Teck (TCK) (BHP) (PAA) (SM) (AKS) (PQ) (SVM) (TRI) Ratings, Price Targets

Teck Resources Limited (NYSE: TCK), BHP Billiton (NYSE: BHP), Plains All American (NYSE: PAA), SM Energy (NYSE: SM), AK Steel Holding Co. (NYSE: AKS), PetroQuest Energy, Inc. (NYSE: PQ), Silvercorp Metals (NYSE: SVM) and Thomson Reuters Co. (NYSE: TRI) had ratings and price targets on them adjusted by analysts.

Plains All American (PAA) had its “Buy” rating reiterated by Wunderlich.

SM Energy (NYSE: SM) had its “buy” rating reiterated by Canaccord Genuity.

BHP Billiton (BHP) had its price target lowered by Dahlman Rose from $116.00 to $96.00. They have a “Buy” rating on the company.

Teck Resources Limited (TCK) had its price target raised by Dahlman Rose from $47.00 to $52.00. They have a “Buy” rating on the company.

AK Steel Holding Co. (AKS) was downgraded by Citigroup (NYSE:C) from a “Buy” rating to a “Neutral” rating. They have a price target of $9.00 on the company, down from $12.00.

PetroQuest Energy, Inc. (PQ) was downgraded by FBR Capital from an “Outperform” rating to a “Market Perform” rating.

Silvercorp Metals (SVM) was downgraded by UBS AG (NYSE:UBS) to a “Neutral” rating.

Thomson Reuters Co. (TRI) was downgraded by TD Securities to a “Buy” rating.

BHP (BHP) (PBCT) (PC) (PHH) (BKS) (BMR) Downgraded

BHP Billiton (NYSE: BHP), People’s United Financial (NASDAQ: PBCT), Panasonic (NYSE: PC), PHH (NYSE: PHH), Barnes & Noble (NYSE: BKS) and BioMed Realty Trust (NYSE: BMR) were downgraded by analysts.

People’s United Financial (PBCT) was downgraded by Janney Montgomery Scott from a “Buy” rating to a “Neutral” rating.

Panasonic (PC) was downgraded by Barclays Capital (NYSE:BCS) to an “Underweight” rating.

PHH (PHH) was downgraded by Zacks Investment Research from a “Neutral” rating to an “Nnderperform” rating.

BHP Billiton (BHP) was downgraded by Zacks Investment Research from a “Neutral” rating to an “Underperform” rating.

Barnes & Noble (BKS) was downgraded by Zacks Investment Research from a “Neutral” rating to an “Underperform” rating.

BioMed Realty Trust (BMR) was downgraded by Raymond James (NYSE:RJF) from a “Strong-buy” rating to an “Outperform” rating.

Cameco (CCJ) (BHP) (ALJ) (HNR) (WLL) (AGU) Ratings, Price Targets

Cameco (NYSE: CCJ), BHP Billiton (NYSE: BHP), Alon USA Energy (NYSE: ALJ), Harvest Natural Resources (NYSE: HNR), Whiting Petroleum (NYSE: WLL) and Agrium (NYSE: AGU) ratings and price targets.

Cameco (CCJ) was downgraded by Zacks Investment Research from a “Neutral” rating to an “Underperform” rating.

BHP Billiton (BHP) was downgraded by Zacks Investment Research from a “Neutral” rating to an “Underperform” rating.

Alon USA Energy (ALJ) was downgraded by Zacks Investment Research from a “Neutral” rating to an “Underperform” rating.

Harvest Natural Resources (HNR) was downgraded by Global Hunter Securities to an “Accumulate” rating.

Whiting Petroleum (WLL) was downgraded by Susquehanna from a “Positive” rating to a “Neutral” rating. They have a price target of $56.00 on the company.

Agrium (AGU) was upgraded by BMO Capital Markets from a “Market Perform” rating to an “Outperform” rating.

