Coal Archives - Page 2 of 44

CNX Resources Corporation. (CNX) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 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 stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on October 28. On the other hand, if they miss, the stock may move lower.

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

Zacks Consensus Estimate

This company is expected to post quarterly earnings of $0.31 per share in its upcoming report, which represents a year-over-year change of +675%.

Revenues are expected to be $432.28 million, up 554.2% from the year-ago quarter.

Estimate Revisions Trend

The consensus EPS estimate for the quarter has been revised 21.6% 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 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 CNX Resources Corporation.

For CNX Resources Corporation.The Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +8.40%.

On the other hand, the stock currently carries a Zacks Rank of #2.

So, this combination indicates that CNX Resources Corporation. Will most likely 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 CNX Resources Corporation. Would post earnings of $0.25 per share when it actually produced earnings of $0.18, delivering a surprise of -28%.

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

CNX Resources Corporation. Appears 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.

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CNX Resources Corporation. (CNX) : Free Stock Analysis Report

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While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.

Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.

On top of the Zacks Rank, investors can also look at our innovative Style Scores system to find stocks with specific traits. For example, value investors will want to focus on the "Value" category. Stocks with high Zacks Ranks and "A" grades for Value will be some of the highest-quality value stocks on the market today.

Albertsons Companies, Inc. (ACI) is a stock many investors are watching right now. ACI is currently sporting a Zacks Rank of #1 (Strong Buy) and an A for Value. The stock has a Forward P/E ratio of 12.83. This compares to its industry's average Forward P/E of 21.11. ACI's Forward P/E has been as high as 14.98 and as low as 5.35, with a median of 9.78, all within the past year.

We also note that ACI holds a PEG ratio of 1.07. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. ACI's PEG compares to its industry's average PEG of 1.74. Over the last 12 months, ACI's PEG has been as high as 1.25 and as low as 0.45, with a median of 0.82.

Finally, our model also underscores that ACI has a P/CF ratio of 7.32. This metric focuses on a firm's operating cash flow and is often used to find stocks that are undervalued based on the strength of their cash outlook. This stock's P/CF looks attractive against its industry's average P/CF of 13.95. Over the past 52 weeks, ACI's P/CF has been as high as 8.31 and as low as 2.15, with a median of 3.66.

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

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Albertsons Companies, Inc. (ACI) : Free Stock Analysis Report

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Zacks Investment Research

ST. LOUIS, Oct. 20, 2021 /PRNewswire/ — On Thursday, October 28, 2021, Peabody (NYSE: BTU) will announce results for the quarter ended September 30, 2021. A conference call with management is scheduled for 10 a.m. CT on Thursday, October 28, 2021.

The call, replay and other investor data will be available at PeabodyEnergy.com.

Participants may also access the call using the following phone numbers:

U.S. and Canada (888) 312-3049
Australia 1800 849 976
United Kingdom 0808 238 9907

For all other international participants, please contact Peabody Investor Relations at (314) 342-7900 prior to the call to receive your dial-in number.

Peabody (NYSE: BTU) is a leading coal producer, providing essential products to fuel baseload electricity for emerging and developed countries and create the steel needed to build foundational infrastructure. Our commitment to sustainability underpins our activities today and helps to shape our strategy for the future. For further information, visit PeabodyEnergy.com.

Contact:
Alice Tharenos
314.342.7900

Cision

View original content to download multimedia:https://www.prnewswire.com/news-releases/peabody-to-announce-results-for-the-quarter-ended-september-30-2021-301404113.html

SOURCE Peabody

(Bloomberg) — BHP Group, the world’s biggest mining company, has raised its offer for Noront Resources Ltd., trumping a bid from iron ore billionaire Andrew Forrest and securing the support of the Canadian nickel miner’s board.

Most Read from Bloomberg Businessweek

HOUSTON, October 20, 2021–(BUSINESS WIRE)–Natural Resource Partners L.P. (NYSE: NRP) plans to report its third quarter 2021 financial results before the market opens on Wednesday, November 3, 2021. Management will host a conference call beginning at 9:00 a.m. ET to discuss the results.

To register for the conference call please use this link: https://conferencingportals.com/event/kfJdSHYP. After registering, a confirmation will be sent via email and include dial in details and unique conference call codes for entry. Registration is open through the live call, however, to ensure you are connected for the full conference call we suggest registering a day in advance or at minimum 10 minutes before the start of the call. Investors may also listen to the conference call live via the Investor Relations section of the NRP website at www.nrplp.com.

Audio replays of the conference call will be available on the Investor Relations section of NRP’s website.

Company Profile

Natural Resource Partners L.P., a master limited partnership headquartered in Houston, TX, is a natural resource company that owns, manages and leases a diversified portfolio of mineral properties in the United States, including interests in coal, industrial minerals and other natural resources, and owns an equity investment in Ciner Wyoming, a trona/soda ash operation.

For additional information please contact Tiffany Sammis at 713-751-7515 or tsammis@nrplp.com. Further information about NRP is available on the partnership’s website at http://www.nrplp.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211020005934/en/

Contacts

Tiffany Sammis
713-751-7515
tsammis@nrplp.com

TORONTO, Oct. 20, 2021 (GLOBE NEWSWIRE) — (TSXV: TVC) Three Valley Copper Corp. (“Three Valley Copper” or the “Company”) has initiated a strategic review process to explore alternatives for the enhancement of shareholder value and the best way forward to maximize production and cash flows from its mining assets in Chile. The Company’s primary asset is its 91.1% owned Minera Tres Valles (“MTV”) property near Salamanca, Region de Coquimbo, Chile.

Strategic Review

The Company and its Board have initiated a strategic review process that encompasses an evaluation of the Company's development strategy, business plan, market valuation and capital structure and will consider numerous opportunities or alternatives for the Company. These considerations may include potential mergers, a strategic partner(s), acquisitions or dispositions, restructuring or refinancing of its long-term debt, and any other options identified with the fundamental objective of achieving the best value for the Company's shareholders.

The Company has retained PI Financial to review and evaluate potential alternatives that may further maximize value for Three Valley Copper’s shareholders. There can be no assurance that the Company's strategic review process will result in any transaction or investment.

Achieving the 2022 production profile at MTV through its ramp-up of Papomono Masivo (“PPM”) continues to be the Company’s main priority. The ramp-up will establish the foundation from which the mining operation at MTV can expand to full production. Following this, Three Valley Copper could recognize the associated operating benefits and further advance its exploration efforts. The Company’s current exploration program has been temporarily scaled back pending the strategic review process.

Revised 2022 Outlook and Guidance

The successful development of PPM continues to be the catalyst for the Company to maximize value of the MTV assets. The positive construction advances experienced over the prior two months are expected to continue at PPM. However, the management team at MTV has recently reviewed again its preliminary development and mining plans for PPM and has concluded the best way to improve the net economic value of PPM is to increase its capital expenditures in 2022 rather than defer some of these into the latter years of the mine life. Consequently, the Company is now forecasting that additional capital of approximately US$10 million in 2022 will be required to achieve the mine production guidance recently announced.

Previously, the Company had anticipated that copper production from the Don Gabriel open pit mine together with the recent drawdown of the remaining US$6 million of senior debt, which was completed in early September, would support current operations and its ongoing PPM construction project. The Don Gabriel mine has to date experienced lower head grades than forecasted. A number of remedial measures were introduced in the third quarter but the improved results in the mining operation will take a number of months to appear due to the workflow of a heap leach operation. As the Company’s primary source of ore to produce copper cathodes for 2021, the underperformance in Don Gabriel production has amplified the Company’s tight liquidity position with the loss of this revenue and is compounded by having a mostly fixed operating cost base, increased capital demands of the PPM 2022 development and scheduled debt repayments which are due to begin March 2022. The Company does not expect that it will generate sufficient cash from operations to fully fund 2021 continuing operations, planned investment activities and debt service obligations and the revised increased sustaining capital expenditures required in 2022 for PPM.

The Company is currently in discussions with its senior secured lenders and offtake provider and foresees a continuing successful partnership with them that may include a number of changes to its existing loan agreement, inter alia, bridge loan financing, waivers of operating covenants, deferrals of or renegotiation of repayment terms and/or renegotiation of the fixed price portion of the offtake agreement. At this time there can be no assurance that such actions will be granted by the senior lenders and/or offtake provider and the Company will continue to report on the progress of such discussions.

The Company has now updated its operating guidance below, which assumes a successful event from its strategic review and/or negotiations with its senior secured lenders that will provide the Company with sufficient liquidity to allow it to execute its production expansion at MTV as intended.

