Investment company Aberdeen Emerging Markets Equity Income Fund, Inc. (Current Portfolio) buys Prosus NV, TCS Group Holding PLC, Kotak Mahindra Bank, ASM International NV, Li Ning Co, sells Naspers, Vale SA, China Resources Land, Ping An Insurance (Group) Co. of China, BHP Group PLC during the 3-months ended 2021Q3, according to the most recent filings of the investment company, Aberdeen Emerging Markets Equity Income Fund, Inc.. As of 2021Q3, Aberdeen Emerging Markets Equity Income Fund, Inc. owns 75 stocks with a total value of $510 million. These are the details of the buys and sells.

• New Purchases: PRX, TCS, KOTAKBANK, ASM, 02331, 035720,

• Added Positions: FPT, 00700, TCB, 09698, BBRI, SE, 00881, GMEXICOB, LUKOY, 09988, 01299, RAIL3, 300274, 03968, AMS,

• Reduced Positions: VALE, 01109, BHP, OMAB, 01928, 2330, 601012, 02343, SBER, 002812, WEGE3, TCS, NVTK,

• Sold Out: NPN, 02318, EDU, GLTR,

• Warning! GuruFocus has detected 6 Warning Signs with AZRE. Click here to check it out.

• FPT 15-Year Financial Data

• The intrinsic value of FPT

• Peter Lynch Chart of FPT

For the details of Aberdeen Emerging Markets Equity Income Fund, Inc.'s stock buys and sells,go to https://www.gurufocus.com/guru/aberdeen+emerging+markets+equity+income+fund%2C+inc./current-portfolio/portfolio

These are the top 5 holdings of Aberdeen Emerging Markets Equity Income Fund, Inc.

Samsung Electronics Co Ltd (005935) – 736,593 shares, 8.42% of the total portfolio.

Taiwan Semiconductor Manufacturing Co Ltd (2330) – 2,004,000 shares, 8.12% of the total portfolio. Shares reduced by 4.48%

Tencent Holdings Ltd (00700) – 463,300 shares, 5.42% of the total portfolio. Shares added by 10.60%

Alibaba Group Holding Ltd (09988) – 981,500 shares, 3.56% of the total portfolio. Shares added by 7.57%

LONGi Green Energy Technology Co Ltd (601012) – 886,034 shares, 2.21% of the total portfolio. Shares reduced by 10.74%

New Purchase: Prosus NV (PRX)

Aberdeen Emerging Markets Equity Income Fund, Inc. initiated holding in Prosus NV. The purchase prices were between $67.66 and $82.48, with an estimated average price of $74.45. The stock is now traded at around $72.500000. The impact to a portfolio due to this purchase was 1.29%. The holding were 82,042 shares as of 2021-09-30.

New Purchase: TCS Group Holding PLC (TCS)

Aberdeen Emerging Markets Equity Income Fund, Inc. initiated holding in TCS Group Holding PLC. The purchase prices were between $82.72 and $100.55, with an estimated average price of $90.64. The stock is now traded at around $81.300000. The impact to a portfolio due to this purchase was 0.81%. The holding were 45,168 shares as of 2021-09-30.

New Purchase: Kotak Mahindra Bank Ltd (KOTAKBANK)

Aberdeen Emerging Markets Equity Income Fund, Inc. initiated holding in Kotak Mahindra Bank Ltd. The purchase prices were between $1641.65 and $2068.2, with an estimated average price of $1790.68. The stock is now traded at around $1748.400000. The impact to a portfolio due to this purchase was 0.76%. The holding were 144,706 shares as of 2021-09-30.

New Purchase: ASM International NV (ASM)

Aberdeen Emerging Markets Equity Income Fund, Inc. initiated holding in ASM International NV. The purchase prices were between $267.4 and $374.8, with an estimated average price of $318.07. The stock is now traded at around $382.800000. The impact to a portfolio due to this purchase was 0.68%. The holding were 8,821 shares as of 2021-09-30.

New Purchase: Li Ning Co Ltd (02331)

Aberdeen Emerging Markets Equity Income Fund, Inc. initiated holding in Li Ning Co Ltd. The purchase prices were between $72.35 and $107.7, with an estimated average price of $92.46. The stock is now traded at around $81.700000. The impact to a portfolio due to this purchase was 0.56%. The holding were 249,000 shares as of 2021-09-30.

New Purchase: Kakao Corp (035720)

Aberdeen Emerging Markets Equity Income Fund, Inc. initiated holding in Kakao Corp. The purchase prices were between $115000 and $163000, with an estimated average price of $144323. The stock is now traded at around $114500.000000. The impact to a portfolio due to this purchase was 0.41%. The holding were 21,215 shares as of 2021-09-30.

Added: FPT Corp (FPT)

Aberdeen Emerging Markets Equity Income Fund, Inc. added to a holding in FPT Corp by 114.61%. The purchase prices were between $84700 and $97500, with an estimated average price of $92543.9. The stock is now traded at around $93800.000000. The impact to a portfolio due to this purchase was 0.56%. The holding were 1,310,000 shares as of 2021-09-30.

Added: Vietnam Technological and Commercial Joint Stock b (TCB)

Aberdeen Emerging Markets Equity Income Fund, Inc. added to a holding in Vietnam Technological and Commercial Joint Stock b by 1125.00%. The purchase prices were between $48000 and $56600, with an estimated average price of $50934.1. The stock is now traded at around $48900.000000. The impact to a portfolio due to this purchase was 0.48%. The holding were 1,225,000 shares as of 2021-09-30.

Added: GDS Holdings Ltd (09698)

Aberdeen Emerging Markets Equity Income Fund, Inc. added to a holding in GDS Holdings Ltd by 288.42%. The purchase prices were between $48 and $74.3, with an estimated average price of $60.33. The stock is now traded at around $43.850000. The impact to a portfolio due to this purchase was 0.42%. The holding were 412,500 shares as of 2021-09-30.

Added: PT Bank Rakyat Indonesia (Persero) Tbk (BBRI)

Aberdeen Emerging Markets Equity Income Fund, Inc. added to a holding in PT Bank Rakyat Indonesia (Persero) Tbk by 34.29%. The purchase prices were between $3372.67 and $3850, with an estimated average price of $3558.73. The stock is now traded at around $4070.000000. The impact to a portfolio due to this purchase was 0.32%. The holding were 23,671,586 shares as of 2021-09-30.

Added: Sea Ltd (SE)

Aberdeen Emerging Markets Equity Income Fund, Inc. added to a holding in Sea Ltd by 32.90%. The purchase prices were between $267 and $353.36, with an estimated average price of $307.05. The stock is now traded at around $222.050000. The impact to a portfolio due to this purchase was 0.3%. The holding were 19,692 shares as of 2021-09-30.

Added: Zhongsheng Group Holdings Ltd (00881)

Aberdeen Emerging Markets Equity Income Fund, Inc. added to a holding in Zhongsheng Group Holdings Ltd by 48.30%. The purchase prices were between $59.9 and $76.65, with an estimated average price of $68.23. The stock is now traded at around $60.550000. The impact to a portfolio due to this purchase was 0.27%. The holding were 522,000 shares as of 2021-09-30.

Sold Out: Naspers Ltd (NPN)

Aberdeen Emerging Markets Equity Income Fund, Inc. sold out a holding in Naspers Ltd. The sale prices were between $2290.87 and $3011.33, with an estimated average price of $2634.29.

Sold Out: Ping An Insurance (Group) Co. of China Ltd (02318)

Aberdeen Emerging Markets Equity Income Fund, Inc. sold out a holding in Ping An Insurance (Group) Co. of China Ltd. The sale prices were between $51.35 and $74.9, with an estimated average price of $64.92.

Sold Out: New Oriental Education & Technology Group Inc (EDU)

Aberdeen Emerging Markets Equity Income Fund, Inc. sold out a holding in New Oriental Education & Technology Group Inc. The sale prices were between $1.7 and $7.81, with an estimated average price of $3.23.

Sold Out: Globaltrans Investment PLC (GLTR)

Aberdeen Emerging Markets Equity Income Fund, Inc. sold out a holding in Globaltrans Investment PLC. The sale prices were between $6.81 and $8.5, with an estimated average price of $7.61.

Reduced: Vale SA (VALE)

Aberdeen Emerging Markets Equity Income Fund, Inc. reduced to a holding in Vale SA by 30.96%. The sale prices were between $13.8 and $22.94, with an estimated average price of $19.65. The stock is now traded at around $13.910000. The impact to a portfolio due to this sale was -0.97%. Aberdeen Emerging Markets Equity Income Fund, Inc. still held 513,047 shares as of 2021-09-30.

Reduced: China Resources Land Ltd (01109)

Aberdeen Emerging Markets Equity Income Fund, Inc. reduced to a holding in China Resources Land Ltd by 44.22%. The sale prices were between $26 and $32.85, with an estimated average price of $29.41. The stock is now traded at around $33.300000. The impact to a portfolio due to this sale was -0.84%. Aberdeen Emerging Markets Equity Income Fund, Inc. still held 1,425,500 shares as of 2021-09-30.

Reduced: BHP Group PLC (BHP)

Aberdeen Emerging Markets Equity Income Fund, Inc. reduced to a holding in BHP Group PLC by 39.07%. The sale prices were between $370.38 and $486.99, with an estimated average price of $436.95. The stock is now traded at around $457.680000. The impact to a portfolio due to this sale was -0.59%. Aberdeen Emerging Markets Equity Income Fund, Inc. still held 167,316 shares as of 2021-09-30.

Reduced: Grupo Aeroportuario del Centro Norte SAB de CV (OMAB)

Aberdeen Emerging Markets Equity Income Fund, Inc. reduced to a holding in Grupo Aeroportuario del Centro Norte SAB de CV by 49.8%. The sale prices were between $46.62 and $52.86, with an estimated average price of $48.61. The stock is now traded at around $52.950000. The impact to a portfolio due to this sale was -0.53%. Aberdeen Emerging Markets Equity Income Fund, Inc. still held 55,318 shares as of 2021-09-30.

Reduced: Sands China Ltd (01928)

Aberdeen Emerging Markets Equity Income Fund, Inc. reduced to a holding in Sands China Ltd by 24.54%. The sale prices were between $14.86 and $32.6, with an estimated average price of $25.11. The stock is now traded at around $18.180000. The impact to a portfolio due to this sale was -0.39%. Aberdeen Emerging Markets Equity Income Fund, Inc. still held 1,538,800 shares as of 2021-09-30.

Reduced: Yunnan Energy New Material Co Ltd (002812)

Aberdeen Emerging Markets Equity Income Fund, Inc. reduced to a holding in Yunnan Energy New Material Co Ltd by 20.51%. The sale prices were between $231.7 and $310.08, with an estimated average price of $267.58. The stock is now traded at around $235.950000. The impact to a portfolio due to this sale was -0.16%. Aberdeen Emerging Markets Equity Income Fund, Inc. still held 95,368 shares as of 2021-09-30.

Here is the complete portfolio of Aberdeen Emerging Markets Equity Income Fund, Inc.. Also check out:1. Aberdeen Emerging Markets Equity Income Fund, Inc.'s Undervalued Stocks2. Aberdeen Emerging Markets Equity Income Fund, Inc.'s Top Growth Companies, and3. Aberdeen Emerging Markets Equity Income Fund, Inc.'s High Yield stocks4. Stocks that Aberdeen Emerging Markets Equity Income Fund, Inc. keeps buyingThis article first appeared on GuruFocus.

Investment company American Century Capital Portfolios Inc (Current Portfolio) buys iShares Russell 1000 Growth ETF, Teradyne Inc, Lennar Corp, Royal Dutch Shell PLC, Fox Corp, sells Royal Dutch Shell PLC, iShares Russell 1000 Value ETF, Lennar Corp, Linde PLC, Marsh & McLennan Inc during the 3-months ended 2021Q3, according to the most recent filings of the investment company, American Century Capital Portfolios Inc. As of 2021Q3, American Century Capital Portfolios Inc owns 183 stocks with a total value of $-5 million. These are the details of the buys and sells.

• New Purchases: MET, BBL, TXN, MS, SIEGY, CBSH, HRC, EIX, PB, SIE, AMCR, MC, AZE, VICI, MDLZ, OLPX,

• Added Positions: IWF, TER, LEN, RDS.A, FOXA, ATCO A, HEI, TSLA, MCHP, XLU, APD, USFD, PG, AGCO, PRU, AON, WM, AZN, CAT, BMY, BEN, PPG, AMZN, CSX, TRV, VOW, SLB, ANET, AEP, F, SO, SYK, ED, LRCX, VLO, XLV, UNM, LUMN, FBHS, C, BAC, CVNA, MTB, NA, SAN, CVX, VTR, BRX, TSCO, ARKK, STT, KR, OZK, WHR, CARR, HRL, SLG, KNEBV, NOC, VOLV B, UPM, 6367, OLLI, FDX, UNH, FDS, ANTO, DIS, HCA, SIG, KEYS, WERN, GPC, ABT, MRK, UL, CPB, AMC, ELUX B, NSC, CERN, SR, OGS, VOW3, 6754, HEIO, ADP, EPD,

• Reduced Positions: RDS.B, IWD, LEN.B, LIN, FOX, ATCO B, MMC, BHP, INTC, GS, HIG, GE, PNW, MSFT, HEI.A, BAX, ACI, JNJ, TTE, BKR, DUK, DE, EMR, 6503, FFIN, SEE, CAG, CSCO, SYY, RSG, BK, USB, AB, IYR, PTON, AKZA, PCAR, RHHBY, JCI, EQIX, MAS, SJM, AD, GL, PFE, CNC, AAP, MDT, XLY, JPM, DLTR, WMT, XEL, FCX, BDX, WELL, MNDI, TJX, GALP, UNP, AOS, SCHP, GM, PKG, HUSQ B, RY, VFC, BURL, CMS, HTLD, V, UHS,

• Sold Out: ALXN, AMAT, UMBF, AXTA, TPR, LMT, MGP, PFG, UPS, VZ, S, S, XMTR,

• Warning! GuruFocus has detected 3 Warning Sign with CAG. Click here to check it out.

• MRK 15-Year Financial Data

• The intrinsic value of MRK

• Peter Lynch Chart of MRK

For the details of AC ALTERNATIVES MARKET NEUTRAL VALUE FUND's stock buys and sells,go to https://www.gurufocus.com/guru/ac+alternatives+market+neutral+value+fund/current-portfolio/portfolio

These are the top 5 holdings of AC ALTERNATIVES MARKET NEUTRAL VALUE FUND

Tesla Inc (TSLA) – -2,793 shares, 45.50% of the total portfolio. Shares added by 9999.00%

Fox Corp (FOXA) – -47,769 shares, 40.25% of the total portfolio. Shares added by 9999.00%

Heico Corp (HEI) – -14,217 shares, 39.39% of the total portfolio. Shares added by 9999.00%

iShares Russell 1000 Growth ETF (IWF) – -6,768 shares, 38.97% of the total portfolio. Shares added by 9999.00%

Teradyne Inc (TER) – -16,779 shares, 38.48% of the total portfolio. Shares added by 9999.00%

New Purchase: MetLife Inc (MET)

American Century Capital Portfolios Inc initiated holding in MetLife Inc. The purchase prices were between $55.86 and $63.61, with an estimated average price of $60.22. The stock is now traded at around $58.590000. The impact to a portfolio due to this purchase was -8.23%. The holding were 6,347 shares as of 2021-09-30.

