Teck Resources Ltd

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  • uploads///Base metals
    Company & Industry Overviews

    Will Vale’s Strategy of Preserving Optionality in Nickel Work?

    Vale’s (VALE) base metal (DBB) production, including nickel and copper production, was in line with its decision to lower its footprint by putting non-competitive mines on care and maintenance.

    By Anuradha Garg
  • uploads///Part
    Real Insights

    What Should Base Metal Companies Focus On?

    The presidential election proved beneficial to the commodities market—especially the base metal asset class.

    By VanEck
  • uploads///Base metals
    Basic Materials

    Lower Footprint in Base Metals to Boost Vale’s Profitability

    Vale’s (VALE) base metal (DBB) production, including nickel and copper, was flat to lower in 2017 compared to 2016.

    By Anuradha Garg
  • uploads///Base Metals
    Basic Materials

    How Higher Base Metals Prices Supported Vale’s Earnings

    Vale’s base metals production rose in 3Q17, with copper production jumping 16.0% and nickel production climbing 10.2% sequentially.

    By Anuradha Garg
  • uploads///balance sheet
    Company & Industry Overviews

    What Are Miners Doing to Strengthen Their Balance Sheets?

    Almost all miners—including BHP Billiton (BHP), Rio (RIO), and Glencore (GLNCY)—have either reduced their dividends (SDOG) or scrapped them all together.

    By Mohit Oberoi, CFA
  • uploads///BHP_Estimates
    Basic Materials

    Why Analysts Are Bullish on BHP Billiton’s Fiscal 2018

    After coming under pressure, iron ore prices have rebounded to reach ~$78 per ton.

    By Anuradha Garg
  • uploads///Analyst Reco
    Basic Materials

    BHP Billiton’s Fiscal 2017 Earnings: What Do Analysts Think?

    Of the 18 analysts covering BHP Billiton (BHP), ten of them have issued a “buy” rating. Six of them have given BHP a “hold.”

    By Anuradha Garg
  • uploads///Copper cpsts
    Basic Materials

    What Could Drive BHP Billiton’s Copper Costs in Fiscal 2018?

    BHP Billiton’s (BHP) copper production fell 16.0% in fiscal 2017 to 1.3 million tons.

    By Anuradha Garg
  • uploads///Base metals
    Basic Materials

    What’s Vale’s Base Metals Outlook?

    As we saw in the previous two parts of this series, Vale’s (VALE) iron ore and coal production increased sequentially in 2Q17.

    By Anuradha Garg
  • uploads///CSX Carloads
    Industrials

    Inside Norfolk Southern’s Freight in Week 28

    CSX’s (CSX) overall railcar traffic rose 3.1% in the 28th week of 2017 (ended July 15).

    By Samuel Prince
  • uploads///BHP_Estimates
    Company & Industry Overviews

    What Just Happened to BHP Billiton’s Earnings Estimates?

    Increasing inventories amid a strong supply outlook for iron ore is now taking a toll on prices.

    By Anuradha Garg
  • uploads///CP Carloads Intermodal
    Miscellaneous

    A Snapshot of Canadian Pacific Railway’s Week 19 Freight Traffic

    Canadian Pacific Railway’s (CP) total carloads rose 24.7% in the week ended May 13, 2017. The company hauled more than 32,000 railcars in the week.

    By Samuel Prince
  • uploads///CP Carloads Intermodal
    Miscellaneous

    Canadian Pacific Railway: A Summary of Freight Traffic in Week 18

    Canadian Pacific Railway’s (CP) total carloads rose 12.4% in the week ended May 6, 2017.

    By Samuel Prince
  • uploads///CP Carloads
    Miscellaneous

    Coal Boosts Canadian Pacific’s Volumes in Week 17

    Canadian Pacific’s carloads Canadian Pacific Railway’s (CP) total carloads rose 15.0% in the week ended April 29, 2017. The company hauled more than 34,000 railcars that week, similar to its total carloads in the corresponding week of 2016. CP’s railcars, excluding coal, rose 7.4% YoY (year-over-year) to settle at more than 27,000 units, compared with […]

    By Samuel Prince
  • uploads///CP Carloads Intermodal
    Miscellaneous

    Coal’s Rise Pushed Up Canadian Pacific’s Carloads in Week 16

    Canadian Pacific Railway’s (CP) total carloads rose 14.0% in the week ended April 22, 2017. The company hauled more than 33,000 railcars that week.

