SA News • Sep. 12, 2013
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Sep. 12, 2013, 2:58 PM
- Oppenheimer analysts are believers in the materials sector, citing increasing evidence that the global economy is modestly improving from its recent lethargic pace of growth, particularly in emerging markets.
- Strategas isn't so sure; despite some stronger equity performance in recent weeks, it sees the persistence of cyclical weakness in emerging economies and the apparent forming of a structural consolidation in global commodities complex; it favors companies with a higher domestic revenue profile over those with a broader global footprint.
- Vulcan Materials (VMC) gets just 1% of its revenue overseas, while Airgas (ARG) has just 2%; those least exposed to the U.S. economy include Newmont Mining (NEM), which gets all of its revenue abroad, and International Flavors (IFF) and Owens-Illinois (OI), which each get 23%-24% of sales at home.
- ETFs: XLB, XME, EMT, PICK, JUNR. MSXX.
Sep. 11, 2013, 10:56 AM
- BofA Merrill Lynch sees huge contrarian value in global mining and steel companies while investors remain underweight in their holdings.
- A stronger global economy is coming, BAML says, noting China has been restocking iron ore, the pace of copper destocking in the country has slowed, and global steel prices have been rising.
- The top buys from the firm: ATI in steel, CNX in coal, ABX and KGC in precious metals, KALU in aluminum, and SCCO in copper, plus diversified miners FCX and VALE.
- ETFs: XME, XLB, EMT, PICK, JUNR, MSXX.
Sep. 10, 2013, 10:26 AM
- The funds being closed make up just 4% of total assets under management, despite representing half of EGShares product line.
- "We have identified an opportunity to streamline our existing offering" founder Robert Holderith stated in a press release.
- Affected funds include: AGEM, FGEM, GGEM, HGEM, IGEM, LGEM, OGEM, QGEM, TGEM, UGEM, VGEM, EMT.
- Competing funds: EEM, VWO, EMFN, IPS, IRY, AXID, EMMT, EMEY, AXIT, AXTE, DBU, EMDI, ECON, JUNR
May. 30, 2013, 11:47 AMPrices of iron ore hit a seven-month low today, and are down 30% since hitting a year high in February, as prices get hit by a demand slowdown in China and a glut of supply. Analysts are predicting more declines, with Westpac projecting iron ore prices to drop to as low as $85 a ton by the end of September. Liberum Capital notes that its channel checks show the price may fall below $90 a ton. "The market is flush with product at the moment," says RBS Morgans resources analyst James Wilson. "Pricing power has switched from the iron-ore miners to the steel mills." | 7 Comments
Jun. 12, 2012, 5:07 AMSome mining companies (including BHP and RIO) that have relied mostly on surface mining are now going deeper, allowing them to continue using mining, processing and transport infrastructure even after the surface deposits are depleted. New technologies and the high price of commodities are making the unusually-deep mines financially feasible, but going deeper isn't without its risks. | 9 Comments
Dec. 4, 2011, 4:56 AM
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The EGShares Emerging Markets Metals & Mining exchange-traded fund (ETF) invests in companies whose revenues are generated in the areas of Diversified Metals & Mining, Gold, Steel, Aluminum or Precious Metals & Minerals. The Dow Jones Emerging Markets Metals & Mining Titans Index focuses on the largest publicly-traded mining companies involved in industrial and precious metals exploration, extraction and production within the emerging world. The fund seeks to achieve its investment objective of total return by investing in the constituent securities of the index. This sector exposure is not based upon a sector classification by the Global Industry Classification Standard (GICS).
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