We recently compiled a list of the 8 Best Rare Earth Stocks and ETFs. In this article, we are going to take a look at where Teck Resources Limited (NYSE:TECK) stands against the other rare earth stocks and ETFs.

Rare earth elements (REEs), which refers to 17 metals that are similar chemically, are surprisingly abundant in Earth's crust. However, their dispersion and geochemical properties make them difficult and expensive to extract, leading to them being called "rare."

REEs are important for a vast range of technologies, earning them the nickname "vitamins of modern industry." Apart from being irreplaceable for clean energy and consumer electronics production, REEs are also strategic for defense and aerospace engineering, the production of aircraft, missiles, satellites, and communication systems.

Hence, it is no wonder that the global rare earth metals market is valued at an estimated $5.65 billion in 2024. Analysts project this market to experience steady growth, reaching $8.63 billion by 2031. This is equivalent to a compound annual growth rate (CAGR) of 6.2% over this period, indicating a promising future for the industry.

China has been dominating the rare earth metals market for decades producing a staggering 240,000 metric tons last year, over five times more than its closest competitor, the United States, according to US Geological Survey data. China further maintains its control by processing around 90% of the world's rare earths into permanent magnets used in various technologies. In 2022, China accounted for 70% of global production of REEs.  This dominance stems from a combination of factors, including historical geological exploration efforts, favorable mining conditions, and government support for the industry.

Brazil, along with other Western countries, is currently working towards breaking China’s dominance of this industry. Brazil has advantages like low labor costs, clean energy, and established regulations. However, challenges include low rare earth prices which have gone down 70%, technical difficulties, and getting funding. Despite these challenges, Brazil is making progress with its first mine in operation and increased government support for the industry. To jumpstart its rare earth industry, the Brazilian government allocated 1 billion reais ($194.53 million) in February to fund strategic mineral projects.

Other countries are also working towards diversifying the supply chain. In recent years, the United States has sought to mitigate risks related to the REEs’ supply chain. This includes restarting domestic mining operations, like the Mountain Pass site in California, and building processing facilities to avoid reliance on China. This objective of supply chain diversification has also led the US to secure deals with Vietnam on minerals and semiconductors.

Similar to the United States, the European Union (EU) is also actively promoting domestic extraction projects in countries such as Sweden, Finland, Spain, and Serbia. This is part of the EU's efforts to enhance its self-sufficiency in critical minerals, including rare earth elements.

Our Methodology

To shortlist the best rare earth stocks, we relied on Insider Monkey's database of 919 hedge funds as of Q1 2024 to analyze the hedge fund sentiment for each stock. We picked the rare earth stocks with the highest number of hedge fund investors. Furthermore, we included two of the best rare earth ETFs, chosen for their impressive 3-year returns. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).

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

Teck Resources Limited (NYSE:TECK)

Number of Hedge Fund Holders: 60

Teck Resources Limited (NYSE:TECK), a Canadian diversified mining company founded in 1913, engages in the exploration and production of natural resources across continents.

The company primarily focuses on steelmaking coal, copper, zinc, and energy. In addition to its main commodities, Teck Resources Limited (NYSE:TECK) also produces lead, silver, molybdenum, and various other metals, chemicals, and fertilizers. The company is also involved in gold exploration.

Teck Resources Limited (NYSE:TECK)'s Q1 2024 earnings call revealed that the adjusted EBITDA came in at $1.7 billion, driven by strong steelmaking coal and copper prices. Copper sales volumes increased, and steelmaking coal prices remained high compared to the same period last year. Revenue reached $3.98 billion, up 5.36% from Q1 2023.

Analysts have a positive outlook for Teck Resources Limited (NYSE:TECK), with an average 12-month price target of $57.3. This represents a potential upside of over 20% from the current price levels. Price forecasts range from a low of $51.63 to a high of $66.9. Furthermore, 11 out of 12 analysts have rated the stock as a “Buy.”

Here’s what Greenlight Capital said about Teck Resources Limited (NYSE:TECK) in its Q1 2024 investor letter:

“Finally, we established a medium-sized macro position to benefit from higher copper prices. Long-time partners may recall that in 2021 we presented Teck Resources Limited (NYSE:TECK) at the Sohn Investment Conference. At the time, our thesis was based on a combination of being bullish on copper and believing that TECK was about to exit the penalty box after a multi-year investment in a new copper mine that was on the brink of finally coming online. Back then, TECK traded at C$31.09. Based on copper at $4.50 a pound, we thought the stock was undervalued by half. It has since doubled (and dramatically outperformed copper peer Freeport-McMoRan) and, over time, we have reduced the position into strength.

As we showed on this slide from our 2021 presentation, our thesis was that after several new mines, including TECK’s, there would not be new supply available in the second half of this decade.

Time has passed, the new mines have come online and the anticipated gap between supply and demand is likely to open up in the next year. While we still believe TECK is undervalued should copper prices rise, it is less undervalued than it once was. Our thesis now is that copper supply is about to fall short of demand, forcing prices substantially higher. Once again, we think the best way to invest in that thesis is the most direct way – in this case through options on copper futures.”

Overall TECK ranks 2nd on our list of the best rare earth stocks and ETFs to buy. You can visit 8 Best Rare Earth Stocks and ETFs to see the other rare earth stocks and ETFs that are on hedge funds’ radar. While we acknowledge the potential of TECK as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than TECK but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

 

READ NEXT: Analyst Sees a New $25 Billion "Opportunity" for NVIDIA and Jim Cramer is Recommending These 10 Stocks in June.

 

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

We recently compiled a list of the 8 Best Rare Earth Stocks and ETFs. In this article, we are going to take a look at where Freeport-McMoRan Inc. (NYSE:FCX) stands against the other rare earth stocks and ETFs.

Rare earth elements (REEs), which refers to 17 metals that are similar chemically, are surprisingly abundant in Earth's crust. However, their dispersion and geochemical properties make them difficult and expensive to extract, leading to them being called "rare."

REEs are important for a vast range of technologies, earning them the nickname "vitamins of modern industry." Apart from being irreplaceable for clean energy and consumer electronics production, REEs are also strategic for defense and aerospace engineering, the production of aircraft, missiles, satellites, and communication systems.

Hence, it is no wonder that the global rare earth metals market is valued at an estimated $5.65 billion in 2024. Analysts project this market to experience steady growth, reaching $8.63 billion by 2031. This is equivalent to a compound annual growth rate (CAGR) of 6.2% over this period, indicating a promising future for the industry.

China has been dominating the rare earth metals market for decades producing a staggering 240,000 metric tons last year, over five times more than its closest competitor, the United States, according to US Geological Survey data. China further maintains its control by processing around 90% of the world's rare earths into permanent magnets used in various technologies. In 2022, China accounted for 70% of global production of REEs.  This dominance stems from a combination of factors, including historical geological exploration efforts, favorable mining conditions, and government support for the industry.

Brazil, along with other Western countries, is currently working towards breaking China’s dominance of this industry. Brazil has advantages like low labor costs, clean energy, and established regulations. However, challenges include low rare earth prices which have gone down 70%, technical difficulties, and getting funding. Despite these challenges, Brazil is making progress with its first mine in operation and increased government support for the industry. To jumpstart its rare earth industry, the Brazilian government allocated 1 billion reais ($194.53 million) in February to fund strategic mineral projects.

Other countries are also working towards diversifying the supply chain. In recent years, the United States has sought to mitigate risks related to the REEs’ supply chain. This includes restarting domestic mining operations, like the Mountain Pass site in California, and building processing facilities to avoid reliance on China. This objective of supply chain diversification has also led the US to secure deals with Vietnam on minerals and semiconductors.

Similar to the United States, the European Union (EU) is also actively promoting domestic extraction projects in countries such as Sweden, Finland, Spain, and Serbia. This is part of the EU's efforts to enhance its self-sufficiency in critical minerals, including rare earth elements.

Our Methodology

To shortlist the best rare earth stocks, we relied on Insider Monkey's database of 919 hedge funds as of Q1 2024 to analyze the hedge fund sentiment for each stock. We picked the rare earth stocks with the highest number of hedge fund investors. Furthermore, we included two of the best rare earth ETFs, chosen for their impressive 3-year returns. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).

