48.48 0.00 (0.00%)
After hours: 4:19PM EDT
|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||47.76 - 48.52|
|52 Week Range||38.51 - 52.17|
|PE Ratio (TTM)||27.51|
|Forward Dividend & Yield||2.20 (4.44%)|
|1y Target Est||44.97|
Hugh Dive of Atlas Fund Management explains why "the next stop" for companies such as BHP Billiton and Rio Tinto is down.
In the previous article, we learned that Chinese iron ore imports remained weaker in June on higher inventories and environmental inspections.
Can Iron Ore Catch a Bid amid China’s Wobbly Growth Outlook? China consumes more than 70% of seaborne-traded iron ore. It’s therefore imperative for iron ore investors to track the country’s demand and outlook to gauge iron ore’s outlook.
Southern Copper (SCCO) is poised well on expansion projects and solid outlook for metal prices. However, lower production and higher debt remain concerns.
Lately, iron ore’s price action has been erratic at best. According to Metal Bulletin, benchmark iron ore is currently trading close to $64 per ton.
It’s been hard to be a shareholder in copper and gold stock Freeport-McMoRan (NYSE:FCX) over the last few years. The latest battle and subsequent bruising to its share price stem from issues with the Indonesian government at its largest mine — and there is finally some closure on that front. It’s even worse as it comes at a time when copper prices are starting to drop hard.
Iron ore output at the world's biggest miner rose to 72 million tonnes during the three months through June, compared with 70 million tonnes a year ago. BHP set a fiscal 2019 production target of 273-283 million tonnes. "We have delivered a strong finish to the 2018 financial year with an 8 per cent increase in annual production and record output at Western Australia Iron Ore, Queensland Coal and at our Spence copper mine in Chile," BHP Chief Executive Andrew Mackenzie said.
Ltd. (BHP.AU) said it produced 3% more iron ore last fiscal year, as its Australian mining operations churned out the commodity at record rates, while the company’s output of copper jumped and petroleum fell. The world’s biggest miner by market value on Wednesday reported iron-ore production totaling 238 million metric tons in the year through June. The company said its Australian operations hit a record annualized output rate during its fiscal fourth-quarter of 289 million tons, including the share of joint venture partners.
San Antonio-based oil company Castlerock Exploration LLC is targeting the Eagle Ford Shale for its first oil well.
It’s the mining world’s biggest dilemma: everyone’s hunting for copper deals, but even the richest producers just can’t pull the trigger. The industry has deep pockets for deals right now -- Rio Tinto Group may end the year having raised $8.5 billion from asset sales and rivals like BHP Billiton Ltd. and Glencore Plc are churning out massive profits.
Freeport's (FCX) latest move highlights a significant milestone toward establishing a new partnership with Republic of Indonesia for long-term stability of PT Freeport Indonesia's operations.
WallStEquities.com evaluates BHP Billiton Ltd (NYSE: BHP), Cameco Corp. (NYSE: CCJ), Cleveland-Cliffs Inc. (NYSE: CLF), and Cloud Peak Energy Inc. (NYSE: CLD). Last Friday, Melbourne, Australia headquartered BHP Billiton Ltd's stock declined 1.07%, to close the day at $49.12.
Barrick's (ABX) Q2 gold production figures are roughly in line with Q1 while AISC is expected to increase 5-7%. Also, the company lowers 2018 copper production view.
For eight years, Stern Hu rose every morning at 6 a.m. in Qingpu Prison near Shanghai. Everyone in Brigade No. 8, the foreign prisoners unit, knew Hu. Chinese-born, with an Australian passport and a shock of white hair, he’d been a star at Rio Tinto Group, one of the world’s largest mining companies, before being sent to prison in 2010 for stealing trade secrets and taking bribes.
BHP Billiton Plc (BLT.L) (BHP.AX) handed in a proposal for a new labour contract to the union at its Escondida copper mine in Chile that includes a salary readjustment linked to inflation and a $23,000 (17,432.17 pounds) bonus per worker, the company said on Wednesday. "We hope our workers value the effort the company is making to deliver this offer, which is sustainable," said Patricio Vilaplana, vice president of corporate affairs at Escondida. Labour talks at Escondida are in the final stretch before a 30-month contract expires at the end of July.
Valmont's (VMI) latest move will result in an after-tax charge in the company's third-quarter earnings of around $11 million or 49 cents.
In order to compete with other majors, BP (BP) is attempting to expand footprint in the Permian via efforts to acquire BHP Billiton's U.S. assets.
BP Plc has emerged as the front-runner to buy BHP Billiton Ltd.’s onshore oil and gas operations in the U.S., according to a person familiar with the matter. The London-based oil major has made the highest offer for the assets, which BHP prefers selling in a single package, said the person, who asked to not be identified because the matter isn’t public. The Australian mining conglomerate, based in Melbourne, received initial offers about two months ago from BP, Chevron Corp. and Royal Dutch Shell Plc, among others, people familiar with the matter said in June.
The move represents a big bet by BP on U.S. oil and gas production at a time when energy prices are rebounding. It would allow it to significantly rebalance its business with oil production, after focusing largely on natural gas assets. BHP said in August it aimed to sell onshore shale assets in the Eagle Ford, Permian, Haynesville and Fayetteville basins, which it acquired at the height of the oil boom.