Boston, MA 02/05/2014 (wallstreetpr) – Vale SA (ADR) (NYSE:VALE)’s $2.5 billion partnership with BSG Resources in Guinea remains in controversy. The government of President Alpha Conde is looking into the deal after it emerged that the two companies may have violated certain mining codes. BSG Resources sold 51 percent stake in iron ore project to VALE, a move that in the eyes of the government constitutes transfer of exploration permits which is now allowed in the country. If the hurdles are cleared and VALE goes ahead to work in the project, it is believed that the 142-square-mile iron ore concentration is of very high quality which would keep processing costs in check despite the project being located far from roads, rail or ports. Vale SA (ADR) (NYSE:VALE) gained 43 cents to close $13.61 per share in Tuesday’s session.
American Capital Agency Corp. (NASDAQ:AGNC) has had its price objective lowered by analysts at Deutsche Bank to $22.75 from $24 per share in the previous view. The rating agency now rates the stock a “hold.” The newly declared price target indicates about 8 percent upside potential for the AGNC stock. The company this week posted quarterly results whereby it realized 75 cents per share, exceeding the 63 cents that analysts had expected. Revenue for the quarter was $421 million. In the corresponding quarter the previous year, the company realized $.89 earnings per share. American Capital Agency Corp. (NASDAQ:AGNC) fought a good fight Tuesday to gain 27 cents per share in the regular session, sending the stock up at $21.33.
ARM Holdings plc (ADR) (NASDAQ:ARMH) registered a loss in its fourth quarter, partly due to various one-time items which impacted earnings. The company also experienced the impact of the slowdown in high-end smartphone market which is coming about mainly due to saturation. Revenue from processor royalty was hardly any better as it rose only 7 percent for the three months period. Equally disappointing was royalty per unit which sunk to a two-year low of 4.5 cents. Yet, ARM Holdings plc (ADR) (NASDAQ:ARMH) is still optimistic of the future, banking mainly on Internet of Things.
