Supreme Court denies Peñoles tax relief: MXN 977 target for Industrias Peñoles stock

Published on 10/15/2026 at 10:14 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Q2 revenue reached USD 2.89 billion and diluted EPS was USD 1.62. Industrias Peñoles stock costs EUR 42.00 on October 15, 2026, versus an MXN 977 target.

Tax ruling and earnings context

The Supreme Court rejected Peñoles' tax appeal on October 3, 2026, in a seven-vote decision.
Second-quarter revenue reached USD 2.89 billion, while diluted earnings per share came to USD 1.62.
Industrias Peñoles stock trades at EUR 42.00 at 10:04 a.m. CEST at Lang & Schwarz on October 15, 2026.

Industrias Peñoles, MXP554091415, Illustration mit AI erstellt.

Industrias Peñoles (ISIN MXP554091415) was trading at EUR 42.00 at Lang & Schwarz on October 15, 2026, at 10:04 a.m. CEST. The Mexican Supreme Court denied the mining group's appeal over diesel tax incentives on October 3, 2026, according to El Fondo. The latest analyst consensus cited by Investing.com sets an average 12-month target at MXN 977.00 from five analysts.

Three dates define the earnings path

Industrias Peñoles reported USD 3.44 billion in revenue for the first quarter of 2026 on April 28, 2026, followed by USD 2.89 billion for the second quarter on August 4, 2026, according to SilverTrade. The same source lists net income of USD 642.0 million and diluted earnings per share of USD 1.62 for the second quarter.

On October 3, 2026, seven Supreme Court justices backed the tax authority's conditions for the 2019 diesel and biodiesel incentive, as El Fondo reported. The case began in 2019, and one justice dissented from the ruling.

What does the tax ruling mean?

The decision keeps the legal conditions around the disputed tax incentive in place. The ruling addressed a minimum prior-year income requirement of MXN 50 million, alongside mining concession and tax-compliance conditions, according to El Fondo.

For the earnings comparison, Investing.com lists second-quarter revenue at USD 2.89 billion against USD 3.12 billion in the forecast, while diluted earnings per share came in at USD 1.62 against USD 1.46 expected. The next quarterly results are scheduled for October 26, 2026, according to TickerLandia.

Euro quote follows the legal backdrop

The company remains listed on the Mexican Stock Exchange, where its ticker is PE&OLES and its shares are included in the IPC, according to the company stock page. At Lang & Schwarz, the stock was trading at EUR 42.00 on October 15, 2026, at 10:04 a.m. CEST. The further course of trading is shown by the continuously updated real-time quote of Industrias Peñoles stock.