Cabot (COG) (BRS) (CKH) (BBL) (AA) (ENI) Ratings, Price Targets

Cabot Oil & Gas (NYSE: COG), Bristow Group Inc. (NYSE: BRS), Seacor (NYSE: CKH), BHP Billiton (NYSE: BBL), Alcoa Inc. (NYSE: AA) and Enersis (NYSE: ENI) ratings and price targets.

Cabot Oil & Gas (COG) had its “buy” rating reiterated by Canaccord Genuity.

Bristow Group Inc. (BRS) is now covered by Credit Suisse (NYSE:CS). They have an “outperform” rating and a price target of $55.00 on the firm.

Seacor (CKH) is now covered by Credit Suisse. They have a “neutral” rating and a price target of $100.00 on the firm.

BHP Billiton (BBL) was downgraded by Zacks Investment Research from a “neutral” rating to an “underperform” rating.

Alcoa Inc. (AA) had its price target lowered by Stifel Nicolaus from $17.50 to $14.65. They have a “buy” rating on the firm.

Enersis (ENI) was downgraded by Zacks Investment Research from a “neutral” rating to an “underperform” rating.

BHP (BHP) (FDX) (KEY) (CIG) (DRE) Upgraded

BHP Billiton (NYSE: BHP), FedEx (NYSE: FDX), KeyBanc (NYSE: KEY), Companhia Energetica de MinasGerais (NYSE: CIG) and Duke Realty Co. (NYSE: DRE) were upgraded by analysts.

BHP Billiton (BHP) was upgraded by Goldman Sachs (NYSE:GS) from a “Neutral” rating to a “Buy” rating.

FedEx (FDX) was upgraded by Lazard Capital from a “Neutral” rating to a “Buy” rating.

KeyBanc (KEY) was upgraded by Susquehanna from a “Neutral” rating to a “Positive” rating.

Companhia Energetica de MinasGerais (CIG) was upgraded by JPMorgan Chase & Co. (NYSE:JPM) from a “Neutral” rating to an “Overweight” rating.

Duke Realty Co. (DRE) was upgraded by Robert W. Baird from a “Neutral” rating to an “Outperform” rating. They have a price target of $14.00 on the company.

BHP (BHP) (TGI) (CALX) (TPX) (AIXG) (WRB) Downgraded

BHP Billiton (NYSE: BHP), Triumph Group, Inc. (NYSE: TGI), Calix Networks (NASDAQ: CALX), Tempur-Pedic International Inc. (NYSE: TPX), Aixtron AG (NASDAQ: AIXG) and W.R. Berkley Co. (NYSE: WRB) were downgraded by analysts.

BHP Billiton (BHP) was downgraded by HSBC (NYSE:HBC) from an “Overweight” rating to a “Neutral” rating.

Triumph Group, Inc. (TGI) was downgraded by Standpoint Research from a “Buy” rating to a “Hold” rating.

Calix Networks (CALX) was downgraded by UBS AG (NYSE:UBS) from a “Buy” rating to a “Neutral” rating.

Tempur-Pedic International Inc. (TPX) was downgraded by Standpoint Research from a “Buy” rating to a “Hold” rating.

Aixtron AG (AIXG) was downgraded by Kaufman Brothers from a “Buy” rating to a “Hold” rating. They have a price target of $14.00 on the company, down from $22.00.

W.R. Berkley Co. (WRB) was downgraded by Standpoint Research from a “Buy” rating to a “Hold” rating.

BHP (BHP) (TXN) (BTUI) (MAR) (MRO) (VMED) Downgraded

BHP Billiton (NYSE: BHP), Texas Instruments (NYSE: TXN), BTU International (NASDAQ: BTUI), Marriott (NYSE: MAR), Marathon Oil Co. (NYSE: MRO) and Virgin Media (NASDAQ: VMED) downgraded by analysts.

Texas Instruments (TXN) was downgraded by Sterne Agee from a “Buy” rating to a “Neutral” rating.

BHP Billiton (BHP) was downgraded by Credit Suisse (NYSE:CS) from an “Outperform” rating to a “Neutral” rating.

