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Toronto, Ontario–(Newsfile Corp. – March 7, 2025) – Minnova Corp. (TSXV: MCI) (OTC Pink: AGRDF) ("Minnova" or the "Company"), would like to provide the following corporate update.

Effective March 6, 2025, the Company has dissolved (the "Dissolution") it's wholly-owned subsidiary, Minnova Renewable Energy Ltd. ("MRE"). The Company confirms that as a result of the Dissolution, its sole focus will be on the exploration and development of its PL Gold Mine, located in central Manitoba.

In connection with the Company's proposed acquisition of all of the issued and outstanding common shares (the "DUMA Shares") of DUMA Engineering (2108) Inc. ("DUMA"), the Company incorporated MRE, which was to be the sole shareholder of DUMA and would focus on biomass gasification in connection with the Company's PL Gold Mine. In connection with the proposed transaction, on or about September 30, 2022, the Company advanced the principals of DUMA $100,000 for 50% of the issued and outstanding DUMA Shares. From September 2022 through January 2023, the Company and the shareholders of DUMA were negotiating the terms of the proposed transaction, however, negotiations were terminated in January 2023 and the Company did not proceed with the proposed transaction. To date, the Company has not received evidence of the 50% of the DUMA Shares and due to the Company's current financial position, it is unable to pursue legal action. However, the Company reserves the right to seek any legal recourse. A submission by the Company to the TSX Venture Exchange (the "TSXV") was not made with respect to the $100,000 advance for the initial 50% of the issued and outstanding DUMA Shares. As such, the TSXV did not provide the Company acceptance for the proposed transaction.

Following board review of MRE and considering investment requirements and alignment with shareholder feedback, it was determined that MRE should be dissolved and no further clean energy investments will be made.

As of December 31, 2024, the Company reported a working capital deficiency of $1,641,159. Upon the reinstatement of trading of the issued and outstanding common shares (the "Common Shares") in the capital of the Company on the TSXV, the Company intents to complete a private placement to reduce its working capital deficiency. In addition, further to the Company's press release of April 29, 2024, and December 19, 2024, shareholders of the Company approved a proposed debt settlement (the "Debt Settlement") of an aggregate of 15,999,999 Common Shares at a price of $0.05 per Common Share to settle an aggregate of $800,000 of indebtedness owed to certain creditors of the Company, including the settlement of the Promissory Notes (as defined below). The Debt Settlement will significantly improve the financial position of the Company. The completion of the Debt Settlement is anticipated to occur immediately following trading reinstatement. The Debt Settlement remains subject to approval of the TSXV.

Between July 12, 2022 and August 9, 2023, the Company issued unsecured interest bearing promissory notes (the "Promissory Notes") in the aggregate of $88,500 (the "Principal Amount"), to Mr. Gorden Glenn, the President and Chief Executive Officer of the Company (the "Creditor"). The Promissory Notes are payable upon receipt of a demand notice by the holder and bear interest at an interest rate of fifteen percent (15%) per annum. The Principal Amounts were used by the Company for general working capital purposes. As of the date hereof, there is $80,700 Principal Amount outstanding, plus interest. The Company will convert the outstanding Principal Amount into Common Shares as per of the Debt Settlement.

The issuance of the Promissory Notes constitutes a related party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101") as the Creditor is a director and officer of the Company. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(1)(b) of MI 61-101, as the Company is not listed on a specified market and the fair market value of the Principal Amount of the Promissory Notes does not exceed more than $2,500,000. The Company did not file a material change report more than 21 days before the issuance of the Promissory Notes as the Company wished to close on an expedited basis.

Finally, the Company confirms that it is subject to a reinstatement review by the TSXV. The review is ongoing and the Company will provide additional updates as they become available.

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 Glenn President & Chief Executive Officer

For further information, please contact Gorden Glenn at 647-985-2785 or info@minnovacorp.ca

Visit our website at 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.

NOT FOR DISSEMINATION INTO THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/243785

Investors were disappointed with the weak earnings posted by FMC Corporation (NYSE:FMC ). However, our analysis suggests that the soft headline numbers are getting counterbalanced by some positive underlying factors.

Check out our latest analysis for FMC

NYSE:FMC Earnings and Revenue History March 7th 2025The Impact Of Unusual Items On Profit

Importantly, our data indicates that FMC's profit was reduced by US$147m, due to unusual items, over the last year. It's never great to see unusual items costing the company profits, but on the upside, things might improve sooner rather than later. When we analysed the vast majority of listed companies worldwide, we found that significant unusual items are often not repeated. And, after all, that's exactly what the accounting terminology implies. If FMC doesn't see those unusual expenses repeat, then all else being equal we'd expect its profit to increase over the coming year.

That might leave you wondering what analysts are forecasting in terms of future profitability. Luckily, you can click here to see an interactive graph depicting future profitability, based on their estimates.

An Unusual Tax Situation

Just as we noted the unusual items, we must inform you that FMC received a tax benefit which contributed US$151m to the bottom line. This is meaningful because companies usually pay tax rather than receive tax benefits. The receipt of a tax benefit is obviously a good thing, on its own. However, the devil in the detail is that these kind of benefits only impact in the year they are booked, and are often one-off in nature. In the likely event the tax benefit is not repeated, we'd expect to see its statutory profit levels drop, at least in the absence of strong growth. So while we think it's great to receive a tax benefit, it does tend to imply an increased risk that the statutory profit overstates the sustainable earnings power of the business.

Our Take On FMC's Profit Performance

In the last year FMC received a tax benefit, which boosted its profit in a way that might not be much more sustainable than turning prime farmland into gas fields. Having said that, it also had a unusual item reducing its profit. Based on these factors, it's hard to tell if FMC's profits are a reasonable reflection of its underlying profitability. In light of this, if you'd like to do more analysis on the company, it's vital to be informed of the risks involved. Every company has risks, and we've spotted 4 warning signs for FMC (of which 1 is a bit unpleasant!) you should know about.

In this article we've looked at a number of factors that can impair the utility of profit numbers, as a guide to a business. But there is always more to discover if you are capable of focussing your mind on minutiae. Some people consider a high return on equity to be a good sign of a quality business. So you may wish to see this free collection of companies boasting high return on equity, or this list of stocks with high insider ownership.

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.

Teck Resources (TECK-B.TO) said Thursday it agreed to invest US$40 million in Bunker Hill Mining (BN

Teck Resources Ltd

VANCOUVER, British Columbia, March 06, 2025 (GLOBE NEWSWIRE) — Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) today announced an agreement with Bunker Hill Mining Corp. (“Bunker Hill”) for a US$40-million equity investment intended to enhance the North American critical minerals supply chain by securing high-quality, cost-competitive zinc and lead concentrate from Idaho’s Silver Valley to feed Teck’s Trail Operations (“Trail”). The investment is subject to various closing conditions, including completion of certain restructuring transactions and a marketed private placement by Bunker Hill and receipt of all necessary stockholder, regulatory and stock exchange approvals.

Highlights:

Investment will support the completion of development of the nearby Bunker Hill Mine, located 60 kilometres southeast of Coeur d’Alene, Idaho.
High-quality, cost-competitive feed from Bunker Hill will provide additional optionality and is expected to enhance Trail’s annual EBITDA.
Zinc and lead concentrate produced by the mine will go to Trail under an existing offtake agreement and supplement existing feed from Teck’s Red Dog Operations and from other sources.

Forward-Looking StatementsThis press release contains certain forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information as defined in the Securities Act (Ontario). Forward-looking statements and information can be identified by statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or achieved. Forward-looking statements include anticipated enhancements to Trail’s annual EBITDA and the expected delivery of zinc and lead under the offtake.

Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Teck to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.

Factors that may cause actual results to vary include, but are not limited to, timing for construction and ramp up of the Bunker Hill Mine by Bunker Hill, changes to assumed logistics costs or routes, and other risk factors impacting Teck’s business as detailed in Teck’s annual information form and in its public filings with Canadian securities administrators and the U.S. Securities and Exchange Commission. Teck does not assume the obligation to revise or update these forward-looking statements after the date of this document, except as may be required under applicable securities laws.

About TeckTeck is a leading Canadian resource company focused on responsibly providing metals essential to economic development and the energy transition. Teck has a portfolio of world-class copper and zinc operations across North and South America and an industry-leading copper growth pipeline. We are focused on creating value by advancing responsible growth and ensuring resilience built on a foundation of stakeholder trust. Headquartered in Vancouver, Canada, Teck’s shares are listed on the Toronto Stock Exchange under the symbols TECK.A and TECK.B and the New York Stock Exchange under the symbol TECK. Learn more about Teck at www.teck.com or follow @TeckResources.

Investor Contact:Emma ChapmanVice President, Investor Relations +44.207.509.6576emma.chapman@teck.com

Media Contact:Dale SteevesDirector, External Communications236.987.7405 dale.steeves@teck.com

Freeport-McMoRan (FCX) shares rallied 9.3% in the last trading session to close at $38.16. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 4.3% loss over the past four weeks.

FCX’s rally appears to be driven by a surge in copper prices after President Trump suggested imports of the metal would be subject to a 25% tariff. A weaker dollar coupled with China’s fresh stimulus measures also contributed to the rally in copper prices.

This mining company is expected to post quarterly earnings of $0.29 per share in its upcoming report, which represents a year-over-year change of -9.4%. Revenues are expected to be $5.54 billion, down 12.3% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For Freeport-McMoRan, the consensus EPS estimate for the quarter has been revised 11.9% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on FCX going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Freeport-McMoRan is part of the Zacks Mining – Non Ferrous industry. First Quantum Minerals (FQVLF), another stock in the same industry, closed the last trading session 10.4% higher at $12.89. FQVLF has returned -11.6% in the past month.

For First Quantum Minerals , the consensus EPS estimate for the upcoming report has changed -250.8% over the past month to -$0.05. This represents a change of +75% from what the company reported a year ago. First Quantum Minerals currently has a Zacks Rank of #3 (Hold).

