|Bid||0.00 x 1100|
|Ask||43.85 x 3200|
|Day's Range||36.32 - 37.29|
|52 Week Range||35.59 - 58.09|
|Beta (3Y Monthly)||0.61|
|PE Ratio (TTM)||29.37|
|Forward Dividend & Yield||1.60 (4.22%)|
|1y Target Est||N/A|
In the previous part, we discussed China’s steel and aluminum exports. While China is the largest steel and aluminum exporter, it’s the largest copper importer. Copper mining is concentrated in Latin America.
Shares of Southern Copper Corporation (NYSE:SCCO) will begin trading ex-dividend in 4 days. To qualify for the dividend check of US$0.40 per share, investors must have owned the shares prior Read More...
Freeport has lost a third of its value so far this year -- is something wrong or will the company make it through this downdraft in one piece?
Southern Copper (SCCO) remains positive about the long-term fundamentals of the copper and expects a strong recovery in prices triggered by an expected market deficit.
Southern Copper Corp. (SCCO) fell 3.44% to $35.91 per share on Oct. 24 after reporting third-quarter results. With net earnings of 48 cents per share, the copper miner missed consensus estimates by 6 cents, producing a negative surprise of 4%. Net earnings were backed by $1.72 billion in revenue, which grew 2.4% year over year.
Southern Copper Corp reported an 8.1 percent year on year drop in its third quarter net profit on Wednesday, citing the impact of lower copper prices despite higher sales. The company added that it expects the government of Peru to issue a construction permit for its long-delayed Tia Maria project in the fourth quarter.
Freeport-McMoRan (FCX) is scheduled to release its third-quarter earnings results on October 24. Analysts polled by Thomson Reuters expect Freeport to post revenue of $4.5 billion in the third quarter. Freeport posted an adjusted EBITDA of $1.6 billion in the third quarter of 2017.
Mining company Southern Copper Corp. (SCCO) announced its quarterly dividend payment on Thursday. A quarterly dividend of 40 cents will be paid to shareholders on Nov. 21. Investors must be on the company's record no later than Nov. 7 to qualify.
Freeport-McMoRan (FCX), the leading US-based copper miner (XME), is expected to release its third-quarter earnings on October 24. In this series, we’ll see what analysts are expecting from Freeport’s third-quarter earnings results. The year has been a lackluster one for Freeport as well as the broader metals and mining space.
This article is intended for those of you who are at the beginning of your investing journey and want to begin learning about how to value company based on its Read More...
So far in this series, we’ve noted that copper’s near-term outlook looks cloudy due to the US-China trade war. However, copper prices have found some sort of support near the price level of $6,000 per metric ton.
As we noted previously in this series, copper miners such as Southern Copper (SCCO), Rio Tinto (RIO), and First Quantum Minerals (FM) have been subdued this year amid lower copper prices. In a Bloomberg interview, Freeport-McMoRan’s (FCX) CEO, Richard Adkerson, noted that “any strategic move is now possible, including acquisitions, partnerships, or even a sale of the entire company.”
As we noted in the previous article, copper prices have sagged this year. Resilient mined copper supply and the US-China trade war have taken a toll on copper prices. The global growth outlook has also become murky amid the US-China trade tensions.
Freeport-McMoRan (FCX) is having a rough year, losing 32.2% of its market capitalization based on its October 12 closing price. Among the other copper miners, Rio Tinto (RIO) and Southern Copper (SCCO) have lost 1.5% and 10.9%, respectively, this year.
First, while China’s steel demand has likely peaked, the country’s copper demand could continue to rise. Copper’s supply dynamics are also different from some of the other metals like steel and aluminum that face structural and chronic overcapacity, especially in China. Most observers expect copper markets to enter into a structural supply deficit in the next decade as existing mines fail to churn out enough metal to meet the demand.
Since Southern Copper Corporation (NYSE:SCCO) released its earnings in June 2018, analysts seem highly optimistic, as a 100% rise in profits is expected in the upcoming year, against the past Read More...