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Baker Hughes Inc. (NYSE:BHI) shares jump following an upgrade to Buy on valuation at TheStreet Ratings, which pointed to revenue growth potential plus impressive balance sheet metrics. In addition, the firm’s debt-to-equity ratio is low, and net income growth has significantly beat both that of its peers and also the S&P 500.
Shares of Union Drilling, Inc. (NASDAQ:UDRL) gain a fifth of their value Friday on word of an upgrade to Outperform from BMO, which points out that the firm has an enterprise value of only $3.5 million per rig, which represents the lowest in its coverage of similar firms, and believes that its valuation is just above the equipment salvage value. The analyst says that does not make sense, since the company “is in little danger of failing to meet its debt obligations.”
Ivanhoe Mines Ltd. (NYSE:IVN) is now officially Turquoise Hill Resources, and will begin trading under the ticker TRQ starting on Wednesday. Separately, it was recently announced that Ivanhoe and Aluminum Corporation of China Ltd (NYSE:ACH) would once again extend the deadline for their takeover offer for SouthGobi Resource, this time to Sep. 4th. This is apparently the final such extension.
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