January 4, 2011 @ 2:31 pm | Leading Indicators |
Local officials are saying that the floods in the northern Australian state of Queensland have reached “biblical proportions.” The floods, a result of the wettest spring on record, have struck an area bigger than France and Germany combined. Flooding from six rivers...
December 16, 2010 @ 2:03 pm | Update |
Reporting fiscal fourth quarter earnings December 15 before the market opened in New York, Joy Global (JOYG) beat analyst earnings expectations by 23 cents a share with quarterly earnings of $1.39. Revenue of $1.05 billion, up 9% from the fourth quarter of fiscal...
October 20, 2010 @ 1:08 pm | Leading Indicators |
On October 16 China’s Ministry of Commerce said that the country could run out of medium and heavy rare earth reserves in 15 to 20 years at the current rate of production. Could this be true? Or is it simply justification for the country’s decision to cut export...
September 27, 2010 @ 12:08 pm | Leading Indicators |
It was something more than a threat but less than an actual embargo. But China seems to be putting the clamps on exports of rare earth minerals to Japan. The New York Times reported on September 23 that China had put an embargo on all exports of rare earth minerals to...
September 7, 2010 @ 3:10 pm | Update |
Investors who bid up the price of construction machinery and mining equipment stocks in anticipation of Joy Global (JOYG) earnings announcement before the New York stock market opened on September 1 should be very happy with the company’s earnings report. (For more on...
September 2, 2010 @ 2:44 pm | Leading Indicators |
It’s hard to imagine this happening with any other “product.” The price of the product drops 12% for the next quarter. And the stock market essentially shrugs it off. On a bad day for the market, August 30, when the Standard & Poor’s 500 stock index drops by...
August 26, 2010 @ 12:21 pm | Leading Indicators |
Turmoil in South Africa’s mining industry. The most immediate and obvious impact will be on global supply of the platinum group of metals. But since the big mining companies involved produce copper, gold, and other metals in their mining of platinum and palladium, the...
August 13, 2010 @ 2:00 pm | Update |
(I’m ratcheting up my vacation a notch next week for my annual summer recharge of my batteries and taking Jubak Picks completely dark for a week or so until August 24. I will resume my regular posting schedule when I return.) What was most interesting about...
August 10, 2010 @ 12:30 pm | Leading Indicators |
(I am on vacation until August 24. During that time Jubak Picks will operate on a reduced schedule of one or two posts a day.) If China is the story in coal—and I think it is since China is now the No. 1 energy consumer and uses about three times as much coal as the...
July 19, 2010 @ 4:04 pm | Update |
Thompson Creek Metals (TC), a Canadian molybdenum producer, has been saying it would do an acquisition if it found a deal the company liked. Well, I guess Thompson Creek found that deal. On July 15 the company announced that it will acquire Terrane Metals (TRX.V in...
April 16, 2010 @ 8:30 am | Breaking News, COF, Leading Indicators, You May Have Missed |
If you’d like to see somebody—lots of somebodies, if I had my wish–go to jail for their role in creating the lob al financial crisis, then $8 million looks cheap. That’s the budget for the Financial Crisis Investigation Commission. If, just for starters, some of...
April 12, 2010 @ 5:27 pm | Leading Indicators, You May Have Missed |
Forget about iron ore. It’s old news. The global explosion in demand for that commodity and the huge 80% to 100% price increase that has resulted as demand outstripped supply and in the price of stocks such as Vale (VALE), BHP Billiton (BHP), and Rio Tinto (RTP.) The...
March 4, 2010 @ 3:23 pm | Update |
I think we’ve just seen the end of the fixed long-term contract pricing system for iron ore. That pricing system may not know it’s dead yet. But right now it’s dead system walking. Brazil’s Vale (VALE) has told domestic customers that it will raise iron ore prices by...
September 22, 2009 @ 12:30 pm | JOY, Sell |
Joy Global (JOYG) has blown through my target price for June 2010 in just two months. Try as I might, I can’t juggle the fundamental numbers to come up a reason to raise that target now, so I’m going to sell these shares out of Jubak’s Picks. Joy...
July 21, 2009 @ 11:29 am | Buy |
I’m buying shares of mining equipment company Joy Global (JOYG) today on the strength of the good news from heavy equipment peer Caterpillar (CAT) in its second quarter earnngs report of July 21. Caterpillar significantly raised guidance for 2009, casting a...