{"id":328911,"date":"2024-08-13T10:01:11","date_gmt":"2024-08-13T02:01:11","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=328911"},"modified":"2024-08-13T10:01:12","modified_gmt":"2024-08-13T02:01:12","slug":"stock-in-focus-semirara-mining-and-power-corporation-scc-13-aug-2024-by-rcbc-securities","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/stock-in-focus-semirara-mining-and-power-corporation-scc-13-aug-2024-by-rcbc-securities\/","title":{"rendered":"Stock in Focus: Semirara Mining and Power Corporation (SCC) &#8211; 13 Aug 2024 by RCBC Securities"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Summary of Broker&#8217;s Recommendation<\/h2>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><tbody><tr><td><strong>Stock Code<\/strong><\/td><td>SCC<\/td><\/tr><tr><td><strong>Company Name<\/strong><\/td><td>Semirara Mining and Power Corporation<\/td><\/tr><tr><td><strong>Broker<\/strong><\/td><td>RCBC Securities<\/td><\/tr><tr><td><strong>Opinion Issued on<\/strong><\/td><td>12 Aug 2024<\/td><\/tr><tr><td><strong>Recommendation<\/strong><\/td><td>Hold<\/td><\/tr><tr><td><strong>1-Year Target Price<\/strong><\/td><td>PHP 34.00<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<div style=\"height:26px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>We lowered our 2024\/2025 forecasts for Semirara Mining and Power Corp. (SCC) primarily due to the continued decline in coal prices. We cut our target price (TP) to Php34.00, now offering a narrower 6.3% upside. We believe SCC will continue to experience lower coal prices as the Chinese economy underperforms. In addition, the growing power generation will likely temper the growth of average selling prices (ASPs) of coal and even the wholesale electricity spot market (WESM).<\/p>\n\n\n\n<div style=\"height:26px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Analysis and Opinion<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">Earnings recap<\/h3>\n\n\n\n<p>SCC reported a core net income of Php12.6 billion, 34% down year-on-year (y\/y). Consolidated revenues declined by 18% to Php36.6 billion, as coal&#8217;s average selling price dropped by 33% with increased production and slower demand. Cash cost slid by 6% to Php19.8 billion on lower fuel costs and the lower government share. As a result, EBITDA tumbled by 29% to Php16.8 billion.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Dividend play<\/h3>\n\n\n\n<p>Based on its current price, SCC remains to have one of the highest dividend yields in the index, over 14%. We believe the company can sustain this level next year as the cash balance remains high at Php13.9 billion.<\/p>\n\n\n\n<div style=\"height:26px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Check how many brokers recommend this stock<\/h2>\n\n\n\n<figure class=\"wp-block-embed aligncenter is-type-wp-embed is-provider-pinoyinvestor wp-block-embed-pinoyinvestor\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"wp-embedded-content\" data-secret=\"IkJGsDJpF8\"><a href=\"https:\/\/www.pinoyinvestor.com\/smartinvestor\/stock-rankings-all-stocks\/\">All Stock Rankings<\/a><\/blockquote><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"&#8220;All Stock Rankings&#8221; &#8212; PinoyInvestor\" src=\"https:\/\/www.pinoyinvestor.com\/smartinvestor\/stock-rankings-all-stocks\/embed\/#?secret=KX3a1YeFxi#?secret=IkJGsDJpF8\" data-secret=\"IkJGsDJpF8\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe>\n<\/div><\/figure>\n\n\n\n<div style=\"height:26px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p style=\"font-size:16px\"><em><em>This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about <a href=\"https:\/\/www.pinoyinvestor.com\/smartinvestor\/our-partner-brokers\/\">our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Our recommendation and 1-year Target Price for this stock is<\/p>\n","protected":false},"author":1685,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-328911","post","type-post","status-publish","format-standard","hentry","category-stocks-in-focus","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/328911","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/1685"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=328911"}],"version-history":[{"count":2,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/328911\/revisions"}],"predecessor-version":[{"id":328919,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/328911\/revisions\/328919"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=328911"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=328911"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=328911"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}