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  • uploads///China crude steel production
    Macroeconomic Analysis

    China’s Crude Steel Production Impacts Iron Ore Miners Like Vale

    Since 98% of mined iron ore goes into making steel, it’s important to track steel production. China consumes two-thirds of seaborne iron ore.

    By Anuradha Garg
  • uploads///Debt
    Basic Materials

    What Rio Tinto’s Balance Sheet Means for Future Growth

    Rio Tinto’s (RIO) net debt at the end of 1H17 was $7.6 billion, compared with $12.9 billion at the end of 1H16 and $9.6 billion at the end of December 2016.

    By Anuradha Garg
  • uploads///Balance sheet
    Earnings Report

    BHP’s Balance Sheet: The 2017 Outlook

    BHP’s net debt was $20.1 billion at the end of December 2016, as compared to $26.1 billion on June 30, 2016.

    By Anuradha Garg
  • uploads///Iron ore imports
    Miscellaneous

    What China’s High Iron Ore Imports Suggest

    China imported 92 million tons of iron ore in January 2017—a growth of 12.0% YoY and 3.4% month-over-month.

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

    This Could Lead BHP’s Cost-Reduction Efforts in Iron Ore

    Iron ore makes up 38% of BHP Billiton’s (BHP) revenues and 42% of its EBITDA.

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

    Can Vale SA Reverse Its 2Q17 Performance in 2017?

    While Vale SA outperformed peers including Rio Tinto (RIO) and BHP Billiton by rising 24.7% in 1Q17, its performance deteriorated significantly in 2Q17.

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

    How Vale Reacted to Higher Iron Ore Prices in 4Q16

    Iron ore price realization In 4Q16, Vale’s (VALE) ferrous division accounted for ~85.0% of its adjusted EBITDA (earnings before interest, tax, depreciation, and amortization). The company’s EBITDA for ferrous minerals came in at $4.1 billion, which was $1.6 billion higher than 3Q16. Higher realized prices and higher sales volumes led to these rises. The CFR […]

    By Anuradha Garg
  • uploads///Iron ore imports
    Miscellaneous

    What Led Robust Chinese Iron Ore Imports despite Contrary Views

    Contrary to what was suggested by many market participants, the iron ore imports by China increased in September 2016 instead of declining.

    By Anuradha Garg
  • uploads///RIO price perf
    Earnings Report

    High expectations for Rio Tinto’s full year results

    All eyes are now on Rio Tinto’s full year 2014 results due on February 12, 2015, when its management is expected to announce capital management initiatives.

    By Anuradha Garg
  • uploads///Volume grwht
    Basic Materials

    BHP reports mixed production results and maintains its guidance

    Overall, BHP reported mixed 2Q15 results. It recorded a 9% production increase during the December 2014 half-year.

    By Anuradha Garg
  • uploads///Revenue and EBIT mix
    Basic Materials

    BHP Billiton is a leading global diversified resources company

    BHP Billiton (BHP) is a leading global diversified resources company. It’s one of the world’s largest major commodity producers.

    By Anuradha Garg
  • uploads///Iron ore
    Basic Materials

    BHP Billiton’s steady iron ore production hits a record

    BHP Billiton (BHP) is the third-largest iron ore producer in the world. It’s ranked behind Brazil’s Vale (VALE) and Rio Tinto (RIO).

    By Anuradha Garg
  • uploads///Aggegate financing
    Basic Materials

    Could Citibank’s Three-Figure Forecast for Iron Ore Prices Come True?

    Citibank (C) is advising investors to participate in the current iron ore price (PICK) rally.

    By Anuradha Garg
  • uploads///industrial production
    Macroeconomic Analysis

    Why Industrial Production Figures Dipped in May

    Industrial production in the United States fell 0.1% in May as compared to an increase of 0.9% in April.

    By Ricky Cove
  • uploads///China Steel prices
    Company & Industry Overviews

    How Long Can Chinese Steel Margins Support Iron Ore?

    After hitting a multi-year high earlier this year, Chinese steel inventories are now depleting quickly.

    By Anuradha Garg
  • uploads///
    Macroeconomic Analysis

    Which Sector Posted the Most Job Gains in May?

    As per the May ADP employment report, job growth in the professional and business services sector continued to be the key driver for jobs additions.

