Glencore Unsp ADR
Why Freeport and Other Copper Miners Are Rising Today
Freeport-McMoRan (FCX) stock is up more than 2.5% today. Other copper miners are also in the green, although the Dow Jones is trading sideways.
Company & Industry Overviews
Yamana and Agnico Eagle: Is There More Upside in 2019?
Yamana Gold (AUY) and Agnico Eagle Mines (AEM) outperformed the Gold Miners Index (GDX) and gold (GLD) in the first quarter of 2019.
Investors Are Curious about Newmont-Goldcorp’s Updated Guidance
Goldcorp’s (GG) production for the fourth quarter came in at 630,000 ounces of gold, a YoY decline of 2.5%.
Why Analysts Expect Higher Earnings for Vale Going Forward
While Vale’s gains this year haven’t been much in absolute terms, it has outperformed most of its close peers.
Vale Is Getting Ready for the Electric Vehicle Revolution
On Vale Day on December 4, 2018, Vale (VALE) said it is getting ready for the coming electric vehicle revolution.
Vale Stock Could Benefit from Focus on Shareholder Returns
Vale stock has outperformed its close peers on a year-to-date basis.
Are Miners Looking Cheap? J.P. Morgan Thinks So, Upgrades Rio Tinto
Today, J.P. Morgan (JPM) upgraded Rio Tinto (RIO), believing that demand from China (FXI) should pick up over the coming months.
Rio Tinto Stock: Are Analysts Turning Away?
Of the 14 analysts covering Rio Tinto (RIO) stock, 57.0% recommend a “buy,” 29.0% recommend a “hold,” and 14.0% recommend a “sell.”
Is Freeport’s Grasberg Transaction a Win-Win?
On July 12, Freeport-McMoRan, the leading US-based copper miner, announced that the company would sell a small stake in PT Freeport Indonesia.
SCCO Is Getting No Love from Analysts as Copper Prices Tumble
Southern Copper (SCCO) hasn’t received any “buy” or equivalent ratings. Four analysts have rated Southern Copper stock as a “hold.”
Will Analysts Warm to Freeport after Its Grasberg Resolution?
Wall Street analysts seem to be sitting on the sidelines as Freeport negotiates its long-term mining rights in Indonesia.
Why Analysts Have a Love-Hate Relationship with Copper Miners
Metals have had a tough ride so far in 2018. After rallying for the last two years, base metals have witnessed selling pressures this year.
Why J.P. Morgan Upgraded Price Forecasts for These Iron Ore Stocks
J.P. Morgan (JPM) upgraded its price forecasts for iron ore and coal based on its analysis of the next generation of iron and coal projects.
Copper Markets: Possible Surplus in 2018
In the first five months of 2018, China’s unwrought copper imports have risen 16.8%—compared to the same period in 2017.
Is Wall Street Playing It Safe with Freeport-McMoRan?
Freeport-McMoRan (FCX) has received a “buy” or higher rating from nine analysts, while three analysts rated it as a “sell.”
Southern Copper Stock Lost Favor with Analysts
Southern Copper carries a mean consensus target price of $46.8, which represents a potential downside of 8.5% over its closing price on June 11.
What Freeport-McMoRan’s Strong Cash Flows Mean for Investors
In this part of our series, we’ll look at copper miners’ first-quarter free cash flows and look at the 2018 cash flow guidance.
Copper Miners’ First-Quarter Report Card: Hits and Misses
We’re now reaching the end of the first quarter earnings season, and most mining companies have already released their quarterly earnings results.
Should Doctor Copper Be Thanking Xi-Trump Bonhomie?
While commodities generally follow the underlying supply-demand dynamics in the long term, according to some observers, copper prices also tend to reflect macro developments.
What’s Making Carl Icahn Bearish on Freeport-McMoRan?
According to recent regulatory filings, activist investor Carl Icahn cut his holdings in Freeport-McMoRan (FCX).
Why Commodity Stocks Surged on April 18—All You Need to Know
On April 18, commodity stocks saw their highest one-day gains in months. Iron ore, copper, and aluminum helped these stocks.
Could Vale Benefit from Electric Vehicle Demand?
Vale (VALE) is optimistic about the growing popularity of electric vehicles.
What Enabled Vale to Adopt an Aggressive Dividend Policy
In its 1Q18 results, Vale (VALE) stated that net debt reduction has enabled it to adopt an aggressive dividend policy.
All You Need to Know about Vale’s New Dividend Policy
On March 29, 2018, Vale (VALE) announced a new dividend policy set to take effect in its 1H18 results.
How Are Analysts Rating Freeport amid Trade War Fears?
Among other factors, the concerns over escalating frictions between the United States and China have contributed to copper’s downfall.
What Should Base Metal Companies Focus On?
The presidential election proved beneficial to the commodities market—especially the base metal asset class.
