New York, New York–(Newsfile Corp. – July 29, 2021) – The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Piedmont Lithium Inc. (NASDAQ: PLL) alleging that the Company violated federal securities laws.
Class Period: March 16, 2018 and July 19, 2021
Lead Plaintiff Deadline: September 21, 2021
No obligation or cost to you.
Learn more about your recoverable losses in PLL:
https://www.kleinstocklaw.com/pslra-1/piedmont-lithium-inc-loss-submission-form?id=18093&from=5
Piedmont Lithium Inc. NEWS – PLL NEWS
CLASS ACTION CASE DETAILS: The filed complaint alleges that Piedmont Lithium Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) Piedmont has not, and would not, follow its stated steps or timeline to secure all proper and necessary permits; (2) Piedmont failed to inform relevant people and governmental authorities of its actual plans; (3) Piedmont failed to file proper applications with relevant governmental authorities (including state and local authorities); (4) Piedmont and its lithium business does not have "strong local government support"; and (5) as a result, Defendants' public statements were materially false and/or misleading at all relevant times.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in Piedmont you have until September 21, 2021 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased Piedmont securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the PLL lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link.
ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
Fax: (347) 558-9665
www.kleinstocklaw.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91612
New York, New York–(Newsfile Corp. – July 29, 2021) – The Law Offices of Vincent Wong announce that a class action lawsuit has commenced in the on behalf of investors who purchased Piedmont Lithium Inc. ("Piedmont") (NASDAQ: PLL) between March 16, 2018 and July 19, 2021.
If you suffered a loss, contact us at the link below. There is no cost or obligation to you.
https://www.wongesq.com/pslra-1/piedmont-lithium-inc-loss-submission-form?prid=18102&wire=5
Allegations against PLL include that the Company made materially false and/or misleading statements and/or failed to disclose that: (1) Piedmont has not, and would not, follow its stated steps or timeline to secure all proper and necessary permits; (2) Piedmont failed to inform relevant people and governmental authorities of its actual plans; (3) Piedmont failed to file proper applications with relevant governmental authorities (including state and local authorities); (4) Piedmont and its lithium business does not have "strong local government support"; and (5) as a result, Defendants' public statements were materially false and/or misleading at all relevant times.
If you suffered a loss in Piedmont you have until September 21, 2021 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
Fax. 866.699.3880
E-Mail: vw@wongesq.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91637
LOS ANGELES, July 29, 2021–(BUSINESS WIRE)–Glancy Prongay & Murray LLP ("GPM") reminds investors of the upcoming September 21, 2021 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Piedmont Lithium Inc. f/k/a Piedmont Lithium Limited ("Piedmont" or the "Company") (NASDAQ: PLL ,PLLL) securities between March 16, 2018 and July 19, 2021 inclusive (the "Class Period").
If you suffered a loss on your Piedmont investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https://www.glancylaw.com/cases/piedmont-lithium-inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.
On July 20, 2021, before market hours, Reuters reported that Piedmont "has not applied for a state mining permit or a necessary zoning variance in Gaston County, just west of Charlotte, despite telling investors since 2018 that it was on the verge of doing so." According to the article, a majority of the board of commissioners said, "they may block or delay the project because Piedmont has not told them what levels of dust, noise and vibrations will occur, nor how water and air quality would be affected."
On this news, the Company’s stock price fell $12.56, or nearly 20%, to close at $50.52 per share on July 20, 2021, thereby injuring investors.
The complaint filed alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Piedmont has not, and would not, follow its stated steps or timeline to secure all proper and necessary permits; (2) Piedmont failed to inform relevant people and governmental authorities of its actual plans; (3) Piedmont failed to file proper applications with relevant governmental authorities (including state and local authorities); (4) Piedmont and its lithium business does not have strong local government support; and (5) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
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If you purchased or otherwise acquired Piedmont securities during the Class Period, you may move the Court no later than September 21, 2021 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210729005260/en/
Contacts
Glancy Prongay & Murray LLP, Los Angeles
Charles Linehan, 310-201-9150 or 888-773-9224
shareholders@glancylaw.com
www.glancylaw.com
NEW YORK, July 28, 2021 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of AcelRx Pharmaceuticals, Inc. (NASDAQ: ACRX), Rocket Companies, Inc. (NYSE: RKT), 360 DigiTech, Inc. (NASDAQ: QFIN), and Piedmont Lithium Inc. (NASDAQ: PLL). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
AcelRx Pharmaceuticals, Inc. (NASDAQ: ACRX)
Class Period: March 17, 2020 to February 12, 2021
Lead Plaintiff Deadline: August 9, 2021
AcelRx is a specialty pharmaceutical company that focuses on the development and commercialization of therapies for the treatment of acute pain. The Company's lead product candidate is DSUVIA, a 30 mcg sufentanil sublingual tablet for the treatment of moderate-to-severe acute pain.
On November 2, 2018, AcelRx announced that the U.S. Food and Drug Administration (“FDA”) had approved DSUVIA for the management of acute pain in adults that is severe enough to require an opioid analgesic in certified medically supervised healthcare settings, such as hospitals, surgical centers, and emergency departments.
On February 16, 2021, AcelRx disclosed that, on February 11, 2021, the Company received a warning letter from the FDA concerning promotional claims for DSUVIA. Specifically, having “reviewed an ‘SDS Banner Ad’ (banner) (PM-US-DSV-0018) and a tabletop display (PM-US-DSV-0049) (display),” the FDA concluded that "[t]he promotional communications, the banner and display, make false or misleading claims and representations about the risks and efficacy of DSUVIA,” and “[t]hus . . . misbrand Dsuvia within the meaning of the Federal Food, Drug and Cosmetic Act (FD&C Act) and make its distribution violative.” The warning letter “request[ed] that AcelRx cease any violations of the FD&C Act” and "submit a written response to th[e] letter within 15 days from the date of receipt."
On this news, AcelRx’s stock price fell $0.21 per share, or 8.37%, to close at $2.30 per share on February 16, 2021.
The complaint alleges that, throughout the Class Period, defendants made materially false and misleading statements regarding the Company's business, operations, and compliance policies. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (i) AcelRx had deficient disclosure controls and procedures with respect to its marketing of DSUVIA; (ii) as a result, AcelRx had been making false or misleading claims and representations about the risks and efficacy of DSUVIA in certain advertisements and displays; (iii) the foregoing conduct subjected the Company to increased regulatory scrutiny and enforcement; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.
For more information on the AcelRx class action go to: https://bespc.com/cases/ACRX
Rocket Companies, Inc. (NYSE: RKT)
Class Period: February 25, 2021 to May 5, 2021
Lead Plaintiff Deadline: August 30, 2021
On May 5, 2021, Rocket Companies reported that it was on track to achieve closed loan volume within a range of only $82.5 billion and $87.5 billion and gain on sale margins within a range of only 2.65% to 2.95% for the second quarter of 2021. At the mid-point, this gain on sale margin estimate equated to a 239 basis point decline year-over-year and a 94 basis point decline sequentially, which represented Rocket Companies’ lowest quarterly gain on sale margin in two years. The stunning collapse in Rocket Companies’ gain on sale margin reflected the fact that the favorable market conditions purportedly being experienced by Rocket Companies during the Class Period had in fact reversed. During a conference call to explain the results, Rocket Companies’ Chief Financial Officer and Treasurer, defendant Julie R. Booth, revealed that the sharp decline in quarterly gain on sale margin was being caused by three factors: (i) pressure on loan pricing; (ii) a product mix shift to Rocket Companies’ lower margin Partner Network segment; and (iii) a compression in price spreads between the primary and secondary mortgage markets. Defendant Booth also admitted that certain of these trends began “at the end of Q1.”
On this news, the price of Rocket Companies Class A common stock fell by nearly 17% to close at $19.01 per share.
As the market continued to digest the news in the days that followed, the price of Rocket Companies Class A common stock continued to decline, falling to a low of just $16.48 per share by May 11, 2021.
The Rocket Companies class action lawsuit alleges that, throughout the Class Period, defendants made false and misleading statements and failed to disclose that: (i) Rocket Companies’ gain on sale margins were contracting at the highest rate in two years as a result of increased competition among mortgage lenders, an unfavorable shift toward the lower margin Partner Network operating segment and compression in the price spread between the primary and secondary mortgage markets; (ii) Rocket Companies was engaged in a price war and battle for market share with its primary competitors in the wholesale market, which was further compressing margins in Rocket Companies’ Partner Network operating segment; (iii) the adverse trends identified above were accelerating and, as a result, Rocket Companies’ gain on sale margins were on track to plummet at least 140 basis points in the first six months of 2021; (iv) as a result, the favorable market conditions that had preceded the Class Period and allowed Rocket Companies to achieve historically high gain on sale margins had vanished as Rocket Companies’ gain on sale margins had returned to levels not seen since the first quarter of 2019; (v) rather than remaining elevated due to surging demand, Rocket Companies’ company-wide gain-on-sale margins had fallen materially below pre-pandemic averages; and (vi) consequently, defendants’ positive statements about Rocket Companies’ business operations and prospects were materially misleading and/or lacked a reasonable basis.
For more information on the Rocket class action go to: https://bespc.com/cases/RKT
360 DigiTech, Inc. (NASDAQ: QFIN)
Class Period: April 30, 2020 and July 7, 2021
Lead Plaintiff Deadline: September 13, 2021
On July 8, 2021, reports circulated on social media to the effect that the Company's core product, the 360 IOU app, had been removed from major app stores. The reports came on the heels of the removal of other companies' apps as Chinese regulators investigated their customer data protection practices.
On this news, 360 DigiTech’s stock price fell $7.12 per share, or 21.48%, to close at $26.02 per share on July 8, 2021.
On July 9, 2021, Seeking Alpha reported that 360 DigiTech confirmed the removal of its 360 IOU app from the Android app store and quoted a Company spokesperson, who disclosed that the Company had “submitted a new rectification plan and stepped up the whole process.”
The complaint alleges that throughout the Class Period, defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company had been collecting personal information in violation of relevant People’s Republic of China laws and regulations; (ii) accordingly, 360 DigiTech was exposed to an increased risk of regulatory scrutiny and/or enforcement action; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times.
For more information on the 360 DigiTech class action go to: https://bespc.com/cases/QFIN
Piedmont Lithium Inc. (NASDAQ: PLL)
Class Period: March 16, 2018 and July 19, 2021
Lead Plaintiff Deadline: September 21, 2021
On July 20, 2021, before market hours, Reuters published an article entitled “In push to supply Tesla, Piedmont Lithium irks North Carolina neighbors.” Among other things, the article reported that “[t]he company […] has not applied for a state mining permit or a necessary zoning variance in Gaston County, just west of Charlotte, despite telling investors since 2018 that it was on the verge of doing so.” The article went on to report that “[f]ive of the seven members of the county’s board of commissioners, who control zoning changes, say they may block or delay the project[.]”
On this news, Piedmont shares fell $12.56 per share over the trading day, or nearly 20%, to close at $50.52 per share on July 20, 2021.
The complaint alleges that, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (i) Piedmont has not, and would not, follow its stated steps or timeline to secure all proper and necessary permits; (ii) Piedmont failed to inform relevant people and governmental authorities of its actual plans; (iii) Piedmont failed to file proper applications with relevant governmental authorities (including state and local authorities); (iv) Piedmont and its lithium business does not have “strong governmental support”; and (v) as a result, defendants' public statements were materially false and/or misleading at all relevant times.
For more information on the Piedmont Lithium class action go to: https://bespc.com/cases/PLL
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
Central Newfoundland
VANCOUVER, BC / ACCESSWIRE / July 29, 2021 / GREAT ATLANTIC RESOURCES CORP. (TSXV:GR) (the "Company" or "Great Atlantic") is pleased to announce the addition of Dr Karsten Eden to the technical team, as an exclusive strategic advisor for the purpose of target generation related specifically to the Golden Promise Gold Project In Newfoundland.
"We look forward to working with Dr. Eden as we continue to advance and expand through drilling our current high grade Gold resource, while encompassing the multiple new gold discoveries we have identified with in our land package. Our aspirations are to become a world class deposit similar to our neighbour Marathon Resources MOZ.v located a few kilometers away," states Chris Anderson, CEO Great Atlantic Resources.
