Teck Resources Ltd
Is Future Growth Driving the Divergence between Freeport and SCCO?
Southern Copper (SCCO) is aggressively expanding its copper mining operations while Freeport-McMoRan (FCX) is selling its crown copper assets to repay some of its debt.
Can Freeport-McMoRan’s 2Q16 Earnings Justify Its Rally?
Freeport-McMoRan (FCX) is expected to release its 2Q16 earnings on July 26. In this series, we’ll explore what Wall Street analysts expect from FCX’s 2Q16 earnings.
Freeport-McMoRan Sees More Room to Cut Costs
Freeport-McMoRan expects its copper unit cash costs after by-product credits to be $1.10 per pound in 2016, a year-over-year reduction of more than 28%.
Southern Copper’s Financial Performance: Key Investor Takeaways
Southern Copper’s financial performance has weakened over the last couple of years. Its falling revenues are largely attributable to copper price volatility.
World Refined Copper Production Rose 5% in 1Q15
Refined copper production in China rose 9% YoY until March. China was the biggest contributor to the surge in refined copper production.
Canadian Pacific’s Carloads: Even Coal’s Rise Failed to Stop the Decline
Canadian Pacific (CP) registered a fall of 7.3% in total railcars in the week ended July 23, 2016. The company hauled ~23,000 railcars that week.
Rising Coal Volumes Not Enough to Stop CP’s Fall in Carloads
Canadian Pacific (CP) registered a fall of 5.2% in total railcars in the week ended August 27, 2016.
Freeport-McMoRan Plans to Cut Its Debt by $10 Billion—But How?
During the 4Q15 earnings conference call, Freeport-McMoRan’s CEO, Richard Adkerson, stated the company would “take immediate steps to reduce debt to enhance shareholder value.”
Attention Freeport-McMoRan Investors: Here’s What to Watch in 2016
There’s a long road ahead for Freeport-McMoRan’s asset sales program. The company is looking to raise between $5 billion and $10 billion in 2016.
Freeport-McMoRan’s Technical and Fundamental Indicators
Freeport-McMoRan (FCX) closed at $10.54 on September 21. It rose almost 6% from its closing the previous day. The stock has gained 2.4% in September.
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).
How Freeport’s Valuation Looks Going into 3Q16
Freeport’s asset sales program has restored investor confidence, helping it to trade at a higher valuation multiple.
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.
Freeport-McMoRan Sees Analysts Cut Their Price Targets
Of the 20 analysts surveyed by Bloomberg, only four rate Freeport-McMoRan’s (FCX) stock a “buy,” while two analysts rated it a “sell.” An overwhelming majority of analysts rate FCX as a “hold.”
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.
Why Freeport Needs a Friendly Fed Like Never Before
Higher gold prices couldn’t have come at a better time for Freeport. The company is grappling with sagging metal prices in its core copper mining business.
Is Newmont’s Project Pipeline Strong Enough to Support Growth?
Newmont Mining is poised to overtake Barrick Gold as the world’s largest gold producer in 2018.
Copper Executives Chime In on Copper Industry Outlook
Though the long-term copper outlook seems much better compared to steel and iron ore, there seems to be more short-term pain as is apparent in the falling copper prices.
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.
Rio Tinto Maintained Copper Production Guidance for 2015
Rio Tinto (RIO) had combined its coal and copper divisions to form a single division earlier in the year. Together they contributed to 20% of RIO’s underlying EBITDA for 1H15.
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.
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 […]
Newmont’s Project Pipeline Remains Strong: What’s the Upside?
Newmont Mining is poised to overtake Barrick Gold as the world’s largest gold producer in 2018.
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.
Copper Industry Gets a Lift in 1H2015
In this series, we’ll discuss recent copper industry indicators. We’ll see how copper prices have done in 2015. We’ll also discuss copper supply trends and demand.
Freeport-McMoRan’s 1Q18 Earnings: The Word on Wall Street
Freeport-McMoRan, the leading US copper miner, is slated to release its 1Q18 earnings on April 24.
Will BHP Billiton Borrow to Maintain Progressive Dividends in 2016?
During its AGM on October 22, BHP highlighted its commitment to a strong, stable balance sheet, specifying that it won’t put its “A” credit rating at risk.
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 […]
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.
Unloading Canadian Pacific’s Latest Carloads
Canadian Pacific’s total carloads shrank 0.6% in the week ended February 25, reaching ~30,000 railcars.
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.”
Freeport-McMoRan Looks to Control Costs amid Copper Price Slump
Copper companies have been working to reduce their unit production costs to survive the current slump in copper prices.
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.