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

Freeport-McMoRan Inc. (FCX) : Free Stock Analysis Report

First Quantum Minerals Ltd. (FQVLF) : Free Stock Analysis Report

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

Zacks Investment Research

Freeport-McMoRan (FCX) closed at $37.68 in the latest trading session, marking a -1.26% move from the prior day. The stock exceeded the S&P 500, which registered a loss of 1.78% for the day. Elsewhere, the Dow lost 0.99%, while the tech-heavy Nasdaq lost 2.61%.

Prior to today's trading, shares of the mining company had gained 4.03% over the past month. This has outpaced the Basic Materials sector's loss of 0.13% and the S&P 500's loss of 3.48% in that time.

Analysts and investors alike will be keeping a close eye on the performance of Freeport-McMoRan in its upcoming earnings disclosure. On that day, Freeport-McMoRan is projected to report earnings of $0.29 per share, which would represent a year-over-year decline of 9.38%. At the same time, our most recent consensus estimate is projecting a revenue of $5.54 billion, reflecting a 12.31% fall from the equivalent quarter last year.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.70 per share and a revenue of $26.32 billion, signifying shifts of +14.86% and +3.41%, respectively, from the last year.

It is also important to note the recent changes to analyst estimates for Freeport-McMoRan. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.97% lower. Freeport-McMoRan is currently a Zacks Rank #3 (Hold).

In the context of valuation, Freeport-McMoRan is at present trading with a Forward P/E ratio of 22.48. Its industry sports an average Forward P/E of 16, so one might conclude that Freeport-McMoRan is trading at a premium comparatively.

Meanwhile, FCX's PEG ratio is currently 0.84. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Mining – Non Ferrous industry held an average PEG ratio of 0.81.

The Mining – Non Ferrous industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 192, this industry ranks in the bottom 24% of all industries, numbering over 250.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow FCX in the coming trading sessions, be sure to utilize Zacks.com.

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Freeport-McMoRan Inc. (FCX) : Free Stock Analysis Report

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

Zacks Investment Research

As the U.S. stock market experiences a surge following a temporary reprieve from tariffs for automakers, investors are keenly observing how these developments might influence broader economic conditions. In this dynamic environment, dividend stocks can offer stability and income potential, making them an attractive consideration for those looking to navigate market fluctuations while seeking consistent returns.

Top 10 Dividend Stocks In The United States

Name	Dividend Yield	Dividend Rating
Columbia Banking System (NasdaqGS:COLB)	5.70%	★★★★★★
Interpublic Group of Companies (NYSE:IPG)	4.86%	★★★★★★
Douglas Dynamics (NYSE:PLOW)	4.63%	★★★★★★
Dillard’s (NYSE:DDS)	7.19%	★★★★★★
Regions Financial (NYSE:RF)	6.45%	★★★★★★
Peoples Bancorp (NasdaqGS:PEBO)	5.22%	★★★★★★
Southside Bancshares (NYSE:SBSI)	4.84%	★★★★★★
First Interstate BancSystem (NasdaqGS:FIBK)	6.51%	★★★★★★
Citizens & Northern (NasdaqCM:CZNC)	5.47%	★★★★★★
Isabella Bank (OTCPK:ISBA)	4.66%	★★★★★★

Click here to see the full list of 148 stocks from our Top US Dividend Stocks screener.

Here’s a peek at a few of the choices from the screener.

WaFd

Simply Wall St Dividend Rating: ★★★★☆☆

Overview: WaFd, Inc., with a market cap of $2.36 billion, operates as the bank holding company for Washington Federal Bank, offering lending, depository, insurance, and other banking services across the United States.

Operations: WaFd, Inc. generates revenue primarily from its Banking and Financial Services segment, which accounts for $708.75 million.

Dividend Yield: 3.6%

WaFd offers a stable dividend yield of 3.6%, supported by a low payout ratio of 46.9%, indicating coverage by earnings. The dividend has been reliable and growing over the past decade, though it remains below the top quartile of U.S. dividend payers. Recent news includes an increase in its quarterly cash dividend to $0.27 per share, payable March 7, 2025, and a shelf registration filing for $97 million in common stock related to an ESOP offering.

NasdaqGS:WAFD Dividend History as at Mar 2025Global Ship Lease

Simply Wall St Dividend Rating: ★★★★☆☆

Overview: Global Ship Lease, Inc. operates by owning and chartering containerships under fixed-rate agreements to container shipping companies globally, with a market cap of approximately $755.59 million.

Operations: Global Ship Lease, Inc. generates revenue by leasing its fleet of containerships to global container shipping companies through fixed-rate charters.

Dividend Yield: 7.8%

Global Ship Lease, Inc. offers a high dividend yield of 7.81%, placing it in the top 25% of U.S. dividend payers, with dividends well-covered by both earnings (18.3% payout ratio) and cash flows (34% cash payout ratio). However, its dividend history is marked by volatility and unreliability over the past decade. Recent financial results show revenue growth to US$711.06 million and net income increase to US$353.63 million for 2024, supporting current payouts despite historical instability in dividends.

NYSE:GSL Dividend History as at Mar 2025Southern Copper

Simply Wall St Dividend Rating: ★★★★☆☆

Overview: Southern Copper Corporation operates in mining, exploring, smelting, and refining copper and other minerals across Peru, Mexico, Argentina, Ecuador, and Chile with a market cap of approximately $68.41 billion.

Operations: Southern Copper Corporation generates revenue through its operations in mining, exploration, smelting, and refining of copper and other minerals across several countries in South America.

Dividend Yield: 3.1%

Southern Copper’s recent dividend announcement of US$0.70 per share reflects a sustainable payout, supported by a 48.2% earnings payout ratio and a 64.8% cash flow coverage. Despite these strengths, the company’s dividend yield of 3.05% is below the top tier in the U.S., and its historical dividend reliability has been volatile over the past decade. However, significant growth in both revenue (US$11.43 billion) and net income (US$3.38 billion) for 2024 underpins current dividends amidst past instability.

NYSE:SCCO Dividend History as at Mar 2025Make It Happen

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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 NasdaqGS:WAFD NYSE:GSL and NYSE:SCCO.

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

Sociedad Quimica y Minera de Chile S.A. SQM logged earnings of 42 cents per share in fourth-quarter 2024, down from 71 cents per share registered in the year-ago quarter. Earnings per share also fell short of the Zacks Consensus Estimate of 52 cents.Find the latest earnings estimates and surprises on Zacks Earnings Calendar.SQM generated revenues of $1,073.8 million in the quarter, down around 18% year over year. The figure beat the Zacks Consensus Estimate of $1,010 million.

SQM’s Segment Highlights

Revenues from the Lithium and Derivatives segment fell around 33% year over year to $532 million in the reported quarter. Despite a roughly 13% increase in lithium sales volumes, the downside was caused by lower prices.The Specialty Plant Nutrients (SPN) segment generated revenues of $224.6 million, up around 0.4% year over year. This upside was driven by higher sales volumes, partly masked by lower prices.The Iodine and Derivatives segment posted revenues of $225.6 million, up around 3% from the prior year’s levels, benefiting from higher prices.Revenues from the Potassium business climbed around 30% year over year to $65.9 million on higher sales volumes.The Industrial Chemicals unit recorded sales of $17.2 million, down roughly 9% year over year. The downside was due to significantly lower sales volumes despite higher prices.

SQM’s FY24 Results

Loss (as reported) for full-year 2024 was $1.42 per share. This is in contrast with earnings of $7.05 a year ago. Sales fell around 39% year over year to roughly $4,528.8 million.

SQM’s Financials

The company’s cash and cash equivalents were $1,377.9 million at the end of 2024, up around 32% year over year. Long-term debt was $3,600.6 million, up roughly 12% from the prior year.

SQM’s Outlook

SQM expects a roughly 15% increase in sales volumes in the Lithium and Derivatives unit in 2025 compared to 2024, including sales of around 10,000 metric tons of LCE from the Mt. Holland operation. Average realized prices are projected to be lower year over year in 2025.For the SPN unit, the company expects an increase in sales volumes in 2025, in line with or slightly above the expected market growth of around 4-5%. For the Iodine and Derivatives segment, SQM expects market demand to stabilize, with market growth of roughly 2% in 2025 from the prior year. Sales volumes are forecast to remain in line with 2024 levels. SQM sees a reduction of around 50% in potassium sales volumes in 2025 due to lower production in the Salar de Atacama.The company expects capital expenditure for 2025 to be roughly $1.1 billion.

SQM Stock’s Price Performance

SQM’s shares have lost 14.7% over a year compared with the Zacks Fertilizers industry’s decline of 12.8%.

Zacks Investment Research

Image Source: Zacks Investment Research

SQM’s Zacks Rank & Other Key Picks

SQM currently carries a Zacks Rank #3 (Hold).Better-ranked stocks in the Basic Materials space are Gold Royalty Corp. GROY, Orla Mining Ltd. ORLA and i-80 Gold Corp. IAUX, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Gold Royalty is slated to release fourth-quarter results on March 19. The Zacks Consensus Estimate for GROY’s fourth-quarter is pegged at a loss of a penny per share. GROY beat the Zacks Consensus Estimate in three of the last four quarters while missing once, with the average earnings surprise being 125%. GROY has gained around 16% so far this year.Orla Mining is slated to report fourth-quarter results on March 18. The Zacks Consensus Estimate for fourth-quarter earnings is pegged at 7 cents. ORLA beat the Zacks Consensus Estimate in two of the last four quarters while missing once and meeting on the other occasion, with the average earnings surprise being 97.9%. GROY has rallied roughly 33% year to date. i-80 Gold is expected to release fourth-quarter results on March 11. IAUX's shares have rallied roughly 53% year to date.

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

Sociedad Quimica y Minera S.A. (SQM) : Free Stock Analysis Report

Orla Mining Ltd. (ORLA) : Free Stock Analysis Report

Gold Royalty Corp. (GROY) : Free Stock Analysis Report

i-80 Gold Corp. (IAUX) : Free Stock Analysis Report

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

Zacks Investment Research

Sociedad Química y Minera de Chile (NYSE:SQM) Full Year 2024 ResultsKey Financial Results

Revenue: US$4.53b (down 39% from FY 2023).
Net loss: US$404.4m (down by 120% from US$2.01b profit in FY 2023).
US$1.42 loss per share (down from US$7.05 profit in FY 2023).