BTU International (BTUI) was downgraded by Feltl & Co. from a “Hold” rating to a “Sell” rating. They have a price target of $5.00 on the company, down from $8.00.

Marriott (MAR) was downgraded by Bank of America (NYSE:BAC) from a “Buy” rating to a “Neutral” rating. They have a price target of $34.00 on the company.

Marathon Oil Co. (MRO) was downgraded by Credit Suisse from an “Outperform” rating to a “Neutral” rating. They have a price target of $36.00 on the company.

Virgin Media (VMED) was downgraded by Jefferies (NYSE:JEF) from a “Buy” rating to a “Hold” rating. They have a price target of $30.00 on the company, down from $33.50.

Petrohawk Energy (HK) Downgraded by Several Analysts

A number of analysts downgraded shares of Petrohawk Energy (NYSE: HK) after the massive offer for the company from BHP Billiton (NYSE: BHP).

Keybanc downgraded Petrohawk from a "Buy" rating to a "Hold" rating. They have a price target of $36 on the company.

Howard Weil downgraded the natural gas giant from an "Outperform" rating to a "Market Perform" rating.

Tudor Pickering downgraded Petrohawk to a "Hold" rating.

Wells Fargo & Co. (NYSE: WFC) downgraded Petrohawk from an “Outperform” rating to a “Market Perform” rating.

Petrohawk closed Friday at $38.17, gaining $14.68, or 62.49 percent.

Petrohawk (HK) Bid from BHP (BHP) Pushes Up (PXD) (SM) (SFY)

Shares of companies like Pioneer Natural Resources (NYSE:PXD), SM Energy (NYSE:SM) and Swift Energy (NYSE:SFY), which own acreage in Eagle Ford, got a big boost from the premium offered from BHP Billiton (NYSE:BHP) for Petrohawk (NYSE:HK).

BHP's bid of $38.75 a share, was a 60 percent premium over the Thursday close of $23.79 a share by Petrohawk. The $12.1 billion bid was an all-cash offer.

Immediate response from some analysts is this deal is more than likely specific to Petrohawk, rather than an industry consolidation trend. Even so, it is good news for some in the natural gas industry, which could benefit from possible higher valuations as a result.

Swift Energy was trading at $40.92, gaining $3.18, or 8.43 percent, as of 10:51 AM EDT. SM Energy was at $77.97, up $5.83, or 8.08 percent. Pioneer Natural Resources was trading at $92.91, up $6.82, or 7.92 percent. HK was at $28.21, jumping $14.72, or 62.66 percent.

Other companies with large exposure to natural gas were also trading up on the day. EOG Resources (NYSE:EOG) was trading at $100.98, up $4.27, or 4.42 percent. EQT Corporation was at $57.13, gaining $2.40, or 4.39 percent. Carrizo Oil & Gas was at $39.44, up $1.45, or 3.82 percent. Chesapeake Energy (NYSE:CHK) was at $32.12, soaring $1.91, or 6.32 percent.

Pioneer Natural Resources holds 310,000 acres in the Eagle Ford. SM Energy holds 250,000 acres in the Eagle Ford, and Swift Energy holds 79,000 acres in the Eagle Ford.

BHP was trading at $91.15, down $1.13, or 1.22 percent.

Coverage on (AAUKY) (BHP) (BOBE) (CEPH) (CSCO) Initiated

Coverage on Anglo American plc (NASDAQ: AAUKY), BHP Billiton ADR (NYSE: BHP), Bob Evans Farms, Inc. (NASDAQ: BOBE), Cephalon, Inc. (NASDAQ: CEPH) and Cisco Systems, Inc. (NASDAQ: CSCO) initiated by analysts.

RBS initiated coverage on Anglo American plc (AAUKY). They placed a “buy” rating on the company.

RBS initiated coverage on BHP Billiton (BHP). They placed a “buy” rating on the company.

Miller Tabak initiated coverage on Bob Evans Farms, Inc. (BOBE). They placed a “hold” rating and a price target of $35.00 on the company.

