(Bloomberg) — China’s steel-industry slowdown looks set to deepen, with BHP Group Ltd., the world’s biggest miner, and China Baowu Group Ltd., the top iron ore buyer, flagging concerns as demand fades after decades of growth.

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While both BHP and Baowu’s listed unit posted relatively healthy profits on Tuesday, their downbeat comments on the outlook for steel will intensify global concerns about a worsening slump. Baoshan Iron & Steel Ltd. pointed to “sluggish” consumption, while BHP Chief Executive Officer Mike Henry highlighted China’s real estate sector and “uneven” recovery.

China dominates the global steel market, but demand for the alloy has slipped by more than 10% since 2020, likely marking an end to a long boom that supercharged profits for big iron ore shippers like BHP. Those concerns have intensified in recent months as the nation’s property crisis has dragged on. Benchmark steel prices have plunged to multiyear lows, and mills now face brutal competition for buyers both at home as well as overseas.

The steel industry is marked by “strong supply, weak demand, high costs, and low prices,” Baoshan Iron & Steel said in its earnings statement. “In the second half of the year, the steel industry will maintain a situation of oversupply, and steel companies will continue to face pressure.”

BHP produces 260 million tons of iron ore a year, most of it shipped to China, where Baowu, the world’s top steelmaker, is the miner’s biggest single customer. The unfolding crisis has already taken a heavy toll on iron ore prices, with futures for the commodity collapsing by more than a quarter this year.

“We maintain our belief that China’s steel production has plateaued above 1 billion tons and this is likely to continue across the mid-2020s,” BHP said. Against that challenging backdrop, CEO Henry is leading a pivot toward copper as demand for the energy-transition metal expands, with expectations that the market for that metal will flip to a deficit later this decade.

Better Than Most

Both BHP and the Chinese steel producer have so far escaped the worst effects of the slump, which got markedly worse in July and August as mills ratcheted back production. BHP’s underlying iron ore earnings rose 13% in its financial year through June, while Baosteel’s first-half net income was steady.

Baosteel’s first-half margins were likely to be unsustainable in the current quarter, Citigroup Inc. analysts warned in a note. The bank sees downside risks to its full-year earnings forecast.

Still, Baosteel and the iron ore majors are likely in a better shape than many of their smaller peers as their scale and low costs will help them to weather the downturn. Higher-cost miners will face pressure to halt output when prices fall below $100 a ton — a level that was breached recently — while the worst effects of China’s steel slump will be borne by smaller, private mills.

“Baosteel can keep standing out despite the Chinese steel industry’s challenging second-half profit outlook,” Bloomberg Intelligence analyst Michelle Leung wrote in a note.

Other major Chinese mills including Maanshan Iron & Steel Co. Ltd. and Hesteel Co. Ltd. are due to release first-half earnings this week.

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(Bloomberg) — The average Chinese citizen can expect to live two years longer thanks to the country’s push for cleaner skies, according to the University of Chicago.

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China has reduced air pollution by 41% in the decade through 2022 due to the success of stricter public policies, the university’s Energy Policy Institute said in a report on Wednesday. The government’s National Air Quality Action Plan was launched after harmful smog peaked in 2013, targeting fewer cars on the road, cuts to steel capacity and bans on coal-fired power plants in major urban areas.

Other measures included encouraging the adoption of renewables and the switch from coal to cleaner-burning natural gas.

China accounts for 20% of global health problems associated with air quality, and pollution levels in the country are still 5.6 times higher than the World Health Organization’s guideline, according to the report. Only tobacco use is a bigger threat to life expectancy, and meeting the WHO’s pollution target would add another 2.3 years to the nation’s average life span.

The government’s latest goal, introduced in November 2023, is to cut smog by 10% in major cities from 2020 levels by the end of next year.

Air pollution around the world is highly unequal, according to the report, which found that people in the worst affected areas breathe air that is six times more polluted than those in the least affected. As a result, their life expectancy falls by an average of 2.7 years compared to those living in the cleanest places.

On the Wire

China’s steel-industry slowdown looks set to deepen, with BHP Group Ltd., the world’s biggest miner, and China Baowu Group Ltd., the top iron ore buyer, flagging concerns as demand fades after decades of growth.

Fortescue Ltd. reported a small increase in full-year profit, but the fourth-largest iron ore miner missed analyst forecasts as it battled inflationary pressures while weathering a slowdown in demand for the steelmaking material from biggest customer China.

BHP Group Ltd. offered a cautious near-term outlook for copper, while sticking to the widely-held view that the energy transition metal is eventually headed for severe shortages and much higher prices.

This Week’s Diary

(All times Beijing unless noted.)

Wednesday, Aug. 28:

• CCTD’s weekly online briefing on Chinese coal, 15:00

• PetroChina earnings briefing in HK, 16:00

• Qingdao Multinationals Summit, day 2

• EARNINGS: Cnooc, BYD, Gotion, Ganfeng Lithium, CNGR, Chalco, Jiangxi Copper

Thursday, Aug. 29:

• Baosteel online earnings briefing in HK, 14:00

• Cnooc earnings briefing in HK, 16:15

• Qingdao Multinationals Summit, day 3

• EARNINGS: Longi, Tongwei, Windey, GCL-Poly, Hesteel, Shandong Steel, Maanshan Steel, GEM, Ningbo Shanshan, China MCC, Cosco

Friday, Aug. 30

• China weekly iron ore port stockpiles

• CMOC online earnings briefing, 10:00

• Shanghai exchange weekly commodities inventory, ~15:00

• EARNINGS: Tianqi, Jinko, JA Solar, Ming Yang, Yangtze Power, Three Gorges, Shenhua, Angang Steel, Citic Ltd.

Saturday, Aug. 31

• China’s official PMIs for August, 09:30

Sunday, Sept. 1

• China International Steel Congress in Shanghai, (through Sept. 2)

Listen on Zero: The Chinese Activist Who Mapped the Country's Pollution Problem

–With assistance from Rob Verdonck.

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(Bloomberg) — BHP Group Ltd. offered a cautious near-term outlook for copper, while sticking to the widely-held view that the energy transition metal is eventually headed for severe shortages and much higher prices.

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The world’s second-biggest copper supplier cut its forecast for Chinese demand this year, and warned of a modest global surplus through the end of 2025, in an overview of commodities markets released with its full-year earnings. But it predicted a “fly-up pricing regime” later this decade, driven by a prolonged worldwide deficit.

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Copper jumped as much as 1.8% on the London Metal Exchange on Tuesday, to the highest since July 18.

BHP’s commentary reflects softening expectations across metals markets as China grapples with slowing economic growth and a protracted property crisis. Copper prices surged to a record in May before retreating as the Chinese demand outlook deteriorated. Consumption there will grow 1% to 2% this year, down from 6% in 2023, BHP said.

“This is a downgrade to our prior expectations, which reflects the ongoing shift in the Chinese real estate market,” the miner said in the overview. There’s likely to be more volatility across commodity markets over the next 18 months, it said.

BHP reiterated its view that, over the longer term, global copper supply will struggle to match a looming wave of demand from renewable energy, data centers and a vast expansion in power grids. The metal has been the subject of eye-watering price forecasts because there are few major new mines in the pipeline.

“With the deficit conditions we anticipate in the final third of the 2020s, it’s possible that we enter into a ‘fly-up’ pricing regime, whereby prices disconnect from the cost curve due to systematic excess of demand over supply amid inadequate inventory levels.”

–With assistance from Mark Burton.

(Updates copper price in third paragraph.)

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Nvidia (NVDA)

Nvidia is set to beat previous results when it publishes earnings on Wednesday. For the quarter, the chipmaker is expected to report adjusted earnings per share (EPS) of $0.65 on revenue of $28.7bn (£21.7bn). That works out to a 139% jump in EPS and a 113% increase in revenue compared to the same period a year ago when Nvidia saw EPS of $0.27 and revenue of $13.5bn.

Nvidia is the world leader in AI chip design and software, controlling between 80% and 95% of the market, according to Reuters. And it’s expected to continue to hold that lead as it begins rolling out its next-generation Blackwell line of chips.

The most anticipated results of the quarter will send ripple effects throughout the tech sector as investors look for signs that the AI trade will continue to dominate market conversations into the second half of the year.

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Nvidia stock is up more than 163% year to date and 60% in the last six months. Rival AMD’s (AMD) stock price is up 9% year to date and down some 14% over the last six months.

Nigel Green of deVere Group said: “The company has become the undisputed leader in artificial intelligence (AI) chips, a market segment that is poised to reshape industries across the globe. In a world increasingly dominated by AI-driven technologies, Nvidia stands head and shoulders above the competition.

"The company’s cutting-edge GPUs, particularly its Hopper architecture, are driving massive demand, and there is no clear competitor in sight that can match its performance.

“The result? A stratospheric rise in Nvidia’s stock and market cap that has far outpaced broader market gains.”

BHP (BHP.L)

Miner BHP is set to boost copper production after its mainstay iron ore business suffered from China’s economic slowdown.

The FTSE 100 (^FTSE) group said it expects Chinese steel demand to remain depressed in 2024.

Consumption of iron ore has been hammered by a slowdown in China, where fewer buildings are being constructed, dampening demand for steelmaking iron ore. Almost two-thirds of BHP’s revenues come from iron ore, with under one-third coming from copper.

BHP chief executive Mike Henry said: “In the near term, we expect volatility in global commodity markets, with China experiencing an uneven recovery among its end-use sectors. The effectiveness of recently announced pro‑growth policies will be an important contributor for the country to achieve its official 5% growth target.”

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BHP’s revenue for the year ending in June rose 3% to $55.7bn, while underlying net profit grew 2% to $13.7bn.

However, its total profit attributable to shareholders fell 39% after a $2.7bn write down in the value of its Australian nickel operations, and a $3.8bn charge related to a dam collapse in Brazil.

The firm also cut its full-year dividend by 14% to $1.46 to reflect higher investment in new projects.

Shares were 1.5% higher at the time of writing.

Ryanair (RYA.IR)

Ryanair shares rose more than 6% on Tuesday after the airline's boss Michael O'Leary said fare decreases will be limited to 5%, reassuring investors who had feared steeper reductions in prices.

Last month the biggest airline in Europe warned that fares could drop by more than 10% as it missed analyst estimates for sales. Shares in the airline plunged 15% last month on the back of the news.

The risk of what O'Leary at the time called an "ugly scenario" of double-digit falls in average fares "looks like it has disappeared."

"While fares were kind of softening during April, May and June, that has levelled out," he said.

Asked if Ryanair was still seeing price resistance when it tried to raise prices on last-minute fares, O'Leary said: "It's not the same price resistance."

Brent Crude oil (BZ=F)

Brent oil prices were steady on Tuesday, stabilising after three consecutive sessions of gains that saw prices climb roughly 7%.

Crude traded at about $81 a barrel after rising 7% in the sharpest three-day rally since April last year, while West Texas Intermediate was near $77.

“These gains were fuelled by expectations of interest rate cuts in the US, which became the dominant market narrative after the Federal Reserve chairman signalled an easing off of the monetary policy brakes," said Ricardo Evangelista, senior analyst at ActivTrades.

"Jerome Powell hinted at a rate cut in September and left the door open for additional cuts before the year's end, bolstering the outlook for economic growth and, consequently, oil demand.”

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“Meanwhile, in the Middle East, tensions remain high between Israel, Iran, and its proxies, raising the threat of an all-out war that could severely disrupt the global supply of crude.”

"Adding to supply concerns, the potential closure of oil fields in Libya could, if confirmed, remove more than a million barrels per day from an already tight market.”

“Against this backdrop, with pressures mounting from both the supply and demand sides, there may be room for further gains in oil prices.”

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(Bloomberg) — BHP Group Ltd. will focus on boosting returns from its burgeoning copper portfolio, the world’s biggest miner said on Tuesday, as it bets long-term gains for the crucial new-energy metal will help offset declining returns from iron ore as Chinese demand cools.

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Chief Executive Officer Mike Henry, announcing full-year profit broadly in line with market expectations, underlined the mining giant’s efforts to double down on its own projects and mines — even after appetite for the red metal motivated last month’s acquisition of Filo Corp. jointly with Lundin Mining Corp., and, earlier in the year, the failed $49 billion effort to take over smaller rival Anglo American Plc.

“The Plan A for BHP was never about acquisitions and it wasn’t about that specific opportunity,” Henry told Bloomberg Television, when asked if the company could revive its Anglo bid. “It was about everything that you see in this set of results, which is focusing — first and foremost — on ensuring that we’re getting the most out of our capital.”

In the near-term, though, BHP underlined the impact China’s uneven recovery and volatility in global commodity markets, with iron ore supply outpacing demand into next year as surplus steel floods the market.

“What we’re seeing play out in the market is really a fine balance between steel demand and iron ore supply,” Henry said.

China’s slowing economy and languishing property market are damping demand for metals, especially steelmaking staple iron ore, which accounts for almost two-thirds of BHP’s revenue. The head of China Baowu Steel Group Corp., the country’s biggest steel producer, warned this month the industry faced a situation worse than crises in 2008 and 2015.

Both iron and copper have weakened since the end of the reporting period, potentially signaling more challenging times ahead.

Headline earnings still underscored the continued resilience of the miner’s core iron ore and copper operations. Underlying attributable profit came in at $13.66 billion for the year through June, up 2% from the year earlier and just above analysts’ estimate of $13.49 billion. The company’s share price rose as much as 2.7% in Sydney following the earnings release.