The Company’s revised preliminary operating outlook¹ for 2022 at MTV is as follows:

	Revised	Original
Operating information	Year Ended	Year Ended
Copper (MTV Operations)	Dec. 31, 2022	Dec. 31, 2022

Cu Production (tonnes)	8,000 – 10,000	8,000 – 10,000
Cu Production (pounds)	17.6M – 22.0M	17.6M – 22.0M
Cash Cost per Pound Produced²	$2.75 – $3.25	$2.75 – $3.25
Capital Expenditures³ ($ millions)	$15 – $20	$5 – $10

In the absence of a successful strategic review event and/or renegotiations with its senior secured lenders which will require financial liquidity solutions for MTV before the end of 2021, additional material changes to the Company’s revised preliminary outlook above will then be required.

Preliminary guidance is based on certain estimates and assumptions, including but not limited to, mineral reserve estimates, grade and continuity of interpreted geological formations, metallurgical performance and foreign exchange rates. Please refer to the amended and restated technical report prepared by Wood Independent Mining Consultants, Inc., in respect of the Minera Tres Valles Copper Project (the “Technical Report”) dated May 27, 2021 and to the Company’s SEDAR filings for complete risk factors related to the Company and MTV.
Cash Cost is a non-IFRS measure – Cash costs of production include all costs absorbed into inventory less non-cash items such as depreciation. Cash costs per pound produced are calculated by dividing the aggregate of the applicable costs by copper pounds produced.
Planned capital expenditures (“CAPEX”) for 2022 are focused primarily on open pit expansion, plant CAPEX and sustaining CAPEX of PPM for the inclined block-caving mining project. It is expected that by early 2022, the underground operation at PPM will begin production and the resulting production growth is expected to lower per unit operating costs in 2022 and 2023 as the results of this CAPEX are realized.

About Three Valley Copper

Three Valley Copper, headquartered in Toronto, Ontario, Canada is focused on growing copper production from, and further exploration of, its primary asset, Minera Tres Valles. Located in Salamanca, Chile, MTV is 91.1% owned by the Company and MTV's main assets are the Minera Tres Valles mining complex and its 46,000 hectares of exploratory lands. For more information about the Company, please visit www.threevalleycopper.com.

Cautionary Statement Regarding Forward-Looking Information

Certain statements in this news release, contain forward-looking information (collectively referred to herein as the "Forward-Looking Statements") within the meaning of applicable Canadian securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify Forward-Looking Statements. In particular, but without limiting the foregoing, this news release contains Forward-Looking Statements pertaining to: the significance of any particular exploration program or result and the Company’s expectations for current and future exploration plans including, but not limited to, planned areas of additional exploration; the estimation of mineral reserves; development progress of the Company’s mineral projects; statements with respect to the timing and production of copper at the Don Gabriel and PPM sites; planned capital and operating costs; advancement of ongoing projects, including the progress and timing of completion of the inclined block-caving mining project, and the estimated capital costs required for completion; future operating costs given the completion of the block -caving mining project; the expectation that the Company will continue to receive mineralized materials from ENAMI and third-party miners; and the status and timing of the arbitration process with the minority shareholder.

Although TVC believes that the Forward-Looking Statements are reasonable, they are not guarantees of future results, performance or achievements. A number of factors or assumptions have been used to develop the Forward-Looking Statements, including: there being no additional significant disruptions affecting the development and operation of MTV; the availability of certain consumables (including water) and services and the prices for power and other key supplies; expected labour and materials costs and available supply; expected fixed operating costs; permitting and arrangements with stakeholders; certain tax rates, including the allocation of certain tax attributes, being applicable to MTV; the availability of financing for the Company's and MTV’s planned operations and development activities; assumptions made in mineral resource and mineral reserve estimates and the financial analysis based on these estimates, including (as applicable), but not limited to, geological interpretation, grades, commodity price assumptions, metallurgical performance, extraction and mining recovery rates, hydrological and hydrogeological assumptions, capital and operating cost estimates, and general marketing, political, business and economic conditions, the continued availability of quality management, critical accounting estimates, all terms of the restructuring agreement and facility agreement to which MTV and the Company are parties will be satisfied in the future including no events of default, existing water supply will continue, supplemental water availability will continue, the geopolitical risk of Chile will remain stable, including risks related to labour disputes, the construction and expansion of mining operations including the Papomono Masivo incline block caving underground mining project, as well as the timing thereof and production therefrom; favorable outcomes of litigation and /or arbitration initiated by the minority shareholder of the Company’s operating subsidiary, MTV; the timing of production and results for the recently restarted Don Gabriel mine; and expected timelines for drawdown and repayment of indebtedness of MTV.

Actual results, performance or achievements could vary materially from those expressed or implied by the Forward-Looking Statements should assumptions underlying the Forward-Looking Statements prove incorrect or should one or more risks or other factors materialize, including: (i) possible variations in grade or recovery rates; (ii) copper price fluctuations and uncertainties; (iii) delays in obtaining governmental approvals or financing; (iv) risks associated with the mining industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of estimates and projections relating to mineral reserves, production, costs and expenses; and labour, health, safety and environmental risks) and risks associated with the other portfolio companies' industries in general; (v) performance of the counterparty to the ENAMI Contract; (vi) risks associated with investments in emerging markets; (vii) general economic, market and business conditions; (viii) market volatility that would affect the ability to enter or exit investments; (ix) failure of the strategic review to result in a strategic review event; (x) failure to secure additional financing in the future on acceptable terms to the Company, if at all; (xi) commodity price and foreign exchange fluctuations and uncertainties; (xii) risks associated with catastrophic events, manmade disasters, terrorist attacks, wars and other conflicts, or an outbreak of a public health pandemic or other public health crises, including COVID-19; (xiii) those risks disclosed under the heading "Risk Management" in TVC’s Management’s Discussion and Analysis for the period ended December 31, 2020; and (xiv) those risks disclosed under the heading "Risk Factors" or incorporated by reference into TVC’s Annual Information Form dated March 3, 2021. The Forward-Looking Statements speak only as of the date hereof, unless otherwise specifically noted, and SRHI does not assume any obligation to publicly update any Forward-Looking Statements, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable Canadian securities laws.

Cautionary Note to United States Investors Concerning Estimates of measured, indicated and inferred mineral resources

This news release may use the terms "measured", "indicated" and "inferred" mineral resources. Historically, while such terms were recognized and required by Canadian regulations, they were not recognized by the United States Securities and Exchange Commission (the “SEC”). The SEC has adopted amendments to its disclosure rules to modernize the mineral property disclosure requirements for issuers whose securities are registered with the SEC under the Securities and Exchange Act of 1934, as amended (the “Exchange Act”). These amendments became effective February 25, 2019 (the “SEC Modernization Rules”) with compliance required for the first fiscal year beginning on or after January 1, 2021. The SEC Modernization Rules replace the historical property disclosure requirements for mining registrants that were included in SEC Industry Guide 7, which will be rescinded from and after the required compliance date of the SEC Modernization Rules. As a result of the adoption of the SEC Modernization Rules, the SEC now recognizes estimates of “measured”, “indicated” and “inferred” mineral resources. In addition, the SEC has amended its definitions of “proven mineral reserves” and “probable mineral reserves” to be substantially similar to the corresponding Canadian Institute of Mining, Metallurgy and Petroleum definitions, as required by NI 43-101. Investors are cautioned that "Inferred mineral resources" have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or other economic studies. United States investors are cautioned not to assume that all or any part of measured or indicated mineral resources will ever be converted into mineral reserves. United States investors are also cautioned not to assume that all or any part of an inferred mineral resource exists or is economically or legally mineable.

For further information:

Michael Staresinic
Chief Executive Officer
T: (416) 943-7107
E: mstaresinic@threevalleycopper.com

Renmark Financial Communications Inc.
Joshua Lavers: jlavers@renmarkfinancial.com
T: (416) 644-2020 or (212) 812-7680
www.renmarkfinancial.com

Source: Three Valley Copper.

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 news release.

The official, who joined the St. Louis coal producer in 2000, will stay on temporarily as a senior adviser “to promote a smooth transition of leadership.”

VANCOUVER, British Columbia, Oct. 19, 2021 (GLOBE NEWSWIRE) — Canasil Resources Inc. (TSX-V: CLZ, DB Frankfurt: 3CC, “Canasil” or the “Company”) announces a non-brokered private placement (the “Placement”) of up to 4,000,000 units (the Units”) at a price of $0.125 per Unit for total gross proceeds of up to $500,000 to fund drill programs on the Company’s silver-gold projects in Durango and Zacatecas States, Mexico. A finder’s fee may be paid with respect to all or part of this Placement. The terms of the Placement are subject to acceptance by the TSX Venture Exchange.

