Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
The NYSE-listed stock of the world’s largest producer of iron-ore, Brazil’s Vale, on Thursday trended lower after the diversified miner reported a significant fourth-quarter net loss, as the collapse the steelmaking commodity’s price weighed on the bottom line. Despite narrowing the net loss for the three months ended December 31, to $1.85-billion, compared with a loss of $6.5-billion in the comparable period of 2013, investors were disappointed with the company’s reported underlying earnings of negative $251-million, or $0.05 a share for the quarter.
The NYSE-listed stock of the world’s largest producer of iron-ore, Brazil’s Vale, on Thursday trended lower after the diversified miner reported a significant fourth-quarter net loss, as the collapse the steelmaking commodity’s price weighed on the bottom line. Despite narrowing the net loss for the three months ended December 31, to $1.85-billion, compared with a loss of $6.5-billion in the comparable period of 2013, investors were disappointed with the company’s reported underlying earnings of negative $251-million, or $0.05 a share for the quarter.
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