Reporte de Múltiplos 2024.04.05

EQUITY RESEARCH | Reporte de Múltiplos viernes, 5 de Abril de 2024
Bienes de Consumo
Último Cap. Bursátil ADTV 12M P/E P/E EV/EBITDA EV/EBITDA Dividend
Empresa Ticker País Moneda P/BV ROE ROA
Precio (US$ MM) (US$ 000) 12M 2024 12M 2024 Yield 12M
Alicorp SA ALICORC1 Perú PEN 5.80 1,207 225 24.30 9.67 6.99 5.16 1.56 6.7% 1.4% 4.8%
Grupo Bimbo SAB de CV BIMBOA México MXN 73.43 19,569 11,816 20.99 19.31 8.46 8.05 2.97 13.3% 4.4% 1.1%
Kimberly-Clark de Mexico SAB d KIMBERA México MXN 38.19 6,860 12,225 16.77 15.20 9.04 8.48 16.79 117.4% 13.1% 4.4%
Gruma SAB de CV GRUMAB México MXN 325.11 7,213 10,366 18.11 14.90 8.77 7.62 3.91 26.2% 9.5% 1.7%
Hypera SA HYPE3 Brasil BRL 31.23 3,908 25,502 11.99 10.68 10.01 8.87 1.65 14.9% 6.8% 3.9%
BRF SA BRFS3 Brasil BRL 16.17 5,374 33,174 n.d. 24.46 11.93 6.31 1.67 -15.5% -3.5% n.d.
Grupo Nutresa SA NUTRESA Colombia COP 42,200.00 5,126 199 26.81 15.84 10.32 9.78 3.07 8.4% 4.0% 3.2%
M Dias Branco SA MDIA3 Brasil BRL 35.80 2,397 8,531 13.66 10.00 8.63 6.88 1.53 12.4% 7.5% 1.8%
Grupo Herdez SAB de CV HERDEZ* México MXN 43.79 891 456 11.11 n.d. 5.30 4.90 0.90 19.0% 3.5% 2.7%
Mediana 5,126 10,366 17.44 15.05 8.77 7.62 1.67 13.3% 4.4% 3.0%
Retail
InRetail Peru Corp INRETC1 Perú USD 30.00 3,262 510 92.88 11.72 7.03 6.73 2.23 18.4% 4.5% 2.8%
Wal-Mart de Mexico SAB de CV WALMEX* México MXN 66.79 70,761 73,583 22.56 20.33 12.78 11.59 6.02 25.7% 12.1% 2.9%
Falabella SA FALAB Chile CLP 2,460.00 6,497 6,937 113.21 25.21 11.25 8.89 0.77 0.9% 0.2% n.d.
Importadora y Exportadora CENCOSUD Chile CLP 1,645.00 4,908 7,589 21.11 9.32 7.05 6.34 1.01 6.0% 1.6% 6.3%
Cia Brasileira de Distribuicao PCAR3 Brasil BRL 2.68 260 9,315 n.d. n.d. 6.84 4.49 0.27 -27.9% -6.9% n.d.
Organizacion Soriana SAB de CV SORIANAB México MXN 33.97 3,713 129 12.17 11.74 6.03 5.79 0.80 6.5% 3.4% 1.6%
Almacenes Exito SA EXITO Colombia COP 2,415.00 832 350 20.59 13.07 3.79 3.47 n.d. n.d. n.d. 7.0%
Grupo Comercial Chedraui SA de CHDRAUIB México MXN 129.42 7,544 3,361 16.29 14.99 6.87 6.33 2.79 18.1% 5.4% 0.7%
Importadora y Exportadora de l PATA Argentina ARS 925.50 536 9 35.74 n.d. 31.13 n.d. 1.41 14.4% 7.0% 0.3%
Mediana 3,713 3,361 21.84 13.07 7.03 6.34 1.21 10.4% 4.0% 2.8%
Servicios Financieros
Último Cap. Bursátil ADTV 12M P/E P/E Margen Ratio de Dividend
Precio (US$ MM) (US$ 000) 12M 2024 Financiero Eficiencia Yield 12M
Credicorp Ltd BAP Perú USD 172.00 13,681 701 10.43 9.12 5.81 47.13 1.53 15.8% 2.1% 3.9%
Scotiabank Peru SAA SCOTIAC1 Perú PEN 12.90 2,880 10 13.55 n.d. 5.72 48.32 0.92 7.1% 1.1% n.d.
