Southern Copper Q3 Earnings Beat Estimates, Increase Year-Over-Year
November 2, 2023
☀️Trending News
Southern Copper ($NYSE:SCCO) Corporation, a leader in the mining industry, reported its Q3 earnings that exceeded analyst expectations. The company benefited from higher copper prices and strong demand from China for their copper products. Southern Copper was able to remain resilient and produce strong profits as they continue to focus on cost control and innovative strategies to optimize production. The impressive performance of Southern Copper in Q3 has investors hopeful that the company will continue to generate strong returns in the coming year despite any potential disruption caused by the pandemic.
Earnings
In its most recent earnings report for FY2023 Q3 ending September 30 2021, SOUTHERN COPPER reported impressive financial results with total revenue of 2680.9M USD and net income of 867.6M USD. This marks a 24.3% and 67.2% increase, respectively, compared to the same period last year. These impressive figures demonstrate the company’s resilience and strength in the face of a challenging global environment.
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Southern Copper. More…
| Total Revenues | Net Income | Net Margin |
| 10.42k | 2.88k | 27.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Southern Copper. More…
| Operations | Investing | Financing |
| 4.11k | -1.29k | -3.01k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Southern Copper. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 16.96k | 9.16k | 10.02 |
Key Ratios Snapshot
Some of the financial key ratios for Southern Copper are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 11.6% | 20.4% | 46.7% |
| FCF Margin | ROE | ROA |
| 29.5% | 38.9% | 17.9% |
Stock Price
SOUTHERN COPPER Corporation (SCCO) reported their Q3 earnings on Wednesday, with results that beat analyst estimates. This was driven mainly by higher copper and molybdenum prices, as well as increased volumes in the US. The stock opened at $71.2 and closed at $71.9 on the day of the announcement, up 1.4% from the previous closing price of 70.9.
SOUTHERN COPPER’s Q3 earnings reaffirm their position as a leader in the copper mining industry and highlight the company’s ability to grow despite difficult market conditions. Analysts remain optimistic about the stock, with many projecting continued growth in the coming year. Live Quote…
Analysis
At GoodWhale, we have analyzed SOUTHERN COPPER‘s financials and what we found is quite interesting. Through our Star Chart, we can tell that SOUTHERN COPPER is strong in dividend, profitability, and medium in asset and growth. This type of company may be attractive to investors who are looking for a safe alternative to the stock market and yet want to invest in a company with a history of stability and solid financials. SOUTHERN COPPER has a high health score of 10/10 considering its cashflows and debt, showing us that it is capable of paying off debt and funding future operations. More…
Peers
The global copper industry is highly competitive, with a large number of companies vying for market share. Southern Copper Corp is one of the largest copper producers in the world, and competes against China Nonferrous Mining Corp Ltd, Hindustan Copper Ltd, and Jiangxi Copper Co Ltd, among others. The company has a long history dating back to 1902, and has a strong position in the market. Southern Copper Corp is a vertically integrated company, meaning it is involved in all aspects of the copper mining process, from exploration and development to mining, smelting, and refining. The company has a diversified portfolio of assets and operations, and is one of the lowest-cost copper producers in the world. Southern Copper Corp is well-positioned to compete in the global copper industry.
– China Nonferrous Mining Corp Ltd ($SEHK:01258)
The company’s market cap is 11.67B as of 2022, a Return on Equity of 29.54%. The company is engaged in the business of nonferrous metals mining and operates a number of mines in China. It is also engaged in the smelting and refining of nonferrous metals. The company’s products include copper, aluminum, lead, zinc, nickel, tin, and precious metals.
– Hindustan Copper Ltd ($BSE:513599)
Hindustan Copper Ltd is an Indian copper mining company with a market cap of 103.42B as of 2022. The company has a Return on Equity of 13.71%. Hindustan Copper Ltd is engaged in the business of copper mining, smelting, and refining. The company has mines in Jharkhand and Rajasthan, and a plant in Gujarat. The company produces copper cathodes, copper rods, and copper wire. Hindustan Copper Ltd also produces gold and silver.
– Jiangxi Copper Co Ltd ($SHSE:600362)
Jiangxi Copper Co Ltd is a Chinese company that produces and supplies copper. The company has a market cap of 44.09B as of 2022. The company’s Return on Equity is 8.5%. Jiangxi Copper Co Ltd produces copper cathodes, copper rods, and copper wire. The company also produces gold, silver, and other metals. Jiangxi Copper Co Ltd is headquartered in Jiangxi Province, China.
Summary
Investors should watch the company closely as it continues to improve its operational efficiency and increase its profitability.
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