Goldman Sachs (NYSE:GS) initiated coverage on Cephalon, Inc. (CEPH). They placed a “neutral” rating and a price target of $75.00 on the company.

BGC Financial initiated coverage on Cisco Systems, Inc. (CSCO). They placed a “buy” rating and a price target of $24.00 on the company.

Big Movers (HDB) (NFG) (BHP) (OKE) (MRX) on May 6

Among the big, positive movers on Friday, May 6, were HDFC Bank Limited (HDB), National Fuel Gas (NFG), BHP Billiton Limited (BHP), Oneok (OKE) and Medicis Pharmaceutic (MRX).

HDFC Bank Limited (HDB) jumped $1.96, to close at $164.56, a gain of 1.21 percent.

National Fuel Gas (NFG) was up $1.96 on the day to close at $70.96, a gain of 2.84 percent.

BHP Billiton Limited (BHP) climbed $1.95 to close at $95.50, a gain of 2.08 percent.

Oneok (OKE) rose $1.94 to close the session at $69.48, a gain of 2.87 percent.

Medicis Pharmaceutic (MRX) was up $1.93 to end the day at $38.30, a gain of 5.31 percent.

BHP (BHP) to Double Iron Ore Production in Pilbara

With the release of an environmental review Monday BHP Billiton Ltd. (NYSE:BHP) is one step closer to more than doubling iron ore output at its properties in the Pilbara area of Western Australia.

This will be done via the development of a new harbor at Port Hedland.

Iron ore exports for the diversified miner will jump to about 150 million metric tons annually at this time to 350 million tons a year by 2020.

In environmental impact statement of BHP, released for public comment Monday, the miner said it had a goal for 240 million tons of capacity from the outer harbor, with shipping berths for eight bulk carriers.

BHP Billiton closed Monday at $97.98, falling $1.82, or 1.82 percent.

Diversified Miners (RIO) (TCK) (VALE) (BHP) Close Down as Base Metals Drop

Base metals dropped in Monday trading putting pressure on diversified mining giants Rio Tinto (NYSE:RIO), BHP Billiton (NYSE:BHP), Vale SA (NYSE:VALE) and Teck Resources, (NYSE:TCK), which all closed down.

Three-month copper on the London Metal Exchange dropped to $9,207 a ton, its lowest since March 17. It closed at $9,225 a ton from Friday's close at $9,450.

Stocks of copper in LME warehouses last rose 1,350 tons to 451,775 tons, their highest since June 2010.

Also weighing on metals, the U.S. dollar was stronger against a basket of major currencies, weakening metals demand from non-U.S. investors. European equities were down on increased talk that Greece will be forced to restructure its debt and uncertainty over a bailout for Portugal which dampened risk appetite.

Aluminium closed $2,674 from $2,690 a ton.

Zinc ended at $2,325 from $2,398 a ton. Stocks of the metal rose 50 tons to a seven-year high of 764,300 tons.

Battery material lead was down close to five percent to its lowest in over a month at $2,520 a ton. It closed at $2,528 from $2,651 a ton, while tin finished at $32,350 from $33,100 a ton and nickel ended at $25,500 a ton from $26,155.

Platinum was lower by 0.2 percent at $1,779.99 an ounce, while palladium fell 3.3 percent to $735.22.

BHP closed Monday at $97.98, falling $1.82, or 1.82 percent. Rio Tinto closed at $69.09, down $1.82, or 2.57 percent. Teck Resources ended the session at $50.68, losing $1.26, or 2.43 percent. Vale closed at $32.05, dropping $0.73, or 2.23 percent.

Diversifieds BHP (BHP) (VALE) (RIO) (TCK) (FCX) Trade Mixed

Shares of diversified miners such as BHP Billiton (NYSE:BHP), Rio Tinto (NYSE:RIO), Vale SA (NYSE:VALE), Teck Resources (NYSE:TCK) and Freeport-McMoran (NYSE:FCX) were trading mixed Thursday, metals prices moved in various directions.