New Purchase: BHP Group PLC (BBL)

American Century Capital Portfolios Inc initiated holding in BHP Group PLC. The purchase prices were between $49.74 and $66.71, with an estimated average price of $60.12. The stock is now traded at around $57.370000. The impact to a portfolio due to this purchase was -6.05%. The holding were 5,682 shares as of 2021-09-30.

New Purchase: Texas Instruments Inc (TXN)

American Century Capital Portfolios Inc initiated holding in Texas Instruments Inc. The purchase prices were between $183.8 and $200.65, with an estimated average price of $190.58. The stock is now traded at around $184.240000. The impact to a portfolio due to this purchase was -4.51%. The holding were 1,116 shares as of 2021-09-30.

New Purchase: Morgan Stanley (MS)

American Century Capital Portfolios Inc initiated holding in Morgan Stanley. The purchase prices were between $87.64 and $105.45, with an estimated average price of $99.05. The stock is now traded at around $95.370000. The impact to a portfolio due to this purchase was -4.24%. The holding were 2,076 shares as of 2021-09-30.

New Purchase: Siemens AG (SIEGY)

American Century Capital Portfolios Inc initiated holding in Siemens AG. The purchase prices were between $74.42 and $88.48, with an estimated average price of $82.05. The stock is now traded at around $82.240000. The impact to a portfolio due to this purchase was -3.85%. The holding were 2,232 shares as of 2021-09-30.

New Purchase: Commerce Bancshares Inc (CBSH)

American Century Capital Portfolios Inc initiated holding in Commerce Bancshares Inc. The purchase prices were between $62.89 and $71.53, with an estimated average price of $67.11. The stock is now traded at around $66.320000. The impact to a portfolio due to this purchase was -3.41%. The holding were 2,446 shares as of 2021-09-30.

Added: Merck & Co Inc (MRK)

American Century Capital Portfolios Inc added to a holding in Merck & Co Inc by 56.21%. The purchase prices were between $71.68 and $78.83, with an estimated average price of $76.11. The stock is now traded at around $76.410000. The impact to a portfolio due to this purchase was -1.5%. The holding were 2,643 shares as of 2021-09-30.

Added: Electrolux AB (ELUX B)

American Century Capital Portfolios Inc added to a holding in Electrolux AB by 24.71%. The purchase prices were between $200.2 and $246.9, with an estimated average price of $221.85. The stock is now traded at around $208.300000. The impact to a portfolio due to this purchase was -0.45%. The holding were 4,648 shares as of 2021-09-30.

Sold Out: MGM Growth Properties LLC (MGP)

American Century Capital Portfolios Inc sold out a holding in MGM Growth Properties LLC. The sale prices were between $35.88 and $43.1, with an estimated average price of $39.21.

Sold Out: Principal Financial Group Inc (PFG)

American Century Capital Portfolios Inc sold out a holding in Principal Financial Group Inc. The sale prices were between $59.2 and $68.12, with an estimated average price of $64.21.

Sold Out: Applied Materials Inc (AMAT)

American Century Capital Portfolios Inc sold out a holding in Applied Materials Inc. The sale prices were between $127.2 and $144.09, with an estimated average price of $135.81.

Sold Out: Verizon Communications Inc (VZ)

American Century Capital Portfolios Inc sold out a holding in Verizon Communications Inc. The sale prices were between $54.01 and $56.55, with an estimated average price of $55.34.

Sold Out: UMB Financial Corp (UMBF)

American Century Capital Portfolios Inc sold out a holding in UMB Financial Corp. The sale prices were between $84.93 and $98.65, with an estimated average price of $91.24.

Sold Out: SentinelOne Inc (S)

American Century Capital Portfolios Inc sold out a holding in SentinelOne Inc. The sale prices were between $40.04 and $72.75, with an estimated average price of $54.95.

Reduced: iShares Russell 1000 Growth ETF (IWF)

American Century Capital Portfolios Inc reduced to a holding in iShares Russell 1000 Growth ETF by 9999%. The sale prices were between $271.28 and $291.83, with an estimated average price of $282.17. The stock is now traded at around $292.030000. The impact to a portfolio due to this sale was -43.72%. American Century Capital Portfolios Inc still held -6,768 shares as of 2021-09-30.

Reduced: Teradyne Inc (TER)

American Century Capital Portfolios Inc reduced to a holding in Teradyne Inc by 9999%. The sale prices were between $109.17 and $129.38, with an estimated average price of $121.64. The stock is now traded at around $155.710000. The impact to a portfolio due to this sale was -42.35%. American Century Capital Portfolios Inc still held -16,779 shares as of 2021-09-30.

Reduced: Lennar Corp (LEN)

American Century Capital Portfolios Inc reduced to a holding in Lennar Corp by 9999%. The sale prices were between $93.68 and $108.84, with an estimated average price of $102.27. The stock is now traded at around $105.810000. The impact to a portfolio due to this sale was -42.28%. American Century Capital Portfolios Inc still held -18,778 shares as of 2021-09-30.

Reduced: Royal Dutch Shell PLC (RDS.A)

American Century Capital Portfolios Inc reduced to a holding in Royal Dutch Shell PLC by 9999%. The sale prices were between $37.08 and $44.57, with an estimated average price of $40.36. The stock is now traded at around $41.930000. The impact to a portfolio due to this sale was -41.22%. American Century Capital Portfolios Inc still held -39,690 shares as of 2021-09-30.

Reduced: Fox Corp (FOXA)

American Century Capital Portfolios Inc reduced to a holding in Fox Corp by 9999%. The sale prices were between $34.72 and $40.25, with an estimated average price of $36.83. The stock is now traded at around $36.390000. The impact to a portfolio due to this sale was -40.47%. American Century Capital Portfolios Inc still held -47,769 shares as of 2021-09-30.

Reduced: Atlas Copco AB (ATCO A)

American Century Capital Portfolios Inc reduced to a holding in Atlas Copco AB by 9999%. The sale prices were between $523.2 and $610.6, with an estimated average price of $577.36. The stock is now traded at around $586.400000. The impact to a portfolio due to this sale was -39.67%. American Century Capital Portfolios Inc still held -29,500 shares as of 2021-09-30.

Here is the complete portfolio of AC ALTERNATIVES MARKET NEUTRAL VALUE FUND. Also check out:1. AC ALTERNATIVES MARKET NEUTRAL VALUE FUND's Undervalued Stocks2. AC ALTERNATIVES MARKET NEUTRAL VALUE FUND's Top Growth Companies, and3. AC ALTERNATIVES MARKET NEUTRAL VALUE FUND's High Yield stocks4. Stocks that AC ALTERNATIVES MARKET NEUTRAL VALUE FUND keeps buyingThis article first appeared on GuruFocus.

(Adds background)

Dec 21 (Reuters) – Miner BHP Group said on Tuesday it has received all regulatory and competition approvals for the unification of its corporate structure.

The company has been listed in Australia and the UK since 2001, when it merged with Billiton Plc, but proposed in August to consolidate the two by keeping its primary base in Sydney.

The decision to consolidate BHP's structure was triggered by recent changes in the company's portfolio and a drop in the earnings contribution from UK assets.

BHP expects the unification to be complete by Jan. 31, 2022 after the shareholders' vote for both BHP Group Ltd and BHP Group Plc is held on Jan. 20. (Reporting by Savyata Mishra in Bengaluru; Editing by Shounak Dasgupta)

(Reuters) – Canadian miner Noront Resources Ltd said on Tuesday that it had agreed to sell itself to Australian billionaire Andrew Forrest's Wyloo Metals, while giving BHP Group five business days to match the offer.

Earlier this month, Noront's top shareholder, Wyloo, raised its offer for the remaining shares in the company to C$1.10 apiece, outbidding BHP Group by 35 cents. The new offer values the miner at C$616.9 million ($477.22 million) and is 57% higher than Wyloo's prior bid.

Both suitors are vying for Noront's Eagle Nest nickel asset in Canada's so-called Ring of Fire, a high-grade deposit of the metal, as well as copper and palladium.

BHP this month ended its talks with Wyloo regarding its support for the takeover of Noront as the two parties failed to reach an agreement.

(Reporting by Arunima Kumar in Bengaluru; Editing by Anil D'Silva)

Investment company Fidelity Hastings Street Trust (Current Portfolio) buys Universal Music Group NV, SAP SE, Glencore PLC, Salesforce.com Inc, Meta Platforms Inc, sells BHP Group, Siemens AG during the 3-months ended 2021Q3, according to the most recent filings of the investment company, Fidelity Hastings Street Trust. As of 2021Q3, Fidelity Hastings Street Trust owns 90 stocks with a total value of $1.6 billion. These are the details of the buys and sells.

• New Purchases: UMG, SAP, GLEN, CRM, PHG, BABA, FDX,

• Added Positions: GE, WFC, XOM, BAC, FB, AAL, BA, FCX, SPG, HES, MAR, SYY, PNC, AIR, ABT, KDP, BMY, SO, BAYN, CI, NTDOY,

• Reduced Positions: BHP, VIV, JPM, SIEGY, CAT, BUD, UNH, GM, PSX, VZ, ROK,

• Warning! GuruFocus has detected 4 Warning Signs with FB. Click here to check it out.

• FB 15-Year Financial Data

• The intrinsic value of FB

• Peter Lynch Chart of FB

For the details of Fidelity Mega Cap Stock Fund's stock buys and sells,go to https://www.gurufocus.com/guru/fidelity+mega+cap+stock+fund/current-portfolio/portfolio

These are the top 5 holdings of Fidelity Mega Cap Stock Fund

General Electric Co (GE) – 1,142,904 shares, 7.33% of the total portfolio. Shares added by 8.49%

Microsoft Corp (MSFT) – 332,966 shares, 5.84% of the total portfolio.

Wells Fargo & Co (WFC) – 1,853,121 shares, 5.35% of the total portfolio. Shares added by 10.73%

Bank of America Corp (BAC) – 1,876,661 shares, 4.96% of the total portfolio. Shares added by 4.91%

Exxon Mobil Corp (XOM) – 1,312,487 shares, 4.80% of the total portfolio. Shares added by 8.23%

New Purchase: Universal Music Group NV (UMG)

Fidelity Hastings Street Trust initiated holding in Universal Music Group NV. The purchase prices were between $23 and $25.1, with an estimated average price of $23.59. The stock is now traded at around $24.000000. The impact to a portfolio due to this purchase was 0.81%. The holding were 487,399 shares as of 2021-09-30.

New Purchase: SAP SE (SAP)

Fidelity Hastings Street Trust initiated holding in SAP SE. The purchase prices were between $135.04 and $150.2, with an estimated average price of $145.19. The stock is now traded at around $137.650000. The impact to a portfolio due to this purchase was 0.77%. The holding were 92,100 shares as of 2021-09-30.

New Purchase: Glencore PLC (GLEN)

Fidelity Hastings Street Trust initiated holding in Glencore PLC. The purchase prices were between $2.96 and $3.52, with an estimated average price of $3.25. The stock is now traded at around $3.584000. The impact to a portfolio due to this purchase was 0.23%. The holding were 770,300 shares as of 2021-09-30.

New Purchase: Salesforce.com Inc (CRM)

Fidelity Hastings Street Trust initiated holding in Salesforce.com Inc. The purchase prices were between $237.55 and $285.63, with an estimated average price of $254.07. The stock is now traded at around $253.120000. The impact to a portfolio due to this purchase was 0.22%. The holding were 12,800 shares as of 2021-09-30.

New Purchase: Koninklijke Philips NV (PHG)

Fidelity Hastings Street Trust initiated holding in Koninklijke Philips NV. The purchase prices were between $44.18 and $49.04, with an estimated average price of $46.08. The stock is now traded at around $34.520000. The impact to a portfolio due to this purchase was 0.17%. The holding were 60,900 shares as of 2021-09-30.

New Purchase: Alibaba Group Holding Ltd (BABA)

Fidelity Hastings Street Trust initiated holding in Alibaba Group Holding Ltd. The purchase prices were between $145.08 and $221.87, with an estimated average price of $182.3. The stock is now traded at around $120.250000. The impact to a portfolio due to this purchase was 0.03%. The holding were 3,400 shares as of 2021-09-30.

Added: Meta Platforms Inc (FB)

Fidelity Hastings Street Trust added to a holding in Meta Platforms Inc by 40.61%. The purchase prices were between $336.95 and $382.18, with an estimated average price of $360.33. The stock is now traded at around $334.900000. The impact to a portfolio due to this purchase was 0.17%. The holding were 27,700 shares as of 2021-09-30.

Added: Anglo American PLC (AAL)

Fidelity Hastings Street Trust added to a holding in Anglo American PLC by 20.29%. The purchase prices were between $24.71 and $34.44, with an estimated average price of $29.97. The stock is now traded at around $28.470000. The impact to a portfolio due to this purchase was 0.13%. The holding were 363,359 shares as of 2021-09-30.

Added: Marriott International Inc (MAR)

Fidelity Hastings Street Trust added to a holding in Marriott International Inc by 53.85%. The purchase prices were between $130 and $154.32, with an estimated average price of $139.53. The stock is now traded at around $150.760000. The impact to a portfolio due to this purchase was 0.07%. The holding were 22,000 shares as of 2021-09-30.

Added: Abbott Laboratories (ABT)

Fidelity Hastings Street Trust added to a holding in Abbott Laboratories by 27.40%. The purchase prices were between $116.66 and $129.06, with an estimated average price of $122.86. The stock is now traded at around $136.090000. The impact to a portfolio due to this purchase was 0.04%. The holding were 26,500 shares as of 2021-09-30.

Added: Southern Co (SO)

Fidelity Hastings Street Trust added to a holding in Southern Co by 36.73%. The purchase prices were between $61.34 and $67.32, with an estimated average price of $64.37. The stock is now traded at around $67.550000. The impact to a portfolio due to this purchase was 0.02%. The holding were 20,100 shares as of 2021-09-30.

Reduced: BHP Group Ltd (BHP)

Fidelity Hastings Street Trust reduced to a holding in BHP Group Ltd by 36.24%. The sale prices were between $52.56 and $80.24, with an estimated average price of $68.45. The stock is now traded at around $58.450000. The impact to a portfolio due to this sale was -0.49%. Fidelity Hastings Street Trust still held 188,570 shares as of 2021-09-30.

Reduced: Siemens AG (SIEGY)

Fidelity Hastings Street Trust reduced to a holding in Siemens AG by 35.74%. The sale prices were between $74.42 and $88.48, with an estimated average price of $82.05. The stock is now traded at around $84.750000. The impact to a portfolio due to this sale was -0.05%. Fidelity Hastings Street Trust still held 17,979 shares as of 2021-09-30.

Here is the complete portfolio of Fidelity Mega Cap Stock Fund. Also check out:1. Fidelity Mega Cap Stock Fund's Undervalued Stocks2. Fidelity Mega Cap Stock Fund's Top Growth Companies, and3. Fidelity Mega Cap Stock Fund's High Yield stocks4. Stocks that Fidelity Mega Cap Stock Fund keeps buyingThis article first appeared on GuruFocus.

