BlackRock buys and sells Forge
BLACKROCK Group, the world’s largest asset manager, acquired a substantial holding in troubled mining services provider Forge Group – before selling out most of it at the end of last week. Forge had been queried by the Australian Securities Exchange for a run in its shares, which included a near-55% gain in just one day […]
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Weak Demand Dampens Growth Forecasts For Mining Equipment Makers
After a decade of steep and sustained growth, the mining equipment business is beginning a cyclical downturn, according to a new analysis by Lux Research. In 2013, capital spending in the mining sector is predicted to decline by 24% to $76 billion compared to the previous year. Caterpillar CAT -2.11%, the Peoria, IL-based maker of […]
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Mechel OAO Stock Getting Very Oversold
n trading on Friday, shares of Mechel OAO (NYSE: MTL) entered into oversold territory, changing hands as low as $3.10 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to […]
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