    By Samuel Prince
  • uploads///CP Carloads and Intermodal
    Miscellaneous

    Canadian Pacific Railway: Inside the Freight Volumes in Week 15

    Canadian Pacific Railway’s (CP) total carloads rose 6.1% in the week ended April 15, 2017.

    By Samuel Prince
  • uploads///CP Carloads
    Miscellaneous

    Canadian Pacific Railway: Overall Freight Traffic in Week 14

    Canadian Pacific Railway’s (CP) total carloads rose to 5.0% in the week ended April 8, 2017.

    By Samuel Prince
  • uploads///CP Carloads
    Company & Industry Overviews

    Canadian Pacific: How Its Freight Volume Compared with Its Peers

    Coal accounted for 11% of Canadian Pacific’s (CP) revenues and 12% of its carloads in 2016.

    By Samuel Prince
  • uploads///CP Carloads
    Macroeconomic Analysis

    Canadian Pacific: How Its Carloads Compare with Canadian National

    Canadian Pacific’s (CP) total carloads rose marginally 2.1% in the week ended March 25, 2017. The company hauled almost 32,000 railcars that week.

    By Samuel Prince
  • uploads///Part
    Miscellaneous

    What Could the Chilean Joint Venture Mean for Goldcorp?

    Cerro Casale has proven and probable gold reserves of 23.2 million ounces and 58.7 million ounces of silver reserves.

    By Anuradha Garg
  • uploads///CP Carloads
    Macroeconomic Analysis

    Did Coal Boost Canadian Pacific’s Carloads in Week 11?

    Canadian Pacific’s (CP) total carloads fell 0.4% in the week ended March 18, 2017. The company hauled more than 31,000 railcars in the week.

    By Samuel Prince
  • uploads///CP Carloads
    Macroeconomic Analysis

    Did Coal Push Up Canadian Pacific’s Carloads in the 10th Week?

    Canadian Pacific’s (CP) total carloads rose a marginal 0.9% in the week ended March 11, 2017.

    By Samuel Prince
  • uploads///Ratings_BHP
    Miscellaneous

    How Analysts View BHP Billiton after Its Strong Results

    Of the 21 analysts covering BHP Billiton (BHP), seven analysts issued “buy” recommendations, 11 gave “hold” recommendations, and three gave “sell” recommendations on the stock.

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

    What Led to the Steep Revision in Earnings Estimates for BHP Billiton?

    BHP Billiton (BHP) has seen an upward revision of 32% in revenues and 83% in EBITDA in the past six months.

    By Anuradha Garg
  • uploads///CP Carloads
    Macroeconomic Analysis

    Analyzing Canadian Pacific’s Carloads in the 9th Week

    Canadian Pacific’s (CP) total carloads fell a marginal 0.6% in the week ended March 4, 2017.

    By Samuel Prince
  • uploads///CP Carloads
    Macroeconomic Analysis

    Unloading Canadian Pacific’s Latest Carloads

    Canadian Pacific’s total carloads shrank 0.6% in the week ended February 25, reaching ~30,000 railcars.

    By Samuel Prince
  • uploads///Analyst reco
    Earnings Report

    BHP’s Fiscal 1H17 Results: What the Analysts Think

    Of the 21 analysts covering BHP, seven analysts have issued “buy” recommendations, while 11 have “hold” recommendations.

    By Anuradha Garg
  • uploads///Copper
    Earnings Report

    What’s Driving BHP Billiton’s Copper Costs Now?

    Unit cash production costs are a key metric for investors in the metals and mining space.

    By Anuradha Garg
  • uploads///CP Carloads
    Macroeconomic Analysis

    Boosted by Coal Volumes, Canadian Pacific’s Carloads Rose

    Canadian Pacific’s carloads Canadian Pacific’s (CP) total carloads rose 6.5% in the week ended January 28, 2017. The company hauled 32,000 railcars that week, compared with 30,000 in the corresponding week of 2016. CP’s railcars, excluding coal, rose 3% to settle at 26,000 units in the third week of 2017, compared with ~24,600 railcars in the […]

    By Samuel Prince
  • uploads///part  debt
    Company & Industry Overviews

    How Does Freeport’s Balance Sheet Look Heading into 2017?