Banco BBVA Peru SA BBVAC1 Perú PEN 1.50 3,316 74 13.55 n.d. 5.82 40.10 0.99 15.9% 1.9% 7.8%
Intercorp Financial Services I IFS Perú USD 23.22 2,681 237 9.16 6.45 6.17 45.24 0.87 11.1% 1.2% 5.1%
Itau Unibanco Holding SA ITUB4 Brasil BRL 32.73 59,267 154,451 9.69 7.97 3.40 55.33 1.44 18.5% 1.4% 7.2%
Banco Bradesco SA BBDC4 Brasil BRL 14.52 28,809 123,636 10.22 8.29 4.07 62.14 0.86 9.6% 0.8% 7.7%
Banco do Brasil SA BBAS3 Brasil BRL 57.01 32,271 103,325 4.81 4.34 5.51 53.08 0.90 20.5% 1.6% 8.2%
Grupo Financiero Banorte SAB d GFNORTEO México MXN 181.87 31,846 60,468 10.00 9.15 6.68 56.51 2.16 21.6% 2.4% 5.7%
Banco de Chile CHILE Chile CLP 109.93 11,689 9,388 8.93 11.00 3.20 37.43 1.97 24.6% 2.2% 7.3%
Banco Santander Chile BSAN Chile CLP 47.65 9,452 6,868 18.06 11.13 1.43 47.18 1.85 11.7% 0.7% 5.4%
Bancolombia SA BCOLO Colombia COP 36,060.00 8,980 1,828 4.68 6.41 n.d. 45.16 0.89 15.9% 1.8% 9.8%
Banco de Bogota SA BOGOTA Colombia COP 28,100.00 2,649 69 10.46 n.d. 4.24 55.13 0.65 6.1% 0.7% 10.6%
Banco de Credito e Inversiones BCI Chile CLP 27,450.00 5,508 3,777 8.55 8.73 3.19 52.03 0.80 12.6% 0.9% 3.6%
Grupo Financiero Inbursa SAB d GFINBURO México MXN 51.73 19,160 5,672 11.14 9.65 6.81 42.47 1.44 14.7% 4.8% n.d.
Banco Davivienda SA PFDAVVND Colombia COP 22,200.00 2,661 502 n.d. n.d. 5.95 47.04 0.71 -0.5% 0.0% 4.5%
Mediana 9,452 3,777 10.11 8.73 5.62 47.18 0.92 14.7% 1.4% 7.2%
Construcción
Aenza AENZAC1 Perú PEN 0.60 223 40 8.65 n.d. 2.33 n.d. n.d. 7.3% 1.4% n.d.
Jacobs Solutions Inc J EEUU USD 147.92 18,586 87,885 22.85 18.34 14.19 13.86 n.d. 10.9% 4.7% 0.7%
Promotora y Operadora de Infra PINFRA* México MXN 193.75 4,832 3,710 13.75 10.99 7.12 6.68 1.43 12.7% 8.0% 2.7%
Besalco SA BESALCO Chile CLP 581.99 353 92 7.60 n.d. 4.37 n.d. 1.05 16.4% 4.2% 3.8%
Sterling Infrastructure Inc STRL EEUU USD 107.55 3,350 26,394 25.04 21.57 11.52 11.29 5.37 25.4% 8.6% n.d.