About Dr. Karsten Eden
Dr. Karsten Eden has over 25 years diverse international experience in the management of exploration and mine development projects in North America, West Africa, Western Australia, Scandinavia, and Europe. He has a successful track record in exploration targeting and extensive experience in complex exploration data analysis, mineral potential modeling, resource modeling and mineral economics. He holds a doctorate degree in exploration geology from the University of Technology Aachen, Germany and is a Certified Professional Geologist through the American Institute of Professional Geologists and the European Federation of Geologists.
Dr. Eden has held senior management, Chief Geologist, and VP Exploration positions with junior exploration companies as well as with government agencies. He was instrumental in numerous mineral discoveries, including gold, platinum group metals, antimony and industrial heavy minerals.
On Behalf of the board of directors
"Christopher R Anderson"
Mr. Christopher R. Anderson
"Always be positive, strive for solutions, and never give up"
President CEO Director
Investor Relations:
Andrew Job
1-416-628-1560
IR@GreatAtlanticResources.com
Office Line 604-488-3900
About Great Atlantic Resources Corp.: Great Atlantic Resources Corp. is a Canadian exploration company focused on the discovery and development of mineral assets in the resource-rich and sovereign risk-free realm of Atlantic Canada, one of the number one mining regions of the world. Great Atlantic is currently surging forward building the company utilizing a Project Generation model, with a special focus on the most critical elements on the planet that are prominent in Atlantic Canada, Antimony, Tungsten and Gold.
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.
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.
Great Atlantic Resource Corp
888 Dunsmuir Street – Suite 888, Vancouver, B.C., V6C 3K4
SOURCE: Great Atlantic Resources Corp.
View source version on accesswire.com:
https://www.accesswire.com/657514/Great-Atlantic-Welcomes-Dr-Karsten-Eden-Strategic-Advisor-Target-Generation-Golden-Promise-Gold-Project
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.
Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.
Zacks has developed the innovative Style Scores system to highlight stocks with specific traits. For example, value investors will be interested in stocks with great grades in the "Value" category. When paired with a high Zacks Rank, "A" grades in the Value category are among the strongest value stocks on the market today.
Rio Tinto (RIO) is a stock many investors are watching right now. RIO is currently sporting a Zacks Rank of #2 (Buy), as well as a Value grade of A. The stock is trading with a P/E ratio of 5.38, which compares to its industry's average of 7.22. Over the past year, RIO's Forward P/E has been as high as 11.49 and as low as 5.02, with a median of 7.89.
Another valuation metric that we should highlight is RIO's P/B ratio of 1.99. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. This stock's P/B looks solid versus its industry's average P/B of 3.46. Over the past year, RIO's P/B has been as high as 2.28 and as low as 1.58, with a median of 1.94.
Value investors will likely look at more than just these metrics, but the above data helps show that Rio Tinto is likely undervalued currently. And when considering the strength of its earnings outlook, RIO sticks out at as one of the market's strongest value stocks.
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Rio Tinto PLC (RIO) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
Fig. 1: Canasil Nora Project, Candy Vein Long Section – 2020 and 2021 Drill Intercepts
Fig. 1: Canasil Nora Project, Candy Vein Long Section – 2020 and 2021 Drill Intercepts
VANCOUVER, British Columbia, July 29, 2021 (GLOBE NEWSWIRE) — Canasil Resources Inc. (TSX-V: CLZ, DB Frankfurt: 3CC, “Canasil” or the “Company”) reports completion of three drill holes, NRC-21-09, NRC-21-10, and NRC-21-11, with a fourth drill hole, NRC-21-12, in progress and nearing completion at the Nora silver-gold project in north-central Durango State, Mexico. The targets of these four drill holes are below and between high-grade gold and silver intercepts from the 2020 drill holes NRC-20-04 and NRC-20-06 on the Candy vein structure, as previously reported in the news release dated July 06, 2021, announcing the start of the drill program. A total of 790 metres of core drilling has been completed since the start of the program in early July 2021.
All three holes completed to date have cut the Candy vein structure as projected. A total of 110 core samples from intercepts in the first two drill holes, NRC-21-09 and NRC-21-10, are currently being processed at ALS Chemex Labs in Zacatecas and North Vancouver; core samples from the third drill hole, NRC-21-11, are being prepared for assay. The fourth hole NRC-21-12 is expected to be completed shortly.
Canasil President and CEO, Bahman Yamini commented; ”The positive progress with the 2021 drill program at the Nora project and quick completion of successive drill holes is encouraging and a credit to the drill contractors and our operating team. The Candy vein structure is being intersected as projected in every drill hole and we look forward to the results from these drill holes.”
The 2020 and 2021 drilling to date has intersected the Candy vein over a strike distance of 500 metres and to a depth of 200 metres. The four 2021 drill holes to date are targeted to test below and between the 2020 drill intercepts as shown on the Candy vein long section below.
About Nora Silver-Gold-Copper-Zinc-Lead Project, Durango State, Mexico:
The Nora project is located approximately 200 km north-west of the City of Durango, with good access and infrastructure. The geological setting is a Tertiary-aged volcanic flow-dome complex. Gold-silver mineralization is hosted within two structurally-controlled epithermal veins, Candy and Nora. Mineralization is typical of that found at many mines in the region, with gold and silver associated with galena, sulfosalt minerals and lesser pyrite, sphalerite and chalcopyrite. There is evidence of some historical mining activity on the Candy vein, which is exposed in discontinuous outcrops for over 900 metres. The fault structure hosting the Candy vein has been traced for a distance of over 3 km. Samples of vein outcrop and mineral dumps from the Candy vein returned significant gold, silver, copper, zinc and lead values. The second vein, Nora, is found 600 metres northeast of the Candy vein and can be traced for 230 metres with widths of over 9.0 metres. Surface samples from this vein returned anomalous silver values associated with trace sulphides, with a geochemical signature typical of the higher levels of epithermal vein systems in the region. The 2020 drill program was the first drilling at the Nora project and returned encouraging intercepts with high gold, silver and copper values from the Candy vein.
Systematic grid soil sampling over an area of 3 km by 2 km covering the Candy and Nora veins and projected extensions, showed elevated silver, base metal (copper, lead and zinc) and pathfinder (antimony and arsenic) values. The combination of the vein outcrops with large areas of anomalous silver and base metal values in soil samples may indicate additional concealed mineral systems. Other major deposits in the region include SSR Mining’s La Pitarrilla deposit located 50 km east of the Nora project.
The technical information herein has been reviewed and approved by Robert Brown (P. Eng.), a Qualified Person as defined by National Instrument 43-101. Mr. Brown is a technical advisor to Canasil.
About Canasil:
Canasil is a Canadian mineral exploration company with a strong portfolio of 100% owned silver-gold-copper-lead-zinc 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 includes certain statements that may be deemed to be “forward-looking statements”. All statements in this release, other than statements of historical facts are forward looking statements, including statements that address future mineral production, reserve potential, exploration drilling, exploitation activities and events or developments. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, changes in commodities prices, exploration successes, continued availability of capital and financing, and general economic, market or business conditions. The reader is referred to the Company’s filings with the Canadian securities regulators for disclosure regarding these and other risk factors. There is no certainty that any forward looking statement will come to pass and investors should not place undue reliance upon forward-looking statements.
Fig. 1: Canasil Nora Project, Candy Vein Long Section – 2020 and 2021 Drill Intercepts is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c7923915-7c3b-4bca-9fdf-9939e4b5df11
Wall Street expects a year-over-year increase in earnings on higher revenues when Silvercorp (SVM) reports results for the quarter ended June 2021. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.
The earnings report, which is expected to be released on August 5, 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 mineral miner is expected to post quarterly earnings of $0.08 per share in its upcoming report, which represents a year-over-year change of +60%.
Revenues are expected to be $54.9 million, up 17.5% from the year-ago quarter.
Estimate Revisions Trend
The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. 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.
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 Silvercorp?
For Silvercorp, 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 -8.70%.
On the other hand, the stock currently carries a Zacks Rank of #3.
So, this combination makes it difficult to conclusively predict that Silvercorp 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 Silvercorp would post earnings of $0.04 per share when it actually produced earnings of $0.04, delivering no surprise.
The company has not been able to beat consensus EPS estimates in any of the last four quarters.
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.
Silvercorp 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.
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(Bloomberg) — Sanjeev Gupta has paid $25 million to Rio Tinto Group to settle a long-running dispute over the final payment for an aluminum smelter he bought from the mining giant in 2018.
The deal was disclosed in the financial accounts of one of Gupta’s holding companies for the smelter, which stated that a settlement agreement had been signed to close all claims and counterclaims between the two sides on payment of $25 million by the unit that operates the plant. The payment took place on April 30, according to the accounts.
The settlement shows how buoyant steel and aluminum markets are helping Gupta, even as he battles to keep hold of his business empire after the collapse of his largest lender, Greensill Capital. His GFG Alliance is also being investigated by the U.K.’s Serious Fraud Office over alleged fraud and money laundering.
The dispute with Rio dates back to the miner’s sale of the Dunkirk smelter in France — Europe’s largest aluminum plant — to Gupta for $500 million in 2018. Rio initiated an arbitration process after Gupta’s group failed to make a final payment after the deal was completed. Rio had been seeking about $50 million, the Financial Times reported in 2019.
The Dunkirk smelter is now the focus of an acrimonious battle between Gupta and one of his creditors, U.S. private equity group American Industrial Partners. A holding company for the smelter has been put into administration as AIP seeks to take control of the asset.
However, a blistering rally in aluminum prices is lifting the GFG’s profits, giving Gupta more options as he seeks new backers. He has already agreed a deal with Glencore Plc to refinance the aluminum business.
Stronger Year
The French group of companies that owns the Dunkirk smelter had earnings before interest, taxes, depreciation and amortization of $79 million in 2020, compared with $88 million in 2019, according to the accounts. However, this year’s earnings and operational cash flows were predicted to be “much stronger” thanks to higher aluminum prices, according to the filing.
Spokespeople for Gupta’s GFG Alliance and Rio declined to comment.
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(Compares estimates, adds all-in sustaining costs, background)
July 29 (Reuters) – Canadian miner Turquoise Hill Resources Ltd on Thursday beat estimates for second-quarter profit, bolstered by a strong output from the Oyu Tolgoi mine in Mongolia and higher prices of copper and gold.
Prices of the red metal hit a record high in May, boosted by demand from electric-vehicle makers and other clean-energy investments. Bullion prices also rose in the second quarter as a weak dollar and pandemic-related uncertainties lifted its safe-haven appeal.
Turquoise Hill's copper production from Oyu Tolgoi stood at 36,735 tonnes in the quarter, compared with 36,495 ounces last year. Its gold output more than tripled to 113,054 ounces.
Oyu Tolgoi, one of the world's largest copper-gold-silver mines, was at the center of a long-running funding spat between Rio Tinto and Turquoise, before the dispute was put to bed in April.
The Mongolian government holds a 34% stake in the Oyu Tolgoi project with Rio's majority-owned Turquoise owning the rest.
Turquoise Hill's all-in sustaining costs fell 32% to $1.48 per pound of copper produced in the quarter.
Its income attributable to the owners of the company was $96.9 million, or 48 cents per share, for the three months ended June 30, compared with $72.6 million, or 36 cents per share, a year earlier.
Analysts on average were expecting a profit of 34 cents per share, according to Refinitiv IBES.
(Reporting by Rithika Krishna in Bengaluru; Editing by Devika Syamnath)
(Bloomberg) — Sacred sites, endangered sawfish and mythical rainbow serpents are the latest challenges confronting commodities powerhouse Australia as the nation’s top mining companies meet for their biggest annual conference.
Since the destruction last year by Rio Tinto Group of a 46,000-year-old Aboriginal rock shelter at Juukan Gorge, the industry has been scrambling to deal with a backlash over heritage protection and environmental issues. A national enquiry into the incident and new laws being drafted by the Western Australia government could have an impact on some A$18 billion ($13 billion) in projects planned by mining giants operating in the Pilbara, the nation’s iron-ore heartland, as well as other resources projects.
The industry, which gathers on Monday for the three-day Diggers and Dealers conference on the edge of a huge gold mine in Kalgoorlie, Western Australia, is already facing the threat of increasing restrictions on emissions, as well as a political spat with China, its biggest buyer. Now, Aboriginal communities are fighting for a stronger role to protect their culture from resources extraction and agriculture.