    During its 4Q15 earnings conference call, Freeport mentioned a debt reduction program to raise $5 billion–$10 billion to shore up its balance sheet.

    By Mohit Oberoi, CFA
  • uploads///part   debt
    Company & Industry Overviews

    How Could Freeport’s Leverage Metrics Look in 2018?

    According to the slides shared by Freeport during its 4Q16 earnings call, its net debt should fall to $9.4 billion if copper prices average $2.25 per pound in 2017.

    By Mohit Oberoi, CFA
  • uploads///part  cash flows
    Company & Industry Overviews

    In Times When Cash Is King, Where Does Freeport Stand?

    In this article, we’ll look at Freeport’s 2016 cash flows and the 2017 guidance provided by the company.

    By Mohit Oberoi, CFA
  • uploads///part  sensitivity
    Company & Industry Overviews

    Freeport-McMoRan’s 2017 Guidance: Everything You Need to Know

    In this article, we’ll look at Freeport-McMoRan’s (FCX) 2016 EBITDA and the 2017 guidance provided by the company during its 4Q16 earnings call.

    By Mohit Oberoi, CFA
  • uploads///part  cash costs
    Company & Industry Overviews

    Will Freeport Be Able to Meet Its 2017 Cash Cost Guidance?

    In this part of the series, we’ll look at Freeport-McMoRan’s (FCX) 2016 unit cash costs and the 2017 guidance provided by the company.

    By Mohit Oberoi, CFA
  • uploads///part  shipments
    Company & Industry Overviews

    Why Freeport Expects Its Copper Shipments to Fall in 2017

    In this article, we’ll look at Freeport-McMoRan’s (FCX) 2016 shipments and the 2017 guidance provided by the company.

    By Mohit Oberoi, CFA
  • uploads///part  fcx
    Miscellaneous

    How Do Analysts Rate Freeport after Its 4Q16 Earnings?

    Freeport-McMoRan (FCX) released its 4Q16 earnings on January 25, 2017. In this article, we’ll take a look at analysts’ ratings for Freeport after its 4Q16 earnings release.

    By Mohit Oberoi, CFA
  • uploads///PART  EPS
    Company & Industry Overviews

    How Freeport’s 4Q16 Laid the Groundwork for a Solid 2017

    Freeport-McMoRan (FCX) closed at $16.65 on January 31, 2017, rising 2.5% from its previous day’s close. 2016 was a remarkable year for the company.

    By Mohit Oberoi, CFA
  • uploads///BHP_Estimates
    Earnings Report

    BHP’s Improved Operating Environment and Earnings

    Improved operating environment BHP Billiton’s (BHP) operating environment has significantly improved in the last year, mainly due to an increase and firming up of commodity prices between 2015 and 2016. As we’ve seen in the previous parts of this series, its production volumes, apart from those of copper, have also been quite strong. This combination of […]

    By Anuradha Garg
  • uploads///BHP_Reco
    Miscellaneous

    A Look at Analysts’ Ratings for BHP Billiton

    BHP’s consensus rating Of the 19 analysts covering BHP Billiton (BHP), four analysts have issued “buy” recommendations, 12 have “hold” recommendations, and three have “sell” recommendations on the stock. The consensus target price for the company is 27.50 Australian dollars, which implies a downside of 2% based on its current market price. Mining peers Freeport-McMoRan […]

    By Anuradha Garg
  • uploads///Copper
    Earnings Report

    Why Did BHP Reduce Its Copper Production Guidance?

    Copper production Along with other commodities, copper gained in 2016, especially after Donald Trump’s win. Companies producing copper are still taking steps to increase production to lower costs. These companies include BHP Billiton (BHP) (BBL), Freeport-McMoRan (FCX), Teck Resources (TCK), Southern Copper (SCCO), and Newmont Mining (NEM). Copper volumes fell BHP’s total copper production for […]

    By Anuradha Garg
  • uploads///part  ebitda
    Earnings Report

    What Were the Key Drivers of Freeport’s 4Q16 Profitability?

    Previously, we looked at Freeport-McMoRan’s (FCX) 4Q16 revenue. In this article, we’ll look at key drivers of the company’s 4Q16 profitability.

    By Mohit Oberoi, CFA
  • uploads///part  revenues
    Earnings Report

    Freeport-McMoRan’s 4Q16 Revenue: Everything You Need to Know

    Freeport-McMoRan (FCX) posted revenue of $4.4 billion in 4Q16. In contrast, Freeport posted revenue of nearly $3.6 billion in 4Q15 and $3.9 billion in 3Q16.

