Ivanhoe Mines Ltd (IVN), Rubicon Minerals (RBY), Uranium Resources (URRE), Joy Global Inc. (JOY), New Jersey Resources Co. (NJR), InterOil (IOC) and Regency Energy Partners LP (RGP)had ratings and price targets on them adjusted by analysts.
BMO Capital Markets upgraded Rubicon Minerals (RBY) to an "Outperform" rating.
TD Securities downgraded Ivanhoe Mines Ltd (IVN) from a "Hold" rating to a "Reduce" rating.
Dahlman Rose initiated coverage on Uranium Resources (URRE). They have a "Buy" rating and price target of $1.45 on the company.
KeyBanc upgraded Joy Global Inc. (JOY) from a "Hold" rating to a "Buy" rating.
Hilliard Lyons downgraded New Jersey Resources Co. (NJR) from a "Buy" rating to a "Neutral" rating.
Raymond James upgraded InterOil (IOC) from an "Outperform" rating to a "Market Perform" rating.
Credit Suisse initiated coverage on Regency Energy Partners LP (RGP). They have an "Outperform" rating on the company.
Showing posts with label Joy Global. Show all posts
Showing posts with label Joy Global. Show all posts
Thursday, April 5, 2012
Thursday, May 26, 2011
Joy Global (JOYG) Pushes Up on Stronger Commodity Performance
Mining equipment manufacturer Joy Global (NASDAQ:JOYG) is enjoying a boost in share price as the commodity sector has been strengthening and demand for its products and services remain strong.
The Board of Directors of Joy Global Inc. declared a quarterly common stock dividend of $0.175 per share payable 6/20/11 to shareholders of record at the close of business on 6/6/11.
Joy Global Inc., which participates in the manufacture and servicing of mining equipment for use in commodity production for coal, copper and iron ore, among others, closed Wednesday at $87.27, gaining $1.31, or 1.52 percent.
The company traded in a fairly wide range of $85.18 to $87.99. Volume was close to the 3-month daily average.
In after hours trading the company gained another $0.39, or 0.45 percent, reaching $87.66 a share.
The Board of Directors of Joy Global Inc. declared a quarterly common stock dividend of $0.175 per share payable 6/20/11 to shareholders of record at the close of business on 6/6/11.
Joy Global Inc., which participates in the manufacture and servicing of mining equipment for use in commodity production for coal, copper and iron ore, among others, closed Wednesday at $87.27, gaining $1.31, or 1.52 percent.
The company traded in a fairly wide range of $85.18 to $87.99. Volume was close to the 3-month daily average.
In after hours trading the company gained another $0.39, or 0.45 percent, reaching $87.66 a share.
Friday, October 8, 2010
Caterpillar (NYSE:CAT) to Battle Joy (Nasdaq:JOYG) and Bucyrus (Nasdaq:BUCY) in Mining Shovels Segment
After being out of the mining shovel business for several years, Caterpillar Inc (NYSE:CAT) announced it's going to enter the segment again, competing directly with market leaders Joy Global Inc (Nasdaq:JOYG) and Bucyrus International (NYSE:BUCY).
There is no doubt this category will be strong for years, as inflationary monetary policies will drive up the cost of raw materials, and emerging markets hungry for them will be pay the price to land them.
That means mining equipment like mining shovels will be hot for some time to come, as the bull commodity market continues on its long journey.
Printing money around the world has resulted in a number of currencies being debased, especially against gold, which also works strong with other commodities as well.
That means raw materials in general will continue to go up in price, generating spending from miner companies on the equipment to make them more efficient.
Confirming this is data from Bernstein Research, which says capital expenditure by mining companies will increase to record highs in 2011, growing to an estimated $113 billion. That would break the prior record of $110 billion.
The positive factor for Caterpillar and others in the industry, is this should continue to be a healthy and vibrant industry even if Western countries continue to falter, as the major growth is in emerging markets, which are going to, for the most part, continue to grow, even if the pace slows down some.
Demand for raw materials isn't near to playing out, and there will be years of robust growth and demand before it starts to level off.
Mining equipment will be among those ancillary industry profiting from that growth.
Goldman Sachs (NYSE:GS) said they see the overall expansion plans of Caterpillar to boost the sales for the company by 15 percent in 2011 and 10 percent in 2012.
There is no doubt this category will be strong for years, as inflationary monetary policies will drive up the cost of raw materials, and emerging markets hungry for them will be pay the price to land them.
That means mining equipment like mining shovels will be hot for some time to come, as the bull commodity market continues on its long journey.
Printing money around the world has resulted in a number of currencies being debased, especially against gold, which also works strong with other commodities as well.