The merger between BHP Group's BHP petroleum arm and Woodside Petroleum Ltd (Woodside) has been approved by Australia's competition regulator, per a Reuters report. This clearance marks an important step toward the completion of the $28 billion merger, which will create a global top 10 independent oil and gas producer.Given that the merger would combine two of the four largest domestic natural gas suppliers in Western Australia, it necessitated a close review on whether any competition concerns might emerge. After assessing the supply of domestic natural gas in Western Australia, ACCC announced that the merger will not reduce competition in the domestic gas market. It is worth mentioning that Woodside will have a 20% share in the market. It is expected to encounter adequate competition from a range of suppliers of domestic gas — both big and small.BHP had announced the merger of its Petroleum business with Woodside on Aug 17. In November, BHP and Woodside signed a binding share sale agreement to merge their respective oil and gas portfolios. Woodside will acquire the entire share capital of BHP Petroleum International Pty Ltd (BHP Petroleum) in exchange for new Woodside shares.On completion of the merger, Woodside will issue new shares expected to comprise approximately 48% of all Woodside shares as consideration for the buyout of BHP Petroleum. Woodside plans to put the agreed $28 billion merger to a vote in the second quarter of 2022.If completed, the merger will create a global top 10 independent energy company by production and the largest energy company listed on the Australian Securities Exchange. The combined business will have a high-margin oil portfolio and long-life LNG assets. Estimated synergies of more than $400 million per annum are expected, via optimizing corporate processes and systems, leveraging combined capabilities and improving capital efficiency on future growth projects and exploration. The combined entity will have a strong growth profile with shared values and a focus on sustainable operations. It will have increased financial resilience, compared to BHP’s and Woodside’s standalone petroleum businesses.

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BHP’s shares have fallen 10.9% so far this year, compared with the industry’s decline of 8.2%.BHP’s share price has borne the brunt of the plunge in iron ore prices witnessed earlier this year. Iron ore demand had taken a hit on the intensified curbs on steel production in China that in turn impacted prices of the steel-making ingredient. However, iron ore prices have recently picked up on supply constraints and prospects of improving demand in China. China’s steel mills are anticipated to increase production as some companies completed crude steel output reduction targets. China’s property sector is also showing signs of improvement. This is likely to support iron ore prices. Copper prices have gained lately amid signs of an improvement in China’s real estate sector. This scenario bodes well for BHP.The company will gain on its ongoing efforts to make operations more efficient through smart technology adoption across the entire value chain and focus on lowering debt. Exit of the petroleum business, investment in growth projects and decision to unify its dual-listed structure will drive growth for the company as well.

Zacks Rank & Key Picks

BHP currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks from the basic materials space are AdvanSix Inc. ASIX, Celanese Corporation CE and The Chemours Company CC. While ASIX flaunts a Zacks Rank #1 (Strong Buy), CE and CC carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.AdvanSix has a projected earnings growth rate of 194.5% for the current year. The Zacks Consensus Estimate for earnings for the current year has been revised upward by 5.9% over the last 60 days.AdvanSix beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 46.9%. ASIX has rallied around 125% so far this year.Celanese has an expected earnings growth rate of 139.5% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised upward by 8.7% in the past 60 days.Celanese beat the Zacks Consensus Estimate for earnings in each of the last four quarters, the average surprise being 12.7%. The stock has surged around 23% so far this year.Chemours has an expected earnings growth rate of 105.1% for the current year. The Zacks Consensus Estimate for earnings for the current year has been revised upward by 10% in the past 60 days.Chemours beat the Zacks Consensus Estimate for earnings in the last four quarters. The company has a trailing four-quarter earnings surprise of roughly 34.2%, on average. It has appreciated around 31.5% year to date.

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 BHP Group Limited Sponsored ADR (BHP) : Free Stock Analysis Report Celanese Corporation (CE) : Free Stock Analysis Report The Chemours Company (CC) : Free Stock Analysis Report AdvanSix (ASIX) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research

In this article, we are going to talk about our list of the 10 dividend stocks with over 11% yield. You can skip our detailed analysis about dividend investing and go directly to the 5 Dividend Stocks with over 11% Yield.

A dividend payment is a percentage of the company's revenue distributed to shareholders, either as a congratulatory treat for good, stable times, or preemptive appeasement for bad times to prevent sell-offs. Historically, companies that pay out dividends have performed better than companies that don't. J.P. Morgan Asset Management released a report in 2013, which found that companies that initiated and grew their dividend payments between 1972 and 2012 generated annualized gains of 9.5% over these four decades. In contrast, companies that didn't offer any dividends returned a measly 1.6% over the same time frame. That is why a company with solid growth potential offering a high dividend yield is always on the radar of investors.

Today, some of the most exciting dividend stocks with high yields include The Procter & Gamble Company (NYSE:PG), Johnson & Johnson (NYSE:JNJ), The Coca-Cola Company (NYSE:KO), Vale S.A. (NYSE:VALE), and BHP Group (NYSE:BHP), among others discussed in detail below.

Photo by Nathan Dumlao on Unsplash

Our Methodology

We picked the top 10 dividend stocks with a dividend yield above 11%. All the companies in this list have a minimum market cap of $200 million and are based in the United States.

With this context in mind, let's now take a look at our list of the 10 dividend stocks with over 11% yield.

10 Dividend Stocks with over 11% Yield10. Sprague Resources LP (NYSE:SRLP)

Number of Hedge Fund Holders: 1

Dividend Yield: 12.63% (as of December 9)

First up on our list of stocks with high dividend yields is Sprague Resources LP (NYSE:SRLP), a US-based firm that deals in the purchase, distribution, storage, and sale of refined products and natural gas. The company operates through its segments: Refined Products, Natural Gas, Materials Handling, and Other Operations.

In the third quarter of 2021, 1 hedge fund reported owning shares in Sprague Resources LP (NYSE:SRLP), at a value of $334,000.

In October, Sprague Resources LP (NYSE:SRLP) reported plans to cut its distribution by 35% in a bid to fund growth capital projects and to strengthen its balance sheet.

Just like The Procter & Gamble Company (NYSE:PG), Johnson & Johnson (NYSE:JNJ), and The Coca-Cola Company (NYSE:KO), Vale S.A. (NYSE:VALE), and BHP Group (NYSE:BHP), Sprague Resources LP (NYSE:SRLP) is a top dividend stock for those looking to invest.

9. USA Compression Partners, LP (NYSE:USAC)

Number of Hedge Fund Holders: 2

Dividend Yield: 13.95% (as of December 9)

USA Compression Partners, LP (NYSE:USAC) offers compression services to independent producers and oil companies in the United States. The company also develops, operates, and maintains gas compression packages used by gas pipelines.

2 hedge funds out of 867 tracked by Insider Monkey reported owning shares in USA Compression Partners, LP (NYSE:USAC), as of the third quarter.

USA Compression Partners, LP (NYSE:USAC) offers a dividend yield of 13.95% as of December, with its management understood to be committed to this generous payout, even though a cyclical slowdown in the compressor business and a reliance on debt has put the company at risk of violating its debt agreements.

8. Green Plains Partners LP (NASDAQ:GPP)

Number of Hedge Fund Holders: 3

Dividend Yield: 12.54% (as of December 9)

Green Plains Partners LP (NASDAQ:GPP) offers fuel transportation and storage services in the United States, and currently offers a high dividend yield of 12.54%. 3 hedge funds out of 867 tracked by Insider Monkey disclosed ownership of stakes in Green Plains Partners LP (NASDAQ:GPP), with a combined value of $28.76 million. The same number of hedge funds reported owning shares in the company a quarter ago as well.

Jeff Osher's No Street Capital is the top stakeholder of Green Plains Partners LP (NASDAQ:GPP) shares, holding 2.13 million shares with a combined value of $28.11 million. Green Plains Partners LP (NASDAQ:GPP) gained 60.45% in the last year, and 78.62% in the year to date, as of December 9. Earnings per share for the third quarter came in at $0.47, which was in-line with consensus estimates.

The company has seen its distributions surge by more than 200% after recently refinancing its credit facility. Green Plains Partners LP (NASDAQ:GPP) covers these distribution payments using its ample free cash flow, although growth seems a bit optimistic given the almost negligent capital expenditure. The company's low leverage and strong liquidity makes its financial position very healthy and their distributions can be considered safe and sustainable.

In addition to The Procter & Gamble Company (NYSE:PG), Johnson & Johnson (NYSE:JNJ), and The Coca-Cola Company (NYSE:KO), dividend investors are paying attention to Green Plains Partners LP (NASDAQ:GPP) .

7. Icahn Enterprises L.P. (NASDAQ:IEP)

Number of Hedge Fund Holders: 4

Dividend Yield: 15.99% (as of December 9)

With a yield of 15.99% as of December 9, Icahn Enterprises L.P. (NASDAQ:IEP) ranks 7th on our list of stocks with a very high dividend yield. As of the third quarter, 4 hedge funds out of 867 elite funds tracked by Insider Monkey reported ownership of stakes in Icahn Enterprises L.P. (NASDAQ:IEP). The combined value of these stakes stood at $12.38 billion. The same number of hedge funds reported owning stakes in the company a quarter ago, with a combined value of $13.11 billion.

Icahn Enterprises L.P. (NASDAQ:IEP) is an industrial conglomerate with interests in automobiles, energy, food packaging, investment, and pharmaceuticals. Billionaire Carl Icahn is the top stakeholder in the company, with 247.10 million shares valued at $12.30 billion. The company was founded by Carl Icahn, who retains 95% of its stock.

In October, Icahn Enterprises L.P. (NASDAQ:IEP) announced the sale of 100% of its equity in scrap metal processor PSC Metals to SA Recycling, for $290 million. This transaction is expected to close by the end of this year.

6. Newtek Business Services Corp. (NASDAQ:NEWT)

Number of Hedge Fund Holders: 5

Dividend Yield: 14.15% (as of December 9)

Newtek Business Services Corp. (NASDAQ:NEWT) offers business and financial services to small and medium-sized companies in the United States.

Out of 867 hedge funds tracked by Insider Monkey, 5 hedge funds reported owning positions in Newtek Business Services Corp. (NASDAQ:NEWT), with a combined value of $7.82 million. This shows a bullish trend from last quarter where 4 hedge funds held $7.2 million worth of stakes in the company.

In addition to The Procter & Gamble Company (NYSE:PG), Johnson & Johnson (NYSE:JNJ), and The Coca-Cola Company (NYSE:KO), Vale S.A. (NYSE:VALE), and BHP Group (NYSE:BHP), Newtek Business Services Corp. (NASDAQ:NEWT) is an exciting dividend stock on the radar of investors.

Click to continue reading and see 5 Dividend Stocks with over 11% Yield.

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Disclosure: None. 10 Dividend Stocks with over 11% Yield is originally published on Insider Monkey.