NYSE:SQM Earnings and Revenue Growth March 6th 2025

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

Sociedad Química y Minera de Chile Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) missed analyst estimates by 19%.

Looking ahead, revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Chemicals industry in the US.

Performance of the American Chemicals industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

You should learn about the 2 warning signs we've spotted with Sociedad Química y Minera de Chile.

Full Year Revenue: Slightly exceeding USD 4.5 billion for 2024.
Gross Profit: Approximately USD 1.3 billion for 2024.
Net Income Impact: A one-time charge of approximately USD 1.1 billion due to a tax dispute.
Lithium Sales Volume: Nearly 205,000 metric tonnes for 2024, with a record high of over 58,000 metric tonnes in Q4.
Lithium Market Growth: Estimated at 25% in 2024 compared to 2023.
Expected Lithium Demand Growth: Approximately 17% for 2025.
Iodine Sales Volume: Record volumes in 2024, with expectations for similar or slightly lower levels in 2025.
Investment in 2024: Over USD 1.6 billion, with plans for USD 750 million in lithium capacity expansion in 2025.
Planned Investment in Calichi Operation: Close to USD 350 million in 2025.

Warning! GuruFocus has detected 8 Warning Signs with SQM.

Release Date: March 05, 2025

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

Positive Points

Sociedad Quimica Y Minera De Chile SA (NYSE:SQM) achieved record sales volumes in 2024, reaching nearly 205,000 metric tonnes of lithium.
The company reported revenues slightly exceeding USD 4.5 billion for the full year of 2024.
SQM’s iodine segment experienced strong price growth and record volumes, driven by demand recovery in X-ray contrast media applications.
The company plans to invest approximately USD 750 million in lithium capacity expansion in 2025, indicating a strong commitment to growth.
SQM maintains a strong financial position, allowing flexibility to seize new opportunities and support significant investments.

Negative Points

Net income for 2024 was impacted by a one-time charge of approximately USD 1.1 billion due to a tax dispute.
There was a decline in lithium prices quarter over quarter in 2024, although this trend softened in the fourth quarter.
Production of potash is expected to decrease by 50% in 2025 as the company focuses more on lithium production.
The company may face a funding gap for capital requirements due to current lithium prices, potentially requiring capital raising.
Iodine cash costs increased in the fourth quarter of 2024, with expectations of similar costs in 2025 due to maximum production efforts.

Q & A Highlights

Q: Your guidance indicates a 50% reduction in potash production this year. Is this due to growth in SPN and more efficient production at the Salar? Could you become a net buyer of potash in the future? A: Carlos Diaz Ortiz, General Manager Lithium Potassium Division: We have been producing less potash because our focus has shifted to lithium production. The production of potash is directly correlated with brine extraction, which has decreased as we prioritize lithium. This affects potash sales, primarily used for conversion to potassium nitrate.

Q: Given current lithium prices, will you need to raise capital to meet your capital requirements over the next few years? A: Gerardo Illanes, Chief Financial Officer: We have a strong balance sheet that supports our CapEx needs. While we are not planning to raise capital at this moment, we are monitoring the situation closely. In the past, we have adjusted our dividend policy or raised capital when necessary to maintain financial strength.

Q: Is there any possibility of spinning off the iodine business as a separate company? A: Gerardo Illanes, Chief Financial Officer: Iodine is a key component of our portfolio, and we are not planning to spin it off. We are focusing on expanding capacity and leveraging our strong market position in iodine, similar to our strategy in lithium.

Q: Can you elaborate on your optimism about lithium demand despite stable prices? A: Pablo Hernandez, Vice President, Strategy and Development: We expect lithium demand to grow by about 20% in 2025, driven by EV sales and energy storage systems. While supply is also increasing, the expected demand growth supports our optimistic outlook.

Q: Are you underproducing lithium, and can you increase production if demand improves? A: Carlos Diaz Ortiz, General Manager Lithium Potassium Division: We aim to produce as much as possible, with a target of 230,000 metric tonnes this year. We have been expanding capacity and are prepared to increase production if demand warrants it.

Q: What are the next steps for the Codelco JV, and when do you expect it to commence operations? A: Gerardo Illanes, Chief Financial Officer: We are working with Codelco and Corfo to meet the conditions for the joint venture, which we expect to be fulfilled in the second half of this year. The process involves significant coordination and takes time.

Q: Can you provide more details on your 2025 CapEx estimates and maintenance CapEx? A: Gerardo Illanes, Chief Financial Officer: For 2025, we estimate a total CapEx of $1.1 billion, with $550 million for lithium operations in Chile, $200 million abroad, and $350 million for Caliche operations. Maintenance CapEx is around $250 million to $280 million annually.

Q: Why did you achieve such high lithium volumes in the fourth quarter, and is there any stockpiling in China? A: Felipe Smith, Commercial Vice President: China accounted for 80% of our sales in 2024, reflecting strong demand. We do not see any unusual stockpiling or price speculation; the demand is genuine, and we maintain reasonable inventories to support growth.

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

This article first appeared on GuruFocus.

We recently compiled a list of the 10 Worst Farmland and Agriculture Stocks to Buy According to Short Sellers. In this article, we are going to take a look at where FMC Corporation (NYSE:FMC) stands against the other farmland and agriculture stocks.

The $5 trillion food and agriculture sector has experienced significant changes over the past six decades. Technological advances, resource allocation, and production processes drove these changes. The global agricultural output has been impacted by the Green Revolution of the 1960s as well as the advancements in modern biotechnology. According to the US Department of Agriculture (USDA), the production of the agriculture sector quadrupled between 1961 and 2020. This jump is largely due to technological advancements and increased land use. Therefore, innovations over the years have enabled the sector to meet the ever-increasing demand. However, this industry is still facing challenges. Productivity growth has stunted over the past decade, which creates concerns regarding the sector’s ability to meet the world's increasing demand.

Furthermore, the global agricultural sector has changed dramatically over the years, owing to the increasing involvement of the Global South (Africa, Asia, and Latin America) in overall production. The region contributed an astounding 73% to the global output by 2020. According to McKinsey & Company, the Global South’s contribution to overall production is expected to grow as emerging markets look to modernize their agricultural sectors. Such a change has been majorly driven by technological changes in crop science, irrigation systems, and machinery, enabling the sector to gain larger yields given the same amount of land. Moreover, easing inflation in the U.S. toward the end of 2024 resulted in reduced input costs, especially energy costs, meaning improved margins for the sector.

However, the Total Factor Productivity (TFP) – an important metric for assessing resource management efficiency in agriculture – has faced a slump in recent years. The global TFP has dropped to 0.9% in the last decade, compared to 1.6% in the early 2000s. With the global food demand expected to increase by 60% by 2050, a slowdown in productivity growth comes as a major concern. This stagnation could lead to a rise in food prices, an expansion of agricultural land, and elevated pressure on ecosystems that are already under pressure due to climate change. Around such skepticism, the Farm Products sector has experienced negative returns on a YTD and 6-month basis, while S&P reported 5.80% return on a 6-month basis.

To mitigate these concerns, the agricultural sector needs to counter the global demand with sustainability. Accordingly, McKinsey highlights the need for investment in innovative technologies like precision agriculture, artificial intelligence, and satellite-based monitoring systems. Such technologies can add to efficiency as well as a reduction in the industry's environmental footprint. For instance, farmers are now able to make informed decisions through AI-driven data analytics, leading to an improvement in yield forecasting and optimization of input usage. It is expected that investment in relevant technologies could lead to an increase of over 25% in the agricultural output over the next 10 years, according to McKinsey.

Methodology

For this article, we shortlisted a list of stocks within the agricultural inputs and farm products sectors using the Finviz screeners. We also considered our previous articles on the industry to ensure relevant inclusions in our list. Using the extensive list, we selected companies that demonstrated strong market capitalization.

Next, we looked into the number of hedge funds invested in these companies, which is considered a dependable indicator of firm performance. Moreover, we noted down the short percentage of float for all the companies, which is a testament to the negative sentiment or short interest in the stock. Finally, the shortlisted stocks were ranked in ascending order of their short percentage of float.

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).

A laboratory technician carefully mixing chemicals in a laboratory.

FMC Corporation (NYSE:FMC)

Number of Hedge Funds: 48

Short % of Float: 7.18%

FMC Corporation (NYSE:FMC), which is a global agricultural sciences company, focuses on pest management, crop protection, and plant health solutions. The company runs its operations across Europe, North America, Asia, the Middle East, Latin America, and Africa.

FMC Corporation (NYSE:FMC) reported revenue of $1.22 billion, a 7% year-over-year increase, for Q4 ended December 31, 2024. This growth was attributed to the volume gains in its growth portfolio, which consists of innovative crop protection products and technologies. However, there was a 3% drop in average selling prices due to pricing pressure. The company, excluding divestitures, has forecasted revenue of $4.15 billion and $4.35 billion for 2025, while it reported revenue of $4.25 billion for 2024.

Cost reductions have been a core area of focus for FMC Corporation (NYSE:FMC), especially in regard to manufacturing efficiencies for Rynaxypyr and Cyazypyr. For 2024, FMC reported $265 million in cost savings, exceeding restructuring targets and estimating over $250 million by the end of 2025. Backed up by cost controls and volume growth, EBITDA for the last quarter of 2024 grew to $339 million, a 33% YoY rise. Furthermore, FMC announced its quarterly dividend of $0.58 per share as a part of its financial strategy, which would be payable on April 17, 2025. This reflects its commitment to shareholder returns while also funding long-term expansion.

In areas where distribution dynamics are evolving, particularly Asia and Latin America, FMC Corporation (NYSE:FMC) is optimizing inventory in key regions. To secure new market opportunities in biologicals and sustainable crop protection, the company is growing its sales organization. To maintain market leadership, the company is pivoting its focus towards new formulations, given that patent expirations are approaching for Rynaxypyr.

By positioning itself for sustained profitability and solidity in a shifting agricultural landscape, FMC Corporation (NYSE:FMC) plans to stay focused on long-term growth through invention and efficiency improvements.

Nevertheless, challenges such as growing competition from generics and foreign exchange headwinds are expected to impact earnings. Accordingly, short sellers remain heavy on the stock, which is why FMC is among the worst farmland and agriculture stocks to buy.

Overall FMC ranks 3rd on our list of the worst farmland and agriculture stocks to buy according to short sellers. While we acknowledge the potential of FMC as an investment, our conviction lies in the belief that certain AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than FMC but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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

It has been about a month since the last earnings report for FMC (FMC). Shares have added about 9.8% in that time frame, outperforming the S&P 500.

Will the recent positive trend continue leading up to its next earnings release, or is FMC due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.

FMC Corp's Earnings Surpass Estimates, Revenues Miss in Q4

FMC reported a loss of 13 cents for fourth-quarter 2024. This is in contrast with earnings of $8.77 reported in the year-ago quarter.Barring one-time items, adjusted earnings per share were $1.79, beating the Zacks Consensus Estimate of $1.61.Revenues were roughly $1.22 billion in the quarter, up around 6.8% from the year-ago quarter’s level. The top line fell short of the Zacks Consensus Estimate of $1.32 billion.FMC's fourth-quarter revenues were driven by a 15% increase in volume, with growth reported in several countries, especially the United States.

Regional Sales Performance

In North America, sales increased 23% year over year to $340 million in the quarter, driven by higher volume. The figure missed the Zacks Consensus Estimate of $347.5 million.Latin America sales saw a 10% year-over-year decline to $390 million in the reported quarter, as higher volumes were partly offset by a low-single-digit price decline. The figure missed the Zacks Consensus Estimate of $516.9 million.In Asia, revenues rose 10% year over year, totaling $307 million due to higher volumes. The figure beat the Zacks Consensus Estimate of $273.7 million.EMEA experienced an 18% year-over-year sales upside, reaching $188 million in the reported quarter. Higher volumes in EMEA resulted in sales growth, excluding currency impacts. The Plant Health business improved over the previous year. The figure beat the Zacks Consensus Estimate of $183 million.

FY24 Results

For the full year, FMC reported revenues amounting to roughly $4.25 billion, marking a 5.4% decrease from the previous year. On a reported basis, the company posted full-year net income of $341.1 million, reflecting a 74.1% decrease. Consolidated earnings per share were $2.72, down 74.2% year over year.

Financials

The company had cash and cash equivalents of $357.3 million at the end of the quarter, up roughly 18.1% year over year. Long-term debt was around $3.03 billion, up around 0.1% year over year.

Guidance

Revenues for the first quarter are projected to be in the $750 million to $800 million range, a 16% decrease at the midpoint from the same period in 2024. Volume is likely to fall as customers in various countries continue to cut inventories, and retailers and growers make cautious purchases in an environment of low commodity prices. Adjusted EBITDA is estimated to be in the $105 million to $125 million range, a 28% decrease at the midpoint compared to the prior-year quarter, as lower expenses somewhat offset lower price and currency headwinds. Adjusted EPS is estimated to be in the range of 5 cents to 15 cents, representing a 72% fall at the midpoint against the first quarter of 2024 due to the reduction in adjusted EBITDA.Revenues for full-year 2025 are expected to be in the $4.15 billion to $4.35 billion range, roughly steady at the midpoint and up 3% after accounting for about $110 million in lost revenues from the GSS business divestiture. Full-year adjusted EBITDA is estimated to be between $870 million and $950 million, up 1% from the previous year at the midpoint and 4% after accounting for roughly $25 million in lost EBITDA from the GSS sale. The adjusted EPS for 2025 is estimated to be $3.26 to $3.70 per share, which is consistent with the previous year at the midpoint. Full-year free cash flow is projected to be $200 million to $400 million, a $314 million decrease from 2024 at the midpoint, as the free cash flow conversion normalizes following the outsized recovery in 2024.

How Have Estimates Been Moving Since Then?

In the past month, investors have witnessed a downward trend in estimates review.

The consensus estimate has shifted -96.2% due to these changes.

VGM Scores

Currently, FMC has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with an F. However, the stock was allocated a grade of B on the value side, putting it in the top 40% for this investment strategy.

Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook

Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. It's no surprise FMC has a Zacks Rank #5 (Strong Sell). We expect a below average return from the stock in the next few months.

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

FMC Corporation (FMC) : Free Stock Analysis Report

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

Zacks Investment Research

VANCOUVER, BC, March 5, 2025 /CNW/ – (TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") is pleased to announce today that it has entered into exclusivity to negotiate an earn-in agreement (the "Option Agreement") with Talon Metals Corp. ("Talon") for the right to acquire up to a 70% ownership interest in the Boulderdash exploration properties ("Boulderdash") which are adjacent to the Company's Eagle Mine. Concurrently with the execution of the exclusivity agreement, Lunding Mining has advanced Talon US$5 million to, among other things, commence drilling at Boulderdash. If the parties do not execute the Option Agreement, Talon will either repay such advance or issue shares to the Company with an aggregate subscription price equal to such advance based on the 5-day volume weighted average price of Talon shares on the TSX at the time of issuance. View PDF

It is anticipated that pursuant to the terms of the Option Agreement, Lundin Mining will agree to fund up to 30,000 metres (m) of Talon's drilling campaign at Boulderdash in exchange for a 44.625% interest in Boulderdash. Such drill campaign will be completed in 10,000 m tranches at the election of Lundin Mining. Following the completion of 30,000 m of drilling, the Company may fund a feasibility study in respect of the Boulderdash property in exchange for an additional 25.375% interest in Boulderdash, for a total ownership of 70%, as well as the potential for a 90% interest in certain properties adjacent to Boulderdash.

Boulderdash Properties

The Boulderdash target is located approximately 12 kilometres northwest of Lundin Mining's Eagle Mine in Michigan, the only operating nickel mine in the U.S. The maiden drill hole at Boulderdash announced last year on October 24, 2024 (see Talon release "Talon Metals Makes New Copper-Nickel Discovery in Michigan") intercepted 99.92 m grading 0.41% nickel and 0.35% copper starting at 9.14 m depth, more recent drilling has intercepted 2.35 m of nickel-copper massive sulphide mineralization assaying 2.33% nickel and 2.95% copper (press release dated February 27, 2025 "Talon Metals Reports More Drilling Success and Assays From its Michigan Boulderdash Discovery"). As part of the option agreement Lundin Mining will fund an initial 10,000 m drill program to follow up on recent drill results.

About Lundin Mining

Lundin Mining is a diversified Canadian base metals mining company with operations or projects in Argentina, Brazil, Chile, and the United States of America, primarily producing copper, gold and nickel. In December 2024 the Company announced the sale of its European assets to Boliden. The transaction is expected to close in mid-2025 subject to customary conditions and regulatory approvals.

The information in this release is subject to the disclosure requirements of Lundin Mining under the Swedish Financial Instruments Trading Act. The information was submitted for publication, through the agency of the contact persons set out below on March 5, 2025 at 14:30 Pacific Time.

Technical Information

The scientific and technical information in this press release has been prepared in accordance with the disclosure standards of National Instrument 43-101 ("NI 43-101") and has been reviewed by Cole Moody, PGeo., Director, Resource Geology, a "Qualified Person" under NI 43-101. Mr. Moody has verified the data disclosed in this release and no limitations were imposed on his verification process.

Cautionary Statement on Forward-Looking Information

Certain of the statements made and information contained herein are "forward-looking information" within the meaning of applicable Canadian securities laws. All statements other than statements of historical facts included in this document constitute forward-looking information, including but not limited to statements regarding: the Company's plans, prospects and business strategy; the earn-in arrangement in respect of the Boulderdash property, including the entering into of an Option Agreement in respect thereof and the terms of such Option Agreement; future actions taken by Talon and Lundin Mining in relation to the Boulderdash property and the outcomes and anticipated benefits thereof; and expectations for other economic, business, and/or competitive factors. Words such as "believe", "expect", "anticipate", "contemplate", "target", "plan", "goal", "aim", "intend", "continue", "budget", "estimate", "may", "will", "can", "could", "should", "schedule" and similar expressions are often, but not always, used identify forward-looking information.

Forward-looking information is necessarily based upon various estimates and assumptions including, without limitation, the expectations and beliefs of management, including that the Company and Talon can successfully negotiate and enter into an Option Agreement, as well as the terms of such Option Agreement and the anticipated benefits of such arrangement; that the results of exploration activities at Boulderdash will be consistent with management expectations in relation thereto; the ability of Talon and Lundin to identify opportunities at Boulderdash and achieve related goals; assumed and future price of copper, zinc, nickel, gold and other metals; anticipated costs; that the political environment in which the Company operates will continue to support the development and operation of mining projects, including at Boulderdash; and assumptions related to the factors set forth below. While these factors and assumptions are considered reasonable by Lundin Mining as at the date of this document in light of management's experience and perception of current conditions and expected developments, these statements are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking information and undue reliance should not be placed on such information. Such factors include, but are not limited to: the failure of the Company and Lundin to successfully negotiate the terms of an Option Agreement in a timely manner, or at all; the failure of the Company to realize the anticipated benefits of an Option Agreement; global financial conditions, market volatility and inflation, including pricing and availability of key supplies and services; risks inherent in mining including but not limited to risks to the environment, industrial accidents, catastrophic equipment failures, unusual or unexpected geological formations or unstable ground conditions, and natural phenomena such as earthquakes, flooding or unusually severe weather; uninsurable risks; volatility and fluctuations in metal and commodity demand and prices; reputation risks related to negative publicity with respect to the Company, Talon or the mining industry in general; delays or the inability to obtain, retain or comply with permits; risks relating to the development of the Boulderdash property and the Company's projects; health and safety laws and regulations; risks associated with climate change; risks relating to indebtedness; economic, political and social instability and mining regime changes, including but not limited to those related to permitting and approvals, nationalization or expropriation without fair compensation, environmental and tailings management, labour, trade relations, and transportation; an inability to attract and retain highly skilled employees; project financing risks; liquidity risks and limited financial resources; health and safety risks; compliance with environmental and other laws and regulations; unavailable or inaccessible infrastructure; infrastructure failures, and risks related to ageing infrastructure; changing taxation or tariff regimes; an inability of the Company to effectively compete in the industry; risks associated with any earn-in right in respect of the Boulderdash property, including with respect to ability to achieve anticipated benefits thereof and unanticipated difficulties or expenditures relating to the exploration and development of the Boulderdash property; risks related to mine closure activities, reclamation obligations, environmental liabilities and closed and historical sites; reliance on key personnel and reporting and oversight systems, as well as third parties and consultants; information technology and cybersecurity risks; risks associated with the estimation of Mineral Resources and Mineral Reserves and the geology, grade and continuity of mineral deposits including but not limited to models relating thereto; actual ore mined and/or metal recoveries varying from Mineral Resource and Mineral Reserve estimates, estimates of grade, tonnage, dilution, mine plans and metallurgical and other characteristics; ore processing efficiency; community and stakeholder opposition; regulatory investigations, enforcement, sanctions and/or related or other litigation; financial projections, including estimates of future expenditures and cash costs, and estimates of future production may not be reliable; risks associated with the use of derivatives; environmental and regulatory risks associated with the structural stability of waste rock dumps or tailings storage facilities; exchange rate fluctuations; compliance with laws; potential for the allegation of fraud and corruption involving the Company, its customers, suppliers or employees, or the allegation of improper or discriminatory employment practices, or human rights violations; risks relating to dilution; risks relating to payment of dividends; counterparty and customer concentration risks; activist shareholders and proxy solicitation matters; estimation of asset carrying values; existence of significant shareholders; challenges or defects in title; internal controls; risks relating to minor elements contained in concentrate products; the threat associated with outbreaks of viruses and infectious diseases; mining rates and rehabilitation projects; mill shut downs; and other risks and uncertainties, including but not limited to those described in the "Risks and Uncertainties" section of the Company's Annual Information Form for the year ended December 31, 2024, which is available on SEDAR+ at www.sedarplus.com under the Company's profile.

All of the forward-looking information in this document are qualified by these cautionary statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, forecasted or intended and readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Accordingly, there can be no assurance that forward-looking information will prove to be accurate and forward-looking information is not a guarantee of future performance. Readers are advised not to place undue reliance on forward-looking information. The forward-looking information contained herein speaks only as of the date of this document. The Company disclaims any intention or obligation to update or revise forward‐looking information or to explain any material difference between such and subsequent actual events, except as required by applicable law.

Lundin Mining to Option Ni-Cu-PGM Exploration Properties from Talon Metals Corp. (CNW Group/Lundin Mining Corporation)

SOURCE Lundin Mining Corporation

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View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2025/05/c3345.html

Written by Amy Legate-Wolfe at The Motley Fool Canada

Investing $20,000 in two TSX mid-cap stocks can feel a bit overwhelming. But when it comes to TSX stocks like Northland Power (TSX:NPI) and Lundin Mining (TSX:LUN), it can be a savvy strategy to generate passive income. Let’s explore how these companies have been performing and what the future might hold for investors.

Northland Power

Northland Power, a prominent player in the renewable energy sector, has been making waves with its recent financial performance. In the fourth quarter (Q$) of 2024, the TSX stock reported revenue from energy sales of $572 million — a slight decrease from $626 million in the same period the previous year. However, on a full-year basis, revenue increased to $2,346 million from $2,233 million in 2023. Net income also saw a positive shift, rising to $150 million in Q4 2024 from a net loss of $268 million in Q4 2023.

Looking ahead, Northland Power has issued its 2025 financial guidance. It expects adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) to be in the range of $1.3 to $1.4 billion. This optimistic outlook is bolstered by ongoing projects in Poland, Taiwan, and Canada, which are anticipated to start contributing to earnings in 2025, with full realization by 2027.

For dividend enthusiasts, Northland Power offers a forward annual dividend rate of $1.20 per share, translating to a yield of approximately 6.18% at writing. This robust dividend yield is higher than the average of the bottom 25% of dividend payers in the Canadian market, making it an attractive option for income-focused investors.

Lundin Mining

Lundin Mining, a diversified base metals mining company, has also shown noteworthy performance. In Q4 2024, the TSX stock achieved revenue of $1.024 billion, with net earnings attributable to shareholders amounting to $101.2 million. This reflects a significant turnaround from a net loss in the same quarter of the previous year.

The TSX stock’s full-year results for 2024 are equally impressive, with revenue reaching $4.117 billion and record copper production of 369,067 tonnes. These figures underscore Lundin Mining’s operational efficiency and strong market position.

For investors eyeing dividends, Lundin Mining offers a forward annual dividend rate of $0.36 per share, yielding approximately 3.11%. While this yield is modest compared to Northland Power, it still provides a steady income stream for shareholders.

Earning income

By allocating $10,000 to Northland Power and $10,000 to Lundin Mining, investors can diversify their portfolios across the renewable energy and mining sectors. Based on the current dividend yields, this investment could generate significant income, as you can see below.

COMPANY	RECENT PRICE	NUMBER OF SHARES	DIVIDEND	TOTAL PAYOUT	FREQUENCY	TOTAL INVESTMENT
NPI	$19.10	524	$1.20	$628.80	monthly	$10,000
LUN	$11.35	881	$0.36	$317.16	quarterly	$10,000

You would be earning $945.96 annually! Of course, it’s essential to consider that dividend yields are subject to change based on company performance and market conditions. However, both Northland Power and Lundin Mining have demonstrated resilience and growth potential, making them viable options for investors seeking passive income.

Foolish takeaway

Northland Power’s strategic projects in renewable energy are expected to enhance its earnings in the coming years. The TSX stock’s focus on sustainable energy solutions aligns with global trends toward cleaner energy sources, potentially leading to increased profitability and, consequently, higher dividends.

Similarly, Lundin Mining’s robust production figures and financial health position it well for future growth. As demand for base metals continues to rise, the company is poised to capitalize on market opportunities. This could translate into enhanced shareholder value.

Investing in Northland Power and Lundin Mining offers a balanced approach to generating passive income through dividends. Both TSX stocks showcased strong financial performances and have promising outlooks, making these worthy considerations for investors aiming to build a resilient and income-generating portfolio.

The post Invest $20,000 in 2 TSX Stocks for $945.96 in Passive Income appeared first on The Motley Fool Canada.

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Most Read from Bloomberg Businessweek

Teck Resources (TECK) is ready to find buyers in Asia for its zinc and other metals after US Preside

We recently published a list of 7 Best Metal Stocks to Buy According to Analysts. In this article, we are going to take a look at where Teck Resources Limited (NYSE:TECK) stands against other best metal stocks to buy according to analysts.

The metals industry, which supplies vital materials for manufacturing, renewable energy, and construction, is a major contributor to the expansion of the world economy. This market has grown remarkably in the last several years. The Business Research Company projects that the worldwide metals market will increase by 5.9%, from $4,392.33 billion in 2024 to $4,651.03 billion in 2025. Growing demand for industrial and precious metals, particularly in the construction, automotive, and renewable energy industries, is driving this growth.

Since copper is still one of the most sought-after metals, the growing demand for the metal is a major factor in this development. The copper market is projected to increase by 7.8% during the period 2024-2025, reaching $190.72 billion, according to The Business Research Company. This increase is mostly attributable to the growth of infrastructure worldwide and the extensive use of copper in electrification projects.

At the same time, there is a high demand for metals like copper, aluminum, and steel, especially from the expanding construction sector. According to the U.S. Census Bureau, the value of monthly construction activities in the United States increased by 4.3% on a YoY basis in December 2024. Thus, the global acceleration of infrastructure projects is anticipated to support the metals market for the foreseeable future due to this increasing demand.

Along with industrial metals, precious metals have done noticeably better than the overall market, driven by investor demand for safe-haven assets and inflationary fears. For example, gold ETFs had their greatest gain since 2010 in 2024, rising a whopping 26%. It is anticipated that this trend will continue into 2025 if inflationary pressures continue to drive demand for gold as a protective investment. Similarly, as of February 26, 2025, silver futures experienced a 40.34% year-over-year rise while gold futures produced an impressive 43.64% return, as reported by S&P Global. These figures highlight the rising demand for gold and silver as investments against an unstable economic landscape.

Simultaneously, the metals sector is undergoing a surge in sustainability efforts and technological breakthroughs. Metal production is being revolutionized by innovations such as generative AI in additive manufacturing, which is making it more sustainable and efficient. On the other hand, the global market for recycled scrap metal is expected to rise at a robust 6.4% annual growth rate from $70.5 billion in 2024 to $75.5 billion in 2025. By 2035, the recycling industry is predicted to account for 72.5% of the market value as environmental restrictions and sustainability drive companies to use recycled metals, especially ferrous metals.

Beyond technological innovations, metals like lithium, copper, and zinc are at the center of industry transformation as a result of the move toward cleaner energy and electrification. Lithium is becoming more affordable and widely available because of new extraction techniques, which are enhancing its use in energy storage applications. For instance, the lithium market is expected to expand by 16.3%, from $7.75 billion in 2024 to $9.01 billion in 2025. Meanwhile, as reported by Zinc.org, the demand for zinc in solar power is predicted to reach 568,000 tons by 2030, demonstrating the rising significance of zinc in renewable energy.

Therefore, the overall metal market is experiencing strong demand, technological breakthroughs, and increased focus on sustainability and clean energy initiatives. Therefore, experts are enticed to pick the best metal stocks with the potential for rapid growth to capitalize on bright future prospects of the market.

Our Methodology

To curate our list of the 7 Best Metal Stocks to Buy According to Analysts, we picked the top companies having a substantial exposure to extraction, processing, and manufacturing of metals. Furthermore, we made sure that we pick companies with strong market capitalization. Finally, we ranked the stocks based on the upside potential predicted by a healthy number of analysts, as of writing this article.

Is Teck Resources Limited (TECK) the Best Metal Stock to Buy According to Analysts?

A close up of an automated machine processing other Industrial Metals & Mining resources.

Teck Resources Limited (NYSE:TECK)

Average Upside Potential: 21.43%

Number of Hedge Fund Holders: 66

Teck Resources Limited (NYSE:TECK), an industry leader in diversified mining, operates in Chile, Peru, and Canada. Although coal, copper, and zinc are among its primary products, the company is undergoing a major transition. In an effort to slowly lessen its need for coal used in steel production and satisfy the rising demand brought on by the global energy transition, Teck is shifting its focus to copper.

This shift in strategy is already beginning to provide encouraging outcomes. Teck Resources Limited (NYSE:TECK) reported a 40% increase in its sales during the year ended December 31, 2024. A 50% increase in copper output, which reached 446,000 tons, drove this growth. Additionally, stable operations at the Red Dog mine also contributed to a strong increase in zinc output, sales of which rose 24% during Q4 on a YoY basis. The company’s Adjusted EBITDA increased by 104.3% to $2 billion due to strong base metal prices, and its balance sheet was further strengthened by operational cash flow of $1.9 billion.

Furthermore, Teck Resources Limited (NYSE:TECK) is speeding its transition to a pure-play copper producer to capitalize on this momentum. The company was able to concentrate more on its copper portfolio after recently finishing the spin-off of Elk Valley Resources. Additionally, it has planned $1.0-1.2 billion in capital expenditures for 2025, for the early stages of the San Nicolás copper-zinc project in Mexico and the expansion of its QB2 project in order to facilitate this shift. Keeping up with its capital allocation strategy, Teck also paid $1.25 billion through share repurchases and dividends.

Looking ahead, the company is still dedicated to its expansion goals. It plans to invest in its resource growth and exploration in 2025, with an emphasis on increasing the output of zinc and copper. Teck Resources Limited (NYSE:TECK) is in a good position to keep generating wealth for shareholders in the years to come because of its solid asset base and obvious shift towards base metals, which are in high demand.

Overall, TECK ranks 6th on our list of best metal stocks to buy according to analysts. While we acknowledge the potential of TECK, our conviction lies in the belief that certain AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than TECK but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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

We recently published a list of 7 Best Metal Stocks to Buy According to Analysts. In this article, we are going to take a look at where Freeport-McMoRan Inc. (NYSE:FCX) stands against other best metal stocks to buy according to analysts.

Our Methodology

Is Freeport-McMoRan Inc. (FCX) the Best Metal Stock to Buy According to Analysts?

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

Freeport-McMoRan Inc. (NYSE:FCX)

Average Upside Potential: 28.56%

Number of Hedge Fund Holders: 88

Freeport-McMoRan Inc. (NYSE:FCX) is a prominent producer of copper, gold, and molybdenum, with a significant presence in both North and South America, as well as Indonesia. Being a significant participant in the copper market, the company stands to gain from growing demand, which is mostly being driven by infrastructure and green energy projects.

Freeport-McMoRan Inc. (NYSE:FCX) recorded outstanding earnings for the Q4 ended December 31, 2024. With copper prices averaging $4.21 per pound, EBITDA increased 14% year over year to $10 billion. Increased production levels and higher realized prices resulted in a 35% increase in the company’s operational cash flows, which reached $7 billion. By redeeming $730 million in senior notes and maintaining net debt at about $1 billion, this expansion allowed the company to further solidify its financial position. Accordingly, $4.7 billion was paid through dividends and share repurchases.

Furthermore, Freeport-McMoRan Inc. (NYSE:FCX) is expanding its copper leach operations in parallel with its strategic development, which helped it achieve a noteworthy 50% increase in additional copper output in 2024. The company’s goal is to further optimize its manufacturing capacity by achieving a run rate of 300 million pounds by the end of 2025.

Freeport-McMoRan Inc. (NYSE:FCX) is prioritizing cost effectiveness by implementing innovative technology, such as autonomous haulage at its Bagdad mine, which is expected to be in service in 2025. However, there have been certain challenges in its operations in Indonesia, including a 7.5% export tax and delays in export permits. Looking ahead, copper, which could soon be regarded as a “critical mineral,” might be eligible for a 10% tax credit, which could lead to benefits of up to $500 million.

Thus, Freeport-McMoRan Inc. (NYSE:FCX) is one of the best metal stocks to watch because of its ongoing investments in efficiency, automation, and organic growth.

Overall, FCX ranks 3rd on our list of best metal stocks to buy according to analysts. While we acknowledge the potential of FCX, our conviction lies in the belief that certain AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. 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 the cheapest AI stock.

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

Readers hoping to buy BHP Group Limited (ASX:BHP) for its dividend will need to make their move shortly, as the stock is about to trade ex-dividend. The ex-dividend date generally occurs two days before the record date, which is the day on which shareholders need to be on the company's books in order to receive a dividend. The ex-dividend date is of consequence because whenever a stock is bought or sold, the trade can take two business days or more to settle. Accordingly, BHP Group investors that purchase the stock on or after the 6th of March will not receive the dividend, which will be paid on the 27th of March.

The company's next dividend payment will be US$0.50 per share, and in the last 12 months, the company paid a total of US$1.00 per share. Looking at the last 12 months of distributions, BHP Group has a trailing yield of approximately 4.1% on its current stock price of AU$39.60. Dividends are an important source of income to many shareholders, but the health of the business is crucial to maintaining those dividends. As a result, readers should always check whether BHP Group has been able to grow its dividends, or if the dividend might be cut.

Check out our latest analysis for BHP Group

If a company pays out more in dividends than it earned, then the dividend might become unsustainable – hardly an ideal situation. BHP Group paid out 55% of its earnings to investors last year, a normal payout level for most businesses. Yet cash flow is typically more important than profit for assessing dividend sustainability, so we should always check if the company generated enough cash to afford its dividend. Over the last year it paid out 72% of its free cash flow as dividends, within the usual range for most companies.

It's positive to see that BHP Group's dividend is covered by both profits and cash flow, since this is generally a sign that the dividend is sustainable, and a lower payout ratio usually suggests a greater margin of safety before the dividend gets cut.

Click here to see the company's payout ratio, plus analyst estimates of its future dividends.

ASX:BHP Historic Dividend March 3rd 2025Have Earnings And Dividends Been Growing?

Stocks in companies that generate sustainable earnings growth often make the best dividend prospects, as it is easier to lift the dividend when earnings are rising. If business enters a downturn and the dividend is cut, the company could see its value fall precipitously. With that in mind, we're encouraged by the steady growth at BHP Group, with earnings per share up 6.1% on average over the last five years. While earnings have been growing at a credible rate, the company is paying out a majority of its earnings to shareholders. If management lifts the payout ratio further, we'd take this as a tacit signal that the company's growth prospects are slowing.

Another key way to measure a company's dividend prospects is by measuring its historical rate of dividend growth. BHP Group has seen its dividend decline 1.5% per annum on average over the past 10 years, which is not great to see.

The Bottom Line

Should investors buy BHP Group for the upcoming dividend? Earnings per share have been growing modestly and BHP Group paid out a bit over half of its earnings and free cash flow last year. All things considered, we are not particularly enthused about BHP Group from a dividend perspective.

If you want to look further into BHP Group, it's worth knowing the risks this business faces. To help with this, we've discovered 2 warning signs for BHP Group (1 doesn't sit too well with us!) that you ought to be aware of before buying the shares.

Generally, we wouldn't recommend just buying the first dividend stock you see. Here's a curated list of interesting stocks that are strong dividend payers.

Brisbane, Queensland, Australia–(Newsfile Corp. – March 3, 2025) – Graphene Manufacturing Group Ltd. (TSXV: GMG) (OTCQX: GMGMF) ("GMG" or the "Company") is pleased to provide the latest progress update on the Graphene Aluminium-Ion Battery technology ("G+AI Battery") being developed by GMG and the University of Queensland ("UQ") under a Joint Development Agreement with Rio Tinto, one of the world's largest metals and mining groups.

Notably, this update includes information about GMG's G+AI Battery regarding:

Scaling with the Battery Innovation Center of Indiana, United States.
Electrochemistry Optimisation
1000 mAh Battery Cell Capacity Reached (Previously)
Battery Technology Readiness Level
Next Steps Toward Commercialisation and Market Applications
Next Generation Battery Performance
Important Milestones for GMG's Graphene Aluminium-Ion Battery Development

Scaling with the Battery Innovation Center of Indiana, United States.

GMG is pleased to announce that it has signed a service contract with the Battery Innovation Center of Indiana ("BIC") in the United States of America to support the next phase of development of the Graphene Aluminium-Ion Battery.

Image 1To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/243059_e0db247a7453eaf3_001full.jpg

BIC is a collaborative initiative designed to incorporate leadership from renowned universities, government agencies, and commercial enterprises. BIC is a public-private partnership and a not-for-profit organization focusing on the rapid development, testing and commercialization of safe, reliable and lightweight energy storage systems for defense and commercial customers. BIC is a unique organization that has been leading battery cell development for world leading battery companies for over 10 years and has carried out over 500 battery development projects.

Image 2: BIC building in Indiana, USATo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/243059_e0db247a7453eaf3_002full.jpg

BIC's mission is to accelerate innovation in the field of battery technology by providing access to the entire spectrum of R&D to commercialization, including low volume production, in a single 40,000 square foot facility, located in Newberry, an hour south of Bloomington, Indiana. Under one roof and with virtual connections to the research and manufacturing facilities of its partners, BIC has capabilities in all aspects of the battery life cycle.

Image 3: One of the BIC dry rooms including electrode coating equipment

To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/243059_e0db247a7453eaf3_003full.jpg

By collaborating with BIC, GMG can take advantage of BIC's technological capabilities and manufacturing facilities and avoid the capital cost of building a pilot plant, that can cost more than AU$10 million dollars, to produce sample cells in advance of mass production. Under its service agreement with BIC, GMG will pay for services rendered and retain all intellectual property of the development work. The service agreement with BIC will enable GMG to optimize BIC's cell design and battery manufacturing equipment during its scale up of battery production, thereby delaying capital expenditures for manufacturing capacity until battery development is further derisked.

GMG is very pleased to work with BIC on this next phase in the development of GMG's next generation battery.

Electrochemistry Optimisation

The Company is currently optimising the G+AI Battery pouch cell electrochemistry – which is a standard battery development process step (please see Battery Technology Readiness Level section below).

The Company has developed significant knowledge regarding the electrochemistry of the pouch cells since achieving the targeted 1 Ah cell capacity in February 2024.

The challenges faced by the G+AI Battery during this phase of its maturation are very similar to other battery chemistries that have been developed into mass production – including Lithium-Ion batteries.

The performance of the pouch cells will be communicated upon successfully producing a repeatable and 3rd party tested 1000 mAh+ battery pouch cell.

The Company is confident it can meet its overall timeline on the battery cell roadmap as seen in Figure 1 and as previously communicated.

Figure 1: Battery Cell Roadmap

To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/243059_e0db247a7453eaf3_004full.jpg

There are five steps in this optimisation process which the Company completes once per week in what it calls a "Sprint" as seen in Figure 2.

Figure 2: Optimisation Weekly Sprint Process

To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/243059_gmg_figure2.jpg

Make CellThe major components of the G+AI Battery are seen below in Figure 3:Cathode: Graphene, binder and solvent (water or another solution) layered on a metal foil cathode substrate.Anode: Aluminium foilElectrolyte: Aluminium Chloride and ionic fluid (Urea or another solution)Separator: Separator

Figure 3: Graphene Aluminium Ion Battery Components

To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/243059_e0db247a7453eaf3_006full.jpg

These are assembled in a standard step by step process – which is documented in the Company's operation manual of procedures for the Battery Development Process.

There are many different variations that can be trialled in a cell design which can include, but are not limited to, the following as seen in Figure 4:

Anode foil types and thicknesses
Improving cycle life
Cell assembly processes
Processing of the graphene for the Cathode Slurry
Coating of the Cathode Slurry
Variations in the Electrolyte
Charging and Discharging algorithms
Optimise nominal voltage and capacity
Types of Separators (different materials, suppliers and thicknesses)
Optimising of the weight of the materials

Figure 4: Cell Optimisation Variables

To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/243059_gmg_figure4_550.jpg

Typically, 5 of each battery design is made which ensures a statistical depth to the testing.

A total of 250 individual scientific experiments in pouch cells and near 1000 individual pouch cells were made from 2023 till the present date. The basic modelling of the battery is complete and the Company is now working on dynamic modelling of the battery to support multi variant optimization analysis.

Test Cell PerformanceOnce the Cell Performance is measured (on the charging/discharging stacks) there are certain performance parameters that are observed which include, but are not limited to, the following:- Capacity (mAh)- Nominal Voltage (Volts)- Number of Charging and Discharging Cycles (number)- Physical expansion or contraction of the cell- Physical changes to the cell

This data is then recorded and linked to the cell design and assembly process used to make the cell.

Compare Cell PerformanceThe objective of this step is to understand what design and cell assembly parameters, in an isolated test, have a repeatable causal change in cell performance.

Each Sprint usually focuses on a single variable in design or cell assembly – an example of a 3-week Sprint program is seen in Figure 5.

Figure 5: Sprint Program Example

To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/243059_gmg_figure5.jpg

Review Optimisation OptionsUpon reviewing optimisation options for the next Sprint, there are many parameters to consider. Often one design parameter of the cell or assembly process will positively improve one cell performance outcome but have a negative impact on another. As the Company optimises various performance outcomes of the battery cell – some of which are shown in Figure 6 – the Company needs to consider the various potential trade-offs on other performance outcomes.

Figure 6: Battery Optimisation Process

To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/243059_gmg_figure6.jpg

Propose Next Cell Design (repeat Step 1 again)Once the Company has selected the design of the Cell parameters, it needs to test for optimisation. This involves repeating step 1 until a final design or variable is chosen.

1000 mAh Battery Cell Capacity Reached

The Company previously announced on the 6th of February 2024 it produced multiple battery pouch cells with over 1000 mAh (1 Ah) capacity, as seen in Figure 7. This was a major milestone achieved to demonstrate scalability from coin cells to pouch cells, and represented the next milestone in the battery's development, following the announcement of 500 mAh capacity in September 2023.

Figure 7: Typical G+AI Pouch Cell Prototype

To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/243059_e0db247a7453eaf3_015full.jpg

Following the successful cells made at the BIC and successful customer trials, GMG expects to pursue large scale commercial production, as seen in Figure 8.

Figure 8: Pouch Cell Scale Up Process

To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/243059_e0db247a7453eaf3_016full.jpg

Battery Technology Readiness Level

The battery technology readiness level ("BTRL") of the Graphene Aluminium-Ion technology remains at Level 4 (see Figure 9). GMG is currently optimizing electrochemical behaviour for pouch cells via ongoing laboratory experimentation. Through collaboration with the BIC it is anticipated that the battery technology readiness will progress to BTRL 7 and 8 since the equipment and process needed to make the Graphene Aluminium-Ion batteries is the same as those employed to make Lithium-Ion Batteries.

Figure 9: Battery Technology Readiness LevelSource: "The Battery Component Readiness Level (BC-RL) Framework: A technology-specific development framework", Matthew Greenwood et al

To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/243059_e0db247a7453eaf3_017full.jpg

Next Steps Toward Commercialisation & Market Applications

The Company continues to see a broad range of applications for a completed GMG Graphene Aluminium-Ion Battery – utilising its ultra-high power-density and nominal energy density characteristics. Along with Rio Tinto, a range of global companies have confidentially expressed their interest in working with GMG in the following vertical sectors:

Figure 10

To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/243059_e0db247a7453eaf3_018full.jpg

Next Generation Battery Performance

GMG's next generation Graphene Aluminium-Ion Battery performance data (as tested and calculated on coin cells), as compared to the most commonly available lithium-ion batteries, is shown below in Figure 11, with a list of its beneficial characteristics.

The performance of the pouch cells will be communicated upon successfully producing a repeatable and fully 3rd party tested 1000 mAh+ battery pouch cell.

Pouch cell performance data could be significantly different and will be published once 1000 mAh+ capacity pouch cells are developed and tested.

Source:*University of Queensland validated GMG testing data based on industry standard estimate methodology from coin cells using a reducing factor of 2.3.#CATL 3.7V 65Ah NCM Lithium Battery Cell – LiFePO4 Battery (lifepo4-battery.com) on 29/09/22 7$ CATL 3.2V 150Ah LiFePO4 Battery Cell – LiFePO4 Battery (lifepo4-battery.com) on 29/09/22

Figure 11: Graphene Aluminium-Ion Battery Comparative Performance Data (for coin cells)

To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/243059_gmg_figure11.jpg

Important Milestones for the Battery's Development:

Important milestones for GMG's Graphene Aluminium-Ion Battery Development:

Month	Important Milestones in the Development of the Graphene Aluminium Ion Battery
May 2020	GMG and UQ win Australian Research Council grant for Graphene battery developmenthttps://graphenemg.com/gmg-and-uq-wins-australian-research-council-grant-for-graphene-aluminium-ion-battery-development/
Apr 2021	The University of Queensland and GMG kick off coin cell battery development projecthttps://graphenemg.com/gmg-the-university-of-queensland-research-uni-quest-kick-off-the-graphene-enhanced-aluminium-ion-battery-development-project/
May 2021	Graphene aluminium-ion battery performance data – Energy Density and Power Densityhttps://graphenemg.com/gmg-graphene-aluminium-ion-battery-performance-data/
Jun 2021	Graphene aluminium-ion battery performance data – Cycle Lifehttps://graphenemg.com/graphene-aluminium-ion-battery-performance-data/
Jun 2021	Significant potential battery customer market response to launch of batteryhttps://graphenemg.com/gmg-graphene-aluminium-ion-battery-progress-update/
Jul 2021	Investment decision for coin cell battery development centrehttps://graphenemg.com/gmg-battery-pilot-plant-investment/
Oct 2021	Construction starts for coin cell battery development centrehttps://graphenemg.com/construction-battery-pilotplant/
Oct 2021	Bosch Australia Manufacturing Solutions and GMG sign Letter of Intenthttps://graphenemg.com/gmg-and-bosch-sign-collaboration-arrangement-for-bosch-to-design-and-deliver-gmgs-graphene-aluminium-ion-battery-manufacturing-plant/
Dec 2021	Commencement coin cell battery development centrehttps://graphenemg.com/battery-pilot-plant/
Dec 2021	Initial coin cell batteries sent for customer feedbackhttps://graphenemg.com/graphene-aluminium-battery-customers-prototypes/
Mar 2022	Initial factory acceptance testing of semi-automated prototype battery cell assembly equipmenthttps://graphenemg.com/gmg-announces-initial-factory-acceptance-testing-of-semi-automated-prototype-battery-cell-assembly-equipment/
Mar 2022	Wood Engineering and GMG Sign a Letter of Intenthttps://graphenemg.com/gmg-and-wood-agree-collaboration-arrangement-for-wood-to-engineer-and-deliver-major-graphene-manufacturing-expansion-projects/
May 2022	Rio Tinto and GMG sign Letter of Intenthttps://graphenemg.com/gmg-riotinto-energysavings-battery/
Jun 2022	Commissioning of Pouch Cell Equipmenthttps://graphenemg.com/gmg-manufactures-first-pouch-cell/
Jun 2022	Bob Galyen, former chief technology officer of CATL, joins GMG technical advisory committee.https://graphenemg.com/gmg-technical-advisory-committee-leadership-team-additions-and-cfo-change/
Aug 2022	Investment decision for Phase 1 modular Graphene Production Planthttps://graphenemg.com/gmg-announces-phase-1-expansion-project-to-graphene-manufacturing-facility-for-energy-saving-products-and-batteries/
Oct 2022	Significant battery performance, cell and graphene production improvementshttps://graphenemg.com/gmgs-battery-update-significant-battery-performance-cell-and-graphene-production-improvements/
Dec 2022	Investment of $600k Battery Development Centrehttps://graphenemg.com/gmg-invests-au-600000-to-accelerate-battery-pouch-cell-customer-testing-development-in-2023/
Feb 2023	Australian Government Approval (AICIS) for production and sale of batteries.https://graphenemg.com/gmg-receives-regulatory-approval-to-enable-significant-commercial-sales/
May 2023	Battery Joint Development Agreement with Rio Tinto signedhttps://graphenemg.com/gmg-announces-battery-joint-development-agreement-with-rio-tinto/
May 2023	Battery Technology Readiness Level (BRTL) 2-3 reachedhttps://graphenemg.com/gmg-announces-battery-team-and-related-updates/
May 2023	Decision to switch to develop Pouch Cells (instead of Coin Cells)https://graphenemg.com/gmg-announces-battery-team-and-related-updates/
Jul 2023	Bob Galyen former chief technology officer of CATL joins GMG board of Directorshttps://graphenemg.com/graphene-manufacturing-group-appoints-former-chief-technology-officer-of-catl-limited-to-its-board-of-directors/
Sep 2023	Battery Pouch Cell Prototypes Multilayered Auto-Stacker Demonstrationhttps://graphenemg.com/gmg-graphene-aluminium-ion-battery-pouch-cell-prototypes-multilayered-auto-stacker-demonstration/
Sep 2023	Reaching 500 mAh capacity batteryhttps://graphenemg.com/gmg-achieves-500mah-graphene-aluminium-ion-battery-prototype-in-pouch-cell-format/
Sep 2023	Battery Technology Readiness Level (BRTL) 4 reachedhttps://graphenemg.com/gmg-achieves-500mah-graphene-aluminium-ion-battery-prototype-in-pouch-cell-format/
Nov 2023	Rio Tinto and GMG Partnership Video Launchedhttps://graphenemg.com/rio-tinto-gmg-battery-partnership-video-launch/
Dec 2023	Commissioning of modular Graphene Production Planthttps://graphenemg.com/graphene-manufacturing-group-commissions-modular-graphene-production-plant/
Feb 2024	1000 mAh Capacity Reachedhttps://graphenemg.com/gmgs-graphene-aluminium-ion-battery-1000-mah-capacity-reached-and-next-steps-toward-commercialisation/
Mar 2024	Graphene Manufacturing Group Secures AU$2 million Funding Grant from Queensland Government for Battery Pilot Planthttps://graphenemg.com/graphene-manufacturing-group-secures-au2-million-funding-grant-from-queensland-government-for-battery-pilot-plant/
Aug 2024	GMG's Graphene Aluminium-Ion Battery: Progress Update and Next Steps Toward Commercialisationhttps://graphenemg.com/gmgs-graphene-aluminium-ion-battery-progress-update-and-next-steps-toward-commercialisation/

RSU Grants

The Company is also pleased to announce that following the annual remuneration review, its Board of Directors have approved the grant of an aggregate of 2,021,848 Restricted Share Units ("RSU's") to employees and directors of the Company pursuant to its Restricted Share and Performance Share Plan and the Stock Option Plan.

When vested, each RSU entitles the holder thereof to receive one Share upon exercise in accordance with the Plan . The holder at their own discretion, and separately to the Company, may action those shares accordingly for their personal use.

About GMG

GMG is an Australian based clean-technology company which develops, makes and sells energy saving and energy storage solutions, enabled by graphene manufactured via in house production process. GMG uses its own proprietary production process to decompose natural gas (i.e. methane) into its natural elements, carbon (as graphene), hydrogen and some residual hydrocarbon gases. This process produces high quality, low cost, scalable, 'tuneable' and low/no contaminant graphene suitable for use in clean-technology and other applications.

The Company's present focus is to de-risk and develop commercial scale-up capabilities, and secure market applications. In the energy savings segment, GMG has initially focused on graphene enhanced heating, ventilation and air conditioning ("HVAC-R") coating (or energy-saving coating) which is now being marketed into other applications including electronic heat sinks, industrial process plants and data centres. Another product GMG has developed is the graphene lubricant additive focused on saving liquid fuels initially for diesel engines.

In the energy storage segment, GMG and the University of Queensland are working collaboratively with financial support from the Australian Government to progress R&D and commercialization of graphene aluminium-ion batteries ("G+AI Batteries"). GMG has also developed a graphene additive slurry that is aimed to improve the performance of lithium ion batteries.

GMG's 4 critical business objectives are:

Produce Graphene and improve/scale cell production processes

Build Revenue from Energy Savings Products

Develop Next-Generation Battery

Develop Supply Chain, Partners & Project Execution Capability

For further information please contact:

Craig Nicol, Chief Executive Officer & Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223
Leo Karabelas at Focus Communications Investor Relations, leo@fcir.ca, +1 647 689 6041

www.graphenemg.com

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

Cautionary Note Regarding Forward-Looking Statements

This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends", "expects" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or will "potentially" or "likely" occur. This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding the development of the Company's pouch cell battery, that the Company will obtain repeatable third party testing of a 1000 mAh+ battery pouch cell, the timing of gathering third party laboratory battery testing data, that the Company will review the investment decision to procure and install an automated pouch cell battery pilot plant in its Richlands Australia facility and the potential to pursue large scale commercial production if the pilot plant and customer trials are successful, the timing of customer testing for an 1000 mAh pouch cell, that the Company will optimize electrochemical behaviour for pouch cells via ongoing laboratory experimentation, the ability of a pilot plant to help progress the Graphene Aluminium-Ion technology along the BTRL, the Company's ability to meet its overall timeline on the battery cell roadmap, that the service agreement with the BIC will enable the Company to optimize its cell design and battery manufacturing equipment, and the potential applications for the G+AI Battery.

Such forward-looking statements are based on a number of assumptions of management, including, without limitation, assumptions that the Company will obtain repeatable third party testing of a 1000 mAh+ battery pouch cell, that the Company will review the investment decision to procure and install an automated pouch cell battery pilot plant in its Richlands Australia facility, that the Company may move to large scale commercial production if the pilot plant and customer trials are successful, that the Company will be able to optimize the electrochemical behaviour of the pouch cell through laboratory experimentation, that a pilot plant will assist in progressing its Graphene Aluminium-Ion technology along the BTRL, that the service agreement with the BIC will enable the Company to optimize its cell design and battery manufacturing equipment, and that the Company will be able to meet its overall timeline on the battery cell roadmap. Additionally, forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of GMG to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: that the Company will not be able to obtain repeatable third party testing of a 1000 mAh+ battery pouch cell, that the Company will choose not to proceed with a pilot plant, that the Company will not proceed to customer testing and laboratory testing on the expected timeline or at all, that the Company will not pursue large scale commercial production even if the pilot plant and customer trials are successful, that the construction of a pilot plant will not help advance the Graphene Aluminium-Ion technology along the BTRL, that the Company will not be able to optimize the electrochemical behaviour of the pouch cell through laboratory experimentation or at all, that the Company will not be able to meet its overall timeline on the battery cell roadmap, that the service agreement with the BIC will not enable the Company to optimize its cell design and battery manufacturing equipment, risks relating to the extent and duration of the conflict in Eastern Europe and its impact on global markets, the volatility of global capital markets, political instability, the failure of the Company to obtain regulatory approvals, attract and retain skilled personnel, unexpected development and production challenges, unanticipated costs and the risk factors set out under the heading "Risk Factors" in the Company's annual information form dated October 12, 2023 available for review on the Company's profile at www.sedarplus.ca.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/243059

It is hard to get excited after looking at FMC's (NYSE:FMC) recent performance, when its stock has declined 38% over the past three months. However, stock prices are usually driven by a company’s financials over the long term, which in this case look pretty respectable. Particularly, we will be paying attention to FMC's ROE today.

Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. Put another way, it reveals the company's success at turning shareholder investments into profits.

See our latest analysis for FMC

How To Calculate Return On Equity?

The formula for return on equity is:

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

So, based on the above formula, the ROE for FMC is:

8.9% = US$403m ÷ US$4.5b (Based on the trailing twelve months to December 2024).

The 'return' is the income the business earned over the last year. So, this means that for every $1 of its shareholder's investments, the company generates a profit of $0.09.

What Is The Relationship Between ROE And Earnings Growth?

Thus far, we have learned that ROE measures how efficiently a company is generating its profits. 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. Assuming all else is equal, companies that have both a higher return on equity and higher profit retention are usually the ones that have a higher growth rate when compared to companies that don't have the same features.

A Side By Side comparison of FMC's Earnings Growth And 8.9% ROE

On the face of it, FMC's ROE is not much to talk about. However, given that the company's ROE is similar to the average industry ROE of 9.9%, we may spare it some thought. Having said that, FMC has shown a modest net income growth of 17% over the past five years. Considering the moderately low ROE, it is quite possible that there might be some other aspects that are positively influencing the company's earnings growth. For example, it is possible that the company's management has made some good strategic decisions, or that the company has a low payout ratio.

We then compared FMC's net income growth with the industry and we're pleased to see that the company's growth figure is higher when compared with the industry which has a growth rate of 11% in the same 5-year period.

NYSE:FMC Past Earnings Growth March 3rd 2025

Earnings growth is an important metric to consider when valuing a stock. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. Doing so will help them establish if the stock's future looks promising or ominous. Has the market priced in the future outlook for FMC? You can find out in our latest intrinsic value infographic research report.

Is FMC Using Its Retained Earnings Effectively?

FMC has a healthy combination of a moderate three-year median payout ratio of 33% (or a retention ratio of 67%) and a respectable amount of growth in earnings as we saw above, meaning that the company has been making efficient use of its profits.

Additionally, FMC has paid dividends over a period of at least ten years which means that the company is pretty serious about sharing its profits with shareholders. Upon studying the latest analysts' consensus data, we found that the company's future payout ratio is expected to rise to 55% over the next three years. However, FMC's future ROE is expected to rise to 11% despite the expected increase in the company's payout ratio. We infer that there could be other factors that could be driving the anticipated growth in the company's ROE.

Conclusion

In total, it does look like FMC has some positive aspects to its business. Despite its low rate of return, the fact that the company reinvests a very high portion of its profits into its business, no doubt contributed to its high earnings growth. With that said, the latest industry analyst forecasts reveal that the company's earnings growth is expected to slow down. To know more about the company's future earnings growth forecasts take a look at this free report on analyst forecasts for the company to find out more.

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