BHP Billiton PLC

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  • uploads///China inventory
    Macroeconomic Analysis

    What Does the Rise of Iron Ore Port Inventories Mean for Miners?

    Players involved in the seaborne iron ore trade include BHP Billiton (BHP) (BBL), Rio Tinto (RIO), Vale (VALE), and Cliffs Natural Resources (CLF).

    By Anuradha Garg
  • uploads///Iron ore shipments
    Macroeconomic Analysis

    Seaborne Iron Ore Trade Not Enough to Save Dry Bulk Companies

    Dry bulk shipping companies transport iron ore more than any other commodity. So it’s important for investors to watch shipments from the world’s largest iron ore exporters.

    By Anuradha Garg
  • uploads///Iron ore supply
    Macroeconomic Analysis

    Roy Hill Has the Potential to Push Iron Ore Prices Further Down

    Australia’s billionaire Gina Rinehart’s $10 billion Roy Hill iron ore project expects to start shipping iron ore to world markets starting in October 2015.

    By Anuradha Garg
  • uploads///Companies performance
    Macroeconomic Analysis

    Why the Outlook on Iron Ore Is Still Negative

    Major iron ore producers are further reducing costs to weather the current market downturn.

    By Anuradha Garg
  • uploads///lme copper
    Macroeconomic Analysis

    London Metal Exchange Copper Inventory Steady in April

    London Metal Exchange copper inventory was steady in April, but it’s up more than 65% since the start of the year. Copper’s supply continues to be more than its demand.

    By Mohit Oberoi, CFA
  • uploads///Analysts estimates
    Company & Industry Overviews

    What Are Analysts Recommending for Cliffs Natural Resources?

    Of the analysts covering Cliffs, one analyst has a “buy” recommendation, eight have “hold” recommendations, and six have “sell” recommendations.

    By Anuradha Garg
  • uploads///Iron ore price performance
    Company & Industry Overviews

    Why Have Iron Ore Equities Had a Bad Run in Past Month?

    Iron ore prices have had a very bad run since mid-October. Prices have fallen by 14%, taking the total fall in iron ore prices to date to over 30%.

    By Anuradha Garg
  • uploads///Progressive dividends
    Earnings Report

    Can BHP Maintain Its Dividends in 2016?

    BHP Billiton is facing pressure in all the commodity businesses it’s involved in. At spot prices, free cash flow doesn’t cover the company’s dividends.

    By Anuradha Garg
  • uploads///China iron ore imports
    Macroeconomic Analysis

    Why China’s Iron Ore Imports Slid in August

    China’s iron ore imports contracted 14% month-over-month and 1% year-over-year (or YoY) in the month of August to 74.12 million tons.

    By Anuradha Garg
  • uploads///Debt maturity schedule
    Earnings Report

    Why Are Investors Still Worried about Cliffs’ Debt Profile?

    During 3Q15, Cliffs purchased its outstanding debt and completed a cash tender offer for the significant portion of its senior notes due in 2018.

    By Anuradha Garg
  • uploads///Analysts estimates
    Earnings Report

    Cliffs Natural Resources: What Are Analysts Expecting?

    Approximately 7% of analysts tracking Cliffs Natural Resources (CLF) rate it a “buy” or some equivalent. Approximately 53% rate the company a “hold” or an equivalent…

    By Anuradha Garg
  • uploads///Iron ore companies performance
    Earnings Report

    Cliffs Natural Resources: Outlook on the Seaborne Iron Ore Market

    According to Cliffs Natural Resources’ Lourenco Goncalves, the situation in the seaborne iron ore market is the making of big Australian iron ore miners.

    By Anuradha Garg
  • uploads///
    Macroeconomic Analysis

    Why Did the Pound Fall as Core Inflation Slowed Down?

    The pound had a volatile day on February 16, 2016. It rose to a high of 1.4518 ahead of the inflation data. After the data released, it fell to a low of 1.4276.

    By David Meyer
  • uploads///AdobeStock_
    Basic Materials

    Brent crude oil moves nitrogenous fertilizer prices

    Brent crude oil price is a leading indicator for nitrogenous fertilizer revenues. When the price of Brent oil rises, it’s generally followed by a rise in ammonia prices.

    By Xun Yao Chen
  • uploads///Analyst Reco
    Company & Industry Overviews

    Are Analysts Turning Optimistic on Vale SA?

    Among the analysts that track Vale SA (VALE), 16.0% have given the company a “buy” recommendation, and 16.0% have given it a “sell” recommendation.

    By Anuradha Garg
  • uploads///Auto sales
    Basic Materials

    Why China’s Auto Sales May Lose Momentum in 2017

    Because 98% of mined iron ore goes into steelmaking, the demand for iron ore is related to China’s auto sector performance.

    By Anuradha Garg
  • uploads///Part
    Earnings Report

    Key Highlights of Cliffs Natural Resources’ 4Q15 Results

    Cliffs Natural Resources (CLF) reported revenues of $476 million for 4Q15, a decline of 54% YoY. The revenues for 2015 also dropped 40% YoY to $2 billion.