“The new legislation will put Aboriginal people at the center of decision making,” the Western Australia government said in an emailed statement. “One of the primary objectives of the bill is to ensure that Aboriginal people have custodianship over their heritage.”
The proposed new law will seek to strike a balance between giving indigenous people a stronger voice, without impeding growth in a resources industry estimated to have delivered a record A$310 billion in export revenue in fiscal 2021. Australia ranks among the top producers of metals from gold to lithium and some investors are concerned that if the rules don’t provide traditional landowners with enough safeguards, it could increase the risk of another damaging incident.
“This is a once in a generation opportunity to get a piece of legislation and not just try and fix it at the edges,” said Mary Delahunty, head of impact at pension fund Hesta, which has about A$60 billion in assets. She said the WA government’s draft proposal does not appear to go far enough in giving indigenous groups a stronger voice.
Traditional landowners agree.
“The current draft won’t prevent another Juukan Gorge,” said Wayne Bergmann, interim chief executive officer of the Kimberley Land Council, which represents Aboriginal landowners in the far north of the state. Bergmann is concerned that, under the proposed legislation, the final decision on whether work can be carried out in an area of cultural significance will still be the responsibility of whichever minister is in power at the time, rather than an independent expert body.
“Fundamentally, the investment community needs to be worried because this places risk on projects,” Bergmann said. The government says it was still drafting the bill, and had already made several revisions based on feedback from stakeholders.
Rio, the world’s biggest iron-ore miner, said it is giving cultural heritage and environmental issues a higher priority in the wake of Juukan Gorge and has set up an indigenous advisory committee to improve its engagement with local communities. The London-based company said in April it had reviewed over 1,300 sites in the Pilbara for their potential impact on cultural heritage, with subsequent additional safeguards resulting in 54 million tons of dry ore being removed from its reserves.
Read: A Miner Blew Up Ancient Human History. An Industry May Pay
The fallout from Juukan Gorge is affecting more than the mining industry. The new legislation will also affect agriculture.
One example is the plight of sawfish, which are under threat from the demands of cattle stations that extract water from the Fitzroy River, one of the last remaining nursery habitats of the critically endangered freshwater sawfish, which can grow up to 7 meters long.
The distinctive rays, with their chainsaw-like snouts, are seen in Aboriginal culture as protectors of the river. The global range of the species has declined by more than 60% since the turn of the century, according to a 2019 study by Murdoch University’s Harry Butler Institute.
The WA government has extended a consultation process on water management plans for the Fitzroy River to the end of August.
The task of lawmakers is complicated by the fact that the new rules need to protect not only historical sites and the environment, but also cultural beliefs.
When iron-ore billionaire Andrew Forrest proposed building weirs on one of his cattle stations to hold water from the Ashburton River, the plan was rejected by the state government because of its potential impact on the rainbow serpent, which Aboriginal culture says resides in the river. Forrest’s legal team is appealing the decision, arguing that the weirs will have minimal impact on the river flow, and the serpent will still be able to move freely.
Night Parrot
Forrest, who has a doctorate in marine ecology, has been a vocal supporter of the Aboriginal community — indigenous people make up around 12% of the Australian-based workforce at his Fortescue Metals Group Ltd. The company vowed to protect the endangered night parrot, which had been feared extinct prior to a 2005 sighting near the group’s Cloudbreak mine in the Pilbara.
Hesta’s Delahunty says landowner groups should have the right to veto projects, which would reassure investors that local community concerns were being taken seriously. “It’s important not just from a reconciliation point of view, but also to the financial outcomes of the company.”
The WA government said it won’t include a right of veto, which would be “a disincentive to agreement making.”
Meanwhile, resources companies are aware that their social license to operate is under closer scrutiny than ever. Rio’s former Chief Executive Officer Jean-Sebastien Jacques and other senior executives stepped down in the wake of the Juukan Gorge incident. Since Jacques’ departure, Rio’s shares have gained around 28% in London as iron-ore prices soared, but the FTSE All-Share Industrial Metals and Mining Index has more than doubled in the same time.
“Australia is watching,” Delahunty said. “The investment community is watching this process, because on our watch we will not have another of these incidents.”
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(Adds details, updates prices throughout)
July 29 (Reuters) – Canada's main stock index rose on Thursday, as miners tracked gold prices higher after the U.S. Federal Reserve doused prospects of an increase in lending rates.
* Bullion prices rose more than 1% to a near two-week high after the U.S. central bank's statement.
* Fed Chair Powell said the U.S. job market still had "some ground to cover" before it would be time to pull back from the economic support the central bank put in place in 2020 to combat the COVID-19 pandemic.
* At 9:51 a.m. ET (1351 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 89.86 points, or 0.44%, at 20,320.26.
* Seven of the index's 11 major sectors were higher, led by the materials sector — which includes precious and base metals miners. It added 2.1%.
* Endeavour Silver and Kirkland Lake Gold were the top percentage gainers on the subindex, rising 5.5% each.
* The energy sector climbed 1.2% as U.S. crude prices were up 0.6% a barrel, while Brent crude added 0.6%.
* Bank of Canada Governor Tiff Macklem, writing in a column for the Financial Post newspaper, said Canadians can be confident that the cost of living will not rise out of control as the economy reopens from the COVID-19 pandemic.
* Among earnings reports, oil and gas producer Cenovus Energy Inc added 2.5% as it raised its full-year production forecast and posted a near 2% rise in second quarter profit.
* Canadian Pacific Railway Ltd gained 1.8% after the railroad operator topped quarterly profit estimates on Wednesday.
* On the TSX, 158 issues were higher, while 70 issues declined for a 2.26-to-1 ratio favouring gainers, with 21.93 million shares traded.
* Lundin Mining fell 7.0%, the most on the TSX, followed by shares in Real Matters Inc, down 5.3%.
* The most heavily traded shares by volume were Lundin Mining, down 7%; Suncor Energy, down 0.3% and Cenovus Energy, up 2.4%.
* The TSX posted no new 52-week high and no new low.
* Across all Canadian issues, there were 32 new 52-week highs and three new lows, with total volume of 36.37 million shares. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Aditya Soni and Uttaresh.V)
VANCOUVER, BC, July 29, 2021 /CNW/ – Finlay Minerals Ltd. (TSXV: FYL) ("Finlay" or the "Company") is pleased to announce the completion and results of Phase I of its 2021 exploration program.
Highlights:.
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The June 2021 soil / rock sampling program has doubled the size of the multi-element geochemistry anomaly at the Equity East target to an area of 3.5 by 3.5 kilometers ("km").
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The soil sample anomaly is coincident with airborne magnetic and ZTEM results.
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A ground induced polarization ("IP") geophysical program of 15-30km will commence in mid-August over the Equity East target.
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A 2,000 meter ("m") oriented-core drill program has been designed to test the 2020 re-interpretated nature of the Silver ("Ag"), Gold ("Au") and Copper ("Cu") mineralization found along the MAIN Trend; this program is scheduled for late September, 2021.
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The drill program will test for open pittable Ag-Au-Cu mineralized zones above 100m depth.
The overall goal for the Company's 2021 exploration program is to leverage the data compilation of the past 50 years of exploration work in the search for further Equity Silver-type (open-pittable Au, Cu, Ag) and intrusive-hosted porphyry Cu – Molybdenum ("Mo") – Au deposits.
Robert F. Brown, President & CEO of Finlay states:
"I am particularly excited that the Equity East Zone has been doubled in area. The upcoming August IP geophysical survey will cover the extent of the geochemically anomalous area, as well as the east-west oriented magnetic feature, and NNE trending ZTEM airborne geophysical feature. The September core drilling program will test the re-interpretation of the MAIN Trend mineralized zones as being NE oriented with moderate NW dips. Drilling will target thicker and well-mineralized zones from previous drilling along the plunge of the Skeena Group tuff bedding and fracture-controlled mineralization. The focus will be to develop open-pittable mineralization at less than 100m depth."
2021 Silver Hope Soil / Rock Sampling Program:
In June, 2021, a soil (834 samples) and rock (37 samples) sampling program was carried out with the aim to both expand the Equity East anomaly and as well as to test various other magnetic targets. With the 2021 sampling, the Equity East target has expanded to twice the previous size – an area of 3.5 by 3.5km.
The multi-element signature at Equity East includes Ag, As, Cu, Mo, Pb, and Zn in addition to several pathfinder elements (Hg, Bi, Te, Se, +/- Sb and +/- Tl). Silver values in the soil assays ranged from 0.1ppm to 28.5ppm, copper values in the soil assays ranged from 6ppm to 230ppm, lead values in the soil assays ranged from 4.1ppm to 1,220ppm and zinc soil assay values ranged from 21ppm to 2,550ppm. Rock samples were collected from snow-free south facing slopes and include gabbro, tuffs, and previously unmapped tuffs which were found to be strongly oxidized with moderate to strong quartz, sericite and pyrite alteration. Minor quartz veining was present in some rock sampled with pyrite, galena and chalcopyrite. The best assays for the rock samples were 2.97 g/t Ag, 50ppb Au, 1,095ppm Cu, 2,980 ppm Pb and 3,360 ppm Zn. Fault measurements in this area were trending to the east and steeply dipping which correlates with the overall regional magnetic high anomaly. The large multi-element anomaly coincides with a large magnetic high feature directly east of the former Equity Silver Mine, as well as a prominent 5km long, NNE trending airborne ZTEM geophysical anomaly, similar to the one reflecting the MAIN Trend (Finlay) and former Equity Silver Mine. (CLICK HERE to view the map showing the multi-element anomaly overlaying the airborne magnetics and CLICK HERE to view the map showing the multi-element anomaly overlaying the geology.)
Up-Coming 2021 Silver Hope IP and Core Drilling:
A survey of 15-30 line kilometers will commence in mid-August to cover the Equity East geochemical anomaly. The IP lines will be oriented both east-west to cross the Equity East and Allin Zones, along with the five (5) kilometer long NNE trending ZTEM anomaly. As well several north-south lines will be completed to cover the east-west oriented magnetic high anomaly. Depending on field results, in-fill lines will also be completed. Along with the IP survey, Finlay geologists will focus on detailed mapping and sampling, and Terraspec alteration studies in the Equity East and Allin Zone area to build a comprehensive geological foundation for target definition and future drill testing.
In late September, a 2,000m oriented-core drilling program will commence over the Gaul, Superstition and Hope Zones (the MAIN Trend). The drilling will be re-oriented taking into consideration findings of the initial oriented-core drilling program at the Gaul Zone in late 2020. Namely, mineralization and dikes strike northeasterly and dip moderately northwest; there is continuity of mineralized zones between sections; mineralization is hosted by volcanic felsic tuffs associated with fractures, veining, and brecciation with footwall intrusive dikes – a common theme throughout the drill program. The plunge of the mineralization and the stratigraphy (bedding) is 250/20. Drilling will target mineralization in the more susceptible tuff beds, respecting the plunge and focussing on mineralization at less than 100m depth. Finlay is initially targeting five (5) zones of open pittable Ag-Cu-Au mineralization.
QA and QC:
All rock and soil sample assay results have been monitored through a quality assurance / quality control (QA/QC) program.
Rock samples were sampled and shipped in sealed and secure bags to the ALS Global laboratory in North Vancouver, BC. Rock samples were crushed to 70% less than 2mm, rotary split off 250g, pulverised split to better than 85% passing 75 microns. Rock samples were analyzed for multi-element ultra-trace method combining a four-acid digestion with ICP-MS instrumentation. A four-acid digest is performed on 0.25g of sample to quantitatively dissolve most geological materials (method ME-MS61). Gold was analyzed by fire assay on a 30 gram sample with an AAS finish (method Au-AA23).
Soil samples were shipped in sealed and secure bags to the ALS Global laboratory in North Vancouver, BC. Soil samples were dried and sieved to -180 microns. Soil samples were assayed by aqua regia digestion with ICP finish on a 25 gram sample (method AuME-TL43).
In addition to the ALS Global laboratory QA/QC protocols, Finlay Minerals implements an internal QA/QC program that includes the insertion of duplicates, standards and blanks into the rock sample stream. Finlay Minerals inserted duplicates, standards and blanks at 2% of the total soil samples.
Qualified Person:
Wade Barnes, P. Geo. and Vice President, Exploration for Finlay Minerals and a qualified person as defined by National Instrument 43-101, has approved the technical content of this news release.