Rating Action: Moody's affirms Woodside's Baa1 ratings; outlook remains negativeGlobal Credit Research – 15 Dec 2021Sydney, December 15, 2021 — Moody's Investors Service ("Moody's") has affirmed the Baa1 issuer rating of Woodside Petroleum Ltd. At the same time Moody's also affirmed the (P)Baa1 rating on the backed senior unsecured medium-term note (MTN) program and Baa1 backed senior unsecured ratings of Woodside Finance Limited. The outlook is negative."IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS. SUCH USE WOULD BE RECKLESS AND INAPPROPRIATE. SEE FULL DISCLAIMERS BELOW."RATINGS RATIONALEThe affirmation of Woodside's ratings and the negative outlook reflect Moody's expectation that the company's standalone credit profile and credit metrics will weaken from the significant spending and execution risks associated with the recently approved Pluto-Scarborough LNG growth project.Until a successful merger with BHP's (BHP Group Limited, A2 stable) petroleum business completes, and/or further sell downs of project stakes occur, the negative outlook continues to reflect Moody's expectation for ongoing execution and funding risks associated with Woodside's expansion projects. Given the large scale and funding needs of these projects, Moody's expects that without the merger completing, or further reductions in Woodside's stake in its projects, that credit metrics would weaken to near, or below, the current rating tolerance thresholds during project development.However, the affirmation also considers the potential positive impacts from a successful merger, which would significantly increase the scale of Woodside's production and reserves, while materially improving diversity and providing substantial additional cash flow to fund growth. As such, based on Moody's current assumptions, the rating agency expects that the rating could be stabilized on successful completion of the merger.If the merger does not complete as planned, Woodside's credit profile could weaken further, in part, reflecting BHP's put option for its stake in the Scarborough upstream portion of the $12 billion Pluto-Scarborough LNG project. If the put is executed, Woodside would be required to purchase BHP's stake in the project for around $1.0 billion, which would add to Woodside's already significant funding needs for the project and increase its stake in the project without the additional cash flow that a successful merger would bring. Woodside could also be required to make additional payments to BHP, including reimbursement fees of around $160 million. Under this scenario, Moody's expects that credit metrics would weaken to below its tolerance levels for the rating and that the company's exposure to potential execution risks from the project would increase.However, Woodside is continuing to progress a potential reduction of its equity stake in the Scarborough upstream project and a sell down of its around 82% stake in its $4.6 billion (100% basis) Sangomar project in Senegal, both of which would bring in proceeds to help fund Woodside's large capital needs over the next several years. Selling down these stakes would also reduce the company's capital requirements for these projects and its exposure to potential execution risks.Woodside is progressing with the merger with BHP's petroleum division following the signing of a binding share sale agreement (SSA) in November 2021. Under the terms of the agreement, Woodside will acquire the entire share capital of BHP Petroleum International Pty Ltd (BHP Petroleum) in exchange for new Woodside shares. A successful merger with BHP Petroleum would be credit positive as it would approximately double production levels, materially increase reserves, broaden operational and geographic diversity, and allow the company to benefit from high margin production over the next several years, which would materially increase cash flow generation and support project development.At the same time as announcing the binding SSA for the merger, Woodside also sanctioned the $12 billion Pluto-Scarborough LNG project. The sanctioning of this project followed an equity stake sale to GIP for a 49% share of the downstream Pluto Train 2 LNG processing portion of the project for an $835 million accelerated capital contribution. The downstream portion of the project represents around $6.3 billion of the $12 billion total project cost on an 100% basis.The sell down of Woodside's share in Pluto Train 2 is in line with management's target to reduce its stakes in growth projects to help reduce funding needs and lessen exposure to execution risks associated with its growth ambitions. While Moody's sees the stake sale as supportive for Woodside's credit profile, the rating agency notes that under the terms of the agreement Woodside retains an increased exposure to cost overruns up to the level of the accelerated capital contribution paid by GIP. However, under these terms Woodside also retains the benefits if the project comes in under its expected budget.The Baa1 rating continues to reflect Woodside's large and diversified hydrocarbon reserve base and consistent production levels. Woodside's NWS LNG, Pluto LNG, Wheatstone LNG and domestic gas operations continue to benefit from long-term offtake contracts with primarily highly rated counterparties, which will underpin volumes and benefit from more stable pricing mechanisms that helps to provide some buffer to the volatility in oil and gas prices. Woodside also continues to benefit from low production costs across its operations. The company's low-cost position and stability from contracts is evident in its ability to generate peer leading EBITDA margins averaging around 75% for the last five years.The rating is balanced against Woodside's: (1) exposure to the cyclical hydrocarbon industry, which can lead to significant swings in earnings and cash flow; (2) concentration risk and the reliance on 3 LNG plants for the vast majority of revenue and earnings; (3) increasing carbon transition and regulatory risks facing upstream companies as the world moves towards cleaner energy, and; (4) the capital intensity of its current and future projects, including Scarborough-Pluto LNG, which will come with significant execution risks.OUTLOOKThe negative outlook reflects Moody's expectation that, without a successful completion of the merger or further equity reductions in its large growth projects, Woodside's credit metrics will be at weak levels for the rating, which could lead to a downgrade without other initiatives to improve its financial profile.ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) RISKSESG attributes have limited credit impact today but have the potential to pressure Woodside's ratings over time (CIS-3). Woodside has high environmental risk (E-4) exposure and high social risk (S-4) exposure partially mitigated by its conservative financial policies, solid governance practices and low production costs.Woodside will continue to face a high level of environmental and social risks largely driven by a high-risk exposure to carbon transition, as well as changing demographic and societal trends from the greater community focus and push by global governments to reduce carbon emissions and meet net zero pledges to limit climate change. However, Woodside's primarily gas production, with a significant exposure to LNG sold to Asia, where gas will play a key role in transition strategies, helps to mitigate this risk. Woodside also has a 2030 target to reduce scope 1 and 2 emissions by 30% and aspiration for net zero by 2050.The company has also recently guided that it targeting to spend around $5 billion on new energy projects by 2030. Woodside has several project opportunities it is considering with four potential projects expected to progress over the next several years focused on hydrogen, ammonia and solar.Governance risks are neutral-to-low (G-2) reflecting Woodside's conservative financial policies, good governance, and a successful track record of executing on large projects and meeting guidance. Woodside's conservative financial management is highlighted by its excellent liquidity levels, low gearing and conservative gearing target, as well as its track record of issuing equity and implementing dividend reinvestment programs to support credit metrics.LIQUIDITYMoody's considers Woodside's liquidity as excellent benefiting from around $3.0 billion of cash and around $3.0 billion of availability under committed credit facilities for June 2021.This combined with operating cash flow of around $2.7-3.0 billion under Moody's base case assumptions, will be more than adequate to cover cash uses which includes capital expenditures (net of sales proceeds) and dividends (net of DRP proceeds) of around $3.6-3.8 billion over the next 12 months.A successful merger would further improve Woodside's liquidity as it would add significant cash flow generation to support Woodside's funding needs for its large growth projects.FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGSGiven the negative outlook, a ratings upgrade is unlikely over the next 12-18 months reflecting our expectation for volatility in commodity prices and the increased funding requirements and execution risks stemming from the company's large project pipeline.Woodside's outlook could be stabilized if: 1) the merger is successfully completed as planned, or 2) the company executes on further reductions in its equity stakes in its large projects, such that credit metrics will be sustained at appropriate levels for the rating through project development. Specifically, the ratings could be stabilized if RCF/net debt remains above 35% on a sustained basis.Woodside's rating could be downgraded if: 1) oil prices remain low for a prolonged period such that there is a significant decline in earnings and operating cash flow; 2) the merger does not complete and there is not a corresponding reduction in equity stakes in major projects; the company pursues a more aggressive financial policy, which result in weaker credit metrics, and/or; 3) liquidity declines meaningfully.Specifically, credit metrics indicative of downward pressure include Woodside's RCF/net debt sustained below 35% and/or EBITDA/Interest expense falling below 6.0x.The principal methodology used in these ratings was Independent Exploration and Production published in August 2021 and available at https://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBC_1284973. Alternatively, please see the Rating Methodologies page on www.moodys.com for a copy of this methodology.BACKGROUNDWoodside Petroleum Ltd (Woodside) is an Australian independent exploration and production (E&P) company, with an annual production of around 100 million barrels of oil equivalent (boe), and proved and probable reserves of around 1.04 billion boe as of 31 December 2020.Woodside's operations produce LNG, crude oil, condensate, pipeline gas for domestic consumption and LPG. Woodside operates the significant NWS joint venture in the state of Western Australia. The project contributed 31 MMboe of LNG in 2020. The company also operates the Pluto LNG project, which contributed around 44 MMboe of LNG and has ownership stakes in the Wheatstone LNG project, which delivered around 15 MMboe for the year.REGULATORY DISCLOSURESFor further specification of Moody's key rating assumptions and sensitivity analysis, see the sections Methodology Assumptions and Sensitivity to Assumptions in the disclosure form. Moody's Rating Symbols and Definitions can be found at: https://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBC_79004.For ratings issued on a program, series, category/class of debt or security this announcement provides certain regulatory disclosures in relation to each rating of a subsequently issued bond or note of the same series, category/class of debt, security or pursuant to a program for which the ratings are derived exclusively from existing ratings in accordance with Moody's rating practices. For ratings issued on a support provider, this announcement provides certain regulatory disclosures in relation to the credit rating action on the support provider and in relation to each particular credit rating action for securities that derive their credit ratings from the support provider's credit rating. For provisional ratings, this announcement provides certain regulatory disclosures in relation to the provisional rating assigned, and in relation to a definitive rating that may be assigned subsequent to the final issuance of the debt, in each case where the transaction structure and terms have not changed prior to the assignment of the definitive rating in a manner that would have affected the rating. For further information please see the ratings tab on the issuer/entity page for the respective issuer on www.moodys.com.For any affected securities or rated entities receiving direct credit support from the primary entity(ies) of this credit rating action, and whose ratings may change as a result of this credit rating action, the associated regulatory disclosures will be those of the guarantor entity. Exceptions to this approach exist for the following disclosures, if applicable to jurisdiction: Ancillary Services, Disclosure to rated entity, Disclosure from rated entity.The ratings have been disclosed to the rated entity or its designated agent(s) and issued with no amendment resulting from that disclosure.These ratings are solicited. Please refer to Moody's Policy for Designating and Assigning Unsolicited Credit Ratings available on its website www.moodys.com.Regulatory disclosures contained in this press release apply to the credit rating and, if applicable, the related rating outlook or rating review.Moody's general principles for assessing environmental, social and governance (ESG) risks in our credit analysis can be found at http://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBC_1288235.The Global Scale Credit Rating on this Credit Rating Announcement was issued by one of Moody's affiliates outside the EU and is endorsed by Moody's Deutschland GmbH, An der Welle 5, Frankfurt am Main 60322, Germany, in accordance with Art.4 paragraph 3 of the Regulation (EC) No 1060/2009 on Credit Rating Agencies. Further information on the EU endorsement status and on the Moody's office that issued the credit rating is available on www.moodys.com.The Global Scale Credit Rating on this Credit Rating Announcement was issued by one of Moody's affiliates outside the UK and is endorsed by Moody's Investors Service Limited, One Canada Square, Canary Wharf, London E14 5FA under the law applicable to credit rating agencies in the UK. Further information on the UK endorsement status and on the Moody's office that issued the credit rating is available on www.moodys.com.Please see www.moodys.com for any updates on changes to the lead rating analyst and to the Moody's legal entity that has issued the rating.Please see the ratings tab on the issuer/entity page on www.moodys.com for additional regulatory disclosures for each credit rating. Matthew Moore Senior Vice President Corporate Finance Group Moody's Investors Service Pty. Ltd. Level 10 1 O'Connell Street Sydney NSW 2000 Australia JOURNALISTS: 61 2 9270 8141 Client Service: 852 3551 3077 Patrick Winsbury Associate Managing Director Corporate Finance Group JOURNALISTS: 61 2 9270 8141 Client Service: 852 3551 3077 Releasing Office: Moody's Investors Service Pty. Ltd. Level 10 1 O'Connell Street Sydney NSW 2000 Australia JOURNALISTS: 61 2 9270 8141 Client Service: 852 3551 3077 © 2021 Moody’s Corporation, Moody’s Investors Service, Inc., Moody’s Analytics, Inc. and/or their licensors and affiliates (collectively, “MOODY’S”). All rights reserved.CREDIT RATINGS ISSUED BY MOODY'S CREDIT RATINGS AFFILIATES ARE THEIR CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES, AND MATERIALS, PRODUCTS, SERVICES AND INFORMATION PUBLISHED BY MOODY’S (COLLECTIVELY, “PUBLICATIONS”) MAY INCLUDE SUCH CURRENT OPINIONS. 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Investment company VIP Growth and Income Portfolio (Current Portfolio) buys Universal Music Group NV, Vertiv Holdings Co, Tourmaline Oil Corp, Churchill Downs Inc, Keurig Dr Pepper Inc, sells BHP Group, British American Tobacco PLC, AmerisourceBergen Corp, AbbVie Inc, Harley-Davidson Inc during the 3-months ended 2021Q3, according to the most recent filings of the investment company, VIP Growth and Income Portfolio. As of 2021Q3, VIP Growth and Income Portfolio owns 181 stocks with a total value of $1.9 billion. These are the details of the buys and sells.

• New Purchases: UMG, VRT, TOU, GLEN, AAL, 4901, GFL, EPD, SUBC, PCAR,

• Added Positions: CHDN, KDP, GE, WFC, SYY, XOM, PHG, LUN, BA, HES, SO, AYI, FCX, LW, CNQ, MAR, UCB, SPG, FM, AIR, EDEN, SWMA, LRCX, BMY, REL, CAH, CI, SPB, SAP, NDSN, CPA, DCI, DUK, FDX, IMO, ORI, NTDOY, MTB, CVE, HNI, ABT, FLS,

• Reduced Positions: PSX, VZ, QCOM, CAT, CMCSA, JPM, UNH, VIV, IPG, JNJ, V, STT, MMM, HCSG, BUD, RDN, VNT, WHR, FIS, ATVI, PG, KOS, ALSN,

• Sold Out: BHP, BTI, ABC, ABBV, HOG, UDG,

• Warning! GuruFocus has detected 5 Warning Signs with CHDN. Click here to check it out.

• CHDN 15-Year Financial Data

• The intrinsic value of CHDN

• Peter Lynch Chart of CHDN

For the details of VIP Growth and Income Portfolio's stock buys and sells,go to https://www.gurufocus.com/guru/vip+growth+and+income+portfolio/current-portfolio/portfolio

These are the top 5 holdings of VIP Growth and Income Portfolio

Microsoft Corp (MSFT) – 446,218 shares, 6.62% of the total portfolio.

General Electric Co (GE) – 1,124,931 shares, 6.10% of the total portfolio. Shares added by 2.82%

Wells Fargo & Co (WFC) – 2,078,979 shares, 5.07% of the total portfolio. Shares added by 3.24%

Exxon Mobil Corp (XOM) – 1,485,100 shares, 4.59% of the total portfolio. Shares added by 3.66%

Bank of America Corp (BAC) – 1,689,712 shares, 3.77% of the total portfolio. Shares reduced by 0.94%

New Purchase: Universal Music Group NV (UMG)

VIP Growth and Income Portfolio initiated holding in Universal Music Group NV. The purchase prices were between $23 and $25.1, with an estimated average price of $23.59. The stock is now traded at around $24.370000. The impact to a portfolio due to this purchase was 0.57%. The holding were 410,300 shares as of 2021-09-30.

New Purchase: Vertiv Holdings Co (VRT)

VIP Growth and Income Portfolio initiated holding in Vertiv Holdings Co. The purchase prices were between $23.55 and $28.59, with an estimated average price of $26.61. The stock is now traded at around $24.340000. The impact to a portfolio due to this purchase was 0.48%. The holding were 381,500 shares as of 2021-09-30.

New Purchase: Tourmaline Oil Corp (TOU)

VIP Growth and Income Portfolio initiated holding in Tourmaline Oil Corp. The purchase prices were between $29.95 and $44.25, with an estimated average price of $35.61. The stock is now traded at around $39.740000. The impact to a portfolio due to this purchase was 0.37%. The holding were 202,100 shares as of 2021-09-30.

New Purchase: Glencore PLC (GLEN)

VIP Growth and Income Portfolio initiated holding in Glencore PLC. The purchase prices were between $2.96 and $3.52, with an estimated average price of $3.25. The stock is now traded at around $3.670000. The impact to a portfolio due to this purchase was 0.17%. The holding were 687,900 shares as of 2021-09-30.

New Purchase: Anglo American PLC (AAL)

VIP Growth and Income Portfolio initiated holding in Anglo American PLC. The purchase prices were between $24.71 and $34.44, with an estimated average price of $29.97. The stock is now traded at around $28.980000. The impact to a portfolio due to this purchase was 0.14%. The holding were 77,957 shares as of 2021-09-30.

New Purchase: FUJIFILM Holdings Corp (4901)

VIP Growth and Income Portfolio initiated holding in FUJIFILM Holdings Corp. The purchase prices were between $7831 and $10015, with an estimated average price of $8692.3. The stock is now traded at around $8463.000000. The impact to a portfolio due to this purchase was 0.07%. The holding were 16,300 shares as of 2021-09-30.

Added: Churchill Downs Inc (CHDN)

VIP Growth and Income Portfolio added to a holding in Churchill Downs Inc by 240.00%. The purchase prices were between $177.29 and $243.18, with an estimated average price of $203.49. The stock is now traded at around $220.620000. The impact to a portfolio due to this purchase was 0.18%. The holding were 20,400 shares as of 2021-09-30.

Added: Keurig Dr Pepper Inc (KDP)

VIP Growth and Income Portfolio added to a holding in Keurig Dr Pepper Inc by 58.80%. The purchase prices were between $33.87 and $36.07, with an estimated average price of $34.97. The stock is now traded at around $35.060000. The impact to a portfolio due to this purchase was 0.17%. The holding were 249,800 shares as of 2021-09-30.

Added: Sysco Corp (SYY)

VIP Growth and Income Portfolio added to a holding in Sysco Corp by 25.19%. The purchase prices were between $70.47 and $81.66, with an estimated average price of $76.29. The stock is now traded at around $73.520000. The impact to a portfolio due to this purchase was 0.16%. The holding were 193,800 shares as of 2021-09-30.

Added: Koninklijke Philips NV (PHG)

VIP Growth and Income Portfolio added to a holding in Koninklijke Philips NV by 84.53%. The purchase prices were between $44.18 and $49.04, with an estimated average price of $46.08. The stock is now traded at around $34.570000. The impact to a portfolio due to this purchase was 0.15%. The holding were 135,782 shares as of 2021-09-30.

Added: Lundin Mining Corp (LUN)

VIP Growth and Income Portfolio added to a holding in Lundin Mining Corp by 9297.30%. The purchase prices were between $8.77 and $11.77, with an estimated average price of $10.47. The stock is now traded at around $10.900000. The impact to a portfolio due to this purchase was 0.13%. The holding were 347,700 shares as of 2021-09-30.

Added: Southern Co (SO)

VIP Growth and Income Portfolio added to a holding in Southern Co by 35.29%. The purchase prices were between $61.34 and $67.32, with an estimated average price of $64.37. The stock is now traded at around $65.970000. The impact to a portfolio due to this purchase was 0.1%. The holding were 122,300 shares as of 2021-09-30.

Sold Out: BHP Group Ltd (BHP)

VIP Growth and Income Portfolio sold out a holding in BHP Group Ltd. The sale prices were between $52.56 and $80.24, with an estimated average price of $68.45.

Sold Out: British American Tobacco PLC (BTI)

VIP Growth and Income Portfolio sold out a holding in British American Tobacco PLC. The sale prices were between $35.28 and $39.52, with an estimated average price of $37.57.

