Mensajepor Chulete » Jue Feb 23, 2017 1:24 pm
Los fundamentos siguen impecables:
Vale Q4 results show a $525M net profit vs. an $8.57B net loss a year earlier, and adjusted EBITDA more than tripling to $4.77B from $1.39B a year ago.
For the full year, Vale reported net profit of $3.98B, aided by higher prices and record iron ore production, a huge swing from a $12.13B loss in 2015.
The company sees the global iron ore price averaging above $80/metric ton in 2017, on the back of increasing steel demand and a smaller rise in new production entering the market, Executive Director of Ferrous Minerals Peter Poppinga says.
Bernstein's Paul Gait believes Vale has reached an inflection point, as "cash generation and rapid de-gearing is the agenda henceforth, and we believe that the positive results today should lend further weight to this argument."