About Finlay Minerals Ltd.
Finlay is a TSX Venture Exchange company focused on exploration for base and precious metal deposits in northern British Columbia. Finlay recently completed a financing of $1 million flow-through, and $1.64 million in non-flow-through funds.
Finlay Minerals Ltd. trades under the symbol "FYL" on the TSX Venture Exchange. For further information and details please visit the Company's website at: www.finlayminerals.com.
On behalf of the Board of Directors,
Robert F. Brown, P. Eng.,
President & CEO
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.
Forward-Looking Information: This news release includes certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "expect", "plan", "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate", "intend" or "believe" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking statements in this news release include statements regarding, among others, the exploration plans for the Company's Silver Hope Property. Although Finlay believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration successes, and continued availability of capital and financing and general economic, market or business conditions. These forward-looking statements are based on a number of assumptions including, among other things, assumptions regarding general business and economic conditions, the timing and receipt of regulatory and governmental approvals, the ability of Finlay and other parties to satisfy stock exchange and other regulatory requirements in a timely manner, the availability of financing for Finlay's proposed transactions and programs on reasonable terms, and the ability of third party service providers to deliver services in a timely manner. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Finlay does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future or otherwise, except as required by applicable law.
SOURCE Finlay Minerals Ltd.
View original content: http://www.newswire.ca/en/releases/archive/July2021/29/c6006.html
If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Ideally, a business will show two trends; firstly a growing return on capital employed (ROCE) and secondly, an increasing amount of capital employed. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. And in light of that, the trends we're seeing at Dundee Precious Metals' (TSE:DPM) look very promising so lets take a look.
What is Return On Capital Employed (ROCE)?
For those that aren't sure what ROCE is, it measures the amount of pre-tax profits a company can generate from the capital employed in its business. To calculate this metric for Dundee Precious Metals, this is the formula:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets – Current Liabilities)
0.25 = US$211m ÷ (US$971m – US$113m) (Based on the trailing twelve months to March 2021).
Therefore, Dundee Precious Metals has an ROCE of 25%. In absolute terms that's a great return and it's even better than the Metals and Mining industry average of 0.04%.
Check out our latest analysis for Dundee Precious Metals
In the above chart we have measured Dundee Precious Metals' prior ROCE against its prior performance, but the future is arguably more important. If you'd like, you can check out the forecasts from the analysts covering Dundee Precious Metals here for free.
The Trend Of ROCE
Dundee Precious Metals' ROCE growth is quite impressive. Looking at the data, we can see that even though capital employed in the business has remained relatively flat, the ROCE generated has risen by 1,493% over the last five years. Basically the business is generating higher returns from the same amount of capital and that is proof that there are improvements in the company's efficiencies. On that front, things are looking good so it's worth exploring what management has said about growth plans going forward.
Our Take On Dundee Precious Metals' ROCE
To bring it all together, Dundee Precious Metals has done well to increase the returns it's generating from its capital employed. And investors seem to expect more of this going forward, since the stock has rewarded shareholders with a 94% return over the last five years. In light of that, we think it's worth looking further into this stock because if Dundee Precious Metals can keep these trends up, it could have a bright future ahead.
On a separate note, we've found 3 warning signs for Dundee Precious Metals you'll probably want to know about.
If you'd like to see other companies earning high returns, check out our free list of companies earning high returns with solid balance sheets here.
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.
Edmonton, Alberta–(Newsfile Corp. – July 29, 2021) – Grizzly Discoveries Inc. (TSXV: GZD) (OTCQB: GZDIF) (FSE: G6H) ("Grizzly" or the "Company") is pleased to announce that field crews have completed an initial phase 1 sampling evaluation of high-priority conductivity anomalies in the search for Cobalt (Co), Copper (Cu) and Silver (Ag) mineralization that have been identified at its Robocop Property following analysis of the recent 400 line-km Versatile Time Domain Electromagnetic ("VTEM™") and magnetic survey data (Figure 1 below). Results are pending and once received will be used to plan ground geophysical surveys over the high-priority anomalies. The Robocop Property is 100% owned by Grizzly and is easily road accessible in Southeast British Columbia (the "Property"), near the hamlets of Grasmere and Roosville.
Brian Testo, CEO of Grizzly, commented, "The initial results will provide high-priority drill targets to be drilled during Q3 2021. Historical results have provided high-grade copper, cobalt and silver and we anticipate more results that will enable drill targeting towards the source of multiple anomalies. The Property has significant potential for new copper-cobalt discoveries."
Crews from APEX Geoscience Ltd. conducted a follow-up Phase 1 ground geochemical survey to test a number of high and secondary priority geophysical anomalies identified in the vicinity of the "Discovery Area" (See Figure 2 below) and across the property. The Discovery Area has provided historical anomalous trench and core intersections of up to 0.134% Co, 1.19% Cu and 33.8 grams per tonne (g/t) Ag over 1.23 m. Over the course of the three-week program a total of 588 soil samples and 16 rock samples were collected from across the property (see Figure 2 below). The samples have been submitted for multielement geochemical analysis.
Fig 1. New mineral claims (in white outlines) on a map of calculated time constant TAU values for conductance for S Field (dB/dt) with Cu in rocks & soils.
To view an enhanced version of Fig. 1, please visit:
https://orders.newsfilecorp.com/files/4488/91508_de556fa3a49898d2_002full.jpg
Fig 2. EM anomalies (including high priority anomalies as white stars) on a map of conductance for S Field (dB/dt) with sampling conducted in June 2021.
To view an enhanced version of Fig 2, please visit:
https://orders.newsfilecorp.com/files/4488/91508_de556fa3a49898d2_003full.jpg
A number of high priority targets have been identified with some in close proximity to known Co-Cu-Ag geochemical anomalies identified in historical rocks grab samples, soils and drilling. Figure 2 above shows the locations of the 2021 soil and rock samples collected to date. The samples have been submitted to ALS Chemex in Vancouver for multielement geochemical analysis and results will be released in the coming weeks as they are received. During the course of the field work a couple of new showings of copper mineralization were found in float and outcrop. An example of copper bearing float hosted in sedimentary rocks about 300 m west of the main showings and in the vicinity of high priority VTEM anomalies 15-3 and 16-3 is provided in Figure 3 below.
A Notice of Work land use permit application for drilling a number of the VTEM anomalies has been submitted to the Front Counter BC's Cranbrook Office with anticipated drill testing in the fall, 2021.
The property is hosted within a similar geological setting to the Idaho Cobalt-Copper belt where conductivity (EM) and magnetic surveying techniques have been used previously to successfully guide drilling of prospective targets and assist in making new metal discoveries.
Fig 3. Strong malachite staining on metasiltstone-sandstone float found during the field program in June 2021.
To view an enhanced version of Fig 3, please visit:
https://orders.newsfilecorp.com/files/4488/91508_de556fa3a49898d2_004full.jpg
HIGHLIGHTS FOR THE ROBOCOP PROPERTY
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The Robocop Project is comprised of 9,053 acres (3,663 ha) in five mineral claims that are all road accessible, just off Provincial Highway 93 in southeast B.C.
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Initial surface trenching in the late 1980's to early 1990's yielded up to 0.06% Co and 1.93% Cu over 6 metres (m) in one trench, and in a separate trench up to 0.146% Co, 1.8% Cu and 5.3 grams per tonne (g/t) Ag over 5 m in sediment-hosted sulphide mineralization within middle Proterozoic Purcell Group rocks (Thomson, 1990).
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A total of 15 drill holes in the area between 1990 and 2008 have yielded several intersections of near surface Co-Cu-Ag mineralization with grades of up to 0.134% Co, 1.19% Cu and 33.8 g/t Ag over 1.23 m core length in hole R-1990-5 and 0.14% Co, 0.9% Cu and 2.7 g/t Ag over 3.1 m core length in hole R-1990-6 (Thomson, 1990), along with an intersection of 0.18% Co, 0.28% Cu and 4.1 g/t Ag over 1 m core length in hole R-2008-02 (Pighin, 2009).
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All but one of the historical drillholes tested a single target in an area about 500 m by 350 m. The Property is approximately 10 km in length and 3.5 km in width and contains at least four untested anomalous soil +/- rock geochemical targets.
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Sediment hosted Co-Cu-Ag mineralization is similar in style, age and host rocks to mineralization at Jervois Mining Ltd.'s Idaho Cobalt project and Hecla's Revett Formation hosted mineralization near Troy, Montana.
The Property has yielded significant historical cobalt, copper and silver results and presents an opportunity to discover battery and electrification metals as the world shifts to electric vehicles, sustainable practices and greener alternatives. The macroeconomic outlook for battery metals such as Co and Cu remains strong with the ongoing shift to electric vehicles. It is estimated that the battery sector accounts for approximately 57% of current Co demand; this is expected to grow over the next five years to 72%, and will require an additional 100,000 tonnes/annum of Cobalt to meet demand.1
The technical content of this news release and the Company's technical disclosure has been reviewed and approved by Michael B. Dufresne, M. Sc., P. Geol., P.Geo., who is the Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.
ABOUT GRIZZLY DISCOVERIES INC.
Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange, with 93 million shares issued, focused on developing its over 160,000 acres of precious and base metals properties in southeastern British Columbia. Grizzly is run by a highly experienced junior resource sector management team, who have a track record of advancing exploration projects from early exploration stage through to feasibility stage.
On behalf of the Board,
GRIZZLY DISCOVERIES INC.
Brian Testo, CEO, President
Tel: 780 693 2242
For further information, please visit our website at www.grizzlydiscoveries.com or contact:
Chris Beltgens
Corporate Development
Tel: 604 347 9535
Email: cbeltgens@grizzlydiscoveries.com
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.
Caution concerning forward-looking information
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as "may," "will," "should," "anticipate," "plan," "expect," "believe," "estimate," "intend" and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Grizzly in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Grizzly's actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.
Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. Grizzly disclaims any obligation to update or revise any forward-looking information or statements except as may be required by law.
_____________________
1 Cobalt's Price Rises Highlight Shift to Battery-Driven Pricing Dynamics, Benchmark Mineral Intelligence, November 19th, 2021
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91508
PITTSBURGH, July 29, 2021 /PRNewswire/ — CNX Resources Corporation (NYSE: CNX) ("CNX" or "the company") today released financial and operational results for the second quarter 2021 by posting those results on its website as detailed below.
Second quarter earnings results and supplemental information regarding quarterly E&P data such as production volumes and hedging information, financial statements, and non-GAAP reconciliations can be accessed by clicking here.
A company presentation to accompany the CNX earnings conference call can be accessed by clicking here.
The company's earnings results and supplemental information, and presentation materials are also available on the Investor Relations page of the company's website at www.cnx.com.
As previously disclosed, the CNX earnings conference call details are as follows:
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10:00 a.m. ET: Thursday, July 29
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Dial-In: 855-656-0928 (domestic) 412-902-4112 (international)
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Reference "CNX Resources Call"
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Webcast: investors.cnx.com
A brief Q&A session for securities analysts will immediately follow the discussion. A replay of the conference call and webcast will be maintained on the Investor Relations page on CNX's website.
About CNX Resources Corporation
CNX Resources Corporation (NYSE: CNX) is the premier independent natural gas development, production, and midstream company, with operations centered in the major shale formations of the Appalachian basin. Our vertically integrated model includes transmission, storage, gathering systems, and water infrastructure that support energy development from wellhead to end user. With the benefit of a more than 150-year legacy and a substantial asset base amassed over many generations, the company deploys a strategy focused on responsibly developing its resources to create long term per share value for its shareholders, employees, and the communities where it operates. As of December 31, 2020, CNX had 9.55 trillion cubic feet equivalent of proved natural gas reserves. The company is a member of the Standard & Poor's Midcap 400 Index. Additional information may be found at www.cnx.com.
View original content to download multimedia:https://www.prnewswire.com/news-releases/cnx-reports-second-quarter-results-301344147.html
SOURCE CNX Resources Corporation
Teck Resources Ltd TECK reported second-quarter 2021 adjusted earnings per share of 51 cents, which beat the Zacks Consensus Estimate of 50 cents. The bottom line also improved from 12 cents earned in the prior-year quarter, driven by higher prices of its principal products, most significantly copper and steelmaking coal.
Including one-time items, the company reported earnings per share of 39 cents against a loss of 20 cents in the prior-year quarter.