Sold Out: AmerisourceBergen Corp (ABC)

VIP Growth and Income Portfolio sold out a holding in AmerisourceBergen Corp. The sale prices were between $112.6 and $125.8, with an estimated average price of $120.16.

Sold Out: AbbVie Inc (ABBV)

VIP Growth and Income Portfolio sold out a holding in AbbVie Inc. The sale prices were between $106.4 and $120.78, with an estimated average price of $114.24.

Sold Out: Harley-Davidson Inc (HOG)

VIP Growth and Income Portfolio sold out a holding in Harley-Davidson Inc. The sale prices were between $36.61 and $46.99, with an estimated average price of $40.41.

Sold Out: UDG Healthcare PLC (UDG)

VIP Growth and Income Portfolio sold out a holding in UDG Healthcare PLC. The sale prices were between $10.68 and $10.79, with an estimated average price of $10.75.

Here is the complete portfolio of VIP Growth and Income Portfolio. Also check out:1. VIP Growth and Income Portfolio's Undervalued Stocks2. VIP Growth and Income Portfolio's Top Growth Companies, and3. VIP Growth and Income Portfolio's High Yield stocks4. Stocks that VIP Growth and Income Portfolio keeps buyingThis article first appeared on GuruFocus.

In this article, we discuss the 13 uranium stocks popular on Reddit. If you want to skip our detailed analysis of these stocks, go directly to the 5 Uranium Stocks Popular on Reddit.

Interest in the use of uranium as an alternative to oil and natural gas in the generation of power, especially in the context of skyrocketing energy prices and a recent global climate summit, has soared in the past few months, driving a rally in the prices of uranium stocks that has been given a further boost by the interest of retail investors in uranium futures. Many uranium firms have registered double-digits share price growth in the past year as the Reddit crowd urges a buying spree, betting that uranium will be used to decarbonize the world along with renewables.

Sprott Physical Uranium Trust Fund (OTC:SRUUF), a Canada-based fund, has been buying up uranium and presently holds 32.6 million pounds of uranium, roughly 76 percent of the sales made last year by the largest uranium firm in the world. According to S&P Global, a market intelligence firm, the uranium market has heated up to the point that uranium firms are proposing to finance a separate fund for physical uranium purchases. The global demand for the radioactive material is set to rise from 180 million pounds to 200 pounds by 2026.

Even as confidence in the ability of nuclear energy to act as a viable alternative to fossil fuels improves, there are still lingering questions about the environmental impact of nuclear fuel and waste that could play a vital role in shaping uranium futures. However, as the world transitions away from oil and gas, the reliability of nuclear power, as opposed to renewable sources like water, wind, or solar, could sway the equation. Paul Goranson, the head of a uranium trade association, said in October this year that a physical uranium fund would push up the prices of the mineral.

Investors who want to ride the rally in uranium prices along with Redditors should check out some of the top uranium stocks to buy now that include Cameco Corporation (NYSE:CCJ), NexGen Energy Ltd. (NYSE:NXE), Denison Mines Corp. (NYSE:DNN), Rio Tinto Group (NYSE:RIO), and BHP Group (NYSE:BHP), among others.

Our Methodology

These were selected based on the hype around the companies on different Reddit forums. The analyst ratings and business fundamentals of each stock are also discussed in a bid to weed out “meme stocks” and provide readers with some informed context for their investment choices. Hedge fund sentiment was included as a classifier as well.

The hedge fund sentiment around each stock was calculated using the data of 867 hedge funds tracked by Insider Monkey.

13 Uranium Stocks Popular on Reddit

Image by Markus Distelrath from Pixabay

Uranium Stocks Popular on Reddit13. Paladin Energy Limited (FRA:PUR.F)

Number of Hedge Fund Holders: N/A

Paladin Energy Limited (FRA:PUR.F) develops and operates uranium mines. It owns properties in Australia, Canada, and parts of Africa. One of the premier projects of the firm is the Langer Heinrich mine located in the Namib Desert of Namibia.

Paladin Energy Limited (FRA:PUR.F) has a market cap of $1.5 billion and was founded in 1993. It is headquartered in Australia. Redditors have been pouring into the firm to ride the rally in uranium prices over the past few months.

In June, Paladin Energy Limited (FRA:PUR.F) had announced that it would be selling a 65% stake in the Kayelekera mine to Hylea Metals, another Australian mining firm, in a deal worth around A$5 million.

Just like Sprott Physical Uranium Trust Fund (OTC:SRUUF), Cameco Corporation (NYSE:CCJ), NexGen Energy Ltd. (NYSE:NXE), Denison Mines Corp. (NYSE:DNN), Rio Tinto Group (NYSE:RIO), and BHP Group (NYSE:BHP), Paladin Energy Limited (FRA:PUR.F) is one of the stocks attracting the attention of retail investors.

12. Yellow Cake plc (LSE:YCA.L)

Number of Hedge Fund Holders: N/A

Yellow Cake plc (LSE:YCA.L) is a specialist firm working in the uranium sector. The company has interests in the purchase and holding of uranium oxide concentrates. It has a market cap of $790 million and was founded in 2018.

The 52-week price range of Yellow Cake plc (LSE:YCA.L) stock lies between $1.8 and $5.6. The share price of the firm has jumped 41% in the past twelve months amid a broader rally in the prices of uranium stocks.

Yellow Cake plc (LSE:YCA.L) recently revealed that it had agreed to sell and buy back uranium from NAC Kazatomprom JSC at a net cost of $6.6 million. NAC Kazatomprom JSC is a uranium firm that operates from Central Asia.

11. JSC National Atomic Company Kazatomprom (IOB:KAP.IL)

Number of Hedge Fund Holders: N/A

JSC National Atomic Company Kazatomprom (IOB:KAP.IL) is the largest producer and seller of uranium in the world. It is based in Kazakhstan. Redditors have been piling into the stock in hopes of turning quick profits.

In October, JSC National Atomic Company Kazatomprom (IOB:KAP.IL) announced that it had made a strategic investment worth $50 million Anu Energy OEIC, a fund that allows investors to trade shares in radioactive material with a billion-year-plus half-life.

Mazhit Sharipov, the CEO of the firm, has said that the investment comes amid tightening supply of uranium that will drive benefits for shareholders. JSC National Atomic Company Kazatomprom (IOB:KAP.IL) supplied nearly 23% of the global uranium production last year.

10. Uranium Royalty Corp. (NASDAQ:UROY)

Number of Hedge Fund Holders: N/A

Uranium Royalty Corp. (NASDAQ:UROY) is a pure-play uranium royalty firm. It is based in Canada and has a market cap of $332 million. The firm owns and manages uranium interests spread across the world.

Uranium Royalty Corp. (NASDAQ:UROY) stock has rallied in the past few days after the company announced that it had agreed to purchase a bulk order of uranium from CGN Global Uranium, the largest nuclear operator in China.

On October 20, investment advisory Canaccord raised the price target on Uranium Royalty Corp. (NASDAQ:UROY) stock to C$7.50 from C$7 and kept a Speculative Buy rating. Analyst Katie Lachapelle issued the ratings update.

9. Lightbridge Corporation (NASDAQ:LTBR)

Number of Hedge Fund Holders: 1

Lightbridge Corporation (NASDAQ:LTBR) develops nuclear fuel technology. The stock recently climbed to a 52-week high of $14.60 amid interest from retail investors on Reddit and improved earnings results that saw losses narrow compared to the previous quarter.

In early November, Lightbridge Corporation (NASDAQ:LTBR) announced that it had received a Notice of Allowance from patent authorities in the US regarding PWR, a metallic nuclear fuel assembly designed by the firm for Western-type pressurized water reactors.

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Schonfeld Strategic Advisors is a leading shareholder in Lightbridge Corporation (NASDAQ:LTBR) with 15,100 shares worth more than $73,000.

8. Ur-Energy Inc. (NYSE:URG)

Number of Hedge Fund Holders: 6

Ur-Energy Inc. (NYSE:URG) explores and develops uranium mineral properties. The shares have climbed more than 122% in the past twelve months as prices soared due to the increase in demand with governments realizing the energy potential of uranium in a carbon-free world.

Alliance Global Partners analyst Jake Sekelsky recently reiterated a Buy rating on Ur-Energy Inc. (NYSE:URG) stock and raised the price target to $2.50 from $2.20, noting the firm was well-positioned to become a domestic producer of uranium.

At the end of the third quarter of 2021, 6 hedge funds in the database of Insider Monkey held stakes worth $14 million in Ur-Energy Inc. (NYSE:URG), compared to 4 in the preceding quarter worth $8 million.

7. Uranium Energy Corp. (NYSE:UEC)

Number of Hedge Fund Holders: 12

Uranium Energy Corp. (NYSE:UEC) extracts and processes uranium. Some of the projects that the firm has interests in include the Palangana mine, the Slick Rock project, the Reno Creek project, and the Diabase project, among others.

On November 9, Uranium Energy Corp. (NYSE:UEC) stock jumped over 3% after the firm announced that it would be acquiring Uranium One Americas, a uranium mining firm, in a deal worth $131 million.

At the end of the third quarter of 2021,12 hedge funds in the database of Insider Monkey held stakes worth $10 million in Uranium Energy Corp. (NYSE:UEC), compared to 14 in the previous quarter worth $9 million.

6. Energy Fuels Inc. (NYSE:UUUU)

Number of Hedge Fund Holders: 13

Energy Fuels Inc. (NYSE:UUUU) engages in the uranium recovery business. The firm posted earnings for the third quarter in early November, reporting a revenue of $0.72 million, up 46% year-on-year and beating estimates by $0.02 million.

Noble Capital analyst Michael Heim has an Outperform rating on Energy Fuels Inc. (NYSE:UUUU) stock with a price target of $9. The analyst expects the firm to benefit from the increase in uranium prices as global demand goes up without a significant increase in supply.

Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in Energy Fuels Inc. (NYSE:UUUU) with 388,825 shares worth more than $2.7 million.

In addition to Cameco Corporation (NYSE:CCJ), NexGen Energy Ltd. (NYSE:NXE), Denison Mines Corp. (NYSE:DNN), Rio Tinto Group (NYSE:RIO), and BHP Group (NYSE:BHP), Energy Fuels Inc. (NYSE:UUUU) is one of the stocks on the radar of the Reddit crowd.

Click to continue reading and see 5 Uranium Stocks Popular on Reddit.

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Disclosure. None. 13 Uranium Stocks Popular on Reddit is originally published on Insider Monkey.

(Updates with background; adds details on the offer)

Dec 14 (Reuters) – Canadian miner Noront Resources Ltd said on Tuesday it plans to negotiate directly with Australian billionaire Andrew Forrest's Wyloo Metals on the company's raised buyout offer.

Wyloo, Noront's top shareholder, increased its offer to C$1.10 a share on Monday, valuing the miner at C$616.9 million ($481.28 million), 57% higher than its prior bid and outmatching BHP Group's C$0.75 per-share offer.

The move by Wyloo is the latest twist in the bidding war between the two miners from Australia for the supply of a key battery metal used in electric vehicles.

Noront on Tuesday did not provide any update whether its board is changing its recommendation for the BHP's offer, but added that the company is reviewing Wyloo's proposal.

BHP on Monday also ended talks with Wyloo regarding its support for the takeover of Noront as the two parties were unable to reach an agreement.

At the heart of the tussle is Noront's Eagle Nest nickel asset in Canada's so-called Ring of Fire, a high-grade deposit of the metal, as well as copper and palladium.

($1 = 1.2818 Canadian dollars) (Reporting by Arunima Kumar in Bengaluru; Editing by Shailesh Kuber)

LONDON (Reuters) – Miner BHP Group has completed a $30 million blockchain trade in copper concentrate with China Minmetals Corp, online platform MineHub said on Tuesday.

The pilot transaction was the first cross-border shipment for copper concentrates using blockchain, MineHub said in a statement.

"We’re planning another trial with an expanded scope in early 2022," BHP Chief Commercial Officer Vandita Pant said in an article on BHP's website.

Blockchain is a digital ledger that forms the backbone of many cryptocurrencies such as bitcoin.

In June 2020, BHP used MineHub for its first blockchain trade in iron ore with China Baoshan Iron & Steel Co Ltd.

Commodity groups in recent years have been seeking to save money by digitising a sector that still uses millions of paper documents, faxes and emails, but progress has been slow.

The settlement process for copper concentrates – partially processed ore – is complex, involving data moving between banks, logistics providers and government departments.

The blockchain copper transaction also included carbon emissions data and metals assay results showing the various elements of the concentrate, MineHub Chief Executive Arnoud Busmann said.

The destinations of the shipment, which was completed recently, were not disclosed, a spokesperson said.

(Reporting by Eric Onstad; Editing by Jan Harvey)

* Wyloo raises offer to C$1.10 a share, 47% higher than BHP's

* For now, Noront's board recommends BHP's offer

* Wyloo is Noront's largest shareholder with 37.2% stake (Rewrites with Wyloo's improved offer)

Dec 13 (Reuters) – Australian billionaire Andrew Forrest's Wyloo Metals on Monday raised its offer for Canadian nickel producer Noront Resources Ltd shortly after failing to come to an agreement to support a rival bid by BHP Group .

Wyloo, Noront's top shareholder, increased its offer to C$1.10 a share, valuing the Canadian miner at C$616.9 million ($485.25 million), 57% higher than its prior bid and outmatching BHP's C$0.75 per-share offer.

The move by Wyloo is the latest twist in the bidding war between the two miners from Australia for the supply of a key battery metal used in electric vehicles.

With a stake of 37.2% in Noront, Wyloo said it does not intend on supporting any other offer and that "a competing take-over bid will be unlikely to meet any minimum tender condition."

For now, BHP's offer has the support of the Noront board and requires minimum acceptances of 50%, it said.

Following months of competing bids, Wyloo had been discussing about supporting the offer by BHP, the world's largest listed miner.

At the heart of the tussle was Noront's Eagle Nest nickel asset in Canada's so-called Ring of Fire, a high-grade deposit of the metal, as well as copper and palladium.

Noront and BHP did not immediately respond to requests for comment on Wyloo's sweetened offer.

($1 = 1.2713 Canadian dollars) (Reporting by Arundhati Dutta and Nikhil Kurian Nainan in Bengaluru; Editing by Diane Craft and Subhranshu Sahu)

(Bloomberg) — Wyloo Metals Pty Ltd., owned by billionaire mining magnate Andrew Forrest, has boosted its offer to buy out Canadian nickel explorer Noront Resources Ltd., reigniting a battle with rival suitor BHP Group after talks broke down on a compromise deal.

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Wyloo’s proposal at C$1.10 per share trumps BHP’s bid of C$0.75, which currently has the support of the Noront board. Earlier, BHP said it had been unable to win backing from Wyloo — already a major shareholder in the Canadian company — for its offer. Wyloo’s latest offer is nearly 60% above the C$0.70 per share proposal it made back in August.

Mining heavyweights are racing to control more supplies of raw materials that are key to transitioning to low-carbon energy sources, with nickel one of the key metals used in lithium-ion batteries for electric vehicles. BHP and Wyloo have been in a bidding war since August to gain access to Noront’s high-grade Canadian nickel deposits in a largely untapped region of northern Ontario dubbed the Ring of Fire.

