In the latest edition of our LatAm Trade Book, we review most of our current trade recommendations. We also discuss key metrics of the issuers and how the bonds fare relative to peers. Please reach out to our analysts to discuss any of these ideas, or other trade recommendations from our LatAm coverage.
Volcan has released solid Q4 and FY 2024 numbers, with quarterly net revenues, volumes and EBITDA rising y-o-y. Full-year net revenues and EBITDA increased 9% and 38%, respectively. FCF and OCF improved significantly, while capex decreased. Net leverage fell 0.5x q-o-q to 1.5x in Q4, due to higher EBITDA and lower net debt. Management is optimistic about the company's FY 2025 performance, and has guided for higher zinc, silver and lead production. The Romina project remains on track, with ra...
Volcan has reported significant improvements in its Q3/24 operating results and credit profile. EBITDA surged thanks to higher metal prices, favourable commercial terms in the sale of concentrates and decreased costs. FCF was slightly negative due to the capex increase. That said, the cash position improved on the back of cash inflows from non-core assets sold as well as the completion of the refinancing process. As a result, adjusted net leverage fell 0.4x q-o-q to 2.1x.
Summary Compania Minera Antamina SA - Company Profile and SWOT Analysis, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights Compania Minera Antamina SA (Antamina) is a mining company that operates a complex polymetallic deposit. Its primary activities include the extraction and processing of minerals such as copp...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
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