Will Goldcorp Close Up Shop in Mexico?
In the headlines from Yahoo
Gold miners are the latest to feel the brunt of the attempt to rake in more revenues, as the government passed a 7.5% tax on profits of resources plus an additional 0.5% on precious-metals miners.
Grupo Mexico, whose subsidiary Southern Copper (NYSE: SCCO ) is the country's largest copper producer, has also said it would be "obliged" to look elsewhere for places to invest the $3.5 billion it has available.
So where does SCCO go that has not been claimed by someone else.
No improvements for Mexico is perhaps a rash judgement
Goldcorp (NYSE: GG ) has said the new tax would push its effective tax rate to more than 40%, making Mexico the highest-cost country in which to do business.
40% of a 100 total dividend gets me $60 but looks like the door will lock until the lack
of money flow breaks down the doors
On that note years back on the Yahoo boards after Globalstar and Iridium satellite ventures went bust some posters went into mining and I thought checking out the companies in person was a good I idea. Can't say what happened but that was the intent of one person and left the board. I think stockholders are only allowed to go to meetings or communicate with handlers I don't know about there being an open door to the company.
Thats the trouble makers looking to take over the company with some sort of Enron shenanigans.
Thank them for 12c dividend not $1.20 or some factor higher.
See Yahoo Headlines for SCCO
Ex-Dividend Reminder: SCCO, CEQP and DPMat Forbes(Fri 10:16AM EDT)
and take link
Southern Copper Corp will pay its quarterly dividend of $0.12 on 11/21/13,
There is an interesting chart
As a percentage of SCCO’s recent stock price of $28.00, this dividend works out to approximately 0.43%, so look for shares of Southern Copper Corp to trade 0.43% lower — all else being equal — when SCCO shares open for trading on 11/5/13.
also in the headlines premisses premisses:
[Why This Company May Be the Next Natural Resources Powerhouseat Motley Fool(Wed, Oct 30)
sure it is who will get wiped out before the powerhouse gets run by greedy lawyers.
This is the oldest post on yahoo on SCCO
whereas on about 9/13/12 Grupo was haggling over the lawyer fees in a Delaware case.
Paying lawyers on both sides is not running a good company.
Google scco Peru capex lawsuit
the record google scco Peru capex
Capital Expenditure 76.87M 49.83M 171.69M 470.64M 455.82M 315.74M 516.65M 414.82M 408.73M 612.91M
Net Income 69.09M 120.77M 596.77M 1.40B 2.04B 2.22B 1.41B 929.38M 1.55B 2.34B Capital Expenditure Ratio 111.25% 41.26% 28.77% 33.61% 22.37% 14.25% 36.73% 44.63% 26.30% 26.23 -
Have no idea what the stock values or dividends were but a snag was hit recently.
Companies don't like very active stockholder who try to run the company. Give these people a few shares and they ask embarrassing questions. There are outside interests that might try takeovers in hard times so I would say keep the present stockholders happy with ever increasing dividends to show the stock and company is worth the price. Obviously SCCO can hold the mustard.
Say we all bought at 40 and it rose to 60 in the time SCCO went from 30 to 40.
Then in the time SCCO went from 40 to 30 how many would sell the example at
50 or even back at 40. The drop was too fast to catch at even 30 perhaps and
the trap is set now with dividends low for no potential for a stock price going higher.
After a certain amount of buy back the company can be declared sold out and
and go private and the stock can be any price the owners want top pay.
There may be a chance of stock going so low that SCCO is taken over when shock goes to a nickle like the Five dollar kind. I think all the big
holders have gotten out. Why a 25% drop from 40 to 30 perhaps because insiders knew of a lower dividend. Usually I stay for the long term but my holdings are quite small and already had some returns but not as ample as they were going to be. Buyback usually a method of keeping the stock up as it is definitely under pressure.
You must be dar200
Re: Money is mobile GN Bully_gates 10/28/2013 10:28:01 AM
6599 Money is mobile GN dar200 1 10/28/2013 10:02:16 AM
6598 Re: 3q13 EPS & Divident estimates... GN Bully_gates 10/24/2013 5:01:09 PM
6597 Re: 3q13 EPS & Divident estimates... GN stocksurfer Hold 10/24/2013 3:02:52 PM
6596 3q13 EPS & Divident estimates... GN southernfox 10/12/2013 9:46:59 AM
6595 Re: 3q13 Divident and EPS Contest GN dar200 10/11/2013 8:05:50 PM
6594 3q13 Divident and EPS Contest GN southernfox 10/10/2013 10:00:20 PM
Well then GRUPO is doing the right thing but look like CIA trouble makers are in the mix or you think U.K. investment firm Infund LLP (Infund) is clean in the “commercial commission contract” on GMexico securities. Sounds like a Enron thing like pay us more California for your electricity contract.
And we are sure he wouldn't rather have a 3% dividend instead of 1% or lower.
Unless the shovels and elevators are all rusted up and need of renovation and no longer productive why make the stock look bad and take a 25% hit in the stock value. Priorities are all wrong if there is no future evaluations to offset the present debt which is holding back this great anticipated capital expansion.
VELASCO GERMAN LARREA MOTA 245,574 May 2, 2013
CIFUENTES GILBERTO PEREZALONSO 15,741 May 2, 2013
GAMBOA EMILIO CARRILLO 13,315 May 2, 2013
VELASCO GENARO LARREA MOTA 10,902 May 1, 2012
GOUT JUAN REBOLLEDO 9,677 May 2, 2013
Is Germán Larrea a SCCO stock holder I'll have to check. Who is the seven percent. 2B not bad for a holding.
Majority shareholders are getting screwed a thousand times any minority shareholder. They have the direction and voice in GRUPO perhaps and looks
like the run for more money that way is stalled. GRUPO can't handle the SCCO expansion.
Got to watch out for expansion and lowering of dividends.
Bad signs. Hey what examples do i have. Some seedy bar went into
renovations and went under soon enough. Back to stocks and companies
I think Norilsk Nickel gave high dividends then didn't for restructure
and now Norilsk Nickel Hires Barclays to Sell International Assets
at The Wall Street Journal Online - Tue Oct 15
stock price went as far as it could with a high rate so unless the majority stockholders have any say they did some one a favor. owners and operators with with large stock holdings like the extra money so they are likely to want a change
Southern Copper earns a ValueCreation™ rating of EXCELLENT,
too bad I can't put in link
one of those seeking alpha pages yahoo provides links
They missed out on the sell off from $40 perhaps and need to recoup.