The revised offer “continues to provide those shareholders who believe in the long-term potential of Noront with the opportunity to participate in Noront’s continued growth by remaining as shareholders,” Wyloo said in a statement. Forrest’s company, which holds a stake of about 37% in Noront, said it was confident of being able to submit a formal offer given its terms “are clearly financially superior.”

Wyloo said it would not support any alternative offers for Noront and, without its support, “a competing plan of arrangement cannot be successful.” BHP has previously said its offer doesn’t require the support of Wyloo to proceed.

The deal values Noront at C$617 million ($430 million), according to Bloomberg calculations based on shares outstanding. It currently has a market capitalization of about C$409 million.

Noront shares jumped as much as 52% to C$1.11 a share, the highest since November 2010.

Forrest, chairman and founder of iron ore producer Fortescue Metals Group Ltd., plans to lead a new board of directors at Noront if the takeover approach is successful.

Wyloo has engaged Maxit Capital LP as its financial advisor.

(Updates with Noront share price in seventh paragraph.)

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Investment company Penn Series Developed International Index Fund (Current Portfolio) buys Prosus NV, BHP Group, Universal Music Group NV, Sea, CapitaLand Investment, sells CapitaLand, Natixis SA, Berkeley Group Holdings (The) PLC, Bank of East Asia, during the 3-months ended 2021Q3, according to the most recent filings of the investment company, Penn Series Developed International Index Fund. As of 2021Q3, Penn Series Developed International Index Fund owns 849 stocks with a total value of $108 million. These are the details of the buys and sells.

• New Purchases: UMG, 9CI, 01308, EMBRAC B, VTSC,

• Added Positions: PRX, AZN, BHP, SE, 6723, S32, 01113, NWG, ACA, NIBE B, ZAL, PUB, ACS, O39, C38U, AGN, LEG, NN,

• Reduced Positions: NESN, NOVO B, 9984, ROG, MC, NOVN, 7203, ASML, CSL, CBA, NAB, WES, WPL, BARC, BDEV, BT.A, CPG, DGE, GSK, EXPN, HSBA, PRU, RIO, TSCO, WTB, BKG, LLOY, AV., ENEL, STLA, STLA, TRN, ADS, ALV, BAS, DAI, DBK, DB1, DPW, DTE, IFX, LXS, MRK, MUV2, RWE, SAP, SIE, SY1, DWNI, 00001, 00003, AI, CS, BNP, EN, AIR, EL, ENGI, GET, RMS, OR, ORP, RNO, SAN, SU, TEP, DG, RI, AKE, HOLN, SGSN, BARN, SCMN, STMN, ABBN, GEBN, ZURN, LONN, SAN, COLO B, DANSKE, SOF, SOLB, UMI, DSV, BBVA, NTGY, REP, TEF, REE, ENG, FER, KESKOB, ELISA, RDSB, AKZA, INGA, DSM, C6L, HEXA B, ERIC B, SKF B, SAND, VOLV B, ASSA B, SAMPO, F34, 4503, 5108, 7751, 4519, 8309, 7912, 1925, 6902, 4901, 7267, 4452, 2801, 2503, 6326, 8766, 8802, 8306, 8031, 8411, 6701, 9432, 8604, 9007, 1928, 3382, 6758, 4005, 7269, 4502, 4543, 9001, 9531, 9005, HEN3, CABK, VOW3, BVI, RBI, FP, 7974, 6988, 6273, 6981, STM, CFR, EDEN, AMS, 01299, AZJ, GLEN, SREN, DLG, 3283, CCH, KGX, VNA, WLN, 00288, AENA, EVO, CLNX, DHER, ADYEN, REN, KBX, COL, ALC, UNA, UNA, MQG, SSE, NG., NEM, ITX, 4507,

• Sold Out: C31, KN, 00023, ILD,

• Warning! GuruFocus has detected 3 Warning Sign with FHB. Click here to check it out.

• PRX 15-Year Financial Data

• The intrinsic value of PRX

• Peter Lynch Chart of PRX

For the details of Penn Series Developed International Index Fund's stock buys and sells,go to https://www.gurufocus.com/guru/penn+series+developed+international+index+fund/current-portfolio/portfolio

These are the top 5 holdings of Penn Series Developed International Index Fund

Nestle SA (NESN) – 18,503 shares, 2.07% of the total portfolio. Shares reduced by 1.67%

ASML Holding NV (ASML) – 2,705 shares, 1.87% of the total portfolio. Shares reduced by 1.24%

Roche Holding AG (ROG) – 4,510 shares, 1.53% of the total portfolio. Shares reduced by 1.68%

LVMH Moet Hennessy Louis Vuitton SE (MC) – 1,789 shares, 1.19% of the total portfolio. Shares reduced by 1.27%

Toyota Motor Corp (7203) – 68,340 shares, 1.13% of the total portfolio. Shares reduced by 1.44%

New Purchase: Universal Music Group NV (UMG)

Penn Series Developed International Index Fund initiated holding in Universal Music Group NV. The purchase prices were between $23 and $25.1, with an estimated average price of $23.59. The stock is now traded at around $25.125000. The impact to a portfolio due to this purchase was 0.12%. The holding were 4,675 shares as of 2021-09-30.

New Purchase: CapitaLand Investment Ltd (9CI)

Penn Series Developed International Index Fund initiated holding in CapitaLand Investment Ltd. The purchase prices were between $2.95 and $3.53, with an estimated average price of $3.34. The stock is now traded at around $3.470000. The impact to a portfolio due to this purchase was 0.04%. The holding were 16,607 shares as of 2021-09-30.

New Purchase: SITC International Holdings Co Ltd (01308)

Penn Series Developed International Index Fund initiated holding in SITC International Holdings Co Ltd. The purchase prices were between $27.95 and $35.5, with an estimated average price of $32.15. The stock is now traded at around $30.950000. The impact to a portfolio due to this purchase was 0.03%. The holding were 9,000 shares as of 2021-09-30.

New Purchase: Embracer Group AB (EMBRAC B)

Penn Series Developed International Index Fund initiated holding in Embracer Group AB. The purchase prices were between $84.3 and $114.85, with an estimated average price of $101.69. The stock is now traded at around $94.120000. The impact to a portfolio due to this purchase was 0.03%. The holding were 3,546 shares as of 2021-09-30.

New Purchase: Vitesco Technologies Group AG (VTSC)

Penn Series Developed International Index Fund initiated holding in Vitesco Technologies Group AG. The purchase prices were between $51.7 and $64, with an estimated average price of $58.29. The stock is now traded at around $43.950000. The impact to a portfolio due to this purchase was 0.01%. The holding were 146 shares as of 2021-09-30.

Added: Prosus NV (PRX)

Penn Series Developed International Index Fund added to a holding in Prosus NV by 87.31%. The purchase prices were between $67.66 and $82.48, with an estimated average price of $74.45. The stock is now traded at around $72.170000. The impact to a portfolio due to this purchase was 0.21%. The holding were 6,009 shares as of 2021-09-30.

Added: BHP Group Ltd (BHP)

Penn Series Developed International Index Fund added to a holding in BHP Group Ltd by 38.16%. The purchase prices were between $36.39 and $54.06, with an estimated average price of $46.64. The stock is now traded at around $39.960000. The impact to a portfolio due to this purchase was 0.13%. The holding were 18,952 shares as of 2021-09-30.

Added: Sea Ltd (SE)

Penn Series Developed International Index Fund added to a holding in Sea Ltd by 300.00%. The purchase prices were between $267 and $353.36, with an estimated average price of $307.05. The stock is now traded at around $237.940000. The impact to a portfolio due to this purchase was 0.09%. The holding were 400 shares as of 2021-09-30.

Added: South32 Ltd (S32)

Penn Series Developed International Index Fund added to a holding in South32 Ltd by 126.86%. The purchase prices were between $2.78 and $3.53, with an estimated average price of $3.08. The stock is now traded at around $3.820000. The impact to a portfolio due to this purchase was 0.03%. The holding were 21,214 shares as of 2021-09-30.

Added: Renesas Electronics Corp (6723)

Penn Series Developed International Index Fund added to a holding in Renesas Electronics Corp by 50.00%. The purchase prices were between $1083 and $1452, with an estimated average price of $1232.4. The stock is now traded at around $1456.000000. The impact to a portfolio due to this purchase was 0.03%. The holding were 8,100 shares as of 2021-09-30.

Added: CK Asset Holdings Ltd (01113)

Penn Series Developed International Index Fund added to a holding in CK Asset Holdings Ltd by 73.00%. The purchase prices were between $41.85 and $55.1, with an estimated average price of $50.71. The stock is now traded at around $46.750000. The impact to a portfolio due to this purchase was 0.03%. The holding were 13,034 shares as of 2021-09-30.

Sold Out: CapitaLand Ltd (C31)

Penn Series Developed International Index Fund sold out a holding in CapitaLand Ltd. The sale prices were between $3.68 and $4.11, with an estimated average price of $3.98.

Sold Out: Natixis SA (KN)

Penn Series Developed International Index Fund sold out a holding in Natixis SA. The sale prices were between $4 and $4.01, with an estimated average price of $4.

Sold Out: (ILD)

Penn Series Developed International Index Fund sold out a holding in . The sale prices were between $113.05 and $182.5, with an estimated average price of $161.96.

Sold Out: Bank of East Asia Ltd (00023)

Penn Series Developed International Index Fund sold out a holding in Bank of East Asia Ltd. The sale prices were between $12.12 and $14.22, with an estimated average price of $13.

Here is the complete portfolio of Penn Series Developed International Index Fund. Also check out:1. Penn Series Developed International Index Fund's Undervalued Stocks2. Penn Series Developed International Index Fund's Top Growth Companies, and3. Penn Series Developed International Index Fund's High Yield stocks4. Stocks that Penn Series Developed International Index Fund keeps buyingThis article first appeared on GuruFocus.

A number of companies have recently opted to scrap their dual listing structures in a bid to simplify and streamline their business.

Royal Dutch Shell (RDSA.L) (RDSB.L) was the latest firm to announce an overhaul of its operations, revealing earlier this month that it will move its headquarters from the Netherlands to the UK.

The oil giant has been registered in the Netherlands for tax purposes since 2005, but its origins as a dual company dates back to 1907 when Koninklijke Olie merged with Shell Transport and Trading.

However, the company said that at the time it was not envisaged that the share structure would be permanent.

In August, BHP Group (BHP.L) (BHP.AX), the world’s largest miner, also decided to ditch its 20-year old structure, uprooting its base in London for a full move to Sydney.

The move meant an automatic trigger of BHP’s removal from the FTSE 100 (^FTSE) under UK stock market rules, although it will continue to have a standard listing on the London Stock Exchange.

Read more: Travel and oil stocks hit as new Covid variant spooks markets

In contrast, mining company Rio Tinto (RIO.L) said last week it had no plans to follow in the footsteps of its peers, calling the move a needless expense that would eradicate advantages for its shareholders. 

It currently operates under a one-management, one-board structure.

What is a dual-listed company?

Many publicly-traded firms are listed on more than one stock exchange, however, dual-listed companies have two primary listings with two separate legal identities that function as one economic entity.

Most take on a dual-listed structure to gain access to more capital and liquidity as it features in two or more stock markets.

“Dual listings effectively require everything to be done twice and the bill has to be paid in both time and money,” Danni Hewson, financial analyst at AJ Bell, said. “A single listing is cleaner and leaner.”

Story continues

While there are pros and cons of dual listings, with the main criticism being complexity and cost, here are a few reasons why companies are getting rid of them:

Improved performance

One of the key things Shell highlighted in its announcement this month was that it aims to “strengthen its competitiveness” and “increase the speed and flexibility of capital and portfolio actions".

The simplified structure to a single class of shares allows a company to boost shareholder payouts, creating a larger single pool of ordinary shares that can be bought back by the company.

“The change to the share classes removes a disadvantage Shell had versus its peers,” Oswald Clint, analyst at brokerage firm Sanford C Bernstein, said.

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“It will end the misalignment of two different tax and revenue authorities, removing friction and withholding tax issues around buybacks, while allowing them to increase materially.”

Last year consumer goods giant Unilever (ULVR.L) said it too was getting rid of its Anglo-Dutch structure, which has been in place since 1930, in favour of a London base to provide “greater strategic flexibility”.

It now has its primary stock market listing in London, with a secondary listing in the Netherlands and the US.

Mergers and acquisitions

Another benefit of having a single legal structure is allowing the firm to be more readily available for takeovers, mergers and demergers.

According to analysts, dual structures can make stock-based acquisitions and corporate restructurings more difficult.

A month ago, Wall Street activist Third Point revealed a $750m (£558m) stake in Shell. The investor, run by billionaire Dan Loeb, had previously called for the oil giant to split into multiple businesses to increase its value.

Third Point accused Shell of having “an incoherent, conflicting set of strategies attempting to appease multiple interests but satisfying none”.

Watch: Third point buys stake in Shell

More and more big businesses are facing similar pressures to be simpler, to allow them to innovate and integrate.

Peter O'Connor, of Shaw and Partners in Sydney, said: "The probability of Rio collapsing its dual share structure and moving it to a London listing is moving towards 100, having been at around 50 on the scale of probability for years."

Ken MacKenzie, chairman of BHP, said the company would be simpler and more efficient, with greater flexibility to shape our portfolio for the future. 

“Our plans will better enable BHP to pursue opportunities in new and existing markets and create value and returns over generations.”

Read more: Unilever to ditch dual structure for single HQ in London

Post-Brexit Britain

A dual structure can bring some tax advantages, however, in Shell’s case while the Netherlands withholds a 15% tax on dividends for Dutch-domiciled companies, the UK does not.

Under Shell’s dual class share system, holders of the “A” shares receive normal dividends and are subject to the tax.

However payments for “B” shares are distributed through a “dividend access mechanism” that essentially sees them streamed through a trust registered on the Channel Island of Jersey, avoiding the Dutch withholding tax.

The arrangement was approved by Dutch tax authorities in a confidential deal, although its legality under European Union law was doubted by some tax experts.

Shell and Unilever had both previously lobbied for the Dutch to get rid of their dividend withholding tax. It was later revealed to be a "decisive" factor for Unilever when it decided to relocate to London.

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VANCOUVER, British Columbia, Nov. 25, 2021 (GLOBE NEWSWIRE) — Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) President and Chief Executive Officer Don Lindsay will be presenting at the Scotiabank Mining conference on Tuesday, November 30, 2021 at 10:30 a.m. Eastern/7:30 a.m. Pacific time. The investor presentation will include information on company strategy, financial performance, and outlook for the company’s business units.

The fireside chat presentation will be webcast through the following link at:https://wsw.com/webcast/bns20/teck/1653795.

Alternatively, the webcast with supporting slides will be available on Teck’s website at: www.teck.com.

About TeckAs one of Canada’s leading mining companies, Teck is committed to responsible mining and mineral development with major business units focused on copper, zinc, and steelmaking coal, as well as investments in energy assets. Copper, zinc and high-quality steelmaking coal are required for the transition to a low-carbon world. Headquartered in Vancouver, Canada, Teck’s shares are listed on the Toronto Stock Exchange under the symbols TECK.A and TECK.B and the New York Stock Exchange under the symbol TECK. Learn more about Teck at www.teck.com or follow @TeckResources.

