In the case of Cemex, before the pandemic, its industry had already experienced difficult years that were accentuated by the health crisis, generating lower production volumes and complications in margins due to increases in energy prices that undermined its financial situation, according to with Elisa Vargas, industrial analyst at BX+.
The cement company has also faced a perspective issue in that the world economy has not recovered and that the demand for cement and concrete will not be as high. However, at the end of last year there was a recovery in the sector and Cemex’s listing prices improved slightly, although they are still far from all-time highs, Álvarez added.
As for Alfa, it is undergoing a corporate restructuring process to stop being a holding company, which has caused slow growth in its revenues and profits, since the weak performance of some of its divisions has limited the growth of others. that have had good results.
Its spin-off process has been slow and has caused expectations to be weak for this station. Even one of its main divisions, which is Sigma, has shown moderate growth in recent years, which is why its attractiveness has diminished, Delgado explained.
For their part, the mining companies come from a difficult 2022, with a lower production level than the previous one and a decrease in the price of metals, which has led them to have a high comparison base that has not favored them in the market.
In the case of Grupo México, its industry is closely related to the issue of development in the economies that are the main consumers. “Last week we were able to see that with the relaxation of anti-covid measures in China, the mining company’s shares had a boost,” Vargas said.
For Peñoles, the fall in the price of its shares does not come so much from the price of precious metals such as gold and silver, but rather from the operational side, since it is intensive in the use of energy resources to obtain metals, such as gas, and therefore its costs increased. For Álvarez, the firm has had significant pressures at the operational level and therefore the change in investor expectations that has moved it away from all-time highs.