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

Freeport-McMoRan Inc. (NYSE:FCX)

Number of Hedge Fund Holders: 86

Freeport-McMoRan Inc. (NYSE:FCX) is a major mining company that digs for valuable minerals across three continents: North America, South America, and Indonesia. Established in 1987 and headquartered in Phoenix, Arizona, the company primarily focuses on copper, gold, and molybdenum, while also exploring other metals. Freeport-McMoRan Inc. (NYSE:FCX) ranks first on our list of the best rare earth stocks and ETFs.

Freeport-McMoRan Inc. (NYSE:FCX) is currently developing a geothermal heating system for its copper mines in Arizona. This sustainable heat source will improve copper recovery from previously mined materials. The project also includes improvements to the electrical grid for better reliability. The project has a total cost of $175 million and is expected to take 5-7 years to complete.

Freeport-McMoRan Inc. (NYSE:FCX)  reported a strong Q1 2024 with adjusted EBITDA of $2.5 billion and operating cash flow of $1.9 billion. This positive performance was driven by a favorable copper price, averaging $3.94 per pound. The company highlighted efficient operations in the U.S. despite lower ore grades, while South American and Indonesian mines exceeded expectations. Capital expenditures were $800 million, excluding a $500 million investment in their Indonesian smelter project, which is on track for a June 2024 start.

Wall Street analysts are bullish on Freeport-McMoRan (NYSE:FCX), with an average price target of $53.86. This represents a potential increase of over 12% from the current price levels. Analysts' predictions range from a high of $60 to a low of $46 per share. The majority of the analysts (8 out of 14) have given the stock a “Buy” rating.

Overall FCX ranks 1st on our list of the best rare earth stocks and ETFs to buy. You can visit 8 Best Rare Earth Stocks and ETFs to see the other rare earth stocks and ETFs that are on hedge funds’ radar. While we acknowledge the potential of FCX as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than FCX but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

 

READ NEXT: Analyst Sees a New $25 Billion "Opportunity" for NVIDIA and Jim Cramer is Recommending These 10 Stocks in June.

 

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

One stock that might be an intriguing choice for investors right now is Southern Copper Corporation SCCO. This is because this security in the Mining – Non Ferrous space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective. This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Mining – Non Ferrous space as it currently has a Zacks Industry Rank of 51 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there. Meanwhile, Southern Copper is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.

Southern Copper Corporation Price and ConsensusSouthern Copper Corporation Price and Consensus

Southern Copper Corporation price-consensus-chart | Southern Copper Corporation Quote

In fact, over the past month, current quarter estimates have risen from 93 cents per share to $1.06 per share, while current year estimates have risen from $3.97 per share to $4.22 per share. This has helped SCCO to earn a Zacks Rank #2 (Buy), further underscoring the company’s solid position. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.So, if you are looking for a decent pick in a strong industry, consider Southern Copper. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.

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Zacks Investment Research

Morgan Stanley analyst Carlos De Alba upgraded both aluminum producer Alcoa and copper miner Freeport-McMoRan stock to Buy from Hold. EVs and HVACs will drive up the metals’ prices.

WHITE ROCK, BC / ACCESSWIRE / June 20, 2024 / Honey Badger Silver Inc. (TSXV:TUF)(OTCQB:HBEIF) ("Honey Badger" or the "Company") believes it has identified a "Snowline-style" geologic target at its Plata Project, located adjacent to Snowline Gold Corp.'s major discovery in the Tintina Gold Belt of the Yukon Territory.

In a news release dated March 5, 2024, Honey Badger announced that it was increasing its land position at Plata to cover a geophysical anomaly (magnetic low), interpreted as a possible intrusive source of high-grade Plata silver & base metal mineralization. In a news release and webinar dated March 7, 2024, the company discussed in detail the theory that Plata fits the Reduced Intrusive zonation model defined at Snowline's Rogue Project, with the critical link provided by discovery of intrusive-hosted Type IV veins during the 2023 field season. The Company believes these new leases extend to prospective areas identified by combining this model with existing geophysical data.

Honey Badger has engaged ExploreTech (www.exploretech.ai) to analyze geophysical data at Plata to refine the highest-potential targets. ExploreTech is an innovative geoscience computing company founded by Stanford alumni geophysicist Alex Miltenberger PhD and geologist Tyler Hall PhD. ExploreTech uses innovative data interpretation methods including proprietary xFlare™ technology to interpret geophysical data in conjunction with geologic data. This methodology has been successful in siting drill holes which intersected mineralization in multiple geologic settings. At Plata, their work is expected to provide insight as to the possible shape, size, and location of a buried intrusion which would represent a significant mineralized target.

The Company's CEO, Dorian L. (Dusty) Nicol, commented:

"We interpret Plata as being related to the same style of mineralization as Snowline Gold Corp.'s Rogue Project. The work that ExploreTech will do for us using proprietary cloud-based computing technology will help identify potential targets related to the buried intrusion believed to be the cause of the geophysical anomaly covered by our recently acquired claims. We will receive the results of this analysis before beginning summer field work at Plata in July. The objective of this year's field program is to identify drill targets with a program of geologic mapping and sampling focusing on the intrusive-hosted veins discovered in 2023. We now interpret the ‘smoke' represented by high-grade silver mineralization at surface as coming from a large ‘fire' that is not far away. The upcoming work will help us to vector in that direction. Engaging ExploreTech is also another illustration of Honey Badger's commitment to using innovative concepts to cost-effectively advance projects and create asset value."

Plata is a large, intensely mineralized property with significant historic production and silver occurrences of exceptionally high grade. When operating in the 1980s, mined ore was sufficiently high grade to justify being flown to Idaho for processing. Records indicate yield of 9,020 kg (290,000 oz) of silver from a reported 2,041 tonnes of hand sorted material, equivalent to a recovered silver grade of approximately 4,420 grams per tonne (g/t) silver. There are 32 known silver occurrences at Plata with grades up to 19,000 g/t silver and 78 g/t gold, plus extensive un-drilled base metals geochemical anomalies.

Plata benefits from strategic infrastructure, hosting the only airstrip in the area, which also provides access to the Snowline Gold project. The Plata Access Track, while not entirely controlled by Honey Badger, is the only surface link. The district is part of the Tombstone Gold Belt, which includes Sitka Gold Corp., Victoria Gold Corp., and Snowline Gold Corp., and is being recognized as an area of rich mineral endowment and tremendous exploration potential. Plata is in the center of this rapidly emerging region.

Initial exploration work at Plata confirmed the presence of high-grade silver veins at surface and exploration was driven by analogies to the rich Keno Hill Silver Mine in the Yukon, one of the highest-grade silver deposits in the world, now being operated by Hecla Mining. While the analogy to Keno Hill remains valid, the Company in recent months has completed a re-interpretation of data which led to the recognition of Plata as a possibly part of a larger "Snowline-style" mineralized system. This adds the potential for a large gold deposit at Plata in addition to known high-grade silver and base metals.

Location map:

Intrusive-hosted veins:

About Honey Badger Silver Inc.

Honey Badger Silver is a mining consolidation, roll-up, development, and holding company that has assembled a remarkable portfolio from a modest capital base over the past three years. The company is led by a highly experienced leadership team with a track record of value creation backed by a skilled technical team. Our projects are located in areas with a long history of mining, including the Sunrise Lake project with a historic resource of 12.8 Moz of silver (and 201.3 million pounds of zinc) Indicated and 13.9 Moz of silver (and 247.8 million pounds of zinc) Inferred (1)(3) located in the Northwest Territories and the Plata high grade silver project located 165 km east of Yukon's prolific Keno Hill and adjacent to Snowline Gold's Rogue discovery. The Company's Clear Lake Project in the Yukon Territory has a historic resource of 5.5 Moz of silver and 1.3 billion pounds of zinc (2)(3). The Company also has a significant land holding at the Nanisivik Mine Area located in Nunavut, Canada that produced over 20 Moz of silver between 1976 and 2002 (2,3). A qualified person has not done sufficient work to classify the foregoing historic resources as current mineral resources and the Company is not treating the estimate as a current mineral resource. The historic resource estimates cannot be relied upon. Additional work, including verification drilling / sampling, will be required to verify the estimate as a current mineral resource.

