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Steve Ariel

Disclosure: I am in full compliance with all ethics and other policies for Market Realist research analysts. I am not invested in securities that I cover on Market Realist.

More From Steve Ariel

  • uploads///Goldcorp_AISC_New
    Company & Industry Overviews

    Will Goldcorp’s All-In Sustaining Costs Be Higher than Peers’?

    Goldcorp continued with its lower cost trend, as the key cost metric AISC (all-in sustaining costs) fell 21% YoY and remained almost flat QoQ in 3Q15.

    By Steve Ariel
  • uploads///AISC_Xun_
    Company & Industry Overviews

    Which Intermediate Gold Miners Have Cost Advantages in 2H15?

    All-in sustaining costs make up a comprehensive and important cost metric for gold mining companies. A lower AISC is better for gold miners.

    By Steve Ariel
  • uploads///Leverage_Xun
    Company & Industry Overviews

    Weighing the Affects of Financial Leverage on Gold Miners in 2015

    Because gold mining is a capital-intensive industry, gold miners raise debt to fund their capital expenditures—a risky funding source, given interest.

    By Steve Ariel
  • uploads///Q Production_Xun
    Company & Industry Overviews

    Evaluating Gold Production for Intermediate Gold Miners in 2Q15

    Gold production is an important metric for gold miners, because miners generally try to increase gold production in order to reduce costs amid low prices.

    By Steve Ariel
  • uploads///Goldcorp_Liquidity
    Company & Industry Overviews

    Will Goldcorp’s Liquidity Continue to Increase in 2016?

    Goldcorp (GG) has significantly improved its liquidity YoY (year-over-year) from $1.9 billion in 3Q14 to $3.3 billion in 3Q15.

    By Steve Ariel
  • uploads///Goldcorp_Share Performance
    Company & Industry Overviews

    Goldcorp Underperformed GDX: Why?

    Goldcorp (GG), a Canada-based gold producer, underperformed the VanEck Vectors Gold Miners Index ETF (GDX) year-to-date.

    By Steve Ariel
  • uploads///FCF Yearly
    Company & Industry Overviews

    Assessing Free Cash Flows of Intermediate Gold Miners in 2015

    FCF is important in that it is used for debt repayment, capital expenditures, and dividends or buybacks. FCF is directly related to gold industry prospects.

    By Steve Ariel
  • uploads///Part _LYB_Global Ranking_ver
    Company & Industry Overviews

    What Are LyondellBasell’s Global Rankings?

    LyondellBasell (LYB) is the leading global producer of olefins and polyolefins.

    By Steve Ariel
  • uploads///Analysts_Xun
    Company & Industry Overviews

    Interpreting Analyst Recommendations for Intermediate Gold Miners in 2015

    Tahoe Resources appears to be a favorite in gold among analysts because it had the highest percentage of “buy” recommendations at a whopping 86%.

    By Steve Ariel
  • uploads///Net debt to ebitda_xun_new
    Company & Industry Overviews

    Net Debt-to-EBITDA Expectations for Intermediate Gold Miners in 2015

    In 2015, the average net debt-to-EBITDA ratio of the six intermediate gold miners we’ve been evaluating in this series is 0.9x—a similar level to 2014.

    By Steve Ariel
  • uploads///segment ebitda vale
    Company & Industry Overviews

    An Overview of Gold Miner Performance in 2015

    Gold miners’ stocks have underperformed most of the market indices and gold itself. GDX has significantly underperformed GLD since 2008.

    By Steve Ariel
  • uploads///Current Ratio_Xun
    Company & Industry Overviews

    Weighing Liquidity against Leverage for Intermediate Gold Miners

    Eldorado is the best-placed mining company in terms of short-term liquidity, whereas Sibanye Gold’s current ratio is the poorest-placed, as it is very low.

    By Steve Ariel
  • uploads///PX_
    Company & Industry Overviews

    Peer Group Comparison: How Has Praxair’s Stock Performed?

    Year-to-date, Praxair’s (PX) stock has fallen drastically, by 18%, while the Materials Select Sector SPDR ETF (XLB) has risen by 7% since January 2, 2015.

    By Steve Ariel
  • uploads///PX_
    Company & Industry Overviews

    Does Praxair Have a Sustainable Debt Maturity Profile?

    Praxair’s total debt has increased significantly, rising from $6.6 billion in 2011 to $9.3 billion in 2014.

    By Steve Ariel
  • uploads///MON SYT_
    Miscellaneous

    How Will Monsanto Improve Its Product Mix and Cost Structure?

    Monsanto is a large agricultural seed player, with a total global market share of 26% in the global seed industry. It generated 68% of sales from seeds.

    By Steve Ariel
  • uploads///PX_
    Company & Industry Overviews

    What Is Praxair’s Major Revenue Growth Driver?

