By Tim Melvin
Investor Place
As we move further into earnings season we are starting to see some of the reports from mining stocks, and it is still a messy picture. If you make your money digging stuff out of the ground, you’re having a pretty tough go of it in 2014.
Although there are signs and whispers of improvements, that’s not showing up in the earnings numbers just yet. These basic resources need a stronger economy that worked off excess supplies as well as a reduction in capacity that creates firmer pricing, and so far none of that is happening to any great degree.
The global economy may be better than it was a few years ago, but it’s still nowhere near strong enough to help the mining companies see any real profit growth. Of course, the more the short picture is bleak, the more interested my contrarian value mind is intrigued and interested.