In base metals trading, May copper dropped 1.05 cents to settle at $4.284 a pound, July platinum increased $18.40 to $1,795.60 an ounce and June palladium was up $8.95 to $774.25 an ounce. May copper fell 1.05 cents to settle at $4.284 a pound.

Iron ore demand is expected to remain tight over the medium term, and over the long term should jump in response to the rebuilding needs coming from the consequences of the earthquake in Japan.

Gold for June delivery rose $16.80 to settle at $1,472.40 an ounce on the Comex division of the New York Mercantile Exchange.

Spot gold was up 1.4 percent to $1,474.30 an ounce, closing in on its record $1,476.21 set on Monday. Silver rose $1.427, or 3.6 percent, to $41.66 an ounce.

The collapsing U.S. dollar, tightening in China, sovereign debt crisis in Europe, unrest in the Middle East, increasing inflation and consequences of the Japanese earthquake are just some of the negative catalysts affecting the price movements.

The U.S. dollar was close to session lows, resulting in a further impetus to gold. The U.S. currency traded as low as 74.617, its lowest level since December 2009.

Teck Resources closed Thursday at $52.30, falling $0.59, or 1.12 percent. Rio Tinto closed at $71.70, up $0.04, or 0.06 percent. Vale SA ended the day at $32.65, up $0.64, or 2.01 percent. BHP Billiton closed at $100.42, rising $0.17, or 0.17 percent. Freeport-McMoran closed at $51.93, dropping $0.38, or 0.73 percent.

Teck (TCK) (BHP) (FCX) (RIO) Will Soar on Copper Rebound

While there will be a temporary glut in the copper supply in the early part of 2011, as the year goes on, expectations are things will tighten up and after a period of correction, prices will soar, driving up shares of mining giants like BHP Billiton (NYSE:BHP), Freeport-McMoRan (NYSE:FCX), Rio Tinto (RIO) and Teck Resources (NYSE:TCK).

Part of the problem at this time is the poor ore grades the copper giants are hitting, which in the longer run will increase costs, but also the price of copper as the market tightens on the lower supply.

The other good news for the miners with significant copper exposure is these conditions should continue on over the next several years, as demand continues to be strong.

Along with declining ore grades, other factors include delays to mine expansions and disruption from strikes.

The scenario will change when the giant copper deposit at Oyu Tolgoi mine in Mongolia goes online in 2013, where about 450,000 tons of copper is expected to be produced annually. Those benefiting from that will be Ivanhoe Mines (NYSE:IVN) and Rio Tinto.

For now, there will be a temporary copper glut and then everything will begin to tighten as the year goes on, pushing prices up as high a 18 percent, according to analysts.

Alcoa (AA) (BHP) (RIO) (ACH) to Gain from High Copper Prices

Companies with significant exposure to aluminum, like Alcoa (NYSE:AA), Rio Tinto (NYSE:RIO), BHP Billiton (NYSE:BHP) and Chalco (NYSE:ACH) and Rusal, should enjoy support as producers look for alternatives for certain products which can substitute aluminum for copper.

Aluminum is in general accepted as a cheaper substitute to copper in many applications, and many manufacturers are seriously considering switching to aluminum with copper reaching all-time high prices early this year.

Alcoa's products are used in a wide variety of products from aircrafts and automobiles to commercial transportation and packaging. The company also sells non-aluminum products like aerospace and industrial fasteners.

Copper is primarily used in electrical appliances and construction. About 65 percent of copper usage is attributable to electrical appliances because it is an excellent conductor of electricity. Construction applications make up the bulk of the remaining share of copper usage in which the metal is often used for roofing and plumbing as well as in automobile and ship manufacturing.

Copper prices are currently at an all-time high, above $4.5 a pound. In comparison, aluminum is priced at about $1.1 a pound. Given the costs of retooling manufacturing processes and the extra aluminum it takes to conduct the same amount of electricity as copper, it often becomes more economical to use aluminum instead of copper if copper prices rise above $3.50 a pound.

Alcoa closed Tuesday at $17.49, gaining $0.25, or 1.45 percent.




