Iron ore

Safe Bulkers, Inc. (NYSE: SB) shares have leaked 15 percent since early June, and investors should buy the dip, according to Seaport Global.   The Analyst Seaport Global's Magnus Fyhr upgraded Safe Bulkers from Neutral to Buy with a price target lifted from $3.50 to $5. The...

When it comes to steel, traders know product price movement correlates with stock price movement. Steel mills know it, too. According to Axiom’s Gordon Johnson, this understanding drove ArcelorMittal SA (ADR) (NYSE: MT) to announce a $40- to $50-ton price increase. “These guys announce...

The share prices of iron ore miner stocks are pricing in much higher iron ore prices that the market is delivering, suggesting the sector could see significant downside ahead. Axiom analyst Gordon Johnson recently derived implied iron ore prices using the current share prices of five of the world...

Iron ore investors should be prepared for a flood of new supply to come online in the next several years. According to a new report, Axiom analyst Gordon Johnson, excess seaborne supply of iron ore will jump from an estimated 37Mt in 2016 to 269Mt by 2020. Axiom has sorted through public filings of...

Shares of Cliffs Natural Resources Inc (NYSE: CLF) soared by 15 percent and hit a new 52-week high of $10.94 after the company reported its fourth quarter results. Cliffs earned $0.42 per share on revenue of $754 million. Wall Street analysts were expecting the company to earn $0.23 per share on...

China seems to have excess iron ore supply, and this “unaccounted inventory” poses “acute downside risk” to iron ore prices, Axiom’s Gordon L. Johnson said in a report. He assigned an Underweight rating on the sector and recommended short positions in Cliffs Natural...

In its Global Mining Weekly publication released Monday, Credit Suisse noted there has been a further downgrade of iron ore production. This, according to the firm, continues a trend seen throughout 2016, with its supply tracker showing output from majors rising below 2 percent year-over-year...

Rio Tinto plc (ADR) (NYSE: RIO) has seen a 23.3 percent decline in its share price since mid-April, as compared to a 14 percent decline in the ASX 100. Goldman Sachs’ Craig Sainsbury upgraded the rating on the company from Sell to Neutral, with a price target of A$43. Short-Term Positives...

Goldman Sachs has started coverage of Vale SA (ADR) (NYSE: VALE) with Neutral rating, saying that expected lower iron ore prices could offset volume growth. Vale, the world's largest iron ore producer, is in the final stages (expected for late 2016) of delivering its flagship iron ore project, S11D...

Rio Tinto plc (ADR) (NYSE: RIO) has lowered its managed WA production guidance for 2017 from ~350mt to 330–340mt, which implies largely flat production in 2016. Citi’s Heath R. Jansen upgraded the rating on the company from Sell to Neutral, while raising the price target from £20...

It may still be too early to consider buying battered steel and iron ore stocks. According to Axiom analyst Gordon Johnson, the global steel market is about to take another downward turn. Australia’s Port Hedland just set a new record for March iron ore exports at 39.5 Mmt and exports...

In a new report, Morgan Stanley analyst Menno Sanderse suggests that leading global iron ore producers borrow a page out of OPEC’s book to stimulate a recovery in prices by 2018. However, this strategy would lead to multiple years of price weakness in the short-term. The four largest...

Analysts have a bearish outlook on iron ore prices, saying that the recent surge in the prices of iron ore is "unsustainable." Citi remains bearish short-to-medium term on iron ore prices, while Axiom Capital expects the prices to come down in the second quarter. Iron ore prices...