    By Mohit Oberoi, CFA
  • uploads///PART  EPS
    Earnings Report

    Why the Market Gave a Thumbs Down to Freeport’s 4Q16 Earnings

    Freeport-McMoRan (FCX), the world’s second-largest copper miner, released its 4Q16 financial results before the market opened on January 25, 2017.

    By Mohit Oberoi, CFA
  • uploads///part  trq
    Miscellaneous

    Do Analysts See Value in Turquoise Hill Resources?

    According to Reuters, TRQ has a mean one-year price target of 5.68 Canadian dollars (~$4.28), which is a 24.3% upside over its closing price on January 20.

    By Mohit Oberoi, CFA
  • uploads///part  tck
    Miscellaneous

    How Are Analysts Seeing Teck Resources before Its 4Q16 Earnings?

    Teck Resources (TCK) is expected to release its 4Q16 earnings on February 15. The stock gained ~550% in 2016.

    By Mohit Oberoi, CFA
  • uploads///part  scco
    Miscellaneous

    How Are Analysts Rating Southern Copper This Earnings Season?

    According to Reuters, Southern Copper has a mean one-year price target of $32.53, representing a 10.7% downside from its closing price on January 20.

    By Mohit Oberoi, CFA
  • uploads///part
    Miscellaneous

    How Are Analysts Rating Copper Producers This Earnings Season?

    Freeport-McMoRan (FCX), the world’s second-largest copper mining company, is expected to release its 4Q16 earnings on January 25.

    By Mohit Oberoi, CFA
  • uploads///part  indonesia
    Earnings Report

    Freeport’s 4Q16 Call: Will There Be a Dividend Update?

    Both Freeport-McMoRan’s (FCX) and Glencore (GLNCY) suffered from the same issues last year—falling commodity prices and higher leverage ratios (TCK).

    By Mohit Oberoi, CFA
  • uploads///BHP_Estimates
    Miscellaneous

    Will BHP Billiton’s Estimates Keep Rising in 2017?

    Analysts estimate BHP Billiton to deliver revenues of $37.9 billion for 2017—a fall of 1% YoY (year-over-year).

    By Anuradha Garg
  • uploads///BHP_Ratings
    Miscellaneous

    Inside BHP Billiton’s Recent Upgrades and Downgrades

    Of the 19 analysts covering BHP Billiton (BHP), four analysts issued “buy” recommendations, while 12 issued “holds,” and three issued “sells.”

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

    Freeport-McMoRan’s Leverage Ratios Improved in 2016

    Freeport-McMoRan fell to multiyear low price levels in January 2016. It had total debt of ~$20 billion—almost three times its market capitalization.

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

    Is Freeport-McMoRan’s Survival Crisis Over?

    Amid the survival crisis, both Freeport and Glencore announced a slew of measures to stay afloat amid the depressed commodity pricing environment.

    By Mohit Oberoi, CFA
  • uploads///CP Carloads
    Macroeconomic Analysis

    Which Commodity Groups Pulled Down Canadian Pacific’s Carloads?

    Canadian Pacific’s (CP) carloads fell 3.5% in terms of total railcars in the week ended December 31, 2016.

    By Samuel Prince
  • uploads///part  deficit
    Company & Industry Overviews

    Why 2017 Could Bring a Close Call for Copper Markets

    In our view, although 2017 could be a close call for a copper market deficit, we could head toward a deficit by 2018 as a result of supply-side factors.

    By Mohit Oberoi, CFA
  • uploads///part  gold
    Company & Industry Overviews

    FCX Investors: Don’t Lose Sight of Gold Prices in 2017

    Although copper is the key driver of Freeport-McMoRan’s (FCX) earnings, its earnings could improve in the next few quarters due to higher gold volumes from the Grasberg mine.

    By Mohit Oberoi, CFA
  • uploads///part  fed
    Company & Industry Overviews

    Why Copper Producers Should Watch the Fed’s Actions in 2017

    Copper is no different than other commodities that have a negative correlation to the US dollar. Further strengthening of the dollar could negatively impact copper prices (DBB).

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

    Copper 2017 Outlook: What Factors Should Investors Watch?

