Annuncio • Apr 21
Southern Copper Corporation, Annual General Meeting, May 29, 2026 Southern Copper Corporation, Annual General Meeting, May 29, 2026. Valuation Update With 7 Day Price Move • Jan 10
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €146, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 10x in the Metals and Mining industry in Europe. Total returns to shareholders of 143% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €90.34 per share. Annuncio • Oct 29
Southern Copper Corporation Declares Quarterly Cash Dividend, Payable on November 28, 2025 Southern Copper Corporation's Board of Directors authorized a quarterly cash dividend of 0.90 per share of common stock and a stock dividend of 0.0085 shares of common stock per share of common stock payable on November 28, 2025, to shareholders of record at the close of business on November 12, 2025. Annuncio • Apr 14
Southern Copper Corporation, Annual General Meeting, May 23, 2025 Southern Copper Corporation, Annual General Meeting, May 23, 2025. Annuncio • Feb 13
Southern Copper Corporation Authorizes a Quarterly Cash Dividend, Payable on February 27, 2025 On January 23, 2025, the Board of Directors of Southern Copper Corporation authorized a quarterly cash dividend of $0.70 per share of common stock, payable on February 27, 2025, to shareholders of record at the close of business on February 11, 2025. Declared Dividend • Oct 28
Dividend of US$0.70 announced Shareholders will receive a dividend of US$0.70. Ex-date: 6th November 2024 Payment date: 21st November 2024 Dividend yield will be 1.9%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is covered by both earnings (61% earnings payout ratio) and cash flows (86% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 24% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Annuncio • Oct 23
Southern Copper Corporation Announces Resignation of Gilberto Perezalonso Cifuentes as Member of the Board of Directors Southern Copper Corporation announced on October 17, 2024, the board of directors of the company learned of the resignation of Mr. Gilberto Perezalonso Cifuentes as a member of the board of directors of the company effective October 16, 2024. Mr. Perezalonso Cifuentes resigned to pursue other professional interests. There was no disagreement between Mr. Perezalonso Cifuentes and SCC or with SCC’s management. Reported Earnings • Oct 22
Third quarter 2024 earnings released: EPS: US$1.15 (vs US$0.79 in 3Q 2023) Third quarter 2024 results: EPS: US$1.15 (up from US$0.79 in 3Q 2023). Revenue: US$2.93b (up 17% from 3Q 2023). Net income: US$896.7m (up 45% from 3Q 2023). Profit margin: 31% (up from 25% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 2.0% growth forecast for the Metals and Mining industry in Europe. 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 23% per year, which means it is well ahead of earnings. Annuncio • Oct 22
Southern Copper Corporation Announces Quarterly Cash Dividend of Common Stock, Payable on November 21, 2024 On October 17, 2024, the Board of Directors of Southern Copper Corporation authorized a quarterly cash dividend of $0.70 per share of common stock, payable on November 21, 2024, to shareholders of record at the close of business on November 6, 2024. Buy Or Sell Opportunity • Oct 12
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 2.8% to €108. The fair value is estimated to be €87.80, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 7.7%. For the next 3 years, revenue is forecast to grow by 5.2% per annum. Earnings are also forecast to grow by 7.7% per annum over the same time period. Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €108, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 9x in the Metals and Mining industry in Europe. Total returns to shareholders of 165% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €85.46 per share. Buy Or Sell Opportunity • Sep 26
Now 26% overvalued after recent price rise Over the last 90 days, the stock has risen 7.1% to €107. The fair value is estimated to be €84.90, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 7.7%. For the next 3 years, revenue is forecast to grow by 5.3% per annum. Earnings are also forecast to grow by 7.8% per annum over the same time period. Buy Or Sell Opportunity • Jul 29
Now 20% overvalued Over the last 90 days, the stock has fallen 13% to €95.92. The fair value is estimated to be €79.63, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 7.7%. For the next 3 years, revenue is forecast to grow by 5.0% per annum. Earnings are also forecast to grow by 6.6% per annum over the same time period. Declared Dividend • Jul 29
