Vancouver, British Columbia–(Newsfile Corp. – July 22, 2021) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the "Company" or "EMX") is pleased to announce the the execution of an agreement for the sale of its Svärdsjö polymetallic project (the "Project") in Sweden to District Metals Corp. (TSXV: DMX) ("District"). The agreement provides the Company with additional share equity in DMX that brings EMX's ownership of District to 9.9%, annual advance royalty payments, a 2.5% Net Smelter Returns ("NSR") royalty interest in the Project, and other consideration.

The Svärdsjö Project is located in the prolific Bergslagen mining region of southern Sweden, nearby District's Tomtebo and Trollberget polymetallic VMS projects, which are also EMX royalty properties (see Figure 1). The Svärdsjö Project hosts multiple zones of polymetallic (copper-zinc-lead-silver-gold) volcanogenic massive sulfide ("VMS") and carbonate replacement ("CRD") style mineralization and is located in the vicinity of the historic Falun VMS mine and Boliden AB's active Garpenberg mine, one of the largest and most efficient underground polymetallic mines in the world.

Svärdsjö has been the site of historical mining activity for over 500 years, with production continuing through to 1989. Most recently, Boliden AB explored and drilled extensively in the area from 2009 until 2019. Historical production records indicate that much of the production came prior to 1972 and focussed on silver rich copper-zinc-lead mineralization developed as zones of replacement in carbonate host rocks. These styles of mineralization are similar to that seen in the nearby Garpenberg mine. See www.EMXroyalty.com for further information on the Project.

The agreement with District represents another example of EMX's execution of the royalty generation aspect of its business model. Although not available when first recognized during regional assessments, Svärdsjö remained on an EMX "watch list" for several years until coming available in 2020, when EMX quickly moved to secure the opportunity. EMX looks forward to working closely with District to further advance the Project.

Commercial Terms Overview. In accordance with the agreement, District will acquire a 100% interest in the Project subject to the following terms (all dollar amounts in CAD):

• Upon closing, EMX will transfer the Svärdsjö exploration license to District.

• Upon closing, EMX will receive $35,000 in cash and 1,400,000 common shares of DMX that increases EMX's equity ownership in DMX to 9.9% (on a non-diluted basis).

• EMX will receive a 2.5% NSR royalty interest in the Project. On or before the sixth anniversary after closing, DMX has the option to purchase 0.5% of the NSR on the Project by paying EMX $2,000,000.

• EMX will receive annual advance royalty ("AAR") payments of $25,000 for the Project commencing on the third anniversary of the closing, with the AAR payment increasing by $10,000 per year until reaching $75,000.

• Payments of $275,000, payable in cash or shares of DMX, will be made to EMX upon the achievement of certain milestones, and District will be responsible for fulfilling work commitments on the Project.

• To maintain its interest in the Project, within five years of the closing of the transaction, DMX will also: (i) spend a minimum of $1,000,000 on Project work expenditures with a minimum of $150,000 spent each year, and (ii) complete a minimum of 3,500 m of drilling.

• Closing is subject to approval by the TSX Venture Exchange.

Overview of the Svärdsjö Project. The Project comprises 1,037 hectares within the prolific Bergslagen mining region in southern Sweden. In the Project area, copper-zinc-lead-silver-gold VMS and carbonate replacement style mineralization are associated with mid-Proterozoic age volcanic belts (refer to Figure 1). The Project is situated within a three-hour drive of Stockholm-Arlanda airport and has excellent year-round access, as well as nearby rail and power lines.

Mineralization at Svärdsjö is primarily developed as polymetallic sulfide replacements in dolomitic carbonate units accompanied by skarn minerals. Bodies of mineralization are enveloped within broader alteration zones typical of VMS systems, which in the case of Svärdsjö, provide well documented vectors that can be used to guide further exploration.

Historical production primarily came from three mining areas, which includes Kompanimalmen ("Company Ore"), Mellangruvan ("Middle Mine"), and Norramalmen ("Northern Ore"), with several of the historical zones remaining open and poorly explored at depth. Most recently, exploration between 2009-2019 delineated new lenses of mineralization to the west and southwest of the historical mining areas¹. These, and other underexplored areas of the project will be targets for further exploration.

In addition, several additional exploration targets exist on the project, either defined by untested geophysical anomalies, or based upon trends of historical prospects and occurrences.

Notes on nearby mines and deposits. The nearby mines and deposits discussed in this news release provide context for EMX's Project, which occurs in a similar geologic setting, but this is not necessarily indicative that the Project hosts similar mineralization.

Dr. Eric P. Jensen, CPG, a Qualified Person as defined by National Instrument 43-101 and employee of the Company, has reviewed, verified and approved the disclosure of the technical information contained in this news release.

About EMX. EMX is a precious, base and battery metals royalty company. EMX's investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company's common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol EMX. Please see www.EMXroyalty.com for more information.

For further information contact:

David M. Cole
President and Chief Executive Officer
Phone: (303) 979-6666
Dave@EMXroyalty.com

Scott Close
Director of Investor Relations
Phone: (303) 973-8585
SClose@EMXroyalty.com

Isabel Belger
Investor Relations (Europe)
Phone: +49 178 4909039
IBelger@EMXroyalty.com

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

Forward-Looking Statements

This news release may contain "forward-looking statements" that reflect the Company's current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merit of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as "estimate," "intend," "expect," "anticipate," "will", "believe", "potential", "upside" and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company's future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company's actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to: unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company's MD&A for the year ended March 31, 2021 (the "MD&A"), and the most recently filed Annual Information Form (the "AIF") for the year ended December 31, 2020, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC's EDGAR website at www.sec.gov.

Figure 1. Location map, major geologic features and mineral occurrences in the Svärdsjö area.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/1508/90901_9ff7bd9a64f65b9b_002full.jpg

____________________

¹ A. Fahlvik, 2018: Hydrothermal alteration and lithogeochemical marker units at the Svärdsjö Zn-Pb-Cu deposit, Bergslagen, Sweden, and their implication for exploration.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/90901

Vancouver, British Columbia–(Newsfile Corp. – July 22, 2021) – District Metals Corp. (TSXV: DMX) (FSE: DFPP); ("District" or the "Company") is pleased to announce the Company has executed a definitive purchase agreement dated July 20, 2021 (the "Purchase Agreement") with a wholly-owned subsidiary of EMX Royalty Corp. (TSXV: EMX) ("EMX") to acquire 100% ownership of the Svärdsjö Property (Figures 1 and 2) in the prolific Bergslagen District of Sweden, which hosts Boliden's Garpenberg Mine and Lundin Mining's Zinkgruvan Mine. Upon closing the acquisition of the Svärdsjö Property the Company's primary focus will remain on aggressively advancing the highly prospective Tomtebo Property.

Garrett Ainsworth, CEO of District, commented: "Since acquiring our flagship Tomtebo Property in June 2020 our belief in the potential to discover a significant high grade polymetallic deposit in the Bergslagen District has only increased. Over the past year we have been reviewing numerous properties to complement the Tomtebo Property as part of our corporate objective to become a dominant exploration and development company in the Bergslagen District. The addition of the Svärdsjö Property is highly accretive to our property portfolio as it is an advanced stage exploration property with several historic mines and occurrences that show high grade polymetallic targets similar to our Tomtebo Property. It is a pleasure to enter into our second property acquisition in the Bergslagen District with our partner EMX."

Svärdsjö Property Highlights

• Svärdsjö is an advanced stage exploration property that covers an area of 1,037 ha and is located approximately 200 km northwest from the capital city of Stockholm in Sweden.

• Boliden's Garpenberg Mine is located 45 km to the southeast, and the historic Falun Mine is located 15 km to the southwest. Lundin's Zinkgruvan Mine is located 200 km to the southwest.

• Svärdsjö is located 25 km to the north of the Tomtebo Property, and contains similar host rocks, structure, alteration, and mineralization styles as the Garpenberg Mine, Historic Falun Mine, and the Tomtebo Property.

• Several historic mines, numerous mineralized prospects and multiple untested targets are situated on the Svärdsjö Property.

• Mining activities date back to the 14^th century, and records show that the historic Svärdsjö Mine (1887-1989) produced 1.03 Mt at 112 g/t Ag, 6.0% Zn, 2.7% Pb, 0.6% Cu and 0.4 g/t Au¹.

• Mining at the historical Svärdsjö Mine reached a depth of 390 m where mineralization appears open at depth and along strike. Operations at Boliden's Garpenberg Mine and Lundin Mining's Zinkgruvan Mine are currently at depths of 1400 m and 1300 m, respectively.

• Boliden conducted extensive exploration work on the Svärdsjö Property from 2009 until 2019. Boliden was not granted an extension to their exploration permit, and EMX claimed the Svärdsjö license area.

The Purchase Agreement

Pursuant to the Purchase Agreement, District will acquire a 100% interest in the Svärdsjö Property upon the following principal terms:

• At closing of the proposed transaction District will: (i) make a cash payment of $35,000 to EMX; and (ii) issue EMX 1,659,084 common shares of District, representing EMX's increase of equity ownership from 8.0% to 9.9% in District (on a non-diluted basis).

• To retain the Property, District must: (i) incur $1,000,000 of eligible expenditures on the Svärdsjö Property within five years of the closing of the proposed transaction including at least $150,000 in expenditures per year; and (ii) complete a minimum of 3,500 m of drilling within five years of the closing of the proposed transaction.

• Upon announcement of each of a mineral resource estimate and preliminary economic assessment, District will pay to EMX a fee of $275,000 and, in the absence of either or both a mineral resource estimate and/or preliminary economic assessment, an aggregate of $550,000 upon a development decision, in each case, in either cash or common shares of District (based on the 20 day volume weighted average trading price of District's common shares on the TSX Venture Exchange).

• District will reimburse EMX for the mineral license fee for years 2 and 3 that were pre-paid by EMX, which equals approximately $2,500.

• District will grant EMX a 2.5% net smelter returns royalty on the Svärdsjö Property subject to an option to repurchase up to 0.5% of the royalty for $2,000,000 at any time within six years of the closing of the proposed transaction and in respect of which District will make annual advance royalty payments of $25,000 commencing on the third anniversary of the closing of the proposed transaction, with each payment increasing by $10,000 per year subject to maximum of $75,000 per year.

Figure 1: District Metals Mineral Licenses in the Bergslagen Mining District

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/7971/90896_13ff27f4a46918c0_002full.jpg.

Note: The nearby mines provide geologic context for District's Properties, but this is not necessarily indicative that the properties host similar tonnages or grades of mineralization.

Figure 2: Location Map of Svärdsjö Property

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/7971/90896_13ff27f4a46918c0_003full.jpg.

Note: The nearby mines provide geologic context for District's Properties, but this is not necessarily indicative that the properties host similar tonnages or grades of mineralization.

References

¹ Sveriges Geologiska Undersökning (SGU) Map Viewer: https://apps.sgu.se/kartvisare/kartvisare-malm-mineral.html

² Allen, R.L., Lundström, I., Ripa, M., and Christofferson, H., 1996, Facies analysis of a 1.9 Ga, continental margin, back-arc, felsic caldera province with diverse Zn-Pb-Ag-(Cu-Au) sulfide and Fe oxide deposits, Bergslagen region, Sweden: Economic Geology, v. 91, p. 979-1008.

³ Ed. Eilu, Pasi, 2012, Geological Survey of Finland, Special Paper 53, Metallogenic areas in Sweden.

⁴ Geological Survey of Sweden report grb_097, 1997.