Salfacorp SA SALFACOR Chile CLP 540.40 370 446 6.93 n.d. 7.83 n.d. 0.68 9.4% 3.1% 3.6%
Constructora Conconcreto SA CONCONC Colombia COP 283.00 85 22 313.82 n.d. 7.94 n.d. 0.24 0.1% 0.0% n.d.
Mediana 370 446 13.75 18.34 7.83 11.29 1.05 10.9% 4.2% 3.2%
Cemento
Unión Andina de Cementos UNACEMC1 Perú PEN 1.45 715 134 4.88 4.83 4.40 4.03 0.45 11.0% 5.1% 5.5%
Cementos Pacasmayo CPACASC1 Perú PEN 3.90 487 132 10.00 9.07 6.60 6.16 1.39 12.9% 5.1% 10.5%
Holcim AG HOLN Suiza CHF 80.12 51,475 87,337 14.86 13.64 8.73 8.14 1.61 11.2% 5.5% 3.1%
Vulcan Materials Co VMC EEUU USD 270.15 35,733 175,025 41.38 31.53 18.55 17.52 4.76 13.0% 6.5% 0.6%
Heidelberg Materials AG HEI Alemania EUR 98.00 19,334 34,940 8.91 8.69 6.16 5.61 0.95 11.4% 5.6% 2.7%
Cemex SAB de CV CEMEXCPO México MXN 14.56 12,810 35,518 70.45 12.45 6.72 5.85 1.06 1.6% 0.7% n.d.
Eagle Materials Inc EXP EEUU USD 266.74 9,189 57,105 18.82 16.63 12.72 11.29 6.89 40.1% 17.8% 0.4%
Corp Moctezuma SAB de CV CMOCTEZ* México MXN 75.00 4,030 93 10.46 n.d. 6.66 n.d. 5.08 50.1% 39.4% 5.4%
Cementos Argos SA CEMARGOS Colombia COP 8,850.00 3,163 795 33.63 13.98 7.25 12.14 1.35 3.3% 1.5% 3.5%
GCC SAB de CV GCC* México MXN 196.75 4,031 4,430 13.29 13.22 7.73 7.22 2.28 18.5% 11.3% 0.7%
Cementos BIO BIO SA CEMENT Chile CLP 702.00 195 2 8.14 n.d. 4.86 n.d. 0.68 7.0% 3.6% 3.6%
Mediana 4,031 4,430 13.29 13.22 6.72 7.22 1.39 11.4% 5.5% 3.3%
Fuente: Bloomberg
www.kallpasab.com Reporte de Múltiplos 1

viernes, 5 de Abril de 2024
Acero
Corp. Aceros Arequipa CORAREI1 Perú PEN 1.10 465 17 17.46 n.d. 8.07 n.d. 0.63 2.5% 1.0% 3.9%
Empresa Siderúrgica del Perú SIDERC1 Perú PEN 1.40 266 9 8.43 n.d. 4.06 n.d. 0.96 11.5% 5.9% 8.3%
Gerdau SA GGBR4 Brasil BRL 22.74 7,608 47,219 5.30 8.53 3.59 4.37 0.75 15.8% 10.1% 7.5%
Ternium SA TX Luxemburgo USD 42.28 8,476 7,225 12.27 5.95 4.01 3.75 0.50 5.6% 3.2% 6.9%
Ternium Argentina SA TXAR Argentina ARS 773.00 4,047 1,877 54.52 n.d. 9.84 n.d. 0.94 3.0% 2.5% n.d.
CAP SA CAP Chile CLP 6,897.20 1,085 1,899 n.d. 3.84 5.49 4.00 0.30 -0.3% -0.1% 4.0%
Cia de Ferro Ligas da Bahia FE FESA4 Brasil BRL 8.46 754 1,848 7.53 n.d. 5.61 n.d. 1.15 12.3% 9.4% 8.1%
Cintac SA CINTAC Chile CLP 97.00 45 13 n.d. n.d. 15.97 n.d. 0.45 -32.5% -6.1% n.d.