Net sales were $2,082 million, which increased 68.3% year over year. However, the top line missed the Zacks Consensus Estimate of $2,124 million.
Steelmaking coal sales volumes improved 24% year over year to 6.2 million tons and was within the company’s guided range. Of this, sales to China accounted for approximately 2 million tons. Copper sales volume increased 21% year over year. This was partly offset by 36% reduction in sales volumes of zinc in concentrate.
Gross profit, before depreciation and amortization came in at $861 million compared with the year-ago quarter’s $326 million. Gross margin came in at 41.4% compared with the year-ago quarter’s 26.3%. Adjusted EBITDA was $804 million, up 130.4% from the prior-year quarter. EBITDA margin came in at 39% in the second quarter compared with the year-earlier quarter’s 28%.
Teck Resources Ltd Price, Consensus and EPS Surprise
Teck Resources Ltd price-consensus-eps-surprise-chart | Teck Resources Ltd Quote
Segment Performance
The Steelmaking Coal segment reported sales of $904 million, reflecting year-over-year growth of 58%. The segment reported an operating profit of $155 million against the operating loss of $8.6 in the prior-year quarter.
Copper segment’s net sales surged 129% year over year to $667 million in the June quarter. The segment’s operating profit was $339.8 million in the reported quarter, reflecting a turnaround from the operating loss of $8 million in the prior-year quarter.
The Zinc segment’s net sales were up 9% year over year to $375 million during the reported quarter. The segment’s operating profit climbed 21% to $26 million during this period.
The Energy segment’s net sales surged 321% year over year to $133 million in the second quarter. The segment reported an operating loss of $41 million against the prior-year quarter’s profit of $19.4 million.
Financials
Teck Resources generated cash flow of $467 million from operating activities in the second quarter of 2021 compared with $216 million in the prior-year quarter. The company had cash and cash equivalents of $254 million as of Jun 30, 2021, compared with $324 million as of Dec 31, 2020. Total debt was $5,622 million at the end of the second quarter compared with $4,417 million as of Dec 31, 2020.
Project Updates
The construction of its flagship QB2 copper growth project continues to advance well with best quarterly progress so far, despite the COVID-19 impact in Chile. The company expects this project to progress 60% in early August. First production is expected in the second half of 2022. The Neptune port upgrade is now in the site wide ramp-up phase, which continues as planned.
Guidance
Teck Resources expects steelmaking coal production between 25 million tons and 26 million tons for 2021. Copper production is anticipated within 275,000-290,000 tons. Zinc production is projected between 605,000 tons and 630,000 tons. The company estimates Bitumen production for 2021 between 6.6 million barrels and 8.1 million barrels.
For the third quarter, at Red Dog, the company expects sales of zinc in concentrate to be 180,000-200,000 tons. Steelmaking coal sales are projected to be 5.7-6.1 million tons for the third quarter. The company will continue to prioritize available spot sales to China. The sales to Chinese customers are priced at the CFR China price assessments, which are higher than FOB Australia price assessments, thereby boosting its overall realized price.
Price Performance
The company’s shares have soared 120.2% over the past year, outperforming the industry’s rally of 35.6%.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
Teck Resources currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Nucor Corporation NUE, Cabot Corporation CBT and Dow Inc. DOW.
Nucor has a projected earnings growth rate of around 455.4% for the current year. The company’s shares have soared 130.6% in a year. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Cabot has an expected earnings growth rate of around 137.5% for the current fiscal. The company’s shares have surged 42.4% in the past year. It currently flaunts a Zacks Rank #1.
Dow has an expected earnings growth rate of around 403.01% for the current year. The company’s shares have gained 45.4% in the past year. It currently carries a Zacks Rank #2.
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The market expects Great Panther Silver (GPL) to deliver a year-over-year decline in earnings on lower 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 stock might move higher if these key numbers top expectations in the upcoming earnings report. 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 silver mining company is expected to post quarterly loss of $0.02 per share in its upcoming report, which represents a year-over-year change of -150%.
Revenues are expected to be $46.1 million, down 31.2% from the year-ago quarter.
Estimate Revisions Trend
The consensus EPS estimate for the quarter has been revised 50% 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.
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 Panther?
For Great Panther, 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 #5.
So, this combination makes it difficult to conclusively predict that Great Panther 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 Great Panther would post earnings of $0.01 per share when it actually produced earnings of $0.01, delivering no surprise.
Over the last four quarters, the company has beaten consensus EPS estimates just once.
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 Panther 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.
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(Bloomberg) — Anglo American Plc still wants full control of some of its most profitable units, but said it will wait for the right time.
While joint ventures in mining are common, Anglo’s position is more unique in that it’s the majority shareholder in two public South African companies that are also among its best earners.
Anglo owns 79% of Anglo American Platinum Ltd., which reported record first-half profits this week. It also controls Kumba Iron Ore Ltd.. Both companies are listed in Johannesburg.
There has long been speculation that Anglo could look look to take complete control of the businesses. The company’s Chief Executive Officer, Mark Cutifani, said Wednesday the company should remain patient.
“We always look at those sort of minorities,” he said on call with investors and analysts. “If I said those sorts of things remained important opportunities for us, then the answer is yes. It has to be done in the right way, it has to be done at the right time.”
Anglo earlier reported its highest ever interim profit and said it will spend $4.1 billion on dividends and share buybacks as the century-old miner joined its peers in cashing in on surging commodity prices.
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VANCOUVER, BC / ACCESSWIRE / July 29, 2021 / Commerce Resources Corp. (TSXv:CCE, FSE:D7H0, OTCQX:CMRZF) (the "Company" or "Commerce") is pleased to announce that it has collared its first drill hole of the 2021 field program at the Ashram Rare Earth and Fluorspar Deposit, located in northern Quebec. The program is being managed by Dahrouge Geological Consulting Ltd. of Edmonton, AB, with drilling operations being carried out by Logan Drilling Ltd. of Stewiacke, NS.
The Company has mobilized the drill rig to the Ashram Deposit ahead of schedule following the completion of several drill holes by Saville Resources at the Mallard and Miranna prospects, located within 1 km of Ashram, where Saville Resources holds an Option from the Company to earn up to a 75% interest. The overlap of the two programs is resulting in significant cost savings through shared drill rig mobilization, camp operation, and other mutual program support costs.
A total of 2,500 m of NQ size drilling over 15 to 20 holes is anticipated at the Ashram Deposit. The holes will target further delineation of the deposit, which remains open to the north and south, as well as target an increase in resource confidence from inferred/indicated to indicated/measured in areas where the neodymium-praseodymium ("NdPr") contents are highest. Depending on the location within the deposit, the NdPr distribution typical varies from 21-24+% with monazite being the dominant carrier of the rare earth elements ("REEs").
The Company continues to advance the core relog and geological model of the deposit, which will guide the drill program to meet its objectives. In addition to the drilling, the Company continues to collect remaining field data that is required for the Prefeasibility Study (PFS) and is planning to complete the remaining Qualified Person site visits later in the program. In parallel to the field and PFS programs, the Company continues to advance its flowsheet development at Hazen Research in Colorado, with other components of the PFS currently being advanced by third party consultants (BBA Engineering, CIMA+, etc).
The Company notes that it will carry-out its field programs while adhering to all federal, provincial, and regional restrictions in place due to the COVID-19 pandemic. The Company has successfully navigated the process to enter Nunavik and obtained authorization to complete its planned field activities. Mineral exploration has been recognized as an essential service in Canada and the Province of Quebec.
NI 43-101 Disclosure
Darren L. Smith, M.Sc., P.Geo., Dahrouge Geological Consulting Ltd., a Permit holder with the Ordre des Géologues du Québec and Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
About Commerce Resources Corp.
Commerce Resources Corp. is a junior mineral resource company focused on the development of the Ashram Rare Earth and Fluorspar Deposit located in Quebec, Canada. The Company is positioning to be one of the lowest cost rare earth producers globally, with a specific focus on being a long-term supplier of mixed rare earth carbonate and/or NdPr oxide to the global market. The Ashram Deposit is characterized by simple rare earth (monazite, bastnaesite, xenotime) and gangue (carbonates) mineralogy, a large tonnage resource at favourable grade, and has demonstrated the production of high-grade (>45% REO) mineral concentrates at high recovery (>70%) in line with active global producers. In addition to being one of the largest rare earth deposits globally, Ashram is also one of the largest fluorspar deposits globally and has the potential to be a long-term supplier to the met-spar and acid-spar markets.
For more information, please visit the corporate website at www.commerceresources.com or email info@commerceresources.com.
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.
"Chris Grove"
Chris Grove
President and Director
Tel: 604.484.2700
Email: cgrove@commerceresources.com
Web: http://www.commerceresources.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.
Forward Looking Statements
This news release contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. Forward looking statements in this press release include our plans to drill at the Ashram project, the expected results allowing us to delineate the mineralization, and plans for environmental work; and that we could become a long term supplier of mixed rare earth carbonate and/or NdPr oxide. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include that the methods proposed don't work as well as expected, the drilling may not go as planned or start when expected, we may experience difficulties in drilling and carrying out environmental work; changing costs for mining and processing; increased capital costs; the timing and content of upcoming work programs; geological interpretations based on drilling that may change with more detailed information; potential process methods and mineral recoveries assumption based on limited test work and by comparison to what are considered analogous deposits that with further test work may not be comparable; testing of our process may not prove successful and even it tests are successful, the economic and other outcomes may not be as expected; the availability of labour, equipment and markets for the products produced; and despite the current expected viability of the project, conditions changing such that the minerals on our property cannot be economically mined, or that the required permits to build and operate the envisaged mine can be obtained. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
SOURCE: Commerce Resources Corp.
View source version on accesswire.com:
https://www.accesswire.com/657427/Commerce-Resources-Corp-Commences-Summer-Drill-Program-at-the-Ashram-Rare-Earth-and-Fluorspar-Deposit
(Bloomberg) — The world’s second-largest iron ore producer assured the market Thursday that it can still reach its annual production guidance. But it won’t be all plain sailing.
Vale SA continues to recover from a 2019 dam disaster that cost it the title of world No. 1 supplier. On a call with analysts Thursday, Chief Executive Officer Eduardo Bartolomeo said he remains confident of churning out somewhere between 315 million and 335 million metric tons this year as a return to full capacity at key mines and the restart of a tailings dam point to second-half growth.
Beneath that belief are a few areas of risk. While reiterating the output target, Vale cut its end-2021 production capacity forecast to 343 million tons from 350 million tons due to potential tailings and permitting issues at other mines.
Such risks have helped send iron ore prices to near record highs this year after demand bounced back in the pandemic recovery. Vale’s battle to recover from its Brazilian dam woes makes it a major swing factor on the supply side.
Still, the company continues to target a return to 400 million ton-capacity next year as well as building buffers of more than 50 million tons in the future. That doesn’t mean it’s going to flood the market, given the CEO’s value-over-volume mantra: “Were not going to put value on the market if we’re not rewarded for that.”
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CNX Resources Corporation CNX reported second-quarter 2021 adjusted earnings of 18 cents per share, which lagged the Zacks Consensus Estimate of 25 cents by 28%.
Revenues
Second-quarter revenues were $359 million, which lagged the Zacks Consensus Estimate of $390 million by 7.9%. Nonetheless, the top line increased 140.9% from the year-ago quarter.
Highlights of the Release
Average selling price for the quarter was $2.60 per thousand cubic feet equivalent (Mcfe), up 3.2% from the year-ago figure of $2.52. For the reported quarter, total production costs were down 1.8% year over year to $1.60 per Mcfe due to proper cost-management measures implemented by the company. Its efficient management of expenses continues to reduce outflow and boost margins.
Total second-quarter production volumes were 137.9 billion cubic feet equivalent, up 20.4% year over year. Interest expenses for the reported quarter were $39.46 million, down 14.5% from the year-ago period.
During the quarter, CNX Resources repurchased shares worth $23 million. The remaining amount available under the existing stock repurchase program is $215 million and is not subject to an expiration date.
CNX Resources Corporation. Price, Consensus and EPS Surprise
CNX Resources Corporation. price-consensus-eps-surprise-chart | CNX Resources Corporation. Quote
Financial Update
As of Jun 30, 2021, CNX Resources had cash and cash equivalents of $39.4 million, up from $15.6 million on Dec 31, 2020.
