Experienced investors know that the market is always playing a game of "he loves me, he loves me not" when it comes to commodities and commodity companies like Vale (Nasdaq: VALE), but this Brazilian iron ore giant has nevertheless managed to produce impressive long-term gains for shareholders. While the company's ever-increasing size argues that it will be more beholden to global commodity cycles in the future, the company's growth plans suggest that further growth is still possible.
A Hot Third Quarter
Much to the chagrin of steelmakers like U.S. Steel (NYSE:X) and POSCO (NYSE:PKX), iron ore prices are hot right now. Much to the delight of Vale shareholders, the company translated higher prices and production into more than double the level of last year's sales and 46% sequential growth. Earnings were also far higher on an annual basis, and up 63% sequentially, while adjusted EBTIDA nearly tripled annually and increased almost 60% sequentially.
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