The shares of OK (VOUCH3) operated at a drop of 2.3% this Wednesday (1), around 12h, after announcing that the production of iron ore reached 80.8 million metric tons in the fourth quarter of 2022.
According to Fernando Ferrer, an analyst at Empiricus Researcha OK presented weak numbers and below the guidance of production for the year for iron ore, pellets, nickel and copper in operational terms.
But the guidance of iron ore remains stable (between 310 and 320 million tons) for 2023, as pointed out by the analyst, while the company expects an increase in production for pellets and copper and a reduction for nickel.
And the 4T22?
Empiricus assesses that it is still necessary to wait for the disclosure of the result of OK in 4Q22, on February 16th, to better understand the company’s financial performance in the period.
Despite this, the acceleration of the Chinese reopening may be an “extra trigger for the price level of commodities and for the performance of the paper in the year”, explains Ferrer. THE OK follows as a buy recommendation in the Empiricus stock portfolio.
To the XP Investimentosthe mining company’s production results are “a little negative, but good prices should save the quarter”.
“Sales of iron ore fines and pellets increased 22% in the quarter, mainly due to sales of inventory in transit in the third quarter”, highlights the brokerage.
Andre Vidal and the analyst team at XP maintain the Buy rating of OK and still like the asset in the long term, but remain cautious in the face of the recent iron ore rally.
THE harvest still sees the good sales performance in the quarter sustaining a sequential improvement in the mining company’s operating results. Bank analysts maintain a buy recommendation for the assets, with a target price of BRL 91.
miners
The shares of OK were accompanied by other papers related to iron ore in this trading session. THE Ibovespa also had a drop of 1.2%
In the wake, the papers of the Gerdau (GGBR4) lost 2.6% and Metalúrgica Gerdau (GOAU4) fell by 2.4%.
Iron ore, the thermometer of Brazilian mining companies, had a slight drop of 0.29% on the Dalian commodities exchange in Chinaat 870.50 yuan per metric ton.
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Source: Moneytimes
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