Core Insights - Amex Exploration Inc. announced significant assay results from a geomechanical drill program at the Champagne Zone, part of the Perron Project, with a notable assay of 213.11 g/t Au over 3.75 m, including a peak of 1106.50 g/t Au over 0.50 m, marking the highest grade assay to date on the property [1][3][4] - The geomechanical drilling program aims to gather data on rock mechanics to support the ongoing Phase 1 Feasibility Study, with initial results indicating good rock mass quality suitable for underground mining [3][4][10] Geomechanical Drill Results - The drill program consisted of three holes, with PEGT-25-001 yielding 25.19 g/t Au over 32.80 m, including the previously mentioned high-grade interval [4][18] - PEGT-25-002 returned 3.59 g/t Au over 11.70 m, with a notable 58.28 g/t Au over 0.70 m [4][20] - The results confirm the continuity of high-grade mineralization within the Champagne Zone, which is critical for the project's feasibility [3][4][10] Project Development and Feasibility Study - The Phase 1 Feasibility Study is progressing well, with the geomechanical drilling providing essential data for mine design and operational planning [3][10][27] - The study includes additional analyses on hydrogeology, geochemical properties of ore and waste, and environmental assessments, all of which are advancing positively [3][10] Geological and Rock Mass Characterization - The rock mass classification indicates a competent and rigid structure, with average unconfined compressive strength (UCS) of 116 MPa in rhyolite and 334 MPa in the diabase [15][16] - A dominant north-south trending joint set was identified, which will inform the mining sequence and risk assessments [16][17] Infrastructure and Location - The Perron Project is strategically located with excellent infrastructure, including proximity to major processing plants and accessibility via a year-round road [28][29]

Core Insights - América Móvil is open to consolidation opportunities in Latin America and acknowledges strategic progress in Chile and Brazil [1] Group 1: Strategic Developments - In Chile, América Móvil is jointly bidding with Entel for Spanish telecom assets despite facing intense competition and low market prices [1] - The Chilean market is performing well due to operational transformation and improved profitability [1] Group 2: Investments and Expansion - In Brazil, the subsidiary plans to acquire local broadband service provider Desktop [1] - The company continues to invest in fiber networks and enterprise digital services, emphasizing technological expansion and enhanced user experience to maintain regional leadership [1] - América Móvil operates in 18 countries, serving over 400 million users [1]

