Reported Earnings • May 24
First quarter 2026 earnings released: EPS: US$0.22 (vs US$0.16 in 1Q 2025) First quarter 2026 results: EPS: US$0.22 (up from US$0.16 in 1Q 2025). Revenue: US$718.2m (up 32% from 1Q 2025). Net income: US$29.6m (up 42% from 1Q 2025). Profit margin: 4.1% (up from 3.8% 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 17% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 22
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CL$10,400, the stock trades at a trailing P/E ratio of 14.8x. Average trailing P/E is 14x in the Metals and Mining industry in South America. Total returns to shareholders of 236% over the past three years. Upcoming Dividend • Apr 15
Upcoming dividend of US$0.40 per share Eligible shareholders must have bought the stock before 22 April 2026. Payment date: 27 April 2026. Payout ratio is a comfortable 36% but the company is not cash flow positive. Trailing yield: 2.5%. Lower than top quartile of Chilean dividend payers (6.5%). Lower than average of industry peers (4.9%). Declared Dividend • Mar 27
Dividend of US$0.40 announced Shareholders will receive a dividend of US$0.40. Ex-date: 22nd April 2026 Payment date: 27th April 2026 Dividend yield will be 0.004%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is covered by earnings (36% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 5.2% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 17% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. New Risk • Mar 26
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 Chilean stocks, typically moving 4.8% 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 Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 3.3% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (4.8% average weekly change). Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CL$9,407, the stock trades at a trailing P/E ratio of 14x. Average trailing P/E is 13x in the Metals and Mining industry in South America. Total returns to shareholders of 207% over the past three years. Reported Earnings • Feb 02
Full year 2025 earnings released: EPS: US$0.79 (vs US$0.49 in FY 2024) Full year 2025 results: EPS: US$0.79 (up from US$0.49 in FY 2024). Revenue: US$2.47b (up 20% from FY 2024). Net income: US$104.5m (up 61% from FY 2024). Profit margin: 4.2% (up from 3.2% 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 3% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 24
Third quarter 2025 earnings released: EPS: US$0.22 (vs US$0.071 in 3Q 2024) Third quarter 2025 results: EPS: US$0.22 (up from US$0.071 in 3Q 2024). Revenue: US$678.9m (up 27% from 3Q 2024). Net income: US$28.8m (up 206% from 3Q 2024). Profit margin: 4.2% (up from 1.8% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. New Risk • Sep 23
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 Chilean stocks, typically moving 3.3% 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 Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 3.6% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (3.3% average weekly change). New Risk • Aug 28
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 3.6% per year over the past 5 years. Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Aug 25
Second quarter 2025 earnings released: EPS: US$0.18 (vs US$0.12 in 2Q 2024) Second quarter 2025 results: EPS: US$0.18 (up from US$0.12 in 2Q 2024). Revenue: US$604.9m (up 13% from 2Q 2024). Net income: US$23.4m (up 44% from 2Q 2024). Profit margin: 3.9% (up from 3.0% 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 15% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Aug 10
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 9.7% to CL$4,278. The fair value is estimated to be CL$3,526, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.6% over the last 3 years. Earnings per share has declined by 25%. Buy Or Sell Opportunity • Jul 03
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 9.3% to CL$4,100. The fair value is estimated to be CL$3,402, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.6% over the last 3 years. Earnings per share has declined by 25%. New Risk • Jun 01
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 5.9% 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: Major Risk Earnings have declined by 3.7% per year over the past 5 years. Minor Risk Paying a dividend despite having no free cash flows. Board Change • May 23
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Vice Chairman of the Board Bernhard Schretterf was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Apr 22
Upcoming dividend of US$0.25 per share Eligible shareholders must have bought the stock before 29 April 2025. Payment date: 05 May 2025. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of Chilean dividend payers (8.0%). Lower than average of industry peers (6.7%). Declared Dividend • Mar 21