Vale’s New Dividend Policy Announcement
Vale SA (VALE) has guided for an “aggressive and sustainable” dividend policy going forward. The company is planning to come up with a new dividend policy by the end of March 2018.
Why Did JPMorgan Recently Downgrade Rio Tinto?
Of the 14 analysts covering Rio Tinto (RIO) stock, 64.3% have given it “buy” ratings. Compared to the end of June 2017, the percentage of “buys” on Rio Tinto has fallen from 80%.
How Are BHP’s Margins Expected to Progress Going Forward?
BHP Billiton (BHP) has vowed to focus on reducing costs by another 10% in its Australian operations. It has a target of 2.2 billion Australian dollars (~$1.6 billion USD) in productivity gains over the next two years.
What’s Driving Analysts’ Bullish Estimates for BHP for 2018?
In a press release put out on November 28, BHP (BHP) vowed to cut costs by another 10% for its Australian operations.
Why Copper Bears Have Gone into Hibernation
Copper bears Copper has lagged behind other base metals for most of 2017. Copper’s underperformance of aluminum was surprising, given the projected deficit in copper markets. As for aluminum, the lightweight metal’s supply is expected to exceed demand in 2017, according to Alcoa (AA). However, after being surrounded by bearish sentiment in 2Q17, copper seems […]
Why October Could Be a Crucial Month for Freeport-McMoRan
In the previous parts of this series, we looked at some of the macro developments that could impact Freeport-McMoRan (FCX) in October.
Why Analysts See a Downside in Southern Copper
Southern Copper (SCCO) received a mean price target of $37.03 from 11 analysts polled by Thomson Reuters on September 22.
Are Analysts Bearish or Bullish on Glencore?
Glencore has received “strong buy” ratings from four analysts polled by Thomson Reuters on September 22.
Alcoa or Freeport: Who Benefits More from China’s Policies?
China has been taking several measures to address its rising pollution levels—curtailing polluting steel, aluminum, and coal units.
The Answer to Freeport-McMoRan’s Valuation Could Lie with Indonesia
Freeport-McMoRan (FCX) is trading at an EV-to-EBITDA multiple of ~6.6x based on its 2017 EBITDA estimates and ~5.1x based on its 2018 EBITDA estimates.
Inside Freeport-McMoRan’s Earnings Estimates
According to consensus estimates compiled by Thomson Reuters, Freeport-McMoRan (FCX) is expected to generate adjusted EBITDA of ~$1.4 billion in 3Q17 and ~$1.6 billion in 4Q17.
How Freeport-McMoRan Benefits from Electric and Hybrid Vehicles
Investments in renewable energy bode well for global copper demand, as the copper intensity in renewable energy is higher than in non-renewable energy.
What Recent Chinese Economic Data Suggests for Glencore
China imported 390,000 metric tons of unwrought copper and copper products in August 2017, compared to 350,000 metric tons in August 2016.
Freeport-McMoRan and Copper Slip from 2017 Highs: What’s Next?
Copper prices touched a three-year high in early September 2017. Bulls cited an improved demand environment amid falling ore grades at major mines to justify their optimism.
Why Analysts Are Bullish on BHP Billiton’s Fiscal 2018
After coming under pressure, iron ore prices have rebounded to reach ~$78 per ton.
China’s Copper Imports: Did Data Spoil Freeport’s Party?
China imported 390,000 metric tons of unwrought copper and copper products in August 2017—compared to 350,000 metric tons in August 2016.
Freeport and Glencore: How Their Interest Coverage Ratios Compare
In this part, we’ll look at different copper miners’ interest coverage ratios.
Reading Freeport’s Indonesia Timeline
Freeport-McMoRan (FCX) discovered the Grasberg mine in 1988. In 2014, Indonesia banned the export of unprocessed ores from the country.
Why Freeport Investors Will Likely Postpone the Celebration
Despite Freeport’s announcement of a resolution to its long-term Grasberg dispute with the Indonesian government, its stock fell on August 29.
Glencore Is Flying High: Do Analysts See More Upside?
Four analysts rated Glencore stock as a “strong buy,” 14 rated it as a “buy,” and eight rated it as a “hold.” It didn’t have any “sell” ratings.
Analysts Are Bullish on Teck Resources in 3Q17
Of the 19 analysts polled by Thomson Reuters, four rated Teck Resources as a “strong buy,” 13 rated it as a “buy,” and two rated it as a “hold.”
Why Markets Are Concerned about Freeport-McMoRan
Markets are apprehensive about Freeport’s Indonesia operations. Freeport is exporting copper concentrate from Indonesia under a short-term export permit.
Copper Inventory: Bulls Won the Game This Time
Copper prices have been strong this year. Bulls seem to have won the game this time when it comes to the copper inventory (GLNCY) (SCCO).
Copper Prices Defy Gravity, Maintain the $6,500 Price Level
Copper prices have been on fire in the past month. Copper has topped $6,500. Based on the closing prices on August 25, copper has gained 22.2% in 2017.