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Shares of Titanium Metals jump as 1Q meets expectations

Shares of Titanium Metals Corp. jumped Wednesday, a day after the company reported first-quarter profit fell 46 percent but still met analyst expectations.

Shares jumped $2.53, or 16 percent, to $18.37 in midday trading.

The Dallas company blamed its declining earnings on a global titanium capacity increase and delays by Boeing in buying products for its 787 plane. Net income for the three months ended March 31 declined to $40.3 million, or 22 cents per share, from $75 million, or 41 cents per share. Revenue fell to $293.7 million from $341.7 million.

On average, analyst surveyed by Thomson Financial forecast a quarterly profit of 22 cents per share and revenue of $294.2 million.

Titanium Metals said increases in global titanium sponge capacity and manufacturing activity for titanium products increased availability of titanium sponge and scrap. That, in turn, cut costs for such raw materials, which then produced lower selling prices.

"Recently announced changes in the production schedule for the Boeing 787 Dreamliner are expected to impact customer inventory levels and product mix and contribute to additional fluctuations in demand over the near term," the company said in a statement.

Citi Investment Research analyst Brian Yu said pricing was better than he expected and that the company's prospects were bright.

"(The company) appears well positioned to benefit from continuing growth in (titanium) demand from the commercial aerospace market, even though the growth profile is more gradual than previously expected," Yu wrote. AP

 

Kenmare Resources "buy," target price reduced

Analysts at Canaccord Adams maintain their "buy" rating on Kenmare Resources Plc (KMR-GBX). The target price has been reduced from £0.75 to £0.65.

In a research note published this morning, the analysts mention that the company is taking steps to resolve the start-up commissioning difficulties at its MOMA mineral sands project in Mozambique. Kenmare Resources is targeting ilmenite production of 20Kt in March, growing it to 65Kt by December. The downward revision in the target price reflects a delay in production, a rise in operating costs and rising interest charges, Canaccord Adams says. newratings.com

 

Kenmare Resources 2007 loss widens, sees full production at Moma in last quarter

Kenmare Resources Plc. said its loss for the full year 2007 widened mainly due to foreign exchange losses on euro-denominated debt and the company's corporate operating costs, net of interest earned.

The company posted a pretax loss of $9.63 million for the year ended Dec 31 compared with $4.33 million last year as its operating expenses rose to $12.56 million compared with $7.26 million last year.

The company also said it now expects the ramp-up at its Moma Titanium minerals mine in northern Mozambique will continue through 2008, full production rate being achieved in the last quarter.

Kenmare said while it has experienced some cost increases caused mainly by salary and fuel costs, it is very confident that its Moma mine will achieve its targeted production rates in 2008 and attain its predicted Thomson Financial

 

   

CHEMICAL COMPOSITION OF THE TITANIUM ALLOY 5V ACCORDING TO OST 1 90013 - 81

AL V Fe Mo Si
4.4-6.0 1.0-1.9 0.25 0.7-1.4 0.12

 

Dimension, mm Weight,kg Surface Condition

1

titanium ingot

4801830

1469

turned

2

titanium ingots

4851600

1318

turned

3

titanium ingot

4801670

1321

turned

4

titanium ingots

5001900

1542

turned

5

titanium ingot

4751800

1451

turned

6

titanium ingots

4801604

1298

turned

7

titanium ingot

4701785

1398

turned

8

titanium ingots

4851820

1501

turned

9

titanium ingot

4801835

1480

turned

10

titanium ingots

5001845

1555

turned

11

titanium ingot

5001845

1540

turned

12

titanium ingots

490/5001865

1558

turned

13

titanium ingot

4701610

1230

turned

14

titanium ingots

4851660

1365

turned

15

titanium ingot

4801575

1253

turned

16

titanium ingots

4801305

1055

turned

17

titanium ingot

4751570

1229

turned

18

titanium ingots

4701810

1412

turned

19

titanium ingot

4801700

1352

turned

20

titanium ingots

5101905

1759

forged

21

titanium ingot

5051815

1662

forged

22

titanium ingots

5001815

1663

forged

23

titanium ingot

5001900

1714

forged

24

titanium ingots

5001920

1702

forged

25

titanium ingot

5001960

1775

forged

26

titanium ingots

5001900

1723

forged

27

titanium ingot

5101960

1807

forged

28

titanium ingots

5001650

1536

forged

29

titanium ingot

5002000

1780

forged

30

titanium ingots

5101960

1807

forged

       
       

 

Kenmare Resources: First export of product from the Moma titanium mine completed >>>

Kobe Steel to start up new titanium melt shop in January; Investments in upstream and downstream operations raise production cap >>>

 

 

  Rolled titanium: 

1.      Titanium sheet of 5V Alloy

2.      Titanium plate of 5V Alloy

3.      Titanium bar of 5V Alloy

4.      Titanium tube of 5V Alloy

   Titanium sheet, titanium bar, titanium plate, titanium tube of 5V Alloy may be used in following areas:   

1)     shipbuilding;

2)     nuclear power;

3)     bicycles manufacture.

  Titanium alloy 5V may be applied instead of titanium alloy Grade 9 ASTM.

 

  For shipbuilding and nuclear power we offer following material: 

1.      Titanium bar Grade 9.

2.      Titanium bar PT3V;

3.      Titanium sheet Grade 9;

4.      Titanium sheet PT3V;

5.      Titanium plate Grade 9;

6.      Titanium plate PT3V;

7.       Titanium tube Grade 9;

8.      Titanium tube PT3V.

 

   From titanium ingots of 5V Alloy we can manufacture titanium flanges and titanium discs. 

 

THE BARS OF 5V ALLOY MAY BE APPLIED INSTEAD OF GRADE-9 MATERIAL

Manufacturer of titanium ingots, tubes, bars Grade1, Grade2, Ti6AL/4V                    

We take orders for manufacture and supply of following titanium ingots:                     

a) Titanium ingots Grade 1

b) Titanium ingots Grade 2

c) Titanium ingots Ti6Al/4V

d) Titanium slabs Grade1

e) Titanium slabs Grade2

f) Titanium slabs Ti6AL/4V

 
 

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