Buy Or Sell Opportunity • Jun 10
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.2% to S/9.00. The fair value is estimated to be S/11.29, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Earnings per share has grown by 35%. New Risk • Jun 07
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 94% Dividend yield: 6.7% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (94% cash payout ratio). Share price has been volatile over the past 3 months (6.4% average weekly change). New Risk • Jun 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Peruvian stocks, typically moving 6.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • May 23
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.9% to S/9.20. The fair value is estimated to be S/11.55, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Earnings per share has grown by 35%. Reported Earnings • May 18
First quarter 2026 earnings released: EPS: S/0.25 (vs S/0.14 in 1Q 2025) First quarter 2026 results: EPS: S/0.25 (up from S/0.14 in 1Q 2025). Revenue: S/1.01b (up 39% from 1Q 2025). Net income: S/252.7m (up 76% from 1Q 2025). Profit margin: 25% (up from 20% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. New Risk • Apr 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Peruvian stocks, typically moving 5.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Annonce • Mar 11
Compañía Minera Poderosa S.A., Annual General Meeting, Mar 24, 2026 Compañía Minera Poderosa S.A., Annual General Meeting, Mar 24, 2026, at 16:00 SA Pacific Standard Time. Location: av la floresta no 497, office 501 san borja district, lima Peru Reported Earnings • Mar 06
Full year 2025 earnings released: EPS: S/0.72 (vs S/0.41 in FY 2024) Full year 2025 results: EPS: S/0.72 (up from S/0.41 in FY 2024). Revenue: S/3.47b (up 32% from FY 2024). Net income: S/720.4m (up 74% from FY 2024). Profit margin: 21% (up from 16% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 26% per year whereas the company’s share price has increased by 29% per year. New Risk • Oct 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Peruvian stocks, typically moving 3.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 2.1% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (3.9% average weekly change). Upcoming Dividend • Sep 24
Upcoming dividend of US$0.042 per share Eligible shareholders must have bought the stock before 01 October 2025. Payment date: 05 December 2025. Payout ratio is a comfortable 48% but the company is paying out more than the cash it is generating. Trailing yield: 2.7%. Lower than top quartile of Peruvian dividend payers (16%). Lower than average of industry peers (8.5%). Reported Earnings • Sep 13
Second quarter 2025 earnings released: EPS: S/0.14 (vs S/0.094 in 2Q 2024) Second quarter 2025 results: EPS: S/0.14 (up from S/0.094 in 2Q 2024). Revenue: S/815.2m (up 26% from 2Q 2024). Net income: S/149.5m (up 59% from 2Q 2024). Profit margin: 18% (up from 14% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 30% per year, which means it is well ahead of earnings. Reported Earnings • May 25
First quarter 2025 earnings released: EPS: S/0.14 (vs S/0.10 in 1Q 2024) First quarter 2025 results: EPS: S/0.14 (up from S/0.10 in 1Q 2024). Revenue: S/731.6m (up 34% from 1Q 2024). Net income: S/144.0m (up 79% from 1Q 2024). Profit margin: 20% (up from 15% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. New Risk • Apr 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Peruvian stocks, typically moving 4.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 2.4% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (4.2% average weekly change). Reported Earnings • Mar 06
Full year 2024 earnings released: EPS: S/0.52 (vs S/0.37 in FY 2023) Full year 2024 results: EPS: S/0.52 (up from S/0.37 in FY 2023). Revenue: S/2.62b (up 32% from FY 2023). Net income: S/415.1m (up 41% from FY 2023). Profit margin: 16% (up from 15% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Annonce • Feb 26
Compañía Minera Poderosa S.A., Annual General Meeting, Mar 11, 2025 Compañía Minera Poderosa S.A., Annual General Meeting, Mar 11, 2025, at 17:00 SA Pacific Standard Time. Location: av la floresta n 497 piso 5, urb chacarilla del estanque, san borja Peru New Risk • Nov 20
New major risk - Revenue and earnings growth Earnings have declined by 1.1% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 1.1% per year over the past 5 years. High level of non-cash earnings (25% accrual ratio). Reported Earnings • Aug 20
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: S/649.6m (up 44% from 2Q 2023). Net income: S/94.0m (up 74% from 2Q 2023). Profit margin: 14% (up from 12% in 2Q 2023). The increase in margin was driven by higher revenue. Upcoming Dividend • Mar 25
Upcoming dividend of US$0.08 per share Eligible shareholders must have bought the stock before 01 April 2024. Payment date: 04 June 2024. Payout ratio is on the higher end at 89%, and the cash payout ratio is above 100%. Trailing yield: 4.1%. Lower than top quartile of Peruvian dividend payers (12%). Lower than average of industry peers (5.4%). New Risk • Nov 22
