BARRICK GOLD (ABX $16.99 rated Overweight with $20 down from $25 price target) UPDATED FINANCIAL MODELS AFTER AUGUST 1ST CHARGES, TWO-YEAR PASCUA DELAY AND OTHER UPDATES. HIGHER 2016 ONWARD GOLD PRICE ESTIMATES INCLUDED 8/8/2013
CONTAINERBOARD INDUSTRY – – SKEPTICAL THAT APRIL 1ST $50/T CONTAINERBOARD AND MAY 1ST 10% OR $100/T BOX PRICES LAST 8/16/2013
FOREST PRODUCTS: ESTIMATED Q3 2013 WOOD VOLUMES UP 9.78% FROM Q3 2012 AND WEIGHTED AVERAGE OSB PRICE REALIZATION UP 11.42% FOR NBRXF, LPX, AND WY; ESTIMATES CUT DUE TO PRICE-COST SQUEEZES 8/16/2013
FORTESCUE METALS (FSUMF US $3.76; RAISED TO OVERWEIGHT FROM UNDERWEIGHT; price target raised from $4 to $5) HIGHER NEAR TERM IRON ORE PRICES GENERATE $5 BIL. XTRA CASH FLOW TO IMPROVE CREDIT 8/16/2013
CF INDUSTRIES (CF $187.84; rated Overweight ; price target $310) REVIEW OF COMPETING NEW NITROGEN PROJECTS; NITROGEN EXPORTS TO MOVE VOLUMES IN ALL SEASONS; CORN PRICES AND FERTILIZER PRICES LOWER 8/18/2013
HECLA MINING (HL $3.84, not rated) VISIT TO QUEBEC FORMER “AURIZON MINES” DIVISION FOCUS ON “HEVA” RESOURCE UPDATE 8/24/2013
BRIGUS GOLD (BRD $0.58, not rated) EXCELLENT OPPORTUNITIES FOR WHOMEVER CHOOSES TO FUND THEM 8/24/2013
GOLD INDUSTRY – – COST ESCALATIONS CONTINUE IN EASTERN CANADA 8/26/2013
ST. ANDREWS GOLDFIELDS (STADF US$0.355, not rated) SEVERAL GOLD ORE BODIES AWAIT DEVELOPMENT; COULD BENEFIT FROM NEW CAPITAL 8/26/2013
CENTURY ALUMINUM (CENX $7.99, rating remains at Neutral; price target raised to $11/share from $10/share) LOWER POWER COSTS STRENGTHEN LONG TERM EARNINGS AND HELP OFFSET LOWER SHORT TERM ALUMINUM PRICES 8/30/2013