POSCO (ADR)

• This Company Looks Good for Value Investors, But Are There Drawbacks?

  By Mike Thiessen - June 6, 2013 | Tickers: MT, PKX, X

  Investors who wish to shift gears and look at an opportunity that has little or nothing to offer in the way of arbitrage may be interested in South Korean steel-making giant POSCO (NYSE: PKX). Despite being one of the largest steel concerns in the world, POSCO routinely gets sidelined in favor of competitors like ArcelorMittal (NYSE: MT) or even United States Steel (NYSE: X). 
  
  Although there may be some merit more »

• Buffett Has Just Increased His Stake In His Favorite Investment

  By Shmulik Karpf - May 13, 2013 | Tickers: BRK-B, BRK-A, PKX

  On May 1, Warren Buffett's Berkshire Hathaway (NYSE: BRK-A), (NYSE: BRK-B) agreed to pay $2.05 billion to purchase the remaining piece of Iscar, an Israeli metalworking company that it had acquired a stake in seven years ago. IMC International Metalworking, known as Iscar, was founded in 1952 by Stef Wertheimer, an Israeli entrepreneur from an old rented shack. It makes cutting gear for industries including aerospace and auto more »

• Steel and Iron Ore: Part 2

  By Rupert Hargreaves - May 9, 2013 | Tickers: GGB, PKX, TX

  In the first part of this piece I looked at the state of the Iron ore industry and how there is profit to be made from undervalued miners. This part focuses on the steel market, its outlook and some undervalued steel producers.

  The world demand for steel continues to grow

  During April, the World Steel Association released its short range outlook for 2013-2014, forecasting that global steel use will increase more »

• Bargain Hunting in Korea

  By Ryan Peckyno - March 4, 2013 | Tickers: LPL, PKX, SKM, WF

  Over the past few days I wrote two articles: Bargain Hunting in Brazil and Bargain Hunting in France.  After reflecting on those pieces, I decided that I was going to go bargain hunting in a country that would provide an interesting contrast with France. I chose South Korea mainly because it has a nice story and a healthy economy.

  History

  Fifty years ago, South Korea’s per capita GDP was more »

• 3 Steel Companies to Watch Out For in 2013

  By Sonam Chamaria - January 8, 2013 | Tickers: MT, PKX, X

  One sector that hasn't seen a lot of good performers in 2012 is the steel sector. Low consumption, demand for steel, continuing troubles in Europe, and the problem of overcapacity resulted in a lackluster year.

  Will 2013 be the same? Well, that remains to be seen. But if so, there are a few steel companies that can earn you some big bucks this year.

  Safe Bet

  One stock that more »

• Chinese Domination: 5 Reasons the Dragon Will Breath Fire in the World Economy in 2013

  By Luke Pinkney - January 2, 2013 | Tickers: CAAS, CHA, JASO, PTR, PKX, TSL

  If someone were to survey a random sampling of the people closest to me, he might conclude that I am a die-hard cheerleader for Chinese investment.  I would argue, however, that this is not the case.  For if I am a cheerleader I am a poor one, at best, for I only cheer when the team is winning.  At worst, I will abandon the team when it becomes obvious to more »

• Extractive Industries Under the Mother Earth Law

  By Calla Hummel - November 5, 2012 | Tickers: PBR, PKX, REPYY.PK |

  Corporate personhood is highly controversial in the United States, but corporations are not legally treated as citizens. What if the government extended full rights to a nonhuman? That is exactly what Bolivia’s government did in October, when it signed the Law of Mother Earth (full title, click for full text in Spanish: Ley Marco de La Madre Tierra y Desarrollo Integral para Vivir Bien). The law gives nature, writ more »

• Steel Industry Slowdown Lingering

  By Tony Daltorio - October 12, 2012 | Tickers: MT, VALE, SLX, PKX, RIO

  The global steel market is huge, valued at about $850 billion by analysts. That is not surprising, considering that steel is one of the world's most widely traded commodities, with a myriad of uses. But right now, the industry is going through a rough patch. Unfortunately for investors in steel and iron ore stocks, it looks like the tough times will extend for another few years. 

  Interested investors can more »

• Marty Whitman’s Top Stock Picks

  By Meena Krishnamsetty - September 13, 2012 | Tickers: BAM, CVA, FCE-A, PKX, BK

  Marty Whitman, a value investor, founded Third Avenue in 1990 after having run a money management firm since 1986. Third Avenue currently has over $10 billion under management and, at least over the last several quarters, has demonstrated a preference for the financial sector. By doing deep bottom-up research on companies Third Avenue attempts to find stocks which are “safe”- a good management team in an understandable business with stable more »

• Vale, S.A’s Loss of Share in the Iron Ore Market May End Soon

  By Muhammad Bazil - August 13, 2012 | Tickers: BHP, BBL, VALE, PKX, RIO

  Brazilian mining giant Vale, S.A. (NYSE: VALE) has lost approximately 14% of its share of the seaborne market for iron ore since 2007, with most of that lost business going instead to the Australian operations of Rio Tinto Group, PLC (NYSE: RIO) and BHP Billiton, Ltd. & PLC (NYSE: BBL).  VALE's loss of market share has been largely due to getting past significant regulatory and licensing requirements by the more »

