|Bid||11.080 x 4000|
|Ask||11.110 x 3200|
|Day's Range||11.07 - 11.30|
|52 Week Range||10.45 - 20.25|
|Beta (3Y Monthly)||2.35|
|PE Ratio (TTM)||5.14|
|Forward Dividend & Yield||0.20 (1.83%)|
|1y Target Est||N/A|
It seems like it’s already time iron ore prices gave way to weakness. On November 26, iron ore prices collapsed, recording their largest one-day fall of 8.4% since April 2017. The day marked iron ore’s fifth straight day of falling.
Vale (VALE) stock has seen a significant shift in ratings over the last one year. Currently, 73.0% of analysts covering Vale stock recommend a “buy” compared with 56.0% at the end of April. Approximately 23.0% of analysts recommend a “hold,” and 4.0% recommend a “sell.” Vale’s target price implies a 30% upside based on its current market price.
Vale (VALE) is expecting its cash flows to significantly expand going forward. The company has identified several levers to help future cash flows. Let’s take a look at those levers.
In the previous articles, we discussed China’s steel and aluminum exports. While China (FXI) accounts for the bulk of global steel and aluminum capacity, it lacks in copper deposits and is the largest copper importer. China imported 423,000 metric tons of unwrought copper last month, a YoY fall of 3.0%.
A whopping number of 13F filings filed with U.S. Securities and Exchange Commission have been processed by Insider Monkey so that individual investors can look at the overall hedge fund sentiment towards the stocks included in their watchlists. These freshly-submitted public filings disclose money managers’ equity positions as of the end of the three-month period […]
Vale (VALE) hosted Vale Day in New York on December 4. It’s aiming at maintaining discipline in capital allocation and remains committed to continuing to distribute free cash flow to shareholders. Vale’s president and CEO, Fabio Schvartsman, said, “We made in this bold remark that Vale would be the company to generate more value to its shareholders.
Ivan Glasenberg, chief executive of mining giant Glencore Plc (GLEN.L) since 2002, said last month he would retire over the next three to five years, sparking speculation about which of his industry peers could be next to go. At least one other global mining giant has approached rival executives about their interest in moving, according to two sources. The CEOs of Freeport McMoRan Inc (FCX.N), Teck Resources Ltd (TECKb.TO), Agnico Eagle Mines Ltd (AEM.TO) and Southern Copper Corp (SCCO.N) have been in their roles for more than 10 years, eclipsing the industry average of seven years.
Titans of the mining industry who have led the industry through myriad storms for decades are set to retire over the next few years, a once-in-a-generation turnover that has sparked a search for fresh talent with far different skills than current executives. Ivan Glasenberg, chief executive of mining giant Glencore Plc since 2002, said last month he would retire over the next three to five years, sparking speculation about which of his industry peers could be next to go. The CEOs of Freeport McMoRan Inc, Teck Resources Ltd , Agnico Eagle Mines Ltd and Southern Copper Corp have been in their roles for more than 10 years, eclipsing the industry average of seven years.
This article is written for those who want to get better at using price to earnings ratios (P/E ratios). We’ll look at Freeport-McMoRan Inc’s (NYSE:FCX) P/E ratio and reflect on Read More...
Comparative analysis Freeport-McMoRan (FCX) posted an adjusted EBITDA of $1.8 billion in the third quarter. The company posted an EBITDA of $2.1 billion in the second quarter and $1.6 billion in the third quarter of 2017. The sequential decline in Freeport-McMoRan’s earrings, like other copper miners, was due to lower copper prices. After peaking in June, copper prices have come under pressure due to concerns about Chinese demand and the trade war. Southern Copper’s (SCCO) third-quarter EBITDA of $868 million was comparable to the third quarter of 2017. ...
Previously, we discussed copper miners’ production profiles and 2018 guidance. In this part, we’ll look at leading copper producers’ unit cash costs and see what’s impacted their unit cost progression.
A good part of 2019 earnings expectations could depend on a tariff deal between President Trump and China's President Xi Jinping.
