Mining Shares: RSI Numbers and Implied Volatility
As of October 19, Sibanye Gold, Agnico Eagle Mines, Silver Wheaton, and Randgold Resources had implied volatility readings of 63%, 33.6%, 30.8%, and 25%.
Most of the mining shares saw a downside move in the price on October 19, 2017, but gold and silver had an up day.
Understanding mining stocks’ correlation with gold is crucial for investors in precious metal mining stocks.
On October 16, 2017, Celanese (CE) announced it will expand its capacities related to compounding due to continued demand in its engineered materials business.
On October 18, 2017, International Flavors & Fragrances (IFF) launched its Re-Imagine program, which aims to tap opportunities in the food and beverage market.
On October 16, 2017, 3M (MMM) announced that it has launched its 5410 Diamond Mesh Trim under Scotchlite.
On October 16, 2017, Axalta Coating Systems (AXTA) added Tufcote Hydro 2.1 HG and Tufcote Hydro LV HG waterborne acrylic products to expand its Tufcote portfolio.
On October 17, 2017, Praxair (PX) announced that it has entered into a long-term agreement with GlobalFoundries in Malta, New York.
Teck Resources (TECK) is scheduled to release its 3Q17 earnings on October 26.
Two of the leading Canadian miners (EWC) are scheduled to release their 3Q17 earnings this week.
The 3Q17 earnings season is now in full swing. This week especially looks quite busy with a flurry of earnings releases.
Last week copper prices broke free of yet another psychological price level.
Copper prices have been strong in October. In the week ending October 20, LME (London Metals Exchange) three-month copper contracts rose 2.2%.
The firm dollar weighs on the prices of dollar-denominated commodities like copper, gold, and silver. Platinum and palladium are weak in the early hours.
PPG Industries’ (PPG) Industrial Coatings segment represented 39.40% of PPG Industries’ total revenue in 3Q17—compared to 39.30% in 3Q16.
The Performance Coatings segment contributes a bigger share of PPG Industries’ overall revenue. In 3Q17, the segment contributed 60.60%.
PPG Industries (PPG) reported an adjusted EPS (earnings per share) of $1.52, which includes the unfavorable impact of natural disasters up to $0.05.
PPG Industries announced its 3Q17 earnings on October 19 before the markets opened. It reported revenue of $3.77 billion—an increase of 3.0% on a YoY basis.
At 7:20 AM EST on October 20, the WTI crude oil futures contracts for November 2017 delivery were trading at $50.81 per barrel—a fall of ~0.94%.
In 3Q17, analysts estimate CF Industries’ (CF) earnings will fall year-over-year, and this trend is expected to continue well into the next four quarters.