Olympic Steel Inc ZEUS EEUU USD 72.01 802 4,932 18.71 23.19 8.93 10.71 1.44 8.3% 4.7% 0.7%
Metisa Metalurgica Timboense S MTSA4 Brasil BRL 47.41 82 39 4.75 n.d. 2.96 n.d. 0.90 21.1% 16.2% 6.6%
Mediana 778 1,862 10.35 7.24 5.55 4.19 0.82 6.9% 4.0% 6.7%
Maquinaria - Distribución
Ferreycorp SAA FERREYC1 Perú PEN 2.65 680 401 5.81 5.76 5.01 4.69 0.95 16.8% 6.8% 9.3%
Toromont Industries Ltd TIH Canadá CAD 133.49 8,094 15,390 21.93 20.80 12.00 11.88 3.98 21.3% 12.2% 1.3%
Seven Group Holdings Ltd SVW Australia AUD 39.40 9,529 17,942 28.88 15.02 12.32 9.51 2.90 12.0% 3.5% 1.7%
Finning International Inc FTT Canadá CAD 41.36 4,365 16,411 13.20 10.51 6.59 6.49 2.28 21.1% 7.1% 2.4%
Barloworld Ltd BAW Sudáfrica ZAr 6,387.00 649 1,239 n.d. 6.23 2.08 2.77 0.73 12.5% 4.3% 7.8%
H&E Equipment Services Inc HEES EEUU USD 65.61 2,397 10,451 13.90 13.08 5.77 5.46 4.49 36.2% 6.9% 1.7%
Randon SA Implementos e Partic RAPT4 Brasil BRL 12.69 777 4,751 10.92 7.46 4.90 4.53 0.97 13.8% 3.0% 4.6%
Titan Machinery Inc TITN EEUU USD 23.61 539 6,063 4.78 6.99 7.47 10.77 0.82 18.8% 7.1% n.d.
Wajax Corp WJX Canadá CAD 33.38 536 1,350 9.30 9.35 6.33 6.18 1.43 17.1% 5.9% 4.0%
Mediana 777 6,063 12.06 9.35 6.33 6.18 1.43 17.1% 6.8% 3.2%
Azúcar
Casa Grande SAA CASAGRC1 Perú PEN 11.00 251 26 5.71 n.d. 3.88 n.d. 0.92 15.9% 8.3% 13.0%
Cartavio SAA CARTAVC1 Perú PEN 47.00 303 6 9.99 n.d. 7.04 n.d. 2.51 26.6% 11.6% 10.2%
Empresa Agroindustrial Pomalca POMALCC1 Perú PEN 0.24 20 8 1.24 n.d. 1.46 n.d. 0.11 9.5% 4.7% n.d.
EID Parry India Ltd EID India INR 592.35 1,262 3,815 11.09 6.38 3.47 2.78 1.09 16.6% 5.5% 1.4%
Balrampur Chini Mills Ltd BRCM India INR 388.90 942 11,852 27.90 14.16 10.14 9.11 2.67 10.0% 5.7% 0.8%
Dhampur Sugar Mills Ltd DSM India INR 231.30 184 1,934 9.75 12.17 8.29 6.54 n.d. 16.3% 7.3% 2.6%
Bajaj Hindusthan Sugar Ltd BJH India INR 33.45 513 6,671 n.d. n.d. 29.83 n.d. 0.95 -4.0% -0.9% n.d.
Empresas Iansa SA IANSA Chile CLP 30.61 128 10.5 11.70 n.d. 8.53 n.d. 0.34 3.5% 1.7% 0.1%
Mediana 277 980 9.99 12.17 7.67 6.54 0.95 13.0% 5.6% 2.0%
Pesca
Pesquera Exalmar SAA EXALMC1 Perú PEN 1.74 158.23 2.55 n.d. n.d. 38.57 n.d. 0.59 -4.1% -1.7% 7.0%
Austral Group SAA AUSTRAC1 Perú PEN 1.10 107.00 2.46 n.d. n.d. n.d. n.d. 0.80 -22.4% -11.6% n.d.