Investor Contact:Ellen LaiCoordinator, Investor Relations604.699.4257ellen.lai@teck.com

Media Contact:Chris Stannell Public Relations Manager604.699.4368chris.stannell@teck.com

By Clyde Russell

LAUNCESTON, Australia (Reuters) -For the first time in a decade a massive new liquefied natural gas (LNG) project has been approved for construction in Australia, but the Scarborough venture's structure and market realities indicate it may well be the last of its kind.

Woodside Petroleum and BHP Group gave final backing on Monday to the $12 billion plan to develop the Scarborough natural gas field off Western Australia and expand the onshore Pluto LNG plant to process the fuel.

The deal also sees Woodside merge with BHP's petroleum arm, with BHP shareholders to be issued new Woodside shares and ending up with about 48% of the expanded share capital.

Scarborough field lies about 375 kilometres (233 miles) off the coast of Western Australia state and holds about 11.1 trillion cubic feet of dry gas.

Woodside expects to produce about 8 million tonnes of LNG per annum at the to-be-built second train at its Pluto liquefaction plant, and is targeting first cargo in 2026.

The company also said that the all-in cost of the LNG to be produced is around $5.80 per million British thermal units (mmBtu), which is well below the current spot price of $36.70, but also considerably higher than the $1.85 the super-chilled fuel sank to in May last year during the height of the coronavirus pandemic.

The Scarborough and Pluto second train developments are also the first major LNG project to reach a final investment decision in Australia in about a decade, and comes after the industry spent around $200 billion to expand capacity to around 80 million tonnes, making the country the world's biggest LNG exporter.

At first glance the deal seems positive for both Woodside and BHP.

It transforms Woodside into a top-10 global independent oil and gas company and allows BHP, the world's biggest listed miner, an opportunity to profitably exit an area of business no longer viewed as core and frees it to concentrate on producing metals viewed as essential to the energy transition.

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However, it also means that Woodside will face increasing environmental opposition to its business, especially in the wake of the COP26 climate summit and mounting calls for an end to new oil, gas and coal projects.

Woodside argues that Scarborough contains "only around 0.1% carbon dioxide, and Scarborough gas processed through the efficient and expanded Pluto LNG facility supports the decarbonisation goals of our customers in Asia."

It's highly unlikely that environmental and climate groups will share this view, and already they are lining up to fight against the new development.

The Conservation Council of Western Australia is bringing a case challenging the state's approval, without a full environmental review, to allow Woodside to process gas at the Pluto LNG plant from an expanded number of fields.

FINANCING

While there is likely to be ongoing and highly visible opposition to Scarborough, there are also other concerns more behind the scenes.

As part of the deal, Woodside entered into an agreement to sell 49% of the planned second LNG train at the Pluto processing plant to private equity group Global Infrastructure Partners (GIP).

The terms of deal effectively commit GIP to providing financing, but virtually all of the risk lies with Woodside with regards to potential cost overruns, regulatory hurdles and changes to emissions liabilities.

While GIP has a solid track record of investment in major projects around the globe, the involvement of private equity in a major LNG project in Australia breaks the usual pattern of partnering with global oil companies, major trading houses or utility customers in Asia.

The deal with GIP doesn't look advantageous to Woodside, implying that it was unable to find any takers among more traditional partners.

This could be a sign that LNG projects are getting harder to finance and that already the major buyers in Japan and South Korea are thinking of ways to meet their net-zero emissions targets by transitioning away from LNG.

The Scarborough LNG will also be hitting the market just around the same time as major expansions from Qatar and Russia also come to market, potentially creating an overhang of LNG at a time when major buyers are likely to be increasingly transitioning to renewable alternatives.

Effectively, Woodside is taking a bet that LNG will last in Asia's energy mix for far longer than it should if net-zero emissions goals are to be achieved.

(Editing by Muralikumar Anantharaman)

(Bloomberg) — BHP Group and Woodside Petroleum Ltd. approved investment in a $12 billion Australian gas project as the companies also confirmed details of a merger to combine their energy assets.

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BHP agreed in August to merge its oil and gas business with Woodside to create a top 10 global energy producer. The deal, which is expected create synergies of over $400 million, is slated to be completed in the second quarter of 2022, pending shareholder approval, the Melbourne-based company said in a statement Monday.

Woodside, Australia’s biggest natural gas exporter, said in a separate statement that final investment decisions had been made to approve the development of the Scarborough gas field offshore Western Australia and an expansion of the onshore Pluto processing facility. The company last week agreed to sell a stake in the Pluto project to a U.S. private equity fund, clearing one of the last obstacles to an investment decision on Scarborough.

“Woodside’s five-year saga to sanction Scarborough has finally come to fruition,” said Credit Suisse energy analyst Saul Kavonic. He said the newly merged company will benefit from “reinvigorated” LNG resources and growth prospects from BHP Petroleum’s global footprint.

Scarborough is one of just a handful of natural gas export projects to win approval in the last few years amid mounting pressure on the industry to lower emissions and as consumers set ambitious green goals. With the energy transition accelerating, the outlook for LNG demand beyond 2030 is uncertain, BloombergNEF analysts said in a report in June.

Story continues

LNG Gets a New Major Player With Woodside’s Deal for BHP Assets

Woodside is betting that demand for LNG in Asia will continue to grow as developing nations choose the cleaner-burning fuel over coal. Spot prices for LNG surged to a record high last month as the post-pandemic rebound in demand outpaced supply additions.

The Scarborough project has been targeted by climate advocates, while the government argues the gas will help add billions to the economy. The government of Western Australia welcomed the investment decision, saying the projects will create more than 3,200 jobs in the state.

BHP, which holds a 26.5% stake in Scarborough, sanctioned $1.5 billion in capital spending to meet its commitments under the joint venture. Following the investment decision, BHP has an option to sell its stake in the project to Woodside if the proposed merger does not proceed.

In the merger agreement, Woodside will issue new shares that are expected to comprise 48% of its total share capital, to be distributed to BHP holders.

“Merging our petroleum business with Woodside creates a large, more resilient company, better able to navigate the energy transition and grow value while doing so,” Mike Henry, BHP’s chief executive officer, said in the statement.

(adds analyst quote in fourth paragraph, government statement in seventh paragraph)

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By Clara Denina and Melanie Burton

(Reuters) – Global miner Rio Tinto Ltd has no plans to follow in the footsteps of peers BHP and Shell to collapse its dual listing, people familiar with its thinking say, seeing it as a needless expense that would erode advantages for shareholders in London and Sydney.

Executives at Rio routinely review the dual structure and have for years resisted any change, a direction unlikely to shift under the helm of new chief executive Jakob Stausholm, two sources familiar with the company told Reuters.

Just last month, Stausholm defended the dual listing as an effective one-management, one-board structure set up 26 years ago to satisfy both the UK and Australian governments that he thought management should "honour."

Royal Dutch Shell's decision this week to scrap its dual structure and move its head office to London has renewed focus on dual listings, which are often criticised as both complex and expensive.

It followed a move by the world's biggest miner BHP Group in August to collapse its 20-year-old structure, quitting its London listing in favour of Sydney.

Any similar move by London-headquartered Rio would likely see it shift its primary listing to the UK, where it has most of its shareholders, although the majority of its profits come from Australia.

Although it is not uncommon for companies to quote their shares on multiple exchanges, a dual-listing is incorporated under two different legal regimes operating as a single business on two bourses, often designed to persuade governments to sign off on cross-border mergers.

The structure can bring some tax advantages but means increased costs and can make stock-based acquisitions and corporate restructurings more difficult, say analysts.

Despite pressure on big companies to simplify their structures, Australian investors would likely take a dim view of any move by Rio to unwind the dual listing.

Story continues

"Any move would likely see major pushback from the Australian government and Australian shareholders," said Peter O'Connor of Shaw and Partners in Sydney.

The government would be unhappy that control of raw materials was moving offshore, particularly as the Western Australian iron ore business accounted for more than 80% of Rio's profits over the past two years.

"We are of the view that unless you can make a really strong case for why it needs to be done, it's better left alone," said Brenton Saunders, financial analyst at Pendal Group in Sydney.

Rio would need to demonstrate value to both sets of shareholders to cut the Australian listing, and any jurisdiction disadvantaged would have to be remunerated, he added.

Australian shares tend to trade at a premium to London-listed stock due to tax rebates on dividends, and a collapsed structure would lead to a transfer of value from Australian shareholders to London shareholders, Saunders said.

"That has pretty much happened already for BHP and it will likely happen with Rio if they were to announce a dual-listed company unification," he said.

Still, as corporates come under pressure to be simpler, more integrated and innovative, O'Connor said pressure for a change in structure from investors, especially those in London, is likely to rise.

"The probability of Rio collapsing its dual share structure and moving it to a London listing is moving towards 100, having been at around 50 on the scale of probability for years," he said.

(Reporting by Melanie Burton and Clara Denina; editing by Richard Pullin)

If you're looking for a multi-bagger, there's a few things to keep an eye out for. In a perfect world, we'd like to see a company investing more capital into its business and ideally the returns earned from that capital are also increasing. Put simply, these types of businesses are compounding machines, meaning they are continually reinvesting their earnings at ever-higher rates of return. Speaking of which, we noticed some great changes in Teck Resources' (TSE:TECK.B) returns on capital, so let's have a look.

Return On Capital Employed (ROCE): What is it?

For those who don't know, ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business. To calculate this metric for Teck Resources, this is the formula:

Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets – Current Liabilities)

0.056 = CA$2.3b ÷ (CA$45b – CA$3.4b) (Based on the trailing twelve months to September 2021).

Thus, Teck Resources has an ROCE of 5.6%. On its own that's a low return, but compared to the average of 4.2% generated by the Metals and Mining industry, it's much better.

See our latest analysis for Teck Resources

roce

In the above chart we have measured Teck Resources' prior ROCE against its prior performance, but the future is arguably more important. If you'd like to see what analysts are forecasting going forward, you should check out our free report for Teck Resources.

How Are Returns Trending?

The fact that Teck Resources is now generating some pre-tax profits from its prior investments is very encouraging. The company was generating losses five years ago, but now it's earning 5.6% which is a sight for sore eyes. In addition to that, Teck Resources is employing 27% more capital than previously which is expected of a company that's trying to break into profitability. We like this trend, because it tells us the company has profitable reinvestment opportunities available to it, and if it continues going forward that can lead to a multi-bagger performance.

Story continuesThe Bottom Line

To the delight of most shareholders, Teck Resources has now broken into profitability. Since the stock has only returned 0.1% to shareholders over the last five years, the promising fundamentals may not be recognized yet by investors. So with that in mind, we think the stock deserves further research.

One more thing to note, we've identified 1 warning sign with Teck Resources and understanding it should be part of your investment process.

While Teck Resources may not currently earn the highest returns, we've compiled a list of companies that currently earn more than 25% return on equity. Check out this free list here.

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 (at) simplywallst.com.

In this article, we discuss the 10 best mineral stocks to buy now. If you want to skip our detailed analysis of these stocks, go directly to the 5 Best Mining Stocks To Buy Now.

The mining industry has shown resilience amid the pandemic. As per PwC, the top 40 mining companies in the world had combined revenue of $544.4 billion in 2020, up 4.4% from 2019. Additionally, the mining industry continues to profit from the rebounding economic activities globally. This is due to the increase in demand for commodities. For example, the recent passage of a $1.2 trillion infrastructure bill caused mining stock prices to skyrocket in early November. Among the biggest mining stocks in the market include Freeport-McMoRan Inc. (NYSE:FCX), Cleveland-Cliffs Inc. (NYSE:CLF), and Alcoa Corporation (NYSE:AA).

The outlook for mining commodities has improved since the introduction of the COVID-19 vaccine. One of the raw materials that rallied in the recent months is iron ore. Between April 2020 and May 2021, iron ore prices rose from $80/t to a high of $233/t, according to consultancy firm McGrathNicol. Yet, iron ore prices dropped to as low as $94/t by mid-September as China, the world's largest importer of iron ore, limits its steel production to 2020 levels. Meanwhile, the S&P Global Market Intelligence forecasted an iron ore price of $110/t in Q4 2021 and $115/t in 2022. Analysts estimate that iron ore producers such as BHP Group (NYSE:BHP) and Rio Tinto Group (NYSE:RIO) would not restrict supply as long as profits remain in the $100/t range.

Meanwhile, in early October, other raw materials such as aluminum, copper, and nickel saw year-to-date gains of 47%, 20%, and 8%, respectively, according to Bloomberg Commodity Spot Index. This is due to the increase in demand for metals used in electric vehicle production.

According to a Research and Market report, the global mining industry was valued at $1.6 trillion in 2020. The mining industry is expected to reach $1.8 trillion in 2021 at a CAGR of 12.4%, fueled by mining companies' recovery from restricted operations during the pandemic's peak. The global mining industry is projected to reach $2.4 trillion value by 2025.

Our Methodology

These are the mining stocks with strong mining operations in and outside the US. We included mining stocks that have positive analyst ratings and long-term growth catalysts. We also took into account hedge fund sentiment based on the data of over 873 hedge funds tracked by Insider Monkey.

We ranked the list based on the number of hedge funds having stakes in each firm as of the second quarter.

Why pay attention to hedge fund holdings? Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 86 percentage points since March 2017. Between March 2017 and July 2021, our monthly newsletter’s stock picks returned 186.1%, vs. 100.1% for the SPY. Our stock picks outperformed the market by more than 86 percentage points (see the details here). That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox.

10 Best Mining Stocks To Buy Now

Here is our list of the 10 best mining stocks to buy now.

Best Mining Stocks To Buy Now10. Sibanye Stillwater Limited (NYSE:SBSW)

Number of Hedge Fund Holders: 15

We'll start our list of best mining stocks to buy with Sibanye Stillwater Limited (NYSE:SBSW), a global precious metal mining company based in South Africa. The mining company is a producer of gold and platinum-group metals.

On October 12, Abhi Agarwal of Deutsche Bank initiated a Buy rating on Sibanye Stillwater Limited (NYSE:SBSW) with a price target of $19. Agarwal believes Sibanye's growing mineral portfolio will generate free cash flow in the coming years.

The mining stock jumped 3.5% on October 26 following its acquisition of nickel and copper mines from Appian Capital Advisory. These mines located in Brazil will be purchased by the mining company for $1 billion in cash and a 5% net smelter return royalty.

Of the 873 elite funds tracked by Insider Monkey, 15 were long for Sibanye Stillwater Limited (NYSE:SBSW) at the end of June, compared to 16 in the first quarter of 2021.

Sibanye Stillwater Limited (NYSE:SBSW) is one of the best mining stocks according to market analysts, just like Freeport-McMoRan Inc. (NYSE:FCX), Cleveland-Cliffs Inc. (NYSE:CLF), and Alcoa Corporation (NYSE:AA).

9. BHP Group (NYSE:BHP)

Number of Hedge Fund Holders: 18

BHP Group (NYSE:BHP) is one of the largest mining companies in the world, with established operations in over 90 countries. The Australian mining company produces iron ore, copper, nickel, coal, potash, and petroleum.

BHP Group (NYSE:BHP) was given an Outperform rating by Bernstein and Macquarie alongside price targets of A$45 and A$56, respectively. At the end of the second quarter of 2021, 18 hedge funds in the database of Insider Monkey held stakes worth $753 million in BHP Group (NYSE:BHP).

