Equity Analysis /

Grupo Mexico: Quarterly Report 2Q22: Prospects deteriorate given the complex environment

  • Gmexico’s figures were below expectations, due to lower production in Peru and cash cost increase

  • High inflation, a possibly fall in global copper demand, and metal prices would affect the company’s profitability

  • We cut estimates, adjusted our TP to MXN 86.00 and lower our recommendation to HOLD. Stock price volatility will remain

Marissa Garza Ostos
Marissa Garza Ostos

Head of Equity Research

Jose Itzamna Espitia Hernandez
Jose Itzamna Espitia Hernandez

Senior Equity Research Analyst, Infrastructure, Materials and Transportation

1 August 2022
Published byBanorte


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