Total long-term debt as of Jun 30, 2021 was $2,265.9 million, lower than $2,401.4 million on Dec 31, 2020.
Second-quarter 2021 cash from operating activities was $239.2 million, up 66.3% from $143.8 million in the year-ago period. Free cash flow for the year was $117 million.
Capital expenditure for second-quarter 2021 was $129 million.
Guidance
CNX Resources reiterated capital expenditure view for 2021 in the range of $430-$470 million. The company still expects 2021 production volumes in the range of 540-570 billions of cubic feet equivalent. Nearly 94% expected gas production for 2021 is hedged by the company.
CNX Resources raised free cash flow expectation for 2021 to $475 million from $450 million projected earlier.
Zacks Rank
CNX Resources currently has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Upcoming Releases
Devon Energy Corporation DVN is scheduled to announce second-quarter 2021 results on Aug 3. The Zacks Consensus Estimate for the bottom line for the quarter to be reported is pegged at 53 cents per share.
ConocoPhillips COP is scheduled to report second-quarter 2021 results on Aug 3. The Zacks Consensus Estimate for the bottom line for the quarter to be reported is pegged at $1.15 per share.
Occidental Petroleum Corporation OXY is scheduled to report second-quarter 2021 results on Aug 3. The Zacks Consensus Estimate for the quarter is pegged at break-even earnings per share.
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CNX Resources Corporation. (CNX) came out with quarterly earnings of $0.18 per share, missing the Zacks Consensus Estimate of $0.25 per share. This compares to earnings of $0.13 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -28%. A quarter ago, it was expected that this company would post earnings of $0.28 per share when it actually produced earnings of $0.36, delivering a surprise of 28.57%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
CNX Resources Corporation.Which belongs to the Zacks Oil and Gas – Exploration and Production – United States industry, posted revenues of $359 million for the quarter ended June 2021, missing the Zacks Consensus Estimate by 8.04%. This compares to year-ago revenues of $148.84 million. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
CNX Resources Corporation. Shares have added about 19% since the beginning of the year versus the S&P 500's gain of 17.2%.
What's Next for CNX Resources Corporation.
While CNX Resources Corporation. Has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for CNX Resources Corporation. Was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.26 on $411.63 million in revenues for the coming quarter and $1.17 on $1.66 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Oil and Gas – Exploration and Production – United States is currently in the top 7% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
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Vancouver, British Columbia–(Newsfile Corp. – July 29, 2021) – Wealth Minerals Ltd. (TSXV: WML) (OTCQB: WMLLF) (SSE: WMLCL) (FSE: EJZN) (the "Company" or "Wealth") announces the appointment of Jürgen M. Geissinger to the Advisory Board. Mr. Geissinger is a renowned German automobile sector manager with a keen interest in current technological changes changing the face of the auto industry. Mr. Geissinger was Chief Executive Officer of Senvion S.A., a Hamburg based wind turbine manufacturer. Previously, he was also the CEO of Schaeffler AG, a German based supplier of bearing solutions and precision components for automotive and industrial applications. Under his tenure, Schaeffler AG grew sales 4 times to EUR14 billion. He was a leader in the consolidation of the German auto components industry with several high-profile corporate actions, including the acquisition of FAG Kugelfischer, a leading bearing manufacturing company, and Continental AG, a global tire manufacturer. By the time Mr. Geissinger left Schaeffler AG, it was the third-largest automotive supplier in the world.
Mr. Geissinger currently sits on the Board of MTU Aero Engines AG (50% owned by Daimler-Benz). He was also a board member of Continental AG and Swedish Manufacturing concern SANDVIK AB.
Hendrik van Alphen, CEO of Wealth, commented, "Mr. Geissinger is a tremendous addition to the Wealth team. He has the experience and contacts to raise the profile of our Company amongst the largest source of demand growth for lithium in the world, automobile manufacturers. We all look forward to working with him."
About Wealth Minerals Ltd.
Wealth is a mineral resource company with interests in Canada, Mexico and Chile. The Company's main focus is the acquisition and development of lithium projects in South America. To date, the Company has positioned itself to work alongside existing producers in the prolific Atacama salar, where the Company has a substantial licenses package.
Lithium market dynamics and a rapidly increasing metal price are the result of profound structural issues with the industry meeting anticipated future demand. Wealth is positioning itself to be a major beneficiary of this future mismatch of supply and demand. The Company also maintains and continues to evaluate a portfolio of precious and base metal exploration-stage projects.
For further details on the Company, readers are referred to the Company's website (www.wealthminerals.com) and its Canadian regulatory filings on SEDAR at www.sedar.com.
On Behalf of the Board of Directors ofWEALTH MINERALS LTD.
"Hendrik van Alphen"Hendrik van AlphenChief Executive Officer
For further information, please contact: Marla RitchiePhone: 604-331-0096 Ext. 3886 or 604-638-3886E-mail: info@wealthminerals.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.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, anticipated exploration program results from exploration activities, the Company's expectation that it will be able to enter into agreements to acquire interests in additional mineral properties, the discovery and delineation of mineral deposits/resources/reserves, the closing and amount of the Placement, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: "believe", "expect", "anticipate", "intend", "estimate", "postulate" and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, operating and technical difficulties in connection with mineral exploration and development activities, actual results of exploration activities, the estimation or realization of mineral reserves and mineral resources, the timing and amount of estimated future production, the costs of production, capital expenditures, the costs and timing of the development of new deposits, requirements for additional capital, future prices of lithium, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, lack of investor interest in the Placement, accidents, labour disputes and other risks of the mining industry, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of the Company to obtain any necessary permits, consents, approvals or authorizations, including acceptance by the TSX-V, required for the Placement, the timing and possible outcome of any pending litigation, environmental issues and liabilities, and risks related to joint venture operations, and other risks and uncertainties disclosed in the Company's latest interim Management Discussion and Analysis and filed with certain securities commissions in Canada. All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91605
(Adds copper, gold production, industry background)
July 29 (Reuters) – Canadian miner Turquoise Hill Resources Ltd reported a 33.5% jump in second-quarter profit on Thursday, buoyed by a higher copper and gold output from the Oyu Tolgoi mine in Mongolia.
Prices of the red metal hit a record high in May, boosted by demand from electric-vehicle makers and other clean-energy investments. Bullion prices also rose in the second quarter as a weak dollar lifted its safe-haven appeal amid pandemic-related uncertainty.
Turquoise's second-quarter copper production from Oyu Tolgoi stood at 36,735 tonnes, compared with 36,495 ounces last year. Its gold output more than tripled to 113,054 ounces.
Rio Tinto-controlled Turquoise Hill said income attributable to the owners of the company was $96.9 million, or 48 cents per share, for the three months ended June 30, compared with $72.6 million, or 36 cents per share, a year earlier.
Oyu Tolgoi is one of the world's largest copper-gold-silver mines. Rio owns 51% of Turquoise Hill, which in turn owns 66% of the mine. The rest of the mine is owned by the government of Mongolia.
(Reporting by Rithika Krishna in Bengaluru; Editing by Devika Syamnath)
London-listed companies announced a slew of buybacks and dividends on Thursday, as management teams begin to pass on gains made from the global bounce back from COVID-19.
Interim results season begins in the UK this week and most companies have so far reported strong results, buoyed by the reopening of economies around the world as the COVID-19 pandemic begins to come under control. Firms are now rewarding shareholders for their faith during what was an exceptionally difficult 2020.
FTSE firms announced investor payouts worth more than £7bn on Thursday alone. Notable capital returns include:
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$4.1bn (£2.9bn) in dividends and buybacks at Anglo American (AAL.L);
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a £1bn interim dividend at Diageo (DGE.L);
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a £500m share buyback plan at BAE Systems (BA.L) and dividend worth roughly £290m;
The flurry of payout news helped the FTSE 100 (^FTSE) rise 0.7% on Thursday, despite a rallying pound.
"No one would begrudge investors heading home to pop open a bottle of fizz – it’s just been that kind of a day," said Danni Hewson, a financial analyst at AJ Bell. "A bumper crop of earnings bolstered by news of some hefty dividend pay outs and nothing too challenging emerging from across the Atlantic."
News of the payout blitz comes a day after miner Rio Tinto (RIO.L) announced a record $9.1bn (£6.5bn) dividend. The blockbuster payout – its biggest ever – is worth more than roughly a quarter of FTSE 100 companies.
Barclays (BARC.L), meanwhile, confirmed a £340m dividend payout for investors and announced a £500m share buyback programme on Wednesday.
The return of dividends and buybacks will provide cheer to investors who endured a lean 2020. Last year was the worst for UK dividends in a decade, according to Link Group. Payouts rebounded 50% to £25.7bn in the second quarter, Link said earlier this week.
Watch: What is inheritance tax?
Alliance has the potential to develop commercial technologies and sources of isotopes needed for a new domestic medical supply chain
LAKEWOOD, Colo., July 29, 2021 /CNW/ – Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) ("Energy Fuels" or the "Company") is pleased to announce the execution of a Strategic Alliance Agreement ("Alliance") with RadTran, LLC ("RadTran") to evaluate the recovery of thorium, and potentially radium, from the Company's existing rare earth carbonate ("RE Carbonate") and uranium process streams for use in the production of medical isotopes for emerging targeted alpha therapy ("TAT") cancer therapeutics. This initiative will complement the Company's existing uranium and RE Carbonate businesses, as it will investigate the recovery of isotopes in existing process streams at Energy Fuels' White Mesa Mill in Utah (the "Mill") for medical purposes. RadTran is a Denver, Colorado-based technology development company focused on closing critical gaps in the procurement of medical isotopes for these applications.
Uranium and thorium are long-lived (long "half life"), naturally occurring radioactive elements that decay into a series of different elements through the successive loss of alpha or beta particles. Certain elements in or derived from the uranium and thorium decay chains have short half-lives and emit alpha particles. These alpha emitting isotopes are currently being studied by major pharmaceutical companies developing therapies to treat cancer on a cellular level, while minimizing damage to surrounding healthy tissue. However, existing domestic and global supplies of these isotopes are in short supply, and existing methods of production are costly and currently unable to scale-up to meet widespread demand as new drugs are developed and approved in the U.S., Europe and around the World. These are major roadblocks in the research and development of new TAT drugs, as pharmaceutical companies wait for scalable and affordable production technologies to become available.
The Mill can represent a possible solution to this medical supply chain issue. The Mill is the only licensed and operating conventional uranium mill in the U.S., and it recently began production of RE Carbonate from natural monazite sands. Monazite sands, natural uranium ores, and certain other feed sources for the Mill contain thorium-232 ("Th-232") and radium-226 ("Ra-226"), which would normally be disposed of permanently in the Mill's tailings impoundments following processing for uranium and RE Carbonate recovery. As an initial step in this medical isotope initiative, Energy Fuels and RadTran will evaluate the technical and economic feasibility of recovering Th-232, and potentially Ra-226, from the Mill's natural monazite and other existing feeds, subject to receipt of any required licenses, permits and regulatory approvals. These isotopes are a necessary precursor to the specific medical isotopes needed by pharmaceutical companies for their emerging TAT cancer therapeutics, making this initiative the potential beginning of an important new domestic medical supply chain.
If this initial step is feasible, and subject to receipt of any required licenses, permits and regulatory approvals, Energy Fuels and RadTran will then evaluate the feasibility of recovering radium-228 ("Ra-228") from the Th-232 and thorium-228 ("Th-228") from the Ra-228 at the Mill using RadTran technologies, with the backing of the Pacific Northwest National Laboratory ("PNNL") in Richland, Washington. The recovered Ra-228, Th-228, and potentially Ra-226, would then be sold to pharmaceutical companies and others to produce the short-lived isotopes which are the leading medically attractive TAT isotopes for the treatment of cancer, including lead-212 ("Pb-212"), actinium-225 ("Ac-225"), bismuth-213 ("Bi-213"), radium-224 ("Ra-224"), and radium-223 ("Ra-223").
"The Alliance between Energy Fuels and RadTran is remarkable as it aims to alleviate the major bottleneck in the targeted alpha therapy market. Upon the successful production of these isotopes at the Mill, this Alliance will allow pharmaceutical companies who are devoping targeted alpha therapies to progress through clinical trials and deploy therapeutics commercially without the hinderance of isotope supply," stated Dr. Saleem Drera, Founder and CEO of RadTran.