    By Anuradha Garg
  • uploads///Factors imapcting prices
    Macroeconomic Analysis

    Factors Impacting Iron Ore’s Performance in 2016

    China’s (MCHI) economic slowdown is the biggest challenge for global metal and mining companies, which is why iron ore investors should keep a close eye on the Chinese economy.

    By Anuradha Garg
  • uploads///Copper
    Earnings Report

    Why Are BHP’s Copper Volumes Falling?

    Lowering costs is vital in price environments wherein copper prices are hitting multiyear lows, and copper volumes are key for copper segment revenues.

    By Anuradha Garg
  • uploads///Petroleum Capex
    Earnings Report

    BHP’s US Onshore Takes Another Hit—Is There More to Come?

    BHP announced an impairment charge of $4.9 billion post-tax on its US Onshore business. After this, the carrying value of the business will be ~$16 billion.

    By Anuradha Garg
  • uploads///Petroleum
    Earnings Report

    Analyzing BHP’s Expectations from Petroleum in Fiscal 2016

    BHP’s petroleum production fell by 5% YoY (year-over-year) to 124.7 MMboe (million barrels of oil equivalent) in fiscal 1H16.

    By Anuradha Garg
  • uploads///Coal
    Earnings Report

    Assessing BHP’s Coal Volumes Target in 1H16

    BHP Billiton’s coal business is the world’s largest supplier of seaborne metallurgical coal. Metallurgical coal is a key input in steel production.

    By Anuradha Garg
  • uploads///Iron ore
    Earnings Report

    Could BHP Fall below Its Fiscal 2016 Iron Ore Guidance?

    Big iron ore companies maintain a strategy of increasing volumes in order to reduce the pressure on revenues, cash flows, and ultimately the bottom line.

    By Anuradha Garg
  • uploads///Intro
    Earnings Report

    BHP’s December Production Results Were Mixed

    BHP Billiton (BHP) (BBL) reported mixed production results for the second quarter of its fiscal 2016 on January 20, 2016. Its fiscal year ends on June 30.

    By Anuradha Garg
  • uploads///Iron ore companies
    Macroeconomic Analysis

    Will the Iron Ore Carnage Continue in 2016?

    The benchmark seaborne iron ore prices touched a low of $37 on December 11, 2015. This is below the breakeven for many small iron ore producers.

    By Anuradha Garg
  • uploads///
    Macroeconomic Analysis

    Pound Fell to a 7-Year Low despite Strong Inflation Data

    The pound-US dollar currency pair has been on a downtrend since the beginning of the year. It fell by 0.46% on January 16, 2016.

    By David Meyer
  • uploads///GBP Jan
    Macroeconomic Analysis

    British Pound Fell despite the Rise in Construction Activity

    The British pound fell on January 5, 2016. It came close to an eight-month low against the US dollar even though the construction activity sector rebounded in December.

    By David Meyer
  • uploads///China steel production
    Company & Industry Overviews

    Is RIO Well Positioned for the Economic Transition in China?

    Rio Tinto’s (RIO) CEO Sam Walsh seems optimistic about China’s growth. He says China’s urbanization, government efforts, and infrastructure investment should continue to push it in the right direction.

    By Anuradha Garg
  • uploads///Cash flow Capex distribution
    Company & Industry Overviews

    BHP’s Free Cash Flow Could Fall Short of Covering Its Dividends

    BHP has a capital expenditure (or capex) guidance of $8.3 billion for fiscal 2016 and $7 billion for fiscal 2017.

    By Anuradha Garg
  • uploads///Analysts Reco
    Company & Industry Overviews

    What Are Analysts’ Recommendations for BHP Billiton?

    Among analysts, BHP Billiton (BHP) (BBL) has 43% “buy” recommendations and 9% “sell” recommendations.

    By Anuradha Garg
  • uploads///Petroleum
    Company & Industry Overviews

    Will BHP’s Petroleum Division Need to Take on More Impairments?

    For BHP Billiton, its petroleum division remains one of the most challenging businesses to operate in the current commodity price environment.

    By Anuradha Garg
  • uploads///Copper_
    Company & Industry Overviews

    Can BHP Billiton Shift to a Cash Generation Phase in Copper Soon?

    Copper is one of the four key pillars for BHP Billiton. It contributes to 23% of group production and 24% of underlying earnings before interest and tax.

    By Anuradha Garg
  • uploads///Cost improvements
    Company & Industry Overviews

    What Is Anglo American’s Strategy on Operational Discipline?

    Anglo American embarked on operational discipline improvements starting in 2013. It will focus on achieving $2.1 billion in improvements in 2016 and 2017.

    By Anuradha Garg
  • uploads///Production
    Company & Industry Overviews

    What Led Anglo American to Lower Production Guidance?

    Anglo American has reduced its production guidance for 2016 from 24–26 million tons to 18–21 million tons.

