|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||38.82 - 39.45|
|52 Week Range||27.86 - 39.45|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.35%|
Steel stocks are having a strong month. Based on January 12 closing prices, U.S. Steel Corporation (X) and AK Steel (AKS) have respectively gained 11.2% and 9.3% this month. Nucor (NUE) and Steel Dynamics (STLD) have also seen upward price action of 8.5% and 9.0% so far this month, respectively.
In this part of our series, we’ll see how markets are valuing Alcoa (AA). Specifically, we’ll look at the forward EV-to-EBITDA (enterprise value to earnings before interest, tax, depreciation, and amortization) multiple, which is the preferred valuation metric for metal and mining stocks. Alcoa is trading at 5.2x its 2018 consensus EBITDA and at 5.4x its consensus 2019 EBITDA.
The SPDR S&P Metals & Mining (ETF) (NYSEARCA:XME) is one of the strongest exchange-traded funds on the planet. Stocks entered the session already extended, and the S&P 500 gapped down on China bond worries. While the selling pressure lasted for thirty minutes in the S&P 500 before buyers fought back, it lasted all of one second in XME.
US Steel Industry’s 2018 Outlook: Can the Momentum Continue? In the previous part, we looked at the different factors that could deter the Trump administration from taking stringent action against steel imports. Although several economists have warned that import safeguards could do more harm than good, President Trump might not want to go back on a key electoral plank of protecting US manufacturing.
The “Job Openings and Labor Turnover Survey” (or JOLTS) data for November was reported on January 9 and contains information about job openings and total separations. Total separations include quits, layoffs and discharges, and other separations. As per the latest JOLTS report, about 3.2 million American workers quit their jobs voluntarily in November.
While analyzing iron ore demand, it is vital to track Chinese demand, since it consumes more than half of the seaborne-traded iron ore (COMT). In this article, we’ll discuss iron ore imports and Chinese steel production to assess its future outlook. China imported 94.5 million tons of iron ore in November 2017, which is an increase of 2.8% year-over-year (or YoY) and 18.9% sequentially.
It's been a turbulent few years for the global mining industry, as Bernstein's Paul Gait and his team point out on Wednesday, but can 2018 be "the year of redemption" for the stocks? Gait writes that 2017 was a strong year for commodity prices, so much so that prices largely blew past analysts' expectations. More from his note: Finally, we show that despite upward revisions, consensus forecasts still imply an overlypessimistic vision of global mining profitability and global economic growth.
The looming Section 232 deadline is among the reasons Wall Street seems to be warming up to steel stocks such as U.S. Steel Corporation (X) and AK Steel (AKS).
The Federal Reserve released its November industrial production report on December 15, 2017. The report indicated that industrial production improved 0.2% in November.
Metal stocks are waking up. With inflation expectations ratcheting higher and the anticipation of further rate hikes, capital is flowing into late cycle stocks. Indeed, XME is fast approaching a new 52-week high.
Electric vehicles are shaking more than just the auto industry. Melius Research's Rob Wertheimer and his team take a look at mining machinery today, after headlines about how EVs could drive demand. Earlier this week, Glencore said that Electric Vehicles may drive a 3-fold increase in cobalt, a 56% increase in nickel, and an 18% increase in copper demand by 2030.
Since China is the biggest consumer of seaborne iron ore (COMT), investors looking for clues about iron ore prices should track Chinese iron ore demand.
The volatility in the iron ore prices that characterized seaborne prices in 2017 is still continuing. While prices peaked at $95 per ton in February and hit a bottom of $53 per ton in July, they’ve been ...
Vale (VALE) has seen a significant shift of fortunes over the last few months. While only 25% of analysts had “buy” ratings on the stock at the start of 2017, currently, 54.2% of the 24 analysts covering ...
The majority of the ratings for BHP (BHP) are “buy” rating, at 56%. A total 18 analysts cover the stock currently, as per the consensus compiled by Thomson Reuters.
Barrick Gold has seen a declining trend in its correlation to gold over the past three years, while the other three miners witnessed a mixed trend in correlation.
A futures contract in commodities is an agreement to buy or sell a particular amount of a commodity at a fixed price on or before a certain date.
In October 2017, China’s iron ore imports dropped to their lowest level in more than a year to 79.5 million tons.