In its Q1 2021 investor letter, Harding Loevner, an asset management firm, highlighted a few stocks and BHP Group (NYSE:BHP) was one of them. Here is what the fund said:

“Our purchase of Australian mining company BHP is an example of a quality company at a moderate valuation that should deliver attractive long-term returns. We believe the market has undervalued its enduring competitive advantage due to its low-cost iron and copper mining operations which has allowed the company to deliver consistent profits and cash flows across the inevitable ups and downs of the global metals cycle. While the variability of commodity prices prevents BHP from scoring in the top ranks of measured quality, we are willing to bear some of that uncertainty in return for a more attractive valuation given the company’s strong business fundamentals.”

8. MP Materials Corp. (NYSE:MP)

Number of Hedge Fund Holders: 20

MP Materials Corp. (NYSE:MP) is a Nevada-based integrated rare earth mining company. MP Materials Corp. (NYSE:MP) mines lanthanum, neodymium and praseodymium, and SEG+. These elements are used in manufacturing EV batteries, medical devices, and lasers.

Year to date, the mining stock gained 50%. MP Materials Corp.'s (NYSE:MP) revenue in the third quarter jumped 143% year over year to $99.7 million, beating estimates by $22.6 million.

On October 26, JPMorgan analyst Tyler Langton maintained an Overweight rating on MP Materials Corp. (NYSE:MP) with a price target of $45 per share.

At the end of the second quarter of 2021, 20 hedge funds in the database of Insider Monkey held stakes worth $2.57 billion in MP Materials Corp. (NYSE:MP).

7. Rio Tinto Group (NYSE:RIO)

Number of Hedge Fund Holders: 21

Rio Tinto Group (NYSE:RIO) is one of the world's biggest mining companies that is based in London, UK. The company engages in mining raw materials including copper, aluminum, iron ore, lithium, and diamonds. The mining behemoth has operations in over 35 countries.

Even though Rio Tinto Group (NYSE:RIO) saw a decline in the number of hedge funds having stakes in the company in the second quarter, the stock remains the most popular mining stock among institutional investors. At the end of June, 21 funds out of the 873 tracked by Insider Monkey had stakes in the company, compared to 25 in the previous quarter.

On November 3, Alain Gabriel of Morgan Stanley increased his price target for Rio Tinto Group (NYSE:RIO) to 4,880 GPB from GBP 4,750, while maintaining an Equal Weight rating on the shares.

Among the hedge funds being tracked by Insider Monkey, Fisher Asset Management is a leading shareholder in Rio Tinto Group (NYSE:RIO) with 13 million shares worth more than $892 million at the end of the September quarter.

6. Cameco Corporation (NYSE:CCJ)

Number of Hedge Fund Holders: 25

Cameco Corporation (NYSE:CCJ) is the world's largest uranium company. The Canadian mining company is capable of producing more than 53 million pounds of uranium concentrates per year. Additionally, the mining company operates a fuel segment with operations in Asia, Europe, and the Americas.

Shares of Cameco Corporation (NYSE:CCJ) jumped nearly 8% on November 3 after Bank of America analyst Lawson Winder upgraded the mining stock to Buy from Neutral. Winder also raised his price target for the stock to C$40 from C$36.25. The analyst believes that Cameco would benefit from the growing popularity of nuclear energy in global decarbonization.

Of the 873 elite funds tracked by Insider Monkey, 25 were long for Cameco Corporation (NYSE:CCJ) at the end of June, compared to 30 in the first quarter of 2021.

Among the hedge funds being tracked by Insider Monkey, Florida-based investment firm Kopernik Global Investors is a leading shareholder in Cameco Corporation (NYSE:CCJ) with 8.9 million shares worth more than $195 million at the end of September quarter.

In addition to Freeport-McMoRan Inc. (NYSE:FCX), Cleveland-Cliffs Inc. (NYSE:CLF), and Alcoa Corporation (NYSE:AA), Cameco Corporation (NYSE:CCJ) is one of the mining stocks favored by analysts and investors as a long-term investment.

Click to continue reading and see 5 Best Mining Stocks To Buy Now.

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Disclosure. None. 10 Best Mining Stocks To Buy Now is originally published on Insider Monkey.

(Reuters) – The global markets will need four times the nickel and double the copper in the next 30 years to facilitate a decarbonised world, a BHP Group executive said on Wednesday.

"Some of the modelling that we have done showed that in, let's say a decarbonised world … the world will need almost double the copper in the next 30 years than in the past 30," said Vandita Pant, BHP's Chief Commercial Officer, at the FT Commodities Asia Summit.

"And for a commodity like nickel, that quadruples. So four times nickel needed for the next 30 years than the past 30 years and all to be done as sustainably as possible," Pant added.

Both nickel and copper are poised for strong consumption as a result of the transition away from fossil fuels. Nickel is used in electric vehicle (EV) batteries while copper is needed for wiring in the EVs, their charging stations and other renewable energy infrastructure.

On Tuesday, Trafigura's chief executive warned of possible significant deficits for copper, nickel and cobalt as global demand rises.

Traceability and sustainability will be some of the main requirements from clients from now on, BHP's Pant said, adding that the company has done a blockchain traceability programme with Tesla to track carbon emissions of its Western Australian nickel mine asset.

BHP also recently conducted its first carbon-neutral copper cargo, from Chile to the United States, she said, adding that is "the way to go."

(Reporting by Mai Nguyen in Hanoi; Editing by Christian Schmollinger)

Teck Resources Limited TECK recently stated that heavy rainfall, flooding and landslides have temporarily disrupted its logistics chain between west coast terminals and British Columbia (B.C) operations.Heavy downpours and floods in southern B.C have forced to shut down all road and rail lines in Canada’s largest port of Vancouver. Canadian National Railway CNI and Canadian Pacific Railway CP networks has been out of service following floods and mudslides. CNI & CP have started repairing the tracks, but did not provide any estimated dates when their main lines will reopen. Teck Resources rerouted some shipments to Ridley Terminals in Prince Rupert to mitigate the impacts of disruption.CNI and CP help Teck Resources ship steelmaking coal from its four B.C. operations between Kamloops and Neptune Terminals, and other west coast ports. This significantly enhances Teck Resources’ shipment volumes through the expanded Neptune Terminals.The overall impact of rainfall and any possible effect on fourth-quarter 2021 sales performance will depend on the duration of the logistics chain disruption. Management stated that its production has not yet been impacted.

Heavy downpour also impacted Enbridge Inc.‘s ENB operations. The company has shut down one of the two pipelines including its Westcoast natural gas pipeline in B.C.Enbridge’s Westcoast pipeline delivers 1.5 billion to 1.8 billion cubic feet of gas per day to the B.C. lower mainland and the U.S. Pacific Northwest. The company is a leading energy infrastructure company involved in the transportation of energy through the longest and most advanced crude and liquids pipeline system in the world that spreads across 17,127 miles.Teck Resources’ third-quarter 2021 earnings and revenues beat the respective Zacks Consensus Estimates and improved year over year. The company is poised to gain from the Neptune Bulk Terminals facility upgrade project. The project strengthens the performance of the steelmaking coal-supply chain, increases terminal loading capacity and enhances the capability to meet delivery commitments to customers, while lowering overall logistic costs. The company projects fourth-quarter steelmaking coal sales in the band of 6.4-6.8 million tons. The record increase in FOB Australia steelmaking coal prices, CFR China prices and strong demand from steelmakers will support the steelmaking coal segment in the fourth quarter.This July, wildfires in B.C also damaged the rail line near Lytton and disrupted rail services between Teck Resources’ steelmaking coal operations and west coast terminals. As impacts from this incident are not expected to be fully recovered by the end of this year, the company projects steelmaking coal production to be at the lower end of its current-year guidance of 25-26 million tons.Teck Resources currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Price Performance

The company’s shares have soared 81.5% in the past year compared with the industry’s growth of 12.7%.

Zacks Investment Research

Image Source: Zacks Investment Research

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 Canadian National Railway Company (CNI) : Free Stock Analysis Report Enbridge Inc (ENB) : Free Stock Analysis Report Canadian Pacific Railway Limited (CP) : Free Stock Analysis Report Teck Resources Ltd (TECK) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research

VANCOUVER, British Columbia, Nov. 14, 2021 (GLOBE NEWSWIRE) — Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) has been named to the S&P Dow Jones Sustainability World Index (DJSI) for the 12th consecutive year and is ranked #1 in the Metals and Mining industry category on the DJSI for 2021.

“We recognize that sustainability is foundational to our success and being socially and environmentally responsible is core to how we operate as a company,” said Don Lindsay, President and CEO. “This commitment is led by our people, who are dedicated to providing essential resources while caring for communities and the environment.”

The DJSI ranking indicates that Teck’s sustainability practices are in the top 10 percent of the 2,500 largest companies in the S&P Global Broad Market Index (BMI). Teck is a leader in the Metals and Mining industry, based on an in-depth analysis of economic, social and environmental performance. Teck scored the industry best score in the Social category which measures performance in topics related to diversity, health and safety, labour practices, human rights, community impacts and community investment. Click here for more information on the DJSI.

Teck was also named one of the Global 100 Most Sustainable Corporations and one of the Best 50 Corporate Citizens in Canada by Corporate Knights in 2021. Teck is ranked first in the Diversified Metals and Mining category by Sustainalytics and is also currently listed on the MSCI World ESG Leaders, FTSE4Good Index, Bloomberg Gender Equality Index and Jantzi Social Index.

Go to www.teck.com/responsibility to learn more about Teck’s commitment to responsible resource development.

About Teck

As one of Canada’s leading mining companies, Teck is committed to responsible mining and mineral development with major business units focused on copper, zinc, and steelmaking coal, as well as investments in energy assets. Copper, zinc and high-quality steelmaking coal are required for the transition to a low-carbon world. Headquartered in Vancouver, Canada, Teck’s shares are listed on the Toronto Stock Exchange under the symbols TECK.A and TECK.B and the New York Stock Exchange under the symbol TECK. Learn more about Teck at www.teck.com or follow @TeckResources.

Investor Contact:Fraser PhillipsSenior Vice President, Investor Relations and Strategic Analysis 604.699.4621fraser.phillips@teck.com

Media Contact:Chris StannellPublic Relations Manager604.699.4368chris.stannell@teck.com

VANCOUVER, British Columbia, Nov. 12, 2021 (GLOBE NEWSWIRE) — Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) ("Teck”) has been named one of Canada’s Top 100 Employers for the fifth consecutive year by Mediacorp Canada’s Top Employers program, which recognizes companies for exceptional human resources programs and forward-thinking workplace policies.

“Our employees are committed to supporting the communities where we operate and responsibly providing the essential resources needed to make life better for people around the world,” said Don Lindsay, President and CEO. “Teck is focused on supporting the growth and development of our teams and fostering a workplace where everyone is included and valued.”

Editors at Mediacorp, Canada’s largest publisher of employment periodicals, grade employers on eight criteria, including health, financial & family benefits, community involvement, employee communications, and training and skills development.

More information on the Canada’s Top 100 Employers program can be found here: https://www.canadastop100.com/national/

Teck has also been named to the Forbes list of the World’s Best Employers for the past two years and is one of Canada's Top Employers for Young People 2021.

Learn more about careers at Teck at www.teck.com/careers.

About TeckAs one of Canada’s leading mining companies, Teck is committed to responsible mining and mineral development with major business units focused on copper, zinc, and steelmaking coal, as well as investments in energy assets. Copper, zinc and high-quality steelmaking coal are required for the transition to a low-carbon world. Headquartered in Vancouver, Canada, Teck’s shares are listed on the Toronto Stock Exchange under the symbols TECK.A and TECK.B and the New York Stock Exchange under the symbol TECK. Learn more about Teck at www.teck.com or follow @TeckResources.

Investor Relations Contact:Fraser PhillipsSenior Vice President, Investor Relations and Strategic Analysis604.699.4621fraser.phillips@teck.com

Media Contact:Chris Stannell Public Relations Manager 604.699.4368chris.stannell@teck.com

These are the top dividend stocks in the Russell 1000 with the highest forward dividend yield for November.

TECK earnings call for the period ending September 30, 2021.

As we begin, please note that the information provided during this call will contain forward-looking statements. Relevant factors that could cause actual results to differ materially from any forward-looking statements are included in the earnings release and in our SEC filings. The company does not undertake to update any of the forward-looking statements made today.

A look at the shareholders of EMX Royalty Corporation (CVE:EMX) can tell us which group is most powerful. Institutions will often hold stock in bigger companies, and we expect to see insiders owning a noticeable percentage of the smaller ones. I generally like to see some degree of insider ownership, even if only a little. As Nassim Nicholas Taleb said, 'Don’t tell me what you think, tell me what you have in your portfolio.

EMX Royalty is not a large company by global standards. It has a market capitalization of CA$340m, which means it wouldn't have the attention of many institutional investors. Our analysis of the ownership of the company, below, shows that institutional investors have bought into the company. Let's take a closer look to see what the different types of shareholders can tell us about EMX Royalty.

View our latest analysis for EMX Royalty

What Does The Institutional Ownership Tell Us About EMX Royalty?

Institutional investors commonly compare their own returns to the returns of a commonly followed index. So they generally do consider buying larger companies that are included in the relevant benchmark index.

We can see that EMX Royalty does have institutional investors; and they hold a good portion of the company's stock. This implies the analysts working for those institutions have looked at the stock and they like it. But just like anyone else, they could be wrong. If multiple institutions change their view on a stock at the same time, you could see the share price drop fast. It's therefore worth looking at EMX Royalty's earnings history below. Of course, the future is what really matters.

We note that hedge funds don't have a meaningful investment in EMX Royalty. SSR Mining Inc. is currently the company's largest shareholder with 14% of shares outstanding. With 9.2% and 4.0% of the shares outstanding respectively, Paul Stephens and Stephens Investment Management, LLC are the second and third largest shareholders. Furthermore, CEO David Cole is the owner of 2.7% of the company's shares.

A deeper look at our ownership data shows that the top 25 shareholders collectively hold less than half of the register, suggesting a large group of small holders where no single shareholder has a majority.

Researching institutional ownership is a good way to gauge and filter a stock's expected performance. The same can be achieved by studying analyst sentiments. There is some analyst coverage of the stock, but it could still become more well known, with time.

Insider Ownership Of EMX Royalty

While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. Management ultimately answers to the board. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO.

I generally consider insider ownership to be a good thing. However, on some occasions it makes it more difficult for other shareholders to hold the board accountable for decisions.

It seems insiders own a significant proportion of EMX Royalty Corporation. Insiders own CA$44m worth of shares in the CA$340m company. It is great to see insiders so invested in the business. It might be worth checking if those insiders have been buying recently.

General Public Ownership

The general public, with a 49% stake in the company, will not easily be ignored. This size of ownership, while considerable, may not be enough to change company policy if the decision is not in sync with other large shareholders.

Public Company Ownership

We can see that public companies hold 12% of the EMX Royalty shares on issue. We can't be certain but it is quite possible this is a strategic stake. The businesses may be similar, or work together.

Next Steps:

It's always worth thinking about the different groups who own shares in a company. But to understand EMX Royalty better, we need to consider many other factors. Take risks for example – EMX Royalty has 1 warning sign we think you should be aware of.

Ultimately the future is most important. You can access this free report on analyst forecasts for the company.

NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.

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 (at) simplywallst.com.