Each Unit will consist of one common share of the Company and one half of one non-transferable share purchase warrant. Each whole warrant (a “Warrant”) will be exercisable to purchase one additional common share of the Company at a price of $0.20 during the first year, increasing to $0.25 in year two following the closing of the offering.

The proceeds of the Placement will be used to fund continued drill programs on the Company’s silver-gold exploration projects in Durango and Zacatecas States, Mexico, and for working capital.

About Canasil:

Canasil is a Canadian mineral exploration company with a strong portfolio of 100% owned silver-gold-copper-lead-zinc exploration projects in Durango and Zacatecas States, Mexico, and in British Columbia, Canada. The Company’s directors and management include industry professionals with a track record of identifying and advancing successful mineral exploration projects through to discovery and further development. The Company is actively engaged in the exploration of its mineral properties, and maintains an operating subsidiary in Durango, Mexico, with full time geological and support staff for its operations in Mexico.

For further information please contact:

Bahman Yamini
President and C.E.O.
Canasil Resources Inc.
Tel: (604) 709-0109
www.canasil.com

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 news release.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

American food and drug retailer Albertsons Companies, Inc. (ACI) delivered better-than-expected second-quarter results and lifted its full-year Fiscal 2021 guidance. Following the news, shares jumped 3.5% to close at $29.51 on October 18.

The company reported adjusted earnings of $0.64 per share, up 6.7% year-over-year, and significantly beat analyst estimates of $0.44 per share.

To add to that, total sales climbed 4.7% year-over-year to $16.5 billion and also outpaced Street estimates of $15.72 billion. Also, identical sales grew 1.5%, and digital sales jumped 5% year-over-year.

Commenting on the results, Vivek Sankaran, CEO of Albertsons, said, “The favorable consumer backdrop together with our focus on in-store excellence, accelerating our digital and omnichannel capabilities, increasing productivity and strengthening our talent and culture, are driving increased identical sales and improved performance.”

Furthermore, Albertsons declared a 20% hike to its quarterly common dividend to $0.12 per common share. The dividend will be paid on November 12 to shareholders of record on October 29. (See Insiders’ Hot Stocks on TipRanks)

Based on the strong quarterly performance, Albertsons lifted its Fiscal 2021 outlook. ACI now forecasts adjusted earnings to fall in the range of $2.50 – $2.60 per share, much higher than the consensus estimate of $2.28 per share.

Recently, Evercore ISI analyst Michael Montani downgraded the stock to a Hold from a Buy while assigning a price target of $30, implying 1.7% upside potential to current levels.

The analyst said, “The supply chain is stretched for the industry, yet freight and product availability should be manageable headwinds, in our view. ACI has been an outperformer up 54% year to date, yet it is down 20% from recent highs with two downgrades in the past week lowering the bar into earnings.”

Overall, the stock has a Hold consensus rating based on 3 Buys, 6 Holds, and 2 Sells. The average Albertsons price target of $29.10 implies 1.4% downside potential to current levels. Shares have gained 105.2% over the past year.

What Does The Institutional Ownership Tell Us About BHP Group?

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

BHP Group already has institutions on the share registry. Indeed, they own a respectable stake in the company. This can indicate that the company has a certain degree of credibility in the investment community. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. They too, get it wrong sometimes. 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 BHP Group, (below). Of course, keep in mind that there are other factors to consider, too.

Institutional investors own over 50% of the company, so together than can probably strongly influence board decisions. Hedge funds don't have many shares in BHP Group. Our data shows that BlackRock, Inc. is the largest shareholder with 6.9% of shares outstanding. The Vanguard Group, Inc. is the second largest shareholder owning 5.1% of common stock, and Norges Bank Investment Management holds about 4.2% of the company stock.

Our studies suggest that the top 25 shareholders collectively control less than half of the company's shares, meaning that the company's shares are widely disseminated and there is no dominant shareholder.

While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. There are a reasonable number of analysts covering the stock, so it might be useful to find out their aggregate view on the future.

Insider Ownership Of BHP Group

The definition of company insiders can be subjective and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it.

Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances.

Our data suggests that insiders own under 1% of BHP Group in their own names. As it is a large company, we'd only expect insiders to own a small percentage of it. But it's worth noting that they own AU$65m worth of shares. In this sort of situation, it can be more interesting to see if those insiders have been buying or selling.

General Public Ownership

The general public holds a 47% stake in BHP Group. While this group can't necessarily call the shots, it can certainly have a real influence on how the company is run.

Next Steps:

While it is well worth considering the different groups that own a company, there are other factors that are even more important. Consider for instance, the ever-present spectre of investment risk. We've identified 4 warning signs with BHP Group (at least 1 which makes us a bit uncomfortable) , and understanding them should be part of your investment process.

If you would prefer discover what analysts are predicting in terms of future growth, do not miss this free report on analyst forecasts.

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

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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

Albertsons Companies, Inc. ACI was up 3.3% during the trading session on Oct 18 owing to robust second-quarter fiscal 2021 results. The company’s top- and bottom-line metrics reflected year-over-year growth as well as surpassed the Zacks Consensus Estimate.

Results benefited from strong identical sales as well as digital revenues. Management highlighted that favorable consumer backdrop along with the company’s focus on providing efficient in-store services, strong digital and omni-channel capabilities as well as efforts to boost productivity favored growth in identical sales. The company saw strong traffic trends across stores as vaccinations have propelled consumers to comfortably spend more time outdoors. The company’s transformation strategy is also on track.

Backed by the strong performance and overall business strength, management announced a hike in its quarterly dividend. The company also provided an update on its fiscal 2021 view.

Shares of this Zacks Rank #2 (Buy) company have surged 42.8% in the past three months against the industry’s decline of 8.4%.

Image Source: Zacks Investment Research

Results in Detail

Adjusted earnings came in at 64 cents per share rising from 60 cents in the prior-year quarter. The bottom line also surpassed the Zacks Consensus Estimate of 45 cents.

Albertsons’ net sales and other revenues during the second quarter came in at $16,505.7 million, increasing 4.7% year over year. The top line surpassed the Zacks Consensus Estimate of $16,088 million. The upside was driven by a 1.5% rise in the company’s identical sales as well as higher fuel sales. On a two-year stacked basis, the company’s identical sales were up 15.3%. Digital sales were up 5% year on year, while the same surged 248% on a two-year stacked basis.

Gross profit amounted to $4,717 million, up 3.1% year on year. Gross profit margin contracted 40 basis points (bps) to 28.6%. Excluding fuel, gross profit margin was flat year on year due to increased product, supply chain and advertising costs, offset by gains from productivity initiatives, favorable product mix and improved pharmacy margins stemming from administering COVID-19 vaccines.

Selling and administrative expenses were up nearly 5% year on year to reach $4,231.3 million. As a percentage of sales, selling and administrative expenses remained flat year on year at 25.6%. Excluding the impact of fuel, selling and administrative expenses, as a percentage of sales, rose 55 bps. Rise in selling and administrative expenses was caused by employee costs, depreciation and expenses related to strategic growth investments. Employee costs were mainly driven by higher labor expenses due to reopening of fresh departments, market-driven wage rate increases and higher equity-based compensation expenses.

Adjusted EBITDA increased 1.8% to $965.4 million. The upside was backed by higher sales and improved sales, partly offset by rise in selling and administrative expenses. Adjusted EBITDA accounted for 5.8% of sales, down from 6% in the prior-year quarter.

Albertsons Companies, Inc. Price, Consensus and EPS Surprise

Albertsons Companies, Inc. price-consensus-eps-surprise-chart | Albertsons Companies, Inc. Quote

Other Financial Details

Albertsons ended the quarter with cash and cash equivalents of $2,849.8 million, as of Sep 11, 2021. Long-term debt and finance lease obligations amounted to $8,129.1 million, while total shareholders’ equity amounted to $1,959.9 million.

For the 28-week period ended Sep 11, net cash from operating activities was $2,137.7 million. Capital expenditures during this period were nearly $822.5 million, including investments toward digital and technological growth endeavors as well as the opening of six new stores and remodeling of 76 stores. Management continues to expect capital expenditures for fiscal 2021 between $1.9 billion and $2 billion.

During the second quarter, the company paid out its quarterly dividend of 10 cents per share on Aug 10, 2021 to shareholders on record as on Jul 26.