Dividend of US$0.60 announced Shareholders will receive a dividend of US$0.60. Ex-date: 9th August 2024 Payment date: 26th August 2024 Dividend yield will be 2.4%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is not covered by earnings (112% earnings payout ratio) nor is it covered by cash flows (150% cash payout ratio). The dividend has increased by an average of 19% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 25% to bring the payout ratio under control. EPS is expected to grow by 22% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Reported Earnings • Jul 22
Second quarter 2024 earnings released: EPS: US$1.22 (vs US$0.70 in 2Q 2023) Second quarter 2024 results: EPS: US$1.22 (up from US$0.70 in 2Q 2023). Revenue: US$3.12b (up 36% from 2Q 2023). Net income: US$950.2m (up 74% from 2Q 2023). Profit margin: 31% (up from 24% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Annuncio • Apr 27
Southern Copper Corporation Approves Quarterly Dividend, Payable on May 23, 2024 On April 18, 2024, Southern Copper Corporation approved a quarterly stock dividend of 0.0104 shares of common stock per share of common stock payable on May 23, 2024 for shareholders of record at the close of business on May 8, 2024. Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: US$0.95 (vs US$1.05 in 1Q 2023) First quarter 2024 results: EPS: US$0.95 (down from US$1.05 in 1Q 2023). Revenue: US$2.60b (down 6.9% from 1Q 2023). Net income: US$736.0m (down 9.5% from 1Q 2023). Profit margin: 28% (in line with 1Q 2023). Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 1.5% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Annuncio • Apr 13
Southern Copper Corporation, Annual General Meeting, May 24, 2024 Southern Copper Corporation, Annual General Meeting, May 24, 2024, at 09:00 Central Standard Time. Agenda: To elect ten directors; to ratify the selection by the Audit Committee of the Board of Directors of Galaz, Yamazaki, Ruiz Urquiza S.C., a member firm of Deloitte Touche Tohmatsu Limited, as independent accountants for calendar year 2024; to cast a non-binding advisory vote on executive compensation; to provide stockholders the opportunity to cast a non-binding advisory vote on the frequency of future stockholders' advisory votes on executive compensation; and to transact such other business as may properly come before the meeting. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to €88.60, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 9x in the Metals and Mining industry in Europe. Total returns to shareholders of 66% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €107 per share. Upcoming Dividend • Feb 05
Upcoming dividend of US$0.80 per share at 4.9% yield Eligible shareholders must have bought the stock before 12 February 2024. Payment date: 29 February 2024. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 4.9%. Lower than top quartile of German dividend payers (5.0%). Lower than average of industry peers (8.4%). Reported Earnings • Feb 04
Full year 2023 earnings released: EPS: US$3.14 (vs US$3.41 in FY 2022) Full year 2023 results: EPS: US$3.14 (down from US$3.41 in FY 2022). Revenue: US$9.90b (down 1.5% from FY 2022). Net income: US$2.43b (down 8.1% from FY 2022). Profit margin: 25% (down from 26% in FY 2022). Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 9% per year. Annuncio • Feb 03
Southern Copper Corporation Announces Dividend, Payable on February 29, 2024 Southern Copper Corporation announced dividend of $.80 per share payable on February 29, 2024, to shareholders of record at the close of business on February 13, 2024, 2024. Declared Dividend • Jan 29
Third quarter dividend of US$0.80 announced Shareholders will receive a dividend of US$0.80. Ex-date: 12th February 2024 Payment date: 29th February 2024 Dividend yield will be 4.6%, which is about the same as the industry average. Sustainability & Growth Dividend is not adequately covered by earnings (94% earnings payout ratio) nor is it covered by cash flows (101% cash payout ratio). The dividend has increased by an average of 19% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 4.3% to bring the payout ratio under control. EPS is expected to grow by 14% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Upcoming Dividend • Oct 31
