Vale Supply Issues and a Dovish Fed Sees Optimism Return to the Miners and Overvaluation Grow
The meaningful fall in resources stocks saw pockets of value emerging among the Australian miners in November. The S&P/ASX 200 Resources index fell 15% in less than two months. But since the end of November, shares have rallied on iron ore supply concerns and the apparent easing in the U.S. Federal Reserve’s tightening bias. The resources index is back at five-year highs.We see the greatest overvaluation among the bulk producers, particularly iron ore, which is benefiting from Vale’s disrup...
OZ Minerals is a mining company engaged in exploring for, developing and operating copper, gold and base metal projects. It owns the Prominent Hill copper-gold mine and Carrapateena copper-gold project, both located in South Australia. Co.'s operating segments are: Prominent Hill, which comprised of mining copper, gold and silver from the Prominent Hill Mine; Carrapateena, which comprised of exploration and evaluation associated with the Carrapateena project; Exploration and Development, which comprised of exploration and evaluation activities associated with the other projects and include interests and joint ventures with Minotaur and Toro Energy Ltd, and Corporate Development activities.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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