Analysts Conflicted on These Materials Names: DuPont de Nemours (NYSE: DD), Freeport-McMoRan (NYSE: FCX) and Vale SA (NYSE: VALE)
DuPont de Nemours (DD)
In a report issued on April 23, Arun Viswanathan from RBC Capital maintained a Buy rating on DuPont de Nemours, with a price target of $89.00. The company’s shares closed last Friday at $76.81.
According to TipRanks.com, Viswanathan is a 5-star analyst with an average return of 12.7% and a 66.7% success rate. Viswanathan covers the Basic Materials sector, focusing on stocks such as Sherwin-Williams Company, Axalta Coating Systems, and Berry Global Group.
Currently, the analyst consensus on DuPont de Nemours is a Moderate Buy with an average price target of $85.43.
Apr 20 2021, 6:34 PM
April 20 2021, 7:35 AM
April 20 2021, 6:34 PM
(Bloomberg) The worldâs top two iron ore miners struggled to keep up with strong Chinese demand in the first quarter of 2021, hit by operational challenges and weather disruptions, in a positive sign for prices that are already at decade highs.
(Bloomberg) The worldâs top two iron ore miners struggled to keep up with strong Chinese demand in the first quarter of 2021, hit by operational challenges and weather disruptions, in a positive sign for prices that are already at decade highs.
Brazilâs Vale SA churned out less ore than expected last quarter after lower productivity at one mine and a ship loader fire, with its recovery from an early-2019 tailings dam disaster proving a little slower than expected. Rio Tinto Groupâs shipments were disrupted by wetter-than-average weather at its Pilbara operations in Western Australia.
Iron ore price surges to 10-year high after Vale, Rio miss on output
Port of Qinqdao, China. Stock image.
Iron ore prices jumped more than 4% on Tuesday, extending gains spurred by improved steel profit margins in China and disappointing output figures from Rio Tinto and Vale.
According to Fastmarkets MB, Benchmark 62% Fe fines imported into Northern China (CFR Qingdao) were changing hands for $189.61 a tonne on Tuesday, up 4.29% from the previous day – the highest level since 2011.
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The high-grade Brazilian index (65% Fe fines) also advanced to a record high of $222.80 a tonne.
Rio Tinto’s new CEO Stausholm navigates tough first quarter
Rio Tinto lifted its iron ore shipments, battled wet weather and labour shortages and escalated efforts to repair broken relationships with traditional owners from the Pilbara to Arnhem Land during a critical first quarter for new chief executive Jakob Stausholm.
While Mr Stausholm has been touring the country striving to restore trust following the disastrous destruction of the Juukan Gorge Indigenous rock shelters last year, Australia’s second-largest miner increased exports of its top commodity, the steel-making ingredient iron ore, by 7 per cent from the same time last year.
Rio shipped 77.8 million tonnes of iron ore in the three months to March 31, its quarterly review said on Tuesday, as Chinese industrial activity drove greater demand and global economic growth continued to rebound.