    By Ricky Cove
  • uploads///Analysts
    Miscellaneous

    Analysts’ Take on Iron Ore Prices in 2018

    Macquarie upgraded its price forecasts for iron ore (PICK) and coal in January 2018. It revised its iron ore and steel prices on the back of improved ex-China demand and a rising cost curve.

    By Anuradha Garg
  • uploads///
    Macroeconomic Analysis

    FOMC’s Review of Economic Situation Signals Strong US Economy

    As per the FOMC staff report, inflation (TIP) in the US remained below the 2% target.

    By Ricky Cove
  • uploads///
    Macroeconomic Analysis

    Capacity Utilization Trends across US Industries in December

    Capacity utilization and the US economy Among the key macroeconomic indicators published by the Federal Reserve, US industries’ capacity utilization is particularly important for understanding the health of each industry. Changes to this indicator can help forecast any changes to the business cycle, product demand, and workforce demand. Increasing levels of capacity utilization could translate to a higher number […]

    By Ricky Cove
  • uploads///Iron ore
    Basic Materials

    BHP Billiton Outlook: Iron Ore Volumes Flat

    Iron ore (PICK) volumes are key to BHP Billiton’s (BHP) revenues and earnings as iron ore is the single largest commodity produced by the company.

    By Anuradha Garg
  • uploads///APIO
    Basic Materials

    What to Expect from Cleveland-Cliffs’ Asia-Pacific Segment

    Iron ore prices have been very volatile lately. While the prices fell substantially in September 2017, they picked up after that.

    By Anuradha Garg
  • uploads///Real Estate
    Basic Materials

    China’s Steel Demand Indicators: A Slower 2018?

    China’s property sector is a steel-intensive market—consuming approximately 50% of overall steel in the country—followed by the automotive industry.

    By Anuradha Garg
  • uploads///China steel prices
    Basic Materials

    How China’s Steel Prices Can Support Iron Ore in 2018

    Due to the government’s efforts to fight pollution in winter months, steel prices in China have hit a nine-year high in the first week of December 2017.

    By Anuradha Garg
  • uploads///China steel production
    Basic Materials

    Can China’s Steel Production Pick Up after March 2018 on Pent-Up Demand?

    Overall, China’s steel production in 2017 was strong, which was mostly supported by higher steel prices and firm demand.

    By Anuradha Garg
  • uploads///Analysts
    Financials

    What Are Analysts Predicting for Iron Ore Prices in 2018?

    Goldman Sachs (GS) believes that iron ore prices should sink back to $50 per ton in 2018.

    By Anuradha Garg
  • uploads///Intro
    Basic Materials

    Iron Ore Investors Could Anticipate These Factors in 2018

    Iron ore prices were tumultuous throughout 2017. There is a 44% difference between the peak of $95 per ton in February and the trough of $53 per ton experienced in July.

    By Anuradha Garg
  • uploads///
    Macroeconomic Analysis

    A Look at Capacity Utilization across US Industries in November

    In the November capacity utilization report, the manufacturing sector remained strong with 76.4% capacity utilization, the highest level since May 2008.

    By Ricky Cove
  • uploads///
    Macroeconomic Analysis

    Why Industrial Production Fell from 1.2% to 0.2% in November

    The Federal Reserve released its November industrial production report on December 15, 2017. The report indicated that industrial production improved 0.2% in November.

    By Ricky Cove
  • uploads///Iron ore premium
    Basic Materials

    How Vale Could Benefit from a Move to Quality in Iron Ore

    Vale has changed its product portfolio and quality in iron ore according to market demand. In 2017, it’s more focused on selling high-quality ore.

    By Anuradha Garg
  • uploads///China steel prices
    Basic Materials

    Can China’s Steel Prices Keep Supporting Iron Ore Prices?

    In the previous part of this series, we discussed how the momentum in Chinese steel production in 2017 has come on the back of strong steel prices.

    By Anuradha Garg
  • uploads///Intro
    Basic Materials

    Iron Ore Rebound: How Analyst Ratings for Miners Are Changing

    Iron ore prices in 2017 so far have been a roller coaster ride. Prices reached a peak of $95 per ton in February only to slump to a low of $53 per ton in July and take off soon after.