That means raw materials in general will continue to go up in price, generating spending from miner companies on the equipment to make them more efficient.
Confirming this is data from Bernstein Research, which says capital expenditure by mining companies will increase to record highs in 2011, growing to an estimated $113 billion. That would break the prior record of $110 billion.
The positive factor for Caterpillar and others in the industry, is this should continue to be a healthy and vibrant industry even if Western countries continue to falter, as the major growth is in emerging markets, which are going to, for the most part, continue to grow, even if the pace slows down some.
Demand for raw materials isn't near to playing out, and there will be years of robust growth and demand before it starts to level off.
Mining equipment will be among those ancillary industry profiting from that growth.
Goldman Sachs (NYSE:GS) said they see the overall expansion plans of Caterpillar to boost the sales for the company by 15 percent in 2011 and 10 percent in 2012.
Wednesday, September 29, 2010
Bucyrus (Nasdaq:BUCY), Joy Global (Nasdaq:JOYG) Price Targets Raised by Jefferies
Bucyrus International Inc. (Nasdaq:BUCY) and Joy Global, Inc. (Nasdaq:JOYG) had the price target on them raised by Jefferies visiting and investigating their facilities in Wisconsin, and meeting with management.
The price target on Bucyrus, which Jefferies has at a "Buy," was raised from $70 to $80. Bucyrus closed at $71.37, down $0.23, or 0.32 percent.
Joy Global, Inc. had their price target raised from $65 to $74, and have a "Hold" on them by Jefferies. Joy closed Tuesday at $70.71, down $0.10, or 0.14 percent.
Other Wisconsin companies didn't fare quite so well with Jefferies, and they maintained their price target on Regal Beloit Corporation (NYSE:RBC) at $64, and lowered Oshkosh Corporation's (NYSE:OSK) price target from $36 to $30. Both the companies have a "Hold" on them.
The price target on Bucyrus, which Jefferies has at a "Buy," was raised from $70 to $80. Bucyrus closed at $71.37, down $0.23, or 0.32 percent.
Joy Global, Inc. had their price target raised from $65 to $74, and have a "Hold" on them by Jefferies. Joy closed Tuesday at $70.71, down $0.10, or 0.14 percent.
Other Wisconsin companies didn't fare quite so well with Jefferies, and they maintained their price target on Regal Beloit Corporation (NYSE:RBC) at $64, and lowered Oshkosh Corporation's (NYSE:OSK) price target from $36 to $30. Both the companies have a "Hold" on them.
Thursday, September 2, 2010
BHP (NYSE:BHP), Freeport (NYSE:FCX) May be Abandoning Cyclical Practices
The mining sector in general, including gold miners, seems to be moving away from cyclical business practices into more of a level approach, and majors like BHP Billiton (NYSE:BHP) and Freeport-McMoRan (NYSE:FCX) could draw a lot more investors if they continue on in that direction.
Mining and construction equipment makers like Joy Global (Nasdaq:JOYG), Bucyrus (Nasdaq:BUCY) and Caterpillar (NYSE:CAT) may also be moving more in that direction in response to the miners.
With commodities among the expected top market performers over the next decade, a number of mining companies have been also moving more toward operating as businesses that are easier to understand, and offering perks like increased dividends to their shareholders.
For miners and equipment providers, this deals with questions like managing orders in a way that could say no to some in order to extend the period of time the orders are received. That would lower the cyclical effects which have been part of the industry for so long, and provide shareholders with a more level and gradually growing share price, rather than the usual swings.
Commodity prices are of course a major factor in all this, and affect all businesses connected to the market. Extending orders over a period of time would also help in that regard, as it could offer an average price over a longer period of time that would also be level.
If all businesses involved with mining and mining equipment move in this direction, it would result in a much more stable and predictable environment, which would be attractive to investors and more easy to manage for the companies.
Mining and construction equipment makers like Joy Global (Nasdaq:JOYG), Bucyrus (Nasdaq:BUCY) and Caterpillar (NYSE:CAT) may also be moving more in that direction in response to the miners.
With commodities among the expected top market performers over the next decade, a number of mining companies have been also moving more toward operating as businesses that are easier to understand, and offering perks like increased dividends to their shareholders.
For miners and equipment providers, this deals with questions like managing orders in a way that could say no to some in order to extend the period of time the orders are received. That would lower the cyclical effects which have been part of the industry for so long, and provide shareholders with a more level and gradually growing share price, rather than the usual swings.
Commodity prices are of course a major factor in all this, and affect all businesses connected to the market. Extending orders over a period of time would also help in that regard, as it could offer an average price over a longer period of time that would also be level.
