ANTOFAGASTA PLC ($7.68, Rated Overweight, $11 “minimum” price target before definition of new discoveries, down from $12); LAYING FOUNDATIONS FOR NEW GROWTH 3/30/2009
SPOTMARKETS POSITIVE RATES OF CHANGE IN SOME MARKET SEGMENTS 3/30/2009
THOMPSON CREEK METALS (TC $4.05, Rated Overweight, Target reduced to $8 from $11); MOLY END MARKETS SOFTEN AND WE CUT ESTIMATES AGAIN; ACQUISITION TALK AS CASH BALANCES MAY WANE 3/24/2009
FREEPORT-McMORAN COPPER AND GOLD (FCX $40.86, downgraded to Underweight from Overweight) DOWNGRADED TO UNDERWEIGHT OWING TO FOUR FUNDAMENTAL RISK UNCERTAINTIES 3/24/2009
EVIDENCE OF CHINESE GROWTH ACCELERATION BUILDS, WHILE RATES OF DECLINE BOTTOM OUT IN MANY REGIONS OR PRODUCTS 3/23/2009
BARRICK GOLD (ABX $28.76, Rated Underweight) RATING LOWERED TO UNDERWEIGHT AS HIGH CAPITAL SPENDING AND POOR HEDGE POSITION COULD LEAD TO SIGNIFICANT DISAPPOINTMENTS 3/8/2009
INVENTORY DECLINES GIVE EVIDENCE THAT FINALLY SUPPLY CUTBACKS ARE BEGINNING TO CATCH UP TO DEMAND DECLINES 3/8/2009
SPOTMARKETS BUSINESS REMAINS SLOW AS PRODUCERS TEDIOUSLY CUT OUTPUTS 3/1/2009
(BHP $36.42, rated Overweight, Target $60); DESPITE LOWER COMMODITY PRICE FORECASTS, BHP IS IN A POSITION OF STRENGTH AFTER WALKING FROM RIO TINTO 2/27/2009
ALUMINUM INDUSTRY – – SLOW PACE OF SMELTER SHUTDOWNS AS INVENTORIES SKYROCKET SUGGESTS MULTI-YEAR LOSS PROFILE 2/23/2009