|Bid||0.00 x 3100|
|Ask||0.00 x 2900|
|Day's Range||36.63 - 37.11|
|52 Week Range||27.86 - 39.62|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.35%|
Vales (VALE) stock has seen a significant shift in ratings over the last few months. Most of the recent analyst ratings, however, point to negative sentiment among analysts. This sentiment contrasts sharply to eight analyst upgrades for the stock in 2017. Analysts were positive about the company’s deleveraging policy, which has now been mostly priced into the stock.
Crude oil started this week on a stronger note by surging on Monday. However, crude oil declined in the next three trading days. Carrying forward the weakness, crude oil opened Friday on a weaker note and was trading at 15-day low price levels in the early hours.
Have President Trump’s Tariffs Failed US Steel Companies? On April 30, President Trump extended the Section 232 exemptions another month. As quoted by CNBC, the statement on the exemptions said, “The Administration is also extending negotiations with Canada, Mexico, and the European Union for a final 30 days.
Vale (VALE) considerably reduced its net debt in 2017. At the end of 2017, its net debt totaled $18.1 billion, a decline of ~28% year-over-year. The company was guiding for net debt of $15.0 billion–$17.0 billion by the end of 2017. In the latest quarter, the company recorded another reduction of $3.2 billion in net debt to reach $14.9 billion. The debt decline during the quarter was supported by the sale of its fertilizer assets to Mosaic for $3.7 billion.
Is a Valuation Rerating in the Cards for Vale Stock? The EBITDA for the ferrous division was almost in line with the previous quarter despite seasonally lower volumes, mainly due to higher premiums and the net effect of the 13% increase in the benchmark iron ore index. Vale’s free-on-board (or FOB) cost per ton for iron ore fines was $14.8 per ton in the first quarter, in line with 4Q17.
According to the May FOMC meeting minutes, members are of the view that the US economy is continuing to grow at a moderate pace. The trend of improving economic conditions in the inter-meeting period continued at the May meeting, with FOMC members acknowledging strength in the employment market, increased household spending, and improved business investment.
Although aluminum and alumina have retreated from their 2018 highs after President Donald Trump softened the RUSAL sanctions, global aluminum and alumina markets are expected to be in a deficit by some observers, including companies such as Alcoa. Alumina prices are also being supported by the partial shutdown of Norsk Hydro’s (NHYDY) Alunorte refinery. Aluminum prices might also take support from higher alumina prices (XME).
Crude oil started this week on a stronger note and declined lower as the week progressed. On May 24, crude oil opened the day on a weaker note. Crude oil was trading at one-week low price levels in the early hours.
Alcoa (AA) is having a dismal run in 2018. The stock is trading at a YTD (year-to-date) fall of 9.8% based on its May 23 closing price.
Crude oil started this week on a stronger note by rising to 3.5-year high levels on Monday but lost strength as the week progressed. After a pullback on Tuesday, crude oil started May 23 on a weaker note and traded with weakness in the early hours. Supply fears amid geopolitical tensions supported crude oil prices at the beginning of the week.
U.S. Steel (X) is having a dismal run this year. The stock is trading roughly flat for the year based on May 21 closing prices. The picture also looks scary for AK Steel (AKS), which has seen a negative price action of 21.2% so far in the year. Nucor (NUE) and Steel Dynamics (STLD) are trading with year-to-date gains of 3.2% and 17.5%, respectively. The SPDR S&P Metals and Mining ETF (XME) has gained 3.5% so far in 2018.
US steel stocks (XME) U.S. Steel Corporation (X) and AK Steel (AKS) are trading sharply higher today. Nucor (NUE) and Steel Dynamics (STLD) are also in the green. We saw a selling spree in US steel stocks yesterday as markets feared that China could also be exempt from the Section 232 steel tariffs.
The first-quarter earnings season for US steel investors is largely over. Steel companies, including U.S. Steel Corporation (X), AK Steel (AKS), and Nucor (NUE), have released their first-quarter earnings results. U.S. Steel saw a selling spree after its earnings release, as its 2018 guidance and outlook didn’t go over well with the market.
After gaining for three consecutive trading weeks, crude oil started this week on a stronger note by surging to 3.5-year high price levels. Carrying forward the strength, crude oil opened higher on May 22 and consolidated at elevated levels in the early hours.
Crude oil consolidated at elevated levels last week and recorded the third consecutive weekly gain. On Monday, crude oil opened higher and was trading at elevated levels in the early hours.
The Federal Reserve released the April industrial production report on May 16. Tracking changes to the industrial production index helps us assess future changes to the business cycle. Industrial production continued to increase in the last few months except for a slump in January, which was a known seasonality.
After gaining for two weeks, crude oil started this week on a stronger note and gained in all of the trading days so far this week. Crude oil closed Thursday almost flat and opened higher on Friday. In the early hours on May 18, crude oil is consolidating at the highest levels traded since November 2011.
Crude oil started this week on a stronger note and gained in the first three trading days of the week. Carrying forward the strength, crude oil opened stronger on Thursday and traded with strength at the highest levels traded since November 2011 in the early hours.
Crude oil started this week on a stable note by gaining on Monday but pulled back briefly on Tuesday. Crude oil opened May 16 on a stable note and traded with mixed sentiment in the early hours.
In this article, we’ll look at the 2Q18 earnings guidances provided by leading steel companies during their 1Q18 earnings calls.
We’re now reaching the end of the 1Q18 earnings season, and most mining companies have already released their quarterly earnings results. Some companies including Antofagasta (ANTO) and Glencore (GLNCY) have released only their quarterly production reports in 1Q18, and not metrics like revenue and EBITDA, which they only release twice a year.
After gaining for two consecutive trading weeks, crude oil moved higher on Monday and started the week on a stronger note. Carrying forward the strength, crude oil opened stronger on Tuesday and trading with strength at 3.5-year high levels in the early hours.
AK Steel (AKS) is the only steel company among those under our review to have reported a yearly fall in its 1Q18 steel shipments. In this article, we’ll see what different steel companies have guided for their 2Q18 steel shipments.
After a strong performance last week, crude oil started this week on a positive note and moved higher as the week progressed. On Wednesday, crude oil surged to the highest levels traded since November 2014 and started Thursday on a stable note. In the early hours on May 10, crude oil traded with mixed sentiment at elevated levels.
During the company’s 1Q18 earnings call, David Burritt, U.S. Steel Corporation’s (X) CEO, talked about “long-term returns” for shareholders. He said, “Those with a short-term perspective will judge us by how we manage in the near-term challenges, but those who have truly invested in our company and share our long-term perspective will judge us by how we develop and optimize our opportunities. We are in this business for the long term and are developing differentiated capabilities to serve customers and benefit not only them but also our employees and investors through the business cycle.”