In a separate release, the company announced a 20% hike in its quarterly dividend to reach 12 cents per share. The raised dividend is payable on Nov 12, 2021, to shareholders on record as on Oct 29, 2021. Management highlighted that the company was able to raise the dividend mainly due to balanced capital allocation efforts and overall strength in the business.

Guidance

For fiscal 2021, management expects identical sales to decline in the range of 2.5-3.5%. Previously, the company had anticipated sales to decline in the bracket of 5-6%. On a two-year stacked basis, identical sales are expected to rise 13.4-14.4% compared with growth of 10.9-11.9% anticipated earlier.

Adjusted earnings are anticipated in the range of $2.50-$2.60 per share compared with the earlier view of $2.20-$2.30. In the prior year, the company reported adjusted earnings of $3.24. The Zacks Consensus Estimate for earnings is currently pegged at $2.34 for fiscal 2021.

The company expects adjusted EBITDA in the range of $3.95-$4.05 billion compared with the prior view of $3.7-$3.8 billion.

Check These Solid Consumer Staples Stocks

J & J Snack Foods Corp. JJSF, flaunting a Zacks Rank #1 (Strong Buy), delivered an earnings surprise of 200.4% in the last four quarters, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.

United Natural Foods, Inc. UNFI has a trailing four-quarter earnings surprise of 13.1%, on average. It sports a Zacks Rank #1.

General Mills, Inc. GIS, with a Zacks Rank #2, has a long-term earnings growth rate of 7.5%.

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General Mills, Inc. (GIS) : Free Stock Analysis Report

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Zacks Investment Research

(Rewrites with background on deal)

Oct 20 (Reuters) – BHP Group on Wednesday topped a takeover offer for Canadian nickel miner Noront Resources by billionaire Andrew Forrest's Wyloo Metals earlier this week, as the two miners vie for the key battery metal used in electric vehicles (EVs).

The months-long takeover battle highlights the efforts miners are taking to secure supply of key battery metals ahead of an expected EV boom as the world looks to cut emissions.

BHP increased its offer to C$419.3 million ($339.10 million), or C$0.75 per share, bettering the C$0.70 per-share proposal from Wyloo that Noront backed on Monday and giving shareholders of the Canadian firm 22 days to accept.

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

Wyloo, Noront's top shareholder, did not immediately respond to a request for comment.

BHP, the world's biggest miner, said while it had Noront's backing for its improved offer, it did not require it and only needed 50% of shares to vote in favour.

Noront also did not respond immediately to a request for comment.

Wyloo had lifted its offer from C$0.315 per share to top a C$0.55 proposal made by BHP in July.

($1 = 1.2365 Canadian dollars) (Reporting by Nikhil Kurian Nainan and Savyata Mishra in Bengaluru; Editing by Aditya Soni and Subhranshu Sahu)

Gainers

HCW Biologics Inc. (NASDAQ: HCWB) surged 31% to $3.75.
Kaival Brands Innovations Group, Inc. (NASDAQ: KAVL) jumped 28.9% to $2.0750 after surging 18% on Monday. Kaival Brands Innovations recently announced plans to launch distribution of its products in the U.K.
Full Truck Alliance Co. Ltd. (NYSE: YMM) rose 15% to $16.54.
iQIYI, Inc. (NASDAQ: IQ) shares gained 13.5% to $9.65.
InflaRx N.V. (NASDAQ: IFRX) shares climbed 13.2% to $2.7387 after the company announced it was awarded an up to roughly $50.7 million grant by the German government to advance the development of vilobelimab for the treatment of severe COVID-19.
Harmony Biosciences Holdings, Inc. (NASDAQ: HRMY) gained 12.8% to $42.89 after it was announced the company will replace Retail Properties of America in the S&P SmallCap 600.
Ginkgo Bioworks Holdings, Inc. (NYSE: DNA) surged 12.2% to $13.83.
AlloVir, Inc. (NASDAQ: ALVR) jumped 11.6% to $23.30.
Socket Mobile, Inc. (NASDAQ: SCKT) rose 11.3% to $8.30.
Prelude Therapeutics Incorporated (NASDAQ: PRLD) climbed 11.2% to $17.48.
ViewRay, Inc. (NASDAQ: VRAY) gained 11% to $6.62.
X Financial (NYSE: XYF) surged 10.5% to $4.9650.
Skylight Health Group Inc. (NASDAQ: SLHG) gained 10.5% to $3.4046.
Youdao, Inc. (NYSE: DAO) gained 9.6% to $13.14.
Athene Holding Ltd. (NYSE: ATH) jumped 9.5% to $84.09.
Zix Corporation (NASDAQ: ZIXI) rose 6% to $8.12 after Reuters reported that the company is exploring a sale.

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Losers

Galera Therapeutics, Inc. (NASDAQ: GRTX) shares dipped 68.1% to $2.3592 in reaction to disappointing data from the Phase 3 ROMAN trial of avasopasem manganese in severe oral mucositis (SOM) patients with locally advanced head and neck cancer (HNC) undergoing standard-of-care radiotherapy.
Atea Pharmaceuticals, Inc. (NASDAQ: AVIR) fell 62% to $15.451 after the company reported data from the Phase 2 MOONSONG trial of AT-527 in the outpatient setting in patients with mild or moderate COVID-19. The trial did not meet the primary endpoint of clear reduction in SARS-CoV-2 viral load in the overall population compared to placebo.
Peabody Energy Corporation (NYSE: BTU) dipped 17% to $16.34. Peabody recently said it sees preliminary Q3 sales of $670 million to $690 million.
Windtree Therapeutics, Inc. (NASDAQ: WINT) fell 16% to $1.89.
EverQuote, Inc. (NASDAQ: EVER) dropped 16% to $14.56 after the company cut third-quarter sales guidance below estimates.
Aerovate Therapeutics, Inc. (NASDAQ: AVTE) declined 13.4% to $14.62.
Communications Systems, Inc. (NASDAQ: JCS) dropped 12.7% to $4.4650.
Zymergen Inc. (NASDAQ: ZY) fell 12.3% to $11.07.
TaskUs, Inc. (NASDAQ: TASK) fell 12.3% to $63.95 after the company announced the launch of a secondary offering of 10 million shares of Class A common stock.
CONSOL Energy Inc. (NYSE: CEIX) dipped 11.8% to $31.49.
Remitly Global, Inc. (NASDAQ: RELY) fell 11% to $36.02.
Oyster Point Pharma, Inc. (NASDAQ: OYST) fell 10.5% to $12.41. The FDA recently approved Oyster Point Pharma Tyrvaya (varenicline solution) Nasal Spray 0.03 mg for signs and symptoms of dry eye disease.
Valneva SE (NASDAQ: VALN) shares fell 10.4% to $35.12. Valneva shares jumped around 40% on Monday after the company reported VLA2001 met both co-primary endpoints in the Phase 3 pivotal trial Cov-Compare.
DLocal Limited (NASDAQ: DLO) dropped 10% to $54.53 after the company announced a proposed secondary offering and issued Q3 preliminary results.
ESS Tech, Inc. (NYSE: GWH) fell 8.6% to $17.05.
Aehr Test Systems (NASDAQ: AEHR) dropped 7.8% to $20.25.
Tata Motors Limited (NYSE: TTM) shares fell 5.7% to $31.86. Tata Motors recently raised $1 billion in investments from TPG Rise Climate and ADQ for its Passenger Electric Vehicle business. The company also reported a year-over-year increase in global wholesales.

