|Bid||14.48 x 900|
|Ask||14.49 x 800|
|Day's Range||14.23 - 14.74|
|52 Week Range||9.53 - 16.13|
|Beta (3Y Monthly)||1.78|
|PE Ratio (TTM)||20.79|
|Forward Dividend & Yield||0.51 (3.48%)|
|1y Target Est||17.33|
As we saw in the previous part of this series, iron ore prices have stood their ground despite growing headwinds for China (FXI). As we discussed in the previous part, one of the factors driving iron ore’s resilience is the stocking up by mills ahead of winter production curbs. As restocking completes and winter cuts kick in, the demand for iron ore from China could take a hit.
Chinese authorities imposed curbs on steel production last year ahead of winter months to reduce pollution. Steel mills are therefore in restocking mode to advance steel production before the curbs kick in. China’s iron ore import data for September also underscored this fact.
Brazil's Vale SA on Friday launched a buy-back offer for bonds worth up to $1 billion, a securities filing from the world's largest iron ore miner showed. The bonds are due between 2022 and 2042 and the ...
The elite funds run by legendary investors such as Dan Loeb and David Tepper make hundreds of millions of dollars for themselves and their investors by spending enormous resources doing research on small cap stocks that big investment banks don’t follow. Because of their pay structures, they have strong incentive to do the research necessary […]
NEW YORK, Nov. 01, 2018 -- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors,.
Can Iron Ore Maintain Its Price Momentum amid China's Slowdown? China’s manufacturing growth in October was at its weakest level in over two years. The PMI reading for China was the lowest since July 2016.
Brazil stocks reversed lower despite investor-friendly right-wing candidate Jair Bolsonaro winning the country's presidential election over Workers' Party candidate Fernando Haddad.
Brazilian stocks jumped to the highest level on record Monday following a decisive victory for free-market proponent Jair Bolsonaro in yesterday's Presidential elections that could trigger moves to privatize some of Latin America's biggest companies amid broader economic reforms. Bolsonaro, the first candidate with military experience to lead Brazil since the mid 1980s, has vowed to tackle corruption, crime and 'elitism' in the world's fourth-largest democracy, won 55.2% of Sunday's vote in a run-off against left-wing rival Fernando Haddad. The 64-year old former Army captain has also said he wants broader fiscal reforms in Latin America's biggest economy and will likely appoint the highly-respected Paulo Guedes in the country's top fiance post.
Brazil's Vale SA , the world's largest iron ore producer, on Wednesday posted $1.408 billion in third-quarter net income, below the 2.23 billion in the year-ago period, and less than analysts' estimate ...
Vale (VALE) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
VALE S.A. (VALE) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Brazilian pension fund Previ, one of iron ore miner Vale SA's largest shareholders, will not sell part of its stake before the year ends, its chief executive officer said on Monday. Speaking on the sidelines of a conference in Rio de Janeiro, CEO Jose Mauricio Coelho said the fund intended to reduce its stake in the miner over the medium term. Previ had previously announced plans for the sale without saying when.
In the previous article, we noted that several miners, including BHP Billiton (BHP), Vale (VALE), and Rio Tinto (RIO), have announced share buybacks. While stock prices get all the attention, for mining companies with a significant amount of debt, we should also look at EV (enterprise value). Freeport has an EV of ~$28 billion.
Earlier this year, Goldman Sachs said US stock buyback authorizations could top $1 trillion this year, which would be the highest absolute level of buybacks since 2007. Recently, Alcoa (AA), the largest US-based aluminum producer, announced a $200 million share buyback. Other metals and mining companies including Vale (VALE) and BHP Billiton (BHP) have also announced share buybacks this year.
In the previous article, we learned what analysts are projecting for Freeport-McMoRan’s (FCX) third-quarter earnings results. In this article, we’ll look at the key updates the markets might be expecting on Freeport’s third-quarter earnings call. Grasberg concerns have dominated Freeport’s earnings calls for the last several quarters.
China, where subsidy-toting drivers own a third of the world’s passenger EVs, is doing the most to fuel the boom. The market value of batteries used in electric cars, electric buses and related energy storage should multiply by about 10 times to a potential $500 billion by 2050, according to Sanford C. Bernstein & Co. research. A Bloomberg News analysis of about 80 companies in the lithium-ion battery business shows the technology’s ascent rippling through a global web and boosting providers of raw materials and components—suppliers that, in several cases, predate the 1908 introduction of Ford Motor Co.’s Model T.
BHP managed the same production boost, with only Rio Tinto losing ground after a death at one of its pits in Australia’s northwest. The mystifying thing about this price action is that it’s confounded by China’s consumption data.
Has Freeport-McMoran Stock Finally Bottomed Out? While mining companies have been conservative when it comes to capital expenditures, copper has been a different story. Diversified miners such as BHP Billiton (BHP), Rio Tinto (RIO), and Vale (VALE) have looked open to organic as well as inorganic growth opportunities in copper.
As we noted previously in this series, copper miners such as Southern Copper (SCCO), Rio Tinto (RIO), and First Quantum Minerals (FM) have been subdued this year amid lower copper prices. In a Bloomberg interview, Freeport-McMoRan’s (FCX) CEO, Richard Adkerson, noted that “any strategic move is now possible, including acquisitions, partnerships, or even a sale of the entire company.”
Has Freeport-McMoran Stock Finally Bottomed Out? Copper prices, like other commodities (XME), are impacted by the underlying supply-demand dynamics in the medium to long term. Copper miners such as Freeport-McMoRan (FCX) have noted that despite the trade war tensions, Chinese copper demand has been resilient this year.
As we noted in the previous article, copper prices have sagged this year. Resilient mined copper supply and the US-China trade war have taken a toll on copper prices. The global growth outlook has also become murky amid the US-China trade tensions.
Major Brazilian mining company Vale SA will only make new investments in nickel if global prices for the metal rise from their current price below $13,000 per tonne to around $20,000 per tonne, the firm's ...