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 14% Last year net profit margin: 22% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 10
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: S/451.8m (down 16% from 2Q 2022). Net income: S/54.2m (down 55% from 2Q 2022). Profit margin: 12% (down from 23% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 5% per year and the company’s share price has also increased by 5% per year. Reported Earnings • Mar 20
Full year 2022 earnings released: EPS: S/0.90 (vs S/1.22 in FY 2021) Full year 2022 results: EPS: S/0.90 (down from S/1.22 in FY 2021). Revenue: S/2.09b (flat on FY 2021). Net income: S/406.6m (down 27% from FY 2021). Profit margin: 19% (down from 26% in FY 2021). Production and reserves: Gold Proved and probable reserves (ore): 1.465 Mt (1.399 Mt in FY 2021) Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 13% per year. Reported Earnings • Nov 16
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: S/500.6m (down 15% from 3Q 2021). Net income: S/101.1m (down 38% from 3Q 2021). Profit margin: 20% (down from 28% in 3Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 9 highly experienced directors. 3 independent directors (8 non-independent directors). Independent Director Juan Antonio Assereto Duharte was the last independent director to join the board, commencing their role in 2001. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Jul 30
Second quarter 2022 earnings released: EPS: S/0.27 (vs S/0.30 in 2Q 2021) Second quarter 2022 results: EPS: S/0.27 (down from S/0.30 in 2Q 2021). Revenue: S/537.2m (up 3.1% from 2Q 2021). Net income: S/122.2m (down 11% from 2Q 2021). Profit margin: 23% (down from 26% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 9 highly experienced directors. 3 independent directors (8 non-independent directors). Independent Director Juan Antonio Assereto Duharte was the last independent director to join the board, commencing their role in 2001. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Upcoming Dividend • Mar 21
Upcoming dividend of US$0.20 per share Eligible shareholders must have bought the stock before 28 March 2022. Payment date: 04 April 2022. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 4.4%. Lower than top quartile of Peruvian dividend payers (22%). Lower than average of industry peers (5.1%). Reported Earnings • Mar 16
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: S/1.22 (up from S/0.85 in FY 2020). Revenue: S/2.10b (up 26% from FY 2020). Net income: S/553.0m (up 43% from FY 2020). Profit margin: 26% (up from 23% in FY 2020). The increase in margin was driven by higher revenue. Production and reserves: Gold Production: 298.44 troy koz (264.79 troy koz in FY 2020) Proved and probable reserves (ore): 1.399 Mt (1.296 Mt in FY 2020) Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 30% per year and the company’s share price has also increased by 30% per year. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS S/0.36 (vs S/0.17 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: S/587.2m (up 54% from 3Q 2020). Net income: S/164.2m (up 109% from 3Q 2020). Profit margin: 28% (up from 21% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Jul 29
Second quarter 2021 earnings released The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: S/521.1m (up 11% from 2Q 2020). Net income: S/137.0m (up 22% from 2Q 2020). Profit margin: 26% (up from 24% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 26% per year whereas the company’s share price has increased by 23% per year. Upcoming Dividend • Mar 18
Upcoming Dividend of US$0.17 Per Share Will be paid on the 30th of March to those who are registered shareholders by the 25th of March. The trailing yield of 3.7% is below the top quartile of Peruvian dividend payers (11%), but it is higher than industry peers (2.3%). Reported Earnings • Mar 03
Full year 2020 earnings released: EPS S/1.06 (vs S/0.83 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: S/1.66b (up 15% from FY 2019). Net income: S/386.0m (up 28% from FY 2019). Profit margin: 23% (up from 21% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 52% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Feb 25
New 90-day high: S/11.50 The company is up 23% from its price of S/9.35 on 27 November 2020. The Peruvian market is up 13% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Metals and Mining industry, which is up 45% over the same period. Reported Earnings • Nov 20
Third quarter 2020 earnings released: EPS S/0.22 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: S/380.7m (down 11% from 3Q 2019). Net income: S/78.6m (down 18% from 3Q 2019). Profit margin: 21% (down from 22% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 40% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Nov 10
New 90-day low: S/10.40 The company is down 7.0% from its price of S/11.20 on 12 August 2020. The Peruvian market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is down 2.0% over the same period. 