Subscriber Growth - América Móvil added over 3 million postpaid clients in Q3 2025, with Brazil contributing 1.5 million, followed by Colombia (251 thousand), Peru (198 thousand), and Mexico (98 thousand) [3] - The company added 235 thousand wireless subscribers in Q3 2025, including 98 thousand postpaid clients, bringing the total wireless subscriber base to 84.3 million [41] - In Brazil, the company gained 849 thousand new wireless subscribers, including 1.5 million postpaid clients, resulting in a total of over 89 million wireless subscribers [52] - The company added 488 thousand mobile subscribers in Colombia, including 251 thousand postpaid subscribers, marking seven consecutive quarters of growth in this segment [63] - Wireless subscribers in Ecuador reached 9.7 million, with a net disconnection of 320 thousand in the prepaid segment during Q3 2025 [89] - In Argentina, wireless subscribers increased by 394 thousand, reaching a total of 27.1 million, a 5.7% year-over-year growth [97] - Wireless subscribers in Chile, Paraguay, and Uruguay decreased by 4.1% year-over-year to 8,771 thousand, with postpaid subscribers increasing by 8.7% to 5,002 thousand, while prepaid subscribers fell by 17.0% to 3,769 thousand [113] - The company added 49 thousand wireless subscribers in the Dominican Republic, bringing the total to 8 million in the Caribbean [115] Financial Performance - Total revenues for Q3 2025 reached 232.9 billion Mexican pesos, up 4.2% in Mexican peso terms and 6.2% at constant exchange rates, with service revenue also expanding at a 6.2% pace [3] - EBITDA for Q3 2025 totaled 93.8 billion Mexican pesos, up 4.9% in nominal terms and 6.8% at constant exchange rates, with an EBITDA margin of 40.3% [3] - Net income for Q3 2025 was 22.7 billion Mexican pesos, reflecting a significant reduction in comprehensive financing costs compared to the previous year [3] - Free cash flow for the nine months ending September 2025 allowed América Móvil to cover 28.6 billion pesos in shareholder distributions, including 10.8 billion pesos in share buybacks [3] - Operating profit increased by 5.6% to 50.1 billion Mexican pesos, with comprehensive financing costs reduced by approximately 50% year-on-year [26] - Free cash flow for the first nine months of 2025 was 52.99 billion pesos, a significant increase of 47.0% compared to the same period in 2024 [38] - Total revenue for Q3 2025 reached 85.5 billion Mexican pesos, a 2.0% increase year-on-year [42] - Mobile service revenue grew by 4.9% year-on-year, marking its best performance since Q1 2024 [42] Revenue Growth by Region - Total revenue in Brazil for Q3 2025 reached 13,011 million BrL, a 5.4% increase year-over-year, with service revenue growing by 5.1% to 12,312 million BrL [61] - In Colombia, total revenue for Q3 2025 was 4,135 billion COP, reflecting a 5.9% year-over-year growth, with mobile service revenue increasing by 7.8% [66] - Central America reported a total revenue increase of 10.8% year-over-year to 741 million USD, with mobile service revenue rising by 12.8% [72] - In Peru, total revenue for Q3 2025 was 1,743 million soles, a 3.1% increase year-over-year, with mobile service revenue growing by 4.9% [84] - Total revenue in Ecuador increased by 1.6% year-over-year to $257 million, while service revenue also rose by 1.6% [90] - In the Chile, Paraguay, and Uruguay region, total revenue grew by 9.0% year-over-year to 334.8 billion Chilean pesos [109] - Total revenue in the Caribbean decreased by 1.2% year-over-year to 475 million dollars, with total service revenue also down by 1.2% to 420 million dollars [118] - In Puerto Rico, service revenue increased by 1.4% year-over-year, reversing a negative trend, with fixed-line service revenue rising by 4.1% driven by strong growth in PayTV and broadband revenue [117] Debt and Cash Flow - The net debt at the end of September 2025 stood at 454 billion pesos, equivalent to 1.55 times Net Debt/LTM EBITDAaL [3] - Total debt as of September 2025 was 550,176 million Mexican pesos, down from 568,482 million in December 2024, reflecting a decrease of 3.2% [138] - Net debt as of September 2025 was 453,588 million Mexican pesos, a reduction from 485,146 million in December 2024, showing a decrease of 6.5% [138] - Net cash flows from operating activities for Jan-Sep 2025 were 186,665 million Mexican pesos, up from 158,072 million in Jan-Sep 2024, representing a 18.1% increase [136] Capital Expenditures and Investments - The company continues to focus on capital expenditures related to the expansion of telecommunications infrastructure, with capital expenditures of 84,870 million Mexican pesos for Jan-Sep 2025 [136] - América Móvil returned to the euro market with a 650 million euro bond at a 3% coupon, aimed at paying short-term debt [9] - The company was granted 100 MHz of spectrum in the 3.5 GHz band in Peru, which will support the expansion of its 5G network [83] - The company launched 5G services in Costa Rica, enhancing connectivity and customer experience across the region [74] Market Performance and Metrics - Average Revenue Per User (ARPU) increased by 16.5% year-over-year to $4.97, while churn rate rose to 7.2% from 5.0% [113] - The churn rate in Ecuador improved to 3.7%, down from 4.1% in the previous year [87] - The average exchange rate for the Euro decreased by 6.0% from 0.9096 in 3Q24 to 0.8555 in 3Q25 [134] - The average exchange rate for the Mexican Peso decreased by 1.5% from 18.9243 in 3Q24 to 18.6398 in 3Q25 [134] - The Argentinean Peso saw a significant increase of 42.2% in the end of period exchange rate from 970.5 in 3Q24 to 1,380.0 in 3Q25 [134]

Core Insights - America Movil (AMX) is a leading telecommunications company in Mexico, providing a variety of services including wireless, fixed-line, and broadband, primarily in Latin America [1] - Scotiabank has set a new price target of $19.50 for AMX, indicating a potential downside of approximately -12.26% from its current trading price of $22.23 [2][6] - AMX reported a significant increase in net income per ADR to 40 cents, surpassing the Zacks Consensus Estimate of 36 cents, with total revenues rising by 4.2% to Mex$232.9 billion [3][6] - The company experienced subscriber growth in regions such as Colombia, Argentina, and Central America, and its comprehensive financing cost decreased by 54.5% to Mex$12.9 billion [4] - Over the past year, AMX shares have surged by 30.5%, outperforming the Zacks Wireless Non-US industry growth of 22.8%, with a current market cap of approximately $67.57 billion [5][6]