Sunrise Lake 2003 RPA historic resource: Indicated 1.522 million tonnes grading 262 grams/tonne silver, 6.0% zinc, 2.4% lead, 0.08% copper, and 0.67 grams/tonne gold and Inferred 2.555 million tonnes grading 169 grams/tonne silver, 4.4% zinc, 1.9% lead, 0.07% copper, and 0.51 grams/tonne gold.

Clear Lake 2010 SRK historic Resource: Inferred 7.76 million tonnes grading 22 grams/tonne silver, 7.6% zinc, and 1.08% lead.

Geological Survey of Canada, 2002-C22, "Structural and Stratigraphic Controls on Zn-Pb-Ag Mineralization at the Nanisivik Mississippi Valley type Deposit, Northern Baffin Island, Nunavut; by Patterson and Powis."

ON BEHALF OF THE BOARD

Dorian L. (Dusty) Nicol, CEO

For more information please visit our website www.honeybadgersilver.com or contact Ms. Michelle Savella for Investor Relations | msavella@honeybadgersilver.com | +1 (604) 828-5886.

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.

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time such assumptions and estimates were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Honey Badger to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.

Such factors include, but are not limited to, risks relating to capital and operating costs varying significantly from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; other risks involved in the mineral exploration and development industry; and those risks set out in the Company's public documents filed on SEDAR+ (www.sedarplus.ca) under Honey Badger's issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed timeframes or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

SOURCE: Honey Badger Silver Inc.

View the original press release on accesswire.com

DENVER, CO / ACCESSWIRE / June 20, 2024 / Solitario Resources Corp. ("Solitario") (NYSE American:XPL)(TSX:SLR) announces results of its Annual General Meeting of Shareholders at which holders of 39,943,338 shares of common stock were present in person or by proxy. The four matters identified below were submitted to a vote of the shareholders. Each proposal is more fully described in Solitario's definitive proxy statement filed with the Securities and Exchange Commission dated April 26, 2024.

Chris Herald, President and CEO of Solitario, commented "We are pleased with the results of this year's Annual Meeting and thank our shareholders for their ongoing support as we strive to create value by moving our projects forward. The scope of our exploration activities includes the exploration success we have reported at our Golden Crest project in South Dakota as well as on-going activities at our Lik zinc project in Alaska operated by Teck and at our Florida Canyon zinc project in Peru, operated by Nexa. We look forward to reporting results on these activities in the coming months."

Report of Voting Results

1. Election of Directors. Seven directors were elected to serve until the next Annual Meeting of Shareholders or until their successors are elected and qualified, with each director receiving the votes (and percentage of shares voting, excluding broker non-votes) below:

Shares voted
Name	For	Withheld	Broker Non-Votes
Brian Labadie	31,042.633 (99.73% of shares voting)	85,524	8,815,181
John Labate	30,751,591 (98.79% of shares voting)	376,567	8,815,181
James Hesketh	28,623,488 (91.95% of shares voting)	2,504,670	8,815,181
Christopher E. Herald	31,067,754 (99.81% of shares voting)	60,403	8,815,181
Gil Atzmon	30,818,015 (99.00% of shares voting)	310,142	8,815,181
Joshua D. Crumb	30,685,575 (98.58% of shares voting)	442,582	8,815,181
Debbie Austin	30,927,466 (99.36% of shares voting)	200,691	8,815,181

2. Advisory Vote on Executive Compensation: The shareholders approved the following resolution concerning the compensation of Solitario's named executive officers, with 30,647,871 shares voting for (98.45% of shares voting), 230,124 shares voting against, 250,162 shares abstaining, and 8,815,181 broker non-votes.

"RESOLVED THAT: Solitario shareholders approve the compensation of Solitario's named executive officers, as disclosed in the Company's proxy statement, dated April 26, 2024, pursuant to the compensation disclosure rules of the SEC set forth in Item 402 of Regulation S-K, including, but not limited to, the Compensation Discussion and Analysis, the compensation tables, and any related material disclosed in the proxy statement for the 2024 annual meeting."

3. Advisory Vote on the Frequency of the Company's Advisory Vote on Executive Compensation: In accordance with Section 14A of the Securities Exchange Act of 1934 (the "Exchange Act"), the Company is required to solicit Shareholder preferences regarding the frequency of future advisory votes on executive compensation at least once every six years. Accordingly, we sought an advisory vote from our shareholders that asks them to indicate how often they believe the Company should hold an advisory vote on the executive compensation of our named executive officers.

A majority of shareholders voted that a non-binding advisory vote on executive compensation should occur every year, with 30,912,432 shares voting for an interval of One Year (99.00% of shares voting). The Company will hold a non-binding advisory vote on executive compensation every year until 2030 in accordance with the rules of the United States Securities and Exchange Commission.

4. Appointment of Auditors. The appointment of Assure CPA, LLC as Solitario's auditors for fiscal year 2024 was ratified, with 39,575,235 shares voting for (99.32% of shares voting), 106,621 shares voting against, 164,732 shares voting to abstain, and 96,750 broker non-votes

About Solitario

Solitario is a natural resource exploration and development company focused on high-quality Tier-1 gold and zinc projects. The Company's common stock is traded on the NYSE American ("XPL") and on the Toronto Stock Exchange ("SLR"). In addition to its Golden Crest project, Solitario holds 50% joint venture interest (Teck Resources 50%) in the high-grade, Lik zinc deposit in Alaska and a 39% joint venture interest (Nexa Resources holds the remaining 61% interest) on the high-grade Florida Canyon zinc project in Peru. Solitario is carried to production through its joint venture arrangement with Nexa. Solitario's Management and Directors hold approximately 9.0% (excluding options) of the Company's 81.4 million shares outstanding. Additional information about Solitario is available online at www.solitarioxr.com.

Solitario has a long history of committed Environmental, Social and Responsible Governance ("ESG") of its business. We realize ESG issues are also important to investors, employees and all stakeholders, including communities in which we work. We are pledged to operate our business in a manner that supports environmental and social initiatives and responsible corporate governance.

FOR MORE INFORMATION CONTACT:

Christopher E. HeraldPresident & CEO(303) 534-1030, Ext. 1

SOURCE: Solitario Resources Corp.

View the original press release on accesswire.com

Investors looking for stocks in the Mining – Non Ferrous sector might want to consider either Amerigo Resources (ARREF) or Southern Copper (SCCO). But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.

There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revision trends, while our Style Scores work to grade companies based on specific traits.

Currently, both Amerigo Resources and Southern Copper are holding a Zacks Rank of # 1 (Strong Buy). The Zacks Rank favors stocks that have recently seen positive revisions to their earnings estimates, so investors should rest assured that both of these companies have improving earnings outlooks. However, value investors will care about much more than just this.

Value investors analyze a variety of traditional, tried-and-true metrics to help find companies that they believe are undervalued at their current share price levels.

The Style Score Value grade factors in a variety of key fundamental metrics, including the popular P/E ratio, P/S ratio, earnings yield, cash flow per share, and a number of other key stats that are commonly used by value investors.

ARREF currently has a forward P/E ratio of 7.31, while SCCO has a forward P/E of 25.58. We also note that ARREF has a PEG ratio of 0.37. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. SCCO currently has a PEG ratio of 1.18.

Another notable valuation metric for ARREF is its P/B ratio of 1.83. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. By comparison, SCCO has a P/B of 11.09.

These metrics, and several others, help ARREF earn a Value grade of A, while SCCO has been given a Value grade of F.

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

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Amidst a backdrop of moderating inflation and shifting interest rate expectations in both the U.S. and Canada, investors are closely watching market movements for potential opportunities. In this environment, identifying undervalued stocks on the TSX can be particularly compelling, as these assets may present significant value in light of current economic conditions.

