METALS INVENTORIES FALL WITH LOWER SCRAP FLOWS AND OUTPUT 6/12/2012
METALS INVENTORIES FALL WITH LOWER SCRAP FLOWS AND OUTPUT 6/12/2012
Archives: Downloads
STEEL INDUSTRY – – LOWER PRICES FOR FINISHED STEEL, SCRAP, IRON ORE AND MET COAL MEAN LOSSES OR LOWER PROFITS IN DISTRIBUTORS, STEELMAKERS, SCRAP DEALERS, IRON ORE OR COAL MINES 6/12/2012
STEEL INDUSTRY – – LOWER PRICES FOR FINISHED STEEL, SCRAP, IRON ORE AND MET COAL MEAN LOSSES OR LOWER PROFITS IN DISTRIBUTORS, STEELMAKERS, SCRAP DEALERS, IRON ORE OR COAL MINES 6/12/2012
GOLDCORP (GG $39.39, RATING UNDERWEIGHT; PRICE TARGET $32) “MOST LENIENT CASE” NPV FOR GOLDCORP’S 70% INTEREST IN EL MORRO PROJECT ESTIMATED AT $312 M; “STRICT CASE NEGATIVE $2 BILLION VALUE; OPTION OF U/G SCENARIO STUDIED ADDS LITTLE VALUE 6/12/2012
GOLDCORP (GG $39.39, RATING UNDERWEIGHT; PRICE TARGET $32) “MOST LENIENT CASE” NPV FOR GOLDCORP’S 70% INTEREST IN EL MORRO PROJECT ESTIMATED AT $312 M; “STRICT CASE NEGATIVE $2 BILLION VALUE; OPTION OF U/G SCENARIO STUDIED ADDS LITTLE VALUE 6/12/2012
VALE (VALE $19.41, Rating held at Neutral; price target lowered to $28 from $32) EARNINGS LOWERED AS A RESULT OF LOWER ESTIMATED NEAR TERM PRICES AND LOWER LONG TERM ESTIMATED IRON ORE SALES VOLUMES 6/18/2012
VALE (VALE $19.41, Rating held at Neutral; price target lowered to $28 from $32) EARNINGS LOWERED AS A RESULT OF LOWER ESTIMATED NEAR TERM PRICES AND LOWER LONG TERM ESTIMATED IRON ORE SALES VOLUMES 6/18/2012
GOLDCORP (GG $39.54 rated Underweight with $26 down from $32 price target) DISCOUNT RATE INCREASED AND ESTIMATED PREMIUM TO NPV LOWERED DUE TO OPERATING STRUGGLES AT RED LAKE AND EIGHT PROJECTS BEING CONSTRUCTED IN AN ENVIRONMENT OF RISING CAPITAL COSTS 6/18/2012
GOLDCORP (GG $39.54 rated Underweight with $26 down from $32 price target) DISCOUNT RATE INCREASED AND ESTIMATED PREMIUM TO NPV LOWERED DUE TO OPERATING STRUGGLES AT RED LAKE AND EIGHT PROJECTS BEING CONSTRUCTED IN AN ENVIRONMENT OF RISING CAPITAL COSTS …
METALS INDUSTRY – – PRECEDENT OF SHAREHOLDER SUIT CONCERNING CAPITAL COST OVERRUNS 6/21/2012
METALS INDUSTRY – – PRECEDENT OF SHAREHOLDER SUIT CONCERNING CAPITAL COST OVERRUNS 6/21/2012
GLENCORE INTERNATIONAL PLC (GLCNF, $5.03 June 21st midday; RATED OVERWEIGHT; PRICE TARGET USD $7) ALTERNATIVE $10 BILLION DEBT REDUCTION SCENARIO ANALYZED IF NO XSTRATA MERGER 6/21/2012
GLENCORE INTERNATIONAL PLC (GLCNF, $5.03 June 21st midday; RATED OVERWEIGHT; PRICE TARGET USD $7) ALTERNATIVE $10 BILLION DEBT REDUCTION SCENARIO ANALYZED IF NO XSTRATA MERGER 6/21/2012
WORTHINGTON INDUSTRIES (WOR $17.00; rated OVERWEIGHT with $23 target) FAVORABLE COMMENTS FROM VISITS TO 45%-OWNED TWB AND 52%- OWNED SPARTAN STEEL HOT DIP GALVANIZED JVs IN MONROE, MI 6/25/2012
WORTHINGTON INDUSTRIES (WOR $17.00; rated OVERWEIGHT with $23 target) FAVORABLE COMMENTS FROM VISITS TO 45%-OWNED TWB AND 52%- OWNED SPARTAN STEEL HOT DIP GALVANIZED JVs IN MONROE, MI 6/25/2012
U.S. CONTAINERBOARD STRONGER THAN EXPECTED AND RECORD CHINESE MAY ALUMINUM OUTPUT HIGHLIGHT INT’L ALUMINUM INSTITUTE, WORLD STEEL ASSN., WBMS AND FIBRE BOX ASSN. DATA 6/26/2012
U.S. CONTAINERBOARD STRONGER THAN EXPECTED AND RECORD CHINESE MAY ALUMINUM OUTPUT HIGHLIGHT INT’L ALUMINUM INSTITUTE, WORLD STEEL ASSN., WBMS AND FIBRE BOX ASSN. DATA 6/26/2012
BARRICK (ABX $36.75 rated Overweight with $54 price target) REAFFRIM “BUY” AS BOARD OF DIRECTORS MAKE CHANGES ATTENTIVE TO SHARE PRICE 6/26/2012
BARRICK (ABX $36.75 rated Overweight with $54 price target) REAFFRIM “BUY” AS BOARD OF DIRECTORS MAKE CHANGES ATTENTIVE TO SHARE PRICE 6/26/2012