Monsanto (MON) declared a quarterly dividend on its common stock of 54 cents per share on August 4, 2015.
Going forward, Goldcorp’s strong production profile and ramp-up of its key projects could lead to a re-rating of the stock with respect to its peers.
Goldcorp has the strongest balance sheet in its peer group. Goldcorp’s liquidity is also comfortable at $3.2 billion, including $940 million in cash and cash equivalents.
Goldcorp took several steps during 2Q15 to weather the current weaker gold price environment. The company reduced dividends by 60% to $0.02 per month.
Goldcorp reported a strong reduction in all-in sustaining costs (or AISC) for 2Q15. AISC came in at $846 per ounce, compared with $885 per ounce in 1Q15 and $852 in 2Q14.
Goldcorp reported higher sales volume owing to the Peñasquito mine and the ramp-up of its two key mines, Cerro Negro and Eleonore.
The Peñasquito mine contains gold, silver, lead, and zinc. It achieved its first commercial production in 2010, on schedule and on budget.
In 2Q15, Goldcorp achieved record gold production of 908,000 ounces. The Peñasquito mine in Mexico posted a record 298,000 ounces—33% of total gold production.
Goldcorp announced its 2Q15 results on July 30. The company’s gold production showed very strong growth at 25.3% quarter-over-quarter.
Vale (VALE) delivered a slight beat on expectations on the back of cost improvements in its 2Q15 results. The outlook for iron ore is critical to determine Vale’s position and future performance.
Vale S.A.’s (VALE) financial condition is deteriorating. Its gross debt was $29.8 billion at the end of 2Q15, increasing by $1.29 billion from its debt position on March 31, 2015.
Vale is expected to sell its entire fleet of Valemaxes and some stake in its fertilizer business. Asset sales are necessary in order for Vale cover up its cash flow gap and fund its S11D project.
Base metals were negatively impacted in 2Q15 due to concerns over Chinese commodity consumption. Nickel prices averaged $13,008 per ton in 2Q15, which is 9% lower QoQ and 30% lower YoY.
Vale expects the coal market to remain oversupplied throughout 2015 despite a production decrease from US producers. The outlook thus remains negative for Vale’s coal operations.
Vale’s (VALE) average CFR (cost and freight) realized price for iron ore fines increased by $3.30 per ton, from $58.20 per metric ton in 1Q15 to $61.50 in 2Q15.
Vale’s (VALE) iron ore production for 1H15 was a record 159.8 million tons, 9.3 million tons higher than 1H14. For 2Q15, production was the second highest on record at 85.3 million tons.
In this article, we’ll look at Vale’s (VALE) 2Q15 results and why they’re a beat on market expectations. Vale reported adjusted EPS of $0.19, which was 55% above consensus.
Vale S.A. (VALE) reported its 2Q15 results on July 30, 2015. Overall results were a beat on market expectations. However, Vale’s stock price fell 6.5% after Vale announced its results.
Cliffs’ management is doing what is under its control, including cutting costs and selling non-core assets. However, the biggest factor impacting Cliffs—iron ore prices—is not under its control.
Cliffs has reduced the unit costs substantially for its US iron ore and Asia–Pacific iron ore divisions.