• Conditions Worsening for Bolivian Natural Resource Operations

  By Calla Hummel - July 20, 2012 | Tickers: VALE, PBR, PKX, REPYY.PK

  As La Razon reported Tuesday morning, Jindal Steel announced that it is leaving Bolivia, a historic $2.1 billion contract, and the world's largest iron ore deposits. Why? Because the Bolivian government and parastatals have not followed through on deals, have started legal proceedings against executives, and placed new, startling conditions on Jindal. Jindal is the second mining company this month to leave Bolivia with multi-million dollar losses due more »

• Short Sellers Are Having a Field Day With This Steel 6-Pack

  By Soroush Pour - July 17, 2012 | Tickers: GGB, NUE, PKX, SMS, TX, WOR

  In our current market environment, sentiment can seemingly change on a whim, so it’s crucial that investors consider a stock’s short interest before buying.  Typically, an increased amount of shorting means that the Street has grown less fond of a particular stock, meaning that you might want to adjust your expectations accordingly. In some cases, overselling can sometimes have a positive effect on a stock’s price, so more »

• "Discipline of Debt" is Punishing These Stocks

  By Jonathan Yates - July 17, 2012 | Tickers: ALU, AAPL, MT, MSFT, PKX, S, SVU

  For a long period, the "Discipline of Debt" has been preached by investment bankers thumping the bible of leveraged buyouts and other forms of corporate transactions.  The sermon was that high debt would, by its very presence, force a company to "be lean and mean" and rid itself of wasteful spending and inefficient operations.  That the debt was also tax deductible and did not dilute shareholder equity added to its more »

• Hostages, Nationalizations, and Other Gigantic Red Flags

  By Calla Hummel - July 12, 2012 | Tickers: BG, PBR, PKX, REPYY.PK, TOT |

  Calla is writing from La Paz, Bolivia.

• Bolivian Political Risk Rising Fast

  By Calla Hummel - July 10, 2012 | Tickers: GLEN, HAL, PBR, PKX, REE

  Few characterize Bolivia as politically or economically stable, but the past three months have seen an unusual upswing in nationalizations and other political moves against established projects, especially foreign mineral extraction projects. Bolivia currently boasts a historically rare bill of macroeconomic health – decent, steady growth of about 4% annually, large foreign reserves, little debt, low inflation – largely due to revenue from the last decade’s commodity boom, according to Dr more »

• A Tantalizing, Risky Natural Resource Play

  By Calla Hummel - July 9, 2012 | Tickers: PKX

  Last week, South Korean steelmaker POSCO (NYSE: PKX) signed a new agreement with Bolivia’s state-run mining company Comibol and the Korea Resources Corporation to develop Bolivia’s massive lithium deposits. If the agreement stays on track, POSCO and the Korea Resources Corporation will have privileged access to half the world’s known lithium deposits. This is a prize that Mitsubishi, Sumitomo, Bolloré, and others have played for and lost more »

• Hardhats Required Beyond these Valuations

  By Maxxwell A.R. Chatsko - June 5, 2012 | Tickers: AA, AP, PKX, TX

  I know major news outlets make it seem like the economic sky is falling, but it isn’t. The recent flow of the market has led to some head-scratching valuations in industrial mining and materials companies. Yes, there is weakness in Europe, slowing growth in China (only 8% now), and some loose ends to tie up here at home. And yes, the industry has to sprint just to stay in more »

• Why is ArcelorMittal Steel Still so Cheap?

  By Daniel Ferry - June 3, 2012 | Tickers: MT, NUE, PKX, X

  ArcelorMittal (NYSE: MT) is the world's largest steelmaker, providing nearly a tenth of the world's steel, and about a fifth of the world's automotive steel. And it is selling for peanuts.

• Value Investor Martin Whitman’s Stock Picks

  By Meena Krishnamsetty - June 1, 2012 | Tickers: BAM, BIP, FCE-A, PKX

  Third Avenue Management’s Martin Whitman is a well-known value investor with five funds under the Third Avenue flag. This quarter, the focus seems to have been on real estate with a couple attractive opportunities in that space comprising top holdings. Below are his top three holdings.

  Posco (NYSE: PKX) With weakness in the Korean won and domestic price hikes, PKX appears well-positioned to beat Q2 consensus estimates of W840 more »

• M.I.S.T. Opportunities: South Korean Names That Are Deeply Undervalued

  By Edgar Ambart - April 12, 2012 | Tickers: KB, KEP, PKX

  Jim O'Neill, a Goldman Sachs economist, who coined the acronym phrase B.R.I.C., has now invented a new one, M.I.S.T.   While B.R.I.C. stood for the world's largest emerging economies such as Brazil, Russia, India, and China, M.I.S.T encompasses the next wave of smaller size emerging economies - Mexico, Indonesia, South Korea, and Turkey.  The country I would like more »

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