    By Anuradha Garg
  • uploads///Intro
    Basic Materials

    Here We Go Again: More Upside for Iron Ore Prices?

    We can easily call the journey for iron ore prices so far this year “tumultuous.” Prices hit a peak of $95 per ton in February 2017 only to fall to lows of $53 per ton in July before taking off again.

    By Anuradha Garg
  • uploads///
    Macroeconomic Analysis

    Which Industries Increased Industrial Production in October?

    The October Industrial Production report was released by the Fed on November 16 and showed a continued rebound in key sectors of the US economy.

    By Ricky Cove
  • uploads///Iron Ore
    Basic Materials

    Why Vale Believes the Iron Ore Market Is in Balance

    Vale’s (VALE) Ferrous division accounted for ~87.6% of its adjusted EBITDA in 3Q17, compared with ~82.0% in 2Q17.

    By Anuradha Garg
  • uploads///
    Macroeconomic Analysis

    Which Industries Increased Production Last Month?

    The Federal Reserve released its September industrial production report on October 17. The report indicated that key sectors in the US economy increased production in September.

    By Ricky Cove
  • uploads///China iron ore imports
    Basic Materials

    Can China’s Iron Ore Imports Support Prices?

    China is the world’s largest consumer of iron ore. Therefore, to gauge the outlook for iron ore demand, it’s important to track China’s iron ore import data.

    By Anuradha Garg
  • uploads///China steel prices
    Basic Materials

    China Steel Prices Are Touching Higher Highs: Impact on Iron Ore

    According to Reuters, the September 2017 steel rebar futures contract on the Shanghai Futures Exchange has risen 40% year-to-date.

    By Anuradha Garg
  • uploads///Iron ore imports
    Basic Materials

    Why China’s Lower Iron Ore Imports in July Could Be a One-Off

    China’s iron ore imports for July 2017 fell 2.4% over July 2016 to 86.3 million tons.

    By Anuradha Garg
  • uploads///Anlysts
    Financials

    Why Analysts Are Rethinking Their Near-Term Iron Ore Price Forecasts

    Goldman Sachs is bullish Although Goldman Sachs (GS) is bullish on the near-term price forecasts for iron ore, it believes that the pressure could return in the long run. In the near term, it believes that prices could be supported by the better-than-expected demand in China.  Goldman Sachs believes that the supply pressure could build […]

    By Anuradha Garg
  • uploads///iron ore prices
    Basic Materials

    Does BHP Billiton Expect to Sustain Iron Ore Price Momentum?

    BHP Billiton (BHP) attributed the rise in iron ore prices to higher pig iron production in China, the preference for higher grade materials, and improved steel margins.

    By Anuradha Garg
  • uploads///Part
    Basic Materials

    What’s Compass Minerals Doing to Gain a Cost Advantage?

    Led by its superior assets, location, and geological advantages, Compass Minerals holds a competitive position with a wide economic moat rating.

    By VanEck
  • uploads///Iron ore
    Basic Materials

    What’s the Outlook for Vale’s Iron Ore Division?

    Vale’s (VALE) ferrous division accounted for ~82%.0% of its adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) in 2Q17.

    By Anuradha Garg
  • uploads///China steel prices
    Basic Materials

    Chinese Steel Prices Are Surging—Can They Keep the Momentum?

    Chinese steel production has been hitting one record after another. This renewed vigor in the Chinese steel industry is due to higher steel prices.

    By Anuradha Garg
  • uploads///Iron ore imports
    Basic Materials

    China’s Iron Ore Imports Surged in June—Where Will They Go Next?

    It’s important for investors to keep track of China’s iron ore import data because they provide a clue regarding the demand patterns for imported iron ore among Chinese mills and traders.

    By Anuradha Garg
  • uploads///Anlysts
    Basic Materials

    Analysts’ Views: What Iron Ore Price Could Bring Balance?

    While iron ore prices have rebounded recently, analysts are still skeptical about the long term. Morgan Stanley has reduced its iron ore price forecast for 3Q17 by 23% to $50 per ton.

    By Anuradha Garg
  • uploads///Tehnicals
    Earnings Report

    CLF and Peers in Overbought Territory: What Triggered It?

    Based on its June 12, 2017, closing price, Cliffs Natural Resources is trading 15.2% and 11.9% higher than its 50-day and 20-day moving averages, respectively.

