|Bid||37.76 x 800|
|Ask||37.78 x 800|
|Day's Range||37.43 - 38.30|
|52 Week Range||29.01 - 49.56|
|Beta (3Y Monthly)||0.87|
|PE Ratio (TTM)||19.91|
|Earnings Date||Jul 23, 2019 - Jul 26, 2019|
|Forward Dividend & Yield||1.60 (4.25%)|
|1y Target Est||39.30|
Southern Copper (SCCO) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
After Southern Copper Corporation's (NYSE:SCCO) earnings announcement in March 2019, analyst consensus outlook appear...
Today we will run through one way of estimating the intrinsic value of Southern Copper Corporation (NYSE:SCCO) by...
Peru's President Martín Vizcarra said on Thursday that Southern Copper Corp's must resolve issues with protesting local residents at its Tia Maria mine before the long-delayed copper project can move ahead. Residents from the area around the $1.4 billion Tia Maria mine began protesting on Monday and blockaded a section of coastal highway after the mine was granted a permit earlier this month. "Rest assured that there will not be any mining operations, there will be no construction of the project if the company does not first sit down to discuss with the people and clarify their doubts," Vizcarra said in comments broadcast of local TV news.
Peruvian President Martin Vizcarra rejected the demand of a regional governor on Tuesday to cancel within 72 hours the construction permit for a copper mining project that has led to protests. Residents from the area bordering Southern Copper Corp's $1.4 billion Tia Maria copper mine project in the south of Peru, which is the second largest copper producer in the world, began protesting on Monday with a blockade of a portion of Peru's main coastal highway. Officials from the southern region of Arequipa said the government had not taken into account the community's concern that the mining operation would contaminate its water sources and land when it granted a construction permit on July 9.
Southern Copper Corp NYSE:SCCOView full report here! Summary * Perception of the company's creditworthiness is neutral * Bearish sentiment is low * Economic output in this company's sector is contracting Bearish sentimentShort interest | PositiveShort interest is extremely low for SCCO with fewer than 1% of shares on loan. This could indicate that investors who seek to profit from falling equity prices are not currently targeting SCCO. Money flowETF/Index ownership | NeutralETF activity is neutral. The net inflows of $2.87 billion over the last one-month into ETFs that hold SCCO are among the highest of the last year, but the rate of growth is slowing. Economic sentimentPMI by IHS Markit | NegativeAccording to the latest IHS Markit Purchasing Managersâ€™ Index (PMI) data, output in the Basic Materialsis falling. The rate of decline is significant relative to the trend shown over the past year, and is accelerating. Credit worthinessCredit default swap | NeutralThe current level displays a neutral indicator. SCCO credit default swap spreads are within the middle of their range for the last three years.Please send all inquiries related to the report to firstname.lastname@example.org.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
Protesters blocked a portion of Peru's main coastal highway on Monday in the start of a new challenge to a billion-dollar copper mining project that has been a lightning rod for conflict. Protesters from the area bordering Southern Copper Corp's $1.4 billion Tia Maria copper mine project in the south of Peru carried signs and flags as they occupied a section of the highway, snarling traffic for cargo vehicles and others. Southern Copper spent years awaiting the final green light that former governments had declined to give because of fears it would revive deadly protests that previously derailed the project.
Peruvian President Martin Vizcarra's decision to grant a green light for a long-delayed copper project is emerging as a key test of his ability to ease opposition to mining that has derailed billions in investments in the world's No. 2 producer. Opponents of Southern Copper Corp's $1.4 billion proposed Tia Maria mine readied plans on Wednesday for an indefinite strike, a day after Vizcarra's government granted the company a construction license that two of his predecessors had declined to issue. Tia Maria is expected to add 120,000 tonnes of copper annually to Southern Copper's production portfolio at the "very competitive cash cost" of $1 per pound, Moody's Investors Service said.
Moody's Investors Service ("Moody's") comments that the construction permit for its $1.4 billion Tia Maria project in Arequipa, Peru, is credit positive for Southern Copper Corporation (Baa2 positive), as it will enhance the company's production profile at very competitive cash costs without material implications to debt levels. Tia Maria will add 120,000 annual tons of copper by 2022 at a very competitive cash cost of $1 per pound on average through the life of the project and will benefit from environmentally friendly processes, including the use of sea water through a desalinization plant. This publication does not announce a credit rating action.
