WisdomTree Continuous Commodity Index Fund
Morgan Stanley, Citibank Doubt Longevity of Iron Ore Price Rally
Morgan Stanley is bearish on the future prospects of iron ore prices. The broker estimates that the iron ore prices will fall to $40 per ton in 2H16 and $35 per ton in 4Q16.
Rio’s Aluminum Division Didn’t Bow to Commodity Price Pressures
Rio Tinto’s (RIO) Aluminum division contributed 19% of its 1H16 underlying EBITDA (or earnings before interest, tax, depreciation, and amortization).
What’s Been Driving Cliffs Natural Resources’ Valuation
Valuations Valuation multiples are key metrics that investors consider carefully. With the help of relative valuations, we can compare a company’s valuation with its closest peers’ valuations. There are several valuation metrics that we can use. For companies in cyclical industries such as steel and mining, the EV/EBITDA (enterprise value to earnings before interest, taxes, depreciation, and amortization) […]
Century Aluminum Misses 2Q16 Revenues: Should You Be Concerned?
Century Aluminum reported revenues of $326 million in 2Q16. The revenue miss shouldn’t be a major concern given its performance on other metrics.
Why Freeport-McMoRan Missed Q2 Revenue Estimates
Freeport-McMoRan (FCX) posted revenues of $3.3 billion in 2Q16. In contrast, Freeport posted revenues of nearly ~$4.2 billion in 2Q15.
What Analysts Have to Say about Iron Ore Prices
Analysts have increased their short-term iron ore price forecasts due to stronger-than-expected temporary factors.
Are ArcelorMittal’s 2Q16 Earnings Estimates a Little Aggressive?
ArcelorMittal (MT) posted adjusted EBITDA of $927 million in 1Q16 and ~$1.4 million in 2Q15.
Can 2Q16 Mark a Turnaround for Freeport-McMoRan’s Revenues?
Analysts expect Freeport-McMoRan (FCX) to post revenues of ~$3.7 billion in 2Q16 and $4.4 billion in 3Q16.
2Q16 Earnings Call: Will U.S. Steel Raise Its 2016 Guidance?
One would expect U.S. Steel to increase its 2016 guidance during its 2Q16 earnings call. However, U.S. Steel might be conservative.
Can Higher Commodity Prices Boost Alcoa’s 3Q16 Earnings?
Alcoa expects its fiscal 2016 net income to rise by $160 million for every $100 per metric ton rise in aluminum prices.
Alcoa’s 2Q16 Earnings: Everything You Need to Know
Alcoa (AA) reported its 2Q16 earnings yesterday after the market closed. Here’s what you should know.
Could There Be More Upside to Cliffs Natural Resources’ Valuation?
For companies in cyclical industries such as steel and mining, the EV-to-EBITDA multiple is the preferred valuation metric.
Is Cliffs’s Valuation Justified?
Cliffs Natural Resources (CLF) is trading at a forward EV/EBITDA multiple of 11.0x compared with its last five-year average of 8.0x.
What Slowdown? US Steel Prices Rose 50% This Year
Steel companies’ earnings are sensitive to changes in steel prices. In recent quarters, their earnings have been negatively impacted by falling steel prices.
What AK Steel’s New Strategy Could Bring for Investors This Year
AK Steel’s 1Q16 steel shipments declined by 5% as compared to the corresponding quarter last year. U.S. Steel’s 1Q16 flat-rolled steel shipments also fell.
Understanding Freeport-McMoRan’s Technical Trading Parameters before Its 1Q16 Earnings
Based on closing prices on April 18, Freeport is trading 32% above its 100-day moving average. Teck Resources (TCK) is trading 45% above its 100-day MA.
Why Is Copper Falling from Its March Highs?
Energy prices have been a key driver of commodity prices over the last few quarters. They recovered from their January lows. Copper also piggybacked energy.
Are Steel Companies’ Premium Valuations Justified?
Valuation multiples are a key metric that smart investors consider. With the help of relative valuations, we can assess a company’s valuation with respect to its closest peers’ valuations.
Steel Production and Imports: What’s Driving US Steelmakers?
The steel industry has seen a change in fortune over the last couple of months. The year started on a weak note, but prices have recovered.
What Does the Correction in Iron Ore Prices Mean for ArcelorMittal?
Integrated operations have been one of the factors driving steel companies’ recent performances. Iron ore and coal mining fall under steel companies’ upstream operations.
China’s February Trade Data Weren’t That Bad for Metals!
On March 8, 2016, China’s February trade data spooked the global markets. Stock markets across the globe fell after China’s trade data released.