If all businesses involved with mining and mining equipment move in this direction, it would result in a much more stable and predictable environment, which would be attractive to investors and more easy to manage for the companies.
Thursday, June 3, 2010
Joy Global (NASDAQ:JOYG) Clobbers Street Estimates
Joy Global (NASDAQ:JOYG) performed much stronger than analysts expected, as commodity demand drove up demand for mining equipment.
Earnings for the second quarter came to $120.4 million, or $1.15 a share, which was almost the same as last year's second quarter where they generated $120.5 million, or $1.17 a share. Analysts had been looking for earnings of 77 cents a share.
Revenue dropped 3 percent to $896 million, down slightly from the $924 million last year, but still far above expectations of $754.78 million.
Mike Sutherlin, President and Chief Executive Officer, said, “Our results for the second quarter were again exceptional under current market conditions, and reflect improved fundamentals in our markets combined with our continued focus on strategy and execution. Although all regions showed gains, it was especially encouraging to see order rate improvement return to North America, as these customers pursue strong global demand for metallurgical quality coal."
Guidance was also increased for earnings and sales, with earnings for 2010 projected to grow to $3.85 to $4.00 a share, up from previous estimates of $2.85 to $3.05 a share.
Sales guidance for the entire fiscal year of 2010 increased to $3.3 billion to $3.4 billion, up from the prior sales estimate of $2.8 billion to $3.0 billion.
Earnings for the second quarter came to $120.4 million, or $1.15 a share, which was almost the same as last year's second quarter where they generated $120.5 million, or $1.17 a share. Analysts had been looking for earnings of 77 cents a share.
Revenue dropped 3 percent to $896 million, down slightly from the $924 million last year, but still far above expectations of $754.78 million.
Mike Sutherlin, President and Chief Executive Officer, said, “Our results for the second quarter were again exceptional under current market conditions, and reflect improved fundamentals in our markets combined with our continued focus on strategy and execution. Although all regions showed gains, it was especially encouraging to see order rate improvement return to North America, as these customers pursue strong global demand for metallurgical quality coal."
Guidance was also increased for earnings and sales, with earnings for 2010 projected to grow to $3.85 to $4.00 a share, up from previous estimates of $2.85 to $3.05 a share.
Sales guidance for the entire fiscal year of 2010 increased to $3.3 billion to $3.4 billion, up from the prior sales estimate of $2.8 billion to $3.0 billion.
Wednesday, June 2, 2010
Goldman Sachs (NYSE:GS) Upgrades Joy Global (Nasdaq:JOYG), Surges 8 Percent
The upgrade of Joy Global (Nasdaq:JOYG) by Goldman Sachs (NYSE:GS) pushed the mining-equipment manufacturer up over 8 percent on the day, up to $52.50, a gain of $4.24 or 8.77% as of 4:04PM EDT.
What was important about this wasn't the upgrade, which will always give a quick boost to a company, but the reason behind the upgrade, which in the case of Goldman Sachs for Joy Global, makes a lot of sense.
The reasoning relates to capex or capital expenditures the mining industry around the world has committed to spending on new equipment this year.
Goldman estimates it'll rise as high as 30 percent in 2010.
As with most others watching the markets and economics, concerns over China and the sovereign debt of the European Union could easily dampen those estimates, which a lot of analysts in other sectors have chosen to ignore or consider irrelevant.
But until the numbers come in, it isn't a surety as to how deeply these latest challenges will effect any industry, including those manufacturing mining equipment like Joy Global does.
What was important about this wasn't the upgrade, which will always give a quick boost to a company, but the reason behind the upgrade, which in the case of Goldman Sachs for Joy Global, makes a lot of sense.
The reasoning relates to capex or capital expenditures the mining industry around the world has committed to spending on new equipment this year.
Goldman estimates it'll rise as high as 30 percent in 2010.
As with most others watching the markets and economics, concerns over China and the sovereign debt of the European Union could easily dampen those estimates, which a lot of analysts in other sectors have chosen to ignore or consider irrelevant.
But until the numbers come in, it isn't a surety as to how deeply these latest challenges will effect any industry, including those manufacturing mining equipment like Joy Global does.
Saturday, May 15, 2010
Joy Global (Nasdaq:JOYG) Plunges On Export Concerns
The economic mess in Europe continues to pull down manufacturers, and Joy Global (Nasdaq:JOYG) dropped over 7 percent on Friday to $50.59, although they've gained some of that back in after hours trading.
What driving the prices of Joy Global and competitor Caterpillar (NYSE:CAT), is the impact the bailout of the socialist, welfare nations in Europe is having on the euro, which has resulted in the U.S. dollar strengthening against it, wreaking havoc on earnings, which are under pressure.
