Rio Tinto wants out of Grasberg now

By analyst By Frik Els While Phoenix-based Freeport McMoRan remains at loggerheads with the Indonesian government over selling a majority stake in its Grasberg mine in the remote Papua province, Rio Tinto is reported to be seeking an out sooner rather than later. Bloomberg reports Melbourne-based Rio has held talks with a number of Indonesian groups about exiting its interest in the Grasberg mine which this year is on track to produce more than 450,000 tonnes of copper (compared to Rio’s target of around 470,000 tonnes in 2017 across its operations) and a staggering 1.6m ounces of gold. Rio’s deal with Freeport was struck in 1995 and entitles Rio to a 40% share of production when certain output levels are hit. But as a result of strikes and other disruptions and as the open pit at Grasberg nears the end of its life, Rio hasn’t seen any benefit since 2014. … Continue reading

The Rich Life Part II: Confessions of a sixth-grade stock picker

By Nilus Mattive This post The Rich Life Part II: Confessions of a sixth-grade stock picker appeared first on Daily Reckoning. When your name is Nilus Lawrence Mattive III, people automatically expect you to have a silver spoon in your mouth. But I never did. Nobody in my family ever started a company, patented an invention, or wrote a movie script. My odd first name was the ONLY thing handed down from generation to generation in my family. No inheritances or trust funds to speak of here. As I explained in Part I, I was just a lower-middle-class sixth grader living in northeastern Pennsylvania. My dad was the first person to go to college on either side of the family. He worked in the human resources department at a state mental health facility. He also had a second gig at the YMCA. And my mom? After spending a few years … Continue reading

How to Prepare for the Next Market Crash

By Alexander Green This week is the 30-year anniversary of the stock market crash of 1987. Anniversaries generally mean celebrations. But it’s unlikely that anyone other than the rare short seller reached for the good champagne this week – or savors any particularly fond recollections. On October 19, 1987 – Black Monday – the Dow plunged 508 points, or 22.6%. As my friend and colleague Mark Skousen pointed out here yesterday, it was the market’s single worst day, before or since. I was a stockbroker at the time and remember it well. The market had peaked two months earlier and had since been acting a bit hinky, with wild single-day rides up and down. Still, no one knew what we were about to experience that fateful Monday morning. The market averages gapped down at the opening bell. Many stocks didn’t open at all for several minutes, as specialists on the … Continue reading

Why Weyerhaeuser Stock Is Rated a “Buy With Caution” Before Earnings

By Rob Otman Weyerhaeuser (NYSE: WY) is a large cap company that operates within the REIT industry. Its market cap is $27 billion today, and the total one-year return is 15.92% for shareholders. Weyerhaeuser stock is underperforming the market. It’s beaten down, but it reports earnings next week. So is it a good time to buy? To answer this question, we’ve turned to the Investment U Stock Grader. Our Research Team built this system to diagnose the financial health of a company. Our system looks at six key metrics… [iu-adbox] ✗ Earnings-per-Share (EPS) Growth: Weyerhaeuser reported a recent EPS growth rate of -81.25%. That’s below the REIT industry average of -13.39%. That’s not a good sign. We like to see companies that have higher earnings growth. ✓ Price-to-Earnings (P/E): The average price-to-earnings ratio of the REIT industry is 42.09. And Weyerhaeuser’s ratio comes in at 40.8. It’s trading at a … Continue reading

Interview with Korelin Economics Report: Q4 Outlook

By Jordan Roy-Byrne CMT, MFTA Jordan Roy-Byrne, Founder and Editor of The Daily Gold addresses the recent comments on the potential of tax loss selling this year. We also discuss his outlook for the metals and strategy for buying stocks in the slow market. Click Here to Learn More About & Subscribe to our Premium Service …read more Source:: The Daily Gold The post Interview with Korelin Economics Report: Q4 Outlook appeared first on Junior Mining Analyst. … Continue reading

Palladium and Rhodium Are on Fire, Is Platinum Next?

