Highly Rated Southern Copper Stock Forms Later-Stage Base Ahead Of Earnings

With earnings on tap for Apr. 24, IBD 50 member Southern Copper (SCCO) is trading about 16% below an 83.25 entry. The entry is based on a third-stage consolidation, which is less likely than an earlier-stage base to generate a big new run. Read “Looking For The Next Big Stock Market Winners? Start With These 3 Steps” for more tips.

For more analysis on this copper miner stock, check out “IBD 50 Stocks To Watch: Southern Copper Forms Buy Point Amid Mining Boom; Should You Invest?


Understand that buying a stock just ahead of earnings can be risky since you typically don’t have enough time to build a profit cushion before the latest quarterly numbers come out. Be sure to follow sound buy and sell rules to minimize your exposure.

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Regarding fundamentals, the company has posted three quarters of rising earnings growth. Top line growth has also risen during the same period.

Analysts expect earnings growth of 225% for the quarter, and 83% growth for the full year. Annual growth estimates were recently revised upward.

The company has a 97 Composite Rating and holds the No. 7 rank among its peers in the Mining-Metal Ores industry group. BHP Billiton (BHP), Rio Tinto (RIO) and Turquoise Hill Resources (TRQ) are among the top 5 highly rated stocks within the group.

Note: Dates for earnings reports are subject to change. Check the company’s website for any updates.


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