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Gainers

Valneva SE (NASDAQ: VALN) shares surged 39.8% to close at $39.21 on Monday after the company reported VLA2001 met both co-primary endpoints in the Phase 3 pivotal trial Cov-Compare.
Progenity, Inc. (NASDAQ: PROG) rose 39.7% to close at $2.99. Benzinga recently highlighted stock as a top 5 short squeeze candidate.
MeiraGTx Holdings plc (NASDAQ: MGTX) jumped 30% to close at $18.56.
Evolving Systems, Inc (NASDAQ: EVOL) jumped 24.1% to settle at $2.78 after the company announced it will sell its activation and marketing businesses to PartnerOne Capital for $40 million.
Peabody Energy Corporation (NYSE: BTU) jumped 23.2% to settle at $19.66. Peabody said it sees preliminary Q3 sales of $670 million to $690 million.
Versus Systems Inc. (NASDAQ: VS) gained 21.2% to close at $4.00 after the company earlier announced it has surpassed 10 million viewers across all platforms since Jul. 1.
EuroDry Ltd. (NASDAQ: EDRY) jumped 20.1% to settle at $30.50.
Aerovate Therapeutics, Inc. (NASDAQ: AVTE) shares gained 19.5% to close at $16.89 after declining around 19% on Friday.
Independence Contract Drilling, Inc. (NYSE: ICD) rose 19.5% to close at $5.45.
FuelCell Energy, Inc. (NASDAQ: FCEL) shares climbed 18.3% to settle at $8.74.
Macy's, Inc. (NYSE: M) climbed 17.5% to close at $28.25. Jana Partners LLC, an activist investment firm founded by hedge fund executive Barry Rosenstein, has taken a stake in Macy’s and has called on the company’s leadership to spin off its e-commerce operations.
Agile Therapeutics, Inc. (NASDAQ: AGRX) climbed 16.7% to close at $0.8871. The company said Executive Edelman Joseph bought 8.42 million shares at average price of $0.58.
Horizon Global Corporation (NYSE: HZN) gained 16.5% to settle at $8.34.
Huadi International Group Co., Ltd. (NASDAQ: HUDI) surged 16.3% to close at $8.49.
Lightbridge Corporation (NASDAQ: LTBR) gained 15.1% to settle at $7.23.
Lightbridge recently received notice of acceptance for key patent in Australia.
TORM plc (NASDAQ: TRMD) rose 14.4% to close at $9.22.
LM Funding America, Inc. (NASDAQ: LMFA) climbed 13.5% to settle at $5.39. LM Funding priced 6,315,780 unit offering at $4.75 per unit.
Amplitude, Inc. (NASDAQ: AMPL) gained 13.4% to close at $63.52.
Xiaobai Maimai Inc. (NASDAQ: HX) surged 13.1% to settle at $6.67.
BTCS Inc. (NASDAQ: BTCS) gained 13% to close at $6.68.
TaskUs, Inc. (NASDAQ: TASK) shares jumped 12.6% to settle at $72.92. TaskUs, after the closing bell, announced the launch of a secondary offering of 10 million shares of Class A common stock.
Greenpro Capital Corp. (NASDAQ: GRNQ) gained 11.8% to close at $0.9994 after jumping around 19% on Friday.
DoubleVerify Holdings, Inc. (NYSE: DV) rose 11.3% to close at $35.36. Barclays maintained DoubleVerify with an Equal-Weight and lowered the price target from $42 to $37.
Ardmore Shipping Corporation (NYSE: ASC) rose 10.6% to settle at $4.29.
InMed Pharmaceuticals Inc. (NASDAQ: INM) shares gained 9.3% to close at $1.53. InMed Pharmaceuticals recently announced completion of BayMedica acquisition.
MoneyLion Inc. (NYSE: ML) climbed 9.3% to settle at $6.56.
Riot Blockchain, Inc. (NASDAQ: RIOT) rose 7% to close at $29.80 amid a weekend increase in the price of Bitcoin.

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Losers

Revance Therapeutics, Inc. (NASDAQ: RVNC) shares tumbled 39.2% to close at $13.81 on Monday. The FDA issued a Complete Response Letter (CRL) regarding Revance Therapeutics’ marketing application for DaxibotulinumtoxinA for Injection for moderate to severe glabellar (frown) lines.
Omeros Corporation (NASDAQ: OMER) fell 26.7% to close at $5.67 after the company announced it received a Complete Response Letter from the FDA for the Biologics License Application for narsoplimab in the treatment of HSCT-TMA.
Nxt-ID, Inc. (NASDAQ: NXTD) fell 20.9% to close at $3.13.
Jasper Therapeutics, Inc. (NASDAQ: JSPR) dipped 18.7% to settle at $13.35 as the stock pulled back following last week's strength.
MannKind Corporation (NASDAQ: MNKD) fell 18.3% to close at $4.16 after the company announced the FDA issued a complete response to United Therapeutics regarding the New Drug Application for Tyvaso DPI.
NextPlay Technologies, Inc. (NASDAQ: NXTP) dipped 16.9% to settle at $2.61.
NextPlay Technologies’ co-CEO purchased 1.99 million shares at average price of $2 per share.
Guardforce AI Co., Limited (NASDAQ: GFAI) dropped 16.4% to close at $2.90.
Kala Pharmaceuticals, Inc. (NASDAQ: KALA) fell 16.3% to close at $1.85.
Phathom Pharmaceuticals, Inc. (NASDAQ: PHAT) fell 16.2% to close at $27.26. Phathom Pharmaceuticals announced data from the PHALCON-EE Phase 3 trial evaluating vonoprazan versus lansoprazole for erosive esophagitis (EE).
Cullinan Oncology, Inc. (NASDAQ: CGEM) fell 15.5% to close at $21.12. Cullinan Oncology named Nadim Ahmed as Chief Executive Officer.
Avadel Pharmaceuticals plc (NASDAQ: AVDL) dipped 15.4% to settle at $8.45. Avadel Pharmaceuticals reported ongoing FDA review of NDA for FT218 for patients with narcolepsy.
Latch, Inc. (NASDAQ: LTCH) declined 14.7% to close at $9.31. Goldman Sachs downgraded Latch from Buy to Neutral and lowered the price target from $16 to $10.
NACCO Industries, Inc. (NYSE: NC) fell 14.2% to settle at $32.99.
Renovacor, Inc. (NYSE: RCOR) dropped 13.9% to close at $6.99.
Ionis Pharmaceuticals, Inc. (NASDAQ: IONS) fell 13.8% to close at $30.25. Ionis Pharmaceuticals recently highlighted topline results from its tofersen Phase 3 study and its open label extension in SOD1-ALS at the American Neurological Association Meeting.
Enzo Biochem, Inc. (NYSE: ENZ) dipped 12.4% to settle at $3.31. Enzo Biochem recently reported fourth-quarter FY21 revenue growth of 27% year-on-year to $24.8 million.
Zillow Group, Inc. (NASDAQ: Z) shares fell 9.5% to close at $86.00. After buying more than 3,800 homes in the second quarter, Zillow Group has announced that it will make no further purchases for the rest of the year, according to a report from Bloomberg.
Salem Media Group, Inc. (NASDAQ: SALM) fell 6.9% to settle at $3.25.
Flywire Corporation (NASDAQ: FLYW) fell 6.7% to close at $48.37.

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For Immediate Release

Chicago, IL – October 19, 2021 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Range Resources Corporation RRC, Comstock Resources, Inc. CRK, EQT Corporation EQT, CNX Resources Corporation CNX and Cheniere Energy, Inc. LNG.

Here are highlights from Monday’s Analyst Blog:

Natural Gas: Price Falls but Fundamentals Remain Bullish

The U.S. Energy Department's weekly inventory release showed a lower-than-expected increase in natural gas supplies. Despite the positive inventory numbers, a bearish turn in weather forecasts sparked a pullback in the commodity. But relatively low stockpile levels and continued strong liquefied natural gas (“LNG”) feedgas deliveries suggest that the fuel’s prices will remain favorable in the short and medium terms.

EIA Reports a Build Smaller Than Market Expectations

Stockpiles held in underground storage in the lower 48 states rose by 81 billion cubic feet (Bcf) for the week ended Oct 8 compared to the 89 Bcf addition guidance, per the analysts surveyed by S&P Global Platts. But the increase was above the five-year (2016-2020) average net build of 79 Bcf and last year’s addition of 50 Bcf for the same corresponding week.

The latest injection puts total natural gas stocks at 3,369 billion cubic feet (Bcf), which is 501 Bcf (12.9%) below the 2020 level at this time and 174 Bcf (4.9%) lower than the five-year average.

The total supply of natural gas averaged 97.8 Bcf per day, essentially unchanged on a weekly basis as higher dry production was offset by lower shipments from Canada.

Meanwhile, daily consumption rose 1.3% to 84.7 Bcf from 83.6 Bcf in the previous week, primarily due to stronger demand from the residential/commercial sector and increased LNG deliveries, partly canceled by a lower power burn.

Natural Gas Registers a Weekly Decline

Natural gas prices trended downward last week despite the lower-than-expected inventory build. Futures for November delivery ended Friday at $5.41 on the New York Mercantile Exchange, falling 2.8% from the previous week’s closing. The decrease in natural gas realization is the result of a mild weather outlook and the subsequent lull in heating/cooling demand.

Wrap-Up

As is the norm with natural gas, changes in temperature and weather forecasts can lead to price swings. The latest models are anticipating moderate temperature-driven consumption, after which prices have gone down. Nevertheless, the commodity’s medium-term outlook continues to be favorable.

