|Bid||58.75 x 10000|
|Ask||58.38 x 267000|
|Day's Range||56.96 - 58.94|
|52 Week Range||36.75 - 64.89|
|Beta (3Y Monthly)||1.12|
|PE Ratio (TTM)||343.57|
|Forward Dividend & Yield||3.20 (6.02%)|
|1y Target Est||6.31|
MSCI's index of Latin American stocks rose 0.4 percent as indices edged higher across the region in-line with its emerging market peers. Brazil's real fell 0.4 percent. "For the BCB to start mulling rate cuts, it would probably have to see a clearer signal about the passing of key fiscal reforms, such as a first round approval of an effective pension reform at the Lower House floor," said Mauricio Oreng, senior Brazil strategist at Rabobank in a note.
Southern Copper Corp, one of the world's biggest copper producers, is considering an investment in a lithium project in Mexico that has also attracted interest from a Chinese firm, the company's chief executive told Reuters on Wednesday. Junior miner Bacanora Lithium Plc, said earlier this month that it owned 10 lithium concessions in Sonora and was focused on securing funding this year to start production in 2021. Bacanora did not respond to requests for comment outside of working hours in London.
A Latin American equities benchmark rose on Tuesday, bolstered by a rebound in Brazilian shares, while Latin American currencies broadly advanced against a soft dollar. Global currency traders wound back ...
A group representing some of Mexico's biggest companies told left-wing President Andres Manuel Lopez Obrador on Monday that politicians should resist "extortion" by labor unions after strikes and blockades in recent weeks. Alejandro Ramirez, president of the Mexican Business Council, said strikes at factories in the northern state of Tamaulipas and blockades of railways by a teachers union had caused more than a billion dollars in losses and could cause businesses to close. Members of the group, including Mexico's second-richest man, German Larrea, who controls mining and transport conglomerate Grupo Mexico, were critics of Lopez Obrador before his July 1 election, warning voters should be wary of populism.
Peru's environmental regulator OEFA has concluded that mining waste from Southern Copper Corp's Cuajone unit did not spill into the environment during heavy rains last week. OEFA said in a statement late Tuesday that it was still supervising operations at Cuajone but had ruled out any tailings spill. On Sunday, OEFA had described a "greenish solution" flowing from the mine's installations into a local river and announced it was investigating a potential tailings spill.
Southern Copper Corp said on Monday that a key plant it uses to produce copper in Peru would not fully restart for another three to five days while work is done on its tailings and railway infrastructure following heavy rains. Peru's environmental regulator OEFA has been investigating a potential tailings spill at Southern Copper's Cuajone mine, after being alerted by local residents of a "greenish solution" that started streaming into a nearby river. Southern Copper, one of the world's largest copper producers, said there was no tailings spill.
Southern Copper Corp has partially suspended its operations in southern Peru due to heavy rains and is searching for a worker who was swept away by a mudslide, the company said late on Sunday. Southern Copper said in a statement that it shut down its processing plant at Cuajone as a preventative measure on Friday, but denied there may have been any tailings spill. Peru's environmental regulator OEFA said on Sunday that it was investigating a potential tailings spill at Cuajone, describing a "greenish solution" that had leaked into the local Torata River from the company's waste depository.
Peru's environmental watchdog said on Sunday it was investigating a tailings spill from a unit of Southern Copper Corp, one of the world's largest copper producers, into a river in an area that has been inundated by heavy rains. The Agency of Evaluation and Environmental Enforcement (OEFA) said the spill occurred in the waste deposit area of the Cuajone mining operations of Southern Copper, located in the Moquegua region approximately 535 miles (860 km) southeast of Lima. OEFA investigators at the Cuajone mine said a "flow of a greenish solution" into the Torata River since Friday has stopped.
Mexico could soon face a shortage of staple foods such as corn flour and wheat flour as railways remain blocked after two weeks of teacher protests in the western state of Michoacan, railroad operator Ferrocarril Mexicano (Ferromex) said on Monday. "There may be a shortage of wheat flour and corn flour in the coming days, meaning that prices for something that is consumed on a daily basis, such as bread and tortillas, may be affected," she told local television station Televisa.
The U.S. dollar turned positive against a basket of currencies after the data showed U.S. employers hired the most workers in 10 months in December while boosting wages, pointing to sustained strength in the economy that could ease fears of a sharp slowdown in growth in the world's top economy. Mexico's peso, considered by some to be a bellwether of trade sentiment, had firmed as much as 0.5 percent but gave up some of those gains. But local stocks in Mexico were up 0.7 percent, with gains led by diversified miner Grupo Mexico, up 4.4 percent.
A lawmaker from leftist President-elect Andres Manuel Lopez Obrador's National Regeneration Movement (MORENA) party presented the bill in the Senate on Tuesday that would change mining regulations and require the consent of indigenous communities before granting mining concessions on their land. The bill is one of a handful up for consideration that would regulate the mining sector. Morgan Stanley downgraded the stocks of Mexican miners Industrias Penoles and Grupo Mexico citing 11 bills and resolutions that could materially affect mining companies operating in Mexico, dragging their shares to levels not seen since 2016.
Former workers of Mexican miner Grupo Mexico plan to block access to the giant Buenavista copper mine on Dec. 1 to pressure the company and the country's incoming leftist government to give them back their collective labor contracts. The planned industrial action is part of a longstanding dispute after Grupo Mexico fired the mine's workforce and reopened it in 2010, following a federal judge's ruling that a nearly three-year strike over a labor dispute was illegal. "We're looking to recover our collective labor contracts, which was stolen by Grupo Mexico," Sergio Tolano, secretary general of section 65 of the National Mining Union, told Reuters.
Latin American stocks and currencies fell on Thursday, hurt by losses in Mexico under continued pressure from a lawmaker's mining bill, with movements amplified by thin volumes on account of the U.S. holiday ...
Latin American stocks and currencies fell for a third straight day on Wednesday, hurt by weakening assets in heavyweight Brazil, whose markets reopened for trade and reflected some of the weakness the ...
Mexican miner and transport company Grupo Mexico said on Wednesday that net profit fell by 30 percent in the third-quarter, compared to the year earlier period. The company reported a net profit of $339.5 ...
Miner Grupo Mexico could reopen the country's largest underground mine in the first quarter of 2019, after it closed more than a decade ago due to a workers strike, a senior government official said in an interview. The company began to refurbish the San Martin mine, which has copper, silver, lead and zinc, a week ago, said Carlos Barcena, the economy minister in the northern state of Zacatecas where the mine is located. A Grupo Mexico official with knowledge of the situation confirmed the plan, but was not authorized to speak to press.
A long-exiled Mexican union leader stormed back onto the political stage on Thursday as a newly-minted senator, saying his legal troubles were behind him and pledging to help President-elect Andres Manuel Lopez Obrador defeat poverty. Miners' union leader Napoleon Gomez returned to cheering crowds of union supporters this week after more than a decade of self-imposed exile in Canada, where he fled after the Mexican government accused him of stealing $55 million from a union trust fund. Flanked by international labor leaders, Gomez spoke to dozens of reporters cramped into a hotel terrace news conference.
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.