    Praxair (PX) had a backlog of 24 large projects worth a total of $1.9 billion in 2014, and it currently has the total backlog of $1.6 billion.

    By Steve Ariel
  • uploads///MON SYT_
    Miscellaneous

    Why Has the Chemical Industry Started to Consolidate?

    Recently, the global chemical industry has witnessed a few M&A deals and started consolidating as the big chemical players were involved in the deals.

    By Steve Ariel
  • uploads///MON SYT_
    Miscellaneous

    Will Monsanto Have a Healthy Balance Sheet after the Acquisition?

    If Monsanto goes for a 50:50 cash and stock deal, it will have to raise around $20 billion. As a result, its net debt-to-EBITDA ratio would rise to 4.0x.

    By Steve Ariel
  • uploads///MON SYT_
    Miscellaneous

    Introducting the Mega Deal between Monsanto and Syngenta

    Recently, Syngenta AG, the world’s largest pesticide company, started talking about deals with global agrochemical players such as Monsanto and ChemsChina.

    By Steve Ariel
  • uploads///PX_
    Company & Industry Overviews

    A Look at Praxair’s Industrial Gases Segment in South America

    Praxair’s South America business operations are operated through its subsidiary, White Martins.

    By Steve Ariel
  • uploads///PX_
    Company & Industry Overviews

    Praxair’s Distribution Network of Industrial Gases in Europe

    Praxair’s Europe segment has industrial gases operations in Spain, Italy, Germany, Russia, the United Kingdom, Scandinavia, and the Benelux region.

    By Steve Ariel
  • uploads///PX_
    Company & Industry Overviews

    North America: Praxair’s Largest Industrial Gas Segment

    The North America segment includes Praxair’s industrial gases operations in the United States, Canada, and Mexico.

    By Steve Ariel
  • uploads///PX_
    Company & Industry Overviews

    Praxair: Largest Industrial Gas Company in North America

    Praxair (PX) is the largest industrial gas producer in North and South America.

    By Steve Ariel
  • uploads///Dow_Deal_
    Miscellaneous

    Will DowDuPont Be Financially Sound?

    DowDuPont is a financially sound company. On the basis of the financials in 2014, the merged company will have revenue of more than $80 billion.

    By Steve Ariel
  • uploads///Dow_Deal_
    Miscellaneous

    DowDuPont Will Spin Off into 3 Independent Public Companies

    After the merger, DowDuPont will spin off into three independent and public companies—agriculture, material science, and specialty products.

    By Steve Ariel
  • uploads///Dow_Deal_
    Miscellaneous

    Will the Dow Chemical and DuPont Merger Have Operational Synergy?

    With corporate changes, the combined company is expected to generate total cost savings of $3 billion over the next two years after the merger.

    By Steve Ariel
  • uploads///Part__RD
    Company & Industry Overviews

    DuPont’s Research and Development Spending Compared to Its Peers’

    DuPont is a technology and research and development driven company. It spent an average of 6% of its revenues on R&D activities during the 2011–2014 period.

    By Steve Ariel
  • uploads///Deal_Part
    Miscellaneous

    Will the Merger Have Geographical Synergy for the New Company?

    After the merger, the merged entity is expected to have a better geographical presence than its individual global presence.

    By Steve Ariel
  • uploads///Dow_Deal_
    Miscellaneous

    Analyzing the US Chemical Industry’s Biggest Merger

    Dow Chemical (DOW) and DuPont (DD) are the world’s leading chemical companies. They announced that they will merge to form the world’s largest chemical company.

    By Steve Ariel
  • uploads///Deal_Part
    Miscellaneous

    What’s the Merger Rationale for Dow Chemical and DuPont?

    After the merger, the combined company would become the world’s second-largest chemical company and the largest seed and pesticides company.

    By Steve Ariel
  • uploads///Part__Geography_
    Company & Industry Overviews

    How Is DuPont’s Geographical Sales Exposure and Global Presence?

    DuPont is a global company with operations in more than 90 countries. In 2014, the company’s North America region contributed 41% to its total revenue.

    By Steve Ariel
  • uploads///Deal_Part
    Miscellaneous

    Analyzing the Dow Chemical and DuPont Merger

    The world’s two leading chemical companies—Dow Chemical (DOW) and DuPont (DD)—are in the final stages of negotiations to merge the companies.

    By Steve Ariel
  • uploads///Part__Nutrition
    Company & Industry Overviews

    DuPont’s Leading Nutrition & Health Segment

    DuPont’s nutrition & health segment’s net sales rose at a healthy compounded annual growth rate of 13%, from $2.5 billion in 2011 to $3.5 billion in 2014.

    By Steve Ariel
  • uploads///Part _Capacity
    Company & Industry Overviews

    What Are LyondellBasell’s Major Capacity Expansion Plans?

