|Bid||0.00 x 10000|
|Ask||0.00 x 267000|
|Day's Range||0.00 - 0.00|
|52 Week Range|
|PE Ratio (TTM)||249.96|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||3.85|
Mexican miner and transport company Grupo Mexico said that net profit fell by 28 percent in the second-quarter, compared to the year earlier period, hit by a higher tax burden. The company reported a net profit of $402.8 million in the April-June period, compared to $557 million in the year-earlier quarter. Revenue rose 18 percent to $2.67 billion, helped by higher metal prices, but the company's tax burden more than quadrupled to $394.7 million, eating into profits.
The encounter between the powerful CCE business lobby and Lopez Obrador comes as markets took the election of the self-styled radical in stride. At a news conference, CCE director Juan Pablo Castanon and Lopez Obrador said their meeting was characterized by certainty and trust. "I want to express my satisfaction for the attitude of the business sector," Lopez Obrador said.
Southern Copper Corp said on Tuesday that it plans to start building its proposed $2.5 billion copper mine Michiquillay in Peru next year and will likely start operations in 2022 - three years earlier than previously forecast. Southern's chief executive, Oscar Gonzalez, added that the company will need to reach detailed agreements with residents near the deposit in the northern Andean region of Cajamarca before construction can begin. "It's expected operations will start by 2022," Gonzalez told journalists after signing the Michiquillay contract with government officials.
Peruvian precious metals miner Buenaventura said Southern Copper Corp is evaluating its proposal to jointly develop Southern's $2 billion copper project Michiquillay, Buenaventura's chief executive told Reuters on Wednesday. "They were receptive ... but it's up to them to evaluate the preliminary proposal," Victor Gobitz said in an interview at the International Gold & Silver Symposium in Lima, Peru. The two companies jointly own the Coimolache mining company in Peru, and are both junior partners in large mines in Peru controlled by U.S.-based companies.
One of Mexico's richest men has warned his staff of the risk of a "populist" winning the July 1 presidential election, the latest swipe by big business against leftist front-runner Andres Manuel Lopez Obrador. A letter by billionaire German Larrea, published in Mexican media on Tuesday, refers indirectly to Lopez Obrador, who has accused Larrea of belonging to a group of tycoons seeking to thwart democracy and keep him from power. Lopez Obrador has a history of clashing with business leaders and his opponents repeatedly painted him as a threat to Mexico's economic stability during his previous two tilts at the presidency.
Mexican miner and infrastructure firm Grupo Mexico said on Monday it aims to resume rail transport between key commercial port of Veracruz and central Mexico on Wednesday, following a train derailment suspected to be an act of criminal sabotage. The route that transports 80,000 tons daily has been closed since early Saturday, when in Veracruz 39 cars loaded with wheat and four locomotives hurtled down a slope and collided, injuring three people, the company said. Grupo Mexico's rail division, Grupo Mexico Transportes , said saboteurs appeared to have dislodged the train's safety controls.
Grupo Mexico, one of the world's biggest copper producers, said on Wednesday that its net profit for the first quarter was $513 million, up 24.3 percent. The company, which also has units in infrastructure ...
Southern Copper Corp's chief executive said on Wednesday it had reached a settlement with a company in Peru that blocked development of its $1.4 billion Tia Maria project with a legal injunction. Southern Copper's Oscar Gonzalez told Reuters he hoped the new government of Peruvian President Martin Vizcarra would issue a permit "soon" to allow construction work on the long-delayed project to begin this year. It was unclear if Vizcarra's administration believed the project had enough support from surrounding communities, however.
The government of new Peruvian President Martin Vizcarra said on Wednesday it would not "impose" mining projects on nearby communities that object to them, but would seek to promote mining investments to take advantage of improved mineral prices. In the past decade, Southern Copper Corp and Newmont Mining Corp have shelved proposed mines in Peru because of opposition from communities worried about the environmental impact - one of the biggest hurdles to building mines in the world's No. 2 copper producer. Peruvian Prime Minister Cesar Villanueva said the government would encourage mining but only approve projects that respect the environment and have support from communities.
Southern Copper Corp won a tender to develop Peru's estimated $2 billion Michiquillay copper mine in an auction that attracted just two bidders, the government's Proinversion investment agency said on Tuesday. Southern, controlled by Grupo Mexico SAB de CV , won with a proposal to transfer $400 million to the government and pay 3 percent royalties, beating out Compania Minera Milpo, which had offered $250 million in transfers and 1.875 percent royalties. Peru is the world's second biggest copper producer after Chile.
Mexican markets held steady on Tuesday, with investors awaiting U.S. inflation data that could shine a light on the possible next steps of the U.S. Federal Reserve Bank's monetary policy and future appetite ...
Mexican miner Grupo Mexico, one of the world's largest copper producers, reported a fourth-quarter net profit of $131 million on Friday. The company, which also has a transportation business, said revenue ...
Mexican miner and infrastructure company Grupo Mexico on Thursday priced an initial public offering of its rail unit at 31.50 pesos per share, two sources said, raising around 19 billion pesos . GMexico ...
Mexican tycoon Carlos Slim's bank Inbursa said on Thursday that a unit expects to see profit of 4.65 billion pesos from the sale of GMexico Transportes shares. As part of a share offering of miner and ...
Mexican miner and infrastructure company Grupo Mexico priced the the initial public offering of its rail unit GMexico Transportes on Thursday at the low end of expectations, two sources with knowledge ...
Mexican miner and infrastructure company Grupo Mexico expects to generate more than 23.5 billion pesos ($1.23 billion) in an initial public offering of its rail unit, GMexico Transportes, now set to price on Nov. 9, according to an investor presentation. Grupo Mexico had previously said the long-delayed IPO would price on Oct. 31. The IPO will help to fund the purchase of Florida East Coast Railway, an asset it snapped up in March for $2.1 billion, according to the document seen by Reuters late on Monday.
Mexican mining and infrastructure company Grupo Mexico said on Friday that its net profit more than doubled in the third quarter, as revenue rose. The company said that net profit was $488 million, compared ...
Southern Copper Corp said on Friday that its net profit doubled to $401.8 million in the third quarter from the same period a year earlier as sales surged on higher copper prices. The Arizona-based company, controlled by Grupo Mexico , added that it expects Peru's government to issue a construction permit for its stalled $1.4 billion Tia Maria project in the first quarter of next year. Southern Copper suspended Tia Maria in 2015 to quell deadly protests by farmers worried about its environmental impacts.
GMexico Transportes, the rail unit of miner and builder Grupo Mexico, plans to price an initial public offering on Oct. 31, according to a prospectus posted on the Mexican stock exchange website on Wednesday. ...
Mexican mining conglomerate Grupo Mexico has resumed plans to list its transportation division, including its Ferromex railroad operator, on Mexico's stock exchange, four sources with knowledge of the ...
U.S. energy company Chevron Corp and trading firm Glencore on Thursday announced separate plans to enter Mexico's fuel market, as the long-hidebound sector begins to attract major foreign players. Glencore expects to start importing fuel for Mexico's domestic market in February 2018 through its own terminal in the southern state of Tabasco, according to Alex Beard, the head of the firm's oil division.