If successful, this Alliance has the potential to generate significant future cashflow for Energy Fuels in the medical isotope industry. In addition, Energy Fuels can support cancer research and the creation of a new, U.S.-based medical supply chain that adheres to the highest global standards for human rights, sustainability, safety and environmental protection. This initiative is also highly complementary to the Company's existing businesses, as the uranium and rare earth feeds Energy Fuels currently processes contain the required thorium and radium. Energy Fuels is seeking to put these isotopes to beneficial human use, rather than losing them to permanent disposal.
"At its heart, the Energy Fuels' Alliance with RadTran is about maximizing the value and human benefit of our existing uranium and rare earth feeds at the White Mesa Mill," stated Mark S. Chalmers, President and CEO of Energy Fuels. "Energy Fuels has a long track record of ethically and responsibly processing a wide variety of naturally occurring radioactive materials at the White Mesa Mill for the recovery of uranium, and more recently, rare earths. In our view, recovering medical isotopes from these same streams, that would otherwise be lost to direct disposal, is a great way to maximally use all of our feeds. Indeed, we are essentially replicating China's 'monazite plan.' China purchases monazite from around the globe, recovers the uranium for use in their nuclear industry, recovers the thorium presumably for use in their nuclear and pharmaceutical industries, and recovers the rare earths for processing into advanced materials needed for various clean energy and advanced technologies. Our White Mesa Mill is a facility unique to the United States that has the potential to do the same thing at world standards.
"We believe Energy Fuels has the potential to create a domestic supply of thorium and possibly radium that can be harvested using RadTran's technologies for use in the production of the next generation of cancer therapies, a potentially multi-billion dollar industry. And we would be accomplishing this in a way that is environmentally beneficial and highly congruent with Energy Fuels' recycling and sustainability goals. We look forward to working with RadTran on this important initiative."
ABOUT ENERGY FUELS
Energy Fuels is a leading U.S.-based uranium mining company, supplying U3O8 to major nuclear utilities. Energy Fuels also produces vanadium from certain of its projects, as market conditions warrant, and is ramping up to commercial-scale production of REE carbonate in 2021. Its corporate offices are in Lakewood, Colorado, near Denver, and all of its assets and employees are in the United States. Energy Fuels holds three of America's key uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch in-situ recovery ("ISR") Project in Wyoming, and the Alta Mesa ISR Project in Texas. The White Mesa Mill is the only conventional uranium mill operating in the U.S. today, has a licensed capacity of over 8 million pounds of U3O8 per year, has the ability to produce vanadium when market conditions warrant, as well as REE carbonate from various uranium-bearing ores. The Nichols Ranch ISR Project is on standby and has a licensed capacity of 2 million pounds of U3O8 per year. The Alta Mesa ISR Project is also on standby and has a licensed capacity of 1.5 million pounds of U3O8per year. In addition to the above production facilities, Energy Fuels also has one of the largest NI 43-101 compliant uranium resource portfolios in the U.S. and several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development. The primary trading market for Energy Fuels' common shares is the NYSE American under the trading symbol "UUUU," and the Company's common shares are also listed on the Toronto Stock Exchange under the trading symbol "EFR." Energy Fuels' website is www.energyfuels.com.
CAUTIONARY STATEMENTS REGARDING FORWARD LOOKING STATEMENTS
This news release contains "forward-looking information" within the meaning of applicable securities laws in Canada and the United States. Forward-looking information may relate to future events or future performance of Energy Fuels. All statements in this release, other than statements of historical facts, with respect to Energy Fuels' objectives and goals, as well as statements with respect to its beliefs, plans, objectives, expectations, anticipations, estimates, and intentions, are forward-looking information. Specific forward-looking statements in this discussion include, but are not limited to, the following: any expectation that the Company's evaluation of thorium and potentially radium recovery at the Mill will be successful; any expectation that the potential recovery of any other isotopes from any thorium and radium recovered at the Mill will be feasible; any expectation that any thorium, radium and other isotopes can be recovered at the Mill and sold on a commercial basis; any expectation that this initiative will alleviate the major bottleneck in the targeted alpha therapy market; any expectation that, upon the successful production of these isotopes at the Mill, this initiative will allow pharmaceutical companies who are devoping targeted alpha therapies to progress through clinical trials and deploy therapeutics commercially without the hinderance of isotope supply; any expectation that this initiative has the potential to generate significant future cashflow for Energy Fuels in the medical isotope industry, or that this next generation of cancer therapies could be a potentially multi-billion dollar industry; any expectation that all required licenses, permits and regulatory approvals will be obtained on a timely basis or at all; and any expectation that this initiative may result in the creation of a new, U.S.-based medical supply chain that adheres to the highest global standards for human rights, sustainability, safety and environmental protection. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects", "predicts", "intends", "anticipates" or "believes", or variations of, or the negatives of, such words and phrases, or state that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved. This information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements include risks associated with: processing difficulties and upsets; available supplies of monazite sands; the capital and operating costs associated with the recovery of thorium, radium and other isotopes at the Mill; licensing, permitting and regulatory delays; litigation risks; competition from others; and market factors, including future demand for and prices realized from the sale of radium, thorium or other isotopes produced at the Mill. Forward-looking statements contained herein are made as of the date of this news release, and Energy Fuels disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. 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, the reader is cautioned not to place undue reliance on forward-looking statements. Energy Fuels assume no obligation to update the information in this communication, except as otherwise required by law.
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SOURCE Energy Fuels Inc.
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IBD Stock Of The Day Steel Dynamics blasted past a buy point as steelmakers and miners run higher amid strong earnings and durable demand.
Vancouver, British Columbia and Johannesburg, South Africa–(Newsfile Corp. – July 29, 2021) – Platinum Group Metals Ltd. (TSX: PTM) (NYSE American: PLG) ("Platinum Group" "PTM" or the "Company") announces the resignation of the Company's CEO, President and director, R. Michael Jones, effective immediately. Mr. Jones has agreed to continue as a consultant to Platinum Group until December 31, 2021 to provide transition assistance. Frank Hallam, a director and, most recently, CFO of the Company, has agreed to assume the position of President and CEO on an interim basis.
With Mr. Hallam assuming the role of Interim President and CEO, Greg Blair, CPA, CA, will assume the role of Interim CFO. Mr. Blair has been with the Company for over 11 years and most recently served as Financial Controller. Mimy Fernandez-Maldonado will assume the role of Corporate Secretary also effective immediately.
The Board of Directors of Platinum Group wishes to thank Mr. Jones for his contributions to the Company over the years.
Mr. Hallam has a lengthy history as a senior executive and director with several successful publicly listed mining companies. He co-founded Platinum Group and has worked at the Company for approximately 19 years. He was also a co-founder of MAG Silver Corp. and West Timmins Mining Inc. Mr. Hallam previously served as an auditor in the mining practice of Coopers and Lybrand (now PricewaterhouseCoopers) and is a qualified CPA, CA, and holds a degree in Business Administration. Mr. Hallam commented, "Mike Jones and I have worked together for many years, including on the team that discovered the Company's Waterberg Project. He made a significant contribution to the concepts and genesis of the Waterberg discovery. Looking forward, we will continue with our commitment to the development of this world class asset, and I wish Mike well in his future endeavours."
About Platinum Group Metals Ltd. and Waterberg Project
Platinum Group Metals Ltd. is the operator of the Waterberg Project, a bulk underground palladium and platinum deposit located in South Africa. The Waterberg Project was discovered by Platinum Group and is being jointly developed with Impala Platinum Holdings Ltd., Mnombo Wethu Consultants (Pty) Ltd. ("Mnombo"), Japan Oil, Gas and Metals National Corporation and Hanwa Co. Ltd.
On behalf of the Board of
Platinum Group Metals Ltd.
Frank R. Hallam
Interim CEO and Director
For further information contact:
Kris Begic, VP, Corporate Development
Platinum Group Metals Ltd., Vancouver
Tel: (604) 899-5450 / Toll Free: (866) 899-5450
www.platinumgroupmetals.net
Disclosure
The Toronto Stock Exchange and the NYSE American have not reviewed and do not accept responsibility for the accuracy or adequacy of this news release, which has been prepared by management.
This press release may contain forward-looking information within the meaning of Canadian securities laws and forward-looking statements within the meaning of U.S. securities laws (collectively "forward-looking statements"). Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. Forward-looking statements in this press release include, but are not limited to the Waterberg Project becoming one of the largest and potentially lowest cash cost underground platinum group metals mines globally, financing and mine development of the Waterberg Project, the market for platinum group metals, the potential of platinum group metals in batteries, and Lion Battery Technologies' development of next generation battery technology. Although the Company believes any forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors. The Company directs readers to the risk factors described in the Company's Form 20-F annual report, annual information form and other filings with the Securities and Exchange Commission and Canadian securities regulators, which may be viewed at www.sec.gov and www.sedar.com, respectively.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91606
In this article, we discuss the 15 stocks that will double in 2021. If you want to skip our detailed analysis of these stocks, go directly to the 5 Stocks that Will Double In 2021.
The economy of 2020 was closely linked to the COVID-19 pandemic. However, the vaccine rollout at the turn of the year buoyed hopes of a return to normalcy and an accelerated recovery from the virus. Resort companies, construction firms, and even mining stocks registered a dramatic increase in price over the first few months of the year as it appeared that vaccines were effective and the virus spread slowed. In the past few days, the spread of the Delta variant of the virus, resistant to vaccines, has once again raised fears of prolonged lockdowns.
In the midst of this delicately poised situation, investors who learned their lessons from the March 2020 lockdown, have already started looking for new and exciting opportunities in the market that will offer them handsome returns even in the bear market, dumping cyclical stocks in the process. Some of the firms that these investors should take note of as they navigate the changing market dynamics include ViacomCBS Inc. (NASDAQ: VIAC), Zynga Inc. (NASDAQ: ZNGA), and MongoDB, Inc. (NASDAQ: MDB), among others.
Companies working in the technology, biopharma, and ecommerce industries are all expected to weather the impact of the coronavirus lockdown and perform better than expected if the economy does fully reopen. Some of these companies, most of which beat market expectations on revenue and earnings per share in the first quarter, are discussed below. It has become very hard for even the market experts to keep up with the ever-evolving world of stocks. Tech-led disruption has been a key factor in this regard.
The entire hedge fund industry is feeling the reverberations of the changing financial landscape. Its reputation has been tarnished in the last decade, during which its hedged returns couldn’t keep up with the unhedged returns of the market indices. On the other hand, Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 124 percentage points since March 2017. Between March 2017 and May 29th 2021 our monthly newsletter’s stock picks returned 206.8%, vs. 91.0% for the SPY. Our stock picks outperformed the market by more than 115 percentage points (see the details here). That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox.
With this context in mind, here is our list of the 15 stocks that will double in 2021. These rankings are based on the list of firms that finance websites such as Investor Place, The Motley Fool, and Nasdaq think will double this fiscal year. After the initial selection, these companies were then further classified according to analyst ratings and basic business fundamentals. Only firms that have positive ratings or have had their price targets raised by investment advisories in the past few weeks were considered. Special importance was assigned to the recent earnings results of each firm, with those that beat market estimates on earnings per share and revenue featuring heavily. In addition, hedge fund sentiment was also included as a classifier in a bid to improve the reliability of the list. Even after all this exhaustive research, it is pertinent to mention that it is very difficult to predict which stocks will double in a fiscal year. Even market experts with years of academic and field experience find it hard to predict market direction at any given time. However, by filtering out the best of the best based on the metrics available, investors can better focus their energies.
Stocks that Will Double In 2021
15. Allakos Inc. (NASDAQ: ALLK)
Number of Hedge Fund Holders: 13
Allakos Inc. (NASDAQ: ALLK) is a clinical stage biopharmaceutical firm. It is placed fifteenth on our list of 15 stocks that will double in 2021. The stock has returned 1.4% to investors over the past year. The firm is based in California. On May 23, investment advisory Jefferies identified the stock as one on its radar as biotech prices picked up and mergers and acquisitions increased following a slow start to the year. The advisory said biotech firms would start to finalize deals in the next three to five months.
On May 15, investment advisory Cowen initiated coverage of Allakos Inc. (NASDAQ: ALLK) stock with an Outperform rating. Joseph Thome, an analyst at the advisory, issued the ratings update.
