Bibliographic citations
Gonzales, J., Urviola, M., Apaza, L., Enciso, G. (2024). Análisis financiero de la industria minera de Perú: el caso de Southern Perú Copper Corporation [Pontificia Universidad Católica del Perú]. http://hdl.handle.net/20.500.12404/28053
Gonzales, J., Urviola, M., Apaza, L., Enciso, G. Análisis financiero de la industria minera de Perú: el caso de Southern Perú Copper Corporation []. PE: Pontificia Universidad Católica del Perú; 2024. http://hdl.handle.net/20.500.12404/28053
@mastersthesis{renati/25504,
title = "Análisis financiero de la industria minera de Perú: el caso de Southern Perú Copper Corporation",
author = "Enciso Estrada, Gian Pier Di Karlo",
publisher = "Pontificia Universidad Católica del Perú",
year = "2024"
}
The objective of this thesis is to determine the fundamental value of Southern Perú Copper Corporation (SPCC), as well as the current value of its shares listed on the local stock exchange, based on the production of its Toquepala and Cuajone mining complexes, plus the inclusion in scenarios of its new mining projects Michiquillay, Los Chancas and Tía María. In addition, for its valuation, SPCC's audited financial data reported between 2018 and 2022 were analyzed, and the main value inputs were identified, such as price, demand, cost of sale, and others. Likewise, to project income, the demand for copper and its price were estimated from 2023 to 2035, as well as the cost of sales based on its participation in 2022 sales. Finally, the methodology used for the valuation of SPCC was the discounted cash flow, projecting the free cash flows, terminal value and applying the WACC under five contexts, which ranged from a base scenario, with only its current projects, which resulted with a fundamental value of USD 6,780 million and the share value of USD 16.32; until a last scenario, with all its new projects, which determined a value of USD 11,115 million and a share value of USD 26.75. Also, it is worth highlighting that all the fundamental values calculated were greater than the market quote price at the end of 2022.
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