ALUMINA LTD. (AWC $12.25, rated UNDERWEIGHT, target $11); REDUCING EPS ESTIMATES FOR 2009 AND 2010 ON LOWER FORECAST FOR ALUMINUM PRICING 9/24/2008
NEWMONT MINNG (NEM $39.62, Overweight) “MINOR INCREMENTAL” PROJECTS ENCOURAGE US; REITERATE OVERWEIGHT RATING 9/12/2008
ANTOFAGASTA (ANFGF, $7.50, rated OVERWEIGHT, target RAISED to $12.50 from $11 last updated May, 2007); RECENT SALE OF MINORITY STAKE DERISKS THE ESPERANZA PROJECT AND INJECTS $1.2 BILLION IN CASH; WE UPDATE OUR EARNINGS MODEL AND DERIVE A SUM-OF-THE-PARTS VALUATION …
ALLEGHENY TECHNOLOGIES (ATI $38.09, rated OVERWEIGHT) NEW HOT STRIP SECURES NEXT HALF CENTURY OUTLOOK WITH WORLD’S MOST SOPHISTICATED ROLLING MILL 9/17/2008
FNX MINING (FNXMF $11.23, rated Overweight) MAKES FIRST INSTALLMENT OF A 754,000 TON MEASURED RESOURCE AT LEVACK FOOTWALL DEPOSIT 9/17/2008
WE FAVOR BUYING INTO THE CRISIS AS BASIC RESOURCES ASSETS AND SHARES SEEM MORE SOUND THAN MUCH OF OUR MARKET 9/15/2008
INTERNATIONAL PAPER (IP $30.59, Overweight) PRICE TARGET RAISED TO $42 FOLLOWING PRICE HIKE ANNOUNCEMENT 9/14/2008
ALCOA (AA $27.19, rated Neutral)CEO REMARKS TO MONTREAL CONFERENCE DWELL ON “INTEGRATION” MORE THAN “PROFITABLE RETURNS” 9/10/2008
TEMPLE INLAND (TIN $18.55, rated OVERWEIGHT) PRICE TARGET RAISED TO $23 FROM $19 OWING TO INCREASED EARNINGS OUTLOOK 9/10/2008
FREEPORT-McMORAN COPPER AND GOLD (FCX $68, rated OVERWEIGHT, Target $121) GUIDES COPPER AND GOLD PRODUCTION LOWER ON SMALL 75,000 TONNE PIT WALL FAILURE AT GRASBERG OPEN PIT 9/10/2008