Core Points - The article discusses the importance of enabling Javascript and cookies in browsers to avoid access issues [1] - It highlights that ad-blockers may prevent users from proceeding to the desired content [1] Summary by Categories Technical Requirements - Users are advised to enable Javascript and cookies in their browsers to ensure proper functionality [1] - The presence of ad-blockers can lead to restrictions in accessing content [1]

Financial Data and Key Metrics Changes - In the third quarter, total revenue reached 233 billion pesos, reflecting a year-over-year increase of 4.2% in Mexican peso terms and 6.2% at constant exchange rates [6][9] - EBITDA totaled 94 billion pesos, up 4.9% in nominal terms and 6.8% at constant exchange rates compared to the previous year [8][9] - Net income surged to 23 billion pesos, equivalent to $0.38 per share or $0.40 per ADR, with free cash flow increasing by 47% year-on-year to 53 billion pesos [9][10] Business Line Data and Key Metrics Changes - The postpaid client base increased by 8.1% year-over-year, with 3 million new postpaid clients added in the quarter [5][6] - Fixed broadband accesses grew by 5.1%, with 536,000 new broadband accesses added, including 211,000 in Mexico [5][6] - Mobile service revenue grew by 7.1%, the highest rate in two years, driven by a recovery in prepaid revenue, which expanded by 3.9% [6][7] Market Data and Key Metrics Changes - The U.S. dollar depreciated against several currencies in the region, declining 2.7% against the Mexican peso and 4.1% against the Colombian peso [4] - In Brazil, prepaid ARPU grew by 7.3%, indicating increased consumption and usage of services [27] Company Strategy and Development Direction - The company is evaluating potential acquisitions, including a joint bid with Entel for Telefónica assets in Chile, and is open to opportunities in Brazil [20][21] - Investments in network modernization and expansion, particularly in 5G technology, are ongoing to enhance competitiveness in various markets [38] Management's Comments on Operating Environment and Future Outlook - Management noted that the recovery in mobile prepaid revenues in Mexico is closely tied to economic conditions, with expectations for continued improvement [14] - In Colombia, the company is experiencing growth in service revenue and is optimistic about future performance despite competitive pressures [34] Other Important Information - The company returned to a trend where EBITDA growth outpaced revenue growth, which is expected to continue [8] - Capital expenditures totaled 85 billion pesos, with a focus on enhancing network capabilities and expanding service offerings [9] Q&A Session Summary Question: Mobile prepaid revenues in Mexico - Management indicated that the recovery in prepaid revenues is linked to economic improvement and expects this trend to continue into the fourth quarter [14] Question: Margin expansion in Chile, Uruguay, and Paraguay - Management clarified that margin expansion is due to operational improvements and synergies, with no significant one-off effects [15] Question: Potential acquisitions in Chile and Brazil - Management confirmed they are evaluating a joint bid for Telefónica assets in Chile and assessing opportunities in Brazil, with no binding commitments yet [20][21] Question: Competitive environment in Mexico - Management acknowledged strong competition but emphasized their superior network quality and customer service as key differentiators [25] Question: Performance drivers in Brazil's prepaid segment - Management noted significant investments in network coverage and 5G technology, contributing to growth in the prepaid segment despite some disconnections [27]