⁵ https://www.boliden.com/globalassets/operations/exploration/mineral-resources-and-mineral-reserves-pdf/2020/resources-and-reserves-garpenberg-2020-12-31.pdf

Technical Information

All scientific and technical information in this news release has been prepared by, or approved by Garrett Ainsworth, PGeo, President and CEO of the Company. Mr. Ainsworth is a qualified person for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

Mr. Ainsworth has not verified any of the information regarding any of the properties or projects referred to herein other than the Svärdsjö and Tomtebo Properties. Mineralization on any other properties referred to herein is not necessarily indicative of mineralization on the Svärdsjö or Tomtebo Properties.

About District Metals Corp.

District Metals Corp. is led by industry professionals with a track record of success in the mining industry. The Company's mandate is to seek out, explore, and develop prospective mineral properties through a disciplined science-based approach to create shareholder value and benefit other stakeholders.

The advanced exploration stage Tomtebo Property is located in the Bergslagen Mining District of south-central Sweden is the Company's main focus. Tomtebo comprises 5,144 ha, and is situated between the historic Falun Mine and Boliden's Garpenberg Mine that are located 25 km to the northwest and southeast, respectively. Two historic polymetallic mines and numerous polymetallic showings are located on the Tomtebo Property along an approximate 17 km trend that exhibits similar geology, structure, alteration and VMS/SedEx style mineralization as other significant mines within the district. Mineralization that is open at depth and along strike at the historic mines on the Tomtebo Property has not been followed up on, and modern systematic exploration has never been conducted on the Property.

For further information on the Tomtebo Property, please see the technical report entitled "NI 43-101 Update Technical Report on the Tomtebo Project, Bergslagen Region of Sweden" dated effective October 15, 2020 and amended and restated on February 26, 2021, which is available on SEDAR at www.sedar.com.

On Behalf of the Board of Directors

"Garrett Ainsworth"
President and Chief Executive Officer

(604) 288-4430

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

Cautionary Statement Regarding "Forward-Looking" Information.

This news release contains certain statements that may be considered "forward-looking information" with respect to the Company within the meaning of applicable securities laws. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "targets", "expects" or "does not expect", "is expected", "an opportunity exists", "is positioned", "estimates", "intends", "assumes", "anticipates" or "does not anticipate" or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur" or "be achieved" and any similar expressions. In addition, any statements that refer to expectations, predictions, indications, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management's expectations, estimates and projections regarding future events. Forward-looking statements in this news release relating to the Company include, among other things, statements relating to the Company's intention that, upon closing the acquisition of the Svärdsjö Property, its primary focus will remain on advancing its material property, the highly prospective Tomtebo Property; the Company's belief in the potential to discover a significant high grade polymetallic deposit in the Bergslagen District; the Company's objective to become a dominant exploration and development company in the Bergslagen District; the Company's belief that it has identified high grade polymetallic targets on the Svärdsjö Property which are similar the Tomtebo Property.

These statements and other forward-looking information are based on opinions, assumptions and estimates made by the Company in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that the Company believes are appropriate and reasonable in the circumstances, as of the date of this news release, including, without limitation, assumptions about the reliability of historical data and the accuracy of publicly reported information regarding past and historic mines in the Bergslagen district; the Company's ability to raise sufficient capital to fund planned exploration activities, maintain corporate capacity and satisfy the exploration expenditure requirements required by the definitive purchase agreement between the Company and the vendor of the Tomtebo Property (the "Tomtebo Purchase Agreement") by the times specified therein; and stability in financial and capital markets.

Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date such statements are made, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to risks associated with the following: the reliability of historic data regarding the Company's properties; the Company's ability to raise sufficient capital to finance planned exploration (including incurring prescribed exploration expenditures required by the Tomtebo Purchase Agreement, failing which the Tomtebo Property will be forfeited without any repayment of the purchase price); the Company's limited operating history; the Company's negative operating cash flow and dependence on third-party financing; the uncertainty of additional funding; the uncertainties associated with early stage exploration activities including general economic, market and business conditions, the regulatory process, failure to obtain necessary permits and approvals, technical issues, potential delays, unexpected events and management's capacity to execute and implement its future plans; the Company's ability to identify any mineral resources and mineral reserves; the substantial expenditures required to establish mineral reserves through drilling and the estimation of mineral reserves or mineral resources; the Company's dependence on one material project, the Tomtebo Property; the uncertainty of estimates used to calculated mineralization figures; changes in governmental regulations; compliance with applicable laws and regulations; competition for future resource acquisitions and skilled industry personnel; reliance on key personnel; title matters; conflicts of interest; environmental laws and regulations and associated risks, including climate change legislation; land reclamation requirements; changes in government policies; volatility of the Company's share price; the unlikelihood that shareholders will receive dividends from the Company; potential future acquisitions and joint ventures; infrastructure risks; fluctuations in demand for, and prices of gold, silver and copper; fluctuations in foreign currency exchange rates; legal proceedings and the enforceability of judgments; going concern risk; risks related to the Company's information technology systems and cyber-security risks; and risk related to the outbreak of epidemics or pandemics or other health crises, including the recent outbreak of COVID-19. For additional information regarding these risks, please see the Company's Annual Information Form, under the heading "Risk Factors", which is available at www.sedar.com. These factors and assumptions are not intended to represent a complete list of the factors and assumptions that could affect the Company. These factors and assumptions, however, should be considered carefully. Although the Company has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in the forward-looking statements or information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Also, many of such factors are beyond the control of the Company. Accordingly, readers should not place undue reliance on forward-looking statements or information. The forward-looking information is made as of the date of this news release, and the Company assumes no obligation to publicly update or revise such forward-looking information, except as required by applicable securities laws. All scientific and technical information contained in this news release has been prepared by or reviewed and approved by Garrett Ainsworth, PGeo, President and CEO of the Company. Mr. Ainsworth is a qualified person for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/90896.

• Samples collected 285 metres to the north of the High-Grade Zone include 949 g/t silver.

• The new zone appears to be an extension of the historically mined area.

• Drilling to start next week: High-Grade Zone and new extension to be drill tested.

Vancouver, British Columbia–(Newsfile Corp. – July 22, 2021) – Mountain Boy Minerals Ltd (TSXV: MTB) (OTCQB: MBYMF) (FSE: M9U) ("Mountain Boy" or the "Company") announces that drilling is set to commence next week on its flagship American Creek property. Drilling will commence near the historic Mountain Boy mine and include testing a newly mapped area that is interpreted to be an extension of that zone.

The American Creek Project is centered on the past-producing Mountain Boy silver (MB-Ag) mine, located 20 kilometres north of Stewart in BC's Golden Triangle.

Recent work included mapping and sampling along the cliffs north of the old mine, an area that had not previously been examined due to the difficult access. Geologists skilled in rock climbing have now traced the structure hosting the High-Grade Zone approximately 400 metres to the north.

Three samples collected from what is interpreted to be a northward extension of the High-Grade Zone were rushed for assay:

• Subcrop sample C0034056 assayed 456 grams per tonne silver with 2.2% copper and 0.4% zinc.

• Bedrock sample C0034057 assayed 949 grams per tonne silver with 2.7% lead and 0.3% copper.

• Bedrock sample C0034058 assayed 1% copper with 0.25% zinc and 20 grams per tonne silver.

These samples were collected from the cliffs 285 metres to the north of the High-Grade zone at approximately the same elevation (Figure 1; trace of the mineralized horizon). Several other samples from along this newly mapped exposure have been sent to the lab.

Figure 1: Trace of the mineralized horizon

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/5332/90895_3f89736d84486bfb_001full.jpg

Two new drill pads are now constructed in locations that will effectively test the targets. The first pad, located near the previously outlined High-Grade Zone, will test the concept that the high-grade silver mineralization is partially controlled by high angle east-west striking structures that intersect the prominent shallow dipping south striking structure.

A second pad, 310 metres to the north of the first pad, will test the newly found mineralized zone. The holes will be drilled to intersect both the shallow dipping main structure and the high angle cross structures (Figure 2; plan map of drill pads and surface grab samples).

Figure 2: Plan map of drill pads and surface grab samples

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/5332/90895_3f89736d84486bfb_002full.jpg.

About Mountain Boy Minerals

Mountain Boy has six active projects spanning 604 square kilometres (60,398 hectares) in the prolific Golden Triangle of northern British Columbia.

1. The flagship American Creek project is centered on the historic Mountain Boy silver mine and is just north of the past producing Red Cliff gold and copper mine (in which the Company holds an interest). The American Creek project is road accessible and 20 km from the deep-water port of Stewart.

2. On the BA property, 178 drill holes have outlined a substantial zone of silver-lead-zinc mineralization located 4 km from the highway. Work this year is aimed at extending that zone.

3. Surprise Creek is interpreted to be hosted by the same prospective stratigraphy as the BA property and hosts multiple occurrences of silver, gold and base metals.

4. On the Theia project, work by Mountain Boy and previous explorers has outlined a silver bearing mineralized trend 500 meters long, highlighted by a 2020 grab sample that returned 39 kg per tonne silver (1,100 ounces per ton).

5. Southmore is located in the midst of some of the largest deposits in the Golden Triangle. It was explored in the 1980s through the early 1990s, and largely overlooked until Mountain Boy consolidated the property and confirmed the presence of multiple occurrences of gold, copper, lead and zinc.

6. The Telegraph project, acquired in May 2021, has a similar geological setting to major gold and copper-gold deposits in the Golden Triangle.

Mountain Boy is funded for the coming field season and plans to advance these projects, including drilling on select project(s).

The technical disclosure in this release has been read and approved by Andrew Wilkins, B.Sc., P.Geo., a qualified person as defined in National Instrument 43-101.

On behalf of the Board of Directors:

Lawrence Roulston
President & CEO

For further information, contact:

Nancy Curry
VP Corporate Development
(604) 220-2971

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

This news release may contain certain "forward-looking statements." Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/90895.

The big shareholder groups in EROAD Limited (NZSE:ERD) have power over the company. Generally speaking, as a company grows, institutions will increase their ownership. Conversely, insiders often decrease their ownership over time. Companies that have been privatized tend to have low insider ownership.

EROAD is not a large company by global standards. It has a market capitalization of NZ$536m, which means it wouldn't have the attention of many institutional investors. Taking a look at our data on the ownership groups (below), it seems that institutions own shares in the company. Let's delve deeper into each type of owner, to discover more about EROAD.

See our latest analysis for EROAD

What Does The Institutional Ownership Tell Us About EROAD?

Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices.

As you can see, institutional investors have a fair amount of stake in EROAD. This suggests some credibility amongst professional investors. But we can't rely on that fact alone since institutions make bad investments sometimes, just like everyone does. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of EROAD, (below). Of course, keep in mind that there are other factors to consider, too.

EROAD is not owned by hedge funds. The company's largest shareholder is NMC Investment Trust, with ownership of 16%. The second and third largest shareholders are Australian Ethical Investment Ltd. and Mitsubishi UFJ Kokusai Asset Management Co., Ltd., with an equal amount of shares to their name at 6.7%.

On further inspection, we found that more than half the company's shares are owned by the top 7 shareholders, suggesting that the interests of the larger shareholders are balanced out to an extent by the smaller ones.

While it makes sense to study institutional ownership data for a company, it also makes sense to study analyst sentiments to know which way the wind is blowing. There is a little analyst coverage of the stock, but not much. So there is room for it to gain more coverage.

Insider Ownership Of EROAD

The definition of an insider can differ slightly between different countries, but members of the board of directors always count. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it.

Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group.

