net_left Phương Thức Thanh Toán
Phương Thức Thanh Toán

Southern Copper's premium valuation 'unwarranted' - Deutsche Bank

By Sam Boughedda  Southern Copper Corp. (NYSE:SCCO) was downgraded to Sell from Hold, with a price target of $45 per share by Deutsche Bank analysts on Wednesday. The analysts...
Southern Copper's premium valuation 'unwarranted' - Deutsche Bank © Reuters. Southern Copper's (SCCO) premium valuation 'unwarranted' - Deutsche Bank
let atwWrapper,atwContainerWidth,atwSliderBox,atwTotalWidth; function initATWSlider() { atwWrapper = $('.relatedInstruments'); atwSliderBox = atwWrapper.find('.slider'); atwContainerWidth = atwWrapper.width(); atwTotalWidth = atwSliderBox.width(); if(window.domainId === '2' || window.domainId === '3'){ atwWrapper.find('.sliderRight').addClass('js-slider-prev'); atwWrapper.find('.sliderLeft').addClass('js-slider-next'); } else { atwWrapper.find('.sliderRight').addClass('js-slider-next'); atwWrapper.find('.sliderLeft').addClass('js-slider-prev'); } if(atwSliderBox.find('.instrumentBox').length > 6){ atwWrapper.find('.js-slider-next').fadeIn(600); } } function atwMoveRight() { atwWrapper.find('.js-slider-prev').fadeIn(150); $(".slider > :visible:first").hide(150) $(".slider > :visible:last").next().show(150); if(!$(".slider > :visible:last").next().find('.name')()){ atwWrapper.find('.js-slider-next').fadeOut(150); return; } } function atwMoveLeft() { atwWrapper.find('.js-slider-next').fadeIn(150); $(".slider > :visible:last").hide(150); $(".slider > :visible:first").prev().show(150); if(!$(".slider > :visible:first").prev().find('.name')()){ atwWrapper.find('.js-slider-prev').fadeOut(150); return; } } initATWSlider(); //update star icon on adding/removing instrument to/from specific watchlist atwWrapper.on('click', 'label.addRow', function() { let parent = $(this).parent(); let checkedPortfolio = false; parent.find('input[type=checkbox]').each(function () { if($(this).is(':checked')){ checkedPortfolio = true; } }); let closestStar = $(this).closest('.addToPortWrapper').find('.star'); if(checkedPortfolio){ closestStar.addClass('added'); }else{ closestStar.removeClass('added'); } }); //update star icon on creating new watchlist atwWrapper.find('.js-create-watchlist-portfolio').find('a.js-create').on('click',function () { let parent = $(this).parent(); let watchlistName = parent.find('input[type=text]').val(); if(!watchlistName){ return; } let star = $(this).closest('.addToPortWrapper').find('.star'); star.addClass('added'); }); //update star icon on adding new position atwWrapper.find('.js-create-holdings-portfolio').find('.js-submit').on('click',function () { let addPositionForm = $(this).closest('.addToPortfolioPop').find('.holdingsContent'); let amount = addPositionForm.find('.js-amount').val(); if(amount < 1){ return; } let star = $(this).closest('.addToPortWrapper').find('.star'); star.addClass('added'); }); atwWrapper.find('.instrumentBox').find('.shortInfo').on('click',function () { if(!window.ga){ return; } let pairId = $(this).parent().find('.js-add-to-portfolio').attr('data-pair-id'); let pairType = window.atwPairTypes[pairId]; window.ga('allSitesTracker.send', 'event', 'content', 'symbol link clicked', '', { "dimension147":"symbol_link_clicked", "dimension163":"click", "dimension148":"symbol", "dimension162":"content add to watchlist", "dimension161":"article page", "dimension142":"article", "dimension75":pairType, "dimension138":pairId, "dimension118":"2951014" }); window.open($(this).attr('data-href')); }); window.atwPairTypes = {"13955":"Equities"};

By Sam Boughedda 

Southern Copper Corp. (NYSE:SCCO) was downgraded to Sell from Hold, with a price target of $45 per share by Deutsche Bank analysts on Wednesday.

The analysts argued that the stock has ordinary growth and returns, but its valuation is extraordinary.

"Southern Copper (SCCO) shares have outperformed over the last one month (up 23% vs peers up 14%) driven by a rally in copper prices and the relatively in-line Q3/22. However, the updated guidance for 2023 onwards reflects that the company is struggling to get its operations on track after the COVID-related disruptions, as copper and zinc production was downgraded by 50Kt and 30Kt, respectively, while cash cost guidance was increased by ~10%. We believe these issues are not "one-off" and expect a step-up in sustaining capex and opex to get the operations on track again. SCCO is trading at a premium to peers on spot (2023e EV/EBITDA of 11x vs peers at ~8x), which looks unjustified to us given issues around its growth projects," the analysts explained.

They added that a key reason behind the company's valuation premium compared to peers was its growth optionality;

"We estimate the NAV of SCCO's projects to be ~US$4.3bn, 12% of its market capitalisation. Yet, apart from El Pilar (under construction), we believe the rest of the projects are unlikely to progress soon, with community and environmental issues driving permitting delays. We forecast plateauing production (production CAGR of 2.5% for 2021-25 vs a 4% CAGR in 2015-21). Additionally, operational underperformance and inflation have pushed projects to the 2nd / 3rd quartile, which seem unlikely to change soon," the analysts continued.