Top 10 Undervalued Stocks Based On Cash Flows In Canada

Name	Current Price	Fair Value (Est)	Discount (Est)
Calian Group (TSX:CGY)	CA$55.42	CA$110.42	49.8%
Calibre Mining (TSX:CXB)	CA$1.86	CA$3.14	40.8%
goeasy (TSX:GSY)	CA$187.26	CA$313.66	40.3%
Trisura Group (TSX:TSU)	CA$42.00	CA$80.18	47.6%
Viemed Healthcare (TSX:VMD)	CA$10.45	CA$20.08	48%
Endeavour Mining (TSX:EDV)	CA$28.61	CA$54.00	47%
Green Thumb Industries (CNSX:GTII)	CA$15.96	CA$27.20	41.3%
Jamieson Wellness (TSX:JWEL)	CA$27.98	CA$46.93	40.4%
Kits Eyecare (TSX:KITS)	CA$7.85	CA$14.24	44.9%
Capstone Copper (TSX:CS)	CA$9.33	CA$16.35	42.9%

Click here to see the full list of 24 stocks from our Undervalued TSX Stocks Based On Cash Flows screener.

We're going to check out a few of the best picks from our screener tool

Capstone Copper

Overview: Capstone Copper Corp. is a copper mining company with operations in the United States, Chile, and Mexico, and has a market capitalization of approximately CA$6.66 billion.

Operations: The company's revenue is primarily generated from its mining operations at Pinto Valley ($438.59 million), Mantoverde ($307.90 million), Mantos Blancos ($379.16 million), and Cozamin ($216.78 million).

Estimated Discount To Fair Value: 42.9%

Capstone Copper, trading at CA$9.33, significantly below the estimated fair value of CA$16.35, appears undervalued based on cash flow analysis. Recent financials show a reduction in net loss to US$4.84 million from US$20 million year-over-year with a slight earnings per share improvement. Despite recent equity offerings raising AUD 592.8 million and projected revenue growth at 18.1% annually—above the Canadian market average—the company's profitability is expected within three years, though past shareholder dilution raises concerns about future value per share retention.

• The growth report we've compiled suggests that Capstone Copper's future prospects could be on the up.

• Click to explore a detailed breakdown of our findings in Capstone Copper's balance sheet health report.

TSX:CS Discounted Cash Flow as at Jun 2024Calibre Mining

Overview: Calibre Mining Corp. operates in the exploration, development, and mining of gold properties across Nicaragua, the United States, and Canada, with a market capitalization of approximately CA$1.40 billion.

Operations: The company generates revenue primarily from refined gold, totaling CA$566.68 million.

Estimated Discount To Fair Value: 40.8%

Calibre Mining, priced at CA$1.86, is undervalued per DCF valuation, suggesting a fair value of CA$3.14. Recent drill results from Valentine Gold Mine indicate significant untapped potential, enhancing its investment appeal despite a net loss this quarter. With expected annual earnings growth outpacing the Canadian market average significantly and revenue growth forecasts also strong, the stock shows promise although recent substantial insider selling and shareholder dilution could temper optimism.

• Our growth report here indicates Calibre Mining may be poised for an improving outlook.

• Get an in-depth perspective on Calibre Mining's balance sheet by reading our health report here.

TSX:CXB Discounted Cash Flow as at Jun 2024Energy Fuels

Overview: Energy Fuels Inc. operates in the United States, focusing on the extraction, recovery, recycling, exploration, permitting, evaluation, and sale of uranium mineral properties with a market capitalization of approximately CA$1.35 billion.

Operations: The company's revenue primarily stems from miscellaneous metals and mining activities, totaling CA$43.74 million.

Estimated Discount To Fair Value: 11.4%

Energy Fuels, trading at CA$8.41, is considered undervalued with a DCF-based fair value of CA$9.49. Analyst consensus suggests strong potential with a 77.2% upside and forecasts indicate robust revenue growth at 40.8% annually, outpacing the Canadian market's 7.3%. The recent strategic alliance to develop the Donald Project in Australia underscores its commitment to expanding its uranium and rare earth elements production, aligning with global clean energy needs despite recent shareholder dilution concerns.

• Insights from our recent growth report point to a promising forecast for Energy Fuels' business outlook.

• Unlock comprehensive insights into our analysis of Energy Fuels stock in this financial health report.

TSX:EFR Discounted Cash Flow as at Jun 2024Next Steps

• Unlock our comprehensive list of 24 Undervalued TSX Stocks Based On Cash Flows by clicking here.

• Already own these companies? Bring clarity to your investment decisions by linking up your portfolio with Simply Wall St, where you can monitor all the vital signs of your stocks effortlessly.

• Simply Wall St is your key to unlocking global market trends, a free user-friendly app for forward-thinking investors.

Contemplating Other Strategies?

• Explore high-performing small cap companies that haven't yet garnered significant analyst attention.

• Diversify your portfolio with solid dividend payers offering reliable income streams to weather potential market turbulence.

• Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management.

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 TSX:CS TSX:CXB and TSX:EFR.

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

Vancouver, British Columbia–(Newsfile Corp. – June 19, 2024) – Pacific Bay Minerals Ltd. (TSXV: PBM) ("Pacific Bay" or, the "Company") reports that the balance of its non-brokered private placement announced on March 18, 2024 and March 26, 2024 (the "Financing") will not be proceeding. The Company announced the closing of a First Tranche on May 13th, whereby the Company issued a total of 2,600,000 units (the "Hard Units") at $0.05 per Hard Unit, and 1,178,144 flow-through units (the "Flow-Through Units") at $0.07 per Flow-Through Unit, for aggregate total gross proceeds of $212,470.

About Pacific Bay Minerals Ltd.

Pacific Bay Minerals is a Canadian mineral exploration company engaged in the acquisition, exploration, and development of mining projects. Pacific Bay Minerals is focused on its 100% owned properties located in British Columbia: Sphinx Mountain Rare Earth Project near Dease Lake in northern BC and the Haskins Reed Polymetalic Project near Cassiar BC.

Pacific Bay Minerals Ltd.

Reagan Glazier, President and CEOreagan@pacificbayminerals.com(403) 815-6663

pacificbayminerals.com

This News Release contains forward-looking statements, which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "will", "may", "should", "expects", "plans", or "anticipates" or the negative of these terms or other comparable terminology. All statements included herein, other than statements of historical fact, are forward-looking statements, including but not limited to the Company's expectations regarding, the closing date of the Financing, the use of proceeds of the Financing and other matters. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking-statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith, and reflect the Company's current judgment regarding the direction of its business, actual results will may vary, sometimes materially, from any estimates, predictions, projections, assumptions, or other future performance suggestions herein. Except as required by applicable law, the Company does not intend to update any forward-looking statements to conform these statements to actual results.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/213553

PHILADELPHIA, June 19, 2024 /PRNewswire/ —

FMC Corporation (NYSE: FMC) announced today it will release its second quarter 2024 earnings on Wednesday, July 31, 2024, after the stock market close via PR Newswire and the company's website https://investors.fmc.com.

The company will host a webcast conference call on Thursday, August 1, 2024 at 9:00 a.m. ET that is open to the public via internet broadcast and telephone.

Conference Call Details:

Internet broadcast: https://investors.fmc.com

United States (Local): +1 404 975 4839United States (Toll-Free): +1 833 470 1428Global Dial-In Numbers: https://www.netroadshow.com/events/global-numbers?confId=48643 Access Code: 271734

Pre-Registration Link: https://www.netroadshow.com/events/login?show=604ac4c3&confId=66859

A replay of the call will be available via the internet and telephone from 11:00 a.m. ET on August 1, 2024, until August 22, 2024.

Internet replay: https://investors.fmc.comUnited States (Local): 1 929 458 6194United States (Toll-Free): 1 866 813 9403Access Code: 393657

About FMC

FMC Corporation is a global agricultural sciences company dedicated to helping growers produce food, feed, fiber and fuel for an expanding world population while adapting to a changing environment. FMC's innovative crop protection solutions – including biologicals, crop nutrition, digital and precision agriculture – enable growers, crop advisers and turf and pest management professionals to address their toughest challenges economically while protecting the environment. With approximately 6,000 employees at more than 100 sites worldwide, FMC is committed to discovering new herbicide, insecticide and fungicide active ingredients, product formulations and pioneering technologies that are consistently better for the planet. Visit fmc.com to learn more and follow us on LinkedIn®.