We can see that insiders own shares in EROAD Limited. In their own names, insiders own NZ$26m worth of stock in the NZ$536m company. This shows at least some alignment. You can click here to see if those insiders have been buying or selling.

General Public Ownership

The general public holds a 38% stake in EROAD. While this size of ownership may not be enough to sway a policy decision in their favour, they can still make a collective impact on company policies.

Private Company Ownership

Our data indicates that Private Companies hold 18%, of the company's shares. It might be worth looking deeper into this. If related parties, such as insiders, have an interest in one of these private companies, that should be disclosed in the annual report. Private companies may also have a strategic interest in the company.

Next Steps:

It's always worth thinking about the different groups who own shares in a company. But to understand EROAD better, we need to consider many other factors. Be aware that EROAD is showing 2 warning signs in our investment analysis , you should know about…

If you are like me, you may want to think about whether this company will grow or shrink. Luckily, you can check this free report showing analyst forecasts for its future.

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. 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.

Thursday, July 22, 2021

The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including BHP Group (BHP), Booking Holdings (BKNG), and CVS Health (CVS). These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.

You can see all of today’s research reports here >>>

Q2 Earnings Season Scorecard

Including all of this morning's releases, we now have Q2 results from 103 S&P 500 members or 20.% of the index's total membership. Total earnings for these 103 index members are up +117.6% on +18.9% higher revenues, with 90.3% beating EPS estimates and a record 85.4% beating revenue estimates.

This is a notably improved performance from these 103 index members relative to what we have seen from the same group of companies in other recent periods, with the revenue outperformance notably standing out. Looking at Q2 as a whole, combining the actual results that have come out with estimates for the still to come companies, total S&P 500 earnings are currently expected to be up +72.7% on +19.8% higher revenues. For a detailed look at the Q2 earnings season and expectations for the coming periods, please check out our weekly Earnings Trends report >>>> All Around Earnings Strength

 

Today's Featured Research Reports

Shares of BHP have outperformed the Zacks Mining – Miscellaneous industry over the past year (+49.4% vs. +33.6%). The Zacks analyst believes that the company will continue to benefit from the rally in iron ore prices aided by strong demand in China. Improved industrial activity has led to a rally in copper prices, which is a positive for the company.

BHP’s efforts to make operations more efficient through the employment of smart technology will lead to a reduction in costs, thereby boosting margins. During fiscal 2021, the company achieved first production at four major development projects. It is currently involved in two major petroleum and potash projects, both of which are under development.

(You can read the full research report on BHP here >>>)

Booking Holdings shares have gained +7.9% over the last six months against the Zacks Internet Commerce industry’s loss of -21.4%. The Zacks analyst believes that steadily improving bookings, on the back of the re-opening of economy, have been benefiting the company.

The company remains optimistic about its highly variable cost structure and strong liquidity position, which it expects will help in navigating through the current crisis. Disruptions in the travel industry due to the pandemic and sluggishness in the agency business are major headwinds for the company.

(You can read the full research report on Booking Holdings here >>>)

Shares of CVS Health have gained +21.9% in the year to date period against the Zacks Retail Pharmacies and Drug Stores industry’s gain of +21.2%. The Zacks analyst is encouraged by the increasing demand for PBM and specialty pharmacy along with significant growth observed in the retail business.

The company’s consumer-centric digital strategy has become more relevant in the current environment as people are using technology more while staying indoors. A weak cough, cold and flu season, however, impacted growth within both Pharmacy Services and Retail/LTC in the first quarter. The repealing of the HIF for 2021 also hampered growth for Health Care Benefits unit.

(You can read the full research report on CVS Health here >>>)

Other noteworthy reports we are featuring today include Infosys (INFY), Chipotle Mexican Grill (CMG) and Exelon (EXC).

Sheraz Mian

Director of Research

Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>

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
 
Exelon Corporation (EXC) : Free Stock Analysis Report
 
Infosys Limited (INFY) : Free Stock Analysis Report
 
BHP Group Limited Sponsored ADR (BHP) : Free Stock Analysis Report
 
Chipotle Mexican Grill, Inc. (CMG) : Free Stock Analysis Report
 
CVS Health Corporation (CVS) : Free Stock Analysis Report
 
Booking Holdings Inc. (BKNG) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research

CRANBROOK, BC / ACCESSWIRE / July 22, 2021 / Eagle Plains Resources Ltd. (TSXV:EPL) and Canter Capital Corp. (a private B corporation) have executed a formal agreement whereby Canter holds the exclusive right to earn a 60% interest in EPL's 100%-owned Schott's Lake copper-zinc project by completing $5,000,000 in exploration expenditures, making $500,000 in cash payments and issuing 1,000,000 common shares to Eagle Plains over a four year period. A 2% NSR is reserved for Eagle Plains, which may be reduced to 1% upon payment by Canter of $1M. The claims cover an area of 2,160ha located in northeastern Saskatchewan, 40 km northwest of Flin Flon, Manitoba. Access to the property is gained via winter road and/or float plane.

Eagle Plains has recently completed a ground-based electromagnetic survey over 6.5 line-kms, covering known mineralization and surveying areas interpreted to have high potential. 3-D modelling of existing drill hole data is now underway. The objective of the 2021program is to identify possible down-plunge extensions of the existing deposit and search for similar mineralization elsewhere in the property.

See Schott's Lake property details here.

Schott's Lake Geology and History

The Schott's Lake property hosts metamorphic and intrusive rocks which are dominantly volcanic in origin and associated with an island arc environment. The rocks are folded into an easterly-dipping synform. Mineralization was first discovered in 1953 by Kay Lake Mines. A total of 79 drill holes have been completed for a total of 9516m (31,200') and a historical resource of 1,983,850 tonnes grading 0.61% copper and 1.35% zinc (Aur Resources, 2003-SDMI 0320). Notably, the historical resource did not include precious metal enrichment and/or cobalt. Eagle Plains' management considers these estimates to be historical in nature and cautions that a Qualified Person has not done sufficient work to classify the historical estimates as current mineral resources or mineral reserves in accordance with National Instrument 43-101. These estimates do not comply with current definitions prescribed by National Instrument 43-101 or the Canadian Institute of Mining and are disclosed only as indications of the presence of mineralization and are considered to be a guide for additional work. The historical models and data sets used to prepare these historical estimates are not available to Eagle Plains, nor are any more recent resource estimates or drill information on the Property.

Mineralization at Schott's Lake consists of semi-massive to massive pyrrhotite and pyrite with associated chalcopyrite (copper) and sphalerite (zinc) mineralization. The Schott's Lake deposit is interpreted to be a typical exhalative massive sulphide zone. The mineralized zone has an average thickness of 20.4m, is overturned and lies on the eastern limb of a major north-easterly plunging fold. The deepest mineralized intercept is at a vertical depth of 266 meters with mineralization open to depth.

The following table outlines significant historical drill intercepts:

Table 1- Significant Drill Intercepts-Schotts Lake Project*

* intercepts in the above table refer to actual drilled thickness in meters and may not represent the true thickness of the intercept

Charles C. Downie, P.Geo., a "qualified person" for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has prepared, reviewed, and approved the scientific and technical disclosure in the news release.

About Eagle Plains Resources

Based in Cranbrook, B.C., Eagle Plains continues to conduct research, acquire and explore mineral projects throughout western Canada. The Company is committed to steadily enhancing shareholder value by advancing our diverse portfolio of projects toward discovery through collaborative partnerships and development of a highly experienced technical team. Eagle Plains also holds significant royalty interests in western Canadian projects covering a broad spectrum of commodities. Management's focus is to advance its most promising exploration projects. In addition, Eagle Plains continues to seek out and secure high-quality, unencumbered projects through research, staking and strategic acquisitions. Throughout the exploration process, our mission is to help maintain prosperous communities by exploring for and discovering resource opportunities while building lasting relationships through honest and respectful business practices.

Expenditures from 2011-2020 on Eagle Plains-related projects exceed $22M, the majority of which was funded by third-party partners. This exploration work resulted in approximately 37,000 m of diamond-drilling and extensive ground-based exploration work facilitating the advancement of numerous projects at various stages of development.

On behalf of the Board of Directors

"Tim J. Termuende"
President and CEO

For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com

Cautionary Note Regarding Forward-Looking Statements

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

SOURCE: Eagle Plains Resources Ltd.

View source version on accesswire.com:
https://www.accesswire.com/656743/Eagle-Plains-Executes-Option-Agreement-with-Canter-on-Schotts-Lake-Copper-Project-Saskatchewan

The market expects Great Western Bancorp (GWB) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2021. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.

The earnings report, which is expected to be released on July 29, 2021, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus Estimate

This holding company for Great Western Bank is expected to post quarterly earnings of $0.76 per share in its upcoming report, which represents a year-over-year change of +660%.

Revenues are expected to be $118.46 million, up 25.3% from the year-ago quarter.

Estimate Revisions Trend

The consensus EPS estimate for the quarter has been revised 0.45% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.

Price, Consensus and EPS Surprise

Earnings Whisper

Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model — the Zacks Earnings ESP (Expected Surprise Prediction).

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Great Western Bancorp?

For Great Western Bancorp, the Most Accurate Estimate is the same as the Zacks Consensus Estimate, suggesting that there are no recent analyst views which differ from what have been considered to derive the consensus estimate. This has resulted in an Earnings ESP of 0%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination makes it difficult to conclusively predict that Great Western Bancorp will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?

Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Great Western Bancorp would post earnings of $0.61 per share when it actually produced earnings of $0.93, delivering a surprise of +52.46%.

Over the last four quarters, the company has beaten consensus EPS estimates two times.

Bottom Line

An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Great Western Bancorp doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

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

Great Western Bancorp, Inc. (GWB) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

(Bloomberg) — A final settlement between Brazilian authorities and the Samarco iron-ore venture can be reached this year, bringing legal certainty to owners Vale SA and BHP Group six years after a devastating tailings dam collapse.

That’s according to federal prosecutor Carlos Bruno Ferreira da Silva, who said in an interview that the final reparation value is yet to be defined and will be based on independent technical studies.

Silva, who is leading talks on behalf of prosecutors, pointed to a document signed by the parties that estimates talks to last about four months from June 22, the last four weeks of which would be focused on a final draft. Authorities and company officials have been meeting weekly.

A settlement would replace a giant lawsuit, removing a considerable legal overhang for Samarco and its shareholders after the 2015 collapse spewed millions of tons of sludge into communities and waterways, killing 19 people. That public-civil suit is suspended during the talks.

Read More: BHP-Vale JV Offers 85% Bond Haircut or Equity to Creditors

Still, there’s a lot at stake in the final phase of negotiations. In 2016, prosecutors issued a preliminary reparation calculation of 155 billion reais ($30 billion). Earlier this week, Reuters quoted Minas Gerais Governor Romeu Zema as saying it could reach 100 billion reais over five years. Vale’s recent 37.7 billion-real settlement for a seperate dam disaster at Brumadinho offers another point of reference — it came in at two-thirds of what was initially sought by courts.

Private consulting firms are carrying out the socio-environmental diagnosis to measure the damage and what the companies have already done.

“This value can be higher or lower, depending on what the studies show,” said Silva.

For now, Silva says authorities have come up with detailed proposals to address individual indemnities. The Brazilian National Council of Justice mediating the negotiation is expected to convene public hearings in August and September to hear from the impacted population.

More stories like this are available on bloomberg.com

Subscribe now to stay ahead with the most trusted business news source.

©2021 Bloomberg L.P.

United States Steel (X) closed at $23.04 in the latest trading session, marking a -0.09% move from the prior day. This move lagged the S&P 500's daily gain of 0.2%.

