Rio Tinto (RIO), Canadian Natural Resources (CNQ), Noranda Aluminum Holding Co. (NOR), Pan American Silver (PAAS), Potash (POT), Anglo American plc (AAUKY) and Wells Fargo & Co. (WFC) had ratings and price targets on them adjusted by analysts.
Deutsche Bank initiated coverage on Pan American Silver (PAAS). They placed a "Buy" rating and price target of $31.00 on the company.
Barclays Capital upgraded Canadian Natural Resources (CNQ) from a "Equal Weight" rating to a "Overweight" rating.
Bank of America upgraded Noranda Aluminum Holding Co. (NOR) from a "Neutral" rating to a "Buy" rating.
Barclays Capital upgraded Rio Tinto (RIO) from a "Equal Weight" rating to a "Overweight" rating.
Raymond James initiated coverage on Potash (POT). They placed an "Outperform" rating on the company.
Barclays Capital downgraded Anglo American plc (AAUKY) from a "Equal Weight" rating to a "Underweight" rating.
Nomura upgraded Wells Fargo & Co. (WFC) from a "Neutral" rating to a "Buy" rating.
Showing posts with label Canadian Natural Resources. Show all posts
Showing posts with label Canadian Natural Resources. Show all posts
Monday, April 2, 2012
Tuesday, July 13, 2010
Citigroup (NYSE:C) Comments on Natural Gas Sector
With the natural gas sector under huge pressure because of extraordinary supply, prices continue to be under downward pressure from the abundance of the energy. Citigroup (NYSE:C) commented on their view of the sector and who they like within it.
“We are updating estimates to reflect actual Q2 natural gas and crude oil prices along with other fine tuning to our models. Our average FY 2010 natural gas price forecast rises back to $4.75/MMBtu (vs. $4.60 previously) and our FY2010 WTI spot oil price forecast is now $81/Bbl (vs. $82 previously). Versus consensus, APA and NBL are expected to beat estimates while Canadian Natural Resource (NYSE:CNQ), EOG Resources (NYSE: EOG) and Nexen (NYSE:NXY), in particular, are projected to miss,” said the Citigroup analysts.
“Our top sector picks are Anadarko Petroleum (NYSE:APC), Apache (NYSE:APA), CNQ and EOG,” they added.
Rumors Apache may be ready to acquire BP (NYSE:BP) assets in Alaska have the stocks moving up.
“We are updating estimates to reflect actual Q2 natural gas and crude oil prices along with other fine tuning to our models. Our average FY 2010 natural gas price forecast rises back to $4.75/MMBtu (vs. $4.60 previously) and our FY2010 WTI spot oil price forecast is now $81/Bbl (vs. $82 previously). Versus consensus, APA and NBL are expected to beat estimates while Canadian Natural Resource (NYSE:CNQ), EOG Resources (NYSE: EOG) and Nexen (NYSE:NXY), in particular, are projected to miss,” said the Citigroup analysts.
“Our top sector picks are Anadarko Petroleum (NYSE:APC), Apache (NYSE:APA), CNQ and EOG,” they added.
Rumors Apache may be ready to acquire BP (NYSE:BP) assets in Alaska have the stocks moving up.
Tuesday, May 18, 2010
Cameco (TSE:CCO) China Uranium Opportunity
Leading Canadian uranium producer Cameco Corp. (TSE:CCO)(NYSE:CCJ) should benefit strongly from the growing economic ties between Canada and China, as leaders of three Canadian provinces head to the middle kingdom to drum up even more business.
Alberta, Saskatchewan and British Columbia are represented by the contingent, and they're loaded with resources ready and available to those willing to invest in them, and China is definitely the leading country with demand for commodities at this time.
Executives from Cameco are traveling with Saskatchewan premier Brad Wall, meeting with the largest nuclear power firm in China, which is looking to expand to meet the growing energy needs of the country.
Uranium reserves in Saskatchewan account for 26 percent of global production, making the province the top choice for those needing the material for nuclear energy.
Cameco should profit greatly if some deals are struck, which is highly likely, as Canada is doing business right with the Chinese by removing bureaucracy and making quick deals ahead of their competitor nations who try to impress the world by making it hard to do business with the Chinese.
Alberta, Saskatchewan and British Columbia are represented by the contingent, and they're loaded with resources ready and available to those willing to invest in them, and China is definitely the leading country with demand for commodities at this time.
Executives from Cameco are traveling with Saskatchewan premier Brad Wall, meeting with the largest nuclear power firm in China, which is looking to expand to meet the growing energy needs of the country.
Uranium reserves in Saskatchewan account for 26 percent of global production, making the province the top choice for those needing the material for nuclear energy.
Cameco should profit greatly if some deals are struck, which is highly likely, as Canada is doing business right with the Chinese by removing bureaucracy and making quick deals ahead of their competitor nations who try to impress the world by making it hard to do business with the Chinese.
Canadian Natural Resources' (TSE:CNQ) Inflation Concerns Rising
Canadian Natural Resources Ltd (TSE:CNQ) was hammered by inflation at its last phase of its Horizon oil sands project, which came in over budget to the tune of 43 percent.
The first phase of the Horizon project cost C$9.7 billion to develop, equal to about C$80,000 per barrel of daily production. Canadian Natural President Steve Laut said he expects the second phase to be even more expensive than the first.
Laut said at an investor meeting, "The biggest concern for us is not so much what the cost is, but is there going to be escalation, can we handle the inflation that might come at us?"