    Copper has been on a downtrend after hitting $10,000 per metric ton at the beginning of 2011. LME copper prices have fallen in every year since 2011.

    By Mohit Oberoi, CFA
  • uploads///part  energy versus copper
    Company & Industry Overviews

    Can Energy Prices Impact Copper and Freeport-McMoRan in 2017?

    Unlike aluminum, the copper industry uses a lot of diesel in the production process. Diesel prices are market-linked in most places.

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

    How Freeport-McMoRan’s Growth Drivers Could Change in 2017

    Freeport-McMoRan (FCX) needs to sign a fresh contract with the Indonesian government regarding its Grasberg mine.

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

    What Factors Influenced Freeport-McMoRan’s 2016 Price Action?

    The first half of 2016 went well for Freeport-McMoRan (FCX) as it rose 65% in 1H16. However, in 3Q16, Freeport largely traded sideways, falling 2.5% during the quarter.

    By Mohit Oberoi, CFA
  • uploads///part  debt
    Company & Industry Overviews

    A Deeper Dive into Freeport-McMoRan’s 2016 Performance

    During its 4Q15 earnings conference call, Freeport-McMoRan (FCX) announced its plans to raise $5 billion–$10 billion in 2016 to shore up its balance sheet.

    By Mohit Oberoi, CFA
  • uploads///part  TCK
    Company & Industry Overviews

    Will Teck Resources Have a Merry Christmas in 2017 Also?

    Higher commodity prices and an improved risk-on sentiment were Teck Resources’ key drivers in 2016.

    By Mohit Oberoi, CFA
  • uploads///part  TCK
    Company & Industry Overviews

    What Factors Supported Teck Resources’ Dream Run in 2016?

    Teck Resources has risen a whopping 556% year-to-date, placing it among the best-performing stocks of 2016. What factors supported Teck Resources’ dream run in 2016?

    By Mohit Oberoi, CFA
  • uploads///part  Teck
    Company & Industry Overviews

    Has Wall Street Changed Its Opinion about Teck Resources?

    Teck Resources (TCK) has been one of the best-performing companies in the metals and mining space (XME) in 2016. The stock has gained a whopping 556% YTD (year-to-date).

    By Mohit Oberoi, CFA
  • uploads///part  fcx
    Company & Industry Overviews

    Do Analysts See Freeport-McMoRan as a ‘Buy’ after the Election?

    According to consensus estimates compiled by Thomson Reuters, Freeport-McMoRan (FCX) has a mean one-year price target of $13.14.

    By Mohit Oberoi, CFA
  • uploads///CP Carloads
    Macroeconomic Analysis

    Drop in Volumes Weighs On Canadian Pacific’s Carloads

    Canadian Pacific’s carloads Canadian Pacific (CP) registered a fall of 9% in total railcars in the week ended December 17, 2016. The company hauled 29,000 railcars that week, compared with ~32,000 in the corresponding week last year. CP’s railcars, excluding coal, fell 11% to settle at just more than 23,000 units in the reported week […]

    By Samuel Prince
  • uploads///part  china import copper
    Company & Industry Overviews

    What Could a Trump Presidency Mean for Freeport and Copper

    China’s copper demand indicators have been stable over the past few months and have wound up supporting copper prices.

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

    Freeport Stock Is Soaring—And Not Just on the Trump Effect

    Copper prices have gained ~20% YTD (year-to-date), with sentiments improving considerably since the beginning of the year.

    By Mohit Oberoi, CFA
  • uploads///part  dot plot
    Company & Industry Overviews

    Could the Federal Rate Hike Impact Freeport-McMoRan Stock?

    The uncertainty over the long-awaited US interest rate hike finally ended when the Federal Reserve raised rates by 25 basis points on December 14, 2016.

    By Mohit Oberoi, CFA
  • uploads///part  coal
    Company & Industry Overviews

    How Far Can Higher Raw Material Prices Carry Steel Prices?

    Coal has been falling due to the global shift toward renewable and clean energy. However, as we noted in the previous article, coal prices have risen steeply so far in 2016.

    By Mohit Oberoi, CFA
  • uploads///part  aluminum
    Macroeconomic Analysis

    Alcoa Investors: What’s Keeping Chinese Aluminum Exports Subdued?

    One of the major challenges for the global aluminum industry has been the rise in Chinese aluminum exports.