Prior to today's trading, shares of the steel maker had lost 1.83% over the past month. This has lagged the Basic Materials sector's gain of 2.47% and the S&P 500's gain of 3.28% in that time.

Investors will be hoping for strength from X as it approaches its next earnings release, which is expected to be July 29, 2021. The company is expected to report EPS of $3.11, up 216.48% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $4.7 billion, up 124.91% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $11.51 per share and revenue of $18.38 billion, which would represent changes of +346.47% and +88.71%, respectively, from the prior year.

Any recent changes to analyst estimates for X should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 20.17% higher. X currently has a Zacks Rank of #2 (Buy).

Valuation is also important, so investors should note that X has a Forward P/E ratio of 2 right now. Its industry sports an average Forward P/E of 5.86, so we one might conclude that X is trading at a discount comparatively.

Investors should also note that X has a PEG ratio of 0.25 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Steel – Producers industry currently had an average PEG ratio of 0.28 as of yesterday's close.

The Steel – Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 13, which puts it in the top 6% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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
 
United States Steel Corporation (X) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research

(Bloomberg) — BHP Group is considering getting out of oil and gas in a multibillion-dollar exit that would accelerate its retreat from fossil fuels, according to people familiar with the matter.

The world’s biggest miner is reviewing its petroleum business and considering options including a trade sale, said the people, who asked not to be identified as the talks are private. The business, which is forecast to earn more than $2 billion this year, could be worth an estimated $15 billion or more, one of the people said.

BHP’s energy assets make it an outlier among the world’s biggest miners — rival Anglo American Plc has already exited thermal coal under investor pressure and BHP is trying to follow suit. The company has long said the oil business was one of its strategic pillars and argued that it will make money for at least another decade. But as the world tries to shift away from fossil fuels, BHP wants to avoid getting stuck with assets that more become more difficult to sell, the people said.

The deliberations are still at an early stage and no final decision has been made, the people said. A spokesman for BHP declined to comment.

The move comes as oil supermajors grapple with how to respond to investor pressure over climate, in some cases by shrinking their core production and adding renewable energy assets.

Read more: The Retreat of Exxon and the Oil Majors Won’t Stop Fossil Fuel

BHP wants to exit while it can still get a good price for the assets, aiming to repeat a 2018 sale of its shale business to BP Plc for $10.4 billion, the people said. And unlike big-oil rivals, BHP doesn’t depend on profits from the energy business, which are dwarfed by the company’s giant iron ore and copper units.

The timing could be good for an oil exit. The economic recovery from Covid-19 has transformed the fortunes of oil producers, with Brent oil futures having rallied about 60% in the past year.

By contrast, the company’s efforts to get out of thermal coal so far have been disappointing, after early bids for mines in Australia came in lower than the company’s own valuations last year.

Getting out of both thermal coal and petroleum would help BHP make its case to investors as a company geared toward commodities of the future. The miner is also expected to sanction a giant potash mine in Canada next month, which could make it a key supplier of the crop nutrient once production begins. BHP is scheduled to report annual results on Aug. 17.

BHP has been in oil and gas since the 1960s, and has assets in the Gulf of Mexico and off the coast of Australia. It produced 102.8 million barrels of oil equivalent in the year ending June 30.

“BHP is an outlier in the mining sector for its petroleum business and this is often cited in our investors discussions as a point of detraction,” said RBC Capital Markets analyst Tyler Broda. “With rising ESG pressures facing the industry, but also as this business potentially enters into a re-investment phase, we can see why management might be contemplating an exit.” Broda estimates the business is worth about $14.3 billion.

Read: Falling Oil Prices, Treasury Yields May Power New Energy Stocks

While divesting fossil fuel assets would help to strengthen BHP’s ESG metrics, it may have to sell them at a discount, Saul Kavonic, an analyst at Credit Suisse Group AG, said in a note. Exiting the oil and gas business could also leave the company short of medium-term growth catalysts, with the Jansen potash project in Canada “a late-decade story,” he added.

BHP shares rose as much as 2.3% in Sydney trading on Wednesday.

(Adds analyst comment in paragraph 12, share reaction)

More stories like this are available on bloomberg.com

Subscribe now to stay ahead with the most trusted business news source.

©2021 Bloomberg L.P.

Here are four stocks with buy rank and strong momentum characteristics for investors to consider today, July 21st:

NIKE, Inc. NKE: This leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories has a Zacks Rank #1 (Strong Buy) and witnessed the Zacks Consensus Estimate for its current year earnings increasing 10.1% over the last 60 days.

NIKE, Inc. Price and Consensus

NIKE, Inc. price-consensus-chart | NIKE, Inc. Quote

Nike’s shares gained 22.8% over the last one month compared to S&P 500’s rise of 1.5%. The company possesses a Momentum Score of B.

NIKE, Inc. Price

NIKE, Inc. price | NIKE, Inc. Quote

Lululemon Athletica Inc. LULU: This company that designs and retails athletic clothing for women, men, and female youth has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 7.3% over the last 60 days.

Lululemon Athletica Inc. Price and Consensus

Lululemon Athletica Inc. price-consensus-chart | Lululemon Athletica Inc. Quote

Lululemon Athletica’s shares gained 8.8% over the last one month. The company possesses a Momentum Score of B.

Lululemon Athletica Inc. Price

Lululemon Athletica Inc. price | Lululemon Athletica Inc. Quote

BHP Group BHP: This resources company has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 20% over the last 60 days.

BHP Group Price and Consensus

BHP Group price-consensus-chart | BHP Group Quote

BHP’s shares gained 4.8% over the last one month. The company possesses a Momentum Score of B.

BHP Group Price

BHP Group price | BHP Group Quote

ABB Ltd ABB: This company that manufactures and sells electrification, industrial automation, and robotics and motion products has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 4.7% over the last 60 days.

ABB Ltd Price and Consensus

ABB Ltd price-consensus-chart | ABB Ltd Quote

ABB’s shares gained 4.1% over the last one month. The company possesses a Momentum Score of B.

ABB Ltd Price

ABB Ltd price | ABB Ltd Quote

See the full list of top ranked stocks here

Learn more about the Momentum score and how it is calculated here.

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

NIKE, Inc. (NKE) : Free Stock Analysis Report

BHP Group Limited Sponsored ADR (BHP) : Free Stock Analysis Report

ABB Ltd (ABB) : Free Stock Analysis Report

lululemon athletica inc. (LULU) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

(Fixes typographical error in paragraph 2)

July 21 (Reuters) – Miner Rio Tinto on Wednesday decided to shut a furnace at its Richards Bay Minerals (RBM) project in South Africa, as supply of the raw material used to fuel it was hampered by an "escalation in the security situation".

Last month, it declared a force majeure on customer contracts and halted mining and smelting operations at the project following a violent community unrest and a report that an employee was killed in May.

The miner said shutting one of the four furnaces at the mineral sands project would reduce the use of its stockpile of feedstock and limit the long-term impacts of a shutdown on RBM's furnaces.

"Shutting a furnace has a major impact on the business and broader community and it not a decision we have taken lightly," Sinead Kaufman, chief executive of Rio's minerals division, said.

RBM will reassess the situation to decide on restarting the furnace or potentially shutting other furnaces depending on "when the safety and security position improves," Rio said.

All operations at RBM remain halted until further notice, the miner said. (Reporting by Shashwat Awasthi; Editing by Arun Koyyur)

MELBOURNE, Australia, July 21, 2021–(BUSINESS WIRE)–Rio Tinto’s Richards Bay Minerals (RBM) operation in South Africa will shut one of its four furnaces due to the depletion of available feedstock at the plant. This is the result of mining operations being halted following an escalation in the security situation at the operations which significantly hampered the mine’s ability to operate safely. Rio Tinto declared Force Majeure on our customer contracts at RBM on 30 June 2021.

The four furnaces at RBM are dependent on a stockpile of feedstock, which is being steadily depleted. RBM’s decision to shut one furnace will reduce the call on the stockpile and limit the long-term impacts of a shutdown on the RBM’s furnaces.

Rio Tinto chief executive Minerals, Sinead Kaufman, said: "Shutting a furnace has a major impact on the business and broader community and it not a decision we have taken lighty. However, we will not put production ahead of the safety of our people and there are still fundamental criteria that must be met before we can resume operations in a sustainable manner.

"We continue to work with national and provincial governments as well as community structures to find a lasting solution to the current situation so that operations can resume as soon as it is possible to safely do so."

RBM will regularly reassess the situation to make further decisions on any potential restart or the shutting of the other furnaces, depending on when the safety and security position improves.

RBM is one of the largest businesses in KwaZulu-Natal, with a workforce of some 5,000 people and the largest taxpayer in KwaZulu-Natal. The company contributed R8 billion to the national economy in 2020.

All operations at RBM remain halted until further notice.

This announcement is authorised for release to the market by Steve Allen, Rio Tinto’s Group Company Secretary.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210720006316/en/

Contacts

Please direct all enquiries to media.enquiries@riotinto.com

Media Relations, UK
Illtud Harri
M +44 7920 503 600

David Outhwaite
M +44 7787 597 493

Media Relations, Americas
Matthew Klar
T +1 514 608 4429

Media Relations, Australia
Jonathan Rose
M +61 447 028 913

Matt Chambers
M +61 433 525 739

Jesse Riseborough
M +61 436 653 412

Investor Relations, UK
Menno Sanderse
M: +44 7825 195 178

David Ovington
M +44 7920 010 978

Clare Peever
M +44 7788 967 877

Investor Relations, Australia
Natalie Worley
M +61 409 210 462

Amar Jambaa
M +61 472 865 948

Rio Tinto plc
6 St James’s Square
London SW1Y 4AD
United Kingdom
T +44 20 7781 2000
Registered in England
No. 719885

Rio Tinto Limited
Level 7, 360 Collins Street
Melbourne 3000
Australia
T +61 3 9283 3333
Registered in Australia
ABN 96 004 458 404

riotinto.com

Category: RBM
Category: General

By Melanie Burton

MELBOURNE (Reuters) – Rio Tinto is asking train drivers working in mineral-rich Western Australia to work more hours, following a move by rival BHP Group, as miners rush to ship millions of tonnes of iron ore amid soaring prices for the steel making material.

The push comes among a worsening skills shortage in Australia's west that has been exacerbated by strict coronavirus restrictions, which unions say have raised mental health risks for workers and their families.

Train driver Paul Bloxsom, who will leave Rio next month, said Western Australian border constraints to keep out COVID-19 that include a 14-day quarantine meant he had only seen his family in Queensland four times in 15 months.

"That's a challenge in itself, the isolation and the loneliness and so on. There was a combination of things, and I just had enough. And there's a lot more jobs going back at home on the east coast," he told Reuters.

Mine workers in Australia often live in cities and fly in and fly out (FIFO) to remote mine sites, a commute that can take anywhere from several hours to a day, including connections.

While miners in Western Australia are enjoying a commodity boom that has powered new construction projects, they are having to compete for workers with government-backed infrastructure projects on the other side of the country.

"Unlike previous construction-led growth periods for our sector, where up to 1,000 people a week were moving to Western Australia for work, there are now strong employment prospects in the eastern states," the state's Chamber of Minerals and Energy said last month.

International skilled migration has also dried up due to Australia's caps on immigration arrivals.

Miners have been looking for ways to ensure they can keep production at full tilt until Australia boosts its vaccination rates, said analyst Peter O'Connor of Shaw and Partners in Sydney.

