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- Domtar: Market Responds to Upgrade
- FP Trading Desk submits: The market appears to have responded very favourably to an upgrade of Montreal-based pulp and paper maker Domtar Corp. UFS. The stock jumped after Deutsche Bank analyst Mark Wilde moved his rating from Hold to Buy, while maintaining a $24 price target on expectations that...
- External links 2009-07-29
- Potash: Restocking, More Normalized Demand Expected
- FP Trading Desk submits: With the settlement of the Indian contract with Canpotex and Belarussian Potash Co. (BPC) settled, there is an established international benchmark for potash prices. There is also a North American benchmark now that Potash Corp. POT cut its domestic pricing, according to Dundee Securities analyst...
- External links 2009-07-30
- No Summer Blahs for Copper
- FP Trading Desk submits: Copper prices tend to take a dip in the summer months as demand dries up, but so far China's unprecedented stockpiling of the metal has seen copper buck that trend. "Although we still expect weakness from current prices of $2.50 per pound, we have been...
- External links 2009-08-02
- BofA Merrill Lynch Boosts Metals Outlook
- FP Trading Desk submits: Bank of America Merrill Lynch BAC is growing more bullish on metals and the global economy, hiking its 2009 and 2010 price forecasts for aluminum, copper, nickel and zinc. “The sharp price gains in metals were influenced by an anticipation that the global economy will...
- External links 2009-08-06
- Denison Mines Risk Profile Still High
- FP Trading Desk submits: Uranium company Denison Mines Corp. DNN has cleaned up its balance sheet after securing a strategic investor and completing an equity offering. But RBC Capital Markets Adam Schatzker wrote that the operations remain very risky going forward. His big concern is that the company could...
- External links 2009-08-14
- Brazil Positioned to Become Next Major Potash Player
- FP Trading Desk submits: As one of the world’s largest agriculture-centric economies but the second largest importer of potash, Brazil is positioned to become the next major global producer of the fertilizer component that is essential for large-scale farming. That is the conclusion of a new report from Wellington...
- External links 2009-08-19
- Caterpillar Sales Woes Continued in July
- FP Trading Desk submits: Sales woes at Caterpillar Inc. CAT continued in July as machine sales dropped 48% worldwide, suggesting investors should not get ahead of themselves when it comes to the machinery sector. The global year-over-year decline follows a similar 47% drop in June. The losses are especially...
- External links 2009-08-23
- Brazil's Vale Over-Stimulated in China
- FP Trading Desk submits: Brazilian mining giant Vale SA VALE took advantage of China's stimulus spending to ship massive amounts of iron ore into the country in the second quarter, according to HSBC Securities analyst Jordi Dominguez. The product was needed as Chinese steelmakers ramped up production. But in...
- External links 2009-08-25
- Copper Prices Up on Speculation: This Shouldn't Last
- FP Trading Desk submits: While China's apparent consumption of copper has increased almost 50% in the first half of 2009, the effects of stocking and destocking as well as shorting mean the country's growing appetite for the metal will still likely pull back moving forward, a new note says....
- External links 2009-08-25
- Commodity Correction Risk Rising
- FP Trading Desk submits: Recession? What recession? Commodity prices have been on a roll for months. Traders have focused on Chinese restocking and ignored the, shall we say, plentiful global inventories. But the party could end soon. RBC Capital Markets analysts Fraser Phillips and Adam Schatzker wrote that the...
- External links 2009-08-30
- Viterra Q3 Earnings Preview: Mixed Bag
- FP Trading Desk submits: Canadian agribusiness Viterra Inc. (VTRAF.PK) does not report its third quarter results until Sept. 10, but UBS figures now is as good a time as any to re-evaluate the value of the company and give investors a sense of what to expect next month. "Based...
- External links 2009-08-30
- Market's Apathy Towards Tenke Makes Lundin Shares Undervalued
- FP Trading Desk submits: The market is assigning almost no value to Lundin Mining Corp.'s (LUNCF.PK) 25% interest in the Tenke Fungurume project in Democratic Congo, leaving shares in the copper miner undervalued and full of upside, says RBC Capital Markets analyst H. Fraser Phillips. With short-term prospects for...
- External links 2009-08-30
- Aluminum: Better Days Ahead
- FP Trading Desk submits: Aluminum has been a serial underperformer as the entire metals sector rallied over the last several months. But the fundamentals are looking better, according to BMO Capital Markets. Economist Bart Melek wrote that demand prospects for the metal are improving, and should continue to be...
- External links 2009-08-31
- Thumbs Up for Agrium - Desjardins
- FP Trading Desk submits: Agrium Inc. AGU got the thumbs up this week from Desjardins Securities analyst John Redstone, who initiated coverage on the fertilizer company, with a BUY rating and C$75.80 price target. "Agrium is well positioned to benefit from improving fertilizer markets through its current operations...
- External links 2009-09-06
- Finning Would Benefit from Offloading U.K. Asset - UBS
- FP Trading Desk submits: Vancouver, B.C.-based Finning International Inc. (FINGF.PK), the world's largest dealer of Caterpillar CAT equipment, appears to be on an upswing, but only if it sells or downsizes its investment in its U.K. business. Fadi Chamoun, analyst with UBS, has increased earnings estimates for Finning by...
- External links 2009-09-08
- Viterra Expected to Struggle with Competing Earnings Factors
- FP Trading Desk submits: With agribusiness Viterra Inc. (VTRAF.PK) set to report its third-quarter results on Friday, Wellington West Capital Markets expects the Saskatchewawn agribusiness to struggle with competing earnings factors. Robert Winslow, analyst with Wellington West, has cut his forecasted earnings per share and EBITDA estimates for the...
- External links 2009-09-09
- Lackluster Grains Ready to Rally
- FP Trading Desk submits: The rise in commodity prices in recent months has been a boon for investors. That is unless the resource of choice is grains. But that all could change shortly, says Robert Winslow, Wellington West analyst. And if grain prices start to rise, so too will...
- External links 2009-09-15
- Commodities Get Boost from Auto Industry
- FP Trading Desk submits: With the auto industry recovering from its brutal lows early this year, Citigroup Global Markets analysts Alan Heap and Alex Tonks have dug into the implications for commodities. According to their research, the most levered commodities to the auto sector are platinum and aluminum, followed...
- External links 2009-09-18
- Inmet Mining: Las Cruces Progresses
- FP Trading Desk submits: It has been a tough slog for Inmet Mining Corp. (IEMMF.PK) as it tried to develop its Las Cruces copper project in Spain. But after overcoming some major permitting challenges, the mine is up and running. After visiting the site, Canaccord Adams analyst Orest Wowkodaw...
- External links 2009-09-18
- Potash Corp.: Analysts Predict Downward Pressure
- FP Trading Desk submits: With Potash Corp. of Saskatchewan Inc. POT lowering its 2009 earnings estimates and 2010 outlook for demand last week, analysts are expecting downward pressure on the company's shares for the rest of the year. Brian MacArthur, analyst with UBS, suggests U.S. and offshore buyers are...
- External links 2009-09-21
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