|
|
Companhia Vale do... Other News
A top play on the commodities supercycle
Dec 18, 2007 20:46:01
Companhia Vale do Rio Doce (RIO, news, msgs), or CVRD, is a Brazilian metals and mining company with a truly international scope. It is also one of the world's top producers of iron ore. With China growing 9%-10% per year, demand for steel -- and the iron ore that CVRD produces -- will continue to leap ahead as far as the eye can see. CVRD's financials have been solid and improving. CVRD reported earnings of 90 cents per share in the recent quarter, a 33% gain from a year ago. Trading at a forward price-earnings ratio of 9.5 and with annual earnings-per-share growth of more than 66%, CVRD's stock is a bargain. The stock is a pure commodity play and should move in lockstep with the price of its underlying commodities. These are headed in the right direction, with prices for nickel, copper and platinum all skyrocketing this year. CVRD also has the distinction of being George Soros' No. 1 stock in his quantum fund.
Related News
By Rita Nazareth Oct. 8 (Bloomberg) -- US stocks gained after Alcoa Inc. started the third-quarter earnings season with an unexpected profit and jobless ...View Full Article Read More
Kansas City travels to New York to face the Jets for the second straight season as Chiefs head coach Herm Edwards makes his second appearance against his ...View Full Article Read More
ANAHEIM, Calif. (AP) -- Ducks center Ryan Getzlaf wasn't really surprised the Minnesota Wild finally won a game in their opening-round playoff series. "We never expected to shut them down the whole series. They're a good club," Getzlaf said Wednesday following a brisk practice. After a 4-1 victory by the Wild in Minne... Read More
|
