Alcoa Inc (NYSE:AA)‘s has announced that it is permanently closing down the Point Henry aluminum smelter and two rolling mills in Australia. The smelter will close in August and the rolling mills by the end of 2014. According to the company, the 50-year old smelter was a small operation that had no chance of becoming financially viable going forward. The two rolling mills serve the domestic and Asian can sheet markets which have been impacted by excess capacity. Alcoa Inc (NYSE:AA) stock opened at $11.76 in last trading session, and closed at $11.78, trading in the range of $11.60 – $11.84. The stock showed a positive weekly performance of 4.53%.
After a disastrous 2013 – especially for Barrick Gold Corporation (USA) (NYSE:ABX), gold and gold miners have turned it around this year. After such a great run, there’s only one thing for analysts to do: Get bullish. RBC Capital Market’s Stephen Walker, for one, upgraded Barrick Gold to Outperform from Sector Perform. He explains why he now likes Barrick Gold: We believe Barrick has the ability to Outperform peers as a result of (1) increasing free cash flow through execution on its mine plan revisions, which saw life-of-mine average grades for operating mines increase by 21% to 0.058 oz/ton from 0.048 oz/ton previously, (2) continued divestment of higher AISC assets, such as African Barrick Gold, and (3) advancement of its longer-term development projects, including Goldrush and Pascua-Lama. Barrick is trading at a forward cash flow multiple of 7x and NAV multiple of 1.25x, well below the historical industry average of 13x and Barrick’s historical average of 1.3x respectively. Barrick Gold Corporation (USA) (NYSE:ABX) shares closed at $20.98 on last trade day, by gaining 6.12%. Stock 52 week range is $13.43 – $31.60. Company’s market capitalization is $24.43 billion.
Vale SA (ADR) (NYSE:VALE) (NASDAQ:VALE)‘s stock had its “neutral” rating reaffirmed by Zacks in a report released on Thursday, AnalystRatingsNetwork reports. They currently have a $15.00 price target on the stock. Zacks‘ price target would indicate a potential upside of 2.32% from the stock’s previous close. Vale SA (ADR) (NYSE:VALE) stock finished the last session at $14.63. The EPS of the stock remained 1.17. Company’s market capitalization is $75.39 billion.
TheStreet Quant Ratings rates Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) as a hold. The company’s strengths can be seen in multiple areas, such as its attractive valuation levels, largely solid financial position with reasonable debt levels by most measures and notable return on equity. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, poor profit margins and weak operating cash flow . Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) stock opened at $11.26 in last trading session and closed at $11.28. The 52 week range of the stock is $10.63 – $19.65 and the day range was $11.11 – $11.44.
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