Southern Copper (SCCO) has received a construction permit for its Tia Maria copper mine project in Peru, which once in operation will annually produce 120,000 tons of copper cathodes.
(Bloomberg) -- Latin America’s second-largest copper miner received the green light to build a giant project, which is key to its plans for becoming one of the world’s top three producers of the metal.The Peruvian government awarded Southern Copper Corp. the license to start building its $1.4 billion Tia Maria mine, which has been delayed since at least 2010 amid sometimes deadly protests, the company said in a statement on Tuesday. The company said it won’t start building the project until concerns from local communities are resolved.Tia Maria is a big part of the Grupo Mexico SAB-owned company’s plans to get ahead of competitors Glencore Plc and BHP Group. Southern Copper plans to invest more than $10 billion to boost production to 1.81 million tons by 2026 from 987,000 tons projected this year, Chief Financial Officer Raul Jacob said in May. The largest producer, Santiago-based Codelco, forecasts its annual production at an average of 1.68 million tons over the next decade.Southern Copper’s operations at Tia Maria will not affect other economic activities in the Tambo valley because it will use desalinated water, according to the statement. The company will build an industrial railway to carry mine supplies and copper ore, as well as a road access to the mine at a “prudent distance” from the Tambo valley, it said.The Lima-based miner gave no indication of when it could start work on the project. Chief Executive Officer Oscar Gonzalez Rocha said last week the company could start construction of the mine camp and administrative offices if it received the permit, but that it wouldn’t build the mine or the processing plants until getting the community’s acceptance.Protests PlannedFarmers from the Tambo valley plan to hold protests on July 24-25 and farmers in other parts of southern Peru plan demonstrations of their own, Arequipa-based newspaper El Buho reported on its website Monday. The government deployed 400 police to the area on Tuesday, according to television station Canal N.Tia Maria is expected to produce 120,000 tons annually. The market is currently expected to post a 189,000-ton deficit by the end of this year, according to the International Copper Study Group.The project is the first in Southern Copper’s ambitious investment pipeline. Among the projects pending board approval are $2.8 billion for the El Arco project in Mexico, and more than $5 billion to develop the Los Chancas and Michiquillay deposits in Peru, as well as a new refinery in the Peruvian port town of Ilo.The government’s decision is an “important signal” for reactivating private investment and will bring the social and economic growth the country needs, mine-industry group SNMPE said in an emailed statement.Southern Copper was awarded the license after it responded to 14 observations by the Peruvian government, and after publicly stating it wouldn’t start construction before getting support from local communities, the Energy and Mines Ministry said in a statement on Tuesday. The government will continue to promote dialogue with inhabitants of the Tambo valley, and will promote development of healthcare and education projects in the region, according to the statement.(Updates with Peru government comments in final paragraph)To contact the reporters on this story: Laura Millan Lombrana in Santiago at email@example.com;John Quigley in Lima at firstname.lastname@example.orgTo contact the editors responsible for this story: Luzi Ann Javier at email@example.com, Pratish NarayananFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Southern Copper Corp said on Tuesday it received a construction permit for its long-delayed $1.4 billion Tia Maria copper mine project in Peru, but said work would not begin until it gains more support from local residents. Southern Copper has spent years awaiting the final green light that former governments had declined to give because of fears it would revive deadly protests that had first derailed the project in 2011. It promised it would not begin construction until resolving doubts about the projects in coordination with the government of President Martin Vizcarra.
Chief Justice of the Delaware Supreme Court Leo Strine will retire in the next few months, Governor John Carney announced on Monday, a leadership change in the court system that decides disputes for more than two-thirds of Fortune 500 companies. Strine, 55, said in a letter to the governor he was prepared to serve until the end of October so a replacement could be identified, according to Carney. Delaware is one of the smallest U.S. states by land area, but more than two-thirds of Fortune 500 companies incorporate there because of the business expertise of its courts.
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