    By Mohit Oberoi, CFA
  • uploads///BHP_Analyst reco
    Miscellaneous

    Why Citigroup Upgraded BHP Billiton to a ‘Buy’ Recently

    Of the 19 analysts covering BHP Billiton, five have “buy” recommendations, ten have “hold” recommendations, and four have “sell” recommendations on the stock.

    By Anuradha Garg
  • uploads///BHP_Earnings
    Miscellaneous

    What’s Affecting Analysts’ Earnings Estimates for BHP Billiton?

    According to data compiled from analysts’ estimates, they expect BHP to deliver revenue of $36.7 billion for 2017, a rise of 1% year-over-year.

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

    Will Freeport Follow Glencore and Restore Its Dividend?

    Freeport-McMoRan and Glencore suffered from the same issues last year. While Glencore restored its dividend, Freeport hasn’t restored its dividend yet.

    By Mohit Oberoi, CFA
  • uploads///part  debt maturity
    Company & Industry Overviews

    Analyzing the Impact of Glencore’s Improved Balance Sheet

    Last year, Glencore curtailed its dividend and sold off several of its non-core assets in a bid to strengthen its balance sheet.

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

    Higher Commodity Prices Impact Glencore’s Business Operations

    While trading activities account for more than 70% of Glencore’s consolidated revenues, most of its earnings come from the industrial business.

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

    Freeport Investors Are Confused: Why Did Copper Rally?

    Copper producers’ earnings including Freeport-McMoRan (FCX), Teck Resources (TCK), and Rio Tinto (RIO) (TRQ) are sensitive to copper prices.

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

    Life Beyond Trump: Key Indicators Freeport Investors Should Track

    As the euphoria over Donald Trump’s election win subsides, the market’s attention has shifted to other upcoming events.

    By Mohit Oberoi, CFA
  • uploads///CP Carloads
    Macroeconomic Analysis

    A Rise in Coal Volumes Failed to Lift Canadian Pacific’s Carloads

    Canadian Pacific (CP) registered a 3.9% fall in total railcars in the week ended November 12, 2016.

    By Samuel Prince
  • uploads///part  coal
    Earnings Report

    Coal: A Key Talking Point in Steel Companies’ 3Q16 Earnings Calls

    Seaborne coking coal prices have been on fire this year, tripling since the beginning of the year. Rising coal prices were a key talking point for steel companies in 3Q16.

    By Mohit Oberoi, CFA
  • uploads///CP Carloadsa
    Macroeconomic Analysis

    What Pulled Down Canadian Pacific’s Carloads Last Week?

    Canadian Pacific (CP) registered an 8% fall in total railcars in the week ended November 5, 2016.

    By Samuel Prince
  • uploads///part  debt
    Company & Industry Overviews

    Copper’s Spike Could Impact Freeport’s Debt Reduction Plan

    During its 4Q15 earnings conference call, Freeport mentioned a debt reduction program to raise $5 billion–$10 billion to shore up its balance sheet.

    By Mohit Oberoi, CFA
  • uploads///part  energy
    Company & Industry Overviews

    Can Donald Trump’s Policies Energize U.S. Steel?

    Trump claimed that he would throw his weight behind coal and shale gas. This apparent support of nonrenewable energy could be positive for U.S. Steel.

    By Mohit Oberoi, CFA
  • uploads///CP Carloads
    Macroeconomic Analysis

    How Canadian Pacific’s Carloads Compared to the Industry’s

    Canadian Pacific (CP) registered a fall of 5.5% in total railcars in the week ended October 29, 2016. The company hauled over 32,000 railcars in the week.

    By Samuel Prince
  • uploads///part  opec
    Company & Industry Overviews

    If OPEC Fails to Cut Output, Will Freeport Be Affected?

    OPEC’s (Organization of the Petroleum Exporting Countries) annual meeting is scheduled for November 30, 2016, in Vienna, Austria.

    By Mohit Oberoi, CFA
  • uploads///part  trump
    Company & Industry Overviews

    Trump or Clinton: Whose Policies Could Boost Freeport-McMoRan?

    Market observers are closely following the current election. This isn’t surprising given the diametrically opposed stances of the two candidates on key economic issues.

    By Mohit Oberoi, CFA
  • uploads///part  fed
    Company & Industry Overviews

    Why Freeport Investors Should Watch the Fed’s Actions

    Freeport-McMoRan (FCX), like other leveraged companies such as Teck Resources (TCK) and Glencore (GLNCY), is exposed to changes in interest rates.

