Southern Copper Corporation
SCCO
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+ FollowMarket Cap$174.55B
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Earnings Call Q3 2024
October 23, 2024 - AI Summary
Strong Copper Production Increase: Southern Copper reported an 11% increase in copper production for Q3 2024, totaling 252,219 tons, driven by enhanced operations in Peru and Mexico. The company expects to produce 975,000 tons of copper in 2024, marking a 7% increase from 2023. For 2025, copper production is projected to be slightly lower at 978,300 tons, reflecting stable operational capabilities.
Positive Financial Performance: Sales surged 17% year-over-year to $2.9 billion in Q3 2024, largely due to a 21% increase in copper sales value. Net income for Q3 2024 reached $897 million, a 45% increase from Q3 2023, driven by higher copper prices and effective cost control measures. The adjusted EBITDA margin improved to 57% from 52% in the previous year.
Increased Cash Costs and by-product credits: The operating cash cost including by-product credits was $0.76 per pound for Q3 2024, stable relative to the previous quarter. However, cash cost before by-product credits was reported at $1.95 per pound, showing a slight decline, but costs are expected to remain around this level in 2024 and 2025. By-product credits decreased by 11% due to lower prices for molybdenum and silver.
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$69.44
65.4% downside
Current Fair Value
65.4% downsideOvervalued by 65.4% based on the discounted cash flow analysis.
Share Statistics
| Market cap | $174.55 Billion |
|---|---|
| Enterprise Value | $178.12 Billion |
| Dividend Yield | $3.91 (1.87%) |
| Earnings per Share | $5.24 |
| Beta | 1.13 |
| Outstanding Shares | 829,100,000 |
Return
| Return on Equity | 44.86% |
|---|---|
| Return on Assets | 23.49% |
| Return on Invested Capital | 41.08% |
Valuation & Multiples
| P/E Ratio | 30.63 |
|---|---|
| PEG | 42.8 |
| Price to Sales | 10.56 |
| Price to Book Ratio | 13.38 |
| Enterprise Value to Revenue | 11.28 |
| Enterprise Value to EBIT | 19.71 |
| Enterprise Value to Net Income | 31 |
| Total Debt to Enterprise | 0.05 |
| Debt to Equity | 0.73 |
Revenue Sources
No data
Insider Trades
Last Earnings Call
Report Date
August 4, 2026
EPS Estimate
$1.97
Average shareholder expectationRevenue Estimate
$4.32 B
Average shareholder expectationNext Earnings Call
Expected Date
October 27, 2026
EPS Estimate
$1.96
Average shareholder expectationRevenue Estimate
$4.46 B
Average shareholder expectationInstitutional Put/Call Ratio
Market sentiment based on institutional option activity.
| Put/Call Ratio | 0.0000▼ 128.06% |
|---|---|
| Total Calls | -▼ 100.00% |
| Total Puts | -▼ 100.00% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 0.02%▼ 9.38% |
|---|---|
| Total Invested | $40.51M▼ 99.70% |
| Investors Holding | 30▼ 872.00% |
ESG Score
No data
About Southern Copper Corporation
16,617 employees
CEO: Oscar Gonzalez Rocha Southern Copper Corporation is a mining entity that conducts operations spanning the discovery, extraction, smelting, and refinement of copper and various other minerals. Its geographical footprint extends across Peru, Mexico, Argentina,...