- Write by:
-
Wednesday, October 26, 2022 - 14:41:59
-
376 Visit
-
Print
Mining News Pro - Inflation will also impact results, which continued at an annualized 8.2% rate for the quarter, resulting in increased operating mine costs.
According to Mining News Pro - Against a testing backdrop for base metals equities, analysts will be hawkeyed during the upcoming third-quarter earnings reporting, looking for key metrics such as cash flow and cash on hand amid an unforgiving funding environment.
According to Haywood Capital Markets analyst Pierre Vaillancourt, considering the economic prospects and pressure on the equities in its coverage universe, Haywood remains cautious about the sector.
“Following our metals price revisions, we have adjusted our earnings and cash flow estimates lower, impacted by higher costs and lower realized prices,” the analyst wrote in a note to clients on Tuesday.
Haywood expects results to reflect weakening metals price trends, with earnings impacted by further negative provisional price adjustments, as was generally seen in the June-quarter earnings reports.
During the September quarter, base metals equities continued to fall, as reflected in the Global X Copper Miners ETF retracting 7% quarter-on-quarter, and the S&P/TSX Global Metals index falling 2.2%, compared with the S&P 500, which fell 5.3% over the same period. The S&P/TSX 500 composite index dropped 2.2%.
Inflation will also impact results, which continued at an annualized 8.2% rate for the quarter, resulting in increased operating mine costs.
“On the other hand, we note that operating conditions and mine sequencing were more favourable for some companies, which will help mitigate the impact of inflation and declining metals prices,” Vaillancourt said.
Base metals prices have eased considerably in 2022, as demand has weakened while the dollar has strengthened.
Short Link:
https://www.miningnews.ir/En/News/622282
Zimbabwe’s President Emmerson Mnangagwa has re-appointed Winston Chitando as the southern African nation’s mines ...
Anglo American Plc said it is has received an unsolicited non-binding combination proposal from BHP Group.
Toronto-listed miner OceanaGold Corp said on Wednesday it will raise 6.08 billion pesos ($106 million) through an ...
A key measure of Chinese copper demand just sank to zero, another indication that global prices are not balanced with ...
A new report by IDTechEx states that investing in e-haul trucks could result in major savings for miners due to the ...
Canadian miner First Quantum Minerals (TSX: FM) believes it will be able to take the already mined 121,000 tonnes of ...
Canadian miner First Quantum Minerals said on Tuesday that it has cut its debt by $1.14 billion in the first quarter.
Canada and its Five Eyes Alliance partners are working on put forward a response to tackle the price manipulation of ...
Australia’s Fortescue on Wednesday logged a larger-than-expected decline in third-quarter iron ore shipments, following ...
No comments have been posted yet ...