    By Mohit Oberoi, CFA
  • uploads///part  eps
    Company & Industry Overviews

    The Fed, Elections, and OPEC: It’s a Happening Month for Freeport

    Freeport-McMoRan closed at $11.15 on November 1, 2016, falling 0.27% from its previous day’s closing. The company’s stock rose ~3% in October.

    By Mohit Oberoi, CFA
  • uploads///CP Carloads
    Macroeconomic Analysis

    Where Do Canadian Pacific’s Carloads Stand among Industry Peers?

    Canadian Pacific (CP) registered a YoY fall of 2.3% in total railcars in the week ended October 22, 2016. The company hauled ~30,000 railcars that week.

    By Samuel Prince
  • uploads///Analyst estimates_Miners
    Miscellaneous

    The Bulls Are Running on Iron Ore

    Citigroup has downgraded BHP Billiton (BHP) and Rio Tinto (RIO) because the bank believes there could be a big pullback in commodities by the end of 2016.

    By Anuradha Garg
  • uploads///part
    Earnings Report

    Key Takeaways from Freeport-McMoRan’s 3Q16 Earnings Call

    During its 3Q16 earnings call, Freeport-McMoRan (FCX) reduced its production guidance. The company expects its 2016 copper shipments to be 4.8 billion pounds.

    By Mohit Oberoi, CFA
  • uploads///part
    Earnings Report

    Can Lower Production Be Blamed for Freeport’s 3Q16 Revenue Miss?

    Freeport-McMoRan posted revenue of $3.9 billion in 3Q16. In contrast, Freeport posted revenue of nearly ~$3.7 billion in 3Q15 and ~$3.3 billion in 2Q16.

    By Mohit Oberoi, CFA
  • uploads///part  eps
    Earnings Report

    Why the Market Shrugged Off Freeport-McMoRan’s 3Q16 Earnings Miss

    Freeport-McMoRan released its 3Q16 earnings before the market opened on October 25, 2016. The company reported adjusted EPS (earnings per share) of $0.13.

    By Mohit Oberoi, CFA
  • uploads///BHP_Reco
    Earnings Report

    Word on the Street: How BHP Looks to Analysts

    Currently, seven analysts have a “buy” recommendation for BHP Billiton (BHP). Ten have a “hold” recommendation, and two have a “sell” recommendation.

    By Anuradha Garg
  • uploads///Copper
    Earnings Report

    Why BHP Billiton Could Change Its Copper Guidance for Fiscal 2017

    BHP’s total copper production for the September quarter was 6.0% lower YoY at 355,000 tons. This was expected since the grade declines at Escondida had kicked in.

    By Anuradha Garg
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    Earnings Report

    How Commodity Prices Could Affect Freeport’s 3Q16 Earnings

    In 2Q16, Freeport reported average realized prices of $2.18 per pound for copper, $1,292 per ounce for gold, and $41.1 per barrel for oil.

    By Mohit Oberoi, CFA
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    Earnings Report

    Why Analysts Expect Freeport-McMoRan’s 3Q16 Revenue to Rise

    According to data compiled by Bloomberg, analysts expect Freeport-McMoRan (FCX) to post revenue of ~$4.0 billion in 3Q16 and $4.6 billion in 4Q16.

    By Mohit Oberoi, CFA
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    Earnings Report

    Can Freeport-McMoRan Break Free with Its 3Q16 Earnings?

    Freeport-McMoRan has been trading in a narrow price channel for quite some time. In this article, we’ll look at some of Freeport’s key technical trading parameters.

    By Mohit Oberoi, CFA
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    Earnings Report

    Do Bears Sense Opportunity in Freeport-McMoRan’s 3Q16 Earnings?

    According to the latest update, Freeport-McMoRan’s short interest ratio was 4.3 on September 30, 2016. The ratio increased from its previous update of 3.3 on September 15.

    By Mohit Oberoi, CFA
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    Macroeconomic Analysis

    How Did Canadian Pacific’s Carloads Compare to Its Rival’s?

    Canadian Pacific (CP) registered a fall of 2.3% in total railcars in the week ended October 8, 2016. The company hauled 32,000 railcars in the same week.

    By Samuel Prince
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