For starters, the low stockpile levels — well below normal for this time of the year — have been supporting the price of the energy commodity with the apprehension that the market might enter the winter withdrawal season with a supply shortage.

Secondly, LNG shipments for export from the United States have been robust for months on the back of environmental reasons and record higher prices of the super-chilled fuel elsewhere. Most analysts believe that deliveries appear poised for further gains this year on surging consumption in Europe and Asia, especially as we head into winter. The circumstances are particularly dire in Europe where gas supply is running low with the need for a steady refill from the United States ahead of the heating season.

Consequently, the scenario for the primary U.S. power plant fuel is expected to be healthy. In fact, natural gas recently topped $6 MMBtu for the first time since 2014 and reached a 13-year high settlement of $6.312 earlier this month. As a matter of fact, prices have more than doubled year to date and a staggering 270% from the 25-year lows in June 2020.

Final Words

Overall, given natural gas’ fundamental set-up, prices might ease occasionally but should generally stay strong. The upward trend should aid gas-weighted producers Range Resources, Comstock Resources, EQT Corporation and CNX Resources, while LNG exporter Cheniere Energy is also primed for growth. SilverBow, Goodrich, Range and Comstock sport a Zacks Rank #1 (Strong Buy), while EQT, CNX and Cheniere carry a Zacks Rank #2 (Buy).

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

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Zacks Investment Research

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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.

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Cheniere Energy, Inc. (LNG) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Here are four stocks with buy ranks and strong growth characteristics for investors to consider today, October 19th:

Albertsons Companies, Inc. ACI: This company that engages in the operation of food and drug stores carries a Zacks Rank #1 (Strong Buy), has witnessed the Zacks Consensus Estimate for its current year earnings increasing 3.1% over the last 60 days.

Albertsons Companies, Inc. Price and Consensus

Albertsons Companies, Inc. price-consensus-chart | Albertsons Companies, Inc. Quote

Albertsons Companies has a PEG ratio of 1.05 compared with 3.57 for the industry. The company possesses a Growth Score of A.

Albertsons Companies, Inc. PEG Ratio (TTM)

Albertsons Companies, Inc. peg-ratio-ttm | Albertsons Companies, Inc. Quote

Jabil Inc. JBL: This company that provides manufacturing services and solution carries a Zacks Rank #1, has witnessed the Zacks Consensus Estimate for its current year earnings increasing 6.4% over the last 60 days.

Jabil, Inc. Price and Consensus

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

Jabil has a PEG ratio of 0.82, compared with 1.05 for the industry. The company possesses a Growth Score of A.

Jabil, Inc. PEG Ratio (TTM)

Jabil, Inc. peg-ratio-ttm | Jabil, Inc. Quote

HP Inc. HPQ: This company that provides personal computing and other access devices, imaging and printing products, and related technologies, solutions, and services carries a Zacks Rank #1, has witnessed the Zacks Consensus Estimate for its current year earnings increasing 6.9% over the last 60 days.

HP Inc. Price and Consensus

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

HP has a PEG ratio of 0.93, compared with 2.04 for the industry. The company possesses a Growth Score of B.

HP Inc. PEG Ratio (TTM)

HP Inc. peg-ratio-ttm | HP Inc. Quote

Lithia Motors, Inc. LAD: This automotive retailer carries a Zacks Rank #1, has witnessed the Zacks Consensus Estimate for its current year earnings increasing 5.2% over the last 60 days.

Lithia Motors, Inc. Price and Consensus

Lithia Motors, Inc. price-consensus-chart | Lithia Motors, Inc. Quote

Lithia Motors has a PEG ratio of 0.43, compared with 0.54 for the industry. The company possesses a Growth Score of A.

Lithia Motors, Inc. PEG Ratio (TTM)

Lithia Motors, Inc. peg-ratio-ttm | Lithia Motors, Inc. Quote

See the full list of top ranked stocks here.

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

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HP Inc. (HPQ) : Free Stock Analysis Report

Albertsons Companies, Inc. (ACI) : Free Stock Analysis Report

Jabil, Inc. (JBL) : Free Stock Analysis Report

Lithia Motors, Inc. (LAD) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

State Street Corp.’s STT shares rose 2.2% after the company reported fiscal third-quarter 2021 adjusted earnings per share of $2.00, beating the Zacks Consensus Estimate of $1.92.
Albertsons Companies Inc. ACI shares gained 3.3% after reporting second-quarter fiscal 2021 adjusted earnings per share of $0.64, outpacing the Zacks Consensus Estimate of $0.45.
Shares of CDW Corp. CDW surged 4.8% after the company decided to acquire Sirius Computer Solutions for $2.5 billion in cash.
Shares of Facebook Inc. FB advanced 3.3% after the company announced its plan to hire 10,000 manpower in Europe to help build its much-hyped metaverse – an online world.

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State Street Corporation (STT) : Free Stock Analysis Report

Albertsons Companies, Inc. (ACI) : Free Stock Analysis Report

Facebook, Inc. (FB) : Free Stock Analysis Report

CDW Corporation (CDW) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

VANCOUVER, BC, Oct. 19, 2021 /CNW/ – Trading resumes in:

Company: RANCHERO GOLD CORP. (formerly Melior Resources Inc.)

TSX-Venture Symbol: RNCH (formerly MLR)

Resumption (ET): 9:30 AM 10/20/2021

IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) – Halts/Resumptions

Cision

View original content: http://www.newswire.ca/en/releases/archive/October2021/19/c5804.html

(Adds details from interview with BHP executive)

Oct 20 (Reuters) – BHP Group Ltd on Wednesday topped a takeover offer for Canadian nickel producer Noront Resources Ltd from billionaire Andrew Forrest's Wyloo Metals, as the two groups vie for greater access to the electric vehicle battery metal.

BHP, the world's biggest mining company, increased its all-cash offer to C$419.3 million ($339.1 million), or C$0.75 per share, bettering the C$0.70 per-share proposal from Wyloo that Noront backed on Monday

Wyloo, already Noront's top shareholder, this week lifted its offer from C$0.315 per share to top a C$0.55 proposal made by BHP in July.

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

"We like the geology of the area, and Noront has the best land position in that area," Johan van Jaarsveld, BHP's chief development officer, told Reuters.

BHP gave shareholders of the Canadian firm 22 days to accept its latest offer.

The company, which earlier this year signed a deal to supply Tesla https://www.reuters.com/business/bhp-supply-nickel-tesla-australia-2021-07-21 Inc with nickel from its Australian operations, does not plan to build a Canadian smelter to process Noront's nickel and won't limit nickel sales from the project to North America, he said.

Should BHP's offer prevail, the mine would be run completely on renewable electricity, van Jaarsveld said.

"We certainly have the operating track record in nickel and the ability to build infrastructure in remote areas," he said, adding that BHP would be open to developing the asset jointly "with the right partner".

Neither privately held Wyloo nor Noront immediately responded to a request for comment.

BHP's offer requires at least 50% of Noront shareholders to tender in support, while Wyloo's offer would require a shareholder vote.

If Noront shareholders support BHP's offer, "this could all be over by mid-November," van Jaarsveld said.

($1 = 1.2365 Canadian dollars)

(Reporting by Nikhil Kurian Nainan and Savyata Mishra in Bengaluru, and Ernest Scheyder in Houston; Editing by Aditya Soni, Subhranshu Sahu and Jan Harvey)

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says 'The biggest investment risk is not the volatility of prices, but whether you will suffer a permanent loss of capital.' It's only natural to consider a company's balance sheet when you examine how risky it is, since debt is often involved when a business collapses. We note that Gem Diamonds Limited (LON:GEMD) does have debt on its balance sheet. But the real question is whether this debt is making the company risky.

When Is Debt A Problem?

Debt and other liabilities become risky for a business when it cannot easily fulfill those obligations, either with free cash flow or by raising capital at an attractive price. Part and parcel of capitalism is the process of 'creative destruction' where failed businesses are mercilessly liquidated by their bankers. However, a more frequent (but still costly) occurrence is where a company must issue shares at bargain-basement prices, permanently diluting shareholders, just to shore up its balance sheet. Of course, plenty of companies use debt to fund growth, without any negative consequences. The first step when considering a company's debt levels is to consider its cash and debt together.

View our latest analysis for Gem Diamonds

How Much Debt Does Gem Diamonds Carry?

The image below, which you can click on for greater detail, shows that Gem Diamonds had debt of US$14.7m at the end of June 2021, a reduction from US$23.6m over a year. But it also has US$33.9m in cash to offset that, meaning it has US$19.2m net cash.

