FSUMF - Vale Production Report 2Q24: Positive Signs Despite Challenges
2024-07-19 23:55:05 ET
Summary
- Positive points were an increase in the volume of iron ore production and a possible positive outcome for environmental liabilities.
- Negative points were prices lower than expected, due to lower premiums.
- Despite the risks, the company trades at a valuation of just 3.6x EBITDA, extremely cheap.
Investment Thesis
I recommend buying Vale shares ( VALE ). The company released its production report on July 16th, with production volumes coming in above expectations, indicating that iron ore guidance for 2024 between 310 and 320 Mt is well on track....
Vale Production Report 2Q24: Positive Signs Despite Challenges