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VALE (RIO $25.99, rated Overweight, target $45) REPORTS EPS UP 20% OVER 2Q07 DESPITE NICKEL DECLINE; OVER 40% DISCOUNT TO INTRINSIC VALUE AND STRONG BALANCE SHEET MAKE THIS A “TOP PICK;” ESTIMATES SHAVED OWING TO OUTPUT DELIVERY ISSUES August 25, …

VALE (RIO $25.99, rated Overweight, target $45) REPORTS EPS UP 20% OVER 2Q07 DESPITE NICKEL DECLINE; OVER 40% DISCOUNT TO INTRINSIC VALUE AND STRONG BALANCE SHEET MAKE THIS A “TOP PICK;” ESTIMATES SHAVED OWING TO OUTPUT DELIVERY ISSUES August 25, 2008 Read more »

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ALUMINA LTD. (AWC $15.37, rated UNDERWEIGHT, target lowered back to $11 from $13); RAISING $786 MILLION AT A 30% DISCOUNT TO LAST QUOTE TO PAY UNEARNED DIVIDEND AND FUND CAPITAL SHORTFALL DRIVEN BY COST OVERRUNS IN BRAZIL DURING A PERIOD …

ALUMINA LTD. (AWC $15.37, rated UNDERWEIGHT, target lowered back to $11 from $13); RAISING $786 MILLION AT A 30% DISCOUNT TO LAST QUOTE TO PAY UNEARNED DIVIDEND AND FUND CAPITAL SHORTFALL DRIVEN BY COST OVERRUNS IN BRAZIL DURING A PERIOD OF WEAKER EARNINGS 8/26/2008 Read more »

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ALUMINA LTD. (AWC $16.40, rated UNDERWEIGHT, target raised to $13 from $11); COST PRESSURES SQUEEZING ALUMINA MARGINS IN A PERIOD WHEN CAPEX ESTIMATES ARE RISING AND AT LEAST ANOTHER $550 MILLION IN EXTERNAL CAPITAL IS NEEDED; NEW CEO FACES SOME …

ALUMINA LTD. (AWC $16.40, rated UNDERWEIGHT, target raised to $13 from $11); COST PRESSURES SQUEEZING ALUMINA MARGINS IN A PERIOD WHEN CAPEX ESTIMATES ARE RISING AND AT LEAST ANOTHER $550 MILLION IN EXTERNAL CAPITAL IS NEEDED; NEW CEO FACES SOME DIFFICULT CHOICES August 2, 2008 Read more »

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(BHP $75.85, rated Neutral, $80 Target raised from $50) RAISING PRICE TARGET TO REFLECT $90 CRUDE THROUGH 2016, $100 IRON ORE AND HIGHER COAL, COPPER, ALUMINUM AND OTHER SALES PRICES PARTLY OFFSET BY STRONGER $A, HIGHER ENERGY INPUT AND OTHER …

(BHP $75.85, rated Neutral, $80 Target raised from $50) RAISING PRICE TARGET TO REFLECT $90 CRUDE THROUGH 2016, $100 IRON ORE AND HIGHER COAL, COPPER, ALUMINUM AND OTHER SALES PRICES PARTLY OFFSET BY STRONGER $A, HIGHER ENERGY INPUT AND OTHER COST INFLATIONS July 30, 2008 Read more »