Chinese auto sales rose 30% year-on-year to an annual rate of 28.5 million units in July. Nickel, cobalt, and copper are important metals for the production of electric cars. During June, nickel was the only important metal to increase its inventories somewhat, but this increase of 3,200 tons is to be considered small compared to the overall market. Meanwhile, tin inventories fell to just 25 tons (from 230 tons at the end of May). Zinc reported inventories down by more than 80% year-on-year, aluminum by more than 60%. Inventories of other metals also continue to fall. Source: Scotia Bank, Bloomberg, LME, SHFE, COMEX & FastMarketsMB The latest LME inventory data show that inventories remain well below historical averages (Figure 1).įigure 1: Global Nickel inventories reached historic lows Regardless of origin, the upcoming “official” purchases could also stimulate Chinese private sector demand. With stocks of refined nickel still relatively low, officials may take the unusual step of buying units from the European market. Although exact purchase volumes are not yet known, the bulk of the stockpile is expected to be nickel as the bureau seeks to replace units used during the nickel shortage in March. MULN’s trailing-12-month negative ROTC and ROTA of 144.39% and 217.80% are lower than the industry averages of 6.37% and 4.34%.Home » Insight » China stockpiles Copper, Nickel and Cobalt – has the commodity sector bottomed out?Ĭhina’s State Reserve Bureau (SRB) will buy copper, nickel, and cobalt stocks in the second half of 2022, FastMarkets and Canadian analyst firm BMO report. Its products include electric passenger and commercial vehicles, and it provides solid-state polymer battery technology. Get all of RIVN’s ratings here.Įlectric vehicle company MULN manufactures and distributes electric vehicles. We also have graded RIVN for Growth, Momentum, and Sentiment. In addition, the stock has an F grade for Value, Stability, and Quality. The stock has an overall F rating, equating to a Strong Sell in our proprietary rating system. RIVN’s POWR Ratings are consistent with this bleak outlook. Over the past year, the stock has lost 71.3% to close the last trading session at $19.08. Its EPS is expected to remain negative in 2023. Street expects RIVN’s EPS to fall 31.7% per annum for the next five years. Moreover, its cash and cash equivalents came in at $13.27 billion for the period ended September 30, 2022, compared to $18.13 billion for the period ended December 31, 2021. Its net loss increased 39.8% year-over-year to $1.72 billion. RIVN’s loss from operations came in at $1.77 billion for the quarter that ended September 30, 2022, up 128.6% year-over-year. Its trailing-12-month negative ROCE and ROTC of 127.71% and 38.22% are lower than the industry averages of 12.47% and 6.37%. Its forward Price/Sales of 10.82x is substantially higher than the industry average of 0.96x. RIVN’s forward EV/Sales of 4.13x is 234.2% higher than the industry average of 1.24x. The company offers five-passenger pickup trucks and sports utility vehicles. RIVN designs, develops, manufactures, and sells electric vehicles and accessories. Click here to access the additional POWR Ratings for NIO (Value and Momentum). NIO is ranked #51 out of 61 stocks in the Auto & Vehicle Manufacturers industry. Also, the stock has a D grade for Growth, Stability, Sentiment, and Quality.
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