Out of the hedge funds being tracked by Insider Monkey, San Francisco-based investment firm Redmile Group is a leading shareholder in Allakos Inc. (NASDAQ: ALLK) with 2.4 million shares worth more than $277 million.
Just like ViacomCBS Inc. (NASDAQ: VIAC), Zynga Inc. (NASDAQ: ZNGA), and MongoDB, Inc. (NASDAQ: MDB), Allakos Inc. (NASDAQ: ALLK) is one of the stocks that could double in 2021.
14. Funko, Inc. (NASDAQ: FNKO)
Number of Hedge Fund Holders: 14
Funko, Inc. (NASDAQ: FNKO) is ranked fourteenth on our list of 15 stocks that will double in 2021. The company’s shares have returned 230% to investors over the past year. The firm markets pop culture consumer products. It is headquartered in Washington. In earnings results for the first quarter, posted on May 6, the firm reported earnings per share of $0.24, beating estimates by $0.13. The revenue over the period was more than $189 million, up 38% year-on-year.
On May 13, investment advisory Bank of America upgraded Funko, Inc. (NASDAQ: FNKO) stock to Buy from Underperform, raising the price target to $30 from $12, noting the firm represented a significant long-term opportunity for investors.
Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm Woodson Capital Management is a leading shareholder in Funko, Inc. (NASDAQ: FNKO) with 3 million shares worth more than $59 million.
13. Paramount Group, Inc. (NYSE: PGRE)
Number of Hedge Fund Holders: 17
Paramount Group, Inc. (NYSE: PGRE) stock has returned 34% to investors over the past year. It is placed thirteenth on our list of 15 stocks that will double in 2021. The firm operates a real estate investment trust that deals exclusively in high-class properties in premier business districts. On July 27, the firm posted earnings for the second quarter, reporting FFO of $0.22, beating market estimates by $0.02. The revenue over the period was over $182 million, up more than 6% year-on-year.
On June 25, investment advisory Deutsche Bank kept a Hold rating on Paramount Group, Inc. (NYSE: PGRE) stock but raised the price target to $12 from $11, noting the firm offered potential in the post-pandemic economy.
At the end of the first quarter of 2021, 17 hedge funds in the database of Insider Monkey held stakes worth $135 million in Paramount Group, Inc. (NYSE: PGRE), down from 18 in the preceding quarter worth $68 million.
Alongside ViacomCBS Inc. (NASDAQ: VIAC), Zynga Inc. (NASDAQ: ZNGA), and MongoDB, Inc. (NASDAQ: MDB), Paramount Group, Inc. (NYSE: PGRE) is one of the stocks that could double in 2021.
12. BHP Group (NYSE: BHP)
Number of Hedge Fund Holders: 18
BHP Group (NYSE: BHP) is ranked twelfth on our list of 15 stocks that will double in 2021. The stock has offered investors returns exceeding 43% over the course of the past year. The firm is based in Australia and has interests in the natural resources business. On July 21, the firm announced that it had signed a deal with electric carmaker Tesla to provide the latter with the metal nickel that is used in numerous EV products, including batteries. The financial terms of the deal were not disclosed.
On July 8, investment advisory Berenberg upgraded BHP Group (NYSE: BHP) stock to Buy from Hold, raising the price target to 2,700 GBp from 2,200 GBp, noting that the firm had potential upside with regards to final dividend this year.
Out of the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management is a leading shareholder in BHP Group (NYSE: BHP) with 7.9 million shares worth more than $553 million.
11. Genpact Limited (NYSE: G)
Number of Hedge Fund Holders: 23
Genpact Limited (NYSE: G) is a Bermuda-based business process outsourcing firm. It is placed eleventh on our list of 15 stocks that will double in 2021. The company’s shares have offered investors returns exceeding 22% over the course of the past twelve months. On May 10, the firm posted earnings for the first quarter, reporting earnings per share of $0.59, beating market predictions by $0.11. The revenue over the period was $946 million, up more than 2.5% compared to the revenue over the same period last year.
In earnings results for the first quarter, posted on May 10, Genpact Limited (NYSE: G) reported earnings per share of $0.59, beating market predictions by $0.11. The revenue over the period was more than $946 million, up 2.5% year-on-year.
At the end of the first quarter of 2021, 23 hedge funds in the database of Insider Monkey held stakes worth $271 million in Genpact Limited (NYSE: G), down from 31 in the preceding quarter worth $340 million.
In addition to ViacomCBS Inc. (NASDAQ: VIAC), Zynga Inc. (NASDAQ: ZNGA), and MongoDB, Inc. (NASDAQ: MDB), Genpact Limited (NYSE: G) is one of the stocks that could double in 2021.
In its Q3 2020 investor letter, Third Avenue Management, an asset management firm, highlighted a few stocks and Genpact Limited (NYSE: G) was one of them. Here is what the fund said:
“Long-time holding Genpact was sold after the NAV discount narrowed, and due to strong performance, it was no longer a small-cap company. The investment provided handsome returns to Fund shareholders over the years, but given its market cap, valuation, and other opportunities available, selling the position and recycling the capital seemed prudent.”
10. Deciphera Pharmaceuticals, Inc. (NASDAQ: DCPH)
Number of Hedge Fund Holders: 23
Deciphera Pharmaceuticals, Inc. (NASDAQ: DCPH) is ranked tenth on our list of 15 stocks that will double in 2021. The firm makes and sells biopharma products and is headquartered in Waltham. On June 30, the firm announced that it had administered the first dose of a new cancer drug to a patient in the early-stage trial of DCC-3116. Earlier in May, the company had posted earnings for the first quarter, comfortably beating market predictions on revenue and earnings per share for the first quarter.
On March 30, investment advisory Credit Suisse initiated coverage of Deciphera Pharmaceuticals, Inc. (NASDAQ: DCPH) stock with an Outperform rating and a price target of $78, appreciating the pipeline assets of the firm that offered great potential.
At the end of the first quarter of 2021, 23 hedge funds in the database of Insider Monkey held stakes worth $511 million in Deciphera Pharmaceuticals, Inc. (NASDAQ: DCPH), down from 36 in the previous quarter worth $673 million.
9. Affimed N.V. (NASDAQ: AFMD)
Number of Hedge Fund Holders: 23
Affimed N.V. (NASDAQ: AFMD) is placed ninth on our list of 15 stocks that will double in 2021. The company’s shares have returned 92% to investors in the past twelve months. The firm is a German biopharma company focusing on cancer immunotherapies. On July 1, the firm posted earnings for the first quarter, reporting earnings per share of -€0.01, beating market estimates by €0.09. The revenue over the period was €11.6 million, up more than 120% compared to the revenue over the same period last year and beating estimates by €2.4 million.
On April 12, investment advisory BMO Capital maintained an Outperform rating on Affimed N.V. (NASDAQ: AFMD) stock and raised the price target to $15 from $12, highlighting recent positive results from studies of drugs being developed by the company.
Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm Consonance Capital Management is a leading shareholder in Affimed N.V. (NASDAQ: AFMD) with 6 million shares worth more than $47 million.
Just like ViacomCBS Inc. (NASDAQ: VIAC), Zynga Inc. (NASDAQ: ZNGA), and MongoDB, Inc. (NASDAQ: MDB), Affimed N.V. (NASDAQ: AFMD) is one of the stocks that could double in 2021.
8. Nomad Foods Limited (NYSE: NOMD)
Number of Hedge Fund Holders: 25
Nomad Foods Limited (NYSE: NOMD) stock has returned 16% to investors in the past year. It is ranked eighth on our list of 15 stocks that will double in 2021. The company makes and sells frozen foods and is based in the United Kingdom. On May 6, the firm posted earnings for the first quarter, reporting earnings per share of €0.47, beating market estimates by €0.08. The revenue over the period was €707 million, up 2% compared to the revenue over the same period last year and beating estimates by over €5 million.
On March 30, investment advisory Deutsche Bank maintained a Buy rating on Nomad Foods Limited (NYSE: NOMD) stock and raised the price target to $35 from $32, appreciating a decision of the firm to purchase a frozen foods business.
Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm Renaissance Technologies is a leading shareholder in Nomad Foods Limited (NYSE: NOMD) with 4.6 million shares worth more than $128 million.
In its Q4 2020 investor letter, FAM Funds, an asset management firm, highlighted a few stocks and Nomad Foods Limited (NYSE: NOMD) was one of them. Here is what the fund said:
“The proceeds(from a sold equity) were primarily invested into a new idea — Nomad Foods (NOMD), a producer of branded frozen food products in Europe. Product categories include fish, vegetables, and meat substitutes. Management’s plan is to continually improve the brands they control while seeking opportunities to buy and upgrade similar companies. In the past, key members of senior management pursued this strategy at other businesses and created significant returns for shareholders. As COVID-19 rolled across Europe, Nomad became one of the few beneficiaries of the pandemic as consumers stopped visiting restaurants and increasingly ate at home.”
7. TechnipFMC plc (NYSE: FTI)
Number of Hedge Fund Holders: 25
TechnipFMC plc (NYSE: FTI) is a United Kingdom-based oil and gas firm. It is placed seventh on our list of 15 stocks that will double in 2021. The company’s shares have offered investors returns exceeding 32% over the course of the past year. On July 21, the firm posted earnings for the second quarter, reporting earnings per share of -$0.06, just missing estimates by $0.05. The revenue over the period was more than $1.6 billion, up over 3% compared to the revenue over the same period last year.
On June 17, investment advisory Cowen reiterated an Outperform rating on TechnipFMC plc (NYSE: FTI) stock and raised the price target to $12 from $11, seeing an upside to orders and estimates for the company in the coming months.
Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm Pzena Investment Management is a leading shareholder in TechnipFMC plc (NYSE: FTI) with 22.9 million shares worth more than $177 million.
Alongside ViacomCBS Inc. (NASDAQ: VIAC), Zynga Inc. (NASDAQ: ZNGA), and MongoDB, Inc. (NASDAQ: MDB), TechnipFMC plc (NYSE: FTI) is one of the stocks that could double in 2021.
In its Q1 2020 investor letter, Antipodes Partners, an asset management firm, highlighted a few stocks and TechnipFMC plc (NYSE: FTI) was one of them. Here is what the fund said:
“We also added to TechnipFMC as its valuation became increasingly attractive. While the near-term outlook for service companies is challenged, Technip will be somewhat protected by its superior backlog and strong balance sheet.”
6. Revolve Group, Inc. (NYSE: RVLV)
Number of Hedge Fund Holders: 29
Revolve Group, Inc. (NYSE: RVLV) is ranked sixth on our list of 15 stocks that will double in 2021. The stock has offered investors returns exceeding 324% over the course of the past twelve months. The firm markets fashion apparel online and is based in California. The company posted earnings for the first quarter on May 6, reporting earnings per share of $0.30, beating estimates by $0.17. The revenue over the period was more than $178 million, up 22% year-on-year and beating estimates by $21 million.
On June 29, investment advisory B Riley maintained a Buy rating on Revolve Group, Inc. (NYSE: RVLV) stock and raised the price target to $80 from $58, appreciating the growth of online footwear retailers that was expected to continue in the near future.
At the end of the first quarter of 2021, 29 hedge funds in the database of Insider Monkey held stakes worth $256 million in Revolve Group, Inc. (NYSE: RVLV), up from 24 in the preceding quarter worth $182 million.
In its Q1 2021 investor letter, Polen Capital, an asset management firm, highlighted a few stocks and Revolve Group, Inc. (NYSE: RVLV) was one of them. Here is what the fund said:
“Revolve is a leading, next-generation online retailer of apparel, accessories, and beauty for fashion-forward people. During the pandemic, Revolve pivoted its offerings and strategy to adapt to the new normal. The company expanded into adjacent categories like beauty, activewear, and intimates, enabling it to serve its customers’ more immediate needs, increase wallet share, and touch more aspects of their lives. This strategy shift was a success. The company delivered record profitability and free cash flow during Q4 2020.
The leadership team intends to use this strong position to prioritize several key strategic investments as the world recovers from COVID-19, including strengthening their Owned Brands portfolio, expanding marketing, and accelerating brand building around the globe. The company reported a record high Net Promoter Score (NPS) for 2020. In geographies where COVID-19 is considered generally under control, the company has seen a return of customer demand for their traditional product categories as well.”
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Disclose. None. 15 Stocks that Will Double In 2021 is originally published on Insider Monkey.
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