|Bid||31.70 x 0|
|Ask||31.72 x 0|
|Day's range||31.26 - 31.75|
|52-week range||27.53 - 35.68|
|Beta (3Y monthly)||1.05|
|PE ratio (TTM)||45.71|
|Earnings date||19 Feb. 2019|
|Forward dividend & yield||1.71 (5.47%)|
|1y target est||25.98|
In the previous articles, we discussed China’s steel and aluminum exports. While China (FXI) accounts for the bulk of global steel and aluminum capacity, it lacks in copper deposits and is the largest copper importer. China imported 423,000 metric tons of unwrought copper last month, a YoY fall of 3.0%.
At Vale Day in December 2017, Vale (VALE) had committed to reducing its net debt to $10 billion from $21 billion. While it was at that time seen as quite an ambitious target by analysts, Vale has achieved its aim. During Q3 2018 results, Vale reported that its net debt totaled $10.7 billion, which is the lowest level since Q3 2009.
Vale (VALE) has changed its product portfolio and quality in iron ore according to market demand. Vale made the major shift to selling high-quality ore in 2017, as China’s fight against pollution intensified, resulting in a huge variance between high-grade and low-grade material.
I think it’s worth considering whether the Australian Foundation Investment Co.Ltd. (ASX:AFI) share price and dividend is safe from market crashes.
Where we were: Worries about China’s economic slowdown have weighed on the Australian miner. Where we’re headed: Goldman Sachs thinks that BHP Billiton will be able to overcome worries about China, while JPMorgan is more downbeat. It’s been tough to be in many commodity-producer stocks lately, and BHP Billiton is no exception.
BHP Billiton Limited (ASX:BHP), Macquarie Group Ltd (ASX:MQG), and Nufarm Limited (ASX:NUF) shares will be on watch on Thursday. Here's why...
In 2018, labor contracts at several leading copper mines came up for negotiation. Analysts expected disruptions in the copper supply due to labor disruptions. However, the copper supply has been smooth in 2018. Analysts build a disruption allowance in their models due to copper’s unpredictable supply. Most copper mining companies provide a guidance range instead of a specific guidance. In this part, we’ll discuss leading copper miners’ production guidance.
In this part, we’ll discuss leading copper miners’ third-quarter production data. By looking at top copper miners’ production profiles, we can get crucial insight into the global copper supply.
The third-quarter earnings season is nearly over. Most copper miners (XME) including First Quantum Minerals (FM) and Freeport-McMoRan (FCX) have released their third-quarter results. Diversified miners like Rio Tinto (RIO) and BHP Billiton (BHP) have only released their operating performance. They only release their half-yearly and annual financial results.
BHP Billiton Limited (ASX:BHP) shareholders will be looking forward to some big dividends around Christmas.
Investing.com - Asian stocks were mixed in morning trade on Monday, with energy stocks under-performing after oil prices plunged to their lowest levels in more than a year last week.
Investing.com - Asian stocks were mixed in morning trade on Monday. Energy stocks underperformed as oil prices plunged to their lowest levels in more than a year last week.
While copper prices have been weak in 2018, higher gold shipments have helped Freeport-McMoRan (FCX) post higher earnings in the last few quarters. The company posted an adjusted EBITDA of $1.8 billion in the third quarter. The company’s EBITDA in the last 12 months ending on September 30 is $7.9 billion.
Previously, we discussed some Chinese copper demand indicators (SCCO). China’s copper demand indicators don’t look as strong as what we saw at the beginning of 2018. End consumers like the construction and automotive sectors have shown signs of moderation.
Is There More Heat Left in Freeport-McMoRan’s Rally? The real estate sector is the largest metal end consumer in China (FXI). China’s real estate investment grew 9.7% YoY (year-over-year) in the first ten months of 2018.
Freeport-McMoRan (FCX), the leading US-based copper miner, has seen a significant upside after the stock fell to its 52-week low after its third-quarter earnings were released. Although Freeport-McMoRan managed to beat its earnings estimates in the third quarter for the top line and bottom line, investors gave a thumbs down to its earnings.
As we saw in the previous part of this series, iron ore prices have stood their ground despite growing headwinds for China (FXI). As we discussed in the previous part, one of the factors driving iron ore’s resilience is the stocking up by mills ahead of winter production curbs. As restocking completes and winter cuts kick in, the demand for iron ore from China could take a hit.
Chinese authorities imposed curbs on steel production last year ahead of winter months to reduce pollution. Steel mills are therefore in restocking mode to advance steel production before the curbs kick in. China’s iron ore import data for September also underscored this fact.