The company spent $9.3 billion in capital and exploration in the period, up 31% from the year before. It aims to expand that spending to $11 billion by fiscal 2026, with two third of the amount on copper and potash.

The red metal currently generates just under 30% of BHP’s sales. Output rose 9% over the year through June, and the company is forecast a further 4% expansion this year, an improvement on peers who have seen less reliable increases.

“What was positive was just the continued focus on copper growth – the amount of options they have in their portfolio and what levers they can eventually pull,” RBC Capital Markets analyst Kaan Peker said. While concerns remained around China’s slowdown in iron ore and steel demand, there was a sense from BHP “that maybe the demand picture isn’t as negative as it seems,” he added.

Potash Play

BHP’s overall revenue rose 3%. Higher sales volumes and relatively strong prices for iron ore and copper were partially offset by lower coal prices and a crash in nickel, caused by a surge of cheap Indonesian material that ultimately prompted the miner to shutter its Nickel West business.

Potash may prove another bright spot for BHP. Its $14 billion potash mine in Canada’s Saskatchewan region is expected to produce more than 4 million tons of the crop nutrient annually from 2026. Last year, BHP approved an expansion to more than double the production.

The Melbourne-based company is looking at a potential expansion of its Western Australia iron ore business to lift output to 330 million tons annually, compared with 260 million tons in the year just completed. Henry said that was contingent on market factors, and that China’s steel demand had plateaued.

“Some sectors of the Chinese economy that drive steel demand, such as shipbuilding and the auto industries, are actually performing quite healthily,” Henry said.

BHP is the latest diversified miner to demonstrate heft can, for now, help weather the China property storm. Rio Tinto Group’s first-half profit was slightly higher than a year earlier. Vale SA — the world’s No. 2 iron ore producer — posted second-quarter earnings that were only just below analyst estimates.

BHP will pay a final dividend of 74 cents per share, compared with 80 cents a year ago.

–With assistance from James Mayger, Haidi Lun and Sybilla Gross.

(Updates with Henry comments in 3rd, 5th paragraphs; analyst comment in 10th)

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In economic circles copper is sometimes called “Doctor Copper” because it’s a good indicator of the overall health of the economy. If mining giant Southern Copper’s results are any indication, the economy just got over a cold and is feeling fine. On Tuesday, the Relative Strength (RS) Rating for Southern Copper rose to 83, up from 80 the day before.

BHP Group BHP reported a 2% year-over-year increase in underlying attributable profit from continuing operations at $13.7 billion for fiscal 2024 (ended June 30, 2024).  The growth was attributed to higher prices and sales volumes in BHP’s iron ore and copper operations, productivity initiatives, cost discipline and favorable raw material costs. This offset the impact of lower energy coal and nickel prices and higher labor costs on profits.

BHP’s underlying earnings per share were $2.70 compared with $2.65 in fiscal 2023. Earnings per American Depositary Share (ADS) were $5.39s, higher than $5.30 in the previous fiscal year. The metric missed the Zacks Consensus Estimate of $5.52. BHP’s each ADS represents two fully-paid ordinary shares.

BHP’s FY24 Revenues Up 3%

Revenues for fiscal 2024 totaled $55.7 billion, which beat the Zacks Consensus Estimate of $54 billion. The top line was 3.4% higher than the prior fiscal year. The improvement was due to higher prices and sales volumes for iron ore and copper compared with the prior fiscal.   This was offset by lower energy coal and nickel prices, and lower steelmaking coal volumes following the divestment of Blackwater and Daunia on April 2, 2024.

The Iron ore segment’s revenues rose 13% year over year to around $28 billion and revenues in the Copper segment increased 16% to $18.6 billion. Both segments benefited from higher volumes and prices. The Coal segment’s revenues plunged 30% to $7.7 billion.

BHP Delivers Solid Production Numbers for Iron & Copper

The company’s total iron ore production for fiscal 2024 was a record 260 Mt, up 1% year over year. Western Australia Iron Ore (WAIO)  delivered a record iron ore production of 255 Mt (287 Mt on a 100% basis). This reflects solid supply-chain performance with increased capacity unlocked by the record production at South Flank. These gains helped offset the impacts of the continued tie-in activity for the Rail Technology Program 1.

Copper production rose 9% year over year to 1,865 kt, the highest in 15 years. Nickel production was up 2% to 81.6 kt

BHP Witnesses 4% Rise in EBITDA

Underlying earnings before interest, taxes, depreciation and amortization (EBITDA) increased 4% from the prior fiscal to $29 billion. Higher revenues and lower diesel and acid prices were offset by higher labor costs. Productivity initiatives and BHP’s efforts to control costs offset higher labor costs. The underlying EBITDA margin was 54%, flat with the prior fiscal.

For the Iron ore segment, underlying EBITDA was up 13% year on year to $18.9 billion while the Copper segment’s underlying EBITDA increased 29% to $8.6 billion. The Coal segment’s underlying EBITDA plunged 54% year over year to $2.3 billion.

Profit from operations (including exceptional items of $6.1 billion) declined 24% year over year to $17.5 billion.

In fiscal 2024, BHP’s attributable profit (for total operations) declined 39% year over year to $7.9 billion, which included an exceptional loss of $5.8 billion. The figure of $5.8 billion includes a $2.7 billion impairment of Western Australia Nickel and a $3.8 billion charge related to the Samarco dam failure, offset by a gain of $0.7 billion on disposal of the Blackwater and Daunia mines.

BHP’s Cash Flow Improves, Debt Down

Net operating cash flow for fiscal 2024 was $20.7 billion compared with $18.7 billion in fiscal 2023. The improvement was attributed to lower tax and royalty-related taxation finalization payments compared with the prior fiscal. BHP Group reported a free cash flow of $11.9 billion, a significant improvement from $5.6 billion in fiscal 2023.

The company invested $9.3 billion in line with its Capital Allocation Framework. This included $5.9 billion in organic development and $3 billion in maintenance and decarbonization. BHP’s cash and cash equivalents as of June 30, 2024, amounted to $12.5 billion compared with $12.4 billion as of June 30, 2023. Capital and exploration expenditures totaled $9.3 billion, up 31% from the prior fiscal year.

Backed by its solid cash flow, BHP continued to repay debt and as of the end of fiscal 2024, net debt was $9.1 billion compared with $11.2 billion as of fiscal 2023 end.

BHP has budgeted capital and exploration expenditures in fiscal 2024 and 2025 to be $10 billion and $11 billion, respectively.

BHP’s board has announced a dividend of 74 cents per share or a total of $3.8 billion. This translates to a payout ratio of 53%.

BHP’s Production & Unit Cost Guidance for FY25

BHP’s iron ore production guidance for fiscal 2025 is in the range of 255-265.5 Mt. WAIO's production is expected to be between 250 Mt and 260 Mt (282 Mt and 294 Mt on a 100% basis).

The company expects copper production to be within the range of 1,845-2,045 kt. Production guidance for metallurgical coal is in the band of 16.5-19 Mt while the guidance for energy coal is in the range of 13-15 Mt.

Unit cost guidance for WAIO is in the range of $18.00-$19.50 per ton. Escondida unit cost is estimated to be in the band of $1.30-$1.60 per pound. Spence unit costs are expected to be between $2.00 and $2.30 per pound. Copper South Australia’s unit cost is anticipated to be between $1.30 and $1.80 per pound. BMA unit cost is expected to be between $112 and $124 per ton.

BHP Stock’s Price Performance

BHP Group’s shares have fallen 18.4% year to date compared with the industry’s 10.1% decline.

Zacks Investment Research

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BHP’s Zacks Rank & Other Key Picks

BHP Group currently carries a Zacks Rank #2 (Buy). Some other top-ranked stocks from the basic materials space are Carpenter Technology Corporation CRS, IAMGOLD Corporation IAG and Eldorado Gold Corporation EGO. CRS, IAG and EGO sport a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Carpenter Technology’s fiscal 2025 earnings is pegged at $6.06 per share. The consensus estimate for  earnings has moved 17% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 15.9%. CRS shares have gained 102.5% year to date.

The consensus estimate for IAMGOLD’s 2024 earnings is pegged at 39 cents per share. The consensus estimate for earnings has moved 44% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 200%. IAG shares have gained 104% so far this year.

The Zacks Consensus Estimate for Eldorado Gold’s 2024 earnings is pegged at $1.32 per share. The consensus estimate for earnings has moved 22% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 430%. EGO shares have gained 37% year to date.

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By Melanie Burton and Sameer Manekar

MELBOURNE (Reuters) -BHP Group will focus on growing its copper business through existing and incoming projects after its failed attempt to buy Anglo American, it said as it reported a better-than-expected 2% rise in annual underlying profit.

The world's biggest listed miner is pushing hard to expand in copper, given the commodity's outsize role in the energy transition and a tougher outlook for its top revenue generator, iron ore, as China's economic growth slows and supply rises.

BHP walked away in May from its blockbuster $49 billion bid for Anglo that would have significantly boosted its copper business and is now turning to other options.

"I was very clear at the time, it wasn't Plan A for us. Plan A is everything that you see outlined in these results," BHP CEO Mike Henry told reporters. "We continue with Plan A."

BHP unveiled more details around its spending and growth plans for key copper provinces in Chile, South Australia and Argentina after it posted an underlying attributable profit for the year ended June 30 of $13.66 billion, which excludes exceptional items.

That beat a Visible Alpha consensus of $13.26 billion and was ahead of the $13.42 billion profit a year ago, though on a bottom-line level it took a $5.7 billion hit from impairments to its nickel business in Western Australia and the 2015 dam collapse at Samarco in Brazil.

BHP shares were about 2% higher in early trade, outpacing the flat Australian benchmark index.

"They have clearly laid out capex and growth expectations for copper where they are still looking at copper as a key commodity, clearly," said Andy Foster, a portfolio manager at Argo Investments. "It's just been so hard to execute large-scale acquisitions so you have to make the most of your existing assets and then look at other opportunities."

Copper accounts for about 30% of the miner's profits but that is set to increase. In South Australia it is assessing options to produce more than 500,000 metric tons of copper annually in the early 2030s, up from 322,000 tons in the last financial year.

BHP said last month it would jointly take over Filo Corp for its copper growth projects near the Argentine-Chilean border, paying C$4.5 billion ($3.25 billion) with Canada's Lundin Mining.

UK regulations bar BHP from making another offer for Anglo until November, should it still want to do so. Henry said BHP had no interest in a separate purchase of Anglo's coking coal assets.

Still, BHP said it was keeping its balance sheet flexible.

"We are comfortable to move above our net debt target temporarily to execute value accretive opportunities in the portfolio," the miner said.

Net debt stood at $9.1 billion as of June 30, roughly at the midpoint of its target range of $5 billion and $15 billion.

BHP's profit was underpinned by record iron ore output for a second year and resilient prices, which offset weak coal prices and the sale of two of its coal mines.

The miner said the outlook for iron ore in the current financial year would depend in part on how quickly and effectively Chinese policies were able to stabilise its weak property sector as well as Beijing's approach to regulating steel production.

BHP declared an interim dividend of 74 cents per share, for a full-year dividend of $1.46 per share. That was its lowest full-year dividend since the 2020 financial year but still among the top four it has declared in its history.

(Reporting by Sameer Manekar in Bengaluru and Melanie Burton in Melbourne; Editing by Arun Koyyur and Jamie Freed)

Earnings season is winding down but investors will still have plenty to watch this week as key companies across various sectors provide updates that could offer valuable insights into market trends.

In the tech sector, AI darling Nvidia is expected to offer a glimpse into the ongoing impact of the artificial intelligence (AI) hype on the semiconductor industry, potentially revealing whether enthusiasm for AI is translating into tangible growth.

Meanwhile in London, financial services firm Prudential will show investors if it has managed to turn around its performance. Shares in the company have slumped amid less than stellar performance of the Hong Kong and China economies.

CrowdStrike will also report its results in the cybersecurity arena, with investors eager to see how the company behind the recent global outage is performing.

In the sneaker fashion world, Foot Locker is seeing analysts upgrading its stock ahead of earnings but Wall Street still expects a quarterly loss.

Here's what to look out for:

Nvidia (NVDA) — Reports second-quarter results on Wednesday 28 August

All eyes will be on Nvidia (NVDA) this week, as the chip giant at the heart of the AI boom, is set to release its second-quarter results on 28 August.

Not only does Nvidia hold an 80% to 95% share of the market for high-powered AI chips, according to Reuters, but it is also the world’s third-largest company by market capitalisation at $3.04tn (£2.31tn), having briefly held the top spot back in June.

The AI darling is the single best performer in the S&P 500 (^GSPC) index and a leading member of the Philadelphia Semiconductor index — known as the SOX (SOX=F) — point out AJ Bell’s head of financial analysis Danni Hewson and Dan Coatsworth, investment analyst for the platform.

Nvidia is also part of the so-called 'Magnificent Seven', which alongside other tech heavyweights including Apple (AAPL) and Microsoft (MSFT), is a group of stocks that make up more than a third of the S&P 500’s stock market value and a fifth of the FTSE All-World (AW01.FGI) equity index’s market capitalisation.

“These seven names have gone a long way to helping equity markets go higher, so if they stumble then the effects could be felt widely,” say Hewson and Coatsworth.