Salmar ASA SALM Noruega NOK 678.50 8,353 9,959 35.04 17.98 10.81 10.33 3.66 16.3% 5.5% 2.9%
Leroy Seafood Group ASA LSG Noruega NOK 46.38 2,576 3,249 103.07 11.09 7.53 6.25 1.31 1.4% 0.7% 5.4%
Austevoll Seafood ASA AUSS Noruega NOK 83.40 1,576 1,713 8.07 8.27 7.41 5.62 0.59 1.9% 0.6% 6.6%
Nissui Corp 1332 Japón JPY 928.80 1,914 8,893 12.60 12.62 10.17 9.05 1.06 9.8% 3.9% 2.6%
Empresas AquaChile SA AQUACHIL Chile CLP 467.01 1,037 n.d. 15.41 n.d. 7.36 n.d. 0.66 4.4% 3.1% n.d.
Camanchaca SA CAMANCHA Chile CLP 42.16 184 31 34.94 n.d. 4.73 n.d. 0.42 1.4% 0.6% 8.9%
Mediana 1,307 1,713 25.17 11.86 7.53 7.65 0.73 1.7% 0.7% 6.0%
Telecomunicaciones
Telefónica del Perú TELEFBC1 Perú PEN n.d. 824 1.40 n.d. n.d. n.d. n.d. 2.83 -59.2% -5.2% n.d.
Telefonica Brasil SA VIVT3 Brasil BRL 51.47 16,803 21,378 16.97 14.84 4.67 4.40 1.17 7.3% 4.2% 3.9%
TIM SA/Brazil TIMS3 Brasil BRL 18.52 8,857 22,704 15.80 13.08 4.68 4.43 1.65 11.0% 5.1% 5.4%
Shenandoah Telecommunications SHEN EEUU USD 16.01 808 2,614 73.77 n.d. 13.07 10.62 1.24 1.2% 0.7% 0.6%
Empresa Nacional de Telecomuni ENTEL Chile CLP 3,477.20 1,105 986 11.82 7.42 4.23 3.99 0.58 5.5% 1.6% 2.7%
Empresa de Telecomunicaciones ETB Colombia COP 95.00 89 3 n.d. n.d. 2.42 n.d. n.d. -1.7% -0.9% n.d.
Mediana 965 1,800 16.38 13.08 4.67 4.42 1.24 3.4% 1.2% 3.3%
Electricidad - Generación
Enel Generacion SAA ENGEPEC1 Perú PEN 2.00 1,701 131 6.85 9.09 7.32 6.17 2.03 26.5% 13.1% 13.5%
Engie Energía Perú ENGIEC1 Perú PEN 4.33 707 99 120.62 9.04 9.72 5.46 0.60 0.5% 0.3% 4.3%
Enel Americas SA ENELAM Chile CLP 91.31 10,311 4,246 22.01 9.61 5.40 4.36 0.61 6.3% 2.4% 1.1%
Centrais Eletricas Brasileiras ELET3 Brasil BRL 41.06 18,978 65,213 20.59 9.65 8.98 6.30 0.82 4.1% 1.7% 0.5%
Engie Brasil Energia SA EGIE3 Brasil BRL 41.16 6,634 13,424 9.79 9.01 7.89 7.07 3.28 39.6% 8.5% 7.0%
Equatorial Energia SA EQTL3 Brasil BRL 31.89 7,227 51,467 17.82 11.49 7.38 7.11 1.39 11.0% 2.1% 1.1%
Enel Generacion Chile SA ENELGXCHCI Chile CLP 339.44 2,930 108 5.50 7.18 5.13 5.29 1.10 22.9% 11.2% 7.0%
Companhia Paranaense de Energi CPLE3 Brasil BRL 8.71 5,478 8,159 12.78 11.80 7.72 6.98 1.10 n.d. n.d. 3.5%
Colbun SA Colbun Chile CLP 124.60 2,300 2,391 5.85 8.20 4.60 5.31 0.74 13.6% 5.9% 11.9%
Cia Energetica de Minas Gerais CMIG3 Brasil BRL 14.87 5,888 1,630 5.68 7.17 4.68 4.93 1.16 24.8% 10.6% 8.6%
EDP - Energias do Brasil SA ENBR3 Brasil BRL n.d. n.d. 10,879 n.d. n.d. n.d. n.d. n.d. 10.8% 3.2% n.d.
