ALLEGHENY TECHNOLOGIES (ATI $61.41, rated Overweight with price target $80) UNION DEMANDS PAY RAISES AND SIGNING BONUS AT BRACKENRIDGE FLAT-ROLLED UNIT 6/8/2011
TEMPLE INLAND (TIN $29.49, rated Overweight up from Neutral) RAISED TO OUTPERFORM IN EXPECTATION THAT LIQUIDATION OF BUILDING PRODUCTS FUNDS BUYBACK AS TIN’S TAKEOVER DEFENSE 6/8/2011
NEWMONT MINING (NEM $52.10, Rating Neutral) JUNE 3RD VISIT TO BODDINGTON MINE FOCUSES ON LONG-TERM STRATEGIES TO IMPROVE RETURNS ON $4.3 BIL. ASSETS; “NORMAL” OUTPUT ESTIMATED AT 627,000 OZ BASED ON 115,000 MTPD, 0.018 OZ/TON GRADE AT 83% RECOVERY 6/13/2011
GOLDCORP (GG $47.99, Rated Neutral) PRICE TARGET LOWERED TO $45 AS GG’S PREMIUM SEEMS TOO LARGE 6/13/2011
MERCATOR MINERALS (MLKKF US $2.77, Rating raised to OVERWEIGHT from NEUTRAL; price target raised to $5.50 from $3.50) NEW MANAGEMENT TEAM and the EL CRESTON MOLY PROJECT INCORPORATED INTO OUR MODELS 6/13/2011
QUADRA FNX MINING (QADMF $13.46) RAISED TO OVERWEIGHT FROM NEUTRAL AND PRICE TARGET TO $25 FROM $19; EXPECTED HIGH GRADE PRODUCTION FROM VICTORIA AND DISCOUNT RATE LOWERED FROM 10% TO 8.25% IN RESPONSE TO $500 MM BOND OFFERING PRICE AT …
FOREST PRODUCTS: BREAKDOWN OF CONTAINERBOARD MARKET BEYOND THE TOP FIVE PRODUCERS 6/15/2011
GOLD MINING – – OUR THIRD TRIP TO TIMMONS, ONTARIO SINCE SEPT. 2010 TO STUDY THE BRIGUS GOLD (BRD US $1.55, not rated) “BLACK FOX” MINE 6/15/2011
FOREST PRODUCTS INDUSTRY—RATING AND PRICE TARGET REVISIONS FOLLOWING SIX WEEK SELL OFF AS WE RAISE INTERNATIONAL PAPER TO NEUTRAL AND TRIM PLUM CREEK TARGET TO $35 FROM $38 6/17/2011
WESTERN AUSTRALIAN VISIT: (1) IMPLICATIONS TO “BIG SIX” DIVERSIFIED MINERS OF IRON ORE EXPANSIONS AND (2) COMMENTS FROM VISITS TO GINDALBIE IRON, MURCHISON METALS, AND ANGLO ALUMINUM 6/19/2011