The Key Risks Facing Southern Copper
The biggest risk facing the entire mining industry (XME) is the way Chinese demand will play out. Concerns over the Chinese slowdown could continue to weigh heavily on metal prices.
How Could Rio Tinto’s Copper Production Pan Out Going Forward?
Copper volumes are key for companies that produce copper. In this part of the series, we’ll look at Rio Tinto’s (RIO) copper production profile.
Why BHP’s Copper Production Is in a Medium Term Downtrend
BHP’s total copper production for 1Q15 was 3% lower YoY, at 377 thousand tons. But this was expected as grade declines at Escondida kicked in.
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.
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.
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.
Why Did Canadian Pacific’s Carloads Fall in the Week Ending July 16?
Canadian Pacific (CP) registered a rise of 1.2% in total railcars in the week ended July 16, 2016.
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.
How Freeport’s profit margins compare to other copper producers
Freeport has the lowest profit margins compared to other copper producers. This could be due to Freeport’s exposure to energy sales.
Teck Resources’ 2Q17 Earnings: What’s the Word on Wall Street?
Teck Resources (TECK), the Canada-based diversified miner (EWC), is scheduled to release its 2Q17 earnings on July 25.
Strong US Copper Demand Indicators Bode Well for Freeport-McMoRan
An uptick in construction activity would lead to higher copper demand. Construction spending has been strong in the US, breaching the $1 trillion annualized mark for three straight months.
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.
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).
How Analysts Rate Teck Resources ahead of 4Q17 Earnings
Teck Resources has received a “strong buy” rating from five analysts, while 13 analysts have rated the stock a “buy” or some equivalent.
Why September Popped for Freeport-McMoRan’s Investors
On September 12, Freeport-McMoRan (FCX) announced the sale of its Deepwater Gulf of Mexico energy assets to Anadarko Petroleum (APC) for a cash consideration of $2 billion.
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.
Inside Copper’s 2017 Demand-Supply Dynamics
Copper’s 2017 demand-supply dynamics As noted previously, copper prices have shown strength recently, piggybacking the weak US dollar. However, we should remember that in the medium-to-long term, demand-supply dynamics are a key driver of copper prices (TECK) (GLNCY). In this article, we’ll see how copper’s demand-supply balance looks in 2017. Demand China’s car sales regained momentum […]
Freeport-McMoRan’s 1Q18 Earnings: Reading between the Lines
Freeport-McMoRan (FCX) released its 1Q18 earnings today and reported revenues of $4.8 billion.
How Freeport’s Strategy Differs from Other Copper Producers
Freeport-McMoran (FCX) does not have many non-core assets that it can sell. The company mainly has copper and energy assets.
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.
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.
Why Rio Tinto’s Copper Production Could Have More Downside
Copper volumes are key for companies that produce copper. In this article, we’ll look at Rio Tinto’s (RIO) copper production profile.
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.
Can Freeport’s 4Q17 Earnings Keep Investor Optimism Alive?
Freeport-McMoRan (FCX), the leading US-based copper miner (XME), is scheduled to release its 4Q17 earnings on January 25.
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.
Why Did Canadian Pacific’s Carloads Fall in the Week Ending July 9?
Canadian Pacific (CP) registered a fall of 6.8% in total railcars in the week ended July 9, 2016.
Will Freeport-McMoRan’s 4Q15 Earnings Calm Worried Investors?
Freeport-McMoRan (FCX) is expected to release its 4Q15 earnings on January 26. The company’s earnings will come as the company fights for survival.
Are Freeport-McMoRan Bears Caught in a Typical Short Squeeze?
Freeport shorts got caught in a short squeeze and had to square off their positions as prices rose. At times, such short squeezes have a domino effect.
Teck Resources Balance Sheet Healthy Despite Challenges
Liquidity and leverage are some of the key metrics that analysts track on any company’s balance sheet. A comfortable liquidity ratio is a positive thing.
Newmont Mining: Upside to Its Project Pipeline
Newmont Mining has already declared commercial production for three projects this year. The latest project is Subika Underground.
Buffett’s Love for Banking Stocks Continued in Q4
Berkshire Hathaway is the largest shareholder in Wells Fargo (WFC), Bank of America (BAC), U.S. Bancorp (USB), and American Express (AXP).
FireEye Sets Its Business Target through Channel Partners
FireEye’s (FEYE) channel sales seem to be picking up momentum driven by the different strategy the company has deployed to boost its business.
What’s Giving Freeport-McMoRan a Hard Time This Month
US-based copper miner Freeport-McMoRan (FCX) has seen selling pressure over the last two weeks.
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.
What Should Base Metal Companies Focus On?
The presidential election proved beneficial to the commodities market—especially the base metal asset class.
