In the latest market close, Southern Copper (SCCO) reached $90.82, with a +0.36% movement compared to the previous day. The stock exceeded the S&P 500, which registered a loss of 1.78% for the day. Meanwhile, the Dow lost 0.99%, and the Nasdaq, a tech-heavy index, lost 2.61%.

Coming into today, shares of the miner had lost 3.15% in the past month. In that same time, the Basic Materials sector lost 0.13%, while the S&P 500 lost 3.48%.

The investment community will be closely monitoring the performance of Southern Copper in its forthcoming earnings report. On that day, Southern Copper is projected to report earnings of $1.26 per share, which would represent year-over-year growth of 34.04%. At the same time, our most recent consensus estimate is projecting a revenue of $2.68 billion, reflecting a 3.22% rise from the equivalent quarter last year.

For the full year, the Zacks Consensus Estimates project earnings of $4.66 per share and a revenue of $11.55 billion, demonstrating changes of +7.62% and +1.03%, respectively, from the preceding year.

Investors should also take note of any recent adjustments to analyst estimates for Southern Copper. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.78% upward. Southern Copper presently features a Zacks Rank of #3 (Hold).

Looking at valuation, Southern Copper is presently trading at a Forward P/E ratio of 19.41. For comparison, its industry has an average Forward P/E of 16, which means Southern Copper is trading at a premium to the group.

It's also important to note that SCCO currently trades at a PEG ratio of 1.76. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Mining – Non Ferrous was holding an average PEG ratio of 0.81 at yesterday's closing price.

The Mining – Non Ferrous industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 192, this industry ranks in the bottom 24% of all industries, numbering over 250.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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Southern Copper Corporation (SCCO) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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