    By Anuradha Garg
  • uploads///China steel prices
    Miscellaneous

    Can the Rebound in Chinese Steel Prices Support Iron Ore Miners?

    One of the major factors that led to the iron ore price rally in 2016 and 1Q17 was stronger-than-expected Chinese steel prices.

    By Anuradha Garg
  • uploads///China iron ore imports
    Miscellaneous

    Why China’s June Iron Ore Import Outlook Is Strong

    China’s iron ore imports recovered from a six-month low in April by importing 91.5 million tons in May 2017.

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

    Cliffs Natural Resources’ First HBI Plant: What You Need to Know

    The estimated investment needed for Cliffs Natural Resources’ (CLF) HBI (hot briquetted iron) plant is ~$700 million.

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

    What Will Drive Vale SA’s Iron Ore Division Going Forward?

    In 1Q17, Vale’s (VALE) ferrous division accounted for ~89.0% of its adjusted EBITDA (earnings before interest, tax, depreciation, and amortization).

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

    These Factors Led to Weakness in Vale Stock after 1Q17

    In 1Q17, Vale (VALE) significantly outperformed its major peers with a rise of ~25%.

    By Anuradha Garg
  • uploads///Iron ore imports
    Miscellaneous

    China’s Iron Ore Imports Remain Strong: What’s the Outlook?

    Strong Chinese iron ore imports China imported 95.6 million tons of iron ore in March, compared with 83.5 million tons in February 2017. This figure implies a strong growth of 11% year-over-year (or YoY). This number is also the second-highest monthly amount on record. China imported 96.3 million tons of iron ore in December 2015. […]

    By Anuradha Garg
  • uploads///Analyst reco
    Miscellaneous

    Inside Iron Ore Miners’ Price Targets: Gauging Their Upside Potential

    Among the iron ore miners (PICK), analysts are most bullish on Rio Tinto (RIO), with 63% “buy” and 19% “hold” ratings.

    By Anuradha Garg
  • uploads///China iron ore imports
    Miscellaneous

    What China’s Resilient Iron Ore Imports Mean for Miners

    China imported a total of 83.5 million tons of iron ore in February 2017, which represents a growth of 13% YoY (year-over-year) and -9.2% month-over-month.

    By Anuradha Garg
  • uploads///Iron ore imports
    Miscellaneous

    China Imported Record Iron Ore in 2016: How’s the 2017 Outlook?

    China’s iron ore imports were robust in 2016. While the country’s imports fell 7.6% year-over-year (or YoY) in December 2016, they hit a yearly record in 2016.

    By Anuradha Garg
  • uploads///guidance
    Earnings Report

    Rockwell Automation’s Fiscal 2017 Guidance: A Closer Look

    ROK maintains that oil prices have recovered since early 2016 and that most of its business in the heavy industries end market is expected to stabilize.

    By Sheldon Krieger
  • uploads///Iron ore imports
    Miscellaneous

    What’s the Outlook for Chinese Iron Ore Imports?

    Contrary to what’s been suggested by many market participants, China’s iron ore imports have been robust in 2016. In November, imports were 92.0 million tons.

    By Anuradha Garg
  • uploads///Iron ore imports
    Miscellaneous

    Why Were Chinese Iron Ore Imports Weak in October?

    China’s weaker iron ore imports Contrary to what’s been suggested by many market participants, China’s iron ore imports have been robust in 2016. In October, however, the imports were at their lowest since February, at 80.8 million tons, down 13% month-over-month. On a year-over-year basis, the imports rose 7%. In the first ten months of […]

    By Anuradha Garg
  • uploads///jacobs engineering presentation
    Earnings Report

    Jacobs Engineering Posts the Highest Annual Free Cash Flows

    Jacobs Engineering Group declared its 4Q16 and fiscal 2016 results on November 22. It reported adjusted EPS (earnings per share) of $0.77.

    By Shannon Black
  • uploads///rockwell automation guidance
    Earnings Report

    After 3 Years, Rockwell Could See Sales Growth in Fiscal 2017

    Rockwell Automation maintains that oil prices have recovered since the beginning of 2016, and most of its business in the heavy industries end market is expected to stabilize.

