Streetbeat News

SMMYY

Sumitomo Metal Mining Co. Ltd.

http://www.smm.co.jp/

Industry

Nonferrous Metal (except Aluminum) Smelting and Refining

Open

5.52

Mkt cap

6.1B

Volume

59K

High

5.54

P/E Ratio

30.72

52-wk high

8.82

Low

5.51

Div yield

0.03

52-wk low

5.14

Peru aims to increase its annual copper production to 4 million tons, driven by the expansion of the Cerro Verde mine and other significant projects. The Cerro Verde mine, a $600 million project, is jointly owned by Freeport-McMoRan, Sumitomo Metal Mining, and Compañía de Minas Buenaventura. Other major projects include Newmont's Conga, Rio Tinto and First Quantum Minerals' La Granja, and Southern Copper's Michiquillay. The expansion is part of Peru's strategy to bolster its position as a leading copper producer.

Portfolio Pulse from Stjepan Kalinic

June 03, 2024 | 2:28 pm

Iamgold Corporation (NYSE:IAG) has achieved a significant milestone by pouring the first doré bar at its Côté project in northern Ontario, signaling a step closer to full-scale gold production. The Côté mine, a joint venture with Sumitomo Metals Mining (OTCPK: SMMYY), is expected to become one of Canada's largest gold producers. The project, which is designed for a fully automated haulage fleet, has an estimated mine life of 18 years with significant gold reserves and resources.

Portfolio Pulse from Stjepan Kalinic

April 02, 2024 | 7:39 pm

FPX Nickel Corp. (OTC:FPOCF) has secured funding through 2025 with the backing of Sumitomo Metal Mining (OTC:SMMYY) and other strategic partners, despite a challenging financing market for junior mining companies. This funding, crucial for FPX's exploration of nickel for electric vehicle batteries, highlights a trend where battery and EV manufacturers invest in miners to secure future metal supplies. Other companies like Mitsubishi Corp. (OTC:MSBHF) and Frontier Lithium Inc. (OTC:LITOF) have also engaged in similar strategic investments.

Portfolio Pulse from Matt Whittaker

March 20, 2024 | 8:03 pm

5E Advanced Materials (FEAM) is nearing initial production at its Boron Americas Complex, with operations and commercial activities ramping up for a Q2 2024 start. Alcoa Corporation (AA) plans to acquire Alumina Limited (AWCMF) in an all-stock deal valued at $2.2 billion, aiming to strengthen its market position. Vale (VALE) and Sumitomo Metal Mining (SMMYY) are selling a 14% stake in PT Vale Indonesia to PT Mineral Industri Indonesia, aligning with ownership transfer obligations. Alpha Metallurgical (AMR) reported a significant increase in Q4 net income and adjusted EBITDA, continuing its share buyback program.

Portfolio Pulse from Austin DeNoce

February 26, 2024 | 10:39 pm

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