BCX: Building Blocks For The World [Seeking Alpha]
BlackRock Resources Common Shares of Beneficial Interest (BCX)
US:NYSE Investor Relations:
blackrockres.com
Company Research
Source: Seeking Alpha
However, fundamentals seem weak to support market multiple expansion with EPS growth of -2% in 2024 and 8% in 2025. The current MDP that provides an 8% distribution yield is not funded by holding dividends nor call options writing and may dip into capital. The building blocks of modern society are dependent on basic raw materials such as oil, natural gas, steel (iron ore), copper, fertilizers, and now lithium and rare earths. However, the natural resource extraction business is capital intensive with long investing cycles and subject to volatile prices given the commodity (highly interchangeable products) nature of the product. Most commodity prices reflect a short-term, even daily, supply and demand balance. Add to this the political risk of drilling or mining in less-than-ideal rule-of-law jurisdictions and the business is downright risky. To this end, I analyzed the BlackRock Resources & Commodities Strategy Trust ( NYSE: BCX ) closed-end fund and came away with a neutral view
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BCX
News
- Certain BlackRock Closed-End Funds Announce Adoption of Discount Management ProgramBusiness Wire
- Distribution Dates and Amounts Announced for Certain BlackRock Closed-End FundsBusiness Wire
- Certain BlackRock Closed-End Funds Announce Estimated Sources of DistributionsBusiness Wire
- Certain BlackRock Closed-End Funds Announce Estimated Sources of DistributionsBusiness Wire
- Distribution Dates and Amounts Announced for Certain BlackRock Closed-End FundsBusiness Wire
BCX
Sec Filings
- 3/14/24 - Form N-CEN
- 3/6/24 - Form N-CSR
- 2/26/24 - Form NPORT-P
- BCX's page on the SEC website