AGNICO-EAGLE (AEM $56.40, RATED OVERWEIGHT FROM NEUTRAL AT $75 UP FROM $55 PRICE TARGET) BENEFITS FROM HIGHER GOLD PRICES, SIMPLICITY AND EXPANSIONS TO 4 OF 5 NEWLY CONSTRUCTED MINES 11/5/2009
BARRICK GOLD (ABX $40.71, Rating Neutral) CONCERNS REGARDING FUTURE CAPITAL SPENDING, RETURNS AND THE FEASIBILITY OF CERRO CASALE, EL MORRO, REKO DIQ AND OTHER PROJEJCTS 11/5/2009
ALCOA (AA $12.95, rating raised to Neutral from Unattractive price target raised to $16 from $10) HIGHER PRICES WILL DRIVE HIGHER EARNINGS AS PRICE TARGET RAISED TO $16 FROM $10 11/6/2009
WEYERHAEUSER (WY $36.77, Neutral from Underweight) REDUCTIONS TO MAGNITUDE OF NEGATIVE CASH FLOWS ENCOURAGE US; RAISED TO NEUTRAL WEIGHT 9/9/2009
VERY SLOW PROGRESS OF SEVERAL LARGE CAPITAL SPENDING PROJECTS REINFORCES LONG-TERM OPTIMISMS 9/27/2009
COPPER, NICKEL AND LEAD MAY SHOW “APPARENT CONSUMPTION” GAINS GLOBALLY FOR 2009 !!!! 9/20/2009
THIRD- AND FOURTH-QUARTER EARNINGS SURPRISES SHOULD BE BIASED LARGE UPSIDE SURPRISES 9/13/2009
PRICES VARY SHARPLY AS FOUR METALS RISE/FALL 10% LAST WEEK 9/8/2009
RIO TINTO (RTP $171.12, rated Overweight at $240 target) NOTES FROM SEPT. 20TH-24TH NORTH AMERICAN ALUMINUM, DIAMONDS AND COPPER TOURS 9/28/2009
RIO TINTO (RTP $171.12, rated OVERWEIGHT target $240); UPDATED ESTIMATES REFLECT RECENT RIGHTS ISSUE, DIVESTMENTS OF ASSETS, AND ESTIMATED COPPER PRICE INCREASES 9/28/2009