Nvidia shares are up 149.87% year-to-date, though the stock sold off heavily in July and into early August. The share price has recovered some ground since then but fell 3% in Thursday’s trading session ahead of the highly anticipated earnings report next week.

Read more: FTSE 100 LIVE: European stocks advance as UK energy price cap rises to £1,717

“From a fundamental, earnings point of view, Nvidia has demolished consensus estimates and raised guidance for each of the past five quarters, which helps to explain its stellar share price performance,” say Hewson and Coatsworth.

Nvidia said it expects revenues of $28bn for the second-quarter, which is more than double the $13.5bn it reported for the same period last year. If Nvidia CEO Jensen Huang offers any steer on the third quarter, Hewson and Coatsworth say the current consensus forecast on revenue is $30.7bn, versus $18.1bn for Q3 last year.

Based on Huang’s guidance for gross margins, operating expenses and tax charges, Hewson and Coatsworth said this implies a net profit of $15bn for the second quarter, which is more than double the figure reported last year, but broadly flat on the previous quarter. They said this also suggests headline earnings per share (EPS) of $0.63 for Q2, up from $0.61 in the first quarter.

Looking ahead, they said that analysts will be keeping an eye out for comments from Huang on reported delays in the launch of Nvidia’s new Blackwell chips.

“Production of Blackwell was due to ramp up in the second half of this year, as Nvidia looks to maintain its technological lead by quickly improving upon the Hopper chipset,” Hewson and Coatsworth said.

Prudential (PRU.L) — Reports first-half results on Wednesday 28 August

Another company reporting on Wednesday is financial services firm Prudential, which has seen its shares fall by nearly a third over the past year, slumping to 12-year lows.

AJ Bell’s Hewson and Coatsworth said that the shares have been “dragged down by markets’ disappointment with how the economies of Hong Kong and China are failing to show markedly improved momentum after the conclusion of their lengthy lockdowns imposed because of Covid-19.”

They explained that Prudential is now a play on demand for financial services in Asia and Africa, following the spin-off of fund manager M&G (MNG.L) in 2019, a fundraising in Hong Kong in 2021 and its 2022 demerger from Jackson Financial (JXN).

“Prudential’s long-term strategy is to position itself for both population growth as well as increased prosperity and the rise of the middle class, as this is potentially the sweet spot for increased demand for financial products and services,” Hewson and Coatsworth said.

Hong Kong was Prudential’s most profitable market in 2022, followed by Singapore, Mainland China, Malaysia and Indonesia, with it highlighting India, Vietnam, Thailand, Taiwan and the Philippines as high-growth markets.

Read more: 'We've grown £11m pizza delivery sales with no experience'

Prudential’s CEO Anil Wadhwani, who took the reins earlier last year, set out two new financial objectives, one of which was to achieve a compound growth of 15% to 20% in new business profit between 2022 and 2027.

New business profit jumped 45% to $3.1bn in 2023, but Hewson and Coatsworth note that this was flat in the first quarter of 2024 on a constant currency basis, despite the firm pointing to a headline figure of 11% growth “excluding economic impacts” on a constant currency basis.

Another metric that they said would be in focus is Prudential’s operating profit, which on an adjusted basis came in at $2.9bn in 2023, up 8% on the previous year.

Prudential paid out a dividend of 20.47 cents (16.5p) per share in 2023, with Hewson and Coatsworth saying that analysts expect a 6% increase in these distributions to the equivalent of 17.5p a share. The company announced a 2023 first interim dividend of 6.26 cents, or 5.16p, per share.

Hewson and Coatsworth said that another figure that investors will be looking at is Prudential’s annual premium equivalent, as a measure of new business written. This increased by 37% to $5.9bn in 2023 and grew by 7% on a constant currency basis in the first quarter of this year, “thanks to a tough base for comparison in Hong Kong and China and a slowdown in Vietnam".

CrowdStrike (CRWD) – Reports second quarter results on Wednesday 28 August

CrowdStrike is set to report its second-quarter financial results on Wednesday 28 August with the market keenly focused on the aftermath of the July IT outage that has significantly impacted the company’s valuation.

The cloud-based security company is expected to post quarterly earnings of $0.98 per share in its upcoming report, which represents a year-over-year change of +32.4%, according to Zachs Research. Revenues are expected to be $958.66m, up 31% from the year-ago quarter.

The cybersecurity leader has seen its market value sharply decline after its involvement in a Microsoft-related IT disruption that caused widespread chaos. The incident, attributed to “a single content update for Windows hosts”, led to severe disruptions across various sectors, including airlines, emergency services and media outlets globally, according to CrowdStrike president George Kurtz.

In the wake of the outage, businesses affected have initiated legal action against both CrowdStrike and Microsoft. Notably, Atlanta-based Delta Air Lines (DAL) has filed claims, citing losses ranging from $350m to $500m after being forced to cancel more than 6,000 flights.

As investors await CrowdStrike’s earnings call, they are particularly interested in how the ongoing legal challenges will impact the company’s financial health. However, Wedbush analysts have suggested that the financial damage may be less severe than initially anticipated.

Read more: McDonald's targeted by grimace memecoin promoters

According to legal experts cited by Wedbush, CrowdStrike’s potential liabilities from Delta’s lawsuit are likely to be in the "single-digit" millions, thanks to favourable user contracts that limit the company’s exposure to claims for revenue losses and liability.

Despite these reassurances, there are concerns that the reputational damage from the outage could lead to a loss of future business, a risk that may weigh on CrowdStrike's long-term prospects.

Citi (C) analysts said that CrowdStrike won't come out of the incident "unscathed" given higher discounts, lower negotiating leverage, and litigation costs it now faces.

Foot Locker (FL) – Reports second quarter results on Wednesday 28 August

Citi has revised its outlook on Foot Locker, increasing the price target from $27 to $33, while maintaining a Neutral rating on the stock. This change comes in anticipation of Foot Locker’s second-quarter earnings report on Wednesday before the US bell.

Citi's analysis say Foot Locker may outperform consensus expectations for both sales and earnings per share in the second quarter.

Its optimism is driven by stronger-than-expected comparable store sales and gross margins, bolstered by the robust performance of several key brands in Foot Locker’s portfolio, including Adi Terrace, New Balance, Hoka, and On.

Despite underperformance from Nike (NKE), Foot Locker’s largest brand, Citi believes the retailer will show a positive inflection in comparable sales for the second quarter, recovering from last year’s promotional pressures that negatively impacted gross margins.

The retailer is expected to report a quarterly loss of $0.09 per share, reflecting a year-over-year decline of 325%. However, revenues are projected to reach $1.88bn, marking a 0.9% increase compared to the same quarter last year, according to Zachs Research.

Foot Locker’s management is expected to reaffirm its fiscal year 2024 guidance, though third-quarter projections may come in below consensus due to anticipated weaker gross margins.

Recent analyst actions showcase a range of views on Foot Locker’s prospects. Following a disappointing first-quarter performance in 2024, Morgan Stanley downgraded the stock from Equalweight to Underweight, lowering the price target to $18 due to a more cautious outlook for 2024 (EPS, driven by expectations of a decline in both top-line growth and gross margins).

Argus also maintained a Hold rating on Foot Locker, expressing caution about near-term earnings pressure as the company navigates a strategic transformation. Conversely, Jefferies, Barclays and Telsey Advisory Group have raised their price targets to $26, $27, and $27, respectively, recognising Foot Locker’s recent performance.

Other companies reporting next week include:

Monday 26 August

No major companies reporting

Tuesday 27 August

CNOOC (600938.SS)

BHP (BHP.L)

Vinci (DG.VI)

Wednesday 28 August

Hochschild Mining (HOC.L)

Cosco Shipping (CICOF)

Air China (AIRYY)

China Construction Bank (601939.SS)

Wuliangye Yibin (000858.SZ)

Ageas (AGS.BR)

Brunello Cucinelli (8BU.F)

NetApp (NTAP)

Bath & Body Works (BBWI)

Abercrombie & Fitch (ANF)

Campbell Soup (CPB)

Kohl’s (KSS)

JM Smucker (SJM)

Thursday 29 August

South32 (S32.AX)

Qantas (QAN.AX)

Pernod Ricard (RI.PA)

Delivery Hero (DHER.HM)

Friday 30 August

Dell (DELL)

Marvell (MRVL)

Dollar General (DG)

Brown-Forman (BF-B)

Best Buy (BBY)

Birkenstock (BIRK)

You can read Yahoo Finance's full calendar here.

Download the Yahoo Finance app, available for Apple and Android.

VANCOUVER, BC, Aug. 26, 2024 /CNW/ – Filo Corp. (TSX: FIL) (Nasdaq First North Growth Market: FIL) (OTCQX: FLMMF) ("Filo" or the "Company") is pleased to announce that the Ontario Superior Court of Justice (Commercial List) (the "Court") has issued an interim order (the "Interim Order") regarding the Arrangement (as defined below) and authorizing Filo to proceed with various matters relating thereto, including among other things, the calling and holding of a special meeting of the Shareholders (as defined below) of Filo (the "Meeting") to consider and vote on the proposed Arrangement. View PDF

At the Meeting, holders of the common shares ("Filo Shares") of the Company (the "Shareholders"), and their duly appointed proxyholders will be asked to consider, and if thought fit, to pass, a special resolution relating to a proposed plan of arrangement whereby BHP Investments Canada Inc. ("BHP"), a wholly-owned subsidiary of BHP Group Limited and Lundin Mining Corporation (TSX:LUN) (OMX:LUMI) (together with BHP, the "Purchaser Parties") will, among other things, acquire all of the issued and outstanding shares of the Company not already owned by the Purchaser Parties and their respective affiliates by way of a court-approved plan of arrangement under the Canada Business Corporations Act (the "Arrangement") in accordance with the terms of an arrangement agreement among Filo and the Purchaser Parties (the "Arrangement Agreement").

A special committee comprised of only independent directors of Filo unanimously recommended the Arrangement to the board of directors of the Company (the "Filo Board"). The Filo Board unanimously approved the Arrangement and the Arrangement Agreement and unanimously recommends that the Shareholders vote FOR the Arrangement.

The Meeting will be held in a virtual only format, which will be conducted via live audio webcast  at meetnow.global/MGK95K9 on Thursday, September 26, 2024 at 10:00 a.m. (Vancouver time).

The anticipated hearing date for the application for the final order of the Court (the "Final Order") is October 2, 2024. Subject to obtaining the required approval of the Shareholders at the Meeting, the Final Order and the satisfaction or waiver of the conditions to implementing the Arrangement as set out in the Arrangement Agreement, the Arrangement is anticipated to be completed in the first quarter of 2025.

Meeting materials including a management information circular and related meeting materials are scheduled to be mailed on or about September 3, 2024 to Shareholders of record as of the close of business on August 20, 2024, in accordance with statutory requirements and the Interim Order. A copy of the Interim Order will be included in the management information circular. Upon completion of the mailing to Shareholders, the materials for the Meeting will be filed by the Company on SEDAR+ and will be available thereat under the Company's profile at www.sedarplus.ca and on the Company's website at https://filocorp.com/investors/corporate-filings/.

About Filo Corp.

Filo is a Canadian exploration and development company focused on advancing its 100% owned Filo del Sol copper-gold-silver deposit located in San Juan Province, Argentina and adjacent Region III, Chile. The Company's shares are listed on the TSX and Nasdaq First North Growth Market under the trading symbol "FIL", and on the OTCQX under the symbol "FLMMF".

Additional Information

The Company's certified adviser on the Nasdaq First North Growth Market is Aktieinvest FK AB, +46 8 506 51703, rutger.ahlerup@aktieinvest.se.

The information contained in this news release was accurate at the time of dissemination, but may be superseded by subsequent news release(s).

The information was submitted for publication by the contact persons below on August 26, 2024 at 7:30pm EDT.

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Twitter:                https://twitter.com/filo_corp  LinkedIn:             https://www.linkedin.com/company/filocorp/  Instagram:          https://www.instagram.com/filo_corp/ Facebook:           https://www.facebook.com/FiloCorpOfficial

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION:

This press release may contain certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking information") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding the Meeting, the mailing and filing of the Meeting materials and the approval of the Arrangement by the Shareholders, may be forward-looking information. Forward-looking information is frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved.

Forward-looking information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. Important factors that could cause actual results to differ materially from the Company's expectations include failure to receive the required court and regulatory approvals to effect the Arrangement; changes in laws, regulations and government practices; the potential of a third party making a superior proposal to the Arrangement; risks pertaining to the outbreak of the global pandemics; government regulation of mining operations; environmental risks; and other risks and uncertainties disclosed in the Company's periodic filings with Canadian securities regulators and in other Company reports and documents filed with applicable securities regulatory authorities from time to time, including the Company's Annual Information Form available under the Company's profile at www.sedarplus.ca and the Meeting materials that will be made available under the Company's profile at www.sedarplus.ca. The Company's forward-looking information reflects the beliefs, opinions, and projections on the date the statements are made. The Company assumes no obligation to update the forward-looking information or beliefs, opinions, projections, or other factors, should they change, except as required by law.

Filo Obtains Interim Order (CNW Group/Filo Corp.)

SOURCE Filo Corp.

Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/August2024/26/c8144.html

VANCOUVER, BC, Aug. 24, 2024 /CNW/ – (TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") is pleased to announce today that an agreement has been reached with the union at Caserones and accepted by the majority of the union members through a vote. Further to the press release dated August 12, 2024 entitled "Lundin Mining Provides Update on Labour Negotiations at its Caserones Mine", a new collective bargaining agreement will be signed imminently. The Company will now focus on a safe back-to-work plan and an efficient ramp-up of operations which has been running at approximately 50% capacity during the labour action. View PDF version

About Lundin Mining

Lundin Mining is a diversified Canadian base metals mining company with operations and projects in Argentina, Brazil, Chile, Portugal, Sweden and the United States of America, primarily producing copper, zinc, gold and nickel.

The information was submitted for publication, through the agency of the contact persons set out below on August 24, 2024 at 17:00 Vancouver Time.

Cautionary Statement on Forward-Looking Information 

Certain of the statements made and information contained herein are "forward-looking information" within the meaning of applicable Canadian securities laws. All statements other than statements of historical facts included in this document constitute forward-looking information, including but not limited to statements regarding the Company's plans, prospects and business strategies; the Company's approach to resolution and procedures regarding the strike and its expectations regarding the return to normal operations; the Company's guidance on the timing and amount of future production and its expectations regarding the results of operations; expected costs; permitting requirements and timelines; timing and possible outcome of pending litigation; the results of any Preliminary Economic Assessment, Pre-Feasibility Study, Feasibility Study, or Mineral Resource and Mineral Reserve estimations, life of mine estimates, and mine and mine closure plans; anticipated market prices of metals, currency exchange rates, and interest rates; the development and implementation of the Company's Responsible Mining Management System; the Company's ability to comply with contractual and permitting or other regulatory requirements; anticipated exploration and development activities at the Company's projects; expansion projects and the realization of additional value;  expectations regarding, and ability to complete, the acquisition of Filo Corp. and the 50/50 joint venture with BHP; the anticipated development and other plans with respect to the acquisition and joint venture; the Company's integration of acquisitions and expansions and any anticipated benefits thereof; and expectations for other economic, business, and/or competitive factors. Words such as "believe", "expect", "anticipate", "contemplate", "target", "plan", "goal", "aim", "intend", "continue", "budget", "estimate", "may", "will", "can", "could", "should", "schedule" and similar expressions identify forward-looking information.

Forward-looking information is necessarily based upon various estimates and assumptions including, without limitation, the expectations and beliefs of management, including that the Company can access financing, appropriate equipment and sufficient labour; assumed and future price of copper, zinc, gold, nickel and other metals; anticipated costs; ability to achieve goals; the prompt and effective integration of acquisitions; that the political environment in which the Company operates will continue to support the development and operation of mining projects; and assumptions related to the factors set forth below. While these factors and assumptions are considered reasonable by Lundin Mining as at the date of this document in light of management's experience and perception of current conditions and expected developments, these statements are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking information and undue reliance should not be placed on such information. Such factors include, but are not limited to: the inability to resolve labour disruptions; global financial conditions, market volatility and inflation, including pricing and availability of key supplies and services; risks inherent in mining including but not limited to risks to the environment, industrial accidents, catastrophic equipment failures, unusual or unexpected geological formations or unstable ground conditions, and natural phenomena such as earthquakes, flooding or unusually severe weather; uninsurable risks; volatility and fluctuations in metal and commodity demand and prices; significant reliance on assets in Chile; reputation risks related to negative publicity with respect to the Company or the mining industry in general; delays or the inability to obtain, retain or comply with permits; risks relating to the development of the Josemaria Project; health and safety laws and regulations; risks associated with climate change; risks relating to indebtedness; economic, political and social instability and mining regime changes in the Company's operating jurisdictions, including but not limited to those related to permitting and approvals, nationalization or expropriation without fair compensation, environmental and tailings management, labour, trade relations, and transportation; inability to attract and retain highly skilled employees; risks inherent in and/or associated with operating in foreign countries and emerging markets, including with respect to foreign exchange and capital controls; project financing risks, liquidity risks and limited financial resources; health and safety risks; compliance with environmental, unavailable or inaccessible infrastructure, infrastructure failures, and risks related to ageing infrastructure; changing taxation regimes; the inability to effectively compete in the industry; the inability to currently control Filo Corp. and the ability to satisfy the conditions and consummate the acquisition of Filo Corp. and the joint venture transaction with BHP on the proposed terms and expected schedule; risks associated with acquisitions, expansions and related integration efforts, including the ability to achieve anticipated benefits, unanticipated difficulties or expenditures relating to integration and diversion of management time on integration; risks related to mine closure activities, reclamation obligations, environmental liabilities and closed and historical sites; reliance on key personnel and reporting and oversight systems, as well as third parties and consultants in foreign jurisdictions; information technology and cybersecurity risks; risks associated with the estimation of Mineral Resources and Mineral Reserves and the geology, grade and continuity of mineral deposits including but not limited to models relating thereto; actual ore mined and/or metal recoveries varying from Mineral Resource and Mineral Reserve estimates, estimates of grade, tonnage, dilution, mine plans and metallurgical and other characteristics; ore processing efficiency; community and stakeholder opposition; regulatory investigations, enforcement, sanctions and/or related or other litigation; financial projections, including estimates of future expenditures and cash costs, and estimates of future production may not be reliable; enforcing legal rights in foreign jurisdictions; risks associated with the use of derivatives; risks relating to joint ventures and operations; environmental and regulatory risks associated with the structural stability of waste rock dumps or tailings storage facilities; exchange rate fluctuations; compliance with foreign laws; potential for the allegation of fraud and corruption involving the Company, its customers, suppliers or employees, or the allegation of improper or discriminatory employment practices, or human rights violations; risks relating to dilution; risks relating to payment of dividends; counterparty and customer concentration risks; activist shareholders and proxy solicitation matters; estimation of asset carrying values; relationships with employees and contractors, and the potential for and effects of labour disputes or other unanticipated difficulties with or shortages of labour or interruptions in production; conflicts of interest; existence of significant shareholders; challenges or defects in title; internal controls; risks relating to minor elements contained in concentrate products; the threat associated with outbreaks of viruses and infectious diseases; mining rates and rehabilitation projects; mill shut downs; and other risks and uncertainties, including but not limited to those described in the "Risks and Uncertainties" section of the Company's MD&A  for the three and six months ended June 30, 2024 and the "Risks and Uncertainties" section of the Company's Annual Information Form for the year ended December 31, 2023, which are available on SEDAR+ at www.sedarplus.com under the Company's profile.

All of the forward-looking information in this document are qualified by these cautionary statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, forecasted or intended and readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Accordingly, there can be no assurance that forward-looking information will prove to be accurate and forward-looking information is not a guarantee of future performance. Readers are advised not to place undue reliance on forward-looking information. The forward-looking information contained herein speaks only as of the date of this document. The Company disclaims any intention or obligation to update or revise forward‐looking information or to explain any material difference between such and subsequent actual events, except as required by applicable law.

Lundin Mining Announces Labour Agreement at Caserones Mine (CNW Group/Lundin Mining Corporation)

SOURCE Lundin Mining Corporation

Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/August2024/24/c3376.html

Vancouver, British Columbia–(Newsfile Corp. – August 21, 2024) – Flying Nickel Mining Corp. (TSXV: FLYN) (OTCQB: FLYNF) ("Flying Nickel") is pleased to announce, pursuant to the previously announced binding letter of intent with Norway House Cree Nation ("NHCN") dated July 21, 2024 (the "LOI"), that it has entered into a definitive arrangement agreement (the "Arrangement Agreement") with NHCN and 10197729 Manitoba Inc., a wholly owned subsidiary of NHCN, (the "Purchaser"), pursuant to which Flying Nickel proposes to sell its Minago Nickel project and its related assets located in the Thompson Nickel Belt of Manitoba, Canada (the "Minago Assets") to the Purchaser in consideration for $8,000,000 in cash and the surrender of 17,561,862 common shares in the capital of Flying Nickel ("Flying Nickel Shares") held by NHCN (the "Transaction") , by way of a statutory plan of arrangement under Section 288 of the Business Corporations Act (British Columbia) (the "Arrangement"). The Flying Nickel Shares held by NHCN represent approximately 11.4% of the total issued and outstanding Flying Nickel Shares. The Purchaser has deposited $500,000 in escrow in connection with the Arrangement (the "Deposit").

Information Regarding the Proposed Arrangement

Pursuant to the Arrangement Agreement, the parties have agreed to close the Transaction by no later than December 15, 2024 (the "Outside Date") and expect to close the Transaction by October 16, 2024. As NHCN holds greater than 10% of the issued and outstanding Flying Nickel Shares, the Transaction is a "related party transaction" under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101") and Policy 5.9 – Protection of Minority Security Holders in Special Transactions ("Policy 5.9") of the TSX Venture Exchange (the "TSXV"). In accordance with the provisions of MI 61-101, Flying Nickel is exempt from the formal valuation requirements under MI 61-101 and Policy 5.9 pursuant to section 4.4(a) of MI 61-101 as an issuer not listed on a specified market. However, the Arrangement requires majority of the minority shareholder approval ("Disinterested Shareholder Approval") under MI 61-101. For the purposes of Disinterested Shareholder Approval, the Arrangement must be approved at the Meeting (as defined below) by at least a majority of the votes cast on the resolution to approve the Arrangement by Flying Nickel shareholders present in person or represented by proxy and entitled to vote at the Meeting excluding all Flying Nickel Shares held by persons noted in Section 8.1(2) of MI 61-101. Therefore, Flying Nickel Shares held by NHCN will be excluded from the Disinterested Shareholder Approval. There has not been a formal valuation or prior valuation in respect of the subject matter of or relevant to the Arrangement in the prior 24 months. The Arrangement also requires approval of a special majority of 66 2/3% of the Flying Nickel shareholders present in person or represented by proxy at the Meeting. The Transaction is further subject to approvals from the TSXV and the Supreme Court of British Columbia.

The Arrangement Agreement is subject to termination in certain instances, including if the shareholders of Flying Nickel do not approve the Arrangement at the Meeting, if Flying Nickel receives a superior proposal and complies with its requirements under the Arrangement Agreement, or at the option of either party if the Arrangement is not completed before the Outside Date. For certain termination events, such as pursuant to the acceptance of a superior proposal, Flying Nickel has agreed to pay a termination fee of $400,000 (the "Termination Fee").

Details of the Arrangement (including full details of the Deposit, termination conditions, and the Termination Fee discussed herein) and the special meeting to approve the Arrangement (the "Meeting") will be set out in Flying Nickel's management information circular and proxy statement which will be mailed to Flying Nickel shareholders. The Meeting is scheduled to be held on October 7, 2024, at the offices of MLT Aikins LLP located at 2600-1066 West Hastings Street, Vancouver, British Columbia, at 10:30 a.m. (Pacific Time).

Blackstone Minerals Limited, Sparta AG, Oracle Commodity Holding Corp., and each of the directors and officers of Flying Nickel (together, the "Supporting Shareholders") have entered into voting support agreements in connection with the Arrangement. The Supporting Shareholders and NHCN collectively hold approximately 52% of the issued and outstanding Flying Nickel Shares on a non-diluted basis and the Supporting Shareholders represent approximately 45% of the Disinterested Shareholder Approval.

Completion of the Arrangement is subject to customary conditions as set out in the Arrangement Agreement and receipt of all necessary court and regulatory approvals. The Arrangement Agreement includes customary representations, warranties, and indemnities of each party.

Full details of the Arrangement will be included in the meeting materials with respect to the Meeting, which will be available on the Sedar+ profile of Flying Nickel at sedarplus.ca.

No finder's fee is expected to be paid by any of Flying Nickel, NHCN or the Purchaser to any party in connection with the Arrangement.

The Arrangement is also not expected to constitute an Arm's Length Transaction as defined in the policies of the TSXV for Flying Nickel, due to the shareholding of NHCN as described herein.

Name Change

The Company is also proposing to be renamed to "CleanTech Vanadium Mining Corp.", or such other name as the Board in its sole discretion may determine, upon the Transaction closing (the "Name Change"). The Name Change requires approval of a special majority of 66 2/3% of the Flying Nickel shareholders present in person or represented by proxy at the Meeting. Additionally, the Name Change and the particular name chosen both remain subject to TSXV and regulatory approval.

Board Recommendation

Flying Nickel confirms that after careful consideration, including a thorough review of the Arrangement Agreement, the plan of arrangement, receiving the oral fairness opinion of Evans & Evans, Inc. (which will be followed by a written option), and conducting a thorough review of other matters, the board of directors of Flying Nickel (with Neil Duboff, NHCN's nominee, having recused himself) has determined in consultation with its legal and financial advisors, and based in part on the fairness opinion, that the Arrangement is in the best interests of Flying Nickel and its shareholders, and unanimously recommends (with Neil Duboff, NHCN's nominee, having recused himself) that shareholders vote FOR the resolutions to approve the Arrangement at the upcoming Meeting. Further information regarding the reasons for the board recommendation will be set forth in the management information circular to be prepared in connection with the Meeting.

Additionally, after careful consideration, including a thorough review of the proposed Name Change, the board of directors of Flying Nickel has determined that the Name Change is in the best interests of the Company and its Shareholders, and recommends that Shareholders vote FOR the resolutions to approve the Name Change at the upcoming Meeting. Further information regarding the reasons for the board recommendation will be set forth in the management information circular to be prepared in connection with the Meeting.

About Flying Nickel Mining Corp.