"Short of keeping people in Western Australia on extended rosters, which wears people out, their options are limited – that is a real and present risk to production," he said.

For train drivers, Rio has asked for expressions of interest in a two-week on, one-week off roster, compared to the typical two-week on, two-week off roster, but said the request was voluntary and would include appropriate remuneration.

BHP has already mandated that roster for its FIFO train drivers as a temporary measure through to August 2022, blaming the skills shortage, but drawing criticism from the CFMEU union which says it has come at a cost for drivers and their families.

BHP, which has announced plans to train 200 new drivers, said it was offering interstate FIFO employees support including financial assistance for temporary and permanent relocation, flexible work options, as well as mental health support.

Rio said it is looking to recruit drivers, and is also providing temporary and permanent relocation packages for interstate workers.

The state government is also taking steps to boost skilled worker numbers, but noted in a statement its strong border measures have kept out COVID-19 and helped drive the national economy.

The CFMEU, however, wants miners and government to find ways for FIFO workers to spend less time in quarantine and more time with their families, said Greg Busson, secretary of the CFMEU mining and energy division.

"We have been dealing with this for 18 months now, surely we have some lessons learned," he said.

(Reporting by Melanie Burton; editing by Richard Pullin)

(Bloomberg) — Tesla Inc. has struck a nickel-supply deal with BHP Group, as the electric-car maker seeks to protect itself from a future supply crunch.

BHP will provide the automaker with the metal from its Nickel West operation in Western Australia, the world’s biggest miner said in a statement. BHP gave few further details, but said the companies would work together to make the battery supply chain more sustainable.

Telsa’s billionaire boss, Elon Musk, has repeatedly expressed concern about future supplies of nickel due to challenges in sustainable sourcing. Musk has pleaded with miners to produce more nickel, with demand set to skyrocket as the world increasingly moves toward electric vehicles.

Read more on Tesla’s plans to lock in supply as battery demand booms

Nickel is a key component in lithium-ion batteries, used in electric vehicles. It packs more energy into batteries and allows producers to reduce use of cobalt, which is more expensive and has a less transparent supply chain.

Telsa has struck a string of deals with mining companies for the commodities it needs to make batteries, including cobalt pacts with Glencore Plc and supporting a nickel venture in New Caledonia.

For BHP, it marks a turnaround for the company’s Nickel West business. The company unsuccessfully tried to sell the unit in 2014 and has since pivoted it to serve battery makers, rather than traditional customers such as the stainless steel industry.

Bloomberg originally reported that the two companies were in talks in October.

More stories like this are available on bloomberg.com

Subscribe now to stay ahead with the most trusted business news source.

©2021 Bloomberg L.P.

Here are four stocks with buy rank and strong income characteristics for investors to consider today, July 21st:

BHP Group BHP: This resources company has witnessed the Zacks Consensus Estimate for its current year earnings increasing 20% over the last 60 days.

BHP Group Price and Consensus

BHP Group price-consensus-chart | BHP Group Quote

This Zacks Rank #1 (Strong Buy) company has a dividend yield of 5.47%, compared with the industry average of 0.00%. Its five-year average dividend yield is 4.36%.

BHP Group Dividend Yield (TTM)

BHP Group dividend-yield-ttm | BHP Group Quote

Fanhua Inc. FANH: This provider of financial services has witnessed the Zacks Consensus Estimate for its current year earnings increasing 1% over the last 60 days.

Fanhua Inc. Price and Consensus

Fanhua Inc. price-consensus-chart | Fanhua Inc. Quote

This Zacks Rank #1 company has a dividend yield of 3.83%, compared with the industry average of 0.78%. Its five-year average dividend yield is 3.40%.

Fanhua Inc. Dividend Yield (TTM)

Fanhua Inc. dividend-yield-ttm | Fanhua Inc. Quote

Citizens Financial Group, Inc. CFG: This bank holding company for Citizens Bank, National Association has witnessed the Zacks Consensus Estimate for its current year earnings increasing 1.9% over the last 60 days.

Citizens Financial Group, Inc. Price and Consensus

Citizens Financial Group, Inc. price-consensus-chart | Citizens Financial Group, Inc. Quote

This Zacks Rank #1 company has a dividend yield of 3.66%, compared with the industry average of 2.41%. Its five-year average dividend yield is 3.32%.

Citizens Financial Group, Inc. Dividend Yield (TTM)

Citizens Financial Group, Inc. dividend-yield-ttm | Citizens Financial Group, Inc. Quote

Tenaris S.A. TS: This manufacturer and supplier of seamless steel pipe products and associated services to the oil and gas, energy and other industries has witnessed the Zacks Consensus Estimate for its current year earnings increasing 1.1% over the last 60 days.

Tenaris S.A. Price and Consensus

Tenaris S.A. price-consensus-chart | Tenaris S.A. Quote

This Zacks Rank #1 company has a dividend yield of 2.86%, compared with the industry average of 0.79%. Its five-year average dividend yield is 3.48%.

Tenaris S.A. Dividend Yield (TTM)

Tenaris S.A. dividend-yield-ttm | Tenaris S.A. Quote

See the full list of top ranked stocks here.

Find more top income stocks with some of our great premium screens.

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

Tenaris S.A. (TS) : Free Stock Analysis Report

Citizens Financial Group, Inc. (CFG) : Free Stock Analysis Report

Fanhua Inc. (FANH) : Free Stock Analysis Report

To read this article on Zacks.com click here.

(Adds details and writes through)

MELBOURNE July 22 (Reuters) – Global miner BHP Group said on Thursday it signed a nickel supply agreement with Tesla Inc and will work with the electric carmaker on lowering carbon emissions in the battery supply chain.

Tesla said in June it expects to spend more than $1 billion a year on battery raw materials from Australia given the country's reliable mining industry and responsible production practices.

Western automaker are also seeking to diversify supply chains to lessen their dependence on China, in line with a policy by U.S. President Joe Biden's administration to rely on allies to supply of the bulk of metals for electric vehicles.

BHP said the metal will be supplied from its Nickel West project in Western Australia which is set to start producing nickel sulphate, a key battery chemical, and one that has much higher margins than nickel metal, in the September quarter.

Nickel makes batteries energy-dense, allowing cars to run further on a single charge.

BHP's nickel division accounts for less than 1 percent its earnings, which are dominated by iron ore.

BHP and Tesla will also look at end-to-end raw material tracing using blockchain, and work on energy storage solutions, the miner said in the statement. (Reporting by Melanie Burton and Nikhil Kurian Nainan in Bengaluru; Editing by Subhranshu Sahu and Richard Pullin)

Southern Copper Corporation SCCO is expected to deliver year-over-year improvement in both revenues and earnings when it reports second-quarter 2021 results.

Q1 Results

In the last reported quarter, Southern Copper’s earnings and sales not only beat the Zacks Consensus Estimate but also improved year over year owing to higher prices for copper, silver and zinc.

The company has beat earnings estimates in each of the trailing four quarters, the average surprise being 14.2%.

Southern Copper Corporation Price and EPS Surprise

Southern Copper Corporation price-eps-surprise | Southern Copper Corporation Quote

Q2 Estimates

The Zacks Consensus Estimate for second-quarter 2021 earnings per share is currently pegged at $1.09, suggesting an improvement of 220% from the prior-year quarter. The estimate has remained unchanged over the past 30 days. The consensus mark for the quarter’s revenues is pegged at $2.55 billion, suggesting year-over-year growth of 42.6%.

What the Zacks Model Unveils

Our proven model does not predict an earnings beat for Southern Copper this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. However, this is not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Earnings ESP: The Earnings ESP for Southern Copper is -3.67%.

Zacks Rank: Southern Copper currently carries a Zacks Rank of 3.

Key Factors to Note

Copper represents more than 80% of the company’s sales. Over the past few quarters the company has been witnessing lower production at its Peruvian mines due to lower ore grades and this is expected to continue through 2022. Consequently, the second-quarter production numbers are likely to reflect this impact. This will, however, be somewhat offset by higher production at its Mexican mines and its Mexican underground operations (IMMSA unit) owing to higher production at the San Martin mine.

Overall silver production is likely to be lower on account of lesser production at Buenavista and IMMSA. Production of molybdenum, its main by-product, has been high due of rising production at the Peruvian mines, namely the Toquepala mine after throughput increased at the new Molybdenum plant, spurred by improvements in ore grades and recoveries at other operations. However, this might have been offset by lower production at Buenavista due to lower grades.

Copper prices have gained throughout the second quarter on the back of strong demand from China, while production has been declining in Chile, which is the top producer of the metal. The pickup in global industrial activity has been working in favor of the industrial metal. Average silver prices have been gaining on the back of increase in industrial activity. Zinc prices have gone up in the second quarter on the back of high demand from the steel sector. Higher metal prices might have contributed to the company’s top-line performance in the second quarter and offset the impact of lower production. Operating cash costs are expected to be higher in the to-be-reported quarter due to lower grades. This might get reflected on margins.

Share Price Performance

Image Source: Zacks Investment Research

The company’s shares have gained 41.9% over the past year compared with the industry’s rally of 73.9%.

Stocks to Consider

Here are some Basic Materials stocks, which you may consider as our model shows that these have the right combination of elements to post an earnings beat in their upcoming releases.

LyondellBasell Industries N.V. LYB has an Earnings ESP of +15.10% and a Zacks Rank of 1, currently. You can see the complete list of today’s Zacks #1 Rank stocks here.

Celanese Corporation CE has a Zacks Rank #2 and an Earnings ESP of +8.38%, at present.

FreeportMcMoRan Inc. FCX, a Zacks #2 Ranked stock, has an Earnings ESP of +0.82%.

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

Southern Copper Corporation (SCCO) : Free Stock Analysis Report

FreeportMcMoRan Inc. (FCX) : Free Stock Analysis Report

Celanese Corporation (CE) : Free Stock Analysis Report

LyondellBasell Industries N.V. (LYB) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

* BHP to supply Tesla from Nickel West operation

* Nickel West to start sulphate output in Sept quarter

* BHP, Tesla to work on energy storage solutions (Adds share price move, detail)

MELBOURNE July 22 (Reuters) – Global miner BHP Group said on Thursday it signed a nickel supply agreement with Tesla Inc and will work with the electric carmaker on lowering carbon emissions in the battery supply chain.

Tesla said in June it expects to spend more than $1 billion a year on battery raw materials from Australia given the country's reliable mining industry and responsible production practices.

Western automakers are also seeking to diversify supply chains to lessen their dependence on China, in line with a U.S. policy to rely on allies to supply metals for electric vehicles.

BHP's nickel division accounts for less than 1% of its earnings, which are dominated by iron ore. Shares in the miner were up 3% at A$51.37 by 0454 GMT.

BHP said the metal will be supplied from its Nickel West operation in Western Australia, which is set to add nickel sulphate – a key battery chemical, and one that has much higher margins than nickel metal – in the September quarter.

Nickel makes batteries energy-dense, allowing cars to run further on a single charge.

BHP and Tesla will also look at end-to-end raw material tracing using blockchain, and work on energy storage solutions, the miner said in a statement.

"Tesla is going to take up available nickel from well-established producers with strong operational credentials as much as it can," said Steven Brown, an independent consultant based in Australia.

"These are logical moves for Tesla at this point of time when there's not a lot of other opportunities."

Nickel West's carbon footprint is around half the size of even the newest producers in top supplier Indonesia, which use an energy-intensive technology to extract nickel from laterite ores, he said. Its waste disposal practices are also seen to be lower risk.