What’s the Wild Card for Copper Prices in 2018?
Copper prices have been weak this year after rising for two consecutive years.
Supply Disruptions Could Support Copper Prices in 2018
Freeport expects strong copper demand globally. The company also pointed to supply-side issues that are expected to hit mined copper supply in 2018.
Can Copper Provide Upside to BHP Billiton in Fiscal 2018?
Copper prices (DBB) have been quite buoyant lately, rising more than 30% in 2017—the second consecutive annual gain.
What Teck Resources Investors Could Expect in 2018
Asia is the biggest market for Teck Resources’ coal division, accounting for 75% of its shipments.
Could Freeport-McMoRan Reinstate Its Dividend in 2018?
Freeport-McMoRan (FCX) has cut its net debt by more than half over the last two years. It achieved that by exiting its energy assets and selling some of its copper assets.
Teck Resources in 2017: From Stake Sale to Share Buyback
Although Teck Resources (TECK) stock managed to rise 23.9% in 2017 due to the so-called Santa Claus rally in December 2017, it was a lackluster year overall for the company.
Teck Resources’ 2018 Outlook: Can the Uptrend Continue?
Teck Resources (TECK), the Canada-based diversified miner (EWC), rose 23.9% in 2017. While its 2017 gains look decent, most of them came in December.
Freeport’s Indonesia Deal: So Near, yet So Far
Freeport-McMoRan (FCX) and the Indonesian government are discussing the fine print of extending the company’s mining license in the country beyond 2021.
Metals Experience Selling Pressure after Strong 2017
In November, aluminum shed almost 5.0% and copper lost ~0.3%. However, we’ve seen a fresh wave of selling in industrial metals this month.
Which Copper Miner Is Wall Street Betting On in 2018?
In this series, we’ll see how analysts are rating leading copper miners as 2017 draws to a close. We’ll also see how vehicle electrification could impact mining companies.
How Glencore and TECK’s Capital Allocation Strategies Stack Up
Capital allocation is key for metal and mining companies given the industry’s capital-intensive nature.
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.
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.
Why Analysts Are Bullish on BHP Billiton’s Fiscal 2018
After coming under pressure, iron ore prices have rebounded to reach ~$78 per ton.
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.
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.”
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.”
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.
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.
It’s Raining Cash for Miners amid Resurgent Commodity Prices
Freeport-McMoRan (FCX) generated free cash flows of $675.0 million in 2Q17, which took its 1H17 free cash flows to $1.1 billion.
Chart in Focus: Freeport-McMoRan’s 2Q17 Earnings
Freeport-McMoRan (FCX) posted adjusted EBITDA of $1.2 billion in 2Q17. The company posted adjusted EBITDA of $1.0 billion in 1Q17 and $966 million in 2Q16.
Freeport or Southern Copper: Which Produces Copper More Cheaply?
When commodity prices fall, high-cost producers become unprofitable much sooner than their peers, which are placed more favorably on the cost curve.
How Analysts View FCX and TECK after Their 2Q17 Earnings
According to the consensus estimates compiled by Thomson Reuters, Freeport-McMoRan (FCX) carries a one-year price target of $14.76, implying a 1.9% upside over its August 1 closing price.
Teck Resources: What Could Drive the Next Leg of the Rally
Teck Resources (TECK) is having a dismal 2017. Based on its July 7, 2017, closing price, the stock has fallen 11.8% this year.
How Are Analysts Rating Southern Copper in 2Q17?
Southern Copper has received a “buy” or equivalent rating from only three of the 13 analysts surveyed by Thomson Reuters.
Why Analysts Expect Freeport-McMoRan’s 2Q17 Profits to Rise
Freeport is expected to post revenues of $3.8 billion in 2Q17 compared to $3.3 billion in 1Q17.
Analysts’ Views: How Much Upside Does Teck Resources Have?
Teck Resources (TECK) is having a dismal 2017. Based on its June 23, 2017, closing price, the stock has fallen 17.4% this year.
The Truth behind 2017 Copper Inventories
Fluctuations in copper inventories have been key drivers of copper prices in 2017.
Mid-Year Review: What Could Drive Copper Miners in 2H17
Copper’s story has essentially been a supply-side-driven deficit. We’ve seen significant supply disruptions this year.
China’s Copper Imports in May: What You Need to Know
Chinese copper imports are a key driver of global copper markets and provide us with insights into the country’s copper demand.
Can June Bring Respite for Freeport-McMoRan?
Freeport-McMoRan (FCX), the world’s second-biggest copper miner, closed at $11.49 on May 31, losing 1.54% from its previous day’s closing price.
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.