November 27, 2014 12:49 AM ET

Metals and Mining

Company Overview of Sociedad Minera Corona, SA

Company Overview

Sociedad Minera Corona SA engages in the exploration, extraction, processing, and sale of lead, copper, silver, zinc, and oxide concentrates primarily in Lima. It also operates a hydroelectric plant in Huarochiri and engages in the generation and marketing of electrical energy. Sociedad Minera Corona was incorporated in 1993 and is based in Lima, Peru. As of May 26, 2011, Sociedad Minera Corona, SA operates as a subsidiary of Dia Bras Explorations Inc.

Avenida Pedro de Osma 450

Barranco

Lima,  

Peru

Founded in 1993

Phone:

51-14-251-8006

Fax:

51-14-251-8006

Key Executives for Sociedad Minera Corona, SA

Sociedad Minera Corona, SA does not have any Key Executives recorded.

Sociedad Minera Corona, SA Key Developments

Sociedad Minera Corona, SA Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

Sociedad Minera Corona, SA reported unaudited earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported revenue of $32,043,000 compared to $21,923,000 a year ago. Adjusted EBITDA was $18,592,000 compared to $9,592,000 a year ago. Cash Flow from operations was $17,982,000 compared to $5,730,000 a year ago. Net income was $8,201,000 or $0.228 per basic and diluted share compared to $3,916,000 or $0.109 per basic and diluted share a year ago. For nine months, the company reported revenue of $90,954,000 compared to $82,477,000 a year ago. Adjusted EBITDA was $46,866,000 compared to $38,192,000 a year ago. Cash Flow from operations was $37,319,000 compared to $9,218,000 a year ago. Net income was $21,366,000 or $0.594 per basic and diluted share compared to $14,905,000 or $0.414 per basic and diluted share a year ago. The increase in adjusted EBITDA for the third quarter and the nine month period ended September 30, 2014 compared to 2013 is mainly due to the increase in revenues and higher gross margins recorded during the period. This has been the result of the measures taken by the company to increase operating efficiencies and reduce costs that has been implementing since the third quarter of 2013. The increase in operating cash flow is mainly the result of the higher revenues, higher gross margins and a $12.0 million positive impact on working capital driven by workers profit sharing and tax adjustments in 2014. The increase in revenues for the third quarter and the nine month period ended September 30, 2014 compared to 2013 is mainly as a result of higher lead grades, higher silver and lead recoveries and a higher volume of concentrate sold. This was partially offset by the decrease in silver and copper commodity prices compared to 2013.

Sociedad Minera Corona, SA Announces Unaudited Earnings and Operating Results for the Second Quarter and Six Months Ended June 30, 2014

Sociedad Minera Corona, SA announced unaudited earnings and operating results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported revenue was $31 million against $27.27 million a year ago. The increase in revenues for the second quarter of 2014 compared to the second quarter of 2013 is mainly as a result of the higher lead head grades, higher silver and lead recoveries and a higher volume of mineral sold. This was partially offset by the decrease in the commodity prices compared to 2013. Cash flow from continuing operations was $10.49 million against $2.68 million a year ago. Net income of $7.0 million or $0.194 per share for the second quarter of 2014 compared to $1.8 million or $0.051 per share for the same period in 2013. Adjusted EBITDA of $15.4 million for the second quarter of 2014 compared to $11.4 million for the same period in 2013. The increase in adjusted EBITDA for the second quarter of 2014 compared to the second quarter of 2013 is mainly due to the increase in revenues and higher gross margins recorded during the period. For the six months, the company reported revenue was $58.9 million against $60.55 million a year ago. Cash flow from continuing operations was $19.34 million against $3.49 million a year ago. The increase in operating cash flow is mainly the result of the higher revenues and gross margins and a $8.5 million positive impact on working capital driven by lower payments of workers' profit sharing and taxes in 2014. Net income of $13.2 million or $0.366 per share and $11.0 million or $0.305 per share for the six months ended June 30, 2014 and 2013, respectively. Adjusted EBITDA of $28.3 million and $28.6 million for the six months ended June 30, 2014 and 2013, respectively. The company reported silver (Ag) production of 479,254 oz in the second quarter of 2014 compared to 481,058 oz for the same period in 2013. Copper ("Cu") production of 1.8 million pounds ("lb") in the second quarter of 2014 compared to 1.7 million lb for the same period in 2013. Lead ("Pb") production of 11.2 million lb in the second quarter of 2014 compared to 9.4 million lb for the same period in 2013. Zinc ("Zn") production of 13.5 million lb in the second quarter of 2014 compared to 12.1 million lb for the same period in 2013. Gold ("Au") production from the Yauricocha Mine was 1,480 oz in the second quarter of 2014 and 1,800 oz for the same period in 2013. The company reported silver (Ag) production of 973,548 oz and 955,660 oz for the six month period ended June 30, 2014 and 2013, respectively. Copper ("Cu") production of 3.5 million pounds ("lb") and 3.9 million pounds ("lb") for the six month period ended June 30, 2014 and 2013, respectively. Lead ("Pb") production of 22.9 million pounds ("lb") and 17.8 million pounds ("lb") for the six month period ended June 30, 2014 and 2013, respectively. Zinc ("Zn") production of 26.2 million pounds ("lb") and 25.2 million pounds ("lb") for the six month period ended June 30, 2014 and 2013, respectively. Gold ("Au") production of 2,954 oz and 3,398 oz for the six month period ended June 30, 2014 and 2013, respectively.

Sociedad Minera Corona, SA Announces Unaudited Financial and Production Results for the First Quarter Ended March 31, 2014

Sociedad Minera Corona, SA announced unaudited financial and production results for the first quarter ended March 31, 2014. For the quarter, the company reported revenue of $27.908 million against $33.285 million a year ago. Adjusted EBITDA was $12.913 million against $17.216 million a year ago. Cash flow from continuing operations was $8.842 million against $0.809 million a year ago. The increase in operating cash flow mainly resulted from a $9.2 million positive impact on working capital driven by lower payments of worker's profit sharing and taxes in 2014. The decrease in revenue was mainly driven by lower commodity prices. Silver production of 494,294 oz in the first quarter of 2014 compared to 474,601 oz for the same period in 2013. Copper production of 1.7 million pounds in the first quarter of 2014 compared to 2.2 million lb for the same period in 2013. Lead production of 11.7 million lb in the first quarter of 2014 compared to 8.4 million lb for the same period in 2013. Zinc production of 12.7 million lb in the first quarter of 2014 compared to 13.0 million lb for the same period in 2013. Gold production from the Yauricocha Mine was 1,474 oz in the first quarter of 2014 and 1,598 oz for the same period in 2013.

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Rush University United States
Citizens Budget Commission United States

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact Sociedad Minera Corona, SA, please visit www.mineracorona.com.pe. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.