Southern Copper Corporation (NYSE:SCCO) Q2 2024 Earnings Conference Call July 22, 2024 11:00 AM ET Company Participants Raul Jacob - VP Finance, Treasurer and CFO Conference Call Participants Carlos de Alba - Morgan Stanley Marcio Farid - Goldman Sachs Alejandro Demichelis - Jefferies Sofia Martin - GBM Hernan Kisluk - MetLife Alfonso Salazar - Scotiabank Myles Allsop - UBS Jonathan Brandt - HSBC David Feng - CICC Operator Good morning, and welcome to Southern Copper Corporation's Second Quarter and Six Mon ...

Exhibit 99.1 | --- | --- | |------------------------------------|-------| | | | | Raul Jacob | ● | | Victor Pedraglio | | | +(602) 264-1375 | | | | | | | | | southerncopper@southernperu.com.pe | | | www.southerncoppercorp.com | | | | | | | | 2Q24 net sales were $3,118.3 million, which represented growth of 35.5% with regard to 2Q23. Expansion was primarily fueled by an increase in the sales volumes of copper (+5.5%), molybdenum (+21.4%), silver (+31.6%) and zinc (+78.1%) as well as by an increase in metal p ...

The most recent trading session ended with Southern Copper (SCCO) standing at $109.89, reflecting a -1.71% shift from the previouse trading day's closing. This change lagged the S&P 500's 1.39% loss on the day. Elsewhere, the Dow gained 0.6%, while the tech-heavy Nasdaq lost 2.77%. The miner's shares have seen an increase of 3.51% over the last month, surpassing the Basic Materials sector's gain of 2.27% and falling behind the S&P 500's gain of 4.43%. In terms of the entire fiscal year, the Zacks Consensus ...

The miner's stock has dropped by 8.95% in the past month, falling short of the Basic Materials sector's loss of 4.67% and the S&P 500's gain of 3.38%. For the full year, the Zacks Consensus Estimates project earnings of $4.33 per share and a revenue of $11.46 billion, demonstrating changes of +39.23% and +15.77%, respectively, from the preceding year. Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created ...

Investors should also note any recent changes to analyst estimates for Southern Copper. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential. Analysts and investors alike will be keeping a close eye on the performance of Southern Copper in its upcoming earnings disclosure. In that report, analysts expect Southern Copper to post earnings of $1.06 per ...

Company Overview - Southern Copper Corporation (SCCO) is positioned well within the Mining - Non Ferrous industry, which is currently ranked 51 out of more than 250 industries, indicating a strong industry performance [2][4]. - The company has experienced solid earnings estimate revisions recently, suggesting a more bullish outlook from analysts regarding its short and long-term prospects [3][4]. Earnings Estimates - Over the past month, earnings estimates for the current quarter have increased from $0.93 per share to $1.06 per share, while estimates for the current year have risen from $3.97 per share to $4.22 per share [5]. - These positive revisions have contributed to Southern Copper earning a Zacks Rank 2 (Buy), highlighting its solid market position [5]. Industry Context - The Mining - Non Ferrous sector is benefiting from broad trends that are positively impacting securities across the industry, suggesting that a rising tide may lift all boats [2]. - The strong performance of the industry segment enhances the attractiveness of Southern Copper as an investment choice [1][2].

Over the past month, shares of this miner have returned -7.4%, compared to the Zacks S&P 500 composite's +3.6% change. During this period, the Zacks Mining - Non Ferrous industry, which Southern Copper falls in, has lost 12.9%. The key question now is: What could be the stock's future direction? Here at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines ...

From a valuation perspective, Southern Copper is currently exchanging hands at a Forward P/E ratio of 25.51. This expresses a premium compared to the average Forward P/E of 16.07 of its industry. The latest trading session saw Southern Copper (SCCO) ending at $108.07, denoting a +0.32% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily gain of 0.85%. Elsewhere, the Dow saw a downswing of 0.09%, while the tech-heavy Nasdaq appreciated by 1.53%. Market participants wi ...

Core Viewpoint - Southern Copper (SCCO) is currently a highly monitored stock, with various factors influencing its near-term performance [1] Earnings Performance - For the current quarter, Southern Copper is expected to report earnings of $1.06 per share, reflecting a year-over-year increase of +51.4%. The Zacks Consensus Estimate has risen by +14.6% in the last 30 days [3] - The consensus earnings estimate for the next fiscal year is $4.87, indicating a +15.3% change from the previous year, with a +3.2% increase in estimates over the past month [4] - For the current fiscal year, the consensus earnings estimate stands at $4.22, showing a +35.7% change from the prior year, with a +6.4% adjustment in the last 30 days [11] Revenue Growth - The consensus sales estimate for the current quarter is $2.8 billion, representing a year-over-year increase of +21.6%. For the current and next fiscal years, revenue estimates are $11.29 billion and $12.1 billion, indicating changes of +14.1% and +7.1%, respectively [14] - Southern Copper reported revenues of $2.6 billion in the last quarter, which is a year-over-year decline of -7% [20] - The reported revenues exceeded the Zacks Consensus Estimate of $2.5 billion by +3.89% [15] Valuation Metrics - Southern Copper is graded F in terms of valuation, indicating it is trading at a premium compared to its peers [17] - Valuation multiples such as price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF) are used to assess whether the stock is fairly valued, overvalued, or undervalued [16] Market Performance - Over the past month, shares of Southern Copper have returned -1%, while the Zacks S&P 500 composite has increased by +4.6%. The Zacks Mining - Non Ferrous industry, which includes Southern Copper, has also seen a -1% change [10] - Southern Copper has surpassed consensus EPS estimates in two of the last four quarters and has topped revenue estimates twice during the same period [7] Analyst Ratings - Southern Copper is rated Zacks Rank 1 (Strong Buy), indicating a potential for outperformance in the near term based on recent changes in earnings estimates and other related factors [12][18]

Southern Copper Corporation (SCCO) is positioned for growth, supported by its industry-leading copper reserves and expansion projects. The recent pickup in copper and silver prices is expected to boost the company's results. Upbeat Production Outlook Southern Copper expects to produce 948,800 tons of copper in 2024, which indicates a 41% year-over-year improvement. The Pilares project began full operations in 2023, and the company started ramping up production at the Buenavista zinc concentrator. These proj ...