BHP in February signed a deal to secure up to half of its power needs for its Kwinana nickel refinery from a local solar farm, although the rest is powered by the state grid, which uses coal power.

Indonesian producers have said they will initially dispose of their waste on land but there are questions about where their waste will go in the long term, and whether that might mean discharging them into the sea, Brown added.

Indonesia currently accounts for about 30% of nickel supply, according to the International Nickel Study Group (INSG), but Brown expects that to reach 50% by 2025.

Australia was the world's fifth biggest producer of mined nickel last year, according to INSG figures, accounting for about 7% of global supply.

BHP has committed to cutting carbon emissions by 30% by 2030 from 2020 levels with a long-term target of net zero operational emissions by 2050. It is working with customers to lower emissions from the steel-making industry that is among the worlds' heaviest polluters. (Reporting by Melanie Burton and Nikhil Kurian Nainan in Bengaluru; Editing by Subhranshu Sahu and Richard Pullin)

Investors are always looking for stocks that are poised to beat at earnings season and Teck Resources Limited TECK may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.

That is because Teck is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good indicator of some favorable trends underneath the surface for TECK in this report.

In fact, the Most Accurate Estimate for the current quarter is currently at 54 cents per share for TECK, compared to a broader Zacks Consensus Estimate of 50 cents per share. This suggests that analysts have very recently bumped up their estimates for TECK, giving the stock a Zacks Earnings ESP of +8.15% heading into earnings season.

Teck Resources Limited Price and EPS Surprise

Teck Resources Limited price-eps-surprise | Teck Resources Limited Quote

Why is this Important?

A positive reading for the Zacks Earnings ESP has proven to be very powerful in producing both positive surprises, and outperforming the market. Our recent 10-year backtest shows that stocks that have a positive Earnings ESP and a Zacks Rank #3 (Hold) or better show a positive surprise nearly 70% of the time, and have returned over 28% on average in annual returns (see more Top Earnings ESP stocks here).

Given that TECK has a Zacks Rank #3 and an ESP in positive territory, investors might want to consider this stock ahead of earnings. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Clearly, recent earnings estimate revisions suggest that good things are ahead for Teck, and that a beat might be in the cards for the upcoming report.

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

Teck Resources Ltd (TECK) : Free Stock Analysis Report

To read this article on Zacks.com click here.

VANCOUVER, British Columbia, July 21, 2021 (GLOBE NEWSWIRE) — Imperial Metals Corporation (the “Company”) (TSX:III) reports Red Chris metal production (100%) for the second quarter of 2021 was 17.6 million pounds copper and 15,451 ounces gold, compared to 15.9 million pounds copper and 15,850 ounces gold produced during the first quarter of 2021. Improved throughput and recovery for the quarter were offset by lower head grades of 0.40% copper and 0.35 g/t gold compared to 0.43% copper and 0.42g/t gold in the first quarter. Imperial’s 30% portion of the first quarter production was 5.3 million pounds copper and 4,635 ounces gold.

The newly installed cleaner column was commissioned during the quarter and is now operating. Early results have shown improved gold recovery over results prior to the installation of this cleaner column cell.

The portal site excavation has been completed and the exploration decline is progressing, having advanced 21 metres as of July 14, 2021. The East Zone high grade pod is being drilled at a tighter spacing to provide the information required to consider “early mining” as part of the Red Chris Block Cave Pre-Feasibility Study. Mining of this particularly high-grade section of the East Zone prior to the block cave mining may increase initial cash flow and help fund the development of block caving operations. The Pre-Feasibility Study is expected to be released by the end of September 2021.

Exploration Update

Drilling continues to expand the higher-grade mineralization at East Ridge, the recently discovered extension of the Red Chris deposit. Drill hole RC700 intersected 366 metres grading 1.1g/t gold and 0.93% copper from a depth of 738 metres, including 146 metres grading 2.1g/t gold and 1.6% copper from a depth of 780 metres. The discovery of such wide zones of high-grade mineralization, which are comparable to some of the better intercepts from the East Zone, clearly illustrates the potential for the East Ridge to develop into an important new development area. Hole RC700 was drilled 100 metres above the previously reported hole RC688. Drill hole RC692 targeted the 100 metre down-plunge projection of mineralization intersected in hole RC684. Hole RC692 successfully intersected 274 metres of 0.40g/t gold and 0.41% copper from 1090 metres to 1364 metres.

Brian Kynoch, President of Imperial Metals Corporation, said “RC700 has yielded the highest grades to date from the East Ridge. This intercept is similar to those encountered in the high-grade pods in the East Zone and shows that this eastern extension of mineralization at Red Chris has the potential to contain high-grade pods similar to those in the East Zone.”

Red Chris – Significant results since June 9, 2021 drilling update:

During the second quarter there were up to eight drill rigs in operation, completing 26 drill holes for a total of about 30,055 drilled metres. All the holes, except six geotechnical drill holes, intersected mineralization. Since the commencement of the Joint Venture in 2019, 137 drill holes totalling about 166,686 metres have been drilled.

Drilling is ongoing at East Ridge to further define the extent and continuity of this zone, with ten holes completed and three in progress. The follow up drilling is being completed on a nominal 100 x 100 metre grid to determine the footprint of the mineralization and demonstrate the continuity of the higher-grade mineralization. The East Ridge is open in all directions and has extended the eastern limit of copper and gold mineralization.

Approximately 50,000 metres of growth-related drilling is planned this calendar year.

Jim Miller-Tait, P.Geo., Imperial Metals Vice President Exploration, is the designated Qualified Person as defined by National Instrument 43-101 for the Red Chris exploration program and has reviewed this news release. Red Chris samples for the 2021 drilling reported were analysed at Bureau Veritas Mineral Laboratories in Vancouver. A full QA/QC program using blanks, standards and duplicates was completed for all diamond drilling samples submitted to the labs. Significant assay intervals reported represent apparent widths. Insufficient geological information is available to confirm the geological model and true width of significant assay intervals.

Cross section and plan view maps are available on imperialmetals.com.

About Imperial

Imperial is a Vancouver based exploration, mine development and operating company. The Company, through its subsidiaries, owns a 30% interest in the Red Chris mine, and a 100% interest in both the Mount Polley and Huckleberry copper mines in British Columbia.

Company Contacts

Brian Kynoch | President | 604.669.8959
Darb Dhillon | Chief Financial Officer | 604.488.2658
Jim Miller-Tait | Vice President Exploration | 604.488.2676

Cautionary Note Regarding Forward-Looking Statements

Certain information contained in this news release are not statements of historical fact and are “forward-looking” statements. Forward-looking statements relate to future events or future performance and reflect Company management’s expectations or beliefs regarding future events and include, but are not limited to, statements and inferences regarding the potential for continued improved gold recovery from the newly installed cleaner column, the Company’s expectations and timing with respect to the Red Chris Block Cave Pre-Feasibility Study, current and planned drilling programs at Red Chris, including mining of the East Zone high grade pod and plans to define the extent and continuity of the mineralization in the East Ridge and the potential importance of the East Ridge as a development area, and statements regarding cash flow and the funding of block caving operations.

In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "outlook", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative of these terms or comparable terminology. By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.

In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on information currently available to the Company as well as the Company’s current beliefs and assumptions. These factors and assumptions and beliefs and assumptions include, the risk factors detailed from time to time in the Company’s interim and annual financial statements and management’s discussion and analysis of those statements, all of which are filed and available for review on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended, many of which are beyond the Company’s ability to control or predict. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and all forward-looking statements in this news release are qualified by these cautionary statements. Such information is given only as of the date of this news release. The Company does not assume any obligation to update its forward-looking information to reflect new information, subsequent events or otherwise, except as required by law.

NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES

TORONTO, ON / ACCESSWIRE / July 21, 2021 / Black Iron Inc. ("Black Iron" or the "Company") (TSX:BKI; OTC PINK:BKIRF; FRANKFURT:BIN) is pleased to announce that it has closed its previously announced short form prospectus offering, including the full exercise of the over-allotment option, raising gross proceeds of $11.5 million for the Company through the issuance of 28,750,000 common shares of the Company (collectively, the "Shares") at a price of $0.40 per Share (the "Offering"). The Offering is subject to final approval by the Toronto Stock Exchange (the "TSX").

Canaccord Genuity Corp. acted as agent and sole bookrunner in connection with the Offering

The Company intends to use the net proceeds of the Offering for (a) the completion of an updated Feasibility Study for the Company's Shymanivske Iron Ore Project, (b) the completion of the Ukrainian TEO; (c) the completion of an Environmental and Social Impact Assessment, (d) commencement of the relocation and construction of a new Ukrainian military firing range and ammunition depot to secure access to land required for the Company's Shymanivske Iron Ore Project, and (e) working capital and general corporate purposes, all as described in more detail in the short form prospectus (the "Prospectus") of the Company dated July 16, 2021 and available on SEDAR at www.sedar.com.

Matt Simpson, Chief Executive Officer of the Company, said, "It is great to see such strong level of interest from institutional investors in the Offering and the Shymanivske Iron Ore Project as we continue to move the project forward towards construction."

This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the U.S. Securities Act or any applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. "United States" and "U.S. persons" shall have the meanings assigned to them in Regulation S under the U.S. Securities Act.

About Black Iron

Black Iron is an iron ore exploration and development company, advancing its 100% owned Shymanivske project located in Kryviy Rih, Ukraine. Full mineral resource details can be found in the NI 43-101 technical report entitled "Preliminary Economic Assessment of the Re-scoped Shymanivske Iron Ore Deposit" published in March 2020 with an effective date of November 21, 2017 (the "PEA") under the Company's profile on SEDAR at www.sedar.com. The Shymanivske project is surrounded by five other operating mines, including Metinvest and ArcelorMittal's iron ore complexes. The PEA is preliminary in nature, and it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the PEA will be realized. Please visit the Company's website at www.blackiron.com for more information.

For more information, please contact:

Matt Simpson
Chief Executive Officer
Black Iron Inc.
info@blackiron.com

Forward-Looking Information

This press release contains forward-looking information. Forward-looking information is based on what management believes to be reasonable assumptions, opinions and estimates of the date such statements are made based on information available to them at that time. Forward-looking information may include, but is not limited to, statements with respect to the intended use of proceedsof the Offering, the Company's ability to obtain final approval from the TSX and the Company's future plans. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the Company using any proceeds from the Offering in a manner other than as set out herein, the Company not being able to obtain final approval from the TSX with respect to the Offering, general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; other risks of the mining industry and the risks described in the annual information form of the Company and the Prospectus. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. The Company notes that mineral resources are not mineral reserves and do not have demonstrated economic viability.

SOURCE: Black Iron Inc.

View source version on accesswire.com:
https://www.accesswire.com/656453/Black-Iron-Announces-Closing-of-115-Million-Offering

Here are five stocks added to the Zacks Rank #1 (Strong Buy) List today:

APA Corporation APA: This explorer and producer of oil and gas with operations principally in the United States, Egypt and the United Kingdom and exploration activities offshore Suriname, has seen the Zacks Consensus Estimate for its current year earnings increasing 12% over the last 60 days.

APA Corporation Price and Consensus

APA Corporation price-consensus-chart | APA Corporation Quote

Marathon Oil Corporation MRO: This exploration and production company with extensive operations across Africa, Middle East, Europe and North America has seen the Zacks Consensus Estimate for its current year earnings increasing 45.9% over the last 60 days.

Marathon Oil Corporation Price and Consensus

Marathon Oil Corporation price-consensus-chart | Marathon Oil Corporation Quote

Vale S.A. VALE: This mining company engaged in the mining of iron ore and pellets has seen the Zacks Consensus Estimate for its current year earnings increasing 13.6% over the last 60 days.