As a result, with the "growth projects facing consistent delays, cost positioning deteriorating, and sub-par cash returns," Deutsche Bank believes the premium is unwarranted.

Hot Auto Trade Bot Phương Thức Thanh Toán
BROKERS ĐƯỢC CẤP PHÉP
net_home_top Ai VIF
08-12-2022 17:11:56 (UTC+7)

EUR/USD

1.0497

-0.0008 (-0.07%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (6)

Sell (2)

EUR/USD

1.0497

-0.0008 (-0.07%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (6)

Sell (2)

GBP/USD

1.2164

-0.0034 (-0.28%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

USD/JPY

136.93

+0.34 (+0.25%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (1)

Sell (7)

AUD/USD

0.6719

-0.0003 (-0.04%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (8)

Sell (1)

USD/CAD

1.3668

+0.0016 (+0.12%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (8)

EUR/JPY

143.74

+0.24 (+0.17%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (5)

EUR/CHF

0.9892

+0.0011 (+0.11%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (1)

Gold Futures

1,793.85

-4.15 (-0.23%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (8)

Silver Futures

22.878

-0.044 (-0.19%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (7)

Copper Futures

3.8635

+0.0030 (+0.08%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (4)

Sell (1)

Crude Oil WTI Futures

72.72

+0.71 (+0.99%)

Summary

Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (3)

Sell (4)

Brent Oil Futures

77.77

+0.60 (+0.78%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (2)

Sell (3)

Natural Gas Futures

5.795

+0.072 (+1.26%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (7)

Sell (0)

US Coffee C Futures

161.58

+1.58 (+0.99%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Euro Stoxx 50

3,922.45

+1.55 (+0.04%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (10)

S&P 500

3,933.92

-7.34 (-0.19%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (9)

Sell (1)

DAX

14,258.05

-3.14 (-0.02%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (6)

Sell (0)

FTSE 100

7,488.60

-0.59 (-0.01%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (9)

Sell (0)

Hang Seng

19,450.23

+635.41 (+3.38%)

Summary

Neutral

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (1)

Sell (5)

US Small Cap 2000

1,806.90

-5.67 (-0.31%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (5)

Sell (1)

IBEX 35

8,260.44

-30.06 (-0.36%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (7)

Sell (1)

BASF SE NA O.N.

47.305

-0.120 (-0.25%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (8)

Bayer AG NA

52.58

-0.22 (-0.42%)

Summary

↑ Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (6)

Sell (1)

Allianz SE VNA O.N.

204.18

+0.53 (+0.26%)

Summary

Neutral

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (4)

Sell (1)

Adidas AG

115.98

-1.58 (-1.34%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Deutsche Lufthansa AG

7.672

+0.033 (+0.43%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Siemens AG Class N

133.10

+0.20 (+0.15%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (6)

Sell (1)

Deutsche Bank AG

9.975

+0.009 (+0.09%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

    EUR/USD 1.0497 Buy  
    GBP/USD 1.2164 ↑ Sell  
    USD/JPY 136.93 Neutral  
    AUD/USD 0.6719 ↑ Buy  
    USD/CAD 1.3668 ↑ Sell  
    EUR/JPY 143.74 Sell  
    EUR/CHF 0.9892 ↑ Buy  
    Gold 1,793.85 ↑ Sell  
    Silver 22.878 ↑ Sell  
    Copper 3.8635 Neutral  
    Crude Oil WTI 72.72 Sell  
    Brent Oil 77.77 Neutral  
    Natural Gas 5.795 ↑ Buy  
    US Coffee C 161.58 ↑ Buy  
    Euro Stoxx 50 3,922.45 ↑ Sell  
    S&P 500 3,933.92 ↑ Buy  
    DAX 14,258.05 Neutral  
    FTSE 100 7,488.60 ↑ Buy  
    Hang Seng 19,450.23 Neutral  
    Small Cap 2000 1,806.90 ↑ Buy  
    IBEX 35 8,260.44 Neutral  
    BASF 47.305 ↑ Sell  
    Bayer 52.58 ↑ Buy  
    Allianz 204.18 Neutral  
    Adidas 115.98 ↑ Sell  
    Lufthansa 7.672 ↑ Sell  
    Siemens AG 133.10 Buy  
    Deutsche Bank AG 9.975 ↑ Sell  
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,650/ 6,720
(60/ 60) # 1,593
SJC HCM6,635/ 6,715
(25/ 25) # 1,589
SJC Hanoi6,635/ 6,717
(25/ 25) # 1,591
SJC Danang6,635/ 6,717
(25/ 25) # 1,591
SJC Nhatrang6,635/ 6,717
(25/ 25) # 1,591
SJC Cantho6,635/ 6,717
(25/ 25) # 1,591
Cập nhật 08-12-2022 17:11:59
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,782.80 -4.37 -0.24%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩm Vùng 1 Vùng 2
RON 95-V23.83024.300
RON 95-III22.70023.150
E5 RON 92-II21.67022.100
DO 0.05S23.21023.670
DO 0,001S-V25.19025.690
Dầu hỏa 2-K23.56024.030
ↂ Giá dầu thô thế giới
WTI $73.02 -0.26 -0.35%
Brent $78.03 -0.45 -0.58%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.570,0023.880,00
EUR24.321,7825.683,18
GBP28.175,3329.376,19
JPY168,78178,67
KRW15,5618,96
Cập nhật lúc 17:05:24 08/12/2022
Xem bảng tỷ giá hối đoái
Phương Thức Thanh Toán