Upcoming dividend of US$1.00 per share at 4.9% yield Eligible shareholders must have bought the stock before 07 November 2023. Payment date: 22 November 2023. Payout ratio and cash payout ratio are on the higher end at 94% and 88% respectively. Trailing yield: 4.9%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (9.0%). Reported Earnings • Oct 26
Third quarter 2023 earnings released: EPS: US$0.80 (vs US$0.67 in 3Q 2022) Third quarter 2023 results: EPS: US$0.80 (up from US$0.67 in 3Q 2022). Revenue: US$2.51b (up 16% from 3Q 2022). Net income: US$619.5m (up 19% from 3Q 2022). Profit margin: 25% (in line with 3Q 2022). Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 14% per year. Annuncio • Oct 26
Southern Copper Corporation Authorizes Dividend, Payable on November 22, 2023 Southern Copper Corporation announced on October 24, 2023, the Board of Directors authorized a dividend of $1.00 per share payable on November 22, 2023, to shareholders of record at the close of business on November 8, 2023. New Risk • Sep 03
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.5% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 90% Cash payout ratio: 102% Earnings are forecast to decline by an average of 0.5% per year for the foreseeable future. Minor Risk High level of debt (51% net debt to equity). Upcoming Dividend • Aug 01
Upcoming dividend of US$1.00 per share at 4.0% yield Eligible shareholders must have bought the stock before 08 August 2023. Payment date: 23 August 2023. Payout ratio and cash payout ratio are on the higher end at 90% and 95% respectively. Trailing yield: 4.0%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (8.2%). New Risk • Jul 31
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.05% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 90% Cash payout ratio: 102% Earnings are forecast to decline by an average of 0.05% per year for the foreseeable future. Minor Risk High level of debt (51% net debt to equity). Reported Earnings • Jul 30
Second quarter 2023 earnings released: EPS: US$0.71 (vs US$0.56 in 2Q 2022) Second quarter 2023 results: EPS: US$0.71 (up from US$0.56 in 2Q 2022). Revenue: US$2.30b (flat on 2Q 2022). Net income: US$547.5m (up 27% from 2Q 2022). Profit margin: 24% (up from 19% in 2Q 2022). Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • May 10
Special Independent Director recently sold €71k worth of stock On the 8th of May, Luis Miguel Palomino Bonilla sold around 1k shares on-market at roughly €71.46 per share. This transaction amounted to 14% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €107k. Insiders have been net sellers, collectively disposing of €178k more than they bought in the last 12 months. Upcoming Dividend • May 01
Upcoming dividend of US$1.00 per share at 4.6% yield Eligible shareholders must have bought the stock before 08 May 2023. Payment date: 23 May 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 4.6%. Within top quartile of German dividend payers (4.5%). Lower than average of industry peers (8.6%). Reported Earnings • Apr 30
First quarter 2023 earnings released: EPS: US$1.05 (vs US$1.02 in 1Q 2022) First quarter 2023 results: EPS: US$1.05 (up from US$1.02 in 1Q 2022). Revenue: US$2.79b (up 1.1% from 1Q 2022). Net income: US$813.2m (up 3.6% from 1Q 2022). Profit margin: 29% (in line with 1Q 2022). Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 1.3% decline forecast for the Metals and Mining industry in Europe. 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 31% per year. Upcoming Dividend • Feb 06
Upcoming dividend of US$1.00 per share at 4.6% yield Eligible shareholders must have bought the stock before 13 February 2023. Payment date: 01 March 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 4.6%. Within top quartile of German dividend payers (4.6%). Lower than average of industry peers (8.1%). Reported Earnings • Feb 05
Full year 2022 earnings released: EPS: US$3.41 (vs US$4.39 in FY 2021) Full year 2022 results: EPS: US$3.41 (down from US$4.39 in FY 2021). Revenue: US$10.0b (down 8.1% from FY 2021). Net income: US$2.64b (down 22% from FY 2021). Profit margin: 26% (down from 31% in FY 2021). The decrease in margin was driven by lower revenue. Production and reserves: Copper Production: 0.924 Mt (0.958 Mt in FY 2021) Proved and probable reserves (ore): 1,547 Mt (13,126 Mt in FY 2021) Molybdenum Production: 26,240 t (30,230 t in FY 2021) Silver Production: 18,562 troy koz (22,947 troy koz in FY 2021) Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 2.2% decline forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 30% per year whereas the company’s share price has increased by 27% per year. Annuncio • Feb 04