VALE S.A. Price and Consensus

VALE S.A. price-consensus-chart | VALE S.A. Quote

Brookfield Asset Management Inc. BAM: This alternative asset manager and an investor in real assets has seen the Zacks Consensus Estimate for its current year earnings increasing 0.9% over the last 60 days.

Brookfield Asset Management Inc Price and Consensus

Brookfield Asset Management Inc price-consensus-chart | Brookfield Asset Management Inc Quote

Devon Energy Corporation DVN: This independent energy company engaged in finding and producing oil and natural gas has seen the Zacks Consensus Estimate for its current year earnings increasing 12.6% over the last 60 days.

Devon Energy Corporation Price and Consensus

Devon Energy Corporation price-consensus-chart | Devon Energy Corporation Quote

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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

Devon Energy Corporation (DVN) : Free Stock Analysis Report

Marathon Oil Corporation (MRO) : Free Stock Analysis Report

APA Corporation (APA) : Free Stock Analysis Report

VALE S.A. (VALE) : Free Stock Analysis Report

Brookfield Asset Management Inc (BAM) : Free Stock Analysis Report

To read this article on Zacks.com click here.

U.S. Silica Holdings, Inc. SLCA has announced that its Industrial and Specialty Products unit will increase prices for most of its non-contracted silica sand, diatomaceous earth and clay products that are used mainly in applications like glass, foundry, paints, coatings, elastomers, roofing, chemicals, recreation, building products, agricultural, pet litter and other applications.

The increase will be up to 15%, on the basis of the product and grade, with effect from shipments beginning Sep 1, 2021.

The increased prices are requisite to help balance significant cost increases in energy, transportation, materials and manufacturing costs.

Shares of U.S. Silica have skyrocketed 170.9% over a year, outperforming the industry’s rise of 26%. Its earnings growth rate for the current year is pegged at 54.2%.

Image Source: Zacks Investment Research

In its last-quarter earnings call, the company has predicted sustainable long-term growth for 2021 and beyond. It is focused on prioritizing free cash flow, repositioning its Oil & Gas segment and expanding the Industrial and Specialty Products segment.

The company expects The Industrial & Specialty Products segment growth to outpace U.S. GDP. It expects the contribution margin of the segment to increase 5-10% sequentially in the second quarter.

In the Oil & Gas segment, the company expects a strong energy recovery as economic activity rebounds and gains momentum. For the second quarter, the contribution margin is projected to increase 30-35%. The company plans to deliver positive cash flow in 2021 and deleverage its balance sheet.

U.S. Silica Holdings, Inc. Price and Consensus

U.S. Silica Holdings, Inc. price-consensus-chart | U.S. Silica Holdings, Inc. Quote

Zacks Rank & Stocks to Consider

Currently, U.S. Silica carries a Zacks Rank #3 (Hold).

Better-ranked stocks in the basic materials space include Glencore PLC GLNCY and Rio Tinto PLC RIO, each sporting a Zacks Rank #1 (Strong Buy), and BHP Group BHP, carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Glencore has a projected earnings growth rate of 296.7% for the current year. The company’s shares have appreciated 74.3% over a year.

Rio Tinto has a projected earnings growth rate of 124.3% for the current year. The company’s shares have rallied 28.5% over a year.

BHP has a projected earnings growth rate of 192.5% for the current year. The company’s shares have grown 35% over a year.

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

Rio Tinto PLC (RIO) : Free Stock Analysis Report

U.S. Silica Holdings, Inc. (SLCA) : Free Stock Analysis Report

Glencore PLC (GLNCY) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

Our extensive research has shown that imitating the smart money can generate significant returns for retail investors, which is why we track nearly 900 active prominent money managers and analyze their quarterly 13F filings. The stocks that are heavily bought by hedge funds historically outperformed the market, though there is no shortage of high profile failures like hedge funds' 2018 losses in Facebook and Apple. Let’s take a closer look at what the funds we track think about BHP Group (NYSE:BBL) in this article.

BHP Group (NYSE:BBL) was in 23 hedge funds' portfolios at the end of March. The all time high for this statistic is 24. BBL has experienced an increase in hedge fund interest lately. There were 18 hedge funds in our database with BBL holdings at the end of December. Our calculations also showed that BBL isn't among the 30 most popular stocks among hedge funds (click for Q1 rankings).

In the financial world there are a large number of tools investors have at their disposal to grade stocks. A pair of the most under-the-radar tools are hedge fund and insider trading indicators. We have shown that, historically, those who follow the top picks of the best fund managers can outperform the broader indices by a solid amount. Insider Monkey's monthly stock picks returned 206.8% since March 2017 and outperformed the S&P 500 ETFs by more than 115 percentage points (see the details here). That's why we believe hedge fund sentiment is a useful indicator that investors should pay attention to.

James Dinan of York Capital Management

At Insider Monkey, we scour multiple sources to uncover the next great investment idea. For example, Chuck Schumer recently stated that marijuana legalization will be a Senate priority. So, we are checking out this under the radar stock that will benefit from this. We go through lists like the 10 best battery stocks to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our homepage. Now we're going to take a gander at the fresh hedge fund action regarding BHP Group (NYSE:BBL).

Do Hedge Funds Think BBL Is A Good Stock To Buy Now?

Heading into the second quarter of 2021, a total of 23 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of 28% from the previous quarter. By comparison, 21 hedge funds held shares or bullish call options in BBL a year ago. With the smart money's positions undergoing their usual ebb and flow, there exists a select group of notable hedge fund managers who were upping their stakes substantially (or already accumulated large positions).

According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Fisher Asset Management, managed by Ken Fisher, holds the most valuable position in BHP Group (NYSE:BBL). Fisher Asset Management has a $413.5 million position in the stock, comprising 0.3% of its 13F portfolio. The second most bullish fund is Farallon Capital, with a $231.5 million position; 1.3% of its 13F portfolio is allocated to the stock. Some other professional money managers that are bullish encompass Peter Rathjens, Bruce Clarke and John Campbell's Arrowstreet Capital, D. E. Shaw's D E Shaw and Israel Englander's Millennium Management. In terms of the portfolio weights assigned to each position Sand Grove Capital Partners allocated the biggest weight to BHP Group (NYSE:BBL), around 3.04% of its 13F portfolio. York Capital Management is also relatively very bullish on the stock, setting aside 2.19 percent of its 13F equity portfolio to BBL.

As industrywide interest jumped, some big names were leading the bulls' herd. Farallon Capital, assembled the largest position in BHP Group (NYSE:BBL). Farallon Capital had $231.5 million invested in the company at the end of the quarter. Orkun Kilic's Berry Street Capital also made a $18.8 million investment in the stock during the quarter. The other funds with brand new BBL positions are James Dinan's York Capital Management, Louis Bacon's Moore Global Investments, and Frank Fu's CaaS Capital.

Let's also examine hedge fund activity in other stocks – not necessarily in the same industry as BHP Group (NYSE:BBL) but similarly valued. We will take a look at Morgan Stanley (NYSE:MS), SAP SE (NYSE:SAP), Amgen, Inc. (NASDAQ:AMGN), HDFC Bank Limited (NYSE:HDB), Bristol Myers Squibb Company (NYSE:BMY), Philip Morris International Inc. (NYSE:PM), and Shopify Inc (NYSE:SHOP). All of these stocks' market caps are closest to BBL's market cap.

[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position MS,79,5285168,13 SAP,19,1473996,5 AMGN,47,1001957,-2 HDB,27,1964796,-4 BMY,81,5037397,-50 PM,48,5494085,-4 SHOP,91,9984457,1 Average,56,4320265,-5.9 [/table]

View table here if you experience formatting issues.

As you can see these stocks had an average of 56 hedge funds with bullish positions and the average amount invested in these stocks was $4320 million. That figure was $1354 million in BBL's case. Shopify Inc (NYSE:SHOP) is the most popular stock in this table. On the other hand SAP SE (NYSE:SAP) is the least popular one with only 19 bullish hedge fund positions. BHP Group (NYSE:BBL) is not the least popular stock in this group but hedge fund interest is still below average. Our overall hedge fund sentiment score for BBL is 41.5. Stocks with higher number of hedge fund positions relative to other stocks as well as relative to their historical range receive a higher sentiment score. This is a slightly negative signal and we'd rather spend our time researching stocks that hedge funds are piling on. Our calculations showed that top 5 most popular stocks among hedge funds returned 95.8% in 2019 and 2020, and outperformed the S&P 500 ETF (SPY) by 40 percentage points. These stocks gained 23.8% in 2021 through July 16th and surpassed the market again by 7.7 percentage points. Unfortunately BBL wasn't nearly as popular as these 5 stocks (hedge fund sentiment was quite bearish); BBL investors were disappointed as the stock returned 5.7% since the end of March (through 7/16) and underperformed the market. If you are interested in investing in large cap stocks with huge upside potential, you should check out the top 5 most popular stocks among hedge funds as most of these stocks already outperformed the market in 2021.

Get real-time email alerts: Follow Bhp Group (NYSE:BBL)

Suggested Articles:

• 20 Short Dating Profile Examples for Males

• 25 Highest Earning Billionaires in 2020

• 20 largest european companies by market cap

Disclosure: None. This article was originally published at Insider Monkey.

Vale S.A.’s VALE iron ore production for the second quarter of 2021 was 75.7 million tons (Mt), which came in 12% higher than the year-ago quarter and 11.3% higher than the first quarter of 2021. The company’s 2021 iron ore production guidance of 315-335 million tons remains unchanged, but the nickel and copper outlook are under review, as labor stoppages at the Sudbury mine in Ontario and a flood at Voisey's Bay in Labrador hurt output.

The sequential improvement in iron ore production in the quarter was aided by higher volumes from Brucutu, improvement of weather-related conditions in Serra Norte and a strong performance in Serra Leste. Increased productivity in Itabira Complex, higher third-party purchase and wet processing production in Fábrica during the tests to resume beneficiation plant operations contributed to the improvement as well. These gains were partially offset by the interferences caused by the installation and commissioning of the first of four jaspilite crushers in S11D.

Vale’s pellet production was up 13.3% year over year and 27.4% sequentially to 8 Mt in the second quarter. Second-quarter sales volume of iron ore fines and pellets was 74.9 Mt, up 22% year on year and 14% from the first quarter of 2021.

Production of nickel declined 15.3% year over year to 41.5 kt in the June-ended quarter. Compared to the first quarter of 2021, nickel production was down 14.3% due to labor disruption at Sudbury and unscheduled maintenance in Clydach Nickel Refinery. Copper production was 73.5 kt in the quarter, down 13% year over year and 4% down from the first quarter of 2021. The drop in production was due to labor disruption in Sudbury and delays in mining at Voisey’s Bay, partially mitigated by a more robust performance in Salobo owing to the ramp-up of mine maintenance activities and better performance at Sossego operations.

Cobalt production reached 754 metric tons in the quarter, up 34.2% from the prior-year quarter and up 6% from the first quarter of 2021. Manganese ore production totaled 113 kt in the April-June period, 24.2% lower than the prior-year quarter due to adjustments in the mining plan to ensure the safety and sustainability of underground operations at the Urucum mine. On a year-over-year basis, production was up 24.2% primarily due to the end of the rainy season and improved performance at the beneficiation plant in Morro da Mina.