    By Anuradha Garg
  • uploads///Portfolio optimization
    Company & Industry Overviews

    Anglo American Shifts Its Focus to “Priority 1” Assets

    Anglo American has announced a transformation in its assets. Its focus will now be on “Priority 1” assets, which can deliver cash flow through the cycle.

    By Anuradha Garg
  • uploads///Iron ore prices YTD
    Company & Industry Overviews

    Vale Lowers Guidance in the Wake of the Samarco Accident

    At Vale Day on December 1, 2015, Vale lowered its iron ore production guidance due to a weak demand outlook and the fallout from the November 5 Samarco accident in Brazil in which two dams collapsed.

    By Anuradha Garg
  • uploads///Supply expansion
    Macroeconomic Analysis

    Could the Recent Supply Disruptions Help Iron Ore Prices?

    The output from Samarco contributes ~2% of the global seaborne iron ore market. The impact of the production loss from this operation should not be enough to move the needle up on iron ore prices.

    By Anuradha Garg
  • uploads///Production reports
    Macroeconomic Analysis

    Iron Ore Companies’ Production Continues Unabated Growth

    The weak demand from China is hurting iron ore prices. The supply side, on the other hand, remains quite strong.

    By Anuradha Garg
  • uploads///APIO revenue
    Earnings Report

    How Cliffs’ Asia-Pacific Iron Ore Division Drove Down Costs

    Cliffs Natural Resources has significantly reduced the cash production costs at its Asia-Pacific iron ore (or APIO) division.

    By Anuradha Garg
  • uploads///Cliffs summary
    Earnings Report

    Key Highlights of Cliffs Natural Resources’ 3Q15 Results

    Cliffs Natural Resources (CLF) reported revenues of $593 million for 3Q15, a decline of 39% YoY. A decline in revenues impacted the company’s EBITDA negatively.

    By Anuradha Garg
  • uploads///Iron ore
    Earnings Report

    Rio Tinto’s Iron Ore Volumes Continue to Deliver in 3Q15

    Iron ore volumes are key to Rio Tinto’s (RIO) iron ore segment revenue. The other factor, seaborne iron ore prices, is determined by demand and supply dynamics.

    By Anuradha Garg
  • uploads///Performance YTD
    Earnings Report

    Rio Tinto Delivers a Strong Set of Production Numbers for 3Q15

    Rio Tinto (RIO) reported a solid set of production numbers for the third quarter of 2015 on October 15.

    By Anuradha Garg
  • uploads///CFR cash costs
    Macroeconomic Analysis

    How Are Iron Ore Miners Placed on the Cost Curve?

    As there is still more low-cost supply ready to come online, the biggest such project being Vale’s low-cost S11D, there is a risk of some big iron ore miner becoming a marginal producer going forward.

    By Anuradha Garg
  • uploads///Production growth from majors
    Macroeconomic Analysis

    Production Growth from Major Iron Ore Miners Continues Unabated

    When Vale’s S11D project comes online, it could be a further game changer in the iron ore market. Its cash costs per ton are pegged at close to $11 per ton.

    By Anuradha Garg
  • uploads///Iron ore performance
    Macroeconomic Analysis

    What is Driving the Iron Ore Miners’ Stock Price Performance?

    Iron ore prices fell 49% in 2014, which was reflected in the share price performance of major miners. In this series, we’ll discuss the position of various iron ore players on the cost curve relative to iron ore prices.

    By Anuradha Garg
  • uploads///aa cr
    Earnings Report

    Analyzing Alcoa’s Performance Compared to Its Peers

    The peers outperformed Alcoa based on the net profit margin, EPS, and PBV ratio. However, Alcoa is way ahead of its peers based on the current ratio.

    By Gabriel Kane
  • uploads///aa pm
    Earnings Report

    Alcoa Reported a Fall in Income Quarter-over-Quarter

    Alcoa (AA) has a market cap of $14.42 billion. Its YTD (year-to-date) price movement is falling day by day. Alcoa’s income has fallen every quarter.

    By Gabriel Kane
  • uploads///GBP
    Macroeconomic Analysis

    Pound Gains Strength on Positive PMI Numbers

    The pound gained strength against the US dollar on October 2, 2015. The uptick came with the announcement of strong construction PMI numbers.

    By David Meyer
  • uploads///Aggregate financing
    Macroeconomic Analysis

    China’s Credit Growth Metrics Expanded in August

    By tracking credit growth in China (MCHI), investors can gauge patterns that forecast future demand.

    By Anuradha Garg
  • uploads///Iron ore exports
    Macroeconomic Analysis

    Iron Ore Shipments Remain Strong for August

    Iron ore shipments through Port Hedland reached an all-time high of 39.2 million tons in August as compared to 35.3 million tons in July.

    By Anuradha Garg
  • uploads///GBP Sep
    Macroeconomic Analysis

    British Pound Rallies on UK Employment Report

    The British pound–US Dollar pair traded with a positive bias on the back of strong labor numbers. It posted a high of 1.5529, ending at 1.5493 on September 16—still a 0.98% increase from its opening level.

    By David Meyer
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