Flying Nickel is an exploration-stage mining company focused on vanadium and nickel resources. The Company owns a 100% interest in the Gibellini vanadium project in Nevada, United States and a 100% interest in the Minago nickel project in the Thompson nickel belt in Manitoba, Canada.

Further information on Flying Nickel can be found at www.flynickel.com.

FOR FURTHER INFORMATION PLEASE CONTACT:

FLYING NICKEL MINING CORP.

ON BEHALF OF THE BOARD

John LeeChief Executive Officer

For more information about Flying Nickel, please contact: Suite 1610 – 409 Granville StreetVancouver, BC V6C 1T2Phone: 1.877.664.2535 / 1.877.6NICKELEmail: info@flynickel.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the Arrangement and has neither approved nor disapproved the contents of this news release.

Forward-Looking Statements and Cautionary Disclaimers

References to $ herein refer to the lawful currency of Canada.

This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.

Completion of the Arrangement and the Name Change is subject to a number of conditions, including but not limited to the standard closing conditions contained in the Arrangement Agreement, TSXV acceptance, court and shareholder approval. Where applicable, the Arrangement cannot close until the required approvals are obtained.

There can be no assurance that the Arrangement will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the management information circular to be prepared in connection with the Arrangement, any information released or received with respect to the Arrangement may not be accurate or complete and should not be relied upon. Trading in the securities of Flying Nickel should be considered highly speculative.

This news release is not an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

This news release contains certain "forward-looking statements" and "forward-looking information" under applicable Canadian and United States securities laws. Forward-looking statements and forward-looking information include, but are not limited to, statements with respect to the Arrangement including timing, closing and terms of the Arrangement, the number of Flying Nickel Shares owned and expected to be owned by certain parties who have executed voting support agreements, and the ability of Flying Nickel to obtain the requisite TSXV, shareholder, court and other approvals in connection with the Arrangement, as well as statements with respect to the Name Change including timing, the proposed name (CleanTech Vanadium Mining Corp.) and the ability of Flying Nickel to obtain the requisite TSXV, shareholder, court and other approvals in connection with the Name Change. Except for statements of historical fact relating to Flying Nickel, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as "anticipates," "may," "can," "plans," "believes," "estimates," "expects," "projects," "targets," "intends," "likely," "will," "should," "to be", "potential" and other similar words, or statements that certain events or conditions "may", "should" or "will" occur, including, without limitation, that all conditions precedent to the Arrangement will be met and the realization of the anticipated benefits derived therefrom for shareholders of Flying Nickel and perception of (i) the quality and the potential of Flying Nickel's assets, (ii) the consideration offered to Flying Nickel, and (iii) the potential of Flying Nickel's business following completion of the Arrangement. Forward-looking statements are based on the opinions and estimates of management of Flying Nickel at the date the statements are made, and are based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Many of these assumptions are based on factors and events that are not within the control of Flying Nickel, there is no assurance they will prove to be correct and are not guarantees of future performance and actual results may differ materially from those in the forward- looking statements.

Factors that could cause actual results to vary materially from results anticipated by such forward-looking statements include changes in market conditions; cash flow and availability of financing; the ability of Flying Nickel to obtain the requisite court, shareholder, TSXV and other third party approvals in respect of the Arrangement and the Name Change; exercise of any dissent rights, trades in the market, issuances of securities or exercises of convertible securities and other factors that could alter the share capital of Flying Nickel or other parties; risks relating to the availability and timeliness of permitting and governmental consents and approvals; and other risks of the mining industry.

These factors are discussed in greater detail in Flying Nickel's most recent MD&A filed on SEDAR+ at www.sedarplus.ca, which also provides additional general assumptions in connection with these statements. Flying Nickel cautions that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on forward-looking statements contained herein should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. Flying Nickel believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release.

Although Flying Nickel has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Flying Nickel undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements. Statements concerning mineral reserve and resource estimates may also be deemed to constitute forward-looking statements to the extent they involve estimates of the mineralization that will be encountered as the property is developed. Further, Flying Nickel may make changes to its business plans that could affect results.

Not for distribution to United States newswire services or for dissemination in the United States.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/220654

Vancouver, British Columbia–(Newsfile Corp. – August 16, 2024) – Oracle Commodity Holding Corp. (TSXV: ORCL) (OTCQB:ORLCF) ("Oracle") , a shareholder of Flying Nickel Mining Corp. (the "Company"), announces the filing of an early warning report pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues ("NI 62-103"). Oracle directly acquired an aggregate of 33,957,143 common shares in the capital of the Company (the "Shares") in connection with the Company's statutory plan of arrangement pursuant to Section 288 of the Business Corporations Act (British Columbia) with Nevada Vanadium Mining Corp. (the "Arrangement").

Oracle acquired the 33,957,143 Shares in exchange for the 33,957,143 commons shares it held in the capital of Nevada Vanadium Mining Corp. pursuant to the Arrangement. The price per Share the day before the Arrangement closed was $0.06, representing aggregate consideration of $2,037,429 paid to Oracle pursuant to the Arrangement.

Following the Arrangement, Oracle owns and controls 42,799,502 Shares and 1,737,587 warrants for purchasing Shares, representing approximately 28.93% of the Shares (calculated on a partially diluted basis after giving effect to the warrants held by Oracle). Prior to the Arrangement, Oracle owned 8,842,359 Shares which represented 10.04% of the Common Shares outstanding prior to completion of the Arrangement.

Oracle acquired the securities of the Issuer for investment purposes. In pursuing such purposes, Oracle takes a long-term view of its investment and reserves the right to formulate other plans or make other proposals, and take such actions with respect to its investment in the Issuer. Depending on market conditions and other factors, Oracle may acquire additional securities of the Issuer as Oracle may deem appropriate, whether in open market purchases, privately negotiated transactions or otherwise. Oracle may dispose of some or all of such securities. Oracle may also reconsider and change its plans or proposals relating to the foregoing.

Oracle is not relying on any exemptions from requirements in securities legislation applicable to formal bids. An early warning report pursuant to the requirements of applicable securities laws will be issued by the Oracle and will be posted to SEDAR+ at www.sedarplus.ca and available on request at the number below.

A copy of the early warning report has been filed on www.sedarplus.ca.

About Oracle Commodity Holding Corp.

Oracle Commodity Holding Corp. is a mining royalty company spun out from Silver Elephant Mining Corp. (TSX: ELEF) in 2022.

Further information on Oracle Commodity can be found at www.oracleholding.com.

ORACLE COMMODITY HOLDING CORP.

ON BEHALF OF THE BOARD

"Anthony Garson"CEO

For more information about Oracle Commodity, please contact:

Email: info@oracleholding.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/220308

Vancouver, British Columbia–(Newsfile Corp. – August 16, 2024) – Flying Nickel Mining Corp. (TSXV: FLYN) (OTCQB: FLYNF) ("Flying Nickel" or the "Company") and Nevada Vanadium Mining Corp. ("Nevada Vanadium") are pleased to announce the successful completion of the previously announced plan of arrangement (the "Arrangement" or the "Merger") effective August 16, 2024 whereby Flying Nickel has acquired 100% of the issued and outstanding common shares of Nevada Vanadium (the "NVMC Shares") and Nevada Vanadium has become a wholly owned subsidiary of Flying Nickel.

Pursuant to the Arrangement, Nevada Vanadium shareholders (the "NVMC Shareholders") received one common share of Flying Nickel (each whole share, a "Flying Nickel Share") for each NVMC Share held. In aggregate, Flying Nickel issued approximately 65,893,359 Flying Nickel Shares under the Arrangement.

Board of Directors and Management

Flying Nickel's board of directors post-Merger consists of four directors, including Greg Hall, Masa Igata, Neil Duboff, and John Lee.

The senior management team of Flying Nickel post-Merger includes John Lee as Chief Executive Officer, Ron Espell as President, Robert Van Drunen as Chief Operating Officer, Andrew Yau as Chief Financial Officer, and Marion McGrath as Corporate Secretary.

Nevada Vanadium's board of directors now consists of one director, being Greg Hall. No officers have been appointed for Nevada Vanadium.

Full details of the Merger and certain other matters are set out in the joint management information circular of Flying Nickel and Nevada Vanadium dated May 24, 2024 (the "Circular") and can be found under Nevada Vanadium or Flying Nickel's issuer profile on SEDAR+ at www.sedarplus.ca. A copy of the early warning report of Flying Nickel in connection with its acquisition of the NVMC Shares will be filed under Nevada Vanadium's issuer profile on SEDAR+ and can be obtained by contacting Flying Nickel as set out below.

About Flying Nickel

Flying Nickel is a nickel sulphide and vanadium exploration-stage mining company. The Company is advancing its 100% owned Minago nickel project in the Thompson nickel belt in Manitoba, Canada and Gibellini vanadium project in Nevada, USA.

For more information visit www.flynickel.com.

For more information, please contact:

John LeeChief Executive Officer and Executive ChairmanEmail: info@flynickel.comPhone: 1.877.664.2535 / 1.877.6NICKEL

Logos

To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8602/220292_image1.png

Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

None of the securities to be issued pursuant to the Arrangement have been or will be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and any securities issuable in the Arrangement are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities.

Cautionary Statement Regarding Forward-Looking Information

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". These forward-looking statements or information may relate to the anticipated results of the Arrangement and the Company and Nevada Vanadium's ongoing business plans, exploration and work programs.

Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management of the Company at the time, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Such assumptions include, but are not limited to, assumptions regarding expectations and assumptions concerning the Arrangement, and that general business and economic conditions will not change in a material adverse manner. Although the Company and Nevada Vanadium have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.

Such statements represent the current views of the Company and Nevada Vanadium with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Risks and uncertainties include, but are not limited to the following: the inability of the Company and Nevada Vanadium to realize the benefits anticipated from the Arrangement and the timing to realize such benefits; unanticipated changes in market price for the Flying Nickel Shares; changes to the Company's and/or Nevada Vanadium's current and future business plans and the strategic alternatives available thereto; treatment of the Arrangement under applicable laws; regulatory determinations and delays; stock market conditions generally; demand, supply and pricing for minerals produced by the Company and Nevada Vanadium; and general economic and political conditions in Canada and other jurisdictions where the applicable party conducts business. Other factors which could materially affect such forward-looking information are described in the risk factors in the Circular, the Company's management's discussion and analyses and other filings with the Canadian securities regulators which are available under the Company's profile on SEDAR+ at www.sedarplus.ca. The Company and Nevada Vanadium do not undertake to update any forward-looking information, except in accordance with applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/220292

Vancouver, British Columbia–(Newsfile Corp. – August 15, 2024) – Pacific Bay Minerals Ltd (TSXV: PBM) ("Pacific Bay" or the "Company"), is pleased to announce that the Company has appointed Brazilian geologist Elton L.S. Pereira as Vice President Exploration, effective immediately.

Mr. Pereira brings to Pacific Bay a wealth of international success in the mining exploration industry.

Mr. Pereira led the development of Brazauro Resources Corp.'s Tocantinzinho Gold Project, which was the first major discovery in the now prolific Tapajós Mineral Province in Brazil. Tocantinzinho was subsequently sold to Eldorado Gold Corp. in 2010, which is currently under construction by G Mining Ventures.

Following this achievement, Mr. Pereira spearheaded the discovery and development of the Castelo de Sonhos gold project, owned by TriStar Gold Inc. More recently, he has contributed to the development of multiple nickel-copper-cobalt deposits in Bahia State, Brazil, through his work with Appian Capital Advisory and Bahia Nickel Mineração.

Mr. Pereira earned a M.Sc. in Geology from the University of Ouro Preto, Minas Gerais, Brazil.

"Management of the Company has decided to direct attention to the acquisition of precious metal and critical mineral exploration projects in Brazil, and Mr. Pereira brings with him a remarkable track record of success and a wealth of experience that will help Pacific Bay achieve this objective," said Reagan Glazier, President & CEO. "Elton's leadership in developing high value assets, such as the Tocantinzinho and the Castelo de Sonhos gold projects, has not only set new standards in the industry, but also significantly contributed to the advancement of mineral exploration in Brazil. I'm excited for the opportunity to include him in our endeavors."

As part of his compensation, the Company will grant 500,000 incentive stock options to Mr. Pereira at an exercise price of $0.05 per share, expiring 3 years after issuing.

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Mr. David Bridge, P.Geo., a consultant of the Company, who is a "Qualified Person" as defined in NI 43-101.

For more Information please contact:

Reagan Glazier, CEO, President and DirectorE-mail: reagan@pacificbayminerals.comTelephone:+1 403-815-6663

About Pacific Bay Minerals Ltd.

Pacific Bay currently has a portfolio of properties in British Columbia including the Haskins Reed, 30km East of the Cassiar townsite and the newly added Sphinx Mountain Rare Earth Project.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are based on certain expectations and assumptions, including future plans and objectives of Neotech Metals Corp. Forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from those anticipated in such statements. The Company undertakes no obligation to update or revise forward-looking information, whether as a result of new information, future events, or otherwise, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/220011

SYDNEY (Reuters) – BHP, Rio Tinto and Qantas will invest a total of A$80 million ($52.7 million) as early-stage investors in an Australian carbon credits fund that aims to invest in land reforestation projects, according to statements from the fund and the companies on Monday.

The fund, managed by Silva Capital – a joint venture between Roc Partners and C6 Investment Management, aims to raise A$250 million to generate and manage Australian Carbon Credit Units (ACCUs) from reforestation initiatives.

