reports
- Sid Rajeev
- MarketLine Department
Vedanta Resources Plc - Strategy, SWOT and Corporate Finance Report
Summary Vedanta Resources Plc - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360Ëš view of the company. Scope - Detailed information on Vedanta Resources Plc required for business and competitor intelligence needs - A study of the major internal and external factors affecting Vedanta Resources Plc in ...
- MarketLine Department
Alacer Gold Corp - Strategy, SWOT and Corporate Finance Report
Alacer Gold Corp - Strategy, SWOT and Corporate Finance Report Summary Alacer Gold Corp - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360Ëš view of the company. Key Highlights Alacer Gold Corp (Alacer) is a gold mining company. It carries out the exploration, development and production of gold, silver...
- David Wang
- CFA
High Prices Bolster Teck's 1Q, but We Expect Considerable Downside
Higher copper, metallurgical coal, and zinc prices more than offset Teck Resources’ poor operating performance in the first quarter. Teck realized met coal prices of $213 per tonne, slightly higher than the $207 achieved during the fourth quarter of 2016. Still, the realized price was roughly 25% lower than its headline $285 per tonne contract price for first quarter announced with 2016 full-year earnings, as spot prices had begun to fall from their November 2016 peaks. Teck has yet to agree o...
- David Wang
- CFA
False Dawn: The Bulk Commodity Mining Rally Will Prove Short-Lived
Bulk commodity miners are overvalued. Shares of iron ore and met coal miners have rallied to levels not seen since 2014, when Chinese steel demand peaked. In effect, the market appears to be extrapolating the 2016 Chinese demand growth trajectory far into the future. We’ve updated our forecasts to account for greater supply disruptions, lower Chinese supply, and higher freight and maintenance capital costs, but we expect roughly 50% downside from recent iron ore prices around USD 80 per tonne ...
- David Wang
- CFA
Weaker Chinese infrastructure activity will weigh on Teck's profits.
Teck posted tremendous cash flow gains in 2016 due to higher metallurgical coal prices, but we expect prices will drop precipitously through 2017 as the drivers of the recent rally abate. Our USD 9 (CAD 12) per share fair value estimate for Teck remains intact. Prices for hard coking coal rose more than 250% from their lows of $81 per metric ton in first quarter of 2016 to $200 in the fourth quarter. Prices continued to rise in first-quarter 2017, with Teck signing contracts at $285 per metric ...
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