Coal production was 2.1 Mt in the second quarter, up 63% from the prior-year quarter and 92% higher than the year-ago quarter. This was mainly due to improved productivity after the major plant revamp concluded last quarter. The revamp removed important bottlenecks in the processing plants by increasing equipment availability and productivity. Gold production was down 15.8% year over year to 96,000 troy ounces in second-quarter 2021. Compared to the first quarter, gold production was up 11.6%.

Among other developments, Vale has resumed loading activities at ship loader 6 at the Ponta da Madeira Maritime Terminal, in São Luís, Maranhão, after five months of maintenance due to a fire in the equipment. The maintenance of ship loader 6, which involved the substitution of over 60% of its components, did not impact Ponta da Madeira Maritime Terminal’s monthly iron ore shipment schedule for the year.

Vale’s iron ore production guidance for 2021 remains at 315 to 335 Mt. The company stated that it has achieved a production capacity of 330 Mtpy. If sustained, this would allow for an average of 1 Mt per day production in the second half of 2021, due to better weather conditions in the period. Citing uncertainties concerning the labor situation in Ontario, and the ramp-up of the safety and maintenance process implementation in Sossego and Salobo, the company has placed the guidance for nickel and copper for the year under review.

The company’s efforts to improve productivity, introducing more high-quality ore in the market and cutting costs will drive margins. Investment in growth projects and efforts to lower debt will aid growth. Vale will also gain on the rally in iron ore prices this year. Iron ore prices have gained around 40% so far this year and are currently trending at around $220 per ton, fueled by high demand from China amid concerns over supply from the major iron producers. While Vale’s production in the second quarter has improved year on year, it lagged expectations of 78 Mt.

Last week, Rio Tinto plc RIO reported a 9% drop in second-quarter iron ore production to 75.9 Mt due to above average rainfall in the West Pilbara, shutdowns to enable replacement mines to be tied in, processing plant availability and cultural heritage management. Iron ore shipments in the second quarter of 2021 declined 12% year over year to 76.3 Mt. Due to this underperformance, Rio Tinto now expects to ship near the lower end of its range of its previous guidance of 325 Mt to 340 Mt in 2021.

BHP Group’s BHP iron ore production was down 2% year over year to 65.2 Mt in the April-June quarter. On a sequential basis, production improved 9% primarily due to improved performance at Western Australia Iron Ore (WAIO). The company anticipates producing between 249-259 Mt of iron ore in fiscal 2022.

Price Performance

Image Source: Zacks Investment Research

Shares of Vale have surged 86.3% in a year compared with the industry’s rally of 92.7%.

Zacks Rank & Another Stock to Consider

Vale currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Another top-ranked stock in the basic materials space is FreeportMcMoRan Inc. FCX. FreeportMcMoRan has a projected earnings growth rate of 475% for the current fiscal year. The company’s shares have soared 142% in the past year.

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

VALE S.A. (VALE) : Free Stock Analysis Report

FreeportMcMoRan Inc. (FCX) : Free Stock Analysis Report

BHP Group Limited Sponsored ADR (BHP) : Free Stock Analysis Report

Rio Tinto PLC (RIO) : Free Stock Analysis Report

To read this article on Zacks.com click here.

BHP Group BHP released production details for the year ended Jun 30, 2021 and provided guidance for fiscal 2022. Total iron ore production rose 2% to 254 Mt (million tons) in fiscal 2021 courtesy of record production at Western Australia Iron Ore (WAIO). The company met production guidance for iron ore, copper, metallurgical coal, nickel and energy coal. Petroleum production for the 2021 financial year was slightly above guidance.

Production Highlights

In the April-June quarter, BHP’s iron ore production was down 2% year over year to 65.2 Mt. On a sequential basis, production, however, improved 9% primarily due to enhanced performance at WAIO. Brazilian miner, Vale S.A. VALE, reported its iron ore production for the second quarter of 2021 at 75.7 Mt, which came in 12% higher than the year-ago quarter and 11.3% higher than the first quarter of 2021. Last week, Rio Tinto plc RIO reported a 9% drop in second-quarter iron ore production to 75.9 Mt due to above average rainfall in the West Pilbara.

For the year ended Jun 30, 2021, BHP’s total iron ore production improved 2% year over year to a record 253.5 Mt, within the company’s provided guidance of 245 Mt to 255 Mt. WAIO production was up 1% to a record 252 Mt reflecting record production at Jimblebar and Mining Area C, which included first ore from South Flank in May 2021. This performance was impressive considering weather impact, temporary rail labor shortages due to COVID-19 related border restrictions and the planned Mining Area C and South Flank major tie-in activity. Strong operational performance across the supply chain reflected continued improvements in car dumper performance and reliability, and train cycle times.

Total petroleum production was 102.8 MMboe (million barrels of oil equivalent) for the period under review, down 6% year over year. Total copper production was down 5% year over year to 1,635.7 kt in fiscal 2020. Metallurgical coal production dipped 1% to 40.6 Mt, while energy coal production was 19.3 Mt, down 17% year over year. Nickel production was up 11% year over year to 89 kt.

Average realized prices for iron ore, copper and nickel in fiscal 2021 surged 69%, 52% and 17% respectively. Average realized prices for metallurgical coal declined 19%, while of thermal coal rose 2%. Average realized prices for oil (crude and condensate) and Natural gas were up 6% and 8%, respectively, while LNG prices slumped 22%.

Fiscal 2022 Production Guidance

In fiscal 2022, BHP expects to produce between 249 and 259 Mt of iron ore compared with 253.5 Mt produced in fiscal 2021 as WAIO continues to focus on incremental volume growth through productivity improvements. The company’s petroleum production guidance for fiscal 2022 is expected to be 99-106 MMboe. BHP anticipates copper production between 1,590 kt and 1,760 kt in fiscal 2022. Production guidance of Metallurgical coal for fiscal 2022 is at 39-44 Mt, while the same for energy coal is at 13-15 Mt. Nickel production for fiscal 2022 is now expected between 85 kt and 95 kt.

Development Projects on Track

During fiscal 2021, BHP successfully achieved first production at four major development projects, all of which were delivered either on or ahead of schedule and also within budget. The Atlantis Phase 3 petroleum project and the Spence Growth Option copper project achieved first production in the first half of the financial year. During the fiscal fourth quarter, the South Flank iron ore sustaining project in Western Australia, and the Ruby oil and gas project in Trinidad and Tobago achieved first production.

As of Jun 31, 2021, the company had two major projects under development in petroleum (Mad Dog Phase 2) and potash (Jansen mine shafts), with both of these on track. The Jansen Stage 1 project in Canada remains on track for a go or no-go decision in the next two months.

On 28 Jun, 2021, BHP announced that it had signed a Sale and Purchase Agreement with Glencore PLC GLNCY to divest its 33.3 per cent interest in Cerrejón, a non-operated energy coal joint venture in Colombia, for $294 million cash consideration. The transaction is expected to be completed in the second half of fiscal 2022.

BHP’s efforts to make operations more efficient through smart technology adoption across the entire value chain will continue to aid in reducing costs, thereby boosting margins. Focus on lowering debt will fuel growth.

Price Performance

Image Source: Zacks Investment Research

Over the last year, BHP’s shares have gained 35.7%, compared with the industry’s rally of 22.6%.

Zacks Rank

BHP currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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

VALE S.A. (VALE) : Free Stock Analysis Report

Rio Tinto PLC (RIO) : Free Stock Analysis Report

Glencore PLC (GLNCY) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

Southern Copper (SCCO) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2021. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.

The earnings report might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus Estimate

This miner is expected to post quarterly earnings of $1.09 per share in its upcoming report, which represents a year-over-year change of +220.6%.

Revenues are expected to be $2.55 billion, up 42.6% from the year-ago quarter.

Estimate Revisions Trend

The consensus EPS estimate for the quarter has been revised 2.07% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings Whisper

Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model — the Zacks Earnings ESP (Expected Surprise Prediction) — has this insight at its core.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Southern Copper?

For Southern Copper, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -3.67%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination makes it difficult to conclusively predict that Southern Copper will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?

While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Southern Copper would post earnings of $0.89 per share when it actually produced earnings of $0.99, delivering a surprise of +11.24%.

Over the last four quarters, the company has beaten consensus EPS estimates four times.

Bottom Line

An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Southern Copper doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

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

Southern Copper Corporation (SCCO) : Free Stock Analysis Report

To read this article on Zacks.com click here.

TORONTO, July 20, 2021 (GLOBE NEWSWIRE) — Noront Resources Ltd. (TSXV: NOT) (“Noront” or the “Company”) announces that payment of interest in the amount of $371,700 for the second quarter of 2021 pursuant to a loan agreement between Noront and Wyloo Canada Holdings Pty Ltd. (“Wyloo”) dated February 26, 2013 (the “Loan Agreement”) will be satisfied by delivery of 1,111,945 common shares of the Company (the “Interest Shares”) at an effective price of $0.3343 per Interest Share. The Interest Shares will be subject to a four month hold period, expiring on November 21, 2021, and are subject to receipt of the final approval from the TSX Venture Exchange.

The calculation of the number of Interest Shares issued was based on the volume weighted average trading price of the common shares of the Company during the 20 trading days prior to June 30, 2021.

After giving effect to the issuance of the Interest Shares, there will be 458,268,304 common shares of the Company issued and outstanding.

About Noront Resources
Noront Resources Ltd. is focused on the development of its high-grade Eagle’s Nest nickel, copper, platinum and palladium deposit and the world class chromite deposits including Blackbird, Black Thor, and Big Daddy, all of which are located in the James Bay Lowlands of Ontario in an emerging metals camp known as the Ring of Fire. www.norontresources.com

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

For more information:

Greg Rieveley
greg.rieveley@norontresources.com
(416) 367-1444

For many investors, the main point of stock picking is to generate higher returns than the overall market. But its virtually certain that sometimes you will buy stocks that fall short of the market average returns. We regret to report that long term Western Areas Limited (ASX:WSA) shareholders have had that experience, with the share price dropping 34% in three years, versus a market return of about 32%. There was little comfort for shareholders in the last week as the price declined a further 1.7%.

View our latest analysis for Western Areas

Because Western Areas made a loss in the last twelve months, we think the market is probably more focussed on revenue and revenue growth, at least for now. When a company doesn't make profits, we'd generally expect to see good revenue growth. As you can imagine, fast revenue growth, when maintained, often leads to fast profit growth.

Over three years, Western Areas grew revenue at 9.4% per year. That's a fairly respectable growth rate. Shareholders have seen the share price fall at 10% per year, for three years. So the market has definitely lost some love for the stock. With revenue growing at a solid clip, now might be the time to focus on the possibility that it will have a brighter future.

You can see below how earnings and revenue have changed over time (discover the exact values by clicking on the image).

Western Areas is well known by investors, and plenty of clever analysts have tried to predict the future profit levels. You can see what analysts are predicting for Western Areas in this interactive graph of future profit estimates.

A Different Perspective

Western Areas shareholders are down 15% for the year, but the market itself is up 27%. Even the share prices of good stocks drop sometimes, but we want to see improvements in the fundamental metrics of a business, before getting too interested. Regrettably, last year's performance caps off a bad run, with the shareholders facing a total loss of 2% per year over five years. We realise that Baron Rothschild has said investors should "buy when there is blood on the streets", but we caution that investors should first be sure they are buying a high quality business. While it is well worth considering the different impacts that market conditions can have on the share price, there are other factors that are even more important. Consider for instance, the ever-present spectre of investment risk. We've identified 1 warning sign with Western Areas , and understanding them should be part of your investment process.

For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.

Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on AU exchanges.

This article by Simply Wall St is general in nature. 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.