Movement Alert｜Southern Copper Corp Overnight Fall 3.06%, Shares Retreat After Quarterly Earnings Beat

Market Focus10-22

On October 22, Southern Copper Corp fell 3.06% Overnight, trading at $192.0 per share, with turnover of $114.6 thousand.

The move followed a post-earnings pullback after the company reported third-quarter results that exceeded market expectations on both revenue and profitability.

For the quarter ended September 30, Southern Copper Corp reported revenue of $4.697 billion, up 39.1% year over year, and net income attributable to shareholders of $1.802 billion, up 62.7%, marking a record quarterly high. Net margin improved to 38.4%. Reported sales were $4.7 billion versus analyst expectations of $4.46 billion, while adjusted EBITDA reached $3.04 billion, above the $2.91 billion consensus, indicating that the Overnight fall reflected market profit-taking rather than an earnings miss.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment