Which South African Miners Have the Highest Implied Volatilities?
The volatilities of Sibanye, Gold Fields, AngloGold, and Harmony were 65.6%, 70.9%, 51.6%, and 78.5%, respectively, at the end of November.
The Brexit vote in June 2016 had a significant impact on mining companies and precious metals.
The loss in gold also resulted from the increasing strength of the US dollar. As seen in the above chart, gold maintained a clear downward trend.
Call implied volatility takes into account the changes in an asset’s price due to variations in the price of its call option.
The possibility of a December interest rate hike in the United States has started to affect precious metals.
Randgold is the most correlated with gold on a YTD basis among the four stocks under review. Primero Mining is the least correlated with gold.
As of December 2, 2016, Sherwin-Williams’s one-year forward EV-to-EBITDA stood at 11.9x, while PPG’s was 10.4x.
As of December 2, 2016, 20 brokerage firms were actively tracking Sherwin-Williams (SHW) stock. About 65.0% of them have recommended a “buy” for the stock.
On November 9, 2016, Sherwin-Williams (SHW) announced the opening of its 100th Chicagoland retail store in the Bucktown neighborhood.
Sherwin-Williams (SHW) stock had a strong performance in November, closing at $268.67 and rising a whopping 9.7%.
For the week ending December 2, the average weekly natural gas prices at Henry Hub rose 12.6% to $3.4 per MMBtu—compared to $3 per MMBtu the previous week.
Last week, fertilizer affordability rose to 0.66x from 0.65x week-over-week. A ratio below one means that fertilizers are more affordable than during the base year.
Last week, the potash price movement was broadly mixed. In the US Corn Belt region, average weekly granular potash prices fell by 80 basis points.
In the week ending December 2, 2016, average MAP prices in Brazil fell by 90 basis points to $329 per metric ton from $332 per metric ton the previous week.
For the week ending December 2, DAP price movements were broadly flat to negative. DAP prices in Tampa Bay fell 1.2% to $318 per metric ton,
For the week ending December 2, the movement in urea prices was broadly negative. The negative movement likely moved with the supply-demand imbalance.
The week ending December 2 was broadly positive for agricultural fertilizer companies. The VanEck Vectors Agribusiness (MOO) rose by 79 basis points.
At 5:45 AM EST on December 5, the WTI crude oil futures contract for January 2017 delivery was trading at $52.18 per barrel—a rise of ~0.97%.
After posting moderate losses amid soft US jobs data, the US dollar opened higher on December 5. It was supported by Italy’s referendum.
On November 29, 2016, Praxair (PX) said in a press conference that it had approached Linde AG to talk about a possible merger.