A Look At Gem Diamonds' Liabilities

We can see from the most recent balance sheet that Gem Diamonds had liabilities of US$43.1m falling due within a year, and liabilities of US$112.0m due beyond that. Offsetting these obligations, it had cash of US$33.9m as well as receivables valued at US$6.55m due within 12 months. So its liabilities total US$114.6m more than the combination of its cash and short-term receivables.

This is a mountain of leverage relative to its market capitalization of US$116.4m. Should its lenders demand that it shore up the balance sheet, shareholders would likely face severe dilution. Despite its noteworthy liabilities, Gem Diamonds boasts net cash, so it's fair to say it does not have a heavy debt load!

Even more impressive was the fact that Gem Diamonds grew its EBIT by 406% over twelve months. If maintained that growth will make the debt even more manageable in the years ahead. There's no doubt that we learn most about debt from the balance sheet. But it is future earnings, more than anything, that will determine Gem Diamonds's ability to maintain a healthy balance sheet going forward. So if you're focused on the future you can check out this free report showing analyst profit forecasts.

Finally, while the tax-man may adore accounting profits, lenders only accept cold hard cash. Gem Diamonds may have net cash on the balance sheet, but it is still interesting to look at how well the business converts its earnings before interest and tax (EBIT) to free cash flow, because that will influence both its need for, and its capacity to manage debt. In the last three years, Gem Diamonds created free cash flow amounting to 4.2% of its EBIT, an uninspiring performance. That limp level of cash conversion undermines its ability to manage and pay down debt.

Summing up

Although Gem Diamonds's balance sheet isn't particularly strong, due to the total liabilities, it is clearly positive to see that it has net cash of US$19.2m. And it impressed us with its EBIT growth of 406% over the last year. So we don't have any problem with Gem Diamonds's use of debt. There's no doubt that we learn most about debt from the balance sheet. However, not all investment risk resides within the balance sheet – far from it. Be aware that Gem Diamonds is showing 2 warning signs in our investment analysis , and 1 of those shouldn't be ignored…

When all is said and done, sometimes its easier to focus on companies that don't even need debt. Readers can access a list of growth stocks with zero net debt 100% free, right now.

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

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.

The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor.

Zacks Premium includes access to the Zacks Style Scores as well.

What are the Zacks Style Scores?

The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.

Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on — that means the better the score, the better chance the stock will outperform.

The Style Scores are broken down into four categories:

Value Score

For value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.

Growth Score

Growth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.

Momentum Score

Momentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

VGM Score

If you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.

How Style Scores Work with the Zacks Rank

The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.

It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +25.41% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.

With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.

That's where the Style Scores come in.

To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.

Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.

Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: CNX Resources Corporation. (CNX)

Founded in 1860, CNX Resources Corporation, an independent oil and gas exploration and production company formed after the separation of CONSOL’s, Exploration and Production (E&P) and Pennsylvania Mining Operations into two independent companies. The natural gas focused company retained the old ticker symbol while the coal focused company retained the name of the old company. As of Dec 31, 2020, the company had 9.55 trillion cubic feet equivalent of proved natural gas reserves up 13% year over year.

CNX is a #2 (Buy) on the Zacks Rank, with a VGM Score of B.

It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 10.42; value investors should take notice.

Five analysts revised their earnings estimate higher in the last 60 days for fiscal 2021, while the Zacks Consensus Estimate has increased $0.14 to $1.27 per share. CNX also boasts an average earnings surprise of 29.3%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, CNX should be on investors' short list.

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

CNX Resources Corporation. (CNX) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

(Bloomberg) — Canadian miner Noront Resources Ltd. agreed to be acquired by Andrew Forrest’s Wyloo Metals Pty Ltd. in a deal that tops a rival offer from BHP Group.

EIA Reports a Build Smaller Than Market Expectations

The latest injection puts total natural gas stocks at 3,369 billion cubic feet (Bcf), which is 501 Bcf (12.9%) below the 2020 level at this time and 174 Bcf (4.9%) lower than the five-year average.

The total supply of natural gas averaged 97.8 Bcf per day, essentially unchanged on a weekly basis as higher dry production was offset by lower shipments from Canada.

Natural Gas Registers a Weekly Decline

Wrap-Up

Final Words

Overall, given natural gas’ fundamental set-up, prices might ease occasionally but should generally stay strong. The upward trend should aid gas-weighted producers SilverBow Resources SBOW, Goodrich Petroleum GDP, Range Resources RRC, Comstock Resources CRK, EQT Corporation EQT and CNX Resources CNX, while LNG exporter Cheniere Energy LNG is also primed for growth. SilverBow, Goodrich, Range and Comstock sport a Zacks Rank #1 (Strong Buy), while EQT, CNX and Cheniere carry a Zacks Rank #2 (Buy).

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

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 CNX Resources Corporation (NYSE:CNX) in this article.

Is CNX Resources Corporation (NYSE:CNX) going to take off soon? Investors who are in the know were betting on the stock. The number of long hedge fund bets inched up by 7 recently. CNX Resources Corporation (NYSE:CNX) was in 30 hedge funds' portfolios at the end of June. The all time high for this statistic is 38. Our calculations also showed that CNX isn't among the 30 most popular stocks among hedge funds (click for Q2 rankings).

To the average investor there are plenty of tools investors employ to evaluate publicly traded companies. Two of the most useful tools are hedge fund and insider trading moves. Our researchers have shown that, historically, those who follow the top picks of the top fund managers can trounce their index-focused peers by a superb margin (see the details here). Also, our monthly newsletter's portfolio of long stock picks returned 185.4% since March 2017 (through August 2021) and beat the S&P 500 Index by more than 79 percentage points. You can download a sample issue of this newsletter on our website.

Ryan Tolkin, CIO of Schonfeld Strategic Advisors

At Insider Monkey, we scour multiple sources to uncover the next great investment idea. For example, lithium mining is one of the fastest growing industries right now, so we are checking out stock pitches like this emerging lithium stock. We go through lists like the 10 best EV 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. Keeping this in mind let's take a gander at the fresh hedge fund action encompassing CNX Resources Corporation (NYSE:CNX).

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

Heading into the third quarter of 2021, a total of 30 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 30% from one quarter earlier. Below, you can check out the change in hedge fund sentiment towards CNX over the last 24 quarters. With hedgies' capital changing hands, there exists an "upper tier" of notable hedge fund managers who were adding to their holdings meaningfully (or already accumulated large positions).

The largest stake in CNX Resources Corporation (NYSE:CNX) was held by Southeastern Asset Management, which reported holding $384.8 million worth of stock at the end of June. It was followed by D E Shaw with a $50.6 million position. Other investors bullish on the company included Aequim Alternative Investments, Arrowstreet Capital, and Quaker Capital Investments. In terms of the portfolio weights assigned to each position Southeastern Asset Management allocated the biggest weight to CNX Resources Corporation (NYSE:CNX), around 7.74% of its 13F portfolio. Quaker Capital Investments is also relatively very bullish on the stock, dishing out 3.98 percent of its 13F equity portfolio to CNX.

As one would reasonably expect, specific money managers were breaking ground themselves. Marshall Wace LLP, managed by Paul Marshall and Ian Wace, created the largest position in CNX Resources Corporation (NYSE:CNX). Marshall Wace LLP had $3.3 million invested in the company at the end of the quarter. Michael Gelband's ExodusPoint Capital also made a $1 million investment in the stock during the quarter. The other funds with brand new CNX positions are Mark Broach's Manatuck Hill Partners, Ryan Tolkin (CIO)'s Schonfeld Strategic Advisors, and Qing Li's Sciencast Management.

Let's also examine hedge fund activity in other stocks similar to CNX Resources Corporation (NYSE:CNX). These stocks are Alamos Gold Inc (NYSE:AGI), Kennametal Inc. (NYSE:KMT), Hilltop Holdings Inc. (NYSE:HTH), Jumia Technologies AG (NYSE:JMIA), Berkeley Lights, Inc. (NASDAQ:BLI), Calix Inc (NYSE:CALX), and Utz Brands Inc (NYSE:UTZ). This group of stocks' market values match CNX's market value.

[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position AGI,20,221648,-2 KMT,18,376031,5 HTH,8,44603,-8 JMIA,14,153915,-2 BLI,15,379480,-1 CALX,23,289870,-8 UTZ,14,76181,1 Average,16,220247,-2.1 [/table]

View table here if you experience formatting issues.