AES Andes SA AESANDES Chile CLP 81.00 885 4 n.d. n.d. 11.34 6.19 0.60 -20.3% -3.2% 24.9%
Mediana 5,478 3,319 11.29 9.06 7.38 6.17 1.10 11.0% 3.2% 7.0%
Fuente: Bloomberg

Electricidad - Distribución
Luz del Sur LUSURC1 Perú PEN 16.00 2,114 10 10.30 n.d. 7.51 n.d. n.d. 19.4% 9.5% 6.7%
Enel Distribución Perú ENDISPC1 Perú PEN 3.80 3,128 279 26.58 25.33 13.54 12.87 3.47 13.5% 6.8% 1.7%
Pinnacle West Capital Corp PNW EEUU USD 72.76 8,262 72,826 16.50 15.39 10.62 10.49 1.31 8.2% 2.1% 4.8%
Energisa S/A ENGI11 Brasil BRL 47.55 4,911 28,383 51.09 15.29 7.02 7.41 1.52 16.5% 3.0% 3.6%
Enel Distribucion Chile SA ENELDXCHCI Chile CLP 490.00 594 1.1 40.29 n.d. 6.85 n.d. 0.75 2.0% 0.6% 1.0%
Pampa Energia SA PAMP Argentina ARS 1,959.35 3,097 3,419 72.77 10.74 17.09 4.04 1.28 3.1% 1.6% n.d.
CESC Ltd CESC India INR 135.50 2,156 6,504 13.38 11.32 12.41 7.86 1.55 12.6% 3.6% 3.3%
Cia Energetica do Ceara COCE5 Brasil BRL 35.16 693 291 8.68 n.d. 5.15 n.d. 0.80 7.7% 2.5% 0.9%
Mediana 2,626 1,855 21.54 15.29 9.06 7.86 1.31 10.4% 2.7% 3.3%
Minería - Oro
Cia de Minas Buenaventura BVN Perú USD 15.91 4,385 410 n.d. 18.63 n.d. 9.32 1.38 0.7% 0.4% 0.5%
Newmont Corp NEM EEUU USD 39.65 45,699 432,162 26.61 19.19 121.56 7.82 1.56 -10.2% -5.3% 3.7%
Barrick Gold Corp ABX Canadá CAD 24.25 31,338 87,113 20.67 19.21 8.30 7.25 0.98 5.5% 2.8% 2.2%
Agnico Eagle Mines Ltd AEM Canadá CAD 84.27 30,950 105,808 31.09 24.93 13.11 8.82 1.59 10.9% 7.4% 2.6%
Gold Fields Ltd GFI Sudáfrica ZAr 31,995.00 15,341 42,420 18.20 14.76 6.49 6.37 2.17 16.2% 9.0% 2.3%
Zhongjin Gold Corp Ltd 600489 China CNY 13.46 9,020 75,440 26.53 21.26 n.d. 11.90 0.69 9.8% 4.8% 2.1%
Eldorado Gold Corp ELD Canadá CAD 20.53 3,070 7,294 26.14 20.76 7.38 5.90 0.87 3.1% 2.2% n.d.
Mediana 15,341 75,440 26.33 19.21 8.30 7.82 1.38 5.5% 2.8% 2.3%
Minería - Plata
Hochschild Mining Plc HOC Perú GBp 136.20 885 1,383 n.d. 8.16 8.26 3.42 1.32 -8.7% -3.9% n.d.