Southern Copper Corporation Announces Dividend, Payable on March 1, 2023 Southern Copper Corporation Board of Directors authorized a dividend of $1.00 per share payable on March 1, 2023, to shareholders of record at the close of business on February 14, 2023. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 7 highly experienced directors. Director Leonardo Contreras Lerdo de Tejada was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Nov 01
Upcoming dividend of US$0.50 per share Eligible shareholders must have bought the stock before 08 November 2022. Payment date: 23 November 2022. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 7.5%. Within top quartile of German dividend payers (5.2%). Lower than average of industry peers (10%). Reported Earnings • Oct 30
Third quarter 2022 earnings released: EPS: US$0.67 (vs US$1.12 in 3Q 2021) Third quarter 2022 results: EPS: US$0.67 (down from US$1.12 in 3Q 2021). Revenue: US$2.16b (down 20% from 3Q 2021). Net income: US$519.0m (down 40% from 3Q 2021). Profit margin: 24% (down from 32% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 3.3% decline forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Aug 03
Upcoming dividend of US$0.75 per share Eligible shareholders must have bought the stock before 10 August 2022. Payment date: 25 August 2022. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 6.4%. Within top quartile of German dividend payers (4.6%). Lower than average of industry peers (8.3%). Reported Earnings • Jul 28
Second quarter 2022 earnings released: EPS: US$0.56 (vs US$1.21 in 2Q 2021) Second quarter 2022 results: EPS: US$0.56 (down from US$1.21 in 2Q 2021). Revenue: US$2.31b (down 20% from 2Q 2021). Net income: US$432.3m (down 54% from 2Q 2021). Profit margin: 19% (down from 32% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the next year, revenue is forecast to stay flat compared to a 26% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Board Change • Jun 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 7 highly experienced directors. Director Leonardo Contreras Lerdo de Tejada was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Feb 07
Upcoming dividend of US$1.00 per share Eligible shareholders must have bought the stock before 14 February 2022. Payment date: 02 March 2022. Payout ratio is a comfortable 73% and this is well supported by cash flows. Trailing yield: 6.3%. Within top quartile of German dividend payers (3.4%). Lower than average of industry peers (7.6%). Reported Earnings • Feb 04
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: US$4.39 (up from US$2.03 in FY 2020). Revenue: US$10.9b (up 37% from FY 2020). Net income: US$3.40b (up 116% from FY 2020). Profit margin: 31% (up from 20% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 4.2%, compared to a 16% growth forecast for the mining industry in Germany. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Jan 28
Now 20% undervalued Over the last 90 days, the stock is up 9.1%. The fair value is estimated to be US$71.02, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% per annum over the last 3 years. Earnings per share has grown by 28% per annum over the last 3 years. Upcoming Dividend • Nov 02
Upcoming dividend of US$1.00 per share Eligible shareholders must have bought the stock before 09 November 2021. Payment date: 23 November 2021. Trailing yield: 6.6%. Within top quartile of German dividend payers (3.2%). In line with average of industry peers (7.1%). Reported Earnings • Oct 29
Third quarter 2021 earnings released: EPS US$1.12 (vs US$0.66 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$2.68b (up 26% from 3Q 2020). Net income: US$867.6m (up 72% from 3Q 2020). Profit margin: 32% (up from 24% 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 28% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Aug 04
Upcoming dividend of US$0.90 per share Eligible shareholders must have bought the stock before 11 August 2021. Payment date: 26 August 2021. Trailing yield: 4.3%. Within top quartile of German dividend payers (3.2%). Lower than average of industry peers (6.0%). Executive Departure • Jul 29