 

Cision

View original content to download multimedia:https://www.prnewswire.com/news-releases/fmc-corporation-announces-dates-for-second-quarter-2024-earnings-release-and-webcast-conference-call-302177082.html

SOURCE FMC Corporation

Forsys Metals Corp

TORONTO, June 18, 2024 (GLOBE NEWSWIRE) — Forsys Metals Corp. (TSX: FSY) (FSE: F2T) (NSX: FSY) (“Forsys” or the “Company”)

Forsys is pleased to be able to release the results of its metallurgical column leaching test work for its Norasa Uranium project (“Norasa Project”1) together with details of its work plan for further optimising heap leach conditions and ore-sorting testwork.

Highlights

• Completed metallurgical test work supports utilizing heap leaching to recover uranium at Norasa.

• A total of 16 metallurgical column leach tests have been completed. Various test conditions were assessed, covering initial scouting tests aimed at evaluating the impact of binder addition, higher irrigation rates and grind size on recoveries, leach kinetics and acid consumption.

• Uranium extraction rates of up to 87% (crushed with a conventional cone crusher, average of solids and solution based recovery) were achieved within a leach cycle time of 30 days or less. Sulphuric acid consumption ranged from 17 kg/t to 38 kg/t, depending on operational parameters. This recovery rate is on par with that achieved by other similar type operations with comparable ore type.

With the integration of higher irrigation rates, binder addition and grind size adjustments, there is an opportunity to optimise the baseline parameters, enhancing leach kinetics, reagent addition and recovery rates.

Extensive follow-up test work is planned. The primary areas of focus will include additional column tests aimed at assessing a high-pressure grinding rolls (“HPGR”) crushed product, acid consumption, irrigation rate and leach duration, with the objective of achieving an optimal uranium dissolution rate. Literature indicates between 4% to 6% increased metal extractions in heap leach operations with HPGR crushing.

As part of this follow-up test work, ore amenability for bulk ore sorting will be assessed, aimed at upgrading material prior to leaching to enhance recoveries and expedite cash flow and bolster project economics.

The Norasa Uranium Project (“Norasa Project“) is wholly-owned by the Company’s 100% subsidiary Valencia Uranium (Pty) Ltd. (“Valencia Uranium”) and comprises the Valencia uranium deposits (held under ML-149) ("Valencia”) and the Namibplaas uranium deposit (under EPL-3638, application for ML-251) (“Nambiplaas”), located in the Erongo region of Namibia.

Sample selection for metallurgical test work

Based on the mineral exploration and resource definition, with close to 300,000 metres of drilling executed for the Norasa Project and resulting mineral resource estimate and block models for Valencia, bulk samples for metallurgical test work were composed to account for the composition and spatial variance within each of the deposits.

For the bulk samples from the Valencia ore-body which underwent leaching test work at an accredited laboratory, SGS Laboratories in South Africa (“SGS”), a mix of different lithologies was selected from drill cores of a number of diamond holes, with the objective of representing the overall run-of-mine ore composition from this deposit.

From lithology modelling, it is evident that the main uranium hosting ore is alaskite, which is a rock of granitic composition. Limited uranium mineralisation occurs at the contact zones to the country rock, i.e. in schists, marbles and gneisses by intruding alaskite veins.

The bulk samples comprise fresh rock material from diamond drill cores. The initial leach test sample for phase 1 of the column leach testing was composed of alaskite material only. The second sample for phase 2 of the column leach testing was made up of ore and country rock types in proportions of approximately 72% of alaskite / granite lithologies, 13% of marble and calc-silicate rock and the remaining 15 % of different types of unmineralised schists and gneisses.

Metallurgical column leach testwork results

To date, leaching testwork at SGS comprised of bottle roll testing and column leach testing.

• Phase 1: Six column leach tests (including duplicates) were completed on predominantly alaskite samples (see Figure 1), yielding uranium extractions ranging from 77% to 87% (average of solids and solution based recovery) with acid consumption rates ranging from 17 kg/t up to 22 kg/t.

• Phase 2: A further ten column leach tests (including duplicates) have been completed on samples sourced from various parts of the orebody, encompassing country rock and marbles. During these tests, uranium extractions ranged from 69% to 85% (average of solids and solution based recovery) dependant on leach operating conditions at a leach cycle duration of 30 days. Acid consumption ranged from 23 kg/t up to 38 kg/t.

• Thirty-four bottle roll leach optimisation tests were completed to guide conditions for the column testing during Phase 1 and 2 of the programme.

Phase 1 of the programme focused on a composite sample comprising primarily alaskite material, with a head grade of approximately 187 ppm U3O8. Various crush sizes were examined after preparation in a laboratory-scale cone crusher to achieve a targeted particle size distribution (PSD). Testwork assessed crush sizes with a top size of 4.75 mm, 6.7 mm and 8 mm.

The programme's second phase evaluated three distinct ore samples sourced from different locations within the ore body, characterised by varying lithologies. These samples exhibited head grades ranging from 136 ppm to 201 ppm U3O8, with an increased presence of marbles, schists, and country rock lithologies. Crush sizes assessed ranged from a top size of approximately 6 mm to 8 mm.

SGS was chosen for its comprehensive laboratory services and global expertise. In addition to internal laboratory test procedures and quality control measures, numerous repeat assays and external laboratory assays were conducted throughout the programmes to interrogate the data set and critique accountabilities.

Leaching Columns at SGS South Africa

Figure 1: Leaching Columns at SGS South Africa

The current testwork programme has yielded the following observations and inferences:

• Enhanced leach kinetics were noted in the latter part of the programme, attributed to the acid curing procedure conducted prior to sample introduction into the columns.

• Comparative tests carried out at higher irrigation rates demonstrated improved leach kinetics and recoveries.

• Preliminary evaluation of using flocculant as a binder warrants further investigation, potentially contributing to enhanced leach kinetics and recoveries.

• The impact of crush size remains inconclusive at present. While some comparative tests indicate that finer crush sizes result in higher uranium extractions, others show no discernible effect. This aspect will be further investigated in the subsequent phase of the programme, with particular emphasis on the utilisation of HPGR crushing. Existing literature suggests a potential increase of between 4% to 6% in metal extractions in heap leach operations with HPGR crushing compared to conventional crushing methods.

• The grade-recovery relationship remains partly defined, but preliminary observations suggest a correlation between grade and its subsequent impact on recovery. The precise extent of this relationship will also be further investigated in the subsequent phase of the programme

• The acid consumption for the alaskite samples averaged approximately 17kg/ton for coarser crush sizes, with higher consumption observed for finer sizes. In the second part of the test programme, acid consumption increased up to 38kg/ton with the marble-containing samples. Optimisation of acid consumption, acid strength, irrigation rates, cycle duration and crush size are all planned for the next phase of the programme.

Grading analyses conducted on the alaskite sample leach residues revealed a higher proportion of uranium remaining in the coarser end of the size range, whereas the finer end of the size spectrum exhibited minimal uranium content. This suggests a potential liberation challenge, which will be investigated further in the next phase of the programme, particularly utilising an HPGR crushed product supported by further mineralogical analysis.

Workplan

Forsys is initiating the next phase of the test work programme along with ongoing optimisation efforts. The key workstreams will include two further phases of Column Leach tests at SGS with ongoing mineralogical analysis to complete the data evaluation.

These phases of follow up testing are aimed at enhancing the efficiency and effectiveness of extracting the uranium mineralisation from ore samples with a wider head grade range.

The programme is designed to test a range of leaching variables, including crushing by HPGR to assess the impact of the particle cracking effect to expose increased mineral surface area for improved leaching. Column work to date has shown higher uranium grades in coarser fractions of the residue, indicating the majority of mineralisation in the fines has been leached. Physical leaching variables will also be tested for optimising leach conditions.

As part of the programme a boxcut is planned which will enable access to adequate mass of bulk fresh ore material for large scale column leach testing to inform process design.

Qualified Persons Statement for Metallurgy Mr Aveshan Naidoo is a Specialist Engineer: Hydromet and Economics, for DRA South Africa Projects (Pty) Ltd of Building 33, Woodlands Office Park, 20 Woodlands Drive, Woodlands, Sandton, 2080. He holds a Bachelor of Science in Chemical Engineering from the University of KwaZulu-Natal and a Master of Business Administration from the University of Witwatersrand. He is a registered Professional Engineer with the Engineering Council of South Africa (Registration No. 20130523). Mr Naidoo has been practising his profession continuously since 2008 and has 16 years of experience across a range of African projects. He is familiar with NI 43-101 and, by reason of his education, experience, and professional registrations, he fulfils the requirements of an independent Qualified Person as defined in NI 43-101.

Qualified Persons Statement for Mining Mr Peter Christians is an Associate and Principal Mining Engineer with Qubeka Mining Consultants CC in Windhoek, Namibia. He holds a Bachelor of Science in Mining Engineering at Queen’s University in Kingston, Ontario, Canada. He is a registered Fellow Member of the Australian Institute of Mining and Metallurgy (FAusIMM, registration number 221754). Mr Christians has been practicing as a Mining Engineer continuously since 1985 in various roles and his ~40-years’ experience covers a range of projects across Africa, North America, Australia, and Russia. He is familiar with NI 43-101 and, by reason of his education, experience, and professional registrations, he fulfils the requirements of an independent Qualified Person as defined in NI 43-101.

Qualified Persons Statement for Geology The information in this release that relates to the Preliminary Leaching Test Work and Project Workplan at Norasa is based on information compiled or reviewed by Dr Guy Freemantle of The MSA Group (Pty) Ltd., Johannesburg, South Africa. The MSA Group are independent consultants to the Norasa Project, Namibia. Dr Freemantle holds a Bachelor of Science in Geology (2006) and Doctor of Philosophy in Geology (2017) both at the University of the Witwatersrand. He is a member of the Society of Economic Geologists (892905); a Fellow of the Geological Society of South Africa (965392); and is registered with SACNASP (Registration 117527). Dr Freemantle has practiced his profession continuously for 14 years and has sufficient experience and knowledge that is relevant to the style of mineralisation and type of deposits under consideration as well as to the activity that is being undertaken to fulfil requirements of a Qualified Person as per NI 43-101. Dr Freemantle consents to this release in the form and context in which it appears.

_________________________________________________________________________________________________________

About Forsys Metals Corp.

Forsys Metals Corp. (TSX: FSY, FSE: F2T, NSX: FSY) is an emerging uranium developer focused on advancing its wholly owned Norasa Uranium Project, located in the politically and uranium friendly jurisdiction of Namibia, Africa. The Norasa Uranium Project is comprised of the Valencia Uranium deposit (ML-149) and the nearby Namibplaas Uranium deposit (EPL-3638). Further information is available at the Company website www.forsysmetals.com

On behalf of the Board of Directors of Forsys Metals Corp. Richard Parkhouse, Director, Investor Relations. For additional information please contact:

Pine van Wyk, Country Director, Forsysemail: pine@forsysmetals.com

Richard Parkhouse, Director, Investor Relationsemail: rparkhouse@forsysmetals.com email: info@forsysmetals.comphone : +44 7730493432

Nikolas Matysek, Communications Manager (Canada)email: nmatysek@forsysmetals.com

Forward Looking Statement

Certain information contained in this press release constitutes "forward-looking information", within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", "be achieved" or "has the potential to". Forward looking statements contained in this press release are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR+ at www.sedarplus.ca. The forward-looking statements included in this press release are made as of the date of this press release and Forsys Metals Corp disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/51ce7a8d-fb7b-44dd-8e37-5e39d326d157

Freeport-McMoRan (FCX) closed at $47.26 in the latest trading session, marking a -1.77% move from the prior day. The stock's change was less than the S&P 500's daily gain of 0.77%. Meanwhile, the Dow gained 0.49%, and the Nasdaq, a tech-heavy index, added 0.95%.

The the stock of mining company has fallen by 11.29% in the past month, lagging the Basic Materials sector's loss of 5.19% and the S&P 500's gain of 3.71%.

Investors will be eagerly watching for the performance of Freeport-McMoRan in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.45, marking a 28.57% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $6.01 billion, indicating a 4.76% upward movement from the same quarter last year.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.71 per share and revenue of $25.23 billion, indicating changes of +11.04% and +10.39%, respectively, compared to the previous year.

Investors should also note any recent changes to analyst estimates for Freeport-McMoRan. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 3.1% rise in the Zacks Consensus EPS estimate. Freeport-McMoRan is currently a Zacks Rank #3 (Hold).

Looking at valuation, Freeport-McMoRan is presently trading at a Forward P/E ratio of 28.1. For comparison, its industry has an average Forward P/E of 15.89, which means Freeport-McMoRan is trading at a premium to the group.

One should further note that FCX currently holds a PEG ratio of 2.1. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. By the end of yesterday's trading, the Mining – Non Ferrous industry had an average PEG ratio of 0.76.

The Mining – Non Ferrous industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 37, placing it within the top 15% of over 250 industries.

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.

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

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

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

To read this article on Zacks.com click here.

Zacks Investment Research

Take oil and copper stocks, for example. The fund hit a multiyear high of $98, pushed by WTI crude oil’s 12% rise. Through late May, miners Freeport-McMoRan and Southern Copper rose 50% and 29%, respectively.

Key Insights

• The considerable ownership by individual investors in Capstone Copper indicates that they collectively have a greater say in management and business strategy

• A total of 25 investors have a majority stake in the company with 44% ownership

• Insiders have sold recently

If you want to know who really controls Capstone Copper Corp. (TSE:CS), then you'll have to look at the makeup of its share registry. And the group that holds the biggest piece of the pie are individual investors with 51% ownership. Put another way, the group faces the maximum upside potential (or downside risk).

And institutions on the other hand have a 21% ownership in the company. Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies.

In the chart below, we zoom in on the different ownership groups of Capstone Copper.

View our latest analysis for Capstone Copper

ownership-breakdownWhat Does The Institutional Ownership Tell Us About Capstone Copper?

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

Capstone Copper already has institutions on the share registry. Indeed, they own a respectable stake in the company. This suggests some credibility amongst professional investors. But we can't rely on that fact alone since institutions make bad investments sometimes, just like everyone does. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. When such a trade goes wrong, multiple parties may compete to sell stock fast. This risk is higher in a company without a history of growth. You can see Capstone Copper's historic earnings and revenue below, but keep in mind there's always more to the story.

earnings-and-revenue-growth

Capstone Copper is not owned by hedge funds. Hadrian Capital Partners Inc. is currently the company's largest shareholder with 13% of shares outstanding. Meanwhile, the second and third largest shareholders, hold 11% and 2.4%, of the shares outstanding, respectively. In addition, we found that John MacKenzie, the CEO has 1.9% of the shares allocated to their name.

On studying our ownership data, we found that 25 of the top shareholders collectively own less than 50% of the share register, implying that no single individual has a majority interest.

Researching institutional ownership is a good way to gauge and filter a stock's expected performance. The same can be achieved by studying analyst sentiments. Quite a few analysts cover the stock, so you could look into forecast growth quite easily.

Insider Ownership Of Capstone Copper

While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. Management ultimately answers to the board. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO.

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

We can see that insiders own shares in Capstone Copper Corp.. The insiders have a meaningful stake worth CA$216m. Most would see this as a real positive. If you would like to explore the question of insider alignment, you can click here to see if insiders have been buying or selling.

General Public Ownership

The general public — including retail investors — own 51% of Capstone Copper. This level of ownership gives investors from the wider public some power to sway key policy decisions such as board composition, executive compensation, and the dividend payout ratio.

Private Equity Ownership

Private equity firms hold a 11% stake in Capstone Copper. This suggests they can be influential in key policy decisions. Some investors might be encouraged by this, since private equity are sometimes able to encourage strategies that help the market see the value in the company. Alternatively, those holders might be exiting the investment after taking it public.