ACCUs are issued by the Australian government's $3 billion Emissions Reduction Fund (ERF) to help the country slash its carbon emissions by 43% from 2005 levels by 2030.

The ERF issues credits mostly to projects that avoid deforestation, regenerate native forests or collect methane from landfills. Those projects can sell credits to the government or to companies looking to meet their emissions-cutting targets.

Companies operating in high-emitting industries like mining and aviation are increasingly looking to buy carbon credits as they seek to buy offsets for their emissions.

"This fund represents not only an investment in carbon abatement but a significant milestone in Australia's carbon market, that will, importantly, support the long-term success of our farming communities and nature repair," Raphael Wood, Silva Capital Co-Managing Director, said in a statement.

Silva Capital has plans to invest in farmlands to develop large carbon sequestration projects that promote sustainable agricultural and land management practices, Wood added.

($1 = 1.5193 Australian dollars)

(Reporting by Renju Jose in Sydney; Editing by Himani Sarkar)

Lundin Mining Corporation (TSE:LUN) shareholders (or potential shareholders) will be happy to see that the Chairman of the Board, Adam Lundin, recently bought a whopping CA$993k worth of stock, at a price of CA$13.23. Not only is that a big swing, but it increased their holding size by 11%, which is definitely great to see.

View our latest analysis for Lundin Mining

The Last 12 Months Of Insider Transactions At Lundin Mining

In fact, the recent purchase by Adam Lundin was the biggest purchase of Lundin Mining shares made by an insider individual in the last twelve months, according to our records. That means that an insider was happy to buy shares at above the current price of CA$12.47. It's very possible they regret the purchase, but it's more likely they are bullish about the company. We always take careful note of the price insiders pay when purchasing shares. Generally speaking, it catches our eye when insiders have purchased shares at above current prices, as it suggests they believed the shares were worth buying, even at a higher price.

In the last twelve months insiders purchased 149.00k shares for CA$2.0m. On the other hand they divested 77.25k shares, for CA$765k. In total, Lundin Mining insiders bought more than they sold over the last year. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!

insider-trading-volume

Lundin Mining is not the only stock that insiders are buying. For those who like to find small cap companies at attractive valuations, this free list of growing companies with recent insider purchasing, could be just the ticket.

Insider Ownership Of Lundin Mining

Many investors like to check how much of a company is owned by insiders. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. It appears that Lundin Mining insiders own 0.3% of the company, worth about CA$28m. While this is a strong but not outstanding level of insider ownership, it's enough to indicate some alignment between management and smaller shareholders.

So What Do The Lundin Mining Insider Transactions Indicate?

The recent insider purchases are heartening. And the longer term insider transactions also give us confidence. Insiders likely see value in Lundin Mining shares, given these transactions (along with notable insider ownership of the company). While it's good to be aware of what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. You'd be interested to know, that we found 2 warning signs for Lundin Mining and we suggest you have a look.

Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.

For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Wheaton Precious Metals Corp. WPM reported adjusted earnings per share of 33 cents in second-quarter 2024, which surpassed the Zacks Consensus Estimate of 29 cents. The bottom line improved 4.8% year over year. Wheaton generated revenues of around $299 million, which improved 12.9% on a year-over-year basis. The upside was caused by an 18% increase in average realized price, which was partially negated by a 4% decline in gold equivalent ounces (GEOs) sold. The top line beat the Zacks Consensus Estimate of $292 million.

Wheaton Precious Metals Corp. Price, Consensus and EPS SurpriseWheaton Precious Metals Corp. Price, Consensus and EPS Surprise

Wheaton Precious Metals Corp. price-consensus-eps-surprise-chart | Wheaton Precious Metals Corp. Quote

Wheaton’s gold production was 84,993 ounces, up from the prior-year quarter’s 83,180 ounces. Attributable silver production increased 14% year over year to 5,062 ounces and palladium production increased 11.8% to 4,338 ounces. The company produced 147,059 GEOs in the June-end quarter, up 7.2% from the prior-year quarter’s 137,176 GEOs.Wheaton sold 124,009 GEOs, down 4.4% from the last year’s quarter.

Prices

In the second quarter, the average realized gold price was $2,356 per ounce. The figure was 18.6% higher than the year-ago quarter. Silver prices were $29.11 per ounce, up 20.6% year over year. Palladium prices were $979 per ounce compared with $1,438 per ounce in the prior-year quarter. Cobalt prices improved 21.1% year over year to $16.02 per pound.

Financial Position

The company had around $540 million of cash in hand at the end of the second quarter of 2024 compared with $547 million at the end of 2023. It reported an operating cash flow of $234 million compared with $202 million in the prior-year quarter. The company has a $2 billion undrawn revolving credit facility.  The maturity date has been extended to Jun 25, 2029.

2024 Guidance

Wheaton projects attributable production to be between 550,000 GEOs and 620,000 GEOs. Notably, it produced 584,389 GEOs in 2023. Gold production is expected to be in the range of 325,000-370,000 ounces, indicating a slight decline from the 374,585 produced in 2023. Silver production is projected between 18.5 million and 20.5 million ounces, indicating growth from 17.2 million ounces in the prior year. The production of other metals is anticipated to be in the range of 12,000-15,000 GEOs. WPM produced 12,275 GEOs of other metals in 2023.

Price Performance

Shares of Wheaton have gained 24.5% in the past year against the industry’s 4% decline.

Zacks Investment Research

Image Source: Zacks Investment Research

Zacks Rank

Wheaton currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Peer Performances

Teck Resources TECK reported second-quarter 2024 adjusted earnings per share of 58 cents, which surpassed the Zacks Consensus Estimate of 47 cents by a margin of 23%. The bottom line marked a 37% plunge from earnings of 91 cents per share reported in the year-ago quarter.Net sales of TECK amounted to around $2.83 billion, an 8% increase from $2.62 billion in the year-ago quarter. The top line, however, missed the Zacks Consensus Estimate of $2.92 billion.Reliance, Inc. RS recorded earnings of $4.65 per share. It lagged the Zacks Consensus Estimate of $4.73. RS recorded net sales of $3,643.3 million, down around 6.1% year over year. The top line beat the consensus estimate of $3,603.9 million.Cleveland-Cliffs Inc.’s CLF second-quarter adjusted earnings were 11 cents per share, down from 69 cents in the prior-year quarter. The Zacks Consensus Estimate was pegged at break-even. Revenues of CLF fell 14.9% to $5,092 million. The top line missed the consensus estimate of $5,199.9 million.

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(Bloomberg) — BHP Group Ltd., the world’s No. 1 miner, is planning to sell Brazilian copper and gold assets it acquired with the takeover of Oz Minerals Ltd., according to people familiar with the matter.

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The company’s acquisition of Oz Minerals in May 2023 was its biggest deal in more than a decade and included buying an untapped gold deposit and four small, but high-grade, copper-gold mines in the Brazilian state of Para.

BHP has engaged Banco Santander SA to advise in talks for a potential sale after it completed a strategic review of such assets, said the people, who asked not to be identified discussing private details.

Spokespeople for BHP and Santander declined to comment for this story.

BHP has been focused on creating a copper hub in South Australia, while consolidating its position as one of the world’s largest producers of the metal. The Oz Minerals purchase was part of a strategy to boost exposure to key materials used in clean energy and electric cars.

Last week, BHP swooped to buy Filo Corp., teaming up with Lundin Mining Corp. in a $3 billion deal to gain South American copper assets. In May, it abandoned a $49 billion takeover bid for Anglo American Plc, which would have boosted its production of the metal at a time when miners and their investors are positioning for a prolonged period of tight supply and rising prices.

BHP’s Brazil country manager told Bloomberg last year the company had no intention of getting rid of Samarco Mineracao SA, the iron-ore producer it jointly owns with Vale SA.

Shares of BHP fell 1.4% at 10:08 a.m. Sydney time to A$40.46 apiece.

–With assistance from Mariana Durao and Thomas Biesheuvel.

(Updates with Brazilian assets in 2nd paragraph, M&A bids in 6th.)

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Looking at RBR Group's (ASX:RBR) mostly flat share price movement over the past week, it is easy to think that there’s nothing interesting about the stock. However, its fundamentals look pretty strong which means that its price could rise in the future as markets usually follow the long-term financial performance of a business. In this article, we decided to focus on RBR Group's ROE.

Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors’ money. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.

View our latest analysis for RBR Group

How Is ROE Calculated?

The formula for ROE is:

Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity

So, based on the above formula, the ROE for RBR Group is:

53% = AU$1.5m ÷ AU$2.9m (Based on the trailing twelve months to December 2023).

The 'return' is the profit over the last twelve months. That means that for every A$1 worth of shareholders' equity, the company generated A$0.53 in profit.

What Is The Relationship Between ROE And Earnings Growth?

Thus far, we have learned that ROE measures how efficiently a company is generating its profits. Depending on how much of these profits the company reinvests or "retains", and how effectively it does so, we are then able to assess a company’s earnings growth potential. Generally speaking, other things being equal, firms with a high return on equity and profit retention, have a higher growth rate than firms that don’t share these attributes.

RBR Group's Earnings Growth And 53% ROE

To begin with, RBR Group has a pretty high ROE which is interesting. Secondly, even when compared to the industry average of 11% the company's ROE is quite impressive. This likely paved the way for the modest 19% net income growth seen by RBR Group over the past five years.

We then performed a comparison between RBR Group's net income growth with the industry, which revealed that the company's growth is similar to the average industry growth of 21% in the same 5-year period.

past-earnings-growth

The basis for attaching value to a company is, to a great extent, tied to its earnings growth. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. Is RBR Group fairly valued compared to other companies? These 3 valuation measures might help you decide.

Is RBR Group Making Efficient Use Of Its Profits?

Given that RBR Group doesn't pay any regular dividends to its shareholders, we infer that the company has been reinvesting all of its profits to grow its business.

Conclusion

On the whole, we feel that RBR Group's performance has been quite good. Particularly, we like that the company is reinvesting heavily into its business, and at a high rate of return. Unsurprisingly, this has led to an impressive earnings growth. If the company continues to grow its earnings the way it has, that could have a positive impact on its share price given how earnings per share influence long-term share prices. Remember, the price of a stock is also dependent on the perceived risk. Therefore investors must keep themselves informed about the risks involved before investing in any company. You can see the 3 risks we have identified for RBR Group by visiting our risks dashboard for free on our platform here.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

VANCOUVER, BC, Aug. 8, 2024 /CNW/ – Rokmaster Resources Corp. (TSXV: RKR) (OTCQB: RKMSF) (FSE: 1RR1) ("Rokmaster" or "the Company") is pleased to announce assay results from spring 2024 field work completed on the  Mystery Property.

The road accessible Mystery Property is one component of Rokmaster's Nechako Project which is targeting significant copper-molybdenum-gold porphyry deposits and high grade gold-silver epithermal mineralization in west-central British Columbia. The region is host to excellent infrastructure and multiple active exploration programs, noted in Figure 1.

The 12,193 hectare Mystery Property is situated over the Shelford Hills, a circular uplifted volcanic block exposing Cretaceous Kasalka Group volcanic rocks intruded by a stock of porphyritic monzonite belonging to the Late Cretaceous Bulkley Plutonic Suite (Figure 2). The Bulkley Plutonic Suite hosts the calc-alkalic porphyry Cu-Mo mineralization at the nearby Huckleberry, Ox, and Seel deposits.

Samples were collected from the Mystery Property during two field work programs in May and June of 2024. Quartz vein breccia was discovered approximately 900 m south of the Breccia Zone and returned up to 5.22[1] g/t Au and 388 g/t Ag in grab samples. This discovery of epithermal quartz veins hosting gold and silver mineralization is highly positive when targeting a porphyry environment and adds to the widespread occurrences of anomalous copper, gold, molybdenum across the Mystery Property.

Soil sampling work in 2024 confirmed the 900×700 meter north-central copper in soil anomaly and extended it to the north by 300 m. Crews observed that nearly the entirety of the Mystery Property was recently burned by a large forest fire, providing for a significant access and outcrop exposure advantage over previous operators such as Kennco, BP-Selco, Canamax, and Noranda (Figure 3).

John Mirko, President and CEO, comments:

"These early-stage results from the Mystery Property are encouraging especially when considering they were generated during two limited initial field work programs completed in the spring. The confirmation and extension of the central soil anomaly is in an area which was held by private interests for many years, including those when the Property was heavily vegetated. The discovery of high grade gold and silver mineralization south of the Breccia Zone is a testament to the underexplored nature of the Mystery Property and we are excited to return for more investigation. "

1 Samples were prepared and analyzed by Bureau Veritas Commodities Canada Ltd (BV) in Vancouver BC. After preparation, samples were analyzed for 37 elements including Au by aqua regia digestion of a 15 g sample with ICP-ES/MS finish (BV method AQ201). Samples >25 g/t Ag and >10,000 ppm Pb were re-analyzed by an ore grade aqua regia digestion method with an ICP-ES finish (BV method AR374).

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101 and reviewed and approved by Eric Titley, P.Geo., who is independent of Rokmaster and who acts as Rokmaster's Qualified Person.

On Behalf of the Board of Directors of

Rokmaster Resources Corp.

John Mirko,President & Chief Executive Officer.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term in defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS: This news release may contain forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," 'projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metal prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from Rokmaster's operations and other risks and uncertainties. Any forward-looking statement speaks only as of the date it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future vents or results or otherwise.