Independent Director Rafael Mac Gregor Anciola has left the company On the 21st of July, Rafael Mac Gregor Anciola's tenure as Independent Director ended after 4.0 years in the role. We don't have any record of a personal shareholding under Rafael's name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 8.13 years. Reported Earnings • Jul 28
Second quarter 2021 earnings released: EPS US$1.21 (vs US$0.34 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$2.90b (up 62% from 2Q 2020). Net income: US$932.7m (up 259% from 2Q 2020). Profit margin: 32% (up from 14% 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 22% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Executive Departure • Jun 09
Director Alfredo de Jesus Casar Perez has left the company On the 28th of May, Alfredo de Jesus Casar Perez's tenure as Director ended after 14.6 years in the role. We don't have any record of a personal shareholding under Alfredo's name. Alfredo is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 8.04 years. Executive Departure • Jun 04
Director Alfredo de Jesus Casar Perez has left the company On the 29th of May, Alfredo de Jesus Casar Perez's tenure as Director ended after 14.6 years in the role. We don't have any record of a personal shareholding under Alfredo's name. Alfredo is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 8.04 years. Recent Insider Transactions • Jun 03
Independent Director recently sold €59k worth of stock On the 1st of June, Vicente Ariztegui Andreve sold around 1k shares on-market at roughly €58.97 per share. In the last 3 months, there was an even bigger sale from another insider worth €6.0m. Insiders have been net sellers, collectively disposing of €138m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • May 26
Investor sentiment deteriorated over the past week After last week's 15% share price decline to US$55.05, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 9x in the Metals and Mining industry in Europe. Total returns to shareholders of 46% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €53.98 per share. Recent Insider Transactions • May 22
Independent Director recently sold €73k worth of stock On the 13th of May, Vicente Ariztegui Andreve sold around 1k shares on-market at roughly €66.38 per share. In the last 3 months, there was an even bigger sale from another insider worth €27m. Insiders have been net sellers, collectively disposing of €138m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • May 11
Investor sentiment improved over the past week After last week's 17% share price gain to US$67.60, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 9x in the Metals and Mining industry in Europe. Total returns to shareholders of 78% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €55.76 per share. Upcoming Dividend • May 04
Upcoming dividend of US$0.70 per share Eligible shareholders must have bought the stock before 10 May 2021. Payment date: 25 May 2021. Trailing yield: 4.0%. Within top quartile of German dividend payers (3.1%). Lower than average of industry peers (4.6%). Reported Earnings • Apr 30
First quarter 2021 earnings released: EPS US$0.99 (vs US$0.28 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$2.53b (up 47% from 1Q 2020). Net income: US$763.8m (up 256% from 1Q 2020). Profit margin: 30% (up from 13% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 12% per year. Recent Insider Transactions • Mar 13
Chairman of the Board recently sold €6.0m worth of stock On the 11th of March, Germán Larrea Mota-Velasco sold around 92k shares on-market at roughly €65.39 per share. In the last 3 months, they made an even bigger sale worth €27m. Germán has been a seller over the last 12 months, reducing personal holdings by €138m. Reported Earnings • Feb 28
Full year 2020 earnings released: EPS US$2.03 (vs US$1.92 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: US$7.98b (up 9.6% from FY 2019). Net income: US$1.57b (up 5.7% from FY 2019). Profit margin: 20% (in line with FY 2019). Production and reserves: Copper Production: 1.002 Mt (0.994 Mt in FY 2019) Proved and probable reserves (ore): 24,229 Mt (24,177 Mt in FY 2019) Number of mines: 5 (5 in FY 2019) Molybdenum Production: 30,170 t (26,920 t in FY 2019) Proved and probable reserves (ore): 14,044 Mt (13,797 Mt in FY 2019) Number of mines: 4 (4 in FY 2019) Silver Production: 25,507 troy koz (23,616 troy koz in FY 2019) Number of mines: 5 (5 in FY 2019) Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 11% per year. Analyst Estimate Surprise Post Earnings • Feb 28