Dividend of US$0.25 announced Shareholders will receive a dividend of US$0.25. Ex-date: 29th April 2025 Payment date: 5th May 2025 Dividend yield will be 0.007%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is well covered by both earnings (36% earnings payout ratio) and cash flows (32% cash payout ratio). The dividend has increased by an average of 1.4% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. Announcement • Mar 19
Molibdenos y Metales S.A., Annual General Meeting, Apr 23, 2025 Molibdenos y Metales S.A., Annual General Meeting, Apr 23, 2025. Location: camino penuelas n 0258, san bernardo, santiago Chile New Risk • Jan 20
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 Chilean stocks, typically moving 3.4% 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 4.9% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (3.4% average weekly change). Profit margins are more than 30% lower than last year (1.7% net profit margin). Reported Earnings • Dec 01
Third quarter 2024 earnings released: EPS: US$0.04 (vs US$0.077 in 3Q 2023) Third quarter 2024 results: EPS: US$0.04 (down from US$0.077 in 3Q 2023). Revenue: US$536.8m (down 15% from 3Q 2023). Net income: US$9.44m (down 7.6% from 3Q 2023). Profit margin: 1.8% (up from 1.6% in 3Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 31
Second quarter 2024 earnings released: EPS: US$0.12 (vs US$0.086 loss in 2Q 2023) Second quarter 2024 results: EPS: US$0.12 (up from US$0.086 loss in 2Q 2023). Revenue: US$536.8m (down 16% from 2Q 2023). Net income: US$16.3m (up US$27.7m from 2Q 2023). Profit margin: 3.0% (up from net loss in 2Q 2023). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Reported Earnings • Jun 04
First quarter 2024 earnings released: EPS: US$0.15 (vs US$0.27 in 1Q 2023) First quarter 2024 results: EPS: US$0.15 (down from US$0.27 in 1Q 2023). Revenue: US$515.2m (down 26% from 1Q 2023). Net income: US$19.5m (down 45% from 1Q 2023). Profit margin: 3.8% (down from 5.1% in 1Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Jun 01
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 7.3% to CL$3,970. The fair value is estimated to be CL$3,223, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 30% over the last 3 years. Earnings per share has declined by 3.2%. Reported Earnings • Feb 02
Full year 2023 earnings released: EPS: US$0.18 (vs US$0.68 in FY 2022) Full year 2023 results: EPS: US$0.18 (down from US$0.68 in FY 2022). Revenue: US$2.48b (up 31% from FY 2022). Net income: US$23.7m (down 74% from FY 2022). Profit margin: 1.0% (down from 4.8% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 12% per year, which means it is performing significantly worse than earnings. Reported Earnings • Nov 27
Third quarter 2023 earnings released: EPS: US$0.08 (vs US$0.061 in 3Q 2022) Third quarter 2023 results: EPS: US$0.08 (up from US$0.061 in 3Q 2022). Revenue: US$631.2m (up 46% from 3Q 2022). Net income: US$10.2m (up 26% from 3Q 2022). Profit margin: 1.6% (down from 1.9% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 28
Second quarter 2023 earnings released: US$0.09 loss per share (vs US$0.057 profit in 2Q 2022) Second quarter 2023 results: US$0.09 loss per share (down from US$0.057 profit in 2Q 2022). Revenue: US$638.6m (up 33% from 2Q 2022). Net loss: US$11.4m (down 250% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Reported Earnings • May 30
First quarter 2023 earnings released: EPS: US$0.27 (vs US$0.18 in 1Q 2022) First quarter 2023 results: EPS: US$0.27 (up from US$0.18 in 1Q 2022). Revenue: US$694.0m (up 53% from 1Q 2022). Net income: US$35.4m (up 44% from 1Q 2022). Profit margin: 5.1% (down from 5.4% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Upcoming Dividend • Apr 17
Upcoming dividend of US$0.20 per share at 9.1% yield Eligible shareholders must have bought the stock before 24 April 2023. Payment date: 27 April 2023. Payout ratio is a comfortable 59% and this is well supported by cash flows. Trailing yield: 9.1%. Lower than top quartile of Chilean dividend payers (13%). Higher than average of industry peers (6.9%). Reported Earnings • Feb 05
Full year 2022 earnings released: EPS: US$0.68 (vs US$0.73 in FY 2021) Full year 2022 results: EPS: US$0.68 (down from US$0.73 in FY 2021). Revenue: US$1.88b (up 30% from FY 2021). Net income: US$89.8m (down 7.6% from FY 2021). Profit margin: 4.8% (down from 6.7% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Buying Opportunity • Dec 15
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 17%. The fair value is estimated to be CL$4,321, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 15%. Upcoming Dividend • Dec 12