    By Shannon Black
  • uploads///caterpillar earnings per share
    Earnings Report

    Caterpillar’s 3Q16 Earnings Bring ‘Inflection’ Back into Focus

    Caterpillar, the world’s largest manufacturer of construction and mining equipment, will declare its 3Q16 earnings before the market opens on October 25.

    By Shannon Black
  • uploads///Iron ore imports
    Miscellaneous

    Could China’s Iron Ore Imports Pull Back in the Near Term?

    In August 2016, China’s iron ore imports came in at 87.7 million tons, a rise of 18.3% compared to 74.1 million tons in August 2015 but a slight fall of 0.8% compared to July 2016.

    By Anuradha Garg
  • uploads///clarcor adjusted EPS
    Earnings Report

    Higher Productivity and Lower Sales Highlight Clarcor’s 3Q Results

    Clarcor beat Wall Street estimates by four cents with 3Q16 adjusted earnings per share (or EPS) of $0.73.

    By Shannon Black
  • uploads///Iron ore imports
    Miscellaneous

    Why China’s Iron Ore Imports May See a Near-Term Pullback

    In July 2016, China’s iron ore imports came in at 88.4 million tons. This was a rise of 2.7% compared to 86.1 million tons in July 2015 and 81.6 million tons in June 2016.

    By Anuradha Garg
  • uploads///Balance sheet
    Basic Materials

    A Look at BHP Billiton’s Balance Sheet after Fiscal 2016

    BHP has a strong balance sheet in this depressed commodity environment. Standard & Poor’s cut its rating by one notch from A+ to A in February 2016.

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

    More Losses? Caterpillar Puts Part of Its Mining Business on Sale

    Caterpillar logged four consecutive quarters of operating losses in the Resource Industries segment—it houses the mining equipment business.

    By Shannon Black
  • uploads///Caterpillar retail statistics
    Company & Industry Overviews

    Investors Shouldn’t Expect Near-Term Optimism from Caterpillar

    Caterpillar (CAT) released its retail statistics for July on a three-month rolling basis on August 18. However, Caterpillar’s retail sales fell in July.

    By Shannon Black
  • uploads///Iron ore
    Basic Materials

    How Much Lower Can BHP Billiton Push Its Costs in Iron Ore?

    BHP’s total iron ore production increased by 2% in fiscal 2016 to a record 227 million tons.

    By Anuradha Garg
  • uploads///part
    Earnings Report

    Parker-Hannifin’s 2017 Guidance Suggests Slowdown in Industrials

    Parker-Hannifin has guided its fiscal 2017 adjusted EPS at $6.40–$7.10. The midpoint of this range is roughly 4.5% higher than $6.46 in fiscal 2016.

    By Shannon Black
  • uploads///Iron ore costs
    Earnings Report

    What Variables Impacted Rio’s Iron Ore Earnings in 1H16?

    Like other major miners, Rio Tinto (RIO) is making efforts to improve its iron ore volumes while reducing its costs.

    By Anuradha Garg
  • uploads///part
    Earnings Report

    How Consolidation in the Mining Industry Impacts Caterpillar

    Caterpillar’s (CAT) sales in the Resource Industries segment, which houses the Mining Equipment business, fell by 29% year-over-year in 2Q16 to $1.4 billion.

    By Shannon Black
  • 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///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///debt maturity financial health
    Company & Industry Overviews

    ArcelorMittal Has Major Upcoming Debt Maturities

    ArcelorMittal has a steep debt repayment schedule for the next three years and could face refinancing risk if steel market conditions continue to worsen.

    By Mohit Oberoi, CFA
  • uploads///Crude oil price
    Macroeconomic Analysis

    Crude Oil Prices Are Under Pressure – Impact Iron Ore Companies

    Any significant fall in crude oil prices greatly impacts iron ore companies engaged in seaborne trade. This is because oil prices affect shipping rates.

    By Anuradha Garg
  • uploads///Aggregate financing
    Macroeconomic Analysis

    China’s Credit Growth Increased in February

    Aggregate financing was 1,350 billion yuan in February—down from 2,051 billion yuan in January. Overall, China’s credit growth picture was positive for February.