Revenue beats expectations Revenue exceeded analyst estimates by 2.9%. Over the next year, revenue is forecast to grow 15%, compared to a 23% growth forecast for the Metals and Mining industry in Germany. Recent Insider Transactions • Feb 20
Chairman of the Board recently sold €1.3m worth of stock On the 18th of February, Germán Larrea Mota-Velasco sold around 21k shares on-market at roughly €61.85 per share. In the last 3 months, they made an even bigger sale worth €8.9m. Germán has been a seller over the last 12 months, reducing personal holdings by €87m. Recent Insider Transactions • Feb 10
Chairman of the Board recently sold €3.8m worth of stock On the 5th of February, Germán Larrea Mota-Velasco sold around 65k shares on-market at roughly €59.44 per share. In the last 3 months, they made an even bigger sale worth €9.4m. Germán has been a seller over the last 12 months, reducing personal holdings by €86m. Is New 90 Day High Low • Feb 10
New 90-day high: €60.99 The company is up 36% from its price of €44.90 on 11 November 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Metals and Mining industry, which is up 54% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €68.79 per share. Upcoming Dividend • Feb 02
Upcoming Dividend of US$0.60 Per Share Will be paid on the 24th of February to those who are registered shareholders by the 9th of February. The trailing yield of 3.6% is in the top quartile of German dividend payers (3.5%), but it is lower than industry peers (4.7%). Reported Earnings • Jan 27
Full year 2020 earnings released: EPS US$2.03 (vs US$1.92 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: US$7.98b (up 9.6% from FY 2019). Net income: US$1.57b (up 5.7% from FY 2019). Profit margin: 20% (in line with FY 2019). Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 14% per year. Analyst Estimate Surprise Post Earnings • Jan 27
Revenue beats expectations Revenue exceeded analyst estimates by 2.9%. Over the next year, revenue is forecast to grow 9.3%, compared to a 13% growth forecast for the Metals and Mining industry in Germany. Is New 90 Day High Low • Jan 21
New 90-day high: €59.27 The company is up 40% from its price of €42.47 on 23 October 2020. The German market is up 11% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Metals and Mining industry, which is up 54% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €63.75 per share. Is New 90 Day High Low • Jan 05
New 90-day high: €55.63 The company is up 43% from its price of €38.78 on 07 October 2020. The German market is up 8.0% 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. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €67.02 per share. Is New 90 Day High Low • Dec 19
New 90-day high: €51.20 The company is up 28% from its price of €39.85 on 18 September 2020. The German market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 26% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €44.39 per share. Is New 90 Day High Low • Nov 09
New 90-day high: €47.10 The company is up 22% from its price of €38.54 on 11 August 2020. The German market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €43.64 per share. Upcoming Dividend • Nov 02
Upcoming Dividend of US$0.50 Per Share Will be paid on the 24th of November to those who are registered shareholders by the 9th of November. The trailing yield of 3.1% is below the top quartile of German dividend payers (3.9%), and is lower than industry peers (7.0%). Recent Insider Transactions • Oct 31
Chairman of the Board recently sold €3.1m worth of stock On the 30th of October, Germán Larrea Mota-Velasco sold around 70k shares on-market at roughly €45.06 per share. This was the largest sale by an insider in the last 3 months. This was Germán's only on-market trade for the last 12 months. Analyst Estimate Surprise Post Earnings • Oct 29
Third-quarter earnings released: Revenue beats expectations Third-quarter revenue exceeded analyst estimates by 5.1% at US$2.13b. Revenue is forecast to grow 7.8% over the next year, compared to a 8.2% growth forecast for the Metals and Mining industry in Germany. Reported Earnings • Oct 29
Third quarter earnings released Over the last 12 months the company has reported total profits of US$1.29b, down 13% from the prior year. Total revenue was US$7.49b over the last 12 months, up 5.1% from the prior year. Is New 90 Day High Low • Oct 16
New 90-day high: €40.90 The company is up 10.0% from its price of €37.27 on 17 July 2020. The German market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €43.55 per share. 