As you can see these stocks had an average of 16 hedge funds with bullish positions and the average amount invested in these stocks was $220 million. That figure was $540 million in CNX's case. Calix Inc (NYSE:CALX) is the most popular stock in this table. On the other hand Hilltop Holdings Inc. (NYSE:HTH) is the least popular one with only 8 bullish hedge fund positions. Compared to these stocks CNX Resources Corporation (NYSE:CNX) is more popular among hedge funds. Our overall hedge fund sentiment score for CNX is 83.7. 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. 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 24.9% in 2021 through October 15th and still beat the market by 4.5 percentage points. Unfortunately CNX wasn't nearly as popular as these 5 stocks and hedge funds that were betting on CNX were disappointed as the stock returned -3% since the end of the second quarter (through 10/15) 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 since 2019.

Get real-time email alerts: Follow Cnx Resources Corp (NYSE:CNX)

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

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

Goldman Sachs, Apple, Occidental Petroleum, CDW and Albertsons are five top stock gainers for Monday.

Toward the end of trading Monday, the Dow traded down 0.20% to 35,223.86 while the NASDAQ rose 0.68% to 14,998.54. The S&P also rose, gaining 0.19% to 4,480.05.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 45,792,530 cases with around 744,540 deaths. India confirmed a total of at least 34,081,310 cases and 452,320 deaths, while Brazil reported over 21,644,460 COVID-19 cases with 603,320 deaths. In total, there were at least 241,556,670 cases of COVID-19 worldwide with more than 4,915,950 deaths, according to data compiled by Johns Hopkins University.

Leading and Lagging Sectors

Consumer discretionary shares gained by 1.1% on Monday. Meanwhile, top gainers in the sector included Macy's, Inc. (NYSE: M), up 17% and Dutch Bros Inc. (NYSE: BROS) up 10%.

In trading on Monday, utilities shares fell 1%.

Top Headline

Albertsons Companies, Inc. (NYSE: ACI) reported better-than-expected results for its second quarter on Monday.

Albertsons reported quarterly earnings of $0.64 per share, beating analysts’ estimates of $0.45 per share. The company reported quarterly revenue of $16.50 billion, versus analysts’ estimates of $15.81 billion.

Albertsons also increased its quarterly dividend by 20% to $0.12 per share. The next quarterly dividend will be paid on November 12, 2021, to stockholders of record on October 29, 2021. Albertsons raised FY21 EPS guidance to $2.50 – $2.60 (previously $2.20 – $2.30) versus the consensus of $2.28. The company also raised adjusted EBITDA to $3.95 billion – $4.05 billion (prior view $3.7 billion – $3.8 billion).

Equities Trading UP

Valneva SE (NASDAQ: VALN) shares shot up 34% to $37.67 after the company reported VLA2001 met both co-primary endpoints in the Phase 3 pivotal trial Cov-Compare.

Shares of Evolving Systems, Inc (NASDAQ: EVOL) got a boost, shooting 22% to $2.7250 after the company announced it will sell its activation and marketing businesses to PartnerOne Capital for $40 million.

Peabody Energy Corporation (NYSE: BTU) shares were also up, gaining 21% to $19.37. Peabody said it sees preliminary Q3 sales of $670 million to $690 million.

Check out these big movers of the day

Equities Trading DOWN

Revance Therapeutics, Inc. (NASDAQ: RVNC) shares tumbled 39% to $13.83. The FDA issued a Complete Response Letter (CRL) regarding Revance Therapeutics’ marketing application for DaxibotulinumtoxinA for Injection for moderate to severe glabellar (frown) lines.

Shares of Omeros Corporation (NASDAQ: OMER) were down 27% to $5.67 after the company announced it received a Complete Response Letter from the FDA for the Biologics License Application for narsoplimab in the treatment of HSCT-TMA.

MannKind Corporation (NASDAQ: MNKD) was down, falling 19% to $4.1050 after the company announced the FDA issued a complete response to United Therapeutics regarding the New Drug Application for Tyvaso DPI.

Commodities

In commodity news, oil traded down 0.2% to $82.10, while gold traded down 0.1% to $1,767.00.

Silver traded down 0.3% Monday to $23.28 while copper fell 0.4% to $4.7125.

Euro zone

European shares closed lower today. The eurozone’s STOXX 600 slipped 0.50%, the Spanish Ibex Index fell 0.68% and the German DAX 30 declined 0.72%. Meanwhile, the London’s FTSE 100 fell 0.42%, French CAC 40 dipped 0.81% and Italy’s FTSE MIB dropped 0.83%.

Economics

Industrial production dropped 1.3% in September, following a revised 0.1% drop in August.

The NAHB housing market index increased 4 points to a reading of 80 in October.

The Treasury International Capital report for August will be released at 4:00 p.m. ET.

Check out the full economic calendar here

See more from Benzinga

Midway through trading Monday, the Dow traded down 0.05% to 35,275.96 while the NASDAQ rose 0.34% to 14,948.46. The S&P also rose, gaining 0.19% to 4,479.71.

Leading and Lagging Sectors

Consumer discretionary shares gained by 0.7% on Monday. Meanwhile, top gainers in the sector included Advance Auto Parts, Inc. (NYSE: AAP), up 3% and PlayAGS, Inc. (NYSE: AGS) up 1%.

In trading on Monday, health care shares fell 0.5%.

Top Headline

Albertsons Companies, Inc. (NYSE: ACI) reported better-than-expected results for its second quarter on Monday.

Equities Trading UP

Valneva SE (NASDAQ: VALN) shares shot up 30% to $36.35 after the company reported VLA2001 met both co-primary endpoints in the Phase 3 pivotal trial Cov-Compare.

Shares of Evolving Systems, Inc (NASDAQ: EVOL) got a boost, shooting 21% to $2.7099 after the company announced it will sell its activation and marketing businesses to PartnerOne Capital for $40 million.

Peabody Energy Corporation (NYSE: BTU) shares were also up, gaining 17% to $18.64. Peabody said it sees preliminary Q3 sales of $670 million to $690 million.

Check out these big movers of the day

Equities Trading DOWN

Revance Therapeutics, Inc. (NASDAQ: RVNC) shares tumbled 42% to $13.28. The FDA issued a Complete Response Letter (CRL) regarding Revance Therapeutics’ marketing application for DaxibotulinumtoxinA for Injection for moderate to severe glabellar (frown) lines.

Shares of Omeros Corporation (NASDAQ: OMER) were down 25% to $5.83 after the company announced it received a Complete Response Letter from the FDA for the Biologics License Application for narsoplimab in the treatment of HSCT-TMA.

MannKind Corporation (NASDAQ: MNKD) was down, falling 18% to $4.16 after the company announced the FDA issued a complete response to United Therapeutics regarding the New Drug Application for Tyvaso DPI.

Commodities

In commodity news, oil traded up 0.3% to $82.54, while gold traded up 0.1% to $1,769.20.

Silver traded down 0.4% Monday to $23.255 while copper fell 0.7% to $4.6975.

Euro zone

European shares were lower today. The eurozone’s STOXX 600 slipped 0.52%, the Spanish Ibex Index fell 0.78% and the German DAX 30 declined 0.68%. Meanwhile, the London’s FTSE 100 fell 0.42%, French CAC 40 dipped 0.83% and Italy’s FTSE MIB dropped 0.91%.

Economics

Industrial production dropped 1.3% in September, following a revised 0.1% drop in August.

The NAHB housing market index increased 4 points to a reading of 80 in October.

Federal Reserve Bank of Minneapolis President Neel Kashkari will speak at 2:15 p.m. ET.

The Treasury International Capital report for August will be released at 4:00 p.m. ET.

Check out the full economic calendar here

See more from Benzinga

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For Immediate Release

Here are highlights from Monday’s Analyst Blog:

Natural Gas: Price Falls but Fundamentals Remain Bullish

EIA Reports a Build Smaller Than Market Expectations

Natural Gas Registers a Weekly Decline

Wrap-Up

Albertsons Companies, Inc. Price and Consensus

Albertsons Companies, Inc. PEG Ratio (TTM)

Jabil, Inc. Price and Consensus

Jabil, Inc. PEG Ratio (TTM)

HP Inc. Price and Consensus

HP Inc. PEG Ratio (TTM)

Lithia Motors, Inc. Price and Consensus

Lithia Motors, Inc. PEG Ratio (TTM)

When Is Debt A Problem?

How Much Debt Does Gem Diamonds Carry?

A Look At Gem Diamonds' Liabilities

Summing up

EIA Reports a Build Smaller Than Market Expectations

Natural Gas Registers a Weekly Decline

Wrap-Up

Final Words

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

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