Source

Apache Sued by Alcoa (AA) for $158 Million

Citing alleged damage from the 2008 Varanus Island gas plant explosion off the coast of Western Australia, Alcoa (NYSE:AA) as sued Apache Energy and its partners for $158 million.

Partners also having a complaint filed against them by Alcoa are Kufpec and Tap Oil.

According to the complaint, "Apache Energy failed to exercise reasonable and adequate care and skill in operating, maintaining and/or repairing the 12-inch SGL (sales gas line) so as to ensure it would not corrode to the point where rupture of the pipeline occurred as it did in the incident."

If Alcoa ends up winning the case, others like mining giants BHP Billiton (NYSE:BHP), Newcrest and Wefarmers are expected to enter the legal fray.

Alcoa closed Monday at $17.24, gaining $0.15, or 0.88 percent.

BHP (BHP) Spending $9.5 Billion to Expand Iron Ore, Coal Operations

BHP (NYSE:BHP) announced it is going to spend about $9.5 billion to expand Australian iron ore and coal mining operations. BHP has said they have plans in place to spend about $80 billion over the next five years to expand the company.

With commodity prices having soared for years, BHP is looking to grow by organic means rather than through acquisitions, as the valuations of quality companies have skyrocketed and cost in many cases are prohibitive.

The company has also failed at three major takeover tries, and it appears countries are also protecting their raw materials as well, as in the case of Potash Corp. (NYSE:POT) in Canada.

The leading global miner said it would invest $6.6 billion in a total investment of $7.4 billion to continue production growth in the company's western Australian iron ore operations.

Investment will include the development of the Jimblebar mine, rail links and additional berths and ship loaders at its Port Hedland site.

BHP said it had also approved three key metallurgical coal projects at its Bowen Basin site in Queensland.

BHP will put in $2.5 billion of the total $5 billion investment, which will see the new Daunia mine developed, its Broadmeadow mine's life extended by 21 years and the stage three expansion of its Hay Point coal terminal.

In a third statement, the company added it had approved a $400 million investment to expand Hunter Valley Energy Coal in New South Wales with the goal of increasing production.

BHP Billiton closed Friday at $90.07, falling $0.59, or 0.65 percent.

BHP (BHP), RIO (RIO) Jump on Rising Commodity Prices

Rising gold, silver and copper prices are pushing up the share price of diversified miners BHP Billiton (NYSE:BHP) and Rio Tinto (NYSE:RIO), as safe haven status and growing copper demand offers the commodities support and growth.

Copper demand and prices are rising on the fact that Japan will need a tremendous amount to rebuild the country. Other commodities like aluminum and steel will also generate strong demand over time.

Gold is up on the various geo-political and economic crises around the world, with the never-ending sovereign debt crisis in the EU again adding fuel to the fire.

Silver continues to rise on an alternative to gold as well as demand as an industrial metal.

BHP was trading at $ 90.94, gaining $0.92, or 1.02 percent, as of 2:20 PM EDT. Rio Tinto was at $68.57, up $1.05, or 1.56 percent.

Rio Tinto (RIO) Says Ore Supplies to Tighten on Japanese Demand

Mining giant Rio Tinto (NYSE:RIO) says iron ore supplies are sure to tightened as a result of the rebuilding effort in Japan when it begins.

Also noted was the ability of the miners, including BHP Billiton (NYSE:BHP) and Vale SA (NYSE:VALE), to acquire enough equipment to ramp up production to meet the growing demand.

Sam Walsh, Rio Tinto's iron ore division chief said, "The impact of the Japanese earthquake and tsunami have been many and diverse and they affect us. Some steel mills have suspended operations and suppliers of heavy equipment, such as Hitachi, have been impacted."

"There is a large reconstruction ahead, the magnitude of which is only just being realized," Walsh added.

Demand for iron ore and steel is expected to rebound when Japan begins rebuilding everything from homes to power plants and analysts say Japan's steel capacity, at more than 130 million tons, will be able to support the reconstruction.

Rio Tinto closed Tuesday at $66.13, falling $0.62, or 0.93 percent.