 

Figure 2 (CNW Group/Rokmaster Resources Corp.)Figure 3 (CNW Group/Rokmaster Resources Corp.)Rokmaster Resources Corp. logo (CNW Group/Rokmaster Resources Corp.)

SOURCE Rokmaster Resources Corp.

Cision

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(Reuters) – BHP Group, the world's top miner, is mulling a sale of Brazilian copper and gold assets it took over as part of the buyout of smaller peer Oz Minerals, Bloomberg News reported on Wednesday, according to people familiar with the matter.

BHP, which recently abandoned plans to buy out British multinational miner Anglo American, has engaged Spanish financial services firm Banco Santander S.A. for advice in talks for the potential sale, the report said.

BHP and Santander did not immediately respond to Reuters requests for comment.

Bloomberg had earlier reported that BHP's Brazil manager had told them that the miner had no intention to get rid of Samarco Mineracao SA, an iron ore producer it jointly owns with Vale.

BHP took over Oz Minerals in May 2023 for A$9.6 billion ($6.27 billion) in a bid to gain larger access to materials key for the green energy transition and to make electric vehicles.

($1 = 1.5300 Australian dollars)

(Reporting by Rishav Chatterjee in Bengaluru; Editing by Shailesh Kuber)

North America is at a critical junction in securing its supply of critical minerals, particularly lithium, which is essential for various industries including technology, energy, and defense.

The lack of domestic production poses a significant security problem, as the continent is heavily reliant on imports.

The demand for lithium is expected to grow exponentially in the coming years, driven by the increasing adoption of electric vehicles (EVs) and the need for energy storage solutions.

To address this challenge, several companies are actively exploring and developing lithium projects in North America.

10 Companies Looking to Capitalize on the Global Lithium Boom

BHP Group (NYSE:BHP) a global mining giant, has a diversified portfolio of mining assets, including significant lithium operations. The company's commitment to sustainable and responsible mining practices is evident in its various initiatives to reduce environmental impact and work closely with local communities.

Lithium Americas (NYSE:LAC) is a major player in the global lithium market, with promising projects in development, including the Thacker Pass lithium mine in Nevada, one of the largest known lithium deposits in the world. The company is well-positioned to benefit from the growing demand for lithium and could be a major supplier to the EV industry.

Albemarle Corporation (NYSE:ALB), the world's largest producer of lithium, is investing heavily in expanding its production capacity. The company's recent announcement of a $500 million investment in a new lithium hydroxide plant in North Carolina highlights its commitment to meeting the increasing demand for lithium-ion batteries.

Piedmont Lithium Limited (NASDAQ:PLL), an Australian lithium mining company, is focused on developing its flagship asset, the Piedmont Lithium Project in North Carolina. The project is expected to produce a significant amount of lithium hydroxide per year, contributing to the domestic supply of this critical mineral.

MP Materials Corp. (NYSE:MP) is a leading supplier of rare earth materials, including lithium, to the global technology industry. The company's Mountain Pass mine in California is the only fully integrated rare earth mining and processing facility in the United States, giving it a significant competitive advantage.

Rare Element Resources Ltd. (TSX:RES) is a Canadian exploration and development company focused on rare earth elements (REEs), including lithium. The company's flagship project, the Bear Lodge project in Wyoming, contains one of the largest undeveloped REE deposits in the world and has the potential to produce a variety of REEs, including lithium.

Avalon Advanced Materials Inc. (TSX:AVL) is a Canadian company specializing in functional materials and specialty chemicals. The company is actively involved in the development of materials for lithium-ion batteries and solid-state batteries, contributing to the advancement of energy storage solutions.

First Quantum Minerals Ltd (TSX:FM) is a Canadian-based mining and metals company with a focus on copper, nickel, gold, and zinc production. While not directly involved in lithium production, the company's operations contribute to the overall mining industry and economic development in various countries.

Allkem Limited (TSX:AKE), an Australian mining company, is a significant player in the lithium market, with operations spanning the entire lithium value chain. The company's projects in Australia, Argentina, and Canada are expected to contribute significantly to the global supply of lithium.

Teck Resources Limited (TSX:TECK) is a diversified mining company and one of the world's largest producers of zinc and copper. The company's zinc production is essential for the growing demand for batteries in electric vehicles and other applications.

These companies, along with many others, are working diligently to secure a stable and sustainable supply of lithium in North America. As the demand for lithium continues to rise, their efforts will be crucial in meeting the needs of various industries and supporting the transition to a clean energy future.

By Michael Kern for Oilprice.com

 

Read this article on OilPrice.com

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES/

VANCOUVER, BC, Aug. 7, 2024 /CNW/ – Filo Corp. (TSX: FIL) (Nasdaq First North Growth Market: FIL) (OTCQX: FLMMF) ("Filo" or the "Company") is pleased to announce that it has closed its previously announced private placement of 3,484,848 common shares in the capital of the Company (the "Filo Shares") issued at a price of C$33.00 per share for gross proceeds of C$114,999,984.00 (the "Private Placement"). The Private Placement was made pursuant to subscription agreements entered into between Filo and each of BHP ("BHP") and Lundin Mining Corporation (TSX: LUN) (Nasdaq Stockholm: LUMI) ("Lundin Mining", and together with BHP, the "Purchaser Parties"). Upon completion of the Private Placement, each of BHP's and Lundin's equity interest in the Company has increased by approximately 1.3%, resulting in each of them now owning, directly or indirectly, approximately 7.1% and 1.7%, respectively, and the Company now has 134,685,648 Filo Shares issued and outstanding. The Private Placement entails a dilution of approximately 2.6% of the number of shares and votes in the Company (calculated as the number of newly issued Filo Shares divided by the total number of Filo Shares after the Private Placement). PDF Version

The Private Placement was previously announced concurrently with Filo announcing that it had entered into a binding arrangement agreement with the Purchaser Parties whereby the Purchaser Parties will acquire all of the outstanding Filo Shares that they do not already own (the "Transaction").

The net proceeds of the Private Placement will be used for exploration of the Filo del Sol project, general working capital expenses and general and administration expenses for the period between announcement and closing of the Transaction, in accordance with Filo's budget.

The Filo Shares issued under the Private Placement to the Purchaser Parties will be subject to a hold period expiring on December 8, 2024. The Private Placement remains subject to the final approval of the Toronto Stock Exchange.

About Filo Corp.

Filo is a Canadian exploration and development company focused on advancing its 100% owned Filo del Sol copper-gold-silver deposit located in San Juan Province, Argentina and adjacent Region III, Chile. The Company's shares are listed on the TSX and Nasdaq First North Growth Market under the trading symbol "FIL", and on the OTCQX under the symbol "FLMMF". Filo is a member of the Lundin Group of Companies.

Additional Information

The Company's certified adviser on the Nasdaq First North Growth Market is Aktieinvest FK AB, +46 8 506 51703, rutger.ahlerup@aktieinvest.se.

The information contained in this news release was accurate at the time of dissemination, but may be superseded by subsequent news release(s).

The information was submitted for publication by the contact persons below on August 7, 2024 at 09:45 am EDT.

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Twitter:                https://twitter.com/filo_corp LinkedIn:             https://www.linkedin.com/company/filocorp/ Instagram:           https://www.instagram.com/filo_corp/ Facebook:           https://www.facebook.com/FiloCorpOfficial

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

This press release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking information") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein may be forward-looking statements, including, without limitation, statements relating to the consummation and timing of the Transaction; the anticipated use of proceeds of the Private Placement; and discussion of future plans, projects, objectives, estimates and forecasts and the timing related to the Transaction.  Forward-looking information is frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. These forward-looking statements may also include statements regarding perceived merit of properties; exploration plans and budgets; mineral reserves and resource estimates; work programs; capital expenditures; timelines; strategic plans; market prices for precious and base metals; or other statements that are not statements of fact. In addition, statements relating to "mineral resources" and "mineral reserves" are deemed to be forward-looking information, as they involve the implied assessment, based on certain estimates and assumptions that the mineral resources and mineral reserves described can be profitably produced in the future.

Forward-looking information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. Important factors that could cause actual results to differ materially from the Company's expectations include failure to receive the required court and regulatory approvals to effect the Transaction; changes in laws, regulations and government practices; the potential of a third party making a superior proposal to the Transaction; risks pertaining to the outbreak of the global pandemics; government regulation of mining operations; environmental risks; and other risks and uncertainties disclosed in the Company's periodic filings with Canadian securities regulators and in other Company reports and documents filed with applicable securities regulatory authorities from time to time, including the Company's Annual Information Form available under the Company's profile at www.sedarplus.ca. In addition, these statements involve assumptions made with regards to the Company's ability to develop the Filo del Sol project and to achieve the results outlined in the Technical Report; the ability to raise the capital required to fund construction and development of the Filo del Sol project; and the results and impact of future exploration at the Filo del Sol project. The Company's forward-looking information reflects the beliefs, opinions, and projections on the date the statements are made. The Company assumes no obligation to update the forward-looking information or beliefs, opinions, projections, or other factors, should they change, except as required by law.

Filo Announces Closing of C$115 Million Private Placement (CNW Group/Filo Corp.)

SOURCE Filo Corp.

Cision

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Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.

Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large.

Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.

Lundin Mining (LUNMF) is a stock many investors are watching right now. LUNMF is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock is trading with P/E ratio of 9.62 right now. For comparison, its industry sports an average P/E of 20.20. Over the past 52 weeks, LUNMF's Forward P/E has been as high as 18.82 and as low as 7.75, with a median of 12.37.

Another valuation metric that we should highlight is LUNMF's P/B ratio of 1.15. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. This stock's P/B looks attractive against its industry's average P/B of 3.08. Over the past year, LUNMF's P/B has been as high as 1.58 and as low as 0.72, with a median of 1.04.

Value investors also love the P/S ratio, which is calculated by simply dividing a stock's price with the company's sales. This is a prefered metric because revenue can't really be manipulated, so sales are often a truer performance indicator. LUNMF has a P/S ratio of 1.75. This compares to its industry's average P/S of 2.38.

Finally, we should also recognize that LUNMF has a P/CF ratio of 8.27. This data point considers a firm's operating cash flow and is frequently used to find companies that are undervalued when considering their solid cash outlook. LUNMF's current P/CF looks attractive when compared to its industry's average P/CF of 18.13. Over the past year, LUNMF's P/CF has been as high as 12.22 and as low as 4.98, with a median of 7.08.

These are only a few of the key metrics included in Lundin Mining's strong Value grade, but they help show that the stock is likely undervalued right now. When factoring in the strength of its earnings outlook, LUNMF looks like an impressive value stock at the moment.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Lundin Mining Corp. (LUNMF) : Free Stock Analysis Report

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SANTIAGO (Reuters) – Australian miner BHP has requested mediation by the Chilean government with the union representing workers at its Escondida mine, the company said on Monday, a move aimed at avoiding a potential strike at the world's largest copper project.

BHP noted in a statement that the mine is operating normally and that the mediation would aim to achieve a contractual agreement for the mine's workers.

BHP owns more than half of Escondida, while Rio Tinto and JECO Corp control minority stakes.

Once the mediation is confirmed, the parties will have five working days to continue negotiations, according to the statement.

Last week, Escondida workers rejected an offer for a new collective bargaining agreement, according to the union.

The union has demanded that 1% of dividends to be distributed equally among workers, but declined on Monday to comment on the company's request for mediation.

(Reporting by Fabian Cambero; Writing by Aida Pelaez-Fernandez; Editing by David Alire Garcia)

Readers hoping to buy Southern Copper Corporation (NYSE:SCCO) for its dividend will need to make their move shortly, as the stock is about to trade ex-dividend. Typically, the ex-dividend date is one business day before the record date which is the date on which a company determines the shareholders eligible to receive a dividend. The ex-dividend date is important as the process of settlement involves two full business days. So if you miss that date, you would not show up on the company's books on the record date. Meaning, you will need to purchase Southern Copper's shares before the 9th of August to receive the dividend, which will be paid on the 26th of August.

The company's next dividend payment will be US$0.60 per share, and in the last 12 months, the company paid a total of US$2.40 per share. Looking at the last 12 months of distributions, Southern Copper has a trailing yield of approximately 2.4% on its current stock price of US$99.49. If you buy this business for its dividend, you should have an idea of whether Southern Copper's dividend is reliable and sustainable. We need to see whether the dividend is covered by earnings and if it's growing.

Check out our latest analysis for Southern Copper

Dividends are usually paid out of company profits, so if a company pays out more than it earned then its dividend is usually at greater risk of being cut. Its dividend payout ratio is 79% of profit, which means the company is paying out a majority of its earnings. The relatively limited profit reinvestment could slow the rate of future earnings growth. It could become a concern if earnings started to decline. Yet cash flows are even more important than profits for assessing a dividend, so we need to see if the company generated enough cash to pay its distribution. Southern Copper paid out more free cash flow than it generated – 150%, to be precise – last year, which we think is concerningly high. We're curious about why the company paid out more cash than it generated last year, since this can be one of the early signs that a dividend may be unsustainable.

While Southern Copper's dividends were covered by the company's reported profits, cash is somewhat more important, so it's not great to see that the company didn't generate enough cash to pay its dividend. Were this to happen repeatedly, this would be a risk to Southern Copper's ability to maintain its dividend.