There is nothing that can change the collapsing euro, and as the money is poured into the European nations, it'll continue to fall in value, with a growing number of analysts and economists thinking it won't survive in the years ahead.
Joy Global is especially vulnerable to these circumstances because they do close to 50 percent of their business overseas.
This will unfortunately change the fortunes of the company, which has a tremendous year, with a range of $27.92 - $65.93 for its shares.
What driving the prices of Joy Global and competitor Caterpillar (NYSE:CAT), is the impact the bailout of the socialist, welfare nations in Europe is having on the euro, which has resulted in the U.S. dollar strengthening against it, wreaking havoc on earnings, which are under pressure.
There is nothing that can change the collapsing euro, and as the money is poured into the European nations, it'll continue to fall in value, with a growing number of analysts and economists thinking it won't survive in the years ahead.
Joy Global is especially vulnerable to these circumstances because they do close to 50 percent of their business overseas.
This will unfortunately change the fortunes of the company, which has a tremendous year, with a range of $27.92 - $65.93 for its shares.
Wednesday, March 3, 2010
Joy Global (NASDAQ:JOYG) Raises Guidance
Joy Global Raises Guidance
Joy Global (NASDAQ:JOYG) received a nice boost today after it raised its guidance, driving its shares higher, even though profits were lower than expected.
In their first fiscal quarter, the mining equipment manufacturer had its net profit fall by 11 percent to $76.2 million, or 73 cents a share. Last year profits came in a $85.7 million or 73 cents share.
The good news there was Joy Global beat the street consensus of 64 cents a share, giving it good news there as well, even though profits were down.
Where the guidance of Joy Global was increased was for its annual target, which originally stood at $2.85 a share, but now has increased by 20 cents a share to $3.05a share for the year.
The increased guidance was largely based on a huge increase of equipment orders of 22 percent for the first quarter, which will equal about $808 million in contrast to the same quarter last year of orders worth $684 million.
Joy Global Raises Guidance
Joy Global (NASDAQ:JOYG) received a nice boost today after it raised its guidance, driving its shares higher, even though profits were lower than expected.
In their first fiscal quarter, the mining equipment manufacturer had its net profit fall by 11 percent to $76.2 million, or 73 cents a share. Last year profits came in a $85.7 million or 73 cents share.
The good news there was Joy Global beat the street consensus of 64 cents a share, giving it good news there as well, even though profits were down.
Where the guidance of Joy Global was increased was for its annual target, which originally stood at $2.85 a share, but now has increased by 20 cents a share to $3.05a share for the year.
The increased guidance was largely based on a huge increase of equipment orders of 22 percent for the first quarter, which will equal about $808 million in contrast to the same quarter last year of orders worth $684 million.
Joy Global Raises Guidance
Friday, December 18, 2009
Joy Global (Nasdaq:JOYG) Fourth Quarter Results
Joy Global (Nasdaq: JOYG) is a manufacturer of mining equipment, and their fourth quarter results show the company has a solid ending to the year, and a decent 2009 in general.
Earnings per share for the year gained a nice 28 percent for 2009, and that was net sales increasing by only 5 percent.
What that tells us is Joy Global had some strong backlog o forders which helped them during these more difficult economic times, where overall mining equipment orders have been drying up.
Another positive for the company is they greatly increase their supply chain management, and were able to streamline costs nicely, which could set them up for nice profits going forward once a real recovery begins to happen.
Operating margins for 2009 endd at 20 percent, a great performance when bookings were down for mining equipment. Again, that was a testament to great cost-cutting measures.
Even with all the backlog and great performance, things remain tenuous for the time, as orders for new mining equipment have plunged by 74 percent from last year at the same time, making it tough going forward into 2010 for Joy Global.
If it wasn't for aftermarket products things would have been far more dismal, as original equipment bookings were almost non-existent for the company over the last year.
Earnings per share for the year gained a nice 28 percent for 2009, and that was net sales increasing by only 5 percent.
What that tells us is Joy Global had some strong backlog o forders which helped them during these more difficult economic times, where overall mining equipment orders have been drying up.
Another positive for the company is they greatly increase their supply chain management, and were able to streamline costs nicely, which could set them up for nice profits going forward once a real recovery begins to happen.
Operating margins for 2009 endd at 20 percent, a great performance when bookings were down for mining equipment. Again, that was a testament to great cost-cutting measures.
Even with all the backlog and great performance, things remain tenuous for the time, as orders for new mining equipment have plunged by 74 percent from last year at the same time, making it tough going forward into 2010 for Joy Global.
If it wasn't for aftermarket products things would have been far more dismal, as original equipment bookings were almost non-existent for the company over the last year.
Subscribe to:
Posts (Atom)