|Bid||31.06 x 800|
|Ask||38.80 x 1000|
|Day's Range||31.87 - 32.78|
|52 Week Range||31.17 - 58.09|
|Beta (3Y Monthly)||0.54|
|PE Ratio (TTM)||25.77|
|Earnings Date||Jan 31, 2019 - Feb 4, 2019|
|Forward Dividend & Yield||1.60 (4.99%)|
|1y Target Est||38.69|
Citizens in Cajamarca, the South American nation’s poorest region, elected pro-investment candidate Mesias Guevara, ending the rule of an anti-mining movement that has governed the region for the past eight years. In Moquegua, where Anglo American Plc is building the $5.3 billion Quellaveco copper project, and Apurimac, where MMG Ltd. operates the Las Bambas mine, winning candidates didn’t voice opposition to mining. Development plans worth billions of dollars remained stalled in several regions due to local opposition.
Oscar González Rocha became the CEO of Southern Copper Corporation (NYSE:SCCO) in 2004. This report will, first, examine the CEO compensation levels in comparison to CEO compensation at other big Read More...
Ivan Glasenberg, chief executive of mining giant Glencore Plc (GLEN.L) since 2002, said last month he would retire over the next three to five years, sparking speculation about which of his industry peers could be next to go. At least one other global mining giant has approached rival executives about their interest in moving, according to two sources. The CEOs of Freeport McMoRan Inc (FCX.N), Teck Resources Ltd (TECKb.TO), Agnico Eagle Mines Ltd (AEM.TO) and Southern Copper Corp (SCCO.N) have been in their roles for more than 10 years, eclipsing the industry average of seven years.
Titans of the mining industry who have led the industry through myriad storms for decades are set to retire over the next few years, a once-in-a-generation turnover that has sparked a search for fresh talent with far different skills than current executives. Ivan Glasenberg, chief executive of mining giant Glencore Plc since 2002, said last month he would retire over the next three to five years, sparking speculation about which of his industry peers could be next to go. The CEOs of Freeport McMoRan Inc, Teck Resources Ltd , Agnico Eagle Mines Ltd and Southern Copper Corp have been in their roles for more than 10 years, eclipsing the industry average of seven years.
Comparative analysis Freeport-McMoRan (FCX) posted an adjusted EBITDA of $1.8 billion in the third quarter. The company posted an EBITDA of $2.1 billion in the second quarter and $1.6 billion in the third quarter of 2017. The sequential decline in Freeport-McMoRan’s earrings, like other copper miners, was due to lower copper prices. After peaking in June, copper prices have come under pressure due to concerns about Chinese demand and the trade war. Southern Copper’s (SCCO) third-quarter EBITDA of $868 million was comparable to the third quarter of 2017. ...
Previously, we discussed copper miners’ production profiles and 2018 guidance. In this part, we’ll look at leading copper producers’ unit cash costs and see what’s impacted their unit cost progression.
In 2018, labor contracts at several leading copper mines came up for negotiation. Analysts expected disruptions in the copper supply due to labor disruptions. However, the copper supply has been smooth in 2018. Analysts build a disruption allowance in their models due to copper’s unpredictable supply. Most copper mining companies provide a guidance range instead of a specific guidance. In this part, we’ll discuss leading copper miners’ production guidance.
In this part, we’ll discuss leading copper miners’ third-quarter production data. By looking at top copper miners’ production profiles, we can get crucial insight into the global copper supply.
Freeport-McMoRan (FCX), the leading US-based copper miner, has lost 42.7% YTD (year-to-date) based on the closing prices on November 23. Other copper miners like Southern Copper (SCCO) and Antofagasta (ANTO) have also fallen in 2018. Vale (VALE) is in the green in 2018. Iron ore prices have been relatively strong despite the rout in other metals (XME).
First Quantum Minerals (FM) has received “strong buy” ratings from eight analysts, while nine have given it “buy” ratings or some equivalent. The remaining five analysts polled by Thomson Reuters on November 22 have rated the stock as a “hold.”
Southern Copper (SCCO) has received a “buy” rating from only one analyst, while three have given it “hold” ratings. Three analysts have given it “sell” ratings, and the remaining analyst polled by Thomson Reuters on November 22 has given the stock a “strong sell” rating. Southern Copper has the lowest percentage of “buy” ratings among the copper miners we’re covering in this series.
Freeport-McMoRan (FCX) has received a “strong buy” rating from one analyst, while six have given it “buy” ratings. Thirteen analysts have given Freeport “hold” ratings, while the remaining two analysts polled by Thomson Reuters on November 22 have given it “sell” ratings or some equivalent.
The metals and mining space has seen a reversal of fortune this year. Metals prices plunged to multiyear lows in 2015 and 2016. However, China’s stimulus helped fuel a rally in commodity prices.
Large Mexico-based mining companies have slipped almost 8 percent on average over the past two days, according to analysts at Raymond James. Lima-based Southern Copper fell 11 percent in New York, and Toronto-based Torex Gold Resources Inc. was down as much as 14 percent, the biggest intraday decline since July.
Insider Monkey has processed numerous 13F filings of hedge funds and famous investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds’ and investors’ positions as of the end of the third-quarter. You can find write-ups about an individual hedge fund’s trades on numerous financial news websites. However, […]
While copper prices have been weak in 2018, higher gold shipments have helped Freeport-McMoRan (FCX) post higher earnings in the last few quarters. The company posted an adjusted EBITDA of $1.8 billion in the third quarter. The company’s EBITDA in the last 12 months ending on September 30 is $7.9 billion.
Previously, we discussed some Chinese copper demand indicators (SCCO). China’s copper demand indicators don’t look as strong as what we saw at the beginning of 2018. End consumers like the construction and automotive sectors have shown signs of moderation.
Freeport-McMoRan (FCX), the leading US-based copper miner, has seen a significant upside after the stock fell to its 52-week low after its third-quarter earnings were released. Although Freeport-McMoRan managed to beat its earnings estimates in the third quarter for the top line and bottom line, investors gave a thumbs down to its earnings.
In the previous part, we discussed China’s steel and aluminum exports. While China is the largest steel and aluminum exporter, it’s the largest copper importer. Copper mining is concentrated in Latin America.
Shares of Southern Copper Corporation (NYSE:SCCO) will begin trading ex-dividend in 4 days. To qualify for the dividend check of US$0.40 per share, investors must have owned the shares prior Read More...