Upcoming dividend of US$0.10 per share Eligible shareholders must have bought the stock before 19 December 2022. Payment date: 22 December 2022. Payout ratio is a comfortable 52% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of Chilean dividend payers (13%). Lower than average of industry peers (7.4%). Reported Earnings • Nov 27
Third quarter 2022 earnings released: EPS: US$0.06 (vs US$0.19 in 3Q 2021) Third quarter 2022 results: EPS: US$0.06 (down from US$0.19 in 3Q 2021). Revenue: US$433.8m (up 7.4% from 3Q 2021). Net income: US$8.14m (down 67% from 3Q 2021). Profit margin: 1.9% (down from 6.2% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 7 non-independent directors. Independent Director Juan Manuel Gutiérrez Philippi was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 21
Second quarter 2022 earnings released: EPS: US$0.06 (vs US$0.26 in 2Q 2021) Second quarter 2022 results: EPS: US$0.06 (down from US$0.26 in 2Q 2021). Revenue: US$478.8m (up 37% from 2Q 2021). Net income: US$7.61m (down 78% from 2Q 2021). Profit margin: 1.6% (down from 10.0% 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 14% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Reported Earnings • Jun 02
First quarter 2022 earnings released: EPS: US$0.18 (vs US$0.16 in 1Q 2021) First quarter 2022 results: EPS: US$0.18 (up from US$0.16 in 1Q 2021). Revenue: US$453.6m (up 54% from 1Q 2021). Net income: US$24.5m (up 12% from 1Q 2021). Profit margin: 5.4% (down from 7.4% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 7 non-independent directors. Independent Director Juan Manuel Gutiérrez Philippi was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Apr 18
Upcoming dividend of US$0.20 per share Eligible shareholders must have bought the stock before 25 April 2022. Payment date: 28 April 2022. Payout ratio is a comfortable 30% but the company is not cash flow positive. Trailing yield: 4.1%. Lower than top quartile of Chilean dividend payers (9.5%). Lower than average of industry peers (11%). Reported Earnings • Jan 30
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: US$0.73 (up from US$0.36 in FY 2020). Revenue: US$1.45b (up 38% from FY 2020). Net income: US$97.2m (up 105% from FY 2020). Profit margin: 6.7% (up from 4.5% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Upcoming Dividend • Dec 16
Upcoming dividend of US$0.20 per share Eligible shareholders must have bought the stock before 23 December 2021. Payment date: 29 December 2021. Payout ratio is a comfortable 26% but the company is not cash flow positive. Trailing yield: 4.4%. Lower than top quartile of Chilean dividend payers (9.3%). Lower than average of industry peers (6.6%). Reported Earnings • Nov 29
Third quarter 2021 earnings: Revenues and EPS in line with analyst expectations Third quarter 2021 results: EPS: US$0.19 (up from US$0.09 in 3Q 2020). Revenue: US$404.0m (up 57% from 3Q 2020). Net income: US$25.0m (up 108% from 3Q 2020). Profit margin: 6.2% (up from 4.7% in 3Q 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Oct 12
Investor sentiment deteriorated over the past week After last week's 17% share price decline to CL$4,000, the stock trades at a trailing P/E ratio of 7.3x. Average trailing P/E is 4x in the Metals and Mining industry in Chile. Total loss to shareholders of 46% over the past three years. Upcoming Dividend • Apr 16
Upcoming dividend of US$0.20 per share Eligible shareholders must have bought the stock before 23 April 2021. Payment date: 28 April 2021. Trailing yield: 3.1%. Lower than top quartile of Chilean dividend payers (5.8%). Lower than average of industry peers (5.3%). Reported Earnings • Jan 30
Full year 2020 earnings released The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: US$1.05b (down 10% from FY 2019). Net income: US$47.3m (down 24% from FY 2019). Profit margin: 4.5% (down from 5.3% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Dec 17
New 90-day low: CL$5,340 The company is down 5.0% from its price of CL$5,600 on 17 September 2020. The Chilean market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 31% over the same period. Is New 90 Day High Low • Dec 02
New 90-day low: CL$5,400 The company is down 4.0% from its price of CL$5,600 on 03 September 2020. The Chilean market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 23% over the same period. Reported Earnings • Dec 01
Third quarter 2020 earnings released: EPS US$0.09 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: US$257.6m (down 20% from 3Q 2019). Net income: US$12.0m (down 30% from 3Q 2019). Profit margin: 4.7% (down from 5.3% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings.