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Compass Minerals (CMP) came out with quarterly earnings of $0.63 per share, beating the Zacks Consensus Estimate of $0.39 per share. This compares to earnings of $1.49 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 61.54%. A quarter ago, it was expected that this minerals producer would post a loss of $0.05 per share when it actually produced a loss of $0.55, delivering a surprise of -1,000%.

Over the last four quarters, the company has surpassed consensus EPS estimates just once.

Compass , which belongs to the Zacks Chemical – Diversified industry, posted revenues of $494.6 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 19.50%. This compares to year-ago revenues of $364 million. The company has topped consensus revenue estimates three 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.

Compass shares have added about 24.1% since the beginning of the year versus the S&P 500's decline of -4.7%.

What's Next for Compass?

While Compass 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 Compass: 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 -$0.17 on $209.96 million in revenues for the coming quarter and -$0.53 on $1.16 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, Chemical – Diversified is currently in the bottom 24% 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.

Innospec (IOSP), another stock in the same industry, has yet to report results for the quarter ended March 2025. The results are expected to be released on May 8.

This specialty chemicals company is expected to post quarterly earnings of $1.40 per share in its upcoming report, which represents a year-over-year change of -20%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Innospec's revenues are expected to be $459.3 million, down 8.2% from the year-ago quarter.

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Compass Minerals International, Inc. (CMP) : Free Stock Analysis Report

Innospec Inc. (IOSP) : Free Stock Analysis Report

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OVERLAND PARK, Kan. (AP) — OVERLAND PARK, Kan. (AP) — Compass Minerals International Inc. (CMP) on Wednesday reported a loss of $32 million in its fiscal second quarter.

The Overland Park, Kansas-based company said it had a loss of 77 cents per share. Earnings, adjusted for one-time gains and costs, came to 63 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.

The minerals producer posted revenue of $494.6 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $413.9 million.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CMP at https://www.zacks.com/ap/CMP

OVERLAND PARK, Kan., May 07, 2025–(BUSINESS WIRE)–Compass Minerals (NYSE: CMP), a leading global provider of essential minerals, today reported fiscal 2025 second-quarter results.

Unless otherwise noted, it should be assumed that time periods referenced below are on a fiscal-year basis.

MANAGEMENT COMMENTARY

"Compass Minerals continues to make progress on its back-to-basics strategy, a key tenet of which is optimization. This is a core principle that we will prioritize as we continue on our path to become a more efficient and profitable organization, and we must apply it in all aspects of our business," said Edward C. Dowling Jr., president and CEO. "The second quarter provides an opportunity to illustrate the benefits that can be derived from focusing on that tenet as well as explain steps we are taking to further optimize the business."

"Last year at this time, we laid out a plan to curtail mining production aimed at reducing and optimizing salt inventory levels throughout the 2024/2025 North American highway deicing season. While this would result in higher costs for a period of time, successful execution on that plan would allow us to convert excess inventory into cash and contribute to improving the supply/demand balance in a market that was long supply following consecutive weak winters. Fast forward to today, I'm pleased to report that we executed well against our plan. We realized a working capital release of nearly $150 million out of inventory in the second quarter, which contributed to the company reducing net total debt by approximately $170 million or 18% in the quarter. Year over year, North American highway deicing inventory value and volumes for the company are down 47% and 59%, respectively. As a result of the stronger winter weather that we saw in the quarter, a number of depots across the company's network were fully depleted coming out of the deicing season. Moreover, we believe that there were significant competitor and customer drawdowns of salt inventory across markets we serve. We are in the process of ramping up production, which we would expect to allow for lower unit costs going forward. As we approach the 2025/2026 bid season, we're well positioned to optimize production and inventory levels across our platform and maximize value that we realize for this essential mineral product going forward."

"In late March of this year, we announced actions to further optimize the cost structure of the company and focus its activities on its core Salt and Plant Nutrition businesses. The company eliminated over 10% of its corporate workforce and announced that we were beginning to wind down Fortress North America, steps that will allow the company to generate additional cash flow and accelerate deleveraging. We also announced that we would continue to scrutinize activities across the company to identify additional opportunities to further rationalize our cost structure."

"Compass Minerals has exceptional and unique assets that are virtually irreplaceable, enjoy durable competitive advantages and have strong leadership positions in our respective marketplaces. As we continue to execute on our back-to-basics strategy, we will unlock the intrinsic value of our business."

QUARTERLY FINANCIAL RESULTS
(in millions, except per share data)	Three Months EndedMarch 31,						Six Months EndedMarch 31,
(in millions, except per share data)		2025			2024			2025			2024
Revenue	$	494.6		$	364.0		$	801.8		$	705.7
Operating loss		(3.1	)		(39.3	)		(2.6	)		(92.9	)
Adjusted operating earnings*		54.8			73.8			56.2			98.6
Adjusted EBITDA*		84.1			95.7			116.2			157.9
Net loss		(32.0	)		(38.9	)		(55.6	)		(114.2	)
Net loss per diluted share		(0.77	)		(0.94	)		(1.34	)		(2.77	)
Adjusted net earnings*		25.7			74.2			2.8			77.3
Adjusted net earnings* per diluted share		0.63			1.78			0.07			1.85
*Non-GAAP financial measure. Reconciliations to the most directly comparable GAAP financial measure are provided in tables at the end of this press release.

COMMENTARY ON ITEMS IMPACTING COMPARABILITY

Comparability of reported results for Compass Minerals was impacted by the performance of Fortress North America (Fortress), the company's fire retardant business. It was announced in late March of 2025 that Compass Minerals was winding down this business. The company has recognized non-cash impairments related to Fortress of $53.0 million and $47.6 million in the second quarters of 2025 and 2024, respectively. Additionally, non-cash gains related to the decline in valuation of the contingent consideration liability associated with the acquisition of Fortress were $7.9 million and $23.8 million, respectively, in the second quarters of 2025 and 2024. As of March 31, 2025, the fair value of the contingent consideration liability is zero.

The company's presentation of adjusted EBITDA adjusts for loss on impairments; changes in the valuation of the contingent consideration liability are not adjusted out of reported adjusted EBITDA consistent with accounting guidance. Given the significance of the adjustment to the reported periods and for ease of comparability, the following table is provided to present the impact to adjusted EBITDA for changes in the valuation of the contingent consideration liability. As the fair value of this liability is zero as of March 31, 2025, the following reconciliation is not expected in future reporting periods.

(in millions, except per share data)	Three Months EndedMarch 31,
(in millions, except per share data)		2025			2024
Adjusted EBITDA, as reported*	$	84.1		$	95.7
Impact of change in Fortress contingent consideration liability		(7.9	)		(23.8	)
Adjusted EBITDA, as modified	$	76.2		$	71.9
*Non-GAAP financial measure. Reconciliations to the most directly comparable GAAP financial measure are provided in tables at the end of this press release.

SALT BUSINESS COMMENTARY

Reducing North American highway deicing salt inventory volumes has been a focus for Compass Minerals, which led to the company's decision to curtail production at its Goderich mine, and to a lesser extent at the Cote Blanche mine, in 2024. This curtailment of production resulted in higher cost production per ton, due to lower fixed cost absorption, being inventoried throughout 2024. As the company sells this higher cost 2024 inventory, there is an adverse impact to cost per ton that is reflected in the financial results below. Consistent with prior comments, Compass Minerals believes the benefits from reducing excess inventory, including harvesting working capital tied up inventory and contributing to a rebalancing of supply across the market, outweigh the near-term production cost per ton impacts from curtailing production. The company made significant progress on this front in the quarter, with North American highway deicing inventory values and volumes down 47% and 59%, respectively, year over year.

Operating earnings for the quarter were essentially flat at $66.9 million from the prior-year period. Adjusted EBITDA increased to $85.5 million, up 4% from the prior-year period. Adjusted EBITDA per ton declined 30% to $16.75 as a result of the company's deliberate actions to prioritize inventory rationalization of North American highway deicing salt. Adjusted EBITDA per ton is anticipated to improve as highway deicing salt produced at more normalized production levels is sold in future periods.

Salt revenue totaled $432.7 million and was up 39% year over year, driven by a 47% year-over-year sales volume increase, partially offset by a 5% decrease in average sales price. In the highway deicing business, the company realized a 5% decrease in average highway deicing selling price that reflects high inventory levels across the broader market entering the 2024/2025 highway deicing season. Highway deicing sales volumes increased 51% due to stronger winter weather conditions across the company's served markets year over year. Consumer and industrial (C&I) pricing rose 5% year over year to approximately $207 per ton and sales volumes increased by 24% primarily driven by higher retail deicing demand across the company's served markets.

Distribution costs per ton decreased 7% year over year, while all-in product costs (defined at the segment level as sales to external customers less distribution costs less operating earnings) per ton rose 8% from the comparable prior-year quarter due to the production cost dynamics for 2024-produced salt described above.

PLANT NUTRITION BUSINESS COMMENTARY

Plant Nutrition revenue for the quarter totaled $58.3 million, up 16% year over year on strong sales volume. This was led by improved sales volumes, which grew by 19,000 tons, a 26% improvement year over year. The average segment sales price for the quarter was down 8% year over year to approximately $626 per ton, reflecting supply conditions of potassium-based fertilizers globally. Per-unit distribution costs for the quarter increased 13% year over year due to an increase in sales in markets further away from the company's core California markets. Reported all-in product costs per ton in the prior period included a non-cash impairment of goodwill in the Plant Nutrition business, resulting in a decrease of 58% year over year to approximately $544 per ton. Excluding the prior year goodwill impairment, all-in product cost per ton decreased by 8%.

Operating loss in the Plant Nutrition business was $1.8 million for the quarter, compared to operating loss of $53.0 million in the prior-year quarter, which includes the aforementioned goodwill impairment. Adjusted EBITDA declined to $5.6 million versus $7.3 million last year.

CASH FLOW AND FINANCIAL POSITION

Net cash provided by operating activities amounted to $182.8 million for the six months ended March 31, 2025, compared to $33.9 million in the prior year. A significant reduction in North American salt inventory levels drove the significant improvement year over year.

Net cash used in investing activities was $35.9 million for the six months ended March 31, 2025, down from $79.7 million in the prior year principally driven by lower capital spending. Total capital spending for the six months ended March 31, 2025 was $35.8 million.

Net cash used in financing activities was $116.8 million for the six months ended March 31, 2025, which included net debt payments of $109.8 million. In the prior year, net cash used in financing activities reflected net borrowings of $72.1 million.

The company ended the quarter with $328.6 million of liquidity, comprised of $49.5 million in cash and cash equivalents and $279.1 million of availability under its $325 million revolving credit facility.

UPDATED FISCAL 2025 OUTLOOK

The company's salt and fertilizer production in Canada is qualified under the United States-Mexico-Canada (USMCA) trade agreement. Accordingly, Compass Minerals' exports from Canada into the United States are exempt from tariffs at this time.

Salt Segment
	2025 Range1
Highway deicing sales volumes (thousands of tons)	8,550 – 8,900
Consumer and industrial sales volumes (thousands of tons)	1,900 – 2,000
Total salt sales volumes (thousands of tons)	10,450 – 10,900

Revenue (in millions)	$975 – $1,050
Adj. EBITDA (in millions)	$215 – $230

(1)

Range for fiscal 2025 reflects the company's committed book of business for the period and assumes an average historical sales-to-commitment outcomes.

The company's outlook has been revised to reflect the completion of the North American highway deicing season. Stronger winter weather in January and February boosted the forecast for sales volumes for the year.

Plant Nutrition Segment
	2025 Range
Sales volumes (thousands of tons)	295 – 315
Revenue (in millions)	$180 – $200
Adj. EBITDA (in millions)	$17 – $24

Guidance for the Plant Nutrition segment is unchanged from the outlook provided in February of 2025.

Corporate
	2025 Range
	Total1
Adj. EBITDA (in millions)	($59) – ($52)

(1)

Includes $3 to $5 million in cash expenses related to Fortress.

Guidance for Corporate includes corporate expenses in support of the company's core businesses, Fortress financial results, and the results of DeepStore, the company's records services business in the U.K. The outlook has been updated to reflect recent actions to align the company's cost structure with current business needs. Included in the above is $7.9 million of non-cash gain related to the decline in the fair value of the Fortress contingent consideration liability discussed above.

Total Compass Minerals
	2025 Adjusted EBITDA
	Salt	Plant Nutrition	Corporate1	Total
Adj. EBITDA (in millions)	$215 – $230	$17 – $24	($59) – ($52)	$173 – $202

	2025 Capital Expenditures
				Total
Capital expenditures (in millions)				$75 – $85

(1)

Includes financial contribution from DeepStore and Fortress.

Total planned capital expenditures are unchanged from the company's previously provided guidance. The company is committed to managing capital expenditures so that they align with the cash generation performance of the business.

Other Assumptions
($ in millions)	2025 Range
Depreciation, depletion and amortization	$105 – $115
Interest expense, net	$67 – $72
Effective income tax rate (excl. valuation allowance)	13% – 18%

Guidance for the 2025 effective income tax rate reflects the income mix by country with income recognized in foreign jurisdictions offset by losses recognized in the U.S.

CONFERENCE CALL

Compass Minerals will discuss its results on a conference call tomorrow morning, Thursday, May 8, at 9:30 a.m. ET (8:30 a.m. CT). To access the conference call, please visit the company’s website at investors.compassminerals.com or dial 800-715-9871. Callers must provide the conference ID number 7896827. Outside of the U.S. and Canada, callers may dial 646-307-1963. Replays of the call will be available on the company’s website.

A supporting corporate presentation with 2025 second-quarter results is available at investors.compassminerals.com.

About Compass Minerals

Compass Minerals (NYSE: CMP) is a leading global provider of essential minerals focused on safely delivering where and when it matters to help solve nature’s challenges for customers and communities. The company’s salt products help keep roadways safe during winter weather and are used in numerous other consumer, industrial, chemical and agricultural applications. Its plant nutrition products help improve the quality and yield of crops while supporting sustainable agriculture. Compass Minerals operates 12 production and packaging facilities with nearly 1,800 employees throughout the U.S., Canada and the U.K. Visit compassminerals.com for more information about the company and its products.

Forward-Looking Statements and Other Disclaimers

This press release may contain forward-looking statements, including, without limitation, statements about future efficiency and profitability, reduction of salt inventory volumes, cost optimization, Fortress North America wind down, cash flow, deleveraging, competitive advantages, efforts to unlock intrinsic value, the opportunity to and potential benefits of refinancing, and the company's outlook for 2025, including its expectations regarding sales volumes, revenue, Adjusted EBITDA, depreciation, depletion, and amortization, interest expense, tax rates, and capital expenditures. Forward-looking statements are those that predict or describe future events or trends and that do not relate solely to historical matters. The company uses words such as "may," "would," "could," "should," "will," "likely," "expect," "anticipate," "believe," "intend," "plan," "forecast," "outlook," "project," "estimate" and similar expressions suggesting future outcomes or events to identify forward-looking statements or forward-looking information. These statements are based on the company’s current expectations and involve risks and uncertainties that could cause the company’s actual results to differ materially. The differences could be caused by a number of factors, including without limitation (i) weather conditions, (ii) inflation, the cost and availability of transportation for the distribution of the company’s products and foreign exchange rates, (iii) pressure on prices and impact from competitive products, and (iv) any inability by the company to successfully implement its strategic priorities or its cost-saving or enterprise optimization initiatives. For further information on these and other risks and uncertainties that may affect the company’s business, see the "Risk Factors" and "Management’s Discussion and Analysis of Financial Condition and Results of Operations" sections of the company’s Amended Annual Report on Form 10-K for the period ended Sept. 30, 2024, and its Quarterly Reports on Form 10-Q for the quarters ended Dec. 31, 2024 and March 31, 2025, filed or to be filed with the SEC, as well as the company's other SEC filings. The company undertakes no obligation to update any forward-looking statements made in this press release to reflect future events or developments, except as required by law. Because it is not possible to predict or identify all such factors, this list cannot be considered a complete set of all potential risks or uncertainties.

Non-GAAP Measures

In addition to using U.S. generally accepted accounting principles ("GAAP") financial measures, management uses a variety of non-GAAP financial measures described below to evaluate the company’s and its operating segments’ performance. While the consolidated financial statements provide an understanding of the company’s overall results of operations, financial condition and cash flows, management analyzes components of the consolidated financial statements to identify certain trends and evaluate specific performance areas.

Management uses EBITDA, EBITDA adjusted for items which management believes are not indicative of the company’s ongoing operating performance ("Adjusted EBITDA") and EBITDA margin to evaluate the operating performance of the company’s core business operations because its resource allocation, financing methods and cost of capital, and income tax positions are managed at a corporate level, apart from the activities of the operating segments, and the operating facilities are located in different taxing jurisdictions, which can cause considerable variation in net earnings. Management also uses adjusted operating earnings, adjusted operating margin, adjusted net earnings, and adjusted net earnings per diluted share, which eliminate the impact of certain items that management does not consider indicative of underlying operating performance. The presentation of these measures should not be construed as an inference that future results will be unaffected by unusual or non-recurring items. Management believes these non-GAAP financial measures provide management and investors with additional information that is helpful when evaluating underlying performance. EBITDA and Adjusted EBITDA exclude interest expense, income taxes and depreciation, depletion and amortization, each of which are an essential element of the company’s cost structure and cannot be eliminated. In addition, Adjusted EBITDA and Adjusted EBITDA margin exclude certain cash and non-cash items, including stock-based compensation, impairment charges and certain restructuring charges. Consequently, any measure that excludes these elements has material limitations. The non-GAAP financial measures used by management should not be considered in isolation or as a substitute for net earnings, operating earnings, cash flows or other financial data prepared in accordance with GAAP or as a measure of overall profitability or liquidity. These measures are not necessarily comparable to similarly titled measures of other companies due to potential inconsistencies in the method of calculation. The calculation of non-GAAP financial measures as used by management is set forth in the following tables. All margin numbers are defined as the relevant measure divided by sales. The company does not provide a reconciliation of forward-looking non-GAAP financial measures to the most directly comparable financial measures calculated and reported in accordance with GAAP, as the company is unable to estimate significant non-recurring, unusual items and/or distinct non-core initiatives without unreasonable effort. The amounts and timing of these items are uncertain and could be material to the company’s results.

Adjusted operating earnings, adjusted operating earnings margin, adjusted net earnings (loss), and adjusted net earnings (loss) per diluted share are presented as supplemental measures of the company’s performance. Management believes these measures provide management and investors with additional information that is helpful when evaluating underlying performance and comparing results on a year-over-year normalized basis. These measures eliminate the impact of certain items that management does not consider indicative of underlying operating performance. These adjustments are itemized below. Adjusted net earnings (loss) per diluted share is adjusted net earnings (loss) divided by weighted average diluted shares outstanding. You are encouraged to evaluate the adjustments itemized above and the reasons management considers them appropriate for supplemental analysis. In evaluating these measures you should be aware that in the future the company may incur expenses that are the same as or similar to some of the adjustments presented below.

Special Items Impacting the Three Months Ended March 31, 2025 (unaudited, in millions, except per share data)
Item Description	Segment	Line Item	Amount		TaxEffect(1)			After Tax		EPS Impact
Product recall costs	Salt	Product cost and Other operating income	$	0.9	$	(0.2	)	$	0.7	$	0.02
Restructuring charges(2)	Salt	Other operating income		0.3		—			0.3		0.01
Restructuring charges(2)	Corporate and Other	Other operating income		3.7		—			3.7		0.09
Impairments	Corporate and Other	Loss on impairments, net		53.0		—			53.0		1.28
Total			$	57.9	$	(0.2	)	$	57.7	$	1.40

Special Items Impacting the Three Months Ended March 31, 2024 (unaudited, in millions, except per share data)
Item Description	Segment	Line Item	Amount		TaxEffect(1)		After Tax		EPS Impact
Restructuring charges(2)	Corporate and Other	Other operating income	$	11.1	$	—	$	11.1	$	0.27
Restructuring charges(2)	Salt	Other operating income		0.4		—		0.4		0.01
Restructuring charges(2)	Plant Nutrition	Other operating income		0.6		—		0.6		0.01
Impairments	Corporate and Other	COGS and Loss on impairments, net		50.0		—		50.0		1.20
Goodwill impairment	Plant Nutrition	Loss on impairments, net		51.0		—		51.0		1.23
Total			$	113.1	$	—	$	113.1	$	2.72

Special Items Impacting the Six Months Ended March 31, 2025 (unaudited, in millions, except per share data)
Item Description	Segment	Line Item	Amount		TaxEffect(1)			After Tax		EPS Impact
Product recall costs	Salt	Product cost and Other operating income	$	1.8	$	(0.4	)	$	1.4	$	0.03
Restructuring charges(2)	Salt	Other operating income		0.3		—			0.3		0.01
Restructuring charges(2)	Corporate and Other	Other operating income		3.7		—			3.7		0.09
Impairments	Corporate and Other	Loss on impairments, net		53.0		—			53.0		1.28
Total			$	58.8	$	(0.4	)	$	58.4	$	1.41

Special Items Impacting the Six Months Ended March 31, 2024 (unaudited, in millions, except per share data)
Item Description	Segment	Line Item	Amount		TaxEffect(1)		After Tax		EPS Impact
Restructuring charges(2)	Corporate and Other	Other operating income	$	13.6	$	—	$	13.6	$	0.32
Restructuring charges(2)	Salt	Other operating income		0.4		—		0.4		0.01
Restructuring charges(2)	Plant Nutrition	Other operating income		1.7		—		1.7		0.04
Impairments	Corporate and Other	COGS and Loss on impairments, net		124.8		—		124.8		3.02
Goodwill impairment	Plant Nutrition	Loss on impairments, net		51.0		—		51.0		1.23
Total			$	191.5	$	—	$	191.5	$	4.62

(1)		There were no substantial income tax benefits related to these items given the U.S. valuation allowances on deferred tax assets. Applicable product recall costs reflect an impact from Canadian taxes.
(2)		Restructuring charges do not include certain reductions in stock-based compensation associated with forfeitures stemming from the restructuring activities.

Reconciliation for Adjusted Operating Earnings (unaudited, in millions)
	Three Months EndedMarch 31,						Six Months EndedMarch 31,
		2025			2024			2025			2024
Operating loss	$	(3.1	)	$	(39.3	)	$	(2.6	)	$	(92.9	)
Product recall costs(1)		0.9			—			1.8			—
Restructuring charges(2)		4.0			12.1			4.0			15.7
Loss on impairments, net(3)		53.0			101.0			53.0			175.8
Adjusted operating earnings	$	54.8		$	73.8		$	56.2		$	98.6
Sales		494.6			364.0			801.8			705.7
Operating margin		(0.6	)%		(10.8	)%		(0.3	)%		(13.2	)%
Adjusted operating margin		11.1	%		20.3	%		7.0	%		14.0	%

(1)		The company recognized costs related to a recall of food-grade salt produced at its Goderich plant.
(2)		The company incurred severance and related charges due to a reductions in workforce, changes to executive leadership and additional restructuring costs related to the exit of the Fortress fire retardant business during the three and six months ended March 31, 2025. The company also incurred severance and related charges for the three and six months ended March 31, 2024, due to reductions in workforce and changes to executive leadership and additional restructuring costs for the termination of our lithium development project.
(3)		For the three and six months ended March 31, 2025, the company recognized impairments of intangible assets related to the exit of the Fortress fire retardant business. For the three and six months ended March 31, 2024, the company recognized impairments of long-lived assets related to the termination of the lithium development project; Fortress goodwill, intangible assets and inventory; and Plant Nutrition goodwill.

Reconciliation for Adjusted Net Earnings (unaudited, in millions)
	Three Months EndedMarch 31,						Six Months EndedMarch 31,
		2025			2024			2025			2024
Net loss	$	(32.0	)	$	(38.9	)	$	(55.6	)	$	(114.2	)
Product recall costs(1)		0.9			—			1.8			—
Restructuring charges(2)		4.0			12.1			4.0			15.7
Loss on impairments, net(3)		53.0			98.6			53.0			173.4
Loss on inventory impairment(3)		—			2.4			—			2.4
Income tax effect		(0.2	)		—		$	(0.4	)		—
Adjusted net earnings	$	25.7		$	74.2		$	2.8		$	77.3

Net loss per diluted share	$	(0.77	)	$	(0.94	)	$	(1.34	)	$	(2.77	)
Adjusted net earnings per diluted share	$	0.63		$	1.78		$	0.07		$	1.85
Weighted-average common shares outstanding (in thousands):
Diluted		41,521			41,306			41,480			41,255

(1)		The company recognized costs related to a recall of food-grade salt produced at its Goderich plant. Charges for the three and six months ended March 31, 2025 were $0.9 million ($0.7 million net of tax) and $1.8 million ($1.4 million net of tax), respectively.
(2)		The company incurred severance and related charges due to a reductions in workforce, changes to executive leadership and additional restructuring costs related to the exit of the Fortress fire retardant business during the three and six months ended March 31, 2025. The company also incurred severance and related charges for the three and six months ended March 31, 2024, due to reductions in workforce and changes to executive leadership and additional restructuring costs for the termination of our lithium development project.
(3)		For the three and six months ended March 31, 2025, the company recognized impairments of intangible assets related to the exit of the Fortress fire retardant business. For the three and six months ended March 31, 2024, the company recognized impairments of long-lived assets related to the termination of the lithium development project; Fortress goodwill, intangible assets and inventory; and Plant Nutrition goodwill.

Reconciliation for EBITDA and Adjusted EBITDA (unaudited, in millions)
	Three Months EndedMarch 31,						Six Months EndedMarch 31,
		2025			2024			2025			2024
Net loss	$	(32.0	)	$	(38.9	)	$	(55.6	)	$	(114.2	)
Interest expense		18.0			17.3			34.9			33.2
Income tax expense (benefit)		9.8			(15.9	)		19.5			(12.3	)
Depreciation, depletion and amortization		26.5			26.8			53.3			52.3
EBITDA		22.3			(10.7	)		52.1			(41.0	)
Adjustments to EBITDA:
Stock-based compensation – non-cash		2.8			(4.9	)		6.7			7.0
Interest income		(0.2	)		(0.2	)		(0.6	)		(0.6	)
Gain on foreign exchange		(0.1	)		(2.5	)		(5.3	)		(0.6	)
Product recall costs(1)		0.9			—			1.8			—
Restructuring charges(2)		4.0			12.1			4.0			15.7
Loss on impairments, net(3)		53.0			101.0			53.0			175.8
Other expense, net		1.4			0.9			4.5			1.6
Adjusted EBITDA	$	84.1		$	95.7		$	116.2		$	157.9

(1)		The company recognized costs related to a recall of food-grade salt produced at its Goderich plant.
(2)		The company incurred severance and related charges due to a reductions in workforce, changes to executive leadership and additional restructuring costs related to the exit of the Fortress fire retardant business during the three and six months ended March 31, 2025. The company also incurred severance and related charges for the three and six months ended March 31, 2024, due to reductions in workforce and changes to executive leadership and additional restructuring costs for the termination of our lithium development project.
(3)		For the three and six months ended March 31, 2025, the company recognized impairments of intangible assets related to the exit of the Fortress fire retardant business. For the three and six months ended March 31, 2024, the company recognized impairments of long-lived assets related to the termination of the lithium development project; Fortress goodwill, intangible assets and inventory; and Plant Nutrition goodwill.

Salt Segment Performance (unaudited, in millions, except for sales volumes and prices per short ton)
	Three Months EndedMarch 31,						Six Months EndedMarch 31,
		2025			2024			2025			2024
Sales	$	432.7		$	310.4		$	674.9		$	584.7
Operating earnings	$	66.9		$	65.8		$	96.3		$	116.7
Operating margin		15.5	%		21.2	%		14.3	%		20.0	%
Adjusted operating earnings(1)	$	68.1		$	66.2		$	98.4		$	117.1
Adjusted operating margin(1)		15.7	%		21.3	%		14.6	%		20.0	%
EBITDA(1)	$	84.3		$	82.0		$	131.2		$	148.1
EBITDA(1) margin		19.5	%		26.4	%		19.4	%		25.3	%
Adjusted EBITDA(1)	$	85.5		$	82.4		$	133.3		$	148.5
Adjusted EBITDA(1) margin		19.8	%		26.5	%		19.8	%		25.4	%
Sales volumes (in thousands of tons):
Highway deicing		4,583			3,045			6,570			5,311
Consumer and industrial		522			421			1,028			1,010
Total Salt		5,105			3,466			7,598			6,321
Average prices (per ton):
Highway deicing	$	70.86		$	74.72		$	70.45		$	72.86
Consumer and industrial	$	206.71		$	196.93		$	206.25		$	195.77
Total Salt	$	84.76		$	89.55		$	88.83		$	92.50

(1)

Non-GAAP financial measure. Reconciliations follow in these tables.

Reconciliation for Salt Segment Adjusted Operating Earnings (unaudited, in millions)
	Three Months EndedMarch 31,						Six Months EndedMarch 31,
		2025			2024			2025			2024
Reported GAAP segment operating earnings	$	66.9		$	65.8		$	96.3		$	116.7
Restructuring charges(1)		0.3			0.4			0.3			0.4
Product recall costs(2)		0.9			—			1.8			—
Segment adjusted operating earnings	$	68.1		$	66.2		$	98.4		$	117.1
Segment sales		432.7			310.4			674.9			584.7
Segment operating margin		15.5	%		21.2	%		14.3	%		20.0	%
Segment adjusted operating margin		15.7	%		21.3	%		14.6	%		20.0	%

(1)		The company incurred severance and related charges due to a reduction of its workforce.
(2)		The company incurred costs related to a product recall of food-grade salt produced at its Goderich plant.

Reconciliation for Salt Segment EBITDA and Adjusted EBITDA (unaudited, in millions)
	Three Months EndedMarch 31,						Six Months EndedMarch 31,
		2025			2024			2025			2024
Reported GAAP segment operating earnings	$	66.9		$	65.8		$	96.3		$	116.7
Depreciation, depletion and amortization		17.4			16.2			34.9			31.4
Segment EBITDA	$	84.3		$	82.0		$	131.2		$	148.1
Restructuring charges(1)		0.3			0.4			0.3			0.4
Product recall costs(2)		0.9			—			1.8			—
Segment adjusted EBITDA	$	85.5		$	82.4		$	133.3		$	148.5
Segment sales		432.7			310.4			674.9			584.7
Segment EBITDA margin		19.5	%		26.4	%		19.4	%		25.3	%
Segment adjusted EBITDA margin		19.8	%		26.5	%		19.8	%		25.4	%

(1)		The company incurred severance and related charges due to a reduction of its workforce.
(2)		The company incurred costs related to a product recall of food-grade salt produced at its Goderich plant.

Plant Nutrition Segment Performance (unaudited, dollars in millions, except for sales volumes and prices per short ton)
	Three Months Ended March 31,						Six Months Ended March 31,
		2025			2024			2025			2024
Sales	$	58.3		$	50.1		$	119.7		$	99.8
Operating loss	$	(1.8	)	$	(53.0	)	$	(4.9	)	$	(55.3	)
Operating margin		(3.1	)%		(105.8	)%		(4.1	)%		(55.4	)%
Adjusted operating loss(1)	$	(1.8	)	$	(1.4	)	$	(4.9	)	$	(2.6	)
Adjusted operating margin(1)		(3.1	)%		(2.8	)%		(4.1	)%		(2.6	)%
EBITDA(1)	$	5.6		$	(44.3	)	$	10.0		$	(38.2	)
EBITDA(1) margin		9.6	%		(88.4	)%		8.4	%		(38.3	)%
Adjusted EBITDA(1)	$	5.6		$	7.3		$	10.0		$	14.5
Adjusted EBITDA(1) margin		9.6	%		14.6	%		8.4	%		14.5	%
Sales volumes (in thousands of tons)		93			74			195			149
Average price (per ton)	$	626.02		$	680.43		$	613.61		$	670.39

(1)

Non-GAAP financial measure. Reconciliations follow in these tables.

Reconciliation for Plant Nutrition Segment Adjusted Operating Loss (unaudited, in millions)
	Three Months EndedMarch 31,						Six Months EndedMarch 31,
		2025			2024			2025			2024
Reported GAAP segment operating loss	$	(1.8	)	$	(53.0	)	$	(4.9	)	$	(55.3	)
Restructuring charges(1)		—			0.6			—			1.7
Loss on goodwill impairment(2)		—			51.0			—			51.0
Segment adjusted operating loss	$	(1.8	)	$	(1.4	)	$	(4.9	)	$	(2.6	)
Segment sales		58.3			50.1			119.7			99.8
Segment operating margin		(3.1	)%		(105.8	)%		(4.1	)%		(55.4	)%
Segment adjusted operating margin		(3.1	)%		(2.8	)%		(4.1	)%		(2.6	)%

(1)		The company incurred severance and related charges due to a reduction of its workforce.
(2)		The company recognized a goodwill impairment during the three and six months ended March 31, 2024.

Reconciliation for Plant Nutrition Segment EBITDA and Adjusted EBITDA (unaudited, in millions)
	Three Months EndedMarch 31,						Six Months EndedMarch 31,
		2025			2024			2025			2024
Reported GAAP segment operating loss	$	(1.8	)	$	(53.0	)	$	(4.9	)	$	(55.3	)
Depreciation, depletion and amortization		7.4			8.7			14.9			17.1
Segment EBITDA	$	5.6		$	(44.3	)	$	10.0		$	(38.2	)
Restructuring charges(1)		—			0.6			—			1.7
Loss on goodwill impairment(2)		—			51.0			—			51.0
Segment adjusted EBITDA	$	5.6		$	7.3		$	10.0		$	14.5
Segment sales		58.3			50.1			119.7			99.8
Segment EBITDA margin		9.6	%		(88.4	)%		8.4	%		(38.3	)%
Segment adjusted EBITDA margin		9.6	%		14.6	%		8.4	%		14.5	%

(1)		The company incurred severance and related charges due to a reduction of its workforce.
(2)		The company recognized a goodwill impairment during the three and six months ended March 31, 2024.

COMPASS MINERALS INTERNATIONAL, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited, in millions, except share and per-share data)

	Three Months EndedMarch 31,						Six Months EndedMarch 31,
		2025			2024			2025			2024
Sales	$	494.6		$	364.0		$	801.8		$	705.7
Shipping and handling cost		151.4			110.6			232.0			201.9
Product cost		266.4			181.6			458.7			360.9
Gross profit		76.8			71.8			111.1			142.9
Selling, general and administrative expenses		29.6			33.3			62.9			79.0
Loss on impairments, net		53.0			98.6			53.0			173.4
Other operating income		(2.7	)		(20.8	)		(2.2	)		(16.6	)
Operating loss		(3.1	)		(39.3	)		(2.6	)		(92.9	)
Other (income) expense:
Interest income		(0.2	)		(0.2	)		(0.6	)		(0.6	)
Interest expense		18.0			17.3			34.9			33.2
Gain on foreign exchange		(0.1	)		(2.5	)		(5.3	)		(0.6	)
Other expense, net		1.4			0.9			4.5			1.6
Loss before income taxes		(22.2	)		(54.8	)		(36.1	)		(126.5	)
Income tax expense (benefit)		9.8			(15.9	)		19.5			(12.3	)
Net loss	$	(32.0	)	$	(38.9	)	$	(55.6	)	$	(114.2	)

Basic net loss per common share	$	(0.77	)	$	(0.94	)	$	(1.34	)	$	(2.77	)
Diluted net loss per common share	$	(0.77	)	$	(0.94	)	$	(1.34	)	$	(2.77	)
Weighted-average common shares outstanding (in thousands):
Basic		41,521			41,306			41,480			41,255
Diluted		41,521			41,306			41,480			41,255

COMPASS MINERALS INTERNATIONAL, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited, in millions)

	March 31,		Sept. 30,
	2025		2024
ASSETS
Cash and cash equivalents	$	49.5	$	20.2
Receivables, net		274.6		126.1
Inventories, net		220.7		414.1
Other current assets		20.5		26.9
Property, plant and equipment, net		774.5		806.5
Intangible and other noncurrent assets		192.1		246.3
Total assets	$	1,531.9	$	1,640.1

LIABILITIES AND STOCKHOLDERS' EQUITY
Current portion of long-term debt	$	10.0	$	7.5
Other current liabilities		297.6		209.5
Long-term debt, net of current portion		797.6		910.0
Deferred income taxes and other noncurrent liabilities		190.2		196.5
Total stockholders' equity		236.5		316.6
Total liabilities and stockholders' equity	$	1,531.9	$	1,640.1

COMPASS MINERALS INTERNATIONAL, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited, in millions)
	Six Months Ended March 31,
		2025			2024
Cash flows from operating activities:
Net loss	$	(55.6	)	$	(114.2	)
Adjustments to reconcile net loss to net cash flows provided by operating activities:
Depreciation, depletion and amortization		53.3			52.3
Amortization of deferred financing costs		2.6			1.2
Stock-based compensation		6.7			7.0
Deferred income taxes		0.8			0.8
Unrealized foreign exchange gain		(6.4	)		(0.7	)
Loss on impairments, net		53.0			173.4
Net gain from remeasurement of contingent consideration		(7.9	)		(22.2	)
Other, net		0.6			2.1
Changes in operating assets and liabilities:
Receivables		(63.8	)		(12.9	)
Inventories		183.3			27.5
Other assets		2.0			(11.8	)
Accounts payable and accrued expenses and other current liabilities		6.4			(57.2	)
Other liabilities		7.8			(11.4	)
Net cash provided by operating activities		182.8			33.9
Cash flows from investing activities:
Capital expenditures		(35.8	)		(78.6	)
Other, net		(0.1	)		(1.1	)
Net cash used in investing activities		(35.9	)		(79.7	)
Cash flows from financing activities:
Proceeds from revolving credit facility borrowings		140.3			217.2
Principal payments on revolving credit facility borrowings		(299.9	)		(176.5	)
Proceeds from issuance of long-term debt		62.1			69.4
Principal payments on long-term debt		(12.3	)		(38.0	)
Payments for contingent consideration		—			(9.1	)
Dividends paid		—			(12.7	)
Deferred financing costs		(2.4	)		(2.1	)
Shares withheld to satisfy employee tax obligations		(1.1	)		(1.8	)
Other, net		(3.5	)		(1.1	)
Net cash (used in) provided by financing activities		(116.8	)		45.3
Effect of exchange rate changes on cash and cash equivalents		(0.8	)		0.1
Net change in cash and cash equivalents		29.3			(0.4	)
Cash and cash equivalents, beginning of the year		20.2			38.7
Cash and cash equivalents, end of period	$	49.5		$	38.3

COMPASS MINERALS INTERNATIONAL, INC. SEGMENT INFORMATION (unaudited, in millions)

Three Months Ended March 31, 2025	Salt		PlantNutrition			Corporate& Other(1)			Total
Sales to external customers	$	432.7	$	58.3		$	3.6		$	494.6
Intersegment sales		—		2.3			(2.3	)		—
Shipping and handling cost		141.9		9.5			—			151.4
Operating earnings (loss)(2)(3)(4)		66.9		(1.8	)		(68.2	)		(3.1	)
Depreciation, depletion and amortization		17.4		7.4			1.7			26.5
Total assets (as of end of period)		959.2		365.7			207.0			1,531.9

Three Months Ended March 31, 2024	Salt		PlantNutrition			Corporate& Other(1)			Total
Sales to external customers	$	310.4	$	50.1		$	3.5		$	364.0
Intersegment sales		—		0.7			(0.7	)		—
Shipping and handling cost		104.0		6.6			—			110.6
Operating earnings (loss)(2)(3)(4)		65.8		(53.0	)		(52.1	)		(39.3	)
Depreciation, depletion and amortization		16.2		8.7			1.9			26.8
Total assets (as of end of period)		996.5		423.3			237.9			1,657.7

Six Months Ended March 31, 2025	Salt		PlantNutrition			Corporate& Other(1)			Total
Sales to external customers	$	674.9	$	119.7		$	7.2		$	801.8
Intersegment sales		—		5.5			(5.5	)		—
Shipping and handling cost		213.2		18.8			—			232.0
Operating earnings (loss)(2)(3)(4)		96.3		(4.9	)		(94.0	)		(2.6	)
Depreciation, depletion and amortization		34.9		14.9			3.5			53.3

Six Months Ended March 31, 2024	Salt		PlantNutrition			Corporate& Other(1)			Total
Sales to external customers	$	584.7	$	99.8		$	21.2		$	705.7
Intersegment sales		—		3.8			(3.8	)		—
Shipping and handling cost		187.7		13.6			0.6			201.9
Operating earnings (loss)(2)(3)(4)		116.7		(55.3	)		(154.3	)		(92.9	)
Depreciation, depletion and amortization		31.4		17.1			3.8			52.3

(1)		Corporate and other includes corporate entities, records management operations, the Fortress fire retardant business, equity method investments and other incidental operations and eliminations. Operating earnings (loss) for corporate and other includes indirect corporate overhead, including costs for general corporate governance and oversight, as well as costs for the human resources, information technology, legal and finance functions.
(2)		Corporate operating results were impacted by costs related to a product recall of $0.9 million and $1.8 million for the three and six months ended March 31, 2025, respectively. Corporate operating results were also impacted by declines in the valuation of the Fortress contingent consideration. The company recognized net gains of $7.9 million for the three and six months ended March 31, 2025, respectively, and $23.8 million and $22.2 million for the three and six months ended March 31, 2024, respectively, related to the Fortress contingent consideration valuation.
(3)		The company recognized an impairment of $53.0 million related to the exit of the Fortress fire retardant business for both the three and six months ended March 31, 2025, which impacted operating results. The company also recognized impairments of $101.0 million and $175.8 million related to the impairment of Plant Nutrition goodwill, Fortress assets and goodwill and lithium development assets for the three and six months ended March 31, 2024, respectively, which impacted operating results.
(4)		The company continued to take steps to align its cost structure to its current business needs. These initiatives impacted Corporate operating results and resulted in net severance and related charges, excluding stock-based compensation forfeitures, for reductions in workforce and changes to executive leadership and additional restructuring costs related to the exit of the Fortress fire retardant business of $4.0 million for both the three and six months ended March 31, 2025. The company also recognized severance and related charges, excluding stock-based compensation forfeitures, related to the termination of the company’s lithium development project of $12.1 million and $15.7 million for the three and six months ended March 31, 2024, respectively.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250507325387/en/

Contacts

Investor Contact Brent CollinsVice President, Treasurer & Investor Relations+1.913.344.9111InvestorRelations@compassminerals.com

Halifax, Nova Scotia–(Newsfile Corp. – May 7, 2025) – GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) ("GoGold", "the Company") announces the financial results for the quarter ending March 31, 2025, with Parral generating revenue of $17.6 million (all amounts are in U.S. dollars) from the sale of 555,511 silver equivalent ounces.

"Parral continued to generate significant cash flow for the Company during the quarter, providing operating cash flow of $5 million which is exceeding our spending at Los Ricos and corporate costs, and increased our cash balance by $2 million at quarter end," said Brad Langille, President and CEO. "With our bought deal financing completed in April, this gives us an approximately $135 million cash balance today putting us in a very strong financial position to execute on Los Ricos South."

Highlights for the quarter ending March 31, 2025:

Cash of $78.3 million USD, an increase of $2.0 million during the quarter
Cash flow from operations of $5.1 million
Revenue of $17.6 million on the sale of 555,511 silver equivalent ounces at an average realized price per ounce of $31.70
Production of 555,479 silver equivalent ounces, consisting of 210,289 silver ounces, 3,279 gold ounces, 155 copper tonnes, 160 zinc tonnes
Cash cost per silver equivalent ounce of $17.85
All in sustaining cost per silver equivalent ounce of $22.98

Following are tables showing summarized financial information and key performance indicators:

Summarized Consolidated Financial Information	Three months ended Mar 31					Six months ended Mar 31
(in thousands USD, except per share amounts)		2025		2024			2025		2024
Revenue	$	17,602	$	8,940		$	36,700	$	15,739
Cost of sales, including depreciation		11,067		6,517			24,585		12,584
Operating income (loss)		3,780		(123	)		7,449		(1,732	)
Net income		3,357		1,268			3,220		1,463
Basic net income per share		0.010		0.004			0.010		0.005
Cash flow provided by (used in) operations		5,145		(4,637	)		13,012		(7,665	)

Key Performance Indicators1		Three months ended Mar 31				Six months ended Mar 31
(in thousands USD, except per ounce amounts)		2025		2024		2025		2024
Total tonnes stacked		377,516		423,977		792,677		797,861
Silver equivalent ounces sold		555,511		374,140		1,181,483		679,227
Realized silver price	$	31.70	$	23.90	$	31.06	$	23.17
Adjusted AISC per silver equivalent ounce2	$	22.98	$	24.20	$	22.70	$	24.40
Adjusted Cash cost per silver equivalent ounce2	$	17.85	$	17.29	$	18.64	$	17.08

1Key performance indicators are unaudited non-GAAP measures, see reconciliation in MD&A.2Gold, copper and zinc are converted using average market prices.

This news release should be read in conjunction with the interim condensed consolidated financial statements for the quarter ended March 31, 2025, notes to the financial statements, and management's discussion and analysis for the quarter ended March 31, 2025, which have been filed on SEDAR+ and are available on the Company's website.

Technical information contained in this news release with respect to GoGold has been reviewed and approved by Mr. Bob Harris, P.Eng., who is a qualified person for the purposes of NI 43-101.

About GoGold ResourcesGoGold Resources (TSX: GGD) is a Canadian-based silver and gold producer focused on operating, developing, exploring and acquiring high quality projects in Mexico. The Company operates the Parral Tailings mine in the state of Chihuahua and has the Los Ricos South and Los Ricos North exploration and development projects in the state of Jalisco. Headquartered in Halifax, NS, GoGold is building a portfolio of low cost, high margin projects. For more information, visit gogoldresources.com.

For further information, please contact:

Steve Low, Corporate DevelopmentGoGold Resources Inc. T: 416 855 0435

Email: steve@gogoldresources.comOr visit: www.gogoldresources.com

CAUTIONARY STATEMENT:The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold within the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws or pursuant to exemptions therefrom. This release does not constitute an offer to sell or a solicitation of an offer to buy of any of GoGold's securities in the United States.

This news release may contain "forward-looking information" as defined in applicable Canadian securities legislation. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the Parral tailings project, the Los Ricos project, future operating margins, future production and processing, and future plans and objectives of GoGold, constitute forward looking information that involve various risks and uncertainties. Forward-looking information is based on a number of factors and assumptions which have been used to develop such information but which may prove to be incorrect, including, but not limited to, assumptions in connection with the continuance of GoGold and its subsidiaries as a going concern, general economic and market conditions, mineral prices, the accuracy of mineral resource estimates, and the performance of the Parral project There can be no assurance that such information will prove to be accurate and actual results and future events could differ materially from those anticipated in such forward-looking information.

Important factors that could cause actual results to differ materially from GoGold's expectations include exploration and development risks associated with the GoGold's projects, the failure to establish estimated mineral resources or mineral reserves, volatility of commodity prices, variations of recovery rates, and global economic conditions. For additional information with respect to risk factors applicable to GoGold, reference should be made to GoGold's continuous disclosure materials filed from time to time with securities regulators, including, but not limited to, GoGold's Annual Information Form. The forward-looking information contained in this release is made as of the date of this release.

Cautionary Non-GAAP Measures and Additional GAAP Measures Note that for purposes of this section, GAAP refers to IFRS. The Company believes that investors use certain non-GAAP and additional GAAP measures as indicators to assess mining companies. They are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared with GAAP. Non-GAAP and additional GAAP measures do not have a standardized meaning prescribed under IFRS and therefore may not be comparable to similar measures presented by other companies.

Additional GAAP measures that are presented on the face of the Company's consolidated statements of comprehensive income include "Operating income (loss)". These measures are intended to provide an indication of the Company's mine and operating performance. Per ounce measures are calculated by dividing the relevant mining and processing costs and total costs by the tonnes of ore processed in the period. "Adjusted cash costs per ounce" and "Adjusted all-in sustaining costs per ounce" are used in this analysis and are non-GAAP terms typically used by mining companies to assess the level of gross margin available to the Company by subtracting these costs from the unit price realized during the period. These non-GAAP terms are also used to assess the ability of a mining company to generate cash flow from operations. There may be some variation in the method of computation of these metrics as determined by the Company compared with other mining companies. In this context, "Adjusted cash costs per ounce" reflects the cash operating costs allocated from in-process and dore inventory associated with ounces of silver and gold sold in the period. "Adjusted cash costs per ounce" may vary from one period to another due to operating efficiencies, grade of material processed and silver/gold recovery rates in the period. "Adjusted all-in sustaining costs per ounce" include total cash costs, exploration, corporate and administrative, share based compensation and sustaining capital costs. For a reconciliation of non-GAAP and GAAP measures, please refer to the Management Discussion and Analysis dated May 6, 2025 for the period ended March 31, 2025, as presented on SEDAR+.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/251054

FMC recently reported a challenging first quarter with a sales decline and a net loss, alongside the affirmation of a regular quarterly dividend. The election of Steven Merkt to the Board and the appointment of Sara Velazquez Ponessa were key organizational changes. The regulatory approval for the Keenali herbicide in Peru highlights product innovation efforts. Despite these developments, FMC’s 1.33% price move aligns broadly with market trends, experiencing a similar movement amidst market fluctuations driven by tariff talks and a decline in key indices like the S&P 500 and Dow Jones. These factors collectively present a stable outlook.

FMC has 4 warning signs (and 1 which is potentially serious) we think you should know about.

NYSE:FMC Earnings Per Share Growth as at May 2025

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In light of recent developments at FMC, the organizational changes, including the board election and regulatory approvals, may bolster investor confidence but have yet to significantly impact revenue or earnings forecasts. Despite these strategic shifts, FMC’s total shareholder return over the past year stands at 38.41%, underscoring the volatility faced by the company amidst a complex operating environment.

In contrast to the broader market and the US Chemicals industry, which saw returns of 8.2% and a decline of 8.9% respectively over the same one-year period, FMC’s challenges in managing inventory and currency risks have contributed to this decline. Analysts continue to hold a consensus price target of US$47.56, which is 12.24% above the current share price of US$41.74, suggesting potential upside if the company can align its cost optimization and market expansion efforts with analysts’ expectations.

While the company’s ongoing initiatives aim to capitalize on new market opportunities, any delays in these implementations could affect projected revenue growth of 5% per year. Similarly, profit margins, expected to rise from 9.5% to 11.2% in three years, remain contingent upon effective cost management and competitive positioning. The near-term share price performance, coupled with the discrepancy between current valuation and analyst price targets, accentuates the importance of FMC’s ability to execute its strategy amidst current challenges.

Our valuation report here indicates FMC may be undervalued.

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

Companies discussed in this article include NYSE:FMC.

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

Over the last 7 days, the United States market has risen by 2.2%, contributing to an overall increase of 8.2% over the past year, with earnings forecasted to grow by 14% annually. In this context of positive market momentum, identifying small-cap stocks that are currently undervalued and have insider buying activity can offer potential opportunities for investors seeking growth in various regions across the country.

Top 10 Undervalued Small Caps With Insider Buying In The United States

Name	PE	PS	Discount to Fair Value	Value Rating
PCB Bancorp	10.2x	2.9x	48.50%	★★★★★☆
Flowco Holdings	6.8x	1.0x	38.28%	★★★★★☆
Thryv Holdings	NA	0.8x	35.74%	★★★★☆☆
West Bancorporation	12.9x	4.1x	37.30%	★★★☆☆☆
Columbus McKinnon	47.0x	0.4x	39.29%	★★★☆☆☆
MVB Financial	12.1x	1.6x	28.67%	★★★☆☆☆
Franklin Financial Services	15.4x	2.5x	33.36%	★★★☆☆☆
Union Bankshares	17.6x	3.3x	25.64%	★★★☆☆☆
Tandem Diabetes Care	NA	1.4x	-2797.51%	★★★☆☆☆
Delek US Holdings	NA	0.1x	-9.03%	★★★☆☆☆

Click here to see the full list of 92 stocks from our Undervalued US Small Caps With Insider Buying screener.

Let’s explore several standout options from the results in the screener.

Titan Machinery

Simply Wall St Value Rating: ★★★☆☆☆

Overview: Titan Machinery operates as a network of full-service agricultural and construction equipment stores, with a market cap of approximately $0.75 billion.

Operations: The company’s revenue primarily stems from its Agriculture and Construction segments, with significant contributions from Europe and Australia. Over the years, the gross profit margin has fluctuated between 14.64% and 20.31%, reflecting variations in cost management and pricing strategies. Operating expenses have consistently been a substantial portion of costs, with general and administrative expenses forming a major component of these outlays.

PE: -11.0x

Titan Machinery, a smaller player in the U.S. market, recently saw insider confidence with David Meyer purchasing 55,000 shares for US$996,600. Despite facing a net loss of US$43.76 million in Q4 2025 and projecting revenue declines for fiscal 2026, this insider activity suggests potential optimism about future prospects. However, the company relies entirely on external borrowing for funding and struggles to cover interest payments with earnings, posing financial risks amid declining revenues.

NasdaqGS:TITN Ownership Breakdown as at May 2025Compass Minerals International

Simply Wall St Value Rating: ★★★☆☆☆

Overview: Compass Minerals International operates in the production and distribution of salt and plant nutrition products, with a market capitalization of $1.51 billion.

Operations: The company generates revenue primarily from its Salt and Plant Nutrition segments, with the Salt segment being the larger contributor. Over recent periods, the gross profit margin has shown a declining trend, reaching 14.61% by the end of 2024. Operating expenses have fluctuated but remain a significant portion of costs, impacting overall profitability.

PE: -3.7x

Compass Minerals International, a smaller company in the U.S. market, presents an intriguing investment opportunity with its anticipated 63.77% annual earnings growth. Despite external borrowing as its sole funding source posing risks, recent strategic moves aim to enhance profitability by cutting costs and refocusing on core businesses like Salt and Plant Nutrition. The company reported a narrowed net loss of US$23.6 million for Q1 2024 compared to US$75.3 million previously, indicating potential operational improvements ahead.

NYSE:CMP Ownership Breakdown as at May 2025DiamondRock Hospitality

Simply Wall St Value Rating: ★★★★★☆

Overview: DiamondRock Hospitality is a real estate investment trust that owns a portfolio of hotels, with operations generating $1.13 billion in revenue.

Operations: The primary revenue stream is from hotel ownership, with recent quarterly revenues reaching $1.13 billion. Cost of goods sold (COGS) has been a significant expense, recently reported at $816 million for the same period. The gross profit margin has shown variability over time and was recorded at 27.68% in the latest quarter.

PE: 37.5x

DiamondRock Hospitality, a smaller player in the U.S. market, reported a slight dip in Q1 2025 sales at US$163.12 million but saw net income rise to US$11.86 million from US$8.33 million last year, suggesting operational improvements despite lower profit margins of 3.7%. Insider confidence is evident with recent share purchases, indicating potential optimism for future growth. The company continues to reward shareholders with regular dividends amidst earnings forecasts predicting a 29% annual growth rate, though reliant on external funding sources poses some risk.

NYSE:DRH Share price vs Value as at May 2025Summing It All Up

Click this link to deep-dive into the 92 companies within our Undervalued US Small Caps With Insider Buying screener.
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Seeking Other Investments?

Explore high-performing small cap companies that haven’t yet garnered significant analyst attention.
Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management.
Find companies with promising cash flow potential yet trading below their fair value.

Companies discussed in this article include NasdaqGS:TITN NYSE:CMP and NYSE:DRH.

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

VANCOUVER, BC, May 5, 2025 /CNW/ – Rokmaster Resources Corp. (TSXV: RKR) (OTCQB: RKMSF) (FSE: 1RR1) ("Rokmaster" or "the Company") provides an update for the Nechako Project where field work is soon to begin.

The Nechako Project is located in west-central British Columbia within the prolific Stikine terrane with several past producing deposits and advanced development projects in the region (Figure 1). Rokmaster has an option to acquire up to 100% of two road-accessible properties, the Mystery and Fox-Coconut properties, comprising the Nechako Project which when combined totals 21,755 hectares. Each property in the Nechako Project features positive historical exploration work which Rokmaster aims to build on and refine to develop compelling exploration drilling targets for significant Cu-Mo-Au mineralization in this favourable district.

The Mystery Property is the largest of the two properties and covers the Shelford Hills which was first explored by Kennco (1970) followed by BP-Selco and Canamax (1980-1983) with Noranda Exploration (1988-1989) all completing initial geochemical surveys with positive results. Since the 1970's, a group of claims termed the "Ford Claims" were held in the center of the current property during all the later work including when Quartz Mountain Resources (2012) and Copper Mountain Mining (2017) completed airborne geophysical surveys. The current Mystery Property now consolidates the Shelford hills which is a circular upland with exposures of pyrite- and clay-altered rhyolite and andesite belonging to the late cretaceous Kasalka group. A stock of monzonite outcrops in the center of the property and belongs to the fertile late cretaceous Bulkley suite which is associated with porphyry Cu-Mo-Au-Ag mineralization at the nearby Huckleberry, Ox, and Seel deposits1. On the southern margin of the monzonite stock, near the historic Ford Claims, a large soil Cu-Au anomaly is coincident with a circular magnetic feature measuring approximately 1 km in diameter (Figure 2). An exploration permit to conduct drilling on the Mystery Property was applied for in 2024 and the company anticipates approval very soon.

The Mystery Property neighbors several projects where exploration on similar Bulkley-age porphyry copper exploration targets is ongoing. Copper Quest Exploration's Rip Project is located 3 km to the south and initial drilling in 2024 (RP2024-001 and RP24-002) was reported to have intersected zones of anomalous Cu-Mo mineralization hosted in multiple phases of porphyritic intrusions and associated vein stockwork2. Vizsla Copper Corp. plans to drill their Poplar South target, located 28 km west of the Mystery Property, in 2025 following encouraging new geochemical and geophysical surveys3.

The Fox-Coconut Property is located approximately 17 km south of the Endako Mine and hosts two styles of mineralization: low-sulphidation quartz veins hosting high-grade silver-gold mineralization at the western Fox Showing and widespread propylitic alteration with broadly anomalous Cu-Mo-Au-Ag mineralization associated with a late cretaceous intrusive in the eastern Coconut area of the Property (Figure 3).

The western Fox Showing consists of a series of structurally controlled gold and silver bearing epithermal quartz veins, breccias, and stockworks hosted by felsic volcanic rocks of the Ootsa Lake Group. Channel samples collected south of the C Zone in 2024 returned up to 4.95 g/t Au and 1,001 g/ Ag over 1.0 m4. The eastern portion of the Fox-Coconut Property holds high potential for porphyry-style Cu-Mo mineralization with elevated copper-molybdenum-gold-silver values in rock samples collected throughout a large area of strong propylitic alteration. The alteration envelops newly mapped quartz feldspar porphyry and monzodiorite intrusives similar in style and appearance to the late cretaceous Cabin Lake Pluton located 17 km to the east. A recently discovered showing of subcropping boxwork quartz-limonite veining in a linear zone approximately 300 m in length returned up to 33.4 g/t Au and 6,273 g/t Ag from grab samples collected in 20195 and is a high priority target for follow-up work in 2025. An exploration permit for trenching and drilling in the Coconut area was recently approved and the Fox Showing area has an approved permit allowing for trenching and drilling.

Field work on the Nechako Project is expected to commence within two weeks depending on snow conditions. High-resolution magnetic surveys are planned over the Ford Anomaly on the Mystery Property and over the Fox Showing on the Fox-Coconut Property. Following these surveys, additional soil sampling on the Mystery Property is planned with IP surveys to commence in the summer months. On the Fox-Coconut Property, trenching on the NW structure in the eastern portion of the Property and further trenching on the Fox Showing is designed to expose and sample the high-grade Au-Ag mineralization.

John Mirko, President and CEO, comments:

"These two highly prospective properties comprise the Nechako Project in a region that was and remains a major producer of critical and precious metals. Rokmaster's focus is to explore for additional significant porphyry Cu-Mo and/or Cu-Au mineralization with efficient exploration programs to prepare robust targets for drill testing. The Mystery Property hosts a monzonite stock belonging to the fertile late cretaceous Bulkley suite with strong soil and magnetic anomalies. The Fox-Coconut Property hosts both high-grade silver-gold in quartz veins and impressive alteration and anomalous rock samples related to late cretaceous intrusive activity. We are excited to soon begin field work on the Nechako Project to develop and enhance multiple targets for drilling."

Corporate Update:

Further to the Company's news release dated April 4, 2025, the Company is extending by a further 30 days to June 3, 2025 the previously announced non-brokered financing (the "Financing") for a total of up to $550,000 involving the sale of flow-through shares and non-flow-through units.

Footnote 1: Sharman, L., Lang, J.T. and Chapman, J. eds., 2021. Porphyry deposits of the northwestern Cordillera of North America: A 25-year update. CIM Special Volume 57.

Footnote 2: Copper Quest news release dated January 23, 2025.

Footnote 3: Vizsla Copper Corp. news release dated January 15, 2025.

Footnote 4: Rokmaster Resources Corp. news release dated October 1, 2024

Footnote 5: Kennedy, T. 2019. Report on rock geochemistry for the Coconut Property. Kootenay Silver Corp. BC Assessment Report Database #38631.

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

On Behalf of the Board of Directors of

Rokmaster Resources Corp.

John Mirko,President & Chief Executive Officer.

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

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

Mystery Property (CNW Group/Rokmaster Resources Corp.)Fox Coconut Property (CNW Group/Rokmaster Resources Corp.)Rokmaster Resources Corp. logo (CNW Group/Rokmaster Resources Corp.)

SOURCE Rokmaster Resources Corp.

Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2025/05/c3609.html

Cabot (CBT) came out with quarterly earnings of $1.90 per share, beating the Zacks Consensus Estimate of $1.86 per share. This compares to earnings of $1.78 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 2.15%. A quarter ago, it was expected that this chemical company would post earnings of $1.80 per share when it actually produced earnings of $1.76, delivering a surprise of -2.22%.

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

Cabot , which belongs to the Zacks Chemical – Diversified industry, posted revenues of $936 million for the quarter ended March 2025, missing the Zacks Consensus Estimate by 9.83%. This compares to year-ago revenues of $1.02 billion. The company has topped consensus revenue estimates just once 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.

Cabot shares have lost about 14.6% since the beginning of the year versus the S&P 500's decline of -3.3%.

What's Next for Cabot?

While Cabot has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

Ahead of this earnings release, the estimate revisions trend for Cabot: unfavorable. 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 #4 (Sell) for the stock. So, the shares are expected to underperform 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 $1.92 on $1.04 billion in revenues for the coming quarter and $7.52 on $4.11 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, Chemical – Diversified is currently in the bottom 16% 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.

One other stock from the same industry, Compass Minerals (CMP), is yet to report results for the quarter ended March 2025. The results are expected to be released on May 7.

This minerals producer is expected to post quarterly earnings of $0.39 per share in its upcoming report, which represents a year-over-year change of -73.8%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Compass Minerals' revenues are expected to be $413.88 million, up 13.7% from the year-ago quarter.

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

Cabot Corporation (CBT) : Free Stock Analysis Report

Compass Minerals International, Inc. (CMP) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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With Canada’s election now behind it, a source of uncertainty has been removed, allowing policymakers to focus on trade and economic issues. As the Canadian market navigates these changes, investors are increasingly looking at diverse opportunities that may benefit from fiscal stimulus and potential interest rate cuts. Penny stocks, though an older term, continue to offer intriguing prospects for growth when backed by strong financials. These smaller or newer companies can provide unique opportunities for investors seeking value and growth outside the mainstream indices.

Top 10 Penny Stocks In Canada

Name	Share Price	Market Cap	Financial Health Rating
Westbridge Renewable Energy (TSXV:WEB)	CA$0.74	CA$74.85M	★★★★★★
NTG Clarity Networks (TSXV:NCI)	CA$1.73	CA$73.2M	★★★★★★
Silvercorp Metals (TSX:SVM)	CA$4.83	CA$1.05B	★★★★★☆
Orezone Gold (TSX:ORE)	CA$1.10	CA$576.02M	★★★★★☆
Amerigo Resources (TSX:ARG)	CA$1.71	CA$280.6M	★★★★★☆
PetroTal (TSX:TAL)	CA$0.55	CA$503.51M	★★★★★☆
Pulse Seismic (TSX:PSD)	CA$2.53	CA$128.51M	★★★★★★
McCoy Global (TSX:MCB)	CA$3.15	CA$84.74M	★★★★★★
Findev (TSXV:FDI)	CA$0.49	CA$14.04M	★★★★★★
Enterprise Group (TSX:E)	CA$1.50	CA$116.3M	★★★★★☆

Click here to see the full list of 928 stocks from our TSX Penny Stocks screener.

We’ll examine a selection from our screener results.

Eskay Mining

Simply Wall St Financial Health Rating: ★★★★★★

Overview: Eskay Mining Corp. is a natural resource company focused on the acquisition and exploration of mineral properties in British Columbia, Canada, with a market cap of CA$52.39 million.

Operations: Eskay Mining Corp. does not have any reported revenue segments as it is primarily engaged in the acquisition and exploration of mineral properties in British Columbia, Canada.

Market Cap: CA$52.39M

Eskay Mining Corp., with a market cap of CA$52.39 million, remains pre-revenue as it focuses on mineral exploration in British Columbia. The company has no debt and maintains a solid cash runway exceeding three years, despite being unprofitable. Recent developments include promising assay results from the C10-Vermillion-Ted Morris trend, revealing high-grade gold and silver prospects that could lead to significant discoveries. This area is strategically located near Newmont’s Valley of the Kings mine, enhancing its potential appeal. Eskay’s experienced management and board are steering efforts towards further exploration at these promising sites this season.

TSXV:ESK Debt to Equity History and Analysis as at May 2025Mayfair Gold

Simply Wall St Financial Health Rating: ★★★★★★

Overview: Mayfair Gold Corp. is an exploration-stage company focused on acquiring, exploring, evaluating, and developing mineral properties with a market cap of CA$196.71 million.

Operations: Mayfair Gold Corp. does not report any revenue segments as it is currently in the exploration stage, focusing on mineral property development.

Market Cap: CA$196.71M

Mayfair Gold Corp., with a market cap of CA$196.71 million, is pre-revenue and focused on advancing its Fenn-Gib gold project in Northern Ontario. The company is progressing towards a Pre-Feasibility Study (PFS) for a 4,800 tpd open pit scenario, aiming to complete it by the end of 2025. Recent efforts include metallurgical testing, environmental data review, and community engagement to support provincial permitting activities. Despite having only four months of cash runway as per last reports, Mayfair has raised additional capital recently. Leadership changes include appointing Drew Anwyll as COO to leverage his extensive mining experience for project advancement.

TSXV:MFG Financial Position Analysis as at May 2025Stillwater Critical Minerals

Simply Wall St Financial Health Rating: ★★★★★★

Overview: Stillwater Critical Minerals Corp. is a mineral exploration company focused on acquiring, exploring, and developing mineral properties in Canada and the United States, with a market cap of CA$46.58 million.

Operations: Stillwater Critical Minerals Corp. does not report any specific revenue segments as it is focused on the exploration and development of mineral properties in Canada and the United States.

Market Cap: CA$46.58M

Stillwater Critical Minerals Corp., with a market cap of CA$46.58 million, is pre-revenue and focused on mineral exploration in North America. Recent geophysical surveys at its Stillwater West project have identified multiple large-scale magmatic sulphide targets, enhancing the 3D geological model from 9.5 to 20 kilometers and providing new drill targets for mid- and high-grade mineralization expansion. Despite a highly volatile share price recently, the company remains debt-free with short-term assets exceeding liabilities. Recent capital raises have extended its cash runway beyond two months, supporting ongoing exploration efforts without significant shareholder dilution over the past year.

TSXV:PGE Revenue & Expenses Breakdown as at May 2025Where To Now?

Click this link to deep-dive into the 928 companies within our TSX Penny Stocks screener.
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Companies discussed in this article include TSXV:ESK TSXV:MFG and TSXV:PGE.

This article was originally published by Simply Wall St.

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The fact that multiple Freeport-McMoRan Inc. (NYSE:FCX) insiders offloaded a considerable amount of shares over the past year could have raised some eyebrows amongst investors. Knowing whether insiders are buying is usually more helpful when evaluating insider transactions, as insider selling can have various explanations. However, when multiple insiders sell stock over a specific duration, shareholders should take notice as that could possibly be a red flag.

Although we don't think shareholders should simply follow insider transactions, we do think it is perfectly logical to keep tabs on what insiders are doing.

This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality.

Freeport-McMoRan Insider Transactions Over The Last Year

Over the last year, we can see that the biggest insider sale was by the Chairman, Richard Adkerson, for US$2.8m worth of shares, at about US$50.78 per share. While insider selling is a negative, to us, it is more negative if the shares are sold at a lower price. It's of some comfort that this sale was conducted at a price well above the current share price, which is US$36.41. So it may not shed much light on insider confidence at current levels.

Insiders in Freeport-McMoRan didn't buy any shares in the last year. The chart below shows insider transactions (by companies and individuals) over the last year. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!

Check out our latest analysis for Freeport-McMoRan

NYSE:FCX Insider Trading Volume May 2nd 2025

If you are like me, then you will not want to miss this free list of small cap stocks that are not only being bought by insiders but also have attractive valuations.

Does Freeport-McMoRan Boast High Insider Ownership?

Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. Freeport-McMoRan insiders own about US$260m worth of shares (which is 0.5% of the company). This kind of significant ownership by insiders does generally increase the chance that the company is run in the interest of all shareholders.

So What Does This Data Suggest About Freeport-McMoRan Insiders?

There haven't been any insider transactions in the last three months — that doesn't mean much. While we feel good about high insider ownership of Freeport-McMoRan, we can't say the same about the selling of shares. While it's good to be aware of what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. For example – Freeport-McMoRan has 1 warning sign we think you should be aware of.

Of course Freeport-McMoRan may not be the best stock to buy. So you may wish to see this free collection of high quality companies.

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

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

FMC (NYSE:FMC) First Quarter 2025 ResultsKey Financial Results

Revenue: US$791.4m (down 14% from 1Q 2024).
Net loss: US$8.50m (down by 187% from US$9.80m profit in 1Q 2024).
US$0.068 loss per share (down from US$0.078 profit in 1Q 2024).

We've discovered 5 warning signs about FMC. View them for free.

NYSE:FMC Earnings and Revenue Growth May 2nd 2025

All figures shown in the chart above are for the trailing 12 month (TTM) period

FMC Earnings Insights

Looking ahead, revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Chemicals industry in the US.

Performance of the American Chemicals industry.

The company's shares are down 5.7% from a week ago.

Risk Analysis

You should learn about the 5 warning signs we've spotted with FMC (including 1 which is a bit unpleasant).

Revenue: Declined 14% versus the prior year.
Pricing: Down 9%, with over half of the decline due to adjustments in certain cost-plus contracts.
FX Headwind: 4% impact on revenue growth, largely driven by the Brazilian real and European currencies.
Volume: Down 1% versus the prior year, with growth in Latin America offsetting declines elsewhere.
North America Sales: Declined 28% due to lower volume and cautious ordering by retailers and growers.
Latin America Sales: Grew 17%, excluding FX headwinds.
Asia Sales: Declined 21%, excluding currency impacts.
EMEA Sales: Declined 7%, excluding currency impacts.
EBITDA: Declined 25% due to lower price, FX headwinds, and reduced volume.
Interest Expense: $50.1 million, down over $11 million compared to the prior year period.
Effective Tax Rate: 14% in the first quarter.
Gross Debt: Approximately $4 billion, up $640 million from the prior quarter.
Net Debt: Approximately $3.7 billion.
Free Cash Flow: Negative $596 million, $408 million lower than the prior year period.
Full-Year Guidance: Sales expected to be flat, adjusted EBITDA to grow 1%, and adjusted earnings per share to be flat at the midpoint.

Warning! GuruFocus has detected 6 Warning Signs with FMC.

Release Date: May 01, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

FMC Corp (NYSE:FMC) has made strong progress in reducing channel inventory levels, particularly in regions outside Asia, positioning the company well for the second half of the year.
The company has successfully implemented its Rynaxypyr strategy, offering both lower-priced solo formulations and higher-value patented mixtures, which is expected to drive sales growth.
FMC Corp (NYSE:FMC) has established a new route to market in Brazil, selling directly to large corn and soybean growers, which is anticipated to provide a significant growth opportunity.
The company’s growth portfolio, including new active ingredients like fluindapyr and Isoflex, is well-positioned to deliver strong results, with recent product registrations supporting future sales.
FMC Corp (NYSE:FMC) has demonstrated resilience against tariff impacts by leveraging supply chain flexibility and cost-saving measures, minimizing the financial impact on the company.

Negative Points

FMC Corp (NYSE:FMC) experienced a 14% decline in sales in Q1 compared to the previous year, driven by lower pricing and FX headwinds.
The company faced a 25% decline in EBITDA in Q1 due to lower prices, FX headwinds, and reduced volume.
North American sales declined by 28% due to cautious purchasing behavior from retailers and growers, impacting overall performance.
The company anticipates a $15 million to $20 million cost headwind from tariffs, which could affect profitability if not managed effectively.
FMC Corp (NYSE:FMC) continues to face challenges in Asia and EMEA, with sales declines due to prudent selling strategies and loss of product registrations.

Q & A Highlights

Q: Can you describe the price trends in the crop production market outside of diamide? Has the pricing bottomed? What would you expect from price going forward this year? A: Pierre Brondeau, Chairman and CEO, explained that FMC’s pricing in Q1 was in the high single digits, influenced by lower pricing to diamide partners and a competitive market in Brazil. He expects pricing comparisons to ease in the second half of the year due to more stable conditions and easier year-on-year comparisons.

Q: Can you give guidance on why you expect strong growth in the second half of the year? A: Pierre Brondeau expressed high confidence in H2 growth, driven by strong demand for new products like fluindapyr and Isoflex, a new route to market in Brazil, and a healthier channel inventory situation. He also mentioned a $50 million automatic growth at the EBITDA level due to the absence of negative impacts from 2024.

Q: How are you offsetting the $15 million to $20 million tariff headwind? A: Pierre Brondeau stated that the cost savings actions were not specifically due to tariffs but were part of their ongoing plans. The company is focusing on creating demand from growers to pull products from retailers, which helps manage channel inventory and supports growth.

Q: Does reducing channel inventories involve giving significant rebates or discounts to customers? A: Pierre Brondeau clarified that FMC shifted its focus to promoting products directly to growers, creating demand without needing to offer rebates or discounts. This strategy helps manage inventory levels without financial incentives.

Q: Can you talk about the diamide strategy and your confidence in growth post-patent? A: Pierre Brondeau explained that FMC is lowering manufacturing costs to compete with generics and is introducing new products to maintain and grow market share. The strategy aims to protect current earnings from Rynaxypyr while introducing new formulations to address resistance and expand market reach.

Q: What are the alternatives for sourcing raw materials impacted by tariffs? A: Andrew Sandifer, CFO, highlighted FMC’s flexible supply chain with multiple sources for critical raw materials. The company is prepared to adjust sourcing and pricing strategies as tariffs evolve, aiming to minimize impacts through exemptions, duty drawbacks, and potential price adjustments.

Q: Can you share more about customer order patterns, especially in North America? A: Pierre Brondeau noted that customers were buying closer to planting time, leading to slower order patterns in Q1. However, demand is picking up in Q2, with a faster speed of purchase observed in Europe, indicating a positive trend.

Q: How does selling directly to farmers compare to selling through the channel? A: Pierre Brondeau and Ronaldo Pereira explained that the net contribution is similar whether selling directly or through the channel. Direct sales require dedicated personnel but offer similar terms and profitability, with no significant difference in cash conversion.

Q: Can you explain the second half EBITDA bridge and the impact of price and FX? A: Andrew Sandifer stated that the price and FX headwinds are interconnected, especially in European markets. The second half is expected to have a lower price headwind than the first half, with FX impacts dropping through more heavily than historical averages.

Q: How will the new route to market in Brazil impact results? A: Pierre Brondeau and Ronaldo Pereira expressed confidence in the new route to market in Brazil, which is expected to become positive in Q3. The organization is in place, and new technologies are driving demand, positioning FMC for growth in the second half of 2025.

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

This article first appeared on GuruFocus.

VANCOUVER, BC, May 2, 2025 /CNW/ – Eastern Platinum Limited (TSX: ELR)(JSE: EPS)("Eastplats" or the "Company") is pleased to announce that Eason Cong Chen has joined the board of directors of Eastplats effective May 1, 2025.

Mr. Chen is a Canadian Chartered Professional Accountant ("CPA") with over 20 years of experience in accounting, finance, operations, mergers and acquisitions, and management reporting, with a strong focus on the mining industry. He served on the board and audit committee of a Canadian copper producer for over 10 years, including more than one year as Chief Financial Officer. Mr. Chen is currently a partner at a U.S. CPA firm that specializes in the audit of publicly listed companies in both Canada and the United States. His areas of expertise include IFRS and U.S. GAAP financial reporting, internal controls over financial reporting, and corporate governance. Mr. Chen brings a strong combination of technical knowledge and executive leadership to the board, with a proven track record of driving financial performance and strategic execution in the resource sector.

Wanjin Yang, CEO and President of Eastplats commented, "The Company is pleased to welcome Eason to our board and I look forward to working with him as he joins our team."

About Eastern Platinum Limited

Eastplats owns directly and indirectly a number of PGM and chrome assets in the Republic of South Africa. All of the Company's properties are situated on the western limb (Crocodile River Mine) and eastern limb (Kennedy's Vale, Spitzkop, Mareesburg) of the Bushveld Complex, the geological environment that hosts approximately 80% of the world's PGM-bearing ore.

Operations at the Crocodile River Mine currently include mining and processing ore from the Zandfontein underground section to produce PGM and chrome concentrates, respectively.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

SOURCE Eastern Platinum Ltd.

Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2025/02/c3964.html

O’keefe Stevens Advisory, an investment advisory firm, released its first-quarter 2025 investor letter. A copy of the letter can be downloaded here. In a volatile first quarter, equity price movements exceeded downside underwriting assumptions. The firm is cautious in assessing downside risk, as disappointing earnings often lack immediate price support. The market seems to believe no valuation is too low when earnings miss expectations, whether the issues are temporary or structural. In addition, please check the top 5 holdings of the strategy to know its best pick in 2025.

In its first-quarter 2025 investor letter, O’keefe Stevens Advisory highlighted stocks such as Compass Minerals International, Inc. (NYSE:CMP). Compass Minerals International, Inc. (NYSE:CMP) is an essential minerals provider that operates through the Salt and Plant Nutrition segments. The one-month return of Compass Minerals International, Inc. (NYSE:CMP) was 41.77%, and its shares gained 1.96% of their value over the last 52 weeks. On May 1, 2025, Compass Minerals International, Inc. (NYSE:CMP) stock closed at $13.00 per share with a market capitalization of $539.553 million.

O’keefe Stevens Advisory stated the following regarding Compass Minerals International, Inc. (NYSE:CMP) in its Q1 2025 investor letter:

"During the quarter, we initiated three new positions: BMW (Ticker: BMWKY), Mercedes-Benz (Ticker: MBGYY), and Compass Minerals International, Inc. (NYSE:CMP).

Compass Minerals (Full report here) – High-quality assets trading at attractive prices stemming from recent management mistakes, removal from the S&P 600 index, and warmer winters resulted in this stock trading down to 6x our estimated normalized earnings. Salt road de-icing does not care whether the market is up or down, consumer preferences, or AI; salt must be bought if it snows. Compass is a high-quality business with a new management team and a back-to-basics agenda. Several side projects, including a fire retardant and a lithium extraction project, distracted their core salt and Sulfate of Potash (SOP) business. With these projects eliminated, combined with a typical winter, it will demonstrate the normalized earnings power of their business."

Is Compass Minerals International, Inc. (CMP) The Best Magnesium Stock to Buy Right Now?

A close up of an essential mineral being extracted from a large rock wall.

Compass Minerals International, Inc. (NYSE:CMP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 31 hedge fund portfolios held Compass Minerals International, Inc. (NYSE:CMP) at the end of the fourth quarter, compared to 29 in the third quarter. While we acknowledge the potential of Compass Minerals International, Inc. (NYSE:CMP) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

In another article, we covered Compass Minerals International, Inc. (NYSE:CMP) and shared the list of best magnesium stocks to buy. In addition, please check out our hedge fund investor letters Q1 2025 page for more investor letters from hedge funds and other leading investors.

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

DuPont de Nemours (DD) came out with quarterly earnings of $1.03 per share, beating the Zacks Consensus Estimate of $0.95 per share. This compares to earnings of $0.79 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 8.42%. A quarter ago, it was expected that this specialty chemicals maker would post earnings of $0.98 per share when it actually produced earnings of $1.13, delivering a surprise of 15.31%.

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

DuPont de Nemours , which belongs to the Zacks Chemical – Diversified industry, posted revenues of $3.07 billion for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 0.85%. This compares to year-ago revenues of $2.93 billion. The company has topped consensus revenue estimates three 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.

DuPont de Nemours shares have lost about 13.4% since the beginning of the year versus the S&P 500's decline of -4.7%.

What's Next for DuPont de Nemours?

While DuPont de Nemours has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

Ahead of this earnings release, the estimate revisions trend for DuPont de Nemours: 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 $1.07 on $3.22 billion in revenues for the coming quarter and $4.25 on $12.72 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, Chemical – Diversified is currently in the bottom 18% 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.

Another stock from the same industry, Compass Minerals (CMP), has yet to report results for the quarter ended March 2025. The results are expected to be released on May 7.

Compass Minerals' revenues are expected to be $413.88 million, up 13.7% from the year-ago quarter.

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

DuPont de Nemours, Inc. (DD) : Free Stock Analysis Report

Compass Minerals International, Inc. (CMP) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research

Virtual Investor Conferences

Company Executives Share Vision and Answer Questions Live at VirtualInvestorConferences.com

NEW YORK, May 02, 2025 (GLOBE NEWSWIRE) — Virtual Investor Conferences, the leading proprietary investor conference series announced the agenda for the Metals & Mining Virtual Investor Conference held May 6-8th.

Individual investors, institutional investors, advisors, and analysts are invited to attend.

It is recommended that investors pre-register and run the online system check to expedite participation and receive event updates. There is no cost to log-in, attend live presentations, or schedule 1×1 meetings with management.

“We are excited to welcome a full roster of over 20 OTCQX and OTCQB companies to our 3-day Metals and Mining Virtual Investor Conference,” said Jason Paltrowitz, Executive Vice President of Corporate Services at OTC Markets Group. “Our platform is tailored to meet the needs of today’s resource companies as they look to engage a broader investor base.”

May 6th

EasternTime (ET)	Presentation	Ticker(s)
9:30 AM ET	Northern Superior Resources Inc.	(OTCQB: NSUPF \| TSXV: SUP)
10:00 AM ET	Luca Mining Corp.	(OTCQX: LUCMF \| TSXV: LUCA)
10:30 AM ET	Castile Resources Limited	(OTCQB: CLRSF \| ASX: CST)
11:00 AM ET	Sun Summit Minerals Corp.	(OTCQB: SMREF \| TSXV: SMN)
11:30 AM ET	Amex Exploration Inc.	(OTCQX: AMXEF \| TSXV: AMX)
12:00 PM ET	Ucore Rare Metals, Inc.	(OTCQX: UURAF \| TSXV: UCU)
12:30 PM ET	Kootenay Silver Inc.	(OTCQX: KOOYF \| TSXV: KTN)
1:00 PM ET	Camino Minerals Corp.	(Pink: CAMZF \| TSXV: COR)
2:00 PM ET	Precipitate Gold Corp.	(OTCQB: PREIF \| TSXV: PRG)
3:00 PM ET	Callinex Mines Ltd.	(OTXQX: CLLXF \| TSXV: CNX)

May 7th

EasternTime (ET)	Presentation	Ticker(s)
9:30 AM ET	Canada Nickel Company Inc.	(OTCQX: CNIKF\| TSXV: CNC)
10:30 AM ET	Anfield Energy Inc.	(OTCQB: ANLDF \| TSXV: AEC)
11:00 AM ET	Newcore Gold Ltd.	(OTCQX: NCAUF \| TSXV: NCAU)
11:30 AM ET	Empire Metals Ltd.	(OTCQB: EPMLF \| AIM: EEE)
12:30 PM ET	Cerrado Gold Inc.	(OTCQX: CRDOF \| TSXV: CERT)
1:00 PM ET	Silver Tiger Metals Inc.	(OTCQX: SLVTF \| TSXV: SLVR)
1:30 PM ET	Horizon Copper Corp.	(OTCQX: HNCUF \| TSXV: HCU)
2:00 PM ET	Kodiak Copper Corp.	(OTCQB: KDKCF \| TSXV: KDK)
2:30 PM ET	Rua Gold Inc.	(OTCQB: NZAUF \| TSXV: RUA)
3:00 PM ET	DynaResource, Inc.	(OTCQX: DYNR)

May 8th

EasternTime (ET)	Presentation	Ticker(s)
9:30 AM ET	Novo Resources Corp.	(OTCQB: NSRPF \| TSX: NVO)
10:00 AM ET	Ecora Resources PLC	(OTCQX: ECRAF \| TSX: ECOR)
10:30 AM ET	Power Metallic Mines Inc.	(OTCQB: PNPNF \| TSXV: PNPN)

To facilitate investor relations scheduling and to view a complete calendar of Virtual Investor Conferences, please visit www.virtualinvestorconferences.com.

About Virtual Investor Conferences®

Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.

Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.

Media Contact: OTC Markets Group Inc. +1 (212) 896-4428, media@otcmarkets.com

Virtual Investor Conferences Contact:John M. ViglottiSVP Corporate Services, Investor AccessOTC Markets Group (212) 220-2221johnv@otcmarkets.com

Southern Copper (SCCO) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.

Over the past month, shares of this miner have returned -5.1%, compared to the Zacks S&P 500 composite's -0.7% change. During this period, the Zacks Mining – Non Ferrous industry, which Southern Copper falls in, has lost 4.5%. The key question now is: What could be the stock's future direction?

While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.

Earnings Estimate Revisions

Here at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.

We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

Southern Copper is expected to post earnings of $1.09 per share for the current quarter, representing a year-over-year change of -10.7%. Over the last 30 days, the Zacks Consensus Estimate has changed -5.2%.

For the current fiscal year, the consensus earnings estimate of $4.41 points to a change of +1.9% from the prior year. Over the last 30 days, this estimate has changed -4.8%.

For the next fiscal year, the consensus earnings estimate of $4.63 indicates a change of +5% from what Southern Copper is expected to report a year ago. Over the past month, the estimate has changed +1.6%.

With an impressive externally audited track record, our proprietary stock rating tool — the Zacks Rank — is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for Southern Copper.

The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:

12 Month EPS12-month consensus EPS estimate for SCCO _12MonthEPSChartUrlProjected Revenue Growth

While earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.

In the case of Southern Copper, the consensus sales estimate of $2.95 billion for the current quarter points to a year-over-year change of -5.5%. The $11.9 billion and $11.49 billion estimates for the current and next fiscal years indicate changes of +4.1% and -3.5%, respectively.

Last Reported Results and Surprise History

Southern Copper reported revenues of $3.12 billion in the last reported quarter, representing a year-over-year change of +20.1%. EPS of $1.19 for the same period compares with $0.94 a year ago.

Compared to the Zacks Consensus Estimate of $2.98 billion, the reported revenues represent a surprise of +4.67%. The EPS surprise was +5.31%.

Over the last four quarters, Southern Copper surpassed consensus EPS estimates three times. The company topped consensus revenue estimates three times over this period.

Valuation

Without considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.

Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.

The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an An is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.

Southern Copper is graded D on this front, indicating that it is trading at a premium to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.

Conclusion

The facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Southern Copper. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.

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Southern Copper Corporation (SCCO) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research

We recently published a list of How Did Jim Cramer’s 12 Bold Predictions Play Out?. In this article, we are going to take a look at where Freeport-McMoRan Inc. (NYSE:FCX) stands against other stocks that Jim Cramer recently discussed.

During the most recent episode of Mad Money, Jim Cramer revisited the recent turbulence in artificial intelligence stocks, three months after the emergence of DeepSeek, a Chinese AI firm that initially rattled markets. He noted that despite the broad pullback in the sector, many of the fears triggered by DeepSeek’s debut have not materialized, which has led to a reconsideration of the panic that followed.

“Three months ago, January 23rd is a day that will live in artificial intelligence infamy. That’s when we learned that a Chinese firm called DeepSeek had figured out a way to train high quality generative AI models using far less hardware. They claim their hardware costs were around $6 million versus $80 to $100 million for their enormous American competitors.”

The announcement sent shockwaves through the market. Cramer recalled how NVIDIA saw its stock fall sharply over just two trading sessions. The market reaction spread quickly beyond and hit other companies tied to data center infrastructure, which eventually pulled down the broader Nasdaq. However, Cramer noted that the company then revealed plans to build $500 billion worth of AI infrastructure in the United States over the next four years.

Cramer noted that initially, it seemed to signal a renewed sense of stability. But soon after, the administration imposed a ban on selling AI chips to China, which forced the GPU kingpin to write down $5.5 billion tied to that entire initiative. Even so, Cramer emphasized that the company’s core business remained strong.

“We understand that they’re basically sold out for the year, even as they can only sell their best stuff in the United States and the 18 friendly countries.”

Cramer attributed the export restrictions to a policy from former President Biden, one that President Trump has not reversed. Despite the geopolitical constraints, Cramer stressed that demand for the company’s technology is still overwhelming. He argued that the stock never should have experienced such a steep drop in the first place. He added:

“Even with the trade war, the AI infrastructure theme seems totally back on track. In fact, it never left the track to begin with.”

Our Methodology

For this article, we compiled a list of 12 stocks that were discussed by Jim Cramer during the episode of Mad Money on April 30, 2024. We then calculated their performance from April 30th, 2024, market close to April 29th, 2025, market close. We have also included the hedge fund sentiment for the stocks, which we sourced from Insider Monkey’s Q4 2024 database of over 900 hedge funds. The stocks are listed in the order that Cramer mentioned them.

Please note that this article mentions Jim Cramer’s previous opinions and may not account for any changes to his opinions regarding the stocks that are mentioned. It is primarily an examination of how his previously provided opinions have panned out.

Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).

Freeport-McMoRan Inc. (FCX): Jim Cramer Still Likes It — “Buy Some Here, But Maybe Hedge with Gold”

A large open-pit copper mine with heavy machinery extracting minerals from the earth.

Freeport-McMoRan Inc. (NYSE:FCX)

Number of Hedge Fund Holders: 88

When a caller brought up Freeport-McMoRan Inc. (NYSE:FCX), the major copper and gold miner, Cramer expressed caution due to the stock’s rapid price surge at the time. Here’s what he said:

“I wanted to come in first. It’s been straight up. I do not like parabolic moves, and it just had one.”

Cramer’s call was spot on, with the stock having dropped 29.08% since then.

When asked about whether Freeport-McMoRan Inc. (NYSE:FXC) is worth holding recently Cramer replied with:

“Yeah, I want you to hold it. I mean, it was really a shame what happened to FCX. FCX has been going up because we needed it for data centers and the Chinese were ordering some. Suddenly we’ve decided the Chinese aren’t going to order any and the stock has given up so much of its gain… I think that this is a very good level to buy some. But if you want to really hedge it, why not buy Barrick? Because Barrick, symbol GOLD, has gold and copper. That might be the best way to go.”

Overall, FCX ranks 5th on our list of stocks that Jim Cramer recently discussed. While we acknowledge the potential of FCX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than FCX but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.

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

Investors interested in Mining – Gold stocks are likely familiar with Harmony Gold (HMY) and Franco-Nevada (FNV). But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.

There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The proven Zacks Rank emphasizes companies with positive estimate revision trends, and our Style Scores highlight stocks with specific traits.

Both Harmony Gold and Franco-Nevada have a Zacks Rank of # 2 (Buy) right now. This system places an emphasis on companies that have seen positive earnings estimate revisions, so investors should feel comfortable knowing that these stocks have improving earnings outlooks. But this is just one piece of the puzzle for value investors.

Value investors are also interested in a number of tried-and-true valuation metrics that help show when a company is undervalued at its current share price levels.

Our Value category highlights undervalued companies by looking at a variety of key metrics, including the popular P/E ratio, as well as the P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that have been used by value investors for years.

HMY currently has a forward P/E ratio of 14.73, while FNV has a forward P/E of 42.55. We also note that HMY has a PEG ratio of 0.31. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. FNV currently has a PEG ratio of 4.41.

Another notable valuation metric for HMY is its P/B ratio of 3.93. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. By comparison, FNV has a P/B of 5.52.

These metrics, and several others, help HMY earn a Value grade of B, while FNV has been given a Value grade of F.

Both HMY and FNV are impressive stocks with solid earnings outlooks, but based on these valuation figures, we feel that HMY is the superior value option right now.

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We recently compiled a list of the 12 Most Promising EV Battery Stocks According to Wall Street Analysts. In this article, we are going to take a look at where Sociedad Química y Minera de Chile S.A. (NYSE:SQM) stands against the other EV Battery stocks.

The term “EV battery stocks” describes businesses producing and developing electric vehicle batteries. This includes firms that provide energy storage solutions, supply battery components, and produce EV batteries.

There is a market for reasonably priced electric cars. Investors can look into the companies making EV batteries, the most crucial and expensive components for EVs, to stay ahead of that demand. The need for EV batteries will rise sharply if the manufacturing of electric vehicles rises dramatically during the next ten years.

To satisfy the need for batteries with greater capacity and cheaper costs, major manufacturers are making significant investments. New energy storage solutions being developed by battery technology start-ups, some of which are coming public through mergers with special purpose acquisition companies, have the potential to completely transform the market. EV battery stocks are a great investment option right now.

The EV battery market is booming. As per a research report, the market for electric vehicle batteries was estimated to be worth $59.06 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 6.4% from 2024 to 2032, from $67.78 billion to $111.20 billion. Asia Pacific held the largest regional share of the global EV battery market in 2023, with a valuation of $28.44 billion, and is anticipated to continue to do so for the duration of the forecast period. One of the main factors propelling the region’s market expansion is China’s soaring EV sales. As per the International Energy Agency, China accounted for the largest global sales of electric vehicles in 2023, with 8.4 million units sold.

While the EV battery market is growing, the cost of EV batteries has dropped significantly in recent years, as per S&P Global, mostly due to declining prices for essential components like nickel, cobalt, and lithium. However, over the coming years, prices are anticipated to stabilize. For instance, the price of lithium carbonate dropped from around $70,000 per metric ton to less than $15,000 in 2024, while the price of cobalt dipped from $70,000 per metric ton in 2022 to about $30,000. While the global average price is predicted to increase somewhat in the second part of the decade, S&P Global Mobility forecasts that nickel cobalt manganese (NCM811) cell prices in Europe will decline by more than 7% between 2024 and 2030. This is caused by a strained raw material supply chain and unsustainable low profit margins for certain suppliers. NCM811 cells are currently cheaper in Greater China due to increased local production, while they are more expensive in Europe.

In contrast, the average cost of lithium iron phosphate (LFP) cells in 2024 will be about $60/kWh, which is 20% less than that of NCM cells. Although LFP production is currently dominated by Greater China, Europe is growing its capacity. However, higher production costs in non-Chinese countries will probably result in a medium-term increase in LFP pricing. While NCM811 packs continue to average $103/kWh in the region, LFP packs in Greater China have achieved the goal of cost parity with internal combustion engine vehicles at $100/kWh. The cost of battery metal may increase, but economies of scale and efficiency improvements should keep costs largely constant.

Analysts anticipate lithium prices to stabilize in 2025 as mine closures and robust EV sales in China lessen the global lithium supply glut. China’s state-owned commodity data source Antaike estimates the glut will decrease by half to 80,000 tons of lithium carbonate, while Cameron Hughes of CRU Group stated that 2024 curtailments and possible additional reductions will substantially relieve the surplus. Over 5 million cars have already benefited from China’s improved EV subsidies, which have driven up demand and helped fuel a late-2024 lithium rally. A buyer of cathode materials attested that the price rise was caused by subsidies, and analysts predict that policy assistance will keep prices rising in 2025, strengthening a bullish outlook.

David Merriman, research director at metals research company Project Blue, stated:

“Any improvement in prices is likely to be felt towards the end of 2025 as inventories are used up and buyers return to the spot market.”

12 Most Promising EV Battery Stocks According to Wall Street Analysts

A laboratory technician pouring a specialty blend of industrial chemicals into a beaker.

Our Methodology

For this list, we compiled an initial list of 20 EV Battery stocks. Then we selected the 12 stocks that had the highest upside potential as of April 29, 2025. We have only included stocks in our list with an upside potential of 20% or higher. The stocks are ranked in ascending order of the upside potential.

Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points. (see more details here).

Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

Analysts’ Upside Potential as of April 22: 30.84%

Sociedad Química y Minera de Chile S.A. (NYSE:SQM) is a Chilean commodity producer with major activities in lithium (mainly used in batteries for electric vehicles and energy storage systems). The company uses its caliche ore and premium salt brine reserves to extract these products. It is growing its lithium refining assets in China and working on a hard rock lithium project in Australia. It is among the Most Promising Stocks as its analysts’ upside potential as of April 22 is 30.84%.

Despite declining lithium prices during 2024, Sociedad Química y Minera de Chile S.A. (NYSE:SQM) recorded full-year revenues of about $4.5 billion with a gross profit of almost $1.3 billion. However, its net income was impacted by a one-time $1.1 billion charge related to a tax dispute over its mining operations.

The firm is a major, reasonably priced producer of lithium, iodine, and nitrates used in specialty fertilizers because of its access to excellent mineral reserves. The geologically advantageous lithium and caliche ore resources of Sociedad Química y Minera de Chile S.A. (NYSE:SQM) are its crown jewels. Its low-cost lithium deposit in the Salar de Atacama has the world’s most significant concentration of lithium and benefits from high evaporation rates in the Chilean desert. Morningstar analysts anticipate double-digit yearly growth in global lithium demand, one of the greatest growth profiles among commodities, as the use of electric vehicles rises.

Overall, SQM ranks 11th on our list of the 12 Most Promising EV Battery Stocks According to Wall Street Analysts. While we acknowledge the potential of EV Battery companies, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than SQM but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.

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

FMC Corporation FMC reported a loss of 12 cents per share for first-quarter 2025. This compares unfavorably to loss of 2 cents incurred in the year-ago quarter.Barring one-time items, adjusted earnings per share were 18 cents, beating the Zacks Consensus Estimate of 8 cents.Revenues were $791.4 million in the quarter, down around 13.8% from the year-ago quarter’s levels. The top line beat the Zacks Consensus Estimate of $779 million.The top line fell due to a price decline of 9%, more than half of which was related to price adjustments in certain contracts with specific diamide partners.(Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)

FMC Corporation Price, Consensus and EPS Surprise

FMC Corporation price-consensus-eps-surprise-chart | FMC Corporation Quote

FMC’s Regional Sales Performance

In North America, sales tumbled 28% year over year to $186 million in the quarter on reduced volumes. The figure missed the consensus estimate of $224.2 million. The decline was primarily due to lower volumes as customers in the United States delayed purchases as anticipated, which was exacerbated by international trade dynamics.Latin American sales saw a 10% year-over-year rise to $207 million in the reported quarter. It beat the consensus estimate of $137.9 million. Volume grew due to increasing direct sales to cotton growers in Brazil, as well as product-on-the-ground sales surpassing FMC sales into the channel. In Asia, revenues declined 24% from the prior-year quarter to $125 million. It lagged the consensus estimate of $144.8 million. Prudent selling to allow channel destocking led to lower volumes.EMEA sales fell 11% year over year to $273 million in the reported quarter. It missed the consensus estimate of $278.5 million. EMEA sales are being adversely impacted by lower volumes, including the expected loss of registration for triflusulfuron.

FMC’s Financials

The company had cash and cash equivalents of $315.3 million at the end of the quarter, down roughly 11.8% sequentially. Long-term debt was $3,027.7 million, flat sequentially.

FMC’s Guidance

The company has maintained its revenue outlook for the year at $4.15 billion to $4.35 billion, which is essentially flat compared to the prior year at the midpoint. The adjusted EBITDA forecast also remains unchanged at $870 million to $950 million, implying a 1% increase at the midpoint from the prior year, or a 4% increase when excluding the GSS divestiture impact. This guidance includes estimated incremental tariff costs of $15 million to $20 million, based on the latest government guidelines. The company has also reiterated its adjusted earnings per diluted share outlook of $3.26 to $3.70, which is flat at the midpoint compared to the previous year. Additionally, the free cash flow forecast remains at $200 million to $400 million.

FMC’s Price Performance

FMC’s shares have lost 30.8% in the past year compared with a 9.6% decline of the industry.

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FMC’s Zacks Rank & Key Picks

FMC currently carries a Zacks Rank #3 (Hold).Better-ranked stocks worth a look in the basic materials space include Hawkins, Inc. HWKN, SSR Mining Inc. SSRM and Intrepid Potash, Inc. IPI. While HWKN carries a Zacks Rank #1 (Strong Buy), SSRM and IPI carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Hawkins is expected to report fiscal fourth-quarter results on May 21. The consensus estimate for Hawkins’ earnings is pegged at 74 cents. HWKN beat the consensus estimate in one of the last four quarters while missing thrice, with the average earnings surprise being 6.1%. SSRM is scheduled to release first-quarter results on May 6. The Zacks Consensus Estimate for SSRM’s first-quarter earnings is pegged at 8 cents. SSRM has a trailing four-quarter earnings surprise of 155.7%, on average. Intrepid Potash is slated to release first-quarter results on May 5. The consensus estimate for IPI’s first-quarter loss is 12 cents, stable over the past 60 days.

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Huntsman (HUN) came out with a quarterly loss of $0.11 per share in line with the Zacks Consensus Estimate. This compares to loss of $0.06 per share a year ago. These figures are adjusted for non-recurring items.

A quarter ago, it was expected that this chemical company would post a loss of $0.12 per share when it actually produced a loss of $0.25, delivering a surprise of -108.33%.

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

Huntsman , which belongs to the Zacks Chemical – Diversified industry, posted revenues of $1.41 billion for the quarter ended March 2025, missing the Zacks Consensus Estimate by 4.68%. This compares to year-ago revenues of $1.47 billion. The company has topped consensus revenue estimates just once 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.

Huntsman shares have lost about 26.2% since the beginning of the year versus the S&P 500's decline of -5.3%.

What's Next for Huntsman?

While Huntsman has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

Ahead of this earnings release, the estimate revisions trend for Huntsman: unfavorable. 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 #5 (Strong Sell) for the stock. So, the shares are expected to underperform 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 $0.04 on $1.62 billion in revenues for the coming quarter and -$0.05 on $6.21 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, Chemical – Diversified is currently in the bottom 16% 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.

One other stock from the same industry, Compass Minerals (CMP), is yet to report results for the quarter ended March 2025. The results are expected to be released on May 7.

Compass Minerals' revenues are expected to be $413.88 million, up 13.7% from the year-ago quarter.

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PHILADELPHIA, April 30, 2025 /PRNewswire/ —

FMC Corporation (NYSE: FMC) announced today that its board of directors declared a regular quarterly dividend of 58 cents per share, payable on July 17, 2025, to shareholders of record as of the close of business on June 30, 2025.

About FMC

FMC Corporation is a global agricultural sciences company dedicated to helping growers produce food, feed, fiber and fuel for an expanding world population while adapting to a changing environment. FMC's innovative crop protection solutions – including biologicals, crop nutrition, digital and precision agriculture – enable growers and crop advisers to address their toughest challenges economically while protecting the environment. FMC is committed to discovering new herbicide, insecticide and fungicide active ingredients, product formulations and pioneering technologies that are consistently better for the planet. Visit fmc.com to learn more and follow us on LinkedIn®.

Statement under the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995: FMC and its representatives may from time to time make written or oral statements that are "forward-looking" and provide other than historical information, including statements contained in this press release, in FMC's other filings with the SEC, and in presentations, reports or letters to FMC stockholders.

In some cases, FMC has identified these forward-looking statements by such words or phrases as "outlook", "will likely result," "is confident that," "expect," "expects," "should," "could," "may," "will continue to," "believe," "believes," "anticipates," "predicts," "forecasts," "estimates," "projects," "potential," "intends" or similar expressions identifying "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including the negative of those words or phrases. Such forward-looking statements are based on our current views and assumptions regarding future events, future business conditions and the outlook for the company based on currently available information. The forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any results, levels of activity, performance or achievements expressed or implied by any forward-looking statement. These statements are qualified by reference to the risk factors included in Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2024 (the "2024 Form 10-K"), the section captioned "Forward-Looking Information" in Part II of the 2024 Form 10-K and to similar risk factors and cautionary statements in all other reports and forms filed with the Securities and Exchange Commission ("SEC"). We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Forward-looking statements are qualified in their entirety by the above cautionary statement.

We specifically decline to undertake any obligation, and specifically disclaims any duty, to publicly update or revise any forward-looking statements that have been made to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events, except as may be required by law.

Cision

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SOURCE FMC Corporation

Most readers would already know that BHP Group's (ASX:BHP) stock increased by 4.6% over the past week. Given that stock prices are usually aligned with a company's financial performance in the long-term, we decided to investigate if the company's decent financials had a hand to play in the recent price move. Particularly, we will be paying attention to BHP Group's ROE today.

Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors’ money. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.

We've discovered 2 warning signs about BHP Group. View them for free.

How To Calculate Return On Equity?

The formula for ROE is:

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

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

27% = US$13b ÷ US$50b (Based on the trailing twelve months to December 2024).

The 'return' is the amount earned after tax over the last twelve months. Another way to think of that is that for every A$1 worth of equity, the company was able to earn A$0.27 in profit.

See our latest analysis for BHP Group

What Has ROE Got To Do With Earnings Growth?

So far, we've learned that ROE is a measure of a company's profitability. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. Generally speaking, other things being equal, firms with a high return on equity and profit retention, have a higher growth rate than firms that don’t share these attributes.

BHP Group's Earnings Growth And 27% ROE

First thing first, we like that BHP Group has an impressive ROE. Secondly, even when compared to the industry average of 12% the company's ROE is quite impressive. Despite this, BHP Group's five year net income growth was quite low averaging at only 2.3%. That's a bit unexpected from a company which has such a high rate of return. A few likely reasons why this could happen is that the company could have a high payout ratio or the business has allocated capital poorly, for instance.

As a next step, we compared BHP Group's net income growth with the industry and were disappointed to see that the company's growth is lower than the industry average growth of 20% in the same period.

ASX:BHP Past Earnings Growth April 30th 2025

Earnings growth is an important metric to consider when valuing a stock. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. This then helps them determine if the stock is placed for a bright or bleak future. What is BHP worth today? The intrinsic value infographic in our free research report helps visualize whether BHP is currently mispriced by the market.

Is BHP Group Using Its Retained Earnings Effectively?

With a high three-year median payout ratio of 80% (or a retention ratio of 20%), most of BHP Group's profits are being paid to shareholders. This definitely contributes to the low earnings growth seen by the company.

Additionally, BHP Group has paid dividends over a period of at least ten years, which means that the company's management is determined to pay dividends even if it means little to no earnings growth. Existing analyst estimates suggest that the company's future payout ratio is expected to drop to 51% over the next three years. Still forecasts suggest that BHP Group's future ROE will drop to 17% even though the the company's payout ratio is expected to decrease. This suggests that there could be other factors could driving the anticipated decline in the company's ROE.

Conclusion

In total, it does look like BHP Group has some positive aspects to its business. Although, we are disappointed to see a lack of growth in earnings even in spite of a high ROE. Bear in mind, the company reinvests a small portion of its profits, which means that investors aren't reaping the benefits of the high rate of return. With that said, on studying the latest analyst forecasts, we found that while the company has seen growth in its past earnings, analysts expect its future earnings to shrink. Are these analysts expectations based on the broad expectations for the industry, or on the company's fundamentals? Click here to be taken to our analyst's forecasts page for the company.

PHILADELPHIA (AP) — PHILADELPHIA (AP) — FMC Corp. (FMC) on Wednesday reported a loss of $15.5 million in its first quarter.

On a per-share basis, the Philadelphia-based company said it had a loss of 12 cents. Earnings, adjusted for one-time gains and costs, were 18 cents per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.

The chemical producer posted revenue of $791.4 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $779 million.

For the current quarter ending in June, FMC expects its per-share earnings to range from 52 cents to 68 cents.

The company said it expects revenue in the range of $940 million to $1.1 billion for the fiscal second quarter.

FMC expects full-year earnings in the range of $3.26 to $3.70 per share, with revenue ranging from $4.15 billion to $4.35 billion.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FMC at https://www.zacks.com/ap/FMC

Order patterns in Q1 largely in line with Company expectations as customer inventory of FMC products reaches targeted levels in most countries

First Quarter 2025 Highlights

Revenue of $791 million, down 14 percent versus Q1 2024, down 10 percent organically1
Consolidated GAAP net loss of $16 million, a decline of $13 million versus Q1 2024
Adjusted EBITDA of $120 million, down 25 percent versus Q1 2024
Consolidated GAAP loss of $0.12 per diluted share, down 10 cents versus Q1 2024
Adjusted earnings per diluted share of $0.18, down 50 percent versus Q1 2024

Full-Year Outlook2

Maintains revenue outlook of $4.15 billion to $4.35 billion, essentially flat to prior year at the midpoint; growth of 3 percent, excluding the impact of the Global Specialty Solutions (GSS) business divestiture
Maintains adjusted EBITDA outlook of $870 million to $950 million, an increase of 1 percent versus prior year at the midpoint and an increase of 4 percent excluding the impact from the GSS divestiture
Embedded in adjusted EBITDA guidance are estimated incremental tariff costs of $15 million to $20 million based on most recent government guidelines
Adjusted earnings per diluted share outlook unchanged at $3.26 to $3.70, flat at the midpoint to prior year
Free cash flow forecast remains $200 million to $400 million, reflecting a decline of 51 percent at the midpoint from prior year

PHILADELPHIA, April 30, 2025 /PRNewswire/ — FMC Corporation (NYSE:FMC) today reported first quarter 2025 revenue of $791 million, down 14 percent versus first quarter 2024, and down 10 percent organically. On a GAAP basis, the company reported a loss of $0.12 per diluted share in the first quarter, a decrease of 10 cents versus first quarter 2024. First quarter adjusted earnings were $0.18 per diluted share, down 50 percent versus first quarter 2024.

"First quarter sales were largely in line with our expectations," said Pierre Brondeau, FMC chairman and chief executive officer. "Our strong focus on increasing product-on-the-ground3 while controlling sales into the channel allowed us to decrease the level of FMC inventory at our distribution partners and more closely align with customer targets in most countries. A continued prudent approach through Q2 will position us to deliver substantial growth in the second half."

Lower first quarter revenue was driven by a price decline of 9 percent, over half of which was attributed to price adjustments in certain "cost-plus" contracts with specific diamide partners as a result of lower manufacturing costs. Foreign currency was a headwind of 4 percent. Volume declined 1 percent versus a weak prior year.

Sales in North America declined 28 percent, attributed mainly to lower volumes as customers in the U.S. delayed purchases as expected and was compounded by international trade dynamics. Latin America sales grew 10 percent, 17 percent excluding currency impacts. Volume improved due to increased direct sales to cotton growers in Brazil, in addition to product-on-the-ground3 significantly outpacing FMC sales into the channel. In Asia, first quarter revenue was lower by 24 percent, down 21 percent excluding FX. Lower volumes were driven by prudent selling to enable channel destocking. EMEA sales declined 11 percent, 7 percent excluding currency impacts, due to lower volumes, including the expected loss of registration for triflusulfuron. The Plant Health business outperformed the overall portfolio with sales growth of 1 percent, driven by growth in biologicals.

FMC Revenue	Q1 2025
Total Revenue Change (GAAP)	(14) %
Less FX Impact	(4) %
Organic1 Revenue Change (Non-GAAP)	(10) %

GAAP net income in the first quarter declined $13 million as lower sales and a higher GAAP effective tax rate were partially offset by net cost favorability as well as lower interest and restructuring charges. FMC first quarter adjusted EBITDA was $120 million, a decrease of 25 percent from the prior-year period, driven by lower pricing, reduced volume and an FX headwind. Costs were a tailwind as favorability in COGS more than offset increased investment in selling and R&D.

On a GAAP basis, cash from operations was negative $545 million, a decline of $402 million versus 2024 due primarily to a smaller reduction in inventory levels as compared to the prior year period. Free cash flow was negative $596 million, a decline of $408 million versus Q1 2024 primarily due to lower cash from operations.

Outlook2

The company reaffirms its full-year 2025 revenue, adjusted EBITDA, adjusted EPS and free cash flow guidance ranges. Embedded in the adjusted EBITDA guidance range is a cost headwind of $15 million to $20 million for expected incremental tariff charges that are planned to be offset by additional cost savings and volume.

Second quarter revenue is expected to be in the range of $940 million to $1.10 billion, a decline of 2 percent at the midpoint compared to second quarter 2024. The Company will continue to prudently sell into the channel while maintaining focus on driving product-on-the-ground3. Modest volume growth is expected to be more than offset by a low-to-mid single digit price decline as well as a low single digit FX headwind. Adjusted EBITDA is forecasted to be in the range of $175 million to $205 million, a decline of 6 percent versus the prior year as lower pricing and FX headwinds are partially offset by favorable costs and a modest volume increase. FMC expects adjusted earnings per diluted share to be in the range of $0.52 to $0.68 in the second quarter, which represents a 5 percent decrease at the midpoint versus second quarter 2024.

The midpoint of first-half guidance implies a 7 percent increase in second-half sales, an 11 percent increase in second-half adjusted EBITDA and a 9 percent increase in adjusted second-half EPS compared to the same period last year. Sales growth in the second half is expected to come mainly from the company's growth portfolio as well as from an additional route to market in Brazil put in place during the first half. Lower costs and increased sales volumes are expected to drive the increase in adjusted EBITDA, partially offset by price and FX headwinds.

	Full-Year 2025Outlook2	Q2 2025Outlook2	First-HalfOutlook2	Second-HalfOutlook2
Revenue	$4.15 billion to $4.35 billion	$940 million to $1.10 billion	$1.73 billion to $1.89 billion	$2.42 billion to $2.46 billion
Growth at midpoint vs. 2024	0 %	(2) %	(7) %	7 %
Adjusted EBITDA	$870 million to $950 million	$175 million to $205 million	$295 million to $325 million	$575 million to $625 million
Growth at midpoint vs. 2024	1 %	(6) %	(15) %	11 %
Adjusted EPS^	$3.26 to $3.70	$0.52 to $0.68	$0.70 to $0.86	$2.56 to $2.84
Growth at midpoint vs. 2024	0 %	(5) %	(21) %	9 %

^ EPS estimates assume 125.6 million diluted shares for full year and 125.6 million diluted shares for Q2.

Supplemental Information

The company will post supplemental information on the web at https://investors.fmc.com, including its webcast slides for tomorrow's earnings call, definitions of non-GAAP terms and reconciliations of non-GAAP figures to the nearest available GAAP term.

Always read and follow all label directions, restrictions and precautions for use. Products listed here may not be registered for sale or use in all states, countries or jurisdictions. FMC and the FMC logo are trademarks of FMC Corporation or an affiliate.

About FMC

We specifically decline to undertake any obligation, and specifically disclaim any duty, to publicly update or revise any forward-looking statements that have been made to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events, except as may be required by law.

This press release contains certain "non-GAAP financial terms" which are defined on our website www.fmc.com/investors. Such terms include adjusted EBITDA, adjusted earnings, free cash flow and organic revenue growth. In addition, we have also provided on our website reconciliations of non-GAAP terms to the most directly comparable GAAP terms.

Organic revenue growth (non-GAAP) excludes the impact of foreign currency changes.

Although we provide forecasts for adjusted earnings per share, adjusted EBITDA, and free cash flow (non-GAAP financial measures), we are not able to forecast the most directly comparable measures calculated and presented in accordance with GAAP. Certain elements of the composition of the GAAP amounts are not predictable, making it impractical for us to forecast. Such elements include, but are not limited to, restructuring, acquisition charges, and discontinued operations. As a result, no GAAP outlook is provided.

Product-on-the-ground refers to crop protection product currently at farm level expected to be applied.

FMC CORPORATION CONSOLIDATED STATEMENTS OF INCOME (LOSS) (Unaudited and in millions, except per share amounts)

	Three Months Ended March 31,
	2025	2024
Revenue	$ 791.4	$ 918.0
Costs of sales and services	474.7	578.3
Gross margin	$ 316.7	$ 339.7
Selling, general and administrative expenses	172.0	163.9
Research and development expenses	68.7	60.9
Restructuring and other charges (income)	17.8	40.9
Total costs and expenses	$ 733.2	$ 844.0
Income from continuing operations before non-operating pension and postretirement charges (income), interest expense, net and income taxes	$ 58.2	$ 74.0
Non-operating pension and postretirement charges (income)	3.2	4.3
Interest expense, net	50.1	61.7
Income (loss) from continuing operations before income taxes	$ 4.9	$ 8.0
Provision (benefit) for income taxes	13.5	(1.4)
Income (loss) from continuing operations	$ (8.6)	$ 9.4
Discontinued operations, net of income taxes	(7.0)	(12.5)
Net income (loss)	$ (15.6)	$ (3.1)
Less: Net income (loss) attributable to noncontrolling interests	(0.1)	(0.4)
Net income (loss) attributable to FMC stockholders	$ (15.5)	$ (2.7)
Amounts attributable to FMC stockholders:
Income (loss) from continuing operations	$ (8.5)	$ 9.8
Discontinued operations, net of tax	(7.0)	(12.5)
Net income (loss)	$ (15.5)	$ (2.7)
Basic earnings (loss) per common share attributable to FMC stockholders:
Continuing operations	$ (0.06)	$ 0.08
Discontinued operations	(0.06)	(0.10)
Basic earnings per common share	$ (0.12)	$ (0.02)
Average number of shares outstanding used in basic earnings per share computations	125.1	124.9
Diluted earnings (loss) per common share attributable to FMC stockholders:
Continuing operations	$ (0.06)	$ 0.08
Discontinued operations	(0.06)	(0.10)
Diluted earnings per common share	$ (0.12)	$ (0.02)
Average number of shares outstanding used in diluted earnings per share computations	125.1	125.2

Other Data:
Capital additions and other investing activities	$ 37.4	$ 23.4
Depreciation and amortization expense	43.7	45.7

FMC CORPORATION RECONCILIATION OF NON-GAAP FINANCIAL MEASURES RECONCILIATION OF NET INCOME (LOSS) ATTRIBUTABLE TO FMC STOCKHOLDERS (GAAP) TOADJUSTED AFTER-TAX EARNINGS FROM CONTINUING OPERATIONS, ATTRIBUTABLE TO FMCSTOCKHOLDERS (NON-GAAP) (Unaudited and in millions, except per share amounts)

	Three Months Ended March 31,
	2025	2024
Net income (loss) attributable to FMC stockholders (GAAP)	$ (15.5)	$ (2.7)
Corporate special charges (income):
Restructuring and other charges (income) (a)	17.8	40.9
Non-operating pension and postretirement charges (income) (b)	3.2	4.3
Income tax expense (benefit) on Corporate special charges (income) (c)	(4.4)	(9.6)
Discontinued operations attributable to FMC stockholders, net of income taxes (d)	7.0	12.5
Tax adjustment (e)	14.3	—
Adjusted after-tax earnings from continuing operations attributable to FMC stockholders (Non-GAAP) (1)	$ 22.4	$ 45.4

Diluted earnings per common share (GAAP)	$ (0.12)	$ (0.02)
Corporate special charges (income) per diluted share, before tax:
Restructuring and other charges (income)	0.14	0.33
Non-operating pension and postretirement charges (income)	0.03	0.03
Income tax expense (benefit) on Corporate special charges (income), per diluted share	(0.04)	(0.08)
Discontinued operations attributable to FMC stockholders, net of income taxes per diluted share	0.06	0.10
Tax adjustments per diluted share	0.11	—
Diluted adjusted after-tax earnings from continuing operations per share, attributable to FMC stockholders (Non-GAAP)	$ 0.18	$ 0.36

Average number of shares outstanding used in diluted adjusted after-tax earnings from continuing operations per share computations (2)	125.5	125.2

____________________
(1)	Referred to as Adjusted earnings. The Company believes that Adjusted earnings, a Non-GAAP financial measure, and its presentation on a per share basis provides useful information about the Company's operating results to management, investors, and securities analysts. Adjusted earnings excludes the effects of corporate special charges, tax-related adjustments and the results of our discontinued operations. The Company also believes that excluding the effects of these items from operating results allows management and investors to compare more easily the financial performance of its underlying business from period to period.

(2)	The average number of shares outstanding used in the three months ended March 31, 2025 diluted adjusted after-tax earnings from continuing operations per share computation (Non-GAAP) includes 0.4 million diluted shares. This number of shares differs from the average number of shares outstanding used in diluted earnings per share computations (GAAP) as we had a net loss from continuing operations attributable to FMC stockholders.

(a)	Three Months Ended March 31, 2025:

	Restructuring and other charges (income) includes restructuring charges of $13.6 million primarily related to the previously announced global restructuring plan, referred to as "Project Focus." Charges incurred related to Project Focus consist of $6.6 million of professional service provider costs and other miscellaneous charges, $4.2 million of severance and employee separation costs, and accelerated depreciation of $3.1 million on assets identified for disposal in connection with the restructuring initiative. Other charges (income) of $4.2 million is comprised of $3.5 million of charges associated with our environmental sites and $0.7 million of other miscellaneous charges.

	Three Months Ended March 31, 2024:

	Restructuring and other charges (income) includes restructuring charges of $33.7 million. Charges incurred are primarily related to Project Focus and include $18.9 million of severance and employee separation costs in connection with various global workforce reduction actions, $11.7 million of professional service provider costs associated with the project, accelerated depreciation of $2.3 million on assets identified for disposal in connection with the restructuring initiative, and $0.5 million of other miscellaneous charges. Other charges (income) of $7.2 million is comprised of $3.3 million of charges associated with our environmental sites and $3.9 million of other miscellaneous charges.

(b)	Our non-operating pension and postretirement charges (income) are defined as those costs (benefits) related to interest, expected return on plan assets, amortized actuarial gains and losses and the impacts of any plan curtailments or settlements. These are excluded from our Adjusted Earnings and are primarily related to changes in pension plan assets and liabilities which are tied to financial market performance and we consider these costs to be outside our operational performance. We continue to include the service cost and amortization of prior service cost in our Adjusted Earnings results noted above. These elements reflect the current year operating costs to our businesses for the employment benefits provided to active employees.

(c)	The income tax expense (benefit) on Corporate special charges (income) is determined using the applicable rates in the taxing jurisdictions in which the corporate special charge or income occurred and includes both current and deferred income tax expense (benefit) based on the nature of the non-GAAP performance measure.

(d)	Discontinued operations includes provisions, net of recoveries, for environmental liabilities and legal reserves and expenses related to previously discontinued operations and retained liabilities.

(e)	We exclude the GAAP tax provision, including discrete items, from the Non-GAAP measure of income, and include a Non-GAAP tax provision based upon the projected annual Non-GAAP effective tax rate. The GAAP tax provision includes certain discrete tax items including, but are not limited to: income tax expenses or benefits that are not related to continuing operating results in the current year; tax adjustments associated with fluctuations in foreign currency remeasurement of certain foreign operations; certain changes in estimates of tax matters related to prior fiscal years; certain changes in the realizability of deferred tax assets and related interim accounting impacts; and changes in tax law. In 2024 and 2023, we recorded significant deferred tax assets due to various tax incentives granted to the Company's Swiss subsidiaries (the "Swiss Tax Incentives"). The initial recognition of these Swiss Tax Incentives did not impact our adjusted non-GAAP effective tax rate but will be considered annually as we realize the benefits. Management believes excluding these discrete tax items, as well as the impacts of the Swiss Tax Incentives annually as the related benefits are realized, assists investors and securities analysts in understanding the tax provision and the effective tax rate related to continuing operating results thereby providing investors with useful supplemental information about FMC's operational performance.

	Three Months Ended March 31,
(in Millions)	2025	2024
Tax adjustments:
Revisions to valuation allowances of historical deferred tax assets	$ (1.2)	$ (1.6)
Net impact of Switzerland tax incentives	2.8	—
Foreign currency remeasurement and other discrete items	12.7	1.6
Total Non-GAAP tax adjustments	$ 14.3	$ —

RECONCILIATION OF NET INCOME (LOSS) (GAAP) TO ADJUSTED EARNINGS FROM CONTINUINGOPERATIONS, BEFORE INTEREST, INCOME TAXES, DEPRECIATION AND AMORTIZATION,AND NONCONTROLLING INTERESTS (NON-GAAP) (Unaudited, in millions)

	Three Months Ended March 31,
	2025	2024
Net income (loss) (GAAP)	$ (15.6)	$ (3.1)
Restructuring and other charges (income)	17.8	40.9
Non-operating pension and postretirement charges (income)	3.2	4.3
Discontinued operations, net of income taxes	7.0	12.5
Interest expense, net	50.1	61.7
Depreciation and amortization	43.7	45.7
Provision (benefit) for income taxes	13.5	(1.4)
Adjusted earnings from continuing operations, before interest, income taxes, depreciation and amortization, and noncontrolling interests (Non-GAAP) (1)	$ 119.7	$ 160.6

___________________
(1)	Referred to as Adjusted EBITDA. Defined as operating profit excluding restructuring and other charges (income) and depreciation and amortization expense.

RECONCILIATION OF CASH PROVIDED (REQUIRED) BY OPERATING ACTIVITIES OFCONTINUING OPERATIONS (GAAP) TO FREE CASH FLOW (NON-GAAP) (Unaudited, in millions)

	Three Months Ended March 31,
	2025	2024
Cash provided (required) by operating activities of continuing operations (GAAP) (1)	$ (545.0)	$ (142.9)

Capital expenditures	(31.6)	(20.7)
Other investing activities	(5.8)	(2.7)
Capital additions and other investing activities	$ (37.4)	$ (23.4)

Cash provided (required) by operating activities of discontinued operations	(13.3)	(21.5)

Free cash flow (Non-GAAP) (2)	$ (595.7)	$ (187.8)

__________________
(1)	Includes cash payments made in connection with our Project Focus transformation program of $55.7 million and $39.9 million for the three months ended March 31, 2025 and 2024, respectively.
(2)	Free cash flow is defined as cash provided (required) by operating activities of continuing operations (GAAP) adjusted for spending for capital additions and other investing activities as well as cash provided (required) by discontinued operations and divestiture transaction costs associated with the sale of our GSS business. We believe that this Non-GAAP financial measure provides a useful basis for investors and securities analysts to evaluate the cash generated by routine business operations, including to assess our our ability to repay debt, fund acquisitions and return capital to shareholders through share repurchases and dividends. Our use of free cash flow has limitations as an analytical tool and should not be considered in isolation or as a substitute for an analysis of our results under U.S. GAAP.

