|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||4.62 - 4.81|
|52 Week Range||2.60 - 5.32|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.04 (0.77%)|
|1y Target Est||N/A|
Moody's Investors Service, ("Moody's") assigned a Ba3 rating to Commercial Metals Company's (CMC) proposed $350 million senior unsecured notes due in April 2026. Proceeds, together with the term ...
Gerdau's (GGB) divestment of its North American assets, including two downstream facilities and one wire rod mill, is going to help it enhance profitability from the rest of the assets in the region.
Brazil's steel industry is set for a continued turnaround in 2018 amid pick-up in demand, but rising protectionism may become a larger concern going ahead, says Moody's Investors Service in a new report. ...
Seasonal demand pick-up coupled with high lead times have positively impacted flat-rolled steel prices. It’s also worth noting that U.S. Steel (X) and AK Steel (AKS) took some of their flat-rolled capacity offline in 2015 in response to falling spot steel prices. Rebar prices have underperformed HRC (hot rolled coil) recently.
Moody's Investors Service, ("Moody's") comments that the proposed 25% US tariff on its steel imports, which President Donald Trump will likely formally enact this week, will not dramatically ...
On the 4Q17 earnings call, ArcelorMittal’s (MT) CEO, Lakshmi Mittal, outlined a new capital allocation strategy. According to Mittal, “Mostly, we will continue to prioritize deleveraging, we believe that a net debt level of $6 billion with an appropriate target to sustain investment-grade rating metrics and support positive free cash flow even in the low point on the cycle. A few years back, ArcelorMittal set itself a medium-term net debt target of $15 billion.
Along with releasing its 2017 results, Kinross Gold (KGC) also announced an acquisition of two hydroelectric power plants in Brazil from a subsidiary of Gerdau (GGB). The rationale behind this acquisition is to secure long-term, low-cost power for its Paracatu mine in Brazil. This power should lower the overall production costs for the company’s Paracatu mine over its mine-life.
Kinross Gold (KGC) released its 4Q17 and 2017 results on February 14, after the market closed, and held a conference call with analysts on February 15. Kinross Gold stock dropped ~7% on February 15, underperforming the VanEck Vectors Gold Miners ETF (GDX), which fell just 1.0%. Goldcorp (GG) and Barrick Gold (ABX) also released their 4Q17 results on February 14 and held earnings calls the next day.
Gerdau's (GGB) divestment deal, related to two hydroelectric power plants in Goias with a business unit of Kinross Gold, will strengthen the company's core operations upon completion.
As we discussed previously, ArcelorMittal (MT) has submitted its bid for Essar Steel. The acquisition, if completed, will provide ArcelorMittal with a strong platform in India. Notably, ArcelorMittal doesn’t have a major presence in India.
Brazilian steelmaker Cia Siderúrgica Nacional is considering selling assets to reduce debt but is not "under pressure" to do so as it expects to conclude talks to refinance its debt with state banks, a senior executive told Reuters on Wednesday. "We may opt to sell assets instead of being pressured to do it," director Luis Fernando Martinez said. CSN, as the company is known, put assets up for sale in 2016, but has only made one small deal.
Gerdau (GGB) is well poised to benefit from its diversified business structure that primarily includes crude steel production and iron ore mining activities.
Rating Action: Moody's upgrades Gerdau to Ba2; stable outlook. Global Credit Research- 12 Jan 2018. New York, January 12, 2018-- Moody's Investors Service upgraded to Ba2 from Ba3 Gerdau S.A.' s corporate ...
Jacksonville's 280-employee steel mill was among the Gerdau (GGB) assets purchased by Commercial Metals Company (CMC) this month. Jacksonville's 600-acre facility is more than 40 years old and transforms 100 truckloads of scrap metal per-day into steel rebar. Now is a good time to be a producer of rebar, according to Lee Keevican, managing director of Renaissance Partners and former general counsel to Standard Steel (Freedom Forge Corporation) and American Alloys.
Irving-based Commercial Metals Company (CMC) acquired U.S. assets from Gerdau S.A. (GGB), a Brazilian steel company, in exchange for $600 million, the companies announced Tuesday. The move significantly bolsters Commercial Metals' capacity to produce reinforcing bar, or rebar, which is a key material used in the construction of buildings, bridges and roads. The addition of 2.7 million tons of melt capacity from Gerdau will increase Commercial Metals' capacity to 7.2 million tons, a 60 percent increase.
Announcement: Moody's comments that Gerdau's asset sale in the United States is credit positive. Global Credit Research- 03 Jan 2018. New York, January 03, 2018-- Moody's Investors Service comments that ...
Gerdau (GGB) has agreed to sell its U.S.-based rebar operations for $600 million. The deal, when completed, will help the company strengthen its core operations and lower its debt burden.
Gerdau S.A., a Brazilian steel manufacturer, has sold a number of its assets to Commercial Metals Company for $600 million. The transaction includes Jacksonville's 280-employee steel mill. Commercial Metals (CMC), an Irving, Texas steel producer, agreed to pay $600 million to buy 33 rebar fabrication facilities in the U.S., as well as four steel mills.
Rating Action: Moody's reviews Commercial Metals ratings for downgrade on Acquisition Announcement. Global Credit Research- 02 Jan 2018. New York, January 02, 2018-- Moody's Investors Service, placed Commercial ...
Commercial Metals Co. will pay $600 million to buy some of Gerdau S.A.’s U.S. assets, including several Florida facilities. Commercial Metals (CMC), an Irving, Texas steel producer, will acquire 33 rebar fabrication facilities in the U.S., as well as four steel mills, a press release said. A steel mill in Jacksonville, including its recycling facility, is part of the purchase, as are related downstream fabrication facilities, technical resource centers, storage depots and placing facilities in Tampa, Fort Lauderdale, Jacksonville and 23 other locations, according to the purchase agreement filed Tuesday morning with the U.S. Securities and Exchange Commission.