As of October 10, analysts expect PPG Industries (PPG) to post revenues of $3.75 billion in 3Q17, which would be a decline of 1.1% over the previous year.
In this series, we’ll discuss PPG’s stock performance so far in 2017. We’ll also look at the analysts’ revenue and EPS (earnings per share) estimates for 3Q17.
When considering mining stocks, investors should consider crucial indicators like RSI (relative strength index) levels and call implied volatility.
CDE, ABX, and HL have a YTD gain of 4.8%, 4.5%, and 2.3%, respectively. However, EGO has a YTD loss of 27%.
On a YTD basis, First Majestic has the lowest correlation to gold, while Primero Mining has the highest correlation to gold.
AngloGold Ashanti (AU) saw its last recommendation change in May 2017, when CIBC downgraded the stock to a “sector perform” rating.
After a stupendous 2016, the South African gold miners (GDX) have had a disappointing run so far in 2017. As a group, they’ve lost 10.8% YTD.
After the Guatemalan government’s decision to suspend Tahoe Resources’ (TAHO) license, the company saw several downgrades.
The performances of precious metal miners with substantial exposure to silver have been disappointing in 2017. As a group, they’ve returned just 0.9% YTD.
Credit Suisse (CS) downgraded Franco-Nevada (FNV) from “outperform”’ to “neutral” on September 25, 2017.
As of October 6, 2017, this group has returned 30.1% on average—significantly higher than GDX’s 12.1% and GLD’s 10.3%.
On July 24, 2017, National Bank Financial upgraded Agnico Eagle Mines (AEM) from “sector perform” to an “outperform” rating.
The stock performances of intermediate gold miners (RING) (GDXJ) have been slightly better than senior gold miners, on average.
Along with analyst ratings, it’s important to look at the recent changes to recommendations and target prices.
As a group, the average gains of North American senior gold miners (GDX) (RING) have been muted.
The year-to-date stock performances of precious metal miners have been driven more by company-specific factors than by the direction of gold prices.
As of October 10, 2017, Celanese (CE) traded at a one-year forward price-to-earnings multiple of 13.60x.
Since July 2017, analysts’ consensus target price on Celanese has been on an upward trend, moving from $100.24 to the present $105.18.
As of October 9, 2017, analysts are expecting Celanese (CE) to post adjusted earnings per share of $1.93 in 3Q17, an increase of 15.6% on a year-over-year basis.
CE’s expected revenue growth in 3Q17 will be majorly driven by acquisitions.