Private Company Ownership

It seems that Private Companies own 13%, of the Capstone Copper stock. It's hard to draw any conclusions from this fact alone, so its worth looking into who owns those private companies. Sometimes insiders or other related parties have an interest in shares in a public company through a separate private company.

Next Steps:

I find it very interesting to look at who exactly owns a company. But to truly gain insight, we need to consider other information, too. Consider for instance, the ever-present spectre of investment risk. We've identified 2 warning signs with Capstone Copper , and understanding them should be part of your investment process.

But ultimately it is the future, not the past, that will determine how well the owners of this business will do. Therefore we think it advisable to take a look at this free report showing whether analysts are predicting a brighter future.

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

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.

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

Brisbane, Queensland, Australia–(Newsfile Corp. – June 13, 2024) – Graphene Manufacturing Group Ltd. (TSXV: GMG) (OTCQX: GMGMF) ("GMG" or the "Company") is pleased to announce that it has entered into an equity distribution agreement dated June 13, 2024 (the "Distribution Agreement") with Cantor Fitzgerald Canada Corporation (the "Agent"). Pursuant to the Distribution Agreement, the Company will be entitled, at its discretion and from time-to-time during the term of the Distribution Agreement, to sell, through the Agent, such number of ordinary shares of the Company (the "Ordinary Shares") that would result in aggregate gross proceeds to the Company of up to C$20 million (the "Offering" or "ATM Facility"). Sales of the Ordinary Shares, if any, will be made in "at the market distributions", as defined in National Instrument 44-102 – Shelf Distributions, directly on the TSX Venture Exchange (the "TSXV") or on any other existing trading market in Canada. No offers or sales of Ordinary Shares will be made on any exchange or quotation system outside of Canada.

Net proceeds from the ATM Facility, if any, will be used to fund ongoing operations including, but not limited to, commercial development, product development and working capital. The ATM Facility will be effective until the earlier of (i) the issuance and sale of an aggregate amount of C$20,000,000 of Ordinary Shares through the Agent; and (ii) February 10, 2025, unless earlier terminated prior to such date by the Company or the Agent.

The Offering will be made by way of a prospectus supplement dated June 13, 2024 (the "Prospectus Supplement") to the Company's amended and restated short form base shelf prospectus dated January 5, 2024 (amending and restating the short form base shelf prospectus dated January 9, 2023 as amended and restated by the amended and restated short form prospectus dated August 2, 2023) for the provinces of British Columbia, Alberta, Saskatchewan and Ontario; and the final short form base shelf prospectus dated January 5, 2024 for the provinces and territories of Manitoba, Quebec, New Brunswick, Nova Scotia, Prince Edward Island, Newfoundland and Labrador, Yukon, Northwest Territories and Nunavut (together with the Prospectus Supplement, the "Offering Documents"). The Prospectus Supplement will be filed with each of the provincial securities commissions in Canada. The Offering Documents will contain important detailed information about the securities being offered. Before you invest, you should read the Offering Documents and the documents incorporated therein for more complete information about the Company and the Offering. Copies of the Distribution Agreement and the Offering Documents will be available for free by visiting the Company's profile on SEDAR+ at www.sedarplus.ca.

This news release does not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of securities in the United States, or in any other jurisdiction in which such offer, solicitation or sale would be unlawful. The securities described in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or under any U.S. state securities laws, and may not be offered, sold, directly or indirectly, or delivered within the "United States" or to, or for the account or benefit of, persons in the "United States" or "U.S. persons" (as such terms are defined in Regulation S under the U.S. Securities Act) except in certain transactions exempt from the registration requirements of the U.S. Securities Act and all applicable U.S. state securities laws.

About GMG www.graphenemg.com

GMG is a clean-technology company which seeks to offer energy saving and energy storage solutions, enabled by graphene, including that manufactured in-house via a proprietary production process. GMG has developed a proprietary production process to decompose natural gas (i.e. methane) into its 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 focused on graphene enhanced heating, ventilation and air conditioning ("HVAC-R") coating (or energy-saving coating), lubricants and fluids.

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'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

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 Company's proposed business plans, expectations regarding the sale of Ordinary Shares under the ATM Facility, the proceeds from the ATM Facility, and the Company's proposed use of the proceeds from the ATM Facility.

Such forward-looking statements are based on a number of assumptions of management, including, without limitation, assumptions that the Company will receive the necessary regulatory approvals for the ATM Facility and that the Company will be able to use the proceeds from the ATM Facility as anticipated.

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: the risk that the Company is not able to use the proceeds from the ATM Facility as anticipated by management, the risk that the Company does not receive the requisite regulatory approvals for the ATM Facility, 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.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/212955

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, BC / ACCESSWIRE / June 12, 2024 / Commerce Resources Corp. (TSXV:CCE)(FSE:D7H0) (the "Company" or "Commerce") is pleased to announce a non-brokered private placement offering consisting of the issuance of up to 16,000,000 units (each, a "Unit") at a price of $0.126 per Unit for gross proceeds of up to $2,016,000 (the "Offering"). Each Unit will consist of one common share of the Company (each, a "Share") and one common share purchase warrant (each, a "Warrant"), with each Warrant entitling the holder to purchase one Share at a price of $0.25 per Share for a period of two (2) years from closing of the Offering (the "Closing").

Pursuant to a binding engagement agreement ("Term Sheet") entered into between Commerce and Churchill SIG Pty Ltd. ("Churchill"), Churchill will act as exclusive lead manager for the Offering, for a term of up to three (3) months, to introduce (the "Services") potential qualified subscribers to the Company in connection with a portion of the Offering (the "Churchill Portion"). Churchill will not provide the Services in Canada or for the benefit of Canadian residents, and any potential subscribers introduced by Churchill will not be residents of Canada.

As consideration for the Services, and upon completion of the Offering, the Company has agreed to pay Churchill a cash fee (the "Cash Fee") equal to 5% of the amount raised under the Offering from persons introduced by Churchill, and to issue such number of non-transferable share purchase warrants (the "Finder's Warrants") that equals 12.5% of the total number of Units issued to persons introduced by Churchill under the Offering. Each Finder's Warrant will entitle the holder to acquire one additional common share (a "Finder's Warrant Share") in the capital of the Company at a price of $0.20 per Finder's Warrant Share for a period of two (2) years from the date of issuance of the Finder's Warrants. The Company has also agreed to pay Churchill's reasonable fees and expenses in connection with the Services, up to $10,000. Churchill shall have a right of first refusal to act as lead manager in connection with any other equity offerings undertaken by the Company within a 12-month period following completion of the Offering. The Units, Shares, Warrants, Warrant Shares, Finder's Warrants and Finder's Warrant Shares are collectively referred to herein as the "Securities".

The Offering will be conducted pursuant to one or more prospectus exemptions available to the Company, including, without limitation, the "accredited investor" exemption set out in Section 2.3 of National Instrument 45-106 – Prospectus Exemptions and the prospectus exemption set out in BC Instrument 72-503 – Distribution of Securities Outside British Columbia.

In addition to the fee payable to Churchill in connection with any persons introduced by Churchill, the Company may pay finders' fees consisting of cash, securities or a combination thereof to other parties in connection with the persons introduced to Commerce by such other parties, all in accordance with the policies of the TSX Venture Exchange (the "Exchange").

All securities issued in connection with the Offering will be subject to a statutory hold period expiring four months and one day after closing of the Offering. Completion of the Offering is subject to the approval of the Exchange.

The net proceeds from the sale of the Offering will be used towards completion of the updated PEA for the Ashram REE/ Fluorspar Deposit and general working capital.

