RECENT Basic Materials RESEARCH
Albemarle (ALB) stock is continuing its upward journey after a small setback following its 2Q17 earnings release.
Despite Freeport’s announcement of a resolution to its long-term Grasberg dispute with the Indonesian government, its stock fell on August 29.
Westlake Chemical will pay a dividend of $0.21 per share on September 18, 2017. It’s Westlake Chemical’s 52nd dividend payment without any interruption.
After rising by ~270% in 2016, Coeur Mining (CDE) has lost ~15% of its value YTD (year-to-date) as of August 21, 2017.
Copper was in a long-term bear market. Copper peaked at the beginning of 2011 when prices topped $10,000 per metric ton.
On August 24, 2017, Axalta (AXTA) introduced a new color, RAL 9006, and expanded the portfolio of Alesta AR500 powder coating.
In this series, we’ll look at the price momentum of key fertilizers such as urea, diammonium phosphate, and muriate of potash. We’ll also look at fertilizer affordability.
Iron ore prices surged to $78.00 per ton on August 18, its highest level since April 6, 2017. The jump in spot prices followed the increase in futures prices.
On September 12, 3M will pay a dividend of ~$1.18 per share. Investors holding the stock on or before the record date of August 25, 2017, are eligible.
BHP Billiton (BHP) released its fiscal 2017 results on August 21, 2017. Despite posting a fivefold increase in underlying profits, it missed analysts’ estimate.
Leading US aluminum producer Alcoa (AA) closed at $38.47 on August 21. It’s been a decent year for Alcoa, and the stock has gained 37.4% so far.
It’s time to revisit analysts’ rating changes and updates for agribusiness stocks that serve the agricultural fertilizer, seeds, and crop protection products.
On August 14, 2017, Axalta (AXTA) announced that it acquired Plascoat Systems Limited—its fourth acquisition in seven months.
Gold prices have risen 11.4% year-to-date until August 14 after gaining 8.5% in 2016. While the gold price trend has been volatile in 2017, recent geopolitical tensions and a weaker US dollar have supported gold prices.
International Flavors and Fragrances (IFF) will pay a quarterly dividend of $0.69 per share on October 6, 2017.
Freeport-McMoRan (FCX) closed at $14.77 on August 16, gaining 5.7% from its previous close. The stock has been consolidating over the last few trading sessions.
Overall, fertilizer companies saw lackluster earnings in 2Q17, much of which came from the ongoing weakness in fertilizer prices.
After rising impressively in August, gold prices have taken a breather. Tensions between the US and North Korea, weaker-than-expected US economic data, and a weaker dollar helped gold prices in the second week of August.
On August 11, 2017, Axalta (AXTA) introduced its waterborne refinish coating brand, Syrox, in China.
IAMGOLD Corporation (IAG) reported its 2Q17 results after the market closed on August 9. The conference call to discuss the results with analysts took place the next day.