Vivian Lewis Profiles the Following Stocks: Buenaventura, Gold Fields, Westpac Banking Corp., and Tenaris
CHICAGO–(BUSINESS WIRE)–June 9, 2003
More and more Americans are finding benefits in foreign stocks. If you haven’t looked across the border for profit, then you are limiting your potential. Vivian Lewis can open new doors with four foreign companies that could make an impact here at home. Learn about Buenaventura (NYSE:BVN), Gold Fields Ltd (NYSE:GFI), Westpac Banking Corp. (NYSE:WBK), Tenaris (NYSE:TS). Click here for the full story exclusively on Zacks.com: http://featuredexpert2bw.zacks.com/
Here are the highlights from the Featured Expert column:
Peru’s largest listed precious metal stock, Buenaventura (NYSE:BVN), had net income of Soles 186.3 million or US$53.6 million for the March quarter, an increase of 313% over the prior year first quarter. Operating profit was S/.52.4 million ($15.1 million), up 126% year-over-year. EBITDA this year hit $78.2 million, up 85%. In the first quarter, Buenaventura reported total sales of S/.153.7 million, up 22%.The increase in both the volume of gold sold and the price also was 22%.
Gold Fields Ltd (NYSE:GFI) net earnings dropped in the third quarter to R805 million, compared to R1.049 billion for the March 2002 quarter. In U.S. Dollar terms, quarterly earnings rose sequentially by 12% from $83 million. Operating profit declined sequentially by 15% from R1.32 billion to R1.13 billion but remained flat in dollars thanks to the 14% fall of the greenback. The March quarter typically sees difficulties with production and manning levels after the Xmas break when miners return to their foreign homes.
Vivian owns Westpac Banking Corp. (NYSE:WBK) from a converted convertible share, and it is doing well. Westpac almost doubled its forecast cost savings from integrating funds management operations, despite “extreme” trading conditions, AAP reports. Integrating newly-acquired businesses like Rothschild Australia Asset Management and BT Asset Mgm. has proven to save more money than anticipated.
Tenaris (NYSE:TS) reported non-comparable results for Q3 (ended Mar.) Net sales of US$789.6 million were down 2.5% from prior year levels while operating income fell more sharply, to $98.6 million, down .5%. It was hurt by the slack demand for oil drilling pipe during the run-up to the Iraq War and strikes in Venezuela. However, net income at $45.5 million companies to a prior year’s loss of $35 million. Net was 39 cents/ADR.
Uncover a wealth of additional information and profit potential from foreign investments with more of Vivian Lewis’ commentary, as well as her portfolios, by clicking: http://featuredexpert3bw.zacks.com/
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