Southern Copper (SCCO) is a Great Momentum Stock: Should You Buy?

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Company Overview: Southern Copper (SCCO) - Southern Copper currently holds a Momentum Style Score of B, indicating a favorable momentum outlook [3] - The company has a Zacks Rank of 2 (Buy), suggesting strong potential for outperformance in the market [4] Performance Metrics - Over the past week, SCCO shares have increased by 14.68%, outperforming the Zacks Mining - Non Ferrous industry, which rose by 8.87% [6] - In a longer timeframe, SCCO's shares have appreciated by 35.89% over the past quarter and 82.89% over the last year, significantly surpassing the S&P 500's gains of 4.96% and 20.67%, respectively [7] Trading Volume - The average 20-day trading volume for SCCO is 1,353,884 shares, which serves as a bullish indicator when combined with rising stock prices [8] Earnings Outlook - In the last two months, two earnings estimates for SCCO have been revised upwards, increasing the consensus estimate from $5.15 to $5.27 [10] - For the next fiscal year, three estimates have also moved higher, with no downward revisions noted [10] Conclusion - Given the positive momentum indicators and earnings outlook, SCCO is positioned as a 2 (Buy) stock with a Momentum Score of B, making it a strong candidate for near-term investment [12]