Click here to see the company's payout ratio, plus analyst estimates of its future dividends.

historic-dividendHave Earnings And Dividends Been Growing?

Companies with consistently growing earnings per share generally make the best dividend stocks, as they usually find it easier to grow dividends per share. If earnings decline and the company is forced to cut its dividend, investors could watch the value of their investment go up in smoke. Fortunately for readers, Southern Copper's earnings per share have been growing at 12% a year for the past five years. Earnings have been growing at a decent rate, but we're concerned dividend payments consumed most of the company's cash flow over the past year.

Many investors will assess a company's dividend performance by evaluating how much the dividend payments have changed over time. Southern Copper has delivered 14% dividend growth per year on average over the past 10 years. It's exciting to see that both earnings and dividends per share have grown rapidly over the past few years.

To Sum It Up

Should investors buy Southern Copper for the upcoming dividend? Earnings per share growth is a positive, and the company's payout ratio looks normal. However, we note Southern Copper paid out a much higher percentage of its free cash flow, which makes us uncomfortable. It might be worth researching if the company is reinvesting in growth projects that could grow earnings and dividends in the future, but for now we're not all that optimistic on its dividend prospects.

With that being said, if dividends aren't your biggest concern with Southern Copper, you should know about the other risks facing this business. Our analysis shows 2 warning signs for Southern Copper and you should be aware of them before buying any shares.

A common investing mistake is buying the first interesting stock you see. Here you can find a full list of high-yield dividend stocks.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

Lundin Mining Corporation (TSE:LUN) has announced that it will pay a dividend of $0.09 per share on the 11th of September. This makes the dividend yield 2.7%, which will augment investor returns quite nicely.

Check out our latest analysis for Lundin Mining

Lundin Mining's Dividend Is Well Covered By Earnings

If the payments aren't sustainable, a high yield for a few years won't matter that much. Prior to this announcement, the company was paying out 121% of what it was earning, however the dividend was quite comfortably covered by free cash flows at a cash payout ratio of only 57%. Generally, we think cash is more important than accounting measures of profit, so with the cash flows easily covering the dividend, we don't think there is much reason to worry.

Looking forward, earnings per share is forecast to rise exponentially over the next year. If recent patterns in the dividend continue, we could see the payout ratio reaching 53% which is fairly sustainable.

historic-dividendLundin Mining's Dividend Has Lacked Consistency

Even in its relatively short history, the company has reduced the dividend at least once. This suggests that the dividend might not be the most reliable. Since 2016, the dividend has gone from $0.0882 total annually to $0.259. This works out to be a compound annual growth rate (CAGR) of approximately 14% a year over that time. It is great to see strong growth in the dividend payments, but cuts are concerning as it may indicate the payout policy is too ambitious.

Lundin Mining Might Find It Hard To Grow Its Dividend

With a relatively unstable dividend, it's even more important to evaluate if earnings per share is growing, which could point to a growing dividend in the future. We are encouraged to see that Lundin Mining has grown earnings per share at 15% per year over the past five years. While EPS is growing at a decent rate, but future growth could be limited by the amount of earnings being paid out to shareholders.

Our Thoughts On Lundin Mining's Dividend

In summary, while it's good to see that the dividend hasn't been cut, we are a bit cautious about Lundin Mining's payments, as there could be some issues with sustaining them into the future. The company is generating plenty of cash, which could maintain the dividend for a while, but the track record hasn't been great. We would probably look elsewhere for an income investment.

Investors generally tend to favour companies with a consistent, stable dividend policy as opposed to those operating an irregular one. However, there are other things to consider for investors when analysing stock performance. As an example, we've identified 2 warning signs for Lundin Mining that you should be aware of before investing. Looking for more high-yielding dividend ideas? Try our collection of strong dividend payers.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

VANCOUVER, BC, Aug. 2, 2024 /CNW/ – (TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") is pleased to announce the closing of an increase to its existing term loan ("Term Loan"), maturing on July 27, 2027, in the principal amount of $350 million, in connection with the previously announced closing of an additional nineteen percent (19%) interest in SCM Minera Lumina Copper Chile ("Lumina Copper"). See press release dated June 26, 2024 "Lundin Mining Exercises Option to Increase Ownership in Caserones to 70% and Receives Commitments to Increase the Term Loan by $350 Million".

The Company has used the Term Loan to refinance the drawdown of the existing $1.75 billion revolving credit facility that was used to fund the upfront cash consideration of $350 million for the additional acquisition of nineteen percent (19%) of the issued and outstanding equity of Lumina Copper, which owns the Caserones copper-molybdenum mine in Chile.

The Term Loan bears interest on US dollar denominated drawn funds at an annual rate equal to the Term Secured Overnight Financing Rate plus a credit spread adjustment plus an applicable margin of 1.60% to 2.65%, depending upon the Company's net leverage ratio. The Term Loan is unsecured, save and except for a charge over certain assets in the United States of America, and has similar covenants to the Company's existing $1.75 billion revolving credit facility.

BMO Capital Markets, ING Capital LLC and The Bank of Nova Scotia have acted as Joint Lead Arrangers and Joint Bookrunners. Bank of Montreal is acting as Administrative Agent and Bank of Montreal, Canadian Imperial Bank of Commerce, ING Capital LLC and The Bank of Nova Scotia are acting as Co-Sustainability Structuring Agent. Bank of Montreal, The Bank of Nova Scotia, ING Capital LLC, Canadian Imperial Bank of Commerce, Fédération des Caisses Desjardins du Québec, The Toronto-Dominion Bank, Bank of America N.A., Royal Bank of Canada, Export Development Canada, National Bank of Canada, MUFG Bank Ltd, Canada Branch, and Citibank N.A., Canada Branch, acted as lenders.

About Lundin Mining

Lundin Mining is a diversified Canadian base metals mining company with operations and projects in Argentina, Brazil, Chile, Portugal, Sweden and the United States of America, primarily producing copper, zinc, gold and nickel.

The information in this release is subject to the disclosure requirements of Lundin Mining under the Swedish Financial Instruments Trading Act. The information was submitted for publication, through the agency of the contact persons set out below on August 2, 2024 at 14:30 Vancouver Time.

Cautionary Statement on Forward-Looking Information 

Certain of the statements made and information contained herein is "forward-looking information" within the meaning of applicable Canadian securities laws. All statements other than statements of historical facts included in this document constitute forward-looking information, including but not limited to statements regarding the Company's plans, prospects and business strategies. Words such as "believe", "expect", "anticipate", "contemplate", "target", "plan", "goal", "aim", "intend", "continue", "budget", "estimate", "may", "will", "can", "could", "should", "schedule" and similar expressions identify forward-looking statements.

Forward-looking information is necessarily based upon various estimates and assumptions including, without limitation, the expectations and beliefs of management, including that the Company can access financing, appropriate equipment and sufficient labour; assumed and future price of copper, nickel, zinc, gold and other metals; anticipated costs; ability to achieve goals; the prompt and effective integration of acquisitions; that the political environment in which the Company operates will continue to support the development and operation of mining projects; and assumptions related to the factors set forth below. While these factors and assumptions are considered reasonable by Lundin Mining as at the date of this document in light of management's experience and perception of current conditions and expected developments, these statements are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: global financial conditions, market volatility and inflation, including pricing and availability of key supplies and services; risks inherent in mining including but not limited to risks to the environment, industrial accidents, catastrophic equipment failures, unusual or unexpected geological formations or unstable ground conditions, and natural phenomena such as earthquakes, flooding or unusually severe weather; uninsurable risks; volatility and fluctuations in metal and commodity demand and prices; significant reliance on assets in Chile; reputation risks related to negative publicity with respect to the Company or the mining industry in general; delays or the inability to obtain, retain or comply with permits; risks relating to the development of the Josemaria Project; health and safety laws and regulations; risks associated with climate change; risks relating to indebtedness; economic, political and social instability and mining regime changes in the Company's operating jurisdictions, including but not limited to those related to permitting and approvals, nationalization or expropriation without fair compensation, environmental and tailings management, labour, trade relations, and transportation; inability to attract and retain highly skilled employees; risks inherent in and/or associated with operating in foreign countries and emerging markets, including with respect to foreign exchange and capital controls; project financing risks, liquidity risks and limited financial resources; health and safety risks; compliance with environmental, unavailable or inaccessible infrastructure, infrastructure failures, and risks related to ageing infrastructure; changing taxation regimes; the inability to effectively compete in the industry; risks associated with acquisitions and related integration efforts, including the ability to achieve anticipated benefits, unanticipated difficulties or expenditures relating to integration and diversion of management time on integration; risks related to mine closure activities, reclamation obligations, environmental liabilities and closed and historical sites; reliance on key personnel and reporting and oversight systems, as well as third parties and consultants in foreign jurisdictions; information technology and cybersecurity risks; risks associated with the estimation of Mineral Resources and Mineral Reserves and the geology, grade and continuity of mineral deposits including but not limited to models relating thereto; actual ore mined and/or metal recoveries varying from Mineral Resource and Mineral Reserve estimates, estimates of grade, tonnage, dilution, mine plans and metallurgical and other characteristics; ore processing efficiency; community and stakeholder opposition; regulatory investigations, enforcement, sanctions and/or related or other litigation; financial projections, including estimates of future expenditures and cash costs, and estimates of future production may not be reliable; enforcing legal rights in foreign jurisdictions; risks associated with the use of derivatives; risks relating to joint ventures and operations; environmental and regulatory risks associated with the structural stability of waste rock dumps or tailings storage facilities; exchange rate fluctuations; compliance with foreign laws; potential for the allegation of fraud and corruption involving the Company, its customers, suppliers or employees, or the allegation of improper or discriminatory employment practices, or human rights violations; risks relating to dilution; risks relating to payment of dividends; counterparty and customer concentration risks; activist shareholders and proxy solicitation matters; estimation of asset carrying values; relationships with employees and contractors, and the potential for and effects of labour disputes or other unanticipated difficulties with or shortages of labour or interruptions in production; conflicts of interest; existence of significant shareholders; challenges or defects in title; internal controls; risks relating to minor elements contained in concentrate products; the threat associated with outbreaks of viruses and infectious diseases; and other risks and uncertainties, including but not limited to those described in the "Managing Risks" section of the Company's MD&A and the "Risks and Uncertainties" section of the Company's Annual Information Form for the year ended December 31, 2023, which are available on SEDAR+ at www.sedarplus.com under the Company's profile.

Lundin Mining Announces Closing of $350 million Term Loan in Connection with the Caserones Option Exercise (CNW Group/Lundin Mining Corporation)

SOURCE Lundin Mining Corporation

Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/August2024/02/c3122.html

The analysts might have been a bit too bullish on Lundin Mining Corporation (TSE:LUN), given that the company fell short of expectations when it released its second-quarter results last week. Results showed a clear earnings miss, with US$1.1b revenue coming in 7.2% lower than what the analystsexpected. Statutory earnings per share (EPS) of US$0.16 missed the mark badly, arriving some 28% below what was expected. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. Readers will be glad to know we've aggregated the latest statutory forecasts to see whether the analysts have changed their mind on Lundin Mining after the latest results.

See our latest analysis for Lundin Mining

earnings-and-revenue-growth

Taking into account the latest results, the consensus forecast from Lundin Mining's 17 analysts is for revenues of US$4.38b in 2024. This reflects a modest 7.5% improvement in revenue compared to the last 12 months. Statutory earnings per share are predicted to soar 217% to US$0.70. In the lead-up to this report, the analysts had been modelling revenues of US$4.49b and earnings per share (EPS) of US$0.72 in 2024. It's pretty clear that pessimism has reared its head after the latest results, leading to a weaker revenue outlook and a minor downgrade to earnings per share estimates.

The analysts made no major changes to their price target of CA$17.44, suggesting the downgrades are not expected to have a long-term impact on Lundin Mining's valuation. The consensus price target is just an average of individual analyst targets, so – it could be handy to see how wide the range of underlying estimates is. There are some variant perceptions on Lundin Mining, with the most bullish analyst valuing it at CA$20.09 and the most bearish at CA$8.65 per share. This is a fairly broad spread of estimates, suggesting that analysts are forecasting a wide range of possible outcomes for the business.

Looking at the bigger picture now, one of the ways we can make sense of these forecasts is to see how they measure up against both past performance and industry growth estimates. We can infer from the latest estimates that forecasts expect a continuation of Lundin Mining'shistorical trends, as the 16% annualised revenue growth to the end of 2024 is roughly in line with the 15% annual growth over the past five years. Compare this with the broader industry, which analyst estimates (in aggregate) suggest will see revenues grow 16% annually. It's clear that while Lundin Mining's revenue growth is expected to continue on its current trajectory, it's only expected to grow in line with the industry itself.

The Bottom Line

The most important thing to take away is that the analysts downgraded their earnings per share estimates, showing that there has been a clear decline in sentiment following these results. They also downgraded their revenue estimates, although as we saw earlier, forecast growth is only expected to be about the same as the wider industry. The consensus price target held steady at CA$17.44, with the latest estimates not enough to have an impact on their price targets.

Keeping that in mind, we still think that the longer term trajectory of the business is much more important for investors to consider. At Simply Wall St, we have a full range of analyst estimates for Lundin Mining going out to 2026, and you can see them free on our platform here..

We don't want to rain on the parade too much, but we did also find 2 warning signs for Lundin Mining that you need to be mindful of.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com