U.S. stock futures are slipping slightly this morning paring yesterday’s substantial gains. Dovish comments from Federal Reserve Chairman Jerome Powell that interest rates were close to neutral sent traders into a buying binge Wednesday. In the options pits, traders gobbled up calls yesterday as overall volume levels surged back from the holiday lull.
In 2018, labor contracts at several leading copper mines came up for negotiation. Analysts expected disruptions in the copper supply due to labor disruptions. However, the copper supply has been smooth in 2018. Analysts build a disruption allowance in their models due to copper’s unpredictable supply. Most copper mining companies provide a guidance range instead of a specific guidance. In this part, we’ll discuss leading copper miners’ production guidance.
In this part, we’ll discuss leading copper miners’ third-quarter production data. By looking at top copper miners’ production profiles, we can get crucial insight into the global copper supply.
The third-quarter earnings season is nearly over. Most copper miners (XME) including First Quantum Minerals (FM) and Freeport-McMoRan (FCX) have released their third-quarter results. Diversified miners like Rio Tinto (RIO) and BHP Billiton (BHP) have only released their operating performance. They only release their half-yearly and annual financial results.
Indonesian President Joko Widodo called on Thursday for an "immediate" end to issues holding up the country's plans to acquire a majority stake in Freeport-McMoRan Inc's giant Grasberg copper mine in Papua. For Widodo, seeking reelection next year, getting a majority stake in the mine for Indonesia would be a political boon. The deal, which would give Indonesia and state-owned miner PT Inalum a 51.23 percent stake in PT Freeport Indonesia, aims to end years of wrangling over ownership rights to Grasberg, the world's second-biggest copper mine.
Indonesia President Joko Widodo urged on Thursday for an "immediate" end to issues holding up the finalisation of the state's plans to acquire a majority stake in Freeport-McMoRan Inc's Grasberg copper mine. The deal, where Indonesia and state-owned miner PT Inalum will control a 51.23 percent stake in PT Freeport Indonesia, is expected to end years of wrangling over ownership rights to Grasberg, the world's second-biggest copper mine.
Stock charts of TJX Companies (NYSE:TJX), Freeport-McMoRan (NYSE:FCX) and United Technologies (NYSE:UTX) are shaping up as Tuesday’s best bets, and two of those three are dancing with more downside. Back in mid-August when we last looked at Freeport-McMoRan, we pointed out the downtrend was relatively well framed by falling support and resistance lines. Click to Enlarge • The three support lines, plotted with white dashed rays, are more or less aligned with one another and support one another.
Freeport-McMoRan (FCX), the leading US-based copper miner, has lost 42.7% YTD (year-to-date) based on the closing prices on November 23. Other copper miners like Southern Copper (SCCO) and Antofagasta (ANTO) have also fallen in 2018. Vale (VALE) is in the green in 2018. Iron ore prices have been relatively strong despite the rout in other metals (XME).
First Quantum Minerals (FM) has received “strong buy” ratings from eight analysts, while nine have given it “buy” ratings or some equivalent. The remaining five analysts polled by Thomson Reuters on November 22 have rated the stock as a “hold.”
As we noted previously, Alcoa (AA) is trading near its 52-week lows. Century Aluminum’s (CENX) price action hasn’t been any better in 2018. While Century Aluminum hailed President Trump’s move and announced a plant restart after the tariffs, Alcoa’s response has been mixed. Initially, the company took a balanced approach and requested that the Trump Administration address the core issue of Chinese overcapacity.
China is the world’s biggest metal consumer. In 2015, metal prices fell due to concerns about Chinese demand. In 2018, concerns about China’s growth outlook have sent jitters across metal prices.
Southern Copper (SCCO) has received a “buy” rating from only one analyst, while three have given it “hold” ratings. Three analysts have given it “sell” ratings, and the remaining analyst polled by Thomson Reuters on November 22 has given the stock a “strong sell” rating. Southern Copper has the lowest percentage of “buy” ratings among the copper miners we’re covering in this series.