    By Anuradha Garg
  • uploads///China PMI
    Macroeconomic Analysis

    China’s HSBC Manufacturing PMI at a 7-Month High in February

    The HSBC Manufacturing PMI for China is a key indicator. It shows what direction the country’s manufacturing sector is taking. It was 50.7 for February.

    By Anuradha Garg
  • uploads///China industrial output
    Macroeconomic Analysis

    China’s Industrial Output Growth Slows – Worst in over 6 Years

    Industrial output measures the output of businesses involved in the industrial sector of the economy—including manufacturing, mining, and utilities.

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

    China’s Iron Ore Imports Fell in February – Impacted Iron Ore Stocks

    Chinese customs data tracks the country’s iron ore imports. It gives a good sense of the appetite for imported ore among Chinese mills and traders.

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

    Japan: Weak Iron Ore Imports Impact Iron Ore Miners

    Japan accounts for 10%–13% of the seaborne market. For full-year 2014, Japan imported 136.44 million tons of iron ore. This was a 0.5% increase from 2013.

    By Anuradha Garg
  • uploads///Brazil exports
    Macroeconomic Analysis

    Brazilian Iron Ore Exports Shipped Strong Volumes in February

    Brazil had a stronger run at iron ore exports in February. It had relatively weak data in January. The exports grew 8.4% month-over-month in February.

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

    How Is Cliffs Asia Pacific Doing in a Seaborne Supply Glut?

    Cliffs Asia Pacific iron ore operations are located in Western Australia at the Koolyanobbing complex. The remaining mine life there is only five years.

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

    All You Need to Know about Cliffs’ Debt Exchange Offer

    On February 26, 2015, Cliffs Natural Resources (CLF) announced exchange offers for four of its five series of senior unsecured notes outstanding as of 4Q14.

    By Anuradha Garg
  • uploads///Analyst estimates
    Company & Industry Overviews

    What’s the Current Market Sentiment for Cliffs Natural Resources?

    As for market sentiment, Cliffs (CLF) seems to be on the receiving end. Most of it is due to the worsening current and future outlook for iron ore prices.

    By Anuradha Garg
  • uploads///part
    Macroeconomic Analysis

    An Investor’s Guide to the Copper Supply Chain

    Copper is also known as “Dr. Copper,” as analysts see the metal’s prices as a reflection of the global economy’s health.

    By Mohit Oberoi, CFA
  • uploads///iron ore prices
    Macroeconomic Analysis

    Iron Ore Prices Are at a 6.5-Year Low – Will They Fall More?

    Iron ore prices hit a 6.5-year low of $54.20 per ton on March 23. The prices already fell by 13% YTD (year-to-date). The prices fell by 49% in 2014.

    By Anuradha Garg
  • uploads///iron ore prices
    Macroeconomic Analysis

    No bottom yet for iron ore prices

    Iron ore prices fell more than half since the start of last year. Iron ore is the primary raw material for steel producers using traditional blast furnaces.

    By Mohit Oberoi, CFA
  • uploads///higher leverage
    Company & Industry Overviews

    Why Freeport’s debt levels surged post acquisitions

    In 2013, Freeport acquired Plains Exploration & Production Company and Moran Exploration Company. Freeport’s debt levels surged post acquisitions.

    By Mohit Oberoi, CFA
  • uploads///copper prices
    Company & Industry Overviews

    How lower copper prices impact Freeport-McMoRan

    Lower copper prices are due mainly to the slowdown in the Chinese economy. Chinese copper demand has been a key driver of the global copper industry.

    By Mohit Oberoi, CFA
  • uploads///operating income
    Company & Industry Overviews

    What part of Freeport’s financials should investors track?

    Investors should track aspects of Freeport’s financials such as trends in operating profits. Freeport posted a loss of more than $3 billion in 4Q14.

    By Mohit Oberoi, CFA
  • uploads///Diamonds n Minerals
    Earnings Report

    Diamonds and minerals delivered strong free cash flow

    The Diamonds & Minerals segment’s underlying earnings of $401 million were 15% higher than 2013. Diamond production decreased 13% YoY.

    By Anuradha Garg
  • uploads///Cash returns
    Earnings Report

    Why the increased cash returns are important for Rio

    Rio Tinto announced a full-year dividend of $2.15 per share. For 2014, this represents total cash returns to shareholders of almost $6 billion.

    By Anuradha Garg
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