Petrobas Shares Higher By 5% As Company Auctions Potassium Mining Rights
Petrobas Shares Higher By 5% As Company Auctions Potassium Mining Rights
Shares of Brazilian oil giant Petroleo Brasileiro ADR (NYSE:PBR) traded higher by 5% on Friday after the company announced it is selling its potassium mining rights in the Amazon Basin.
What Happened? Petrobas said Thursday that it is seeking bidders for its potassium mining assets, including eight mining concessions, four granted mining requests and 22 pending requests for research.
Related Link: CPI Inflation Slows To 8.5% In July, Stocks Rip Higher — But Are Wages Keeping Up?
Why It's Important: Global Potash supply has gotten squeezed since Russia invaded Ukraine. Russia and Belarus account for a combined 40% of global potash stocks, which is a key ingredient in fertilizers used to grow corn, soy, rice and wheat.
Potassium chloride spot prices are up about 177% from a year ago.
Brazil's agriculture sector reportedly imports about 85% of its fertilizer.
Related Link: 7 Best Energy Stocks To Buy With Over 6% Dividend Yields: Ecopetrol, Energy Transfer LP And More
Petrobas also announced it is cutting diesel prices for the second time in a week on Thursday as part of Brazilian President Jair Bolsonaro's push to combat inflation.
Petrobas' big move helped push the Ishares Msci Brazil ETF (NYSE:EWZ) higher by 1.9% on Friday, and several other big Brazilian stocks may have been trading higher in sympathy:
- Banco Bradesco SA (NYSE:BBD) was up 1.7%
- Suzano (NYSE:SUZ) was up 2%
- Ultrapar Participacoes SA (NYSE:UGP) was up 3.7%.
Friday was also the ex-dividend day for Petrobas, which has a whopping 19.8% yield. Shareholders who bought the stock prior to Friday are entitled to a $1.295 dividend to be paid on Sept. 8.
Benzinga's Take: The SPDR S&P 500 ETF Trust (NYSE:SPY) has struggled so far in 2022, but the EWZ Brazil ETF is up 14.7% year-to-date. Petrobas has been a top performer among U.S.-listed Brazilian stocks, generating a more than 40.6% year-to-date total return.
Shares of Brazilian oil giant Petroleo Brasileiro ADR (NYSE:PBR) traded higher by 5% on Friday after the company announced it is selling its potassium mining rights in the Amazon Basin.
巴西石油巨頭的股票 巴西石油公司 ADR 紐約證券交易所代碼：PBR）週五上漲了5％，此前該公司宣佈將出售其在亞馬遜盆地的鉀礦開採權。
What Happened? Petrobas said Thursday that it is seeking bidders for its potassium mining assets, including eight mining concessions, four granted mining requests and 22 pending requests for research.
發生了甚麼？ Petrobas週四表示，它正在爲其鉀礦開採資產尋找競標者，包括八個採礦特許權、四個已獲批准的採礦申請和22份待處理的研究申請。
Related Link: CPI Inflation Slows To 8.5% In July, Stocks Rip Higher — But Are Wages Keeping Up?
相關鏈接：7月份消費者價格指數通脹率放緩至8.5％，股市走高——但工資是否在上漲？
Why It's Important: Global Potash supply has gotten squeezed since Russia invaded Ukraine. Russia and Belarus account for a combined 40% of global potash stocks, which is a key ingredient in fertilizers used to grow corn, soy, rice and wheat.
爲甚麼它很重要： 自俄羅斯入侵烏克蘭以來，全球鉀肥供應受到擠壓。俄羅斯和白俄羅斯合計佔全球鉀肥庫存的40％，鉀肥是用於種植玉米、大豆、水稻和小麥的肥料的關鍵成分。
Potassium chloride spot prices are up about 177% from a year ago.
氯化鉀現貨價格比去年同期上漲了約177％。
Brazil's agriculture sector reportedly imports about 85% of its fertilizer.
據報道，巴西農業部門約有85％的化肥是進口的。
Related Link: 7 Best Energy Stocks To Buy With Over 6% Dividend Yields: Ecopetrol, Energy Transfer LP And More
相關鏈接：股息收益率超過6％的7只最值得買入的能源股票：Ecopetrol、Energy Transfer LP 等
Petrobas also announced it is cutting diesel prices for the second time in a week on Thursday as part of Brazilian President Jair Bolsonaro's push to combat inflation.
巴西石油公司週四還宣佈，作爲巴西總統的一部分，將在一週內第二次下調柴油價格 賈爾·博爾索納羅努力對抗通貨膨脹。
Petrobas' big move helped push the Ishares Msci Brazil ETF (NYSE:EWZ) higher by 1.9% on Friday, and several other big Brazilian stocks may have been trading higher in sympathy:
巴西石油公司的重大舉措推動了 Ishares Msci 巴西ETF 紐約證券交易所代碼：EWZ）週五上漲了1.9％，其他幾隻巴西大型股票可能已經走高，表示同情：
- Banco Bradesco SA (NYSE:BBD) was up 1.7%
- Suzano (NYSE:SUZ) was up 2%
- Ultrapar Participacoes SA (NYSE:UGP) was up 3.7%.
- Banco Bradesco SA 紐約證券交易所代碼：BBD）上漲1.7％
- 蘇扎諾 紐約證券交易所代碼：SUZ）上漲了2％
- Ultrapar Particaco 紐約證券交易所代碼：UGP）上漲了3.7％。
Friday was also the ex-dividend day for Petrobas, which has a whopping 19.8% yield. Shareholders who bought the stock prior to Friday are entitled to a $1.295 dividend to be paid on Sept. 8.
週五也是Petrobas的除息日，其收益率高達19.8％。在週五之前購買該股的股東有權獲得將於9月8日支付的1.295美元的股息。
Benzinga's Take: The SPDR S&P 500 ETF Trust (NYSE:SPY) has struggled so far in 2022, but the EWZ Brazil ETF is up 14.7% year-to-date. Petrobas has been a top performer among U.S.-listed Brazilian stocks, generating a more than 40.6% year-to-date total return.
Benzinga 的看法： 到目前爲止，SPDR標準普爾500指數ETF信託基金（紐約證券交易所代碼：SPY）在2022年一直陷入困境，但巴西EWZ ETF今年迄今上漲了14.7％。Petrobas在美國上市的巴西股票中表現最佳，年初至今的總回報率超過40.6％。
譯文內容由第三人軟體翻譯。
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