Wheaton Precious Metals Corp WPM Canadá CAD 68.74 22,925 54,393 43.01 n.d. 31.03 25.85 3.28 7.8% 7.8% 1.2%
Fresnillo PLC FRES México GBp 542.00 5,046 5,699 21.57 31.13 8.98 6.40 1.24 6.3% 4.0% 2.2%
Pan American Silver Corp PAAS Canadá CAD 23.85 6,402 17,305 n.d. 59.31 13.40 9.49 1.34 -3.5% -2.3% 2.3%
Industrias Penoles SAB de CV PE&OLES* México MXN 310.08 7,484 5,297 49.60 14.71 13.84 5.99 n.d. 3.6% 1.5% n.d.
SLM Corp SLM EEUU USD 21.22 4,676 36,281 8.83 7.91 3.03 7.51 2.49 36.3% 2.0% 2.1%
SSR Mining Inc SSRM EEUU CAD 6.61 982 7,235 3.76 n.d. 20.52 9.98 0.23 -2.8% -1.8% 4.3%
First Majestic Silver Corp FR Canadá CAD 10.57 2,234 6,417 1024.88 n.d. n.d. 25.86 1.65 -9.8% -6.6% 0.3%
Hecla Mining Co HL EEUU USD 5.53 3,411 31,410 n.d. 197.50 28.59 16.67 1.73 -4.3% -2.8% 0.5%
Fortuna Silver Mines Inc FVI Canadá CAD 6.39 1,442 3,712 68.99 22.40 7.07 4.99 1.12 -4.1% -2.6% n.d.
Mediana 4,043 6,826 43.01 22.40 13.40 8.50 1.34 -3.1% -2.1% 2.1%
Minería - Cobre
Southern Copper Corp SCCO EEUU USD 110.29 85,267 147 33.90 31.32 17.62 16.53 11.40 31.3% 14.3% 3.4%
Soc. Minera Cerro Verde CVERDEC1 Perú USD 33.49 11,723 352 15.05 12.07 5.98 5.35 1.75 11.7% 9.8% 6.4%
Anglo American PLC AAL Reino Unido GBp 2,088.00 32,325 70,145 45.08 12.36 7.54 4.95 n.d. 2.7% 1.1% 3.6%
Grupo Mexico SAB de CV GMEXICOB México MXN 103.49 48,925 32,233 14.30 15.33 7.61 7.10 2.26 18.7% 10.0% 3.5%
Freeport-McMoRan Inc FCX EEUU USD 49.47 70,960 465,197 31.12 31.67 10.39 9.04 2.60 11.4% 3.6% 1.2%
Antofagasta PLC ANTO Chile GBp 2,194.00 27,329 16,989 32.74 34.69 10.55 8.96 2.27 9.5% 4.4% 2.3%
First Quantum Minerals Ltd FM Canadá CAD 15.26 9,363 69,865 n.d. n.d. 13.62 12.89 0.87 -9.0% -3.9% 1.4%
Lundin Mining Corp LUN Canadá CAD 15.91 9,069 32,153 38.07 20.95 10.15 7.10 1.41 4.9% 2.5% 2.3%
Hudbay Minerals Inc HBM Canadá CAD 9.96 2,572 13,132 32.55 16.29 5.52 4.73 1.17 3.6% 1.4% 0.2%
Mediana 27,329 32,153 32.64 18.62 10.15 7.10 2.01 9.5% 3.6% 2.3%
Minería - Polimetálica
Volcan Compañía Minera SAA VOLCABC1 Perú PEN 0.245 384 215 n.d. 16.62 5.07 4.45 1.05 -2.7% -0.5% n.d.
Nexa Resources Perú NEXAPEC1 Perú PEN 1.34 465 12 9.10 7.42 1.67 1.55 0.64 8.1% 5.0% n.d.
Nexa Resources Atacocha SAA ATACOBC1 Perú PEN n.d. n.d. 1 n.d. 0.88 n.d. n.d. n.d. n.d. -2.7% n.d.