    LyondellBasell (LYB) has been consistently investing in the low cost feedstock capacity across its major products.

    By Steve Ariel
  • uploads///Part _LYB_Geographic Exposure_ver
    Company & Industry Overviews

    How Does LyondellBasell’s Geographical Exposure Compare to Peers?

    LyondellBasell (LYB) has a presence throughout the world. However, the company generates around 50% of its revenue from the United States.

    By Steve Ariel
  • uploads///Latest_Dow_Investment Sadara_Article
    Company & Industry Overviews

    Why Are Sadara and the US Gulf Coast Projects Important for Dow?

    In 2011, Dow announced a joint venture, Sadara Chemical Company, with Saudi Arabian Oil Co.

    By Steve Ariel
  • uploads///Part _Chart
    Company & Industry Overviews

    LyondellBasell: A Leading Manufacturer of Olefins and Polyolefins

    LyondellBasell is one of the world’s leading producers of olefins and polyolefins. After Dow Chemical, LYB is the second largest company by revenue and EBITDA in the US.

    By Steve Ariel
  • uploads///Latest_Dow_Strategy_Article
    Company & Industry Overviews

    What Will Drive Dow Chemical’s Future Growth?

    The Dow Chemical Company has significantly changed its business model to improve its earnings profile and returns to shareholders.

    By Steve Ariel
  • uploads///Latest_Dow_Perf Plastic_Article
    Company & Industry Overviews

    Understanding Dow’s Largest Segment, Performance Plastics

    Dow’s Performance Plastics segment contributed 39% and 46% to Dow’s total revenue and EBITDA, respectively, in 2014.

    By Steve Ariel
  • uploads///Latest_Dow_Segment wise_Sales
    Company & Industry Overviews

    Dow: Largest Chemical Company in the United States

    The Dow Chemical Company is the largest chemical company in the United States by revenue.

    By Steve Ariel
  • uploads///Goldcorp_Debt
    Company & Industry Overviews

    Will Goldcorp Continue to Have Lower Leverage in 2016?

    Goldcorp’s leverage is expected to remain at a lower level than that of its peers.

    By Steve Ariel
  • uploads///Iron ore realized price
    Earnings Report

    Will Vale’s Realized Iron Ore Prices Take a U-Turn in 2016?

    Vale’s realized iron ore price fell by $5.50 per ton from $61.50 per metric ton in 2Q15 to $56.0 in 3Q15.

    By Steve Ariel
  • uploads///Mines Production Profile
    Company & Industry Overviews

    Goldcorp: Which Mines Are Expected to Exceed 2015 Guidance?

    Goldcorp expects its Peñasquito mine’s gold production to exceed the previously guided range of 700,000–750,000 ounces in 2015.

    By Steve Ariel
  • uploads///Goldcorp Production
    Company & Industry Overviews

    Can Goldcorp Meet Its Production Guidance for 2015?

    In 3Q15, Goldcorp (GG) posted record gold production of 922,200 ounces, a 2% growth QoQ (quarter-over-quarter) and a 42% growth YoY (year-over-year).

    By Steve Ariel
  • uploads///Vale_Cash Cost
    Earnings Report

    Will Vale Continue to Reduce Its Iron Cash Costs in 2016?

    Going forward, Vale’s further reduction in cash cost will largely depend on the depreciation of Brazilian currency.

    By Steve Ariel
  • uploads///segment ebitda vale
    Earnings Report

    Why Vale’s Profitability Was Down in 3Q15

    Vale reported EBITDA of $1.9 billion in 3Q15, which was 15% lower quarter-over-quarter and 38% lower year-over-year.

    By Steve Ariel
  • uploads///gold production
    Company & Industry Overviews

    Why Growth in Gold Production Is Important for Gold Miners

    Future gold production growth is important because the gold market is forward-looking, making future gold production a key driver of gold miners’ revenue.

    By Steve Ariel
  • uploads///EV EBITDA_Xun
    Company & Industry Overviews

    Analyzing the Valuations and Returns of Intermediate Gold Miners

    Gold mining companies appear to have better future EBITDA growth potentials, even though they are trading at lower multiples.

    By Steve Ariel
  • uploads///Financial Health_Xun
    Company & Industry Overviews

    Evaluating the Financial Strength of Major Gold Miners in 2015

    Gold miners should have enough liquidity to repay their debts. If mining companies have higher debt and less liquidity, they may face cash problem.

    By Steve Ariel
  • uploads///Gold Reserves_New
    Company & Industry Overviews

    Assessing the Importance of Gold Reserves for Future Growth

    Gold reserve growth is a key revenue driver for miners. It’s thus important for gold miners to continue replacing every ounce of gold they produce and sell.

    By Steve Ariel
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