Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Southern Copper Corporation's third-quarter and nine-month results for 2024 reflect a mixed performance with several key highlights and challenges.</li><li>On the positive side, the company saw a significant boost in sales, production, and profitability.</li><li>Revenue for the third quarter of 2024 increased to $2.9 billion, a 17% rise from the same period in 2023, mainly driven by a 21% rise in copper sales value and an 8% rise in copper sales volume.</li></ul>

Southern Copper Corporation's third-quarter and nine-month results for 2024 reflect a mixed performance with several key highlights and challenges.On the positive side, the company saw a significant boost in sales, production, and profitability.Revenue for the third quarter of 2024 increased to $2.9 billion, a 17% rise from the same period in 2023, mainly driven by a 21% rise in copper sales value and an 8% rise in copper sales volume.

Southern Copper Corporation: The 6 Most Significant Forces Steering Its Performance into 2025 & Beyond!

<ul><li>Southern Copper Corporation reported notable progress and financial growth in its third quarter and nine-month financial results for 2024, highlighting a comprehensive blend of achievements and forward-looking strategies amid fluctuating market conditions.</li><li>This analysis delves into both the positive advancements and the challenges facing the company.</li><li>On the positive side, Southern Copper showcased a robust increase in copper production, which saw an 11% rise in the third quarter, reaching 252,219 tons.</li></ul>

Southern Copper Corporation reported notable progress and financial growth in its third quarter and nine-month financial results for 2024, highlighting a comprehensive blend of achievements and forward-looking strategies amid fluctuating market conditions.This analysis delves into both the positive advancements and the challenges facing the company.On the positive side, Southern Copper showcased a robust increase in copper production, which saw an 11% rise in the third quarter, reaching 252,219 tons.

Southern Copper Corporation:  Expansion of Key Mining Projects & Other Major Drivers

Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

Equity, Bottom-up Analyst

Investics Research

It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity Bottom-up Research

Commodities

<ul>
<li>Copper prices are receiving a favorable lift following the announcement of China's "Special Action Plan to Boost Consumption" made early last week.</li>
<li>Total Social Financing (TSF) increased by 16% YoY for Jan-Feb to 9.29 trillion RMB. Despite being below the analyst forecasts (which were revised upwards), this is a strong number.</li>
<li>Coupled with weaker supply (<a href="https://www.smartkarma.com/insights/post-results-fy24-mine-by-mine-plan-production-commentary-on-copper-from-global-listed-companies" target="_blank" data-smartkarma-citation="insights:179155" rel="noopener">Post Results FY24: Mine-By-Mine Plan Production + Commentary on Copper From Global Listed Companies</a> ), copper prices can surpass 10k USD/ton in the medium-term. </li>
</ul>


Copper prices are receiving a favorable lift following the announcement of China's "Special Action Plan to Boost Consumption" made early last week.
Total Social Financing (TSF) increased by 16% YoY for Jan-Feb to 9.29 trillion RMB. Despite being below the analyst forecasts (which were revised upwards), this is a strong number.
Coupled with weaker supply (Post Results FY24: Mine-By-Mine Plan Production + Commentary on Copper From Global Listed Companies ), copper prices can surpass 10k USD/ton in the medium-term. 


Copper Tracker 24th March 2025: China "Special Action Consumption Plan"/Comex Spreads Stratospheric

<ul><li>Southern Copper Corporation's second quarter and 6 months results of 2024 suggest a resilient performance with both positive and negative attributes.</li><li>The company reported a 15% surge in London Metal Exchange copper price in comparison to Q2 2023, which combined with production cuts and market deficit, resulted in positive trends for the corporation.</li><li>Copper made up about 76% of the company's sales in Q2, and despite a weak demand from China, the corporation confidently expects a 0.6% increase in the copper supply for 2024.</li></ul>

Southern Copper Corporation's second quarter and 6 months results of 2024 suggest a resilient performance with both positive and negative attributes.The company reported a 15% surge in London Metal Exchange copper price in comparison to Q2 2023, which combined with production cuts and market deficit, resulted in positive trends for the corporation.Copper made up about 76% of the company's sales in Q2, and despite a weak demand from China, the corporation confidently expects a 0.6% increase in the copper supply for 2024.

Southern Copper Corporation: Exploration and Development of New Deposits! - Major Drivers

Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

<ul>
<li>Low-Cost producer of copper and zinc with two of the biggest  ten mines in the world.</li>
<li>Recent mine acquisition and increased production at existing mines will grow earnings.</li>
<li>The supply and demand imbalance in copper will lead to higher prices.</li>
</ul>


Low-Cost producer of copper and zinc with two of the biggest  ten mines in the world.
Recent mine acquisition and increased production at existing mines will grow earnings.
The supply and demand imbalance in copper will lead to higher prices.


Mmg Limited 1208.HK - It's Got It All - Copper, EV's, and AI!

United States

Southern Copper Corporation conducts mining operations in Peru and Mexico.  The Company owns and operates open pit mines and metallurgical complexes that produce copper, molybdenum, zinc, and precious metals.

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Southern Copper (SCCO US)

Southern Copper Corporation: The 6 Most Significant Forces Steering Its Performance into 2025 & Beyond!

Southern Copper Corporation's third-quarter and nine-month results for 2024 reflect a mixed performance with several key highlights and...

Baptista Research

Southern Copper Corporation: Expansion of Key Mining Projects & Other Major Drivers

Southern Copper Corporation reported notable progress and financial growth in its third quarter and nine-month financial results for 2024,...

Baptista Research

Copper Tracker 24th March 2025: China "Special Action Consumption Plan"/Comex Spreads Stratospheric

We highlight key drivers for the copper price that could potentially take it over 10k USD/ton in the medium term: China stimulus, copper spreads,...

Sameer Taneja

Southern Copper Corporation: Exploration and Development of New Deposits! - Major Drivers

Southern Copper Corporation's second quarter and 6 months results of 2024 suggest a resilient performance with both positive and negative...

Baptista Research

Mmg Limited 1208.HK - It's Got It All - Copper, EV's, and AI!

Copper at 5-yr highs. Drivers: a) Tariff fear (25% on aluminium/steel) causing copper to be diverted to the US b) The inventory of copper in China...

Rikki Malik

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