Southern Copper (SCCO) closed the most recent trading day at $68.40, moving -0.22% from the previous trading session. This change was narrower than the S&P 500’s 0.97% loss on the day. Meanwhile, the Dow lost 0.96%, and the Nasdaq, a tech-heavy index, added 0.23%.
Heading into today, shares of the miner had gained 15.72% over the past month, outpacing the Basic Materials sector’s gain of 5.24% and the S&P 500’s loss of 0.78% in that time.
Southern Copper will be looking to display strength as it nears its next earnings release. On that day, Southern Copper is projected to report earnings of $1.15 per share, which would represent year-over-year growth of 51.32%. Our most recent consensus estimate is calling for quarterly revenue of $2.61 billion, up 10.84% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Southern Copper. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.59% lower. Southern Copper is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Southern Copper currently has a Forward P/E ratio of 17.09. This valuation marks a premium compared to its industry’s average Forward P/E of 10.64.
Also, we should mention that SCCO has a PEG ratio of 1.06. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company’s expected earnings growth rate. SCCO’s industry had an average PEG ratio of 0.36 as of yesterday’s close.
The Mining – Non Ferrous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 88, putting it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Activision Blizzard announced Crash Team Rumble today during The Game Awards. The new title will come out in 2023 for PlayStation 5, Xbox Series X/S, PlayStation 4 and Xbox One.
This new Crash Bandicoot game is a four-vs.-four multiplayer affair, with players controlling crash and friends (or foes) in a contest to claim the most Wumpa fruit. Multiplayer spin-offs are not unusual for the series, as Crash has starred in kart racers and the Mario Party-inspired Crash Bash in the past.
Toys For Bob, the studio behind 2020’s Crash Bandicoot 4: It’s About Time, is developing the project. It looks like Activision Blizzard has loosened the developer’s Call of Duty support studio leash.
Dune: Awakening made its debut at The Game Awards as an open world survival massively multiplayer online game.
The game from Funcom and Nukklear looks beautiful, full of very detailed imagery of the desert planet Arrakis, also known as Dune. The game asked for beta signups, but we got no other information. Survival is the key word. Dune is a very deadly world, with sandworms and an unforgiving climate.
You can see places in the trailer like the city of Arakeen by day and night, as well as desert biomes and more. It’s not clear when it is coming. With luck, it will be close to the second Dune movie coming in late 2023.
Fighting Game fans are excited now that Capcom announced that Street Fighter 6 is coming to PS5, PS4, Xbox Series X/S and PC on June 2, 2023. The game was initially announced in February 2022, but that reveal did not include a specific release date beyond 2023.
The trailer at The Game Awards focused on new mini games and the international setting. In addition to the 18 previously announced fighter, the trailer also confirms that several new fighters — Dee Jay, Manon, Marisa and JP — that will join the game’s roster.
Notably, the June 2 release date for Street Fighter 6 may be a strategic choice for Capcom. June is the very beginning of Q3.
The last installment of the franchise — Street Fighter V — released nearly seven years ago so fans have been eager for another installment. A day before The Game Awards, the game’s June release date was leaked via the PlayStation Store.