BHP Group Ltd BHP Australia AUD 44.35 148,089 260,950 19.99 11.03 6.70 5.66 2.76 17.6% 7.9% 7.5%
Boliden AB BOL Suecia SEK 324.80 8,351 36,187 14.63 14.96 6.91 6.73 1.49 10.6% 6.1% 3.5%
Teck Resources Ltd TECK Canadá USD 46.73 24,199 165,041 13.39 13.93 6.51 5.89 1.13 9.2% 4.4% 0.8%
Nexa Resources SA NEXA Brasil USD 7.37 976 506 n.d. n.d. 17.46 5.58 0.67 -21.9% -5.9% n.d.
Minmetals Land Ltd 230 Hong Kong HKD 0.32 135 6 n.d. n.d. 46.69 n.d. 0.07 -16.8% -1.7% n.d.
Mediana 976 361 14.01 12.48 6.70 5.62 1.05 8.1% 2.0% 3.5%
Minería - Estaño
Minsur SA MINSURI1 Perú PEN 4.09 3,200 183 2.76 4.62 3.84 3.63 n.d. 24.1% 8.4% 5.6%
Yunnan Tin Co Ltd 000960 China CNY 15.94 3,627 43,555 23.93 12.30 n.d. 8.99 1.43 3.0% 1.3% 0.8%
Malaysia Smelting Corp Bhd SMELT Malasia MYR 2.38 211 175 11.78 9.15 7.85 5.26 1.18 11.5% 6.3% 5.9%
Metals X Ltd MLX Australia AUD 0.39 233 538 24.24 n.d. n.d. n.d. 1.09 56.9% 49.6% n.d.
Mediana 1,716 361 17.86 9.15 5.85 5.26 1.18 17.8% 7.3% 5.9%
Fuente: Bloomberg

KALLPA SECURITIES SOCIEDAD AGENTE DE BOLSA
GERENCIA GENERAL
Alberto Arispe
Gerente
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aarispe@kallpasab.com
FINANZAS CORPORATIVAS OPER. ESPECIALES
Ricardo Carrión Miguel Rodriguez

Gerente Gerente
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EQUITY RESEARCH
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Hugo Ríos Blanca Pajuelo María Lopez Giannina Pingo Daniel Aguirre
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OPERACIONES, TI, MARKETING
Ramiro Misari Franklin Mujica Andrea Guardia

Jefe de Operaciones & TI Analista de TI Analista de Operaciones
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CONTROL INTERNO
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Este documento es exclusivamente para fines informativos. Bajo ninguna circunstancia deber ser usado o considerado como una oferta de venta o solicitud de compra de acciones u otros valores mencionados en él. La información
en este documento ha sido obtenida de fuentes que se creen confiables, pero Kallpa Securities SAB no garantiza la veracidad o certeza del contenido de este reporte, o de los futuros valores de mercado de las acciones u otros
valores mencionados. Las opiniones expresadas en este documento constituyen nuestra opinión a la fecha de esta publicación y están sujetas a cambios sin previo aviso. Kallpa Securities SAB no garantiza que realizará
actualizaciones del análisis ante cualquier cambio en las circunstancias de mercado. El documento refleja fielmente los puntos de vista personales que sobre el tema tiene el analista de inversiones a cargo y ninguna parte de la
compensación económica del analista estuvo, está o estará ligada directa o indirectamente a las recomendaciones específicas u opiniones expresadas en este documento. Los productos mencionados en este documento podrían no
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EQUITY RESEARCH | Reporte de Múltiplos viernes, 5 de Abril de 2024

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KALLPA SECURITIES SOCIEDAD AGENTE DE BOLSA

FINANZAS CORPORATIVAS OPER. ESPECIALES

Ricardo Carrión Miguel Rodriguez

SALES & TRADING

OPERACIONES, TI, MARKETING

Ramiro Misari Franklin Mujica Andrea Guardia

www.kallpasab.com Reporte de Múltiplos 4

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