Financial Data and Key Metrics Changes - In Q3 2025, América Móvil reported total revenue of 233 billion pesos, up 4.2% in Mexican peso terms and 6.2% at constant exchange rates [6] - EBITDA totaled 94 billion pesos, increasing by 4.9% in nominal terms and 6.8% at constant exchange rates [9] - Net income surged to 23 billion pesos, equivalent to $0.38 per share or $0.40 per ADR, with free cash flow amounting to 53 billion pesos, a 47% increase year on year [10][11] Business Line Data and Key Metrics Changes - The postpaid client base increased by 8.1% year over year, with 3 million new postpaid clients added in the quarter [5][6] - Mobile service revenue grew by 7.1%, the fastest rate in two years, driven by a recovery in prepaid revenue, which expanded by 3.9% [7] - Fixed-line service revenue decelerated to 4.7% growth, impacted by a slowdown in corporate networks revenue, which fell from a 15% increase in Q2 to 3.5% in Q3 [8] Market Data and Key Metrics Changes - The U.S. dollar depreciated against several currencies in the region, declining 2.7% against the Mexican peso and 4.1% against the Colombian peso [4] - In Brazil, the company added 1.5 million postpaid clients, contributing significantly to overall growth [5] Company Strategy and Development Direction - The company is evaluating potential acquisitions, including a joint bid with Entel for Telefónica assets in Chile, indicating a strategy focused on market consolidation [18][19] - Investments in network modernization and customer service enhancements are ongoing, particularly in Chile, where the company has seen significant EBITDA growth [34] Management's Comments on Operating Environment and Future Outlook - Management noted that the recovery in mobile prepaid revenues in Mexico is closely tied to economic conditions, with expectations for continued improvement [14] - In Colombia, the company is optimistic about growth despite competitive pressures, with service revenue increasing by 7.8% [29] Other Important Information - The company reduced its net debt by 16 billion pesos, ending the quarter with a net debt of 454 billion pesos, equivalent to 1.55 times net debt to EBITDA after leases [11] Q&A Session Summary Question: Mobile prepaid revenues in Mexico recovery drivers - Management indicated that the recovery is closely related to economic conditions and expects continued improvement in mobile revenues [14] Question: Margin expansion in Chile, Uruguay, and Paraguay - Management confirmed that margin expansion is due to operational improvements and synergies, with no one-off accounting effects [15] Question: Potential acquisitions in Brazil and Chile - Management is evaluating opportunities in both regions, with a focus on strategic acquisitions that make sense for the company [18][19] Question: Competitive environment in Mexico - Management acknowledged strong competition but emphasized their superior network quality and customer service as key differentiators [22] Question: Performance drivers in Brazil's prepaid segment - Management noted that ARPU in Brazil's prepaid segment is growing at 7.3%, driven by increased consumption and network investments [26] Question: Competitive market update for Colombia and Chile - Management highlighted ongoing investments in fiber and network improvements, with expectations for continued growth despite competitive pressures [30][34]

Core Insights - Amer Movil (AMX) reported quarterly earnings of $0.4 per share, exceeding the Zacks Consensus Estimate of $0.36 per share, and showing significant growth from $0.11 per share a year ago, resulting in an earnings surprise of +11.11% [1] - The company posted revenues of $12.51 billion for the quarter ended September 2025, which was slightly below the Zacks Consensus Estimate by 0.42%, but an increase from $11.82 billion year-over-year [2] - Amer Movil's stock has increased by approximately 46.2% since the beginning of the year, outperforming the S&P 500's gain of 13% [3] Earnings Outlook - The future performance of Amer Movil's stock will largely depend on management's commentary during the earnings call and the revisions of earnings estimates [3][4] - The current consensus EPS estimate for the upcoming quarter is $0.17 on revenues of $13.27 billion, and for the current fiscal year, it is $1.42 on revenues of $49.7 billion [7] Industry Context - The Wireless Non-US industry, to which Amer Movil belongs, is currently ranked in the top 26% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked using tools like the Zacks Rank [5][6]

Core Insights - America Movil reported a more than threefold increase in third-quarter profit for 2025, indicating strong financial performance [1] - The company's revenues experienced a 4% increase, reflecting growth in its operations [1] Financial Performance - The profit for the third quarter of 2025 increased more than threefold compared to previous periods [1] - Revenues rose by 4%, showcasing a positive trend in the company's financial results [1]

Core Insights - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] - Amer Movil (AMX) currently holds a Momentum Style Score of B and a Zacks Rank of 2 (Buy), indicating potential for outperformance [2][3] Price Performance - AMX shares have increased by 0.53% over the past week, outperforming the Zacks Wireless Non-US industry, which rose by 0.28% [5] - Over the last month, AMX's price change is 4.84%, significantly higher than the industry's 0.19% [5] - In the longer term, AMX shares have gained 22.18% over the past quarter and 31.9% over the last year, while the S&P 500 has only increased by 7.89% and 17.66%, respectively [6] Trading Volume - The average 20-day trading volume for AMX is 2,094,028 shares, which serves as a bullish indicator when combined with rising stock prices [7] Earnings Estimates - In the past two months, one earnings estimate for AMX has increased, raising the consensus estimate from $1.41 to $1.46 for the full year [9] - For the next fiscal year, one estimate has also moved upwards, with no downward revisions during the same period [9] Conclusion - Considering the positive price performance, trading volume, and earnings outlook, AMX is positioned as a 2 (Buy) stock with a Momentum Score of B, making it a potential candidate for near-term investment [11]