With a number of their competitors like Devon Energy Corp (DVN.N), Imperial Oil Ltd (TSE:IMO) and Cenovus Energy (NYSE:CVE) starting up projects they have on hold, competition for materials, vendors and contractors with experience, could end up with prices rising even further.
To try to manage that, Laut said "we've got to have a very robust execution plan. We've to have enough flexibility that we can pull enough levers if costs start to take off on us."
The first phase of the Horizon project cost C$9.7 billion to develop, equal to about C$80,000 per barrel of daily production. Canadian Natural President Steve Laut said he expects the second phase to be even more expensive than the first.
Laut said at an investor meeting, "The biggest concern for us is not so much what the cost is, but is there going to be escalation, can we handle the inflation that might come at us?"
With a number of their competitors like Devon Energy Corp (DVN.N), Imperial Oil Ltd (TSE:IMO) and Cenovus Energy (NYSE:CVE) starting up projects they have on hold, competition for materials, vendors and contractors with experience, could end up with prices rising even further.
To try to manage that, Laut said "we've got to have a very robust execution plan. We've to have enough flexibility that we can pull enough levers if costs start to take off on us."
Wednesday, May 12, 2010
Canada Has More Natural Gas than Thought
Prior estimates of natural gas residing in Canada have been low because unconventional sources hadn't bee included in the estimates, which now are close ot 4,000 trillion cubic feet.
You can hear some of the natural gas companies groaning to know there is even more natural gas in North America, now that the United States has found huge deposits residing shale deposits.
But get too overcome by the huge numbers as recoverable natural gas in Canada, even with the overall reserves upwardly revised, stands at between 700 TCF and 1,300 TCF, according to the Canadian Society for Unconventional Gas
Even so, that's over double original estimates of 357 trillion cubic feet of marketable natural gas from conventional sources.
Canada estimates their natural gas reserves will now last the country over 100 years, including domestic consumption and exports.
You can hear some of the natural gas companies groaning to know there is even more natural gas in North America, now that the United States has found huge deposits residing shale deposits.
But get too overcome by the huge numbers as recoverable natural gas in Canada, even with the overall reserves upwardly revised, stands at between 700 TCF and 1,300 TCF, according to the Canadian Society for Unconventional Gas
Even so, that's over double original estimates of 357 trillion cubic feet of marketable natural gas from conventional sources.
Canada estimates their natural gas reserves will now last the country over 100 years, including domestic consumption and exports.
Friday, May 7, 2010
Canadian Natural Resources (TSE:CNQ) Natural Gas Gamble
Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) is implementing a contrary strategy as their competitors are, as they're going to spend about $960 million to acquire natural gas properties, rather than shore up on oil assets, which most energy companies with a large exposure to natural gas have been doing.
The company believes the price of natural gas will eventually rebound, where they will at that time reap the benefits of their acquisitions.
This is risky, as huge amounts of natural gas are available, and unless that changes, it's hard to understand what CNR thinks will happen to change the supply/demand equation.
Even if demand goes up, which is easily could, there is so much natural gas available that it's highly unlikely prices would skyrocket as a result.
The enormous amount of shale gas reserves in the U.S. make supply a major factor in any of these decisions. This could be a big mistake by Canadian Natural Resources, but over the long term anything could happen, but I don't see it at this time.
The company believes the price of natural gas will eventually rebound, where they will at that time reap the benefits of their acquisitions.
This is risky, as huge amounts of natural gas are available, and unless that changes, it's hard to understand what CNR thinks will happen to change the supply/demand equation.
Even if demand goes up, which is easily could, there is so much natural gas available that it's highly unlikely prices would skyrocket as a result.
The enormous amount of shale gas reserves in the U.S. make supply a major factor in any of these decisions. This could be a big mistake by Canadian Natural Resources, but over the long term anything could happen, but I don't see it at this time.
Wednesday, April 14, 2010
Teck Resources (TSE:TCK.B), Cline Mining (TSE:CMK) Lead Canadian Stocks Higher
Mining and Energy Sector Lead Canadian Stocks Higher
Canadian stocks enjoyed a nice rebound today after a couple day of losses, led by mining and energy companies. Leading the way in mining stocks were Cline Mining (TSE:CMK), which increased 3% and PC Gold (TSE:PKL), adding 1.2%. Agnico-Eagle Mines (TSE:AEM) growing 0.5% and Teck Resources (TSE:TCK.B) rising 0.7%.
Energy stocks got a boost from Suncor Energy (TSE:SU), which rose 1.2% and Canadian Natural Resources (TSE:CNQ) increasing by 1%.
Gold has also risen today and oil was relatively level, although gaining about 42 cents a barrel for May delivery. Gold was up over $6 an ounce as of this writing.
Canadian stocks enjoyed a nice rebound today after a couple day of losses, led by mining and energy companies. Leading the way in mining stocks were Cline Mining (TSE:CMK), which increased 3% and PC Gold (TSE:PKL), adding 1.2%. Agnico-Eagle Mines (TSE:AEM) growing 0.5% and Teck Resources (TSE:TCK.B) rising 0.7%.
Energy stocks got a boost from Suncor Energy (TSE:SU), which rose 1.2% and Canadian Natural Resources (TSE:CNQ) increasing by 1%.
Gold has also risen today and oil was relatively level, although gaining about 42 cents a barrel for May delivery. Gold was up over $6 an ounce as of this writing.
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