RECONCILIATION OF REVENUE CHANGE (GAAP) TO ORGANIC REVENUE CHANGE (NON-GAAP) (1) (Unaudited)

	Three Months EndedMarch 31, 2025 vs. 2024
Total Revenue Change (GAAP)	(14) %
Less: Foreign Currency Impact	(4) %
Organic Revenue Change (Non-GAAP)	(10) %

___________________
(1)	We believe organic revenue growth (non-GAAP) provides management and investors with useful supplemental information regarding our ongoing revenue performance and trends by presenting revenue growth excluding the impact of fluctuations in foreign exchange rates.

RECONCILIATION OF NET INCOME (LOSS) ATTRIBUTABLE TO FMC STOCKHOLDERS (GAAP) TO RETURN ON INVESTED CAPITAL ("ROIC") NUMERATOR (NON-GAAP) AND ADJUSTED ROIC (USING NON-GAAP NUMERATOR)(1) (Unaudited)

	Twelve Months Ended
	March 31, 2025
Net income (loss) attributable to FMC stockholders (GAAP)	$ 328.3
Interest expense, net, net of income taxes	196.4
Corporate special charges (income)	213.8
Income tax expense (benefit) on Corporate special charges (income)	(31.9)
Discontinued operations attributable to FMC stockholders, net of income taxes	56.3
Tax adjustments	(153.2)
ROIC numerator (Non-GAAP)	$ 609.7

	March 31, 2025	March 31, 2024
Total debt	$ 4,003.5	$ 4,335.7
Total FMC stockholders' equity	4,382.0	4,311.5
Total debt and FMC stockholders' equity (GAAP)	$ 8,385.5	$ 8,647.2
ROIC denominator (2 yr average total debt and FMC stockholders' equity)	$ 8,516.4

ROIC (using Net income (loss) attributable to FMC stockholders (GAAP) as numerator)	3.85 %
Adjusted ROIC (using Non-GAAP numerator)	7.16 %

___________________
(1)	We believe Adjusted ROIC (non-GAAP) provides management and investors with useful supplemental information regarding our utilization of capital provided by both equity and debt as well as our working capital and free cash flow management. Additionally, vesting of certain restricted stock awards granted to officers is connected to Adjusted ROIC as a performance metric.

FMC CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited, in millions)

	March 31, 2025	December 31, 2024
Cash and cash equivalents	$ 315.3	$ 357.3
Trade receivables, net of allowance of $40.4 in 2025 and $39.4 in 2024	2,900.1	2,903.2
Inventories	1,374.4	1,201.6
Prepaid and other current assets	487.8	496.2
Total current assets	$ 5,077.6	$ 4,958.3
Property, plant and equipment, net	858.7	849.7
Goodwill	1,515.1	1,507.0
Other intangibles, net	2,366.6	2,360.7
Deferred income taxes	1,527.2	1,523.8
Other long-term assets	455.7	453.8
Total assets	$ 11,800.9	$ 11,653.3
Short-term debt and current portion of long-term debt	$ 975.8	$ 337.4
Accounts payable, trade and other	801.8	768.5
Advanced payments from customers	1.8	453.8
Accrued and other liabilities	776.6	755.2
Accrued customer rebates	570.1	489.9
Guarantees of vendor financing	73.4	85.5
Accrued pensions and other postretirement benefits, current	3.0	6.4
Income taxes	102.8	122.5
Total current liabilities	$ 3,305.3	$ 3,019.2
Long-term debt, less current portion	$ 3,027.7	$ 3,027.9
Long-term liabilities	1,056.3	1,097.4
Equity	4,411.6	4,508.8
Total liabilities and equity	$ 11,800.9	$ 11,653.3

FMC CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited, in millions)

	Three Months Ended March 31,
	2025	2024
Cash provided (required) by operating activities of continuing operations	$ (545.0)	$ (142.9)

Cash provided (required) by operating activities of discontinued operations	(13.3)	(21.5)

Cash provided (required) by investing activities of continuing operations	(38.0)	(23.7)

Cash provided (required) by financing activities of continuing operations	552.1	305.7

Effect of exchange rate changes on cash	2.2	(2.2)

Increase (decrease) in cash and cash equivalents	$ (42.0)	$ 115.4

Cash and cash equivalents, beginning of period	$ 357.3	$ 302.4

Cash and cash equivalents, end of period	$ 315.3	$ 417.8

Cision

View original content to download multimedia:https://www.prnewswire.com/news-releases/fmc-corporation-delivers-first-quarter-results-at-higher-end-of-guidance-range-reaffirms-full-year-outlook-302443179.html

SOURCE FMC Corporation

There are a few key trends to look for if we want to identify the next multi-bagger. Ideally, a business will show two trends; firstly a growing return on capital employed (ROCE) and secondly, an increasing amount of capital employed. If you see this, it typically means it's a company with a great business model and plenty of profitable reinvestment opportunities. In light of that, when we looked at FMC (NYSE:FMC) and its ROCE trend, we weren't exactly thrilled.

We've discovered 4 warning signs about FMC. View them for free.

What Is Return On Capital Employed (ROCE)?

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

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

0.074 = US$635m ÷ (US$12b – US$3.0b) (Based on the trailing twelve months to December 2024).

Therefore, FMC has an ROCE of 7.4%. On its own, that's a low figure but it's around the 8.4% average generated by the Chemicals industry.

Check out our latest analysis for FMC

NYSE:FMC Return on Capital Employed April 30th 2025

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

What Does the ROCE Trend For FMC Tell Us?

When we looked at the ROCE trend at FMC, we didn't gain much confidence. To be more specific, ROCE has fallen from 15% over the last five years. On the other hand, the company has been employing more capital without a corresponding improvement in sales in the last year, which could suggest these investments are longer term plays. It may take some time before the company starts to see any change in earnings from these investments.

Our Take On FMC's ROCE

To conclude, we've found that FMC is reinvesting in the business, but returns have been falling. Since the stock has declined 47% over the last five years, investors may not be too optimistic on this trend improving either. All in all, the inherent trends aren't typical of multi-baggers, so if that's what you're after, we think you might have more luck elsewhere.

One final note, you should learn about the 4 warning signs we've spotted with FMC (including 1 which doesn't sit too well with us) .

While FMC isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.

We recently published a list of Jim Cramer Commented on These 8 Stocks Recently. In this article, we are going to take a look at where BHP Group Limited (NYSE:BHP) stands against other stocks that Jim Cramer discussed recently.

On Friday, Jim Cramer, host of Mad Money, revisited the recent turbulence in artificial intelligence stocks, three months after the emergence of DeepSeek, a Chinese AI firm that initially rattled markets. He noted that despite the broad pullback in the sector, many of the fears triggered by DeepSeek’s debut have not materialized, which has led to a reconsideration of the panic that followed.

“Three months ago, January 23rd is a day that will live in artificial intelligence infamy. That’s when we learned that a Chinese firm called DeepSeek had figured out a way to train high quality generative AI models using far less hardware. They claim their hardware costs were around $6 million versus 80 to $100 million for their enormous American competitors.”

“We understand that they’re basically sold out for the year, even as they can only sell their best stuff in the United States and the 18 friendly countries.”

“Even with the trade war, the AI infrastructure theme seems totally back on track. In fact, it never left the track to begin with.”

Our Methodology

For this article, we compiled a list of 8 stocks that were discussed by Jim Cramer during the episode of Mad Money aired on April 25. We listed the stocks in ascending order of their hedge fund sentiment as of the fourth quarter of 2024, which was taken from Insider Monkey’s database of over 1,000 hedge funds.

Jim Cramer On BHP Group (BHP) – Holy Cow, Great Yield

An aerial view of a mining operation in action, with large trucks and yellow diggers.

BHP Group Limited (NYSE:BHP)

Number of Hedge Fund Holders: 28

Mentioning the CEO change and lawsuits, a caller asked if they should buy more or just hold BHP Group Limited (NYSE:BHP). Cramer replied:

“I like BHP, Broken Hill. I remember it was Broken Hill Proprietary. That’s how old I am. Holy cow. But I like the story. I like the yield. I think you got a good situation going there.”

BHP (NYSE:BHP) is a global resources company involved in mining a variety of metals and minerals, including copper, iron ore, coal, and nickel. It also offers services like freight, marketing, and finance.

BHP (NYSE:BHP) reported record copper production of 1.5 million tonnes for the nine months ending 31 March 2025, driven by a 20% increase at Escondida and strong output from all other operated copper assets. The company revised its growth schedule at Escondida, including extending the Los Colorados concentrator’s life beyond FY29. The company expects the updates to add around 400,000 tonnes of additional copper and support annual production guidance of 900,000 to 1 million tonnes through FY31.

Overall, BHP ranks 8th on our list of stocks that Jim Cramer discussed recently. While we acknowledge the potential of BHP as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than BHP but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.

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

Key Insights

The projected fair value for Antofagasta is UK£32.50 based on 2 Stage Free Cash Flow to Equity
Current share price of UK£16.80 suggests Antofagasta is potentially 48% undervalued
The US$18.54 analyst price target for ANTO is 43% less than our estimate of fair value

How far off is Antofagasta plc (LON:ANTO) from its intrinsic value? Using the most recent financial data, we'll take a look at whether the stock is fairly priced by estimating the company's future cash flows and discounting them to their present value. This will be done using the Discounted Cash Flow (DCF) model. It may sound complicated, but actually it is quite simple!

Remember though, that there are many ways to estimate a company's value, and a DCF is just one method. Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model.

Our free stock report includes 1 warning sign investors should be aware of before investing in Antofagasta. Read for free now.

Is Antofagasta Fairly Valued?

We're using the 2-stage growth model, which simply means we take in account two stages of company's growth. In the initial period the company may have a higher growth rate and the second stage is usually assumed to have a stable growth rate. To start off with, we need to estimate the next ten years of cash flows. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.

Generally we assume that a dollar today is more valuable than a dollar in the future, so we need to discount the sum of these future cash flows to arrive at a present value estimate:

10-year free cash flow (FCF) forecast

	2025	2026	2027	2028	2029	2030	2031	2032	2033	2034
Levered FCF ($, Millions)	-US$936.7m	US$294.0m	US$1.79b	US$2.30b	US$2.70b	US$3.03b	US$3.32b	US$3.57b	US$3.77b	US$3.95b
Growth Rate Estimate Source	Analyst x7	Analyst x5	Analyst x5	Analyst x2	Est @ 16.99%	Est @ 12.58%	Est @ 9.50%	Est @ 7.34%	Est @ 5.83%	Est @ 4.77%
Present Value ($, Millions) Discounted @ 8.4%	-US$864	US$250	US$1.4k	US$1.7k	US$1.8k	US$1.9k	US$1.9k	US$1.9k	US$1.8k	US$1.8k

("Est" = FCF growth rate estimated by Simply Wall St)Present Value of 10-year Cash Flow (PVCF) = US$13b

After calculating the present value of future cash flows in the initial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. The Gordon Growth formula is used to calculate Terminal Value at a future annual growth rate equal to the 5-year average of the 10-year government bond yield of 2.3%. We discount the terminal cash flows to today's value at a cost of equity of 8.4%.

Terminal Value (TV)= FCF2034 × (1 + g) ÷ (r – g) = US$4.0b× (1 + 2.3%) ÷ (8.4%– 2.3%) = US$66b

Present Value of Terminal Value (PVTV)= TV / (1 + r)10= US$66b÷ ( 1 + 8.4%)10= US$30b

The total value is the sum of cash flows for the next ten years plus the discounted terminal value, which results in the Total Equity Value, which in this case is US$43b. To get the intrinsic value per share, we divide this by the total number of shares outstanding. Relative to the current share price of UK£16.8, the company appears quite undervalued at a 48% discount to where the stock price trades currently. Remember though, that this is just an approximate valuation, and like any complex formula – garbage in, garbage out.

LSE:ANTO Discounted Cash Flow April 29th 2025The Assumptions

Now the most important inputs to a discounted cash flow are the discount rate, and of course, the actual cash flows. If you don't agree with these result, have a go at the calculation yourself and play with the assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Antofagasta as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 8.4%, which is based on a levered beta of 1.190. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business.

See our latest analysis for Antofagasta

SWOT Analysis for Antofagasta

Strength

Debt is not viewed as a risk.

Weakness

Earnings declined over the past year.

Dividend is low compared to the top 25% of dividend payers in the Metals and Mining market.

Opportunity

Annual earnings are forecast to grow faster than the British market.

Trading below our estimate of fair value by more than 20%.

Threat

Paying a dividend but company has no free cash flows.

Revenue is forecast to grow slower than 20% per year.

Next Steps:

Whilst important, the DCF calculation ideally won't be the sole piece of analysis you scrutinize for a company. It's not possible to obtain a foolproof valuation with a DCF model. Instead the best use for a DCF model is to test certain assumptions and theories to see if they would lead to the company being undervalued or overvalued. For example, changes in the company's cost of equity or the risk free rate can significantly impact the valuation. Can we work out why the company is trading at a discount to intrinsic value? For Antofagasta, we've compiled three essential aspects you should explore:

Risks: For example, we've discovered 1 warning sign for Antofagasta that you should be aware of before investing here.

Future Earnings: How does ANTO's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with our free analyst growth expectation chart.

Other High Quality Alternatives: Do you like a good all-rounder? Explore our interactive list of high quality stocks to get an idea of what else is out there you may be missing!

PS. The Simply Wall St app conducts a discounted cash flow valuation for every stock on the LSE every day. If you want to find the calculation for other stocks just search here.

Toronto, Ontario–(Newsfile Corp. – April 29, 2025) – Minnova Corp. (TSXV: MCI) (OTC Pink: AGRDF) ("Minnova" or the "Company"), is pleased to provide an update on the Company's 100%-owned PL Gold Mine and our plans for 2025 and 2026 that could lead to the restart of gold mining operations.

The PL Gold Mine is an advanced development stage gold project. The Company published results of a positive Feasibility Study in 2018 that forecast an average annual production rate of 46,493 ounces over a minimum 5-year mine life. Using a then long-term gold price of US$1,250/oz the study forecast the majority of gold production from underground mining operations with contributions from shallow open pits over the mine life. With current gold price over US$3,000/oz the Company is working with consultants to optimize the mine development plan, including: a) restart the mine with initial production from open pit operations before transitioning to underground mining, b) drilling programs to further expand and define the existing mineral resource estimates, c) metallurgical programs to improve gold recovery and optimize the process flow sheet and d) test property wide exploration potential including the satellite Nokomis Deposit located 7km north east of the PL Mine site. The last phase of drilling at Nokomis was in 2011 which consisted of 11 holes totaling 1,823 m. The results of the program, press released March 1 2012, returned impressive high grade gold mineralization including1;

125.08 g/t over 7.6 m (incl. 1,830 g/t over 0.5 m);
12.27 g/t over 5.2 m;
5.1 g/t over 6.43 m;
9.62 g/t over 5.6 m (incl. 62.23 g/t over 0.53 m)

Table 1: Summary of PL Gold Mine Restart Programs Planned for 2025 and 2026.

Deposit	Activity	Objective	Impact
PL Deposit	Resource expansion drilling.	Further delineate and expand the PL North mineralized structures and update deposit-scale geological model	Potential to expand gold mineralization. PL North not currently included in the 2017 Mineral Resource Estimate (MRE).
	Resource infill drilling	Tighter drill spacing to better delineate existing mineralized structures. Focused on near surface future open pits.	Update and define mineralized domains, update MRE and open pit and underground mine plans
	Update and Amend Permits	Amend current underground mining license (Environment Act License 1207E) to include open pit mining methods.	Update mine plan from 2017 Feasibility Study to consider expanded open pit production starting in year 1
Nokomis Deposit	Resource infill and expansion drilling.	Expand and delineate Nokomis mineralized structures.	Update MRE and analyse contribution to overall PL development plan as potential satellite open pit / underground mine.
PL and Nokomis Deposits	Submit Application for an Advanced Exploration Permits ("AEP").	Consider two 10,000 tonne open pit bulk samples. One on the PL deposit and one at the satellite Nokomis deposit.	The PL bulk sample will be used for updated metallurgical test work including ore sorting and gravity recovery. At Nokomis the bulk sample will be used for initial metallurgical test work and to develop logistics solutions for future satellite mine operations.
PL and Nokomis Deposits	Updated metallurgical test work.	Reduced tonnage to mill at higher grade can result in higher gold recoveries, reduced consumables and lower processing costs.	Enhance gold recovery and optimize overall processing costs.
Property Wide Exploration	Review surface showings and historical drill results outside of PL and Nokomis deposits.	Identify and prioritize targets for follow-up drill testing.	Demonstrate exploration potential of property.

Gorden Glenn, CEO commented, "The planned 2025 and 2026 programs will build on the considerable existing technical database and prior studies. This work will inform an updated Feasibility Study that will include a new optimized mine plan using a much higher gold price than the US$1,250/oz used in the 2018 Feasibility Study."

Qualified Person

Mr. Chris Buchanan, M. Sc., P. Geo., is an independent consultant of the Company and a "Qualified Person" under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release.

About Minnova Corp.

Minnova Corp. is focused on the restart of its PL Gold Mine, which included completion of a Positive Feasibility Study in 2018. The study concluded the restart of the PL Mine, at an average annual production rate of 46,493 ounces over a minimum 5-year mine life, was economically robust. Importantly the global resource remains open to expansion, as does the reserve. The PL Gold Mine benefits from a short pre-production timeline forecast at 15 months, a valid underground mining permit (Environment Act 1207E), an existing 1,000 tpd processing plant, over 7,000 meters of developed underground ramp to -135 metres depth. The project is fully road accessible and close to existing mining infrastructure in the prolific Flin Flon Greenstone Belt of Central Manitoba.

For more information please contact:

Minnova Corp.Gorden GlennPresident & Chief Executive Officer

Investor Relations: info@minnovacorp.ca

Website: www.minnovacorp.ca

Forward-Looking Statements

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

This news release contains certain "forward-looking information" within the meaning of applicable securities laws. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is 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. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.

[1] https://www.globenewswire.com/news-release/2012/03/01/1477373/0/en/Auriga-Gold-Reports-High-Grade-Gold-Intersections-from-Nokomis-Deposit-Maverick-Gold-Project-Manitoba-Including-Uncut-Values-Up-to-1-830-g-t-Over-0-5-m.html

NOT FOR DISSEMINATION INTO THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/250155

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