By GoldSilverWorlds 1 oz rhodium bars run about $1,455 each. Which one is the correct assessment will depend on whether the current optimism for economic growth in both developed economies and emerging markets has been well placed. Either way, investors inclined to speculate on the PGM metals have some interesting market action upon which to trade. Platinum does look remarkably underappreciated. It is hard to imagine it trading at a significant discount for too long. Auto makers should bid for whichever metal offers the lowest cost as all three are somewhat interchangeable. Platinum offers the largest and most liquid market of the group. It is widely available in a variety of coins and bars. For investors, platinum’s liquidity is a consideration. However, momentum traders may want to take a look at rhodium. It is traded in relatively tiny quantities and has a history of making big moves. Rhodium saw a … Continue reading

Gold/Silver vs. Bitcoin Comparisons: A No-Brainer… or Brainless?

By GoldSilverWorlds For most of the year, as Bitcoin soared, crashed, and soared again, cryptocurrency vs. physical gold-silver talking heads engaged each other in heated rhetoric about which of these venues is here to stay. Some of the biggest names in finance, government, and the newsletter analyst space have made comments that – to be charitable – appear less-than-fully informed. Comments like “Even though bitcoin could rise to $100,000, it’s still going to zero!” don’t offer much insight. Some other questionable assumptions: 2017 percent price change comparisons: Relating this year’s gold and silver’s price range to that of bitcoin misses an important point. Yes, bitcoin (BTC) has risen by a much greater percent, but it’s also fallen more. I don’t recall gold dropping 40% this year, which bitcoin has… on a couple of occasions. Please note: Bitcoin has no tangible, physical form. Trash-talking gold and silver as “antiquated”: Bitcoin is … Continue reading

Polyus powers on

By analyst By Frik Els Russia’s largest gold producer Polyus posted another record-breaking quarter on Thursday, with production rising 16% year-on-year to 642,000 ounces during the third quarter. Gold output for the first nine months of the year reached 1.58m ounces, an increase of 13%, and CEO Pavel Grachev said the company is confident it will meet its previously announced production guidance for 2017 of 2.075–2.125m ounces. The company has been working all its mines hard with volumes of ore mined surging 45% to 9.92m tonnes during the quarter. Ore processing was up 12% to 7.3m tonnes over the three months to end-September with throughput capacity expansion either completed or near completion, according to the company. The company is also unique in the top tier of gold miners with alluvial operations that contributed 116,000 ounces during the first nine months of the year. The Moscow-based company is set to grow … Continue reading

Crypto Is a MAJOR Bubble Right Now

By James Altucher This post Crypto Is a MAJOR Bubble Right Now appeared first on Daily Reckoning. Yes, cryptocurrencies are in a major bubble. But don’t let that word scare you away. Crypto opportunities are NEVER going away, and generational wealth WILL be made. I’m telling you the opportunity here is immense. Think, “internet 1994” — a lot of people got very rich before that bubble burst. One day soon, “B.C.” will stand for “before crypto” and “A.C.” will stand for “after crypto.” Right now we’re living in early years of “A.C.” It’s time to get ready… the world is about to change. Cryptos ARE The Natural Evolution of Currency First it was the land you owned and the resources you developed on that land (wheat, grains, etc.). Then it was metals. Gold, silver, etc. You traveled with it by fashioning it into jewelry. Too much gold equals harder to … Continue reading

Craig Hemke from TF Metals Report – Thu 19 Oct, 2017

By Cory Let’s Take A Look At Copper To The USD We have been looking at the relationship between gold and the USD but in this segment we shift focus and compare the movements in copper to the USD. Craig Hemke and I look at the charts below back 3 years when copper broke down and the USD made a major bull move. If we are seeing the inverse of this with copper moving up then the thoughts of any sustained bounce in the dollar should be reconsidered. Click here to visit Craig’s site for more metals focused commentary. Download audio file (2017_10_19-Craig-Hemke.mp3) Short Term USD – Head and Shoulders Long Term Copper Long Term USD …read more Source:: The Korelin Economics Report The post Craig Hemke from TF Metals Report – Thu 19 Oct, 2017 appeared first on Junior Mining Analyst. … Continue reading