None of the securities sold in connection with the Offering will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Commerce Resources Corp.Commerce Resources Corp. is a junior mineral resource company focused on the development of the Ashram Rare Earth and Fluorspar Deposit located in Quebec, Canada. The Company is positioning to be one of the lowest cost rare earth producers globally, with a specific focus on being a long-term supplier of mixed rare earth carbonate and/or NdPr oxide to the global market. The Ashram Deposit is characterized by simple rare earth (monazite, bastnaesite, xenotime) and gangue (carbonates) mineralogy, a large tonnage resource at favourable grade, and has demonstrated the production of high-grade (>45% REO) mineral concentrates at high recovery (>70%) in line with active global producers. In addition to being one of the largest rare earth deposits globally, Ashram is also one of the largest fluorspar deposits globally and has the potential to be a long-term supplier to the met-spar and acid-spar markets.

For more information, please visit the corporate website at www.commerceresources.com or email info@commerceresources.com.

On Behalf of the Board of DirectorsCOMMERCE RESOURCES CORP.

"Chris Grove"Chris GrovePresident and DirectorTel: 604.484.2700Email: cgrove@commerceresources.comWeb: http://www.commerceresources.com

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

Cautionary Statement Regarding Forward-Looking Statements

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to the Services to be provided by Churchill, the expectations of management regarding the proposed Offering, the expectations of management regarding the use of proceeds of the Offering, closing conditions for the Offering, the expiry of hold periods for securities distributed pursuant to the Offering, that Exchange approval is required for the proposed Offering, that the Ashram deposit has the potential to become one of the largest fluorspar deposits and a long-term supplier to the mixed rare earth carbonate, NdPr oxide, and met-spar and acid-spar markets; and that the Company is positioning to be one of the lowest cost rare earth element producers globally. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements including that: the Company may not complete the Offering on terms favorable to the Company or at all; the Exchange may not approve the Offering; the proceeds of the Offering may not be used as stated in this news release; the Company may be unable to satisfy all of the conditions to the Closing; and those additional risks set out in the Company's public documents filed on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

SOURCE: Commerce Resources Corp.

View the original press release on accesswire.com

Most readers would already know that Teck Resources' (TSE:TECK.B) stock increased by 7.7% over the past three months. As most would know, long-term fundamentals have a strong correlation with market price movements, so we decided to look at the company's key financial indicators today to determine if they have any role to play in the recent price movement. Particularly, we will be paying attention to Teck Resources' 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. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.

See our latest analysis for Teck Resources

How Do You Calculate Return On Equity?

Return on equity can be calculated by using the formula:

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

So, based on the above formula, the ROE for Teck Resources is:

5.1% = CA$1.6b ÷ CA$31b (Based on the trailing twelve months to March 2024).

The 'return' is the amount earned after tax over the last twelve months. One way to conceptualize this is that for each CA$1 of shareholders' capital it has, the company made CA$0.05 in profit.

What Has ROE Got To Do With Earnings Growth?

So far, we've learned that ROE is a measure of a company's profitability. Depending on how much of these profits the company reinvests or "retains", and how effectively it does so, we are then able to assess a company’s earnings growth potential. Assuming everything else remains unchanged, the higher the ROE and profit retention, the higher the growth rate of a company compared to companies that don't necessarily bear these characteristics.

Teck Resources' Earnings Growth And 5.1% ROE

When you first look at it, Teck Resources' ROE doesn't look that attractive. We then compared the company's ROE to the broader industry and were disappointed to see that the ROE is lower than the industry average of 8.5%. Despite this, surprisingly, Teck Resources saw an exceptional 29% net income growth over the past five years. So, there might be other aspects that are positively influencing the company's earnings growth. For instance, the company has a low payout ratio or is being managed efficiently.

As a next step, we compared Teck Resources' net income growth with the industry and found that the company has a similar growth figure when compared with the industry average growth rate of 29% in the same period.

past-earnings-growth

Earnings growth is a huge factor in stock valuation. It’s important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). This then helps them determine if the stock is placed for a bright or bleak future. What is TECK.B worth today? The intrinsic value infographic in our free research report helps visualize whether TECK.B is currently mispriced by the market.

Is Teck Resources Efficiently Re-investing Its Profits?

Teck Resources has a really low three-year median payout ratio of 7.0%, meaning that it has the remaining 93% left over to reinvest into its business. So it looks like Teck Resources is reinvesting profits heavily to grow its business, which shows in its earnings growth.

Moreover, Teck Resources is determined to keep sharing its profits with shareholders which we infer from its long history of paying a dividend for at least ten years. Our latest analyst data shows that the future payout ratio of the company is expected to rise to 24% over the next three years. Regardless, the ROE is not expected to change much for the company despite the higher expected payout ratio.

Summary

In total, it does look like Teck Resources has some positive aspects to its business. Even in spite of the low rate of return, the company has posted impressive earnings growth as a result of reinvesting heavily into its business. That being so, according to the latest industry analyst forecasts, the company's earnings are expected to shrink in the future. Are these analysts expectations based on the broad expectations for the industry, or on the company's fundamentals? Click here to be taken to our analyst's forecasts page for the company.

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.

For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Eldorado Gold Corporation (EGO) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

Eldorado Gold Corporation is one of 241 individual stocks in the Basic Materials sector. Collectively, these companies sit at #6 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Eldorado Gold Corporation is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for EGO's full-year earnings has moved 64.7% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

According to our latest data, EGO has moved about 15.7% on a year-to-date basis. At the same time, Basic Materials stocks have lost an average of 2.7%. This shows that Eldorado Gold Corporation is outperforming its peers so far this year.

One other Basic Materials stock that has outperformed the sector so far this year is Southern Copper (SCCO). The stock is up 29.5% year-to-date.

The consensus estimate for Southern Copper's current year EPS has increased 22% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

To break things down more, Eldorado Gold Corporation belongs to the Mining – Gold industry, a group that includes 40 individual companies and currently sits at #26 in the Zacks Industry Rank. Stocks in this group have gained about 9.6% so far this year, so EGO is performing better this group in terms of year-to-date returns.

On the other hand, Southern Copper belongs to the Mining – Non Ferrous industry. This 12-stock industry is currently ranked #36. The industry has moved +23.7% year to date.

Going forward, investors interested in Basic Materials stocks should continue to pay close attention to Eldorado Gold Corporation and Southern Copper as they could maintain their solid performance.

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Written by Amy Legate-Wolfe at The Motley Fool Canada

When it comes to growth stocks, it can be hard to find a stable buy. A company that provides stable growth, dividends, and even more in its outlook. But that’s exactly what we’re looking at today. This dividend stock continues to surge towards all-time highs, with shares still up 45% from 52-week lows.

With that in mind, let’s take a look at why Teck Resources (TSX:TECK.B) is still an interesting buy, even as it nears those 52-week highs.

Earnings up

Teck stock is a diversified natural resources company with significant operations in copper, steelmaking coal, and zinc. The company’s stock has recently been trading near all-time highs, prompting investors to question whether it remains a good buy at these higher levels.

Still, Teck stock reported its latest quarterly earnings in April 2024, showcasing strong financial performance driven by robust demand and high prices for its core commodities. The company reported earnings of $1.56 per share, beating analysts’ expectations. This performance was underpinned by record revenues of $3.2 billion, representing a significant year-over-year increase. Teck’s copper production, in particular, saw a substantial boost due to higher prices and increased output from key mines.

What’s more, the share price of Teck Resources has reflected this strong performance, climbing steadily throughout the first half of 2024. Year to date, the stock has gained approximately 25%, significantly outperforming the broader market and the commodities sector index. This rise has brought Teck’s stock to all-time-week highs, sparking discussions about the sustainability of such valuations.

Looking ahead

The outlook for Teck Resources appears favourable, albeit with some cautionary notes. The global demand for copper is expected to remain strong, driven by the ongoing transition to renewable energy and electric vehicles, both of which are copper-intensive. Analysts project a continued tight supply-demand balance in the copper market, which bodes well for Teck’s revenue prospects.

In its steelmaking coal segment, Teck benefits from its position as one of the world’s leading producers. While coal markets are more volatile and subject to regulatory pressures related to environmental concerns, Teck’s high-quality metallurgical coal is essential for steel production, which remains critical to infrastructure and construction projects worldwide.

Furthermore, Teck stock’s zinc operations stand to gain from rising industrial activity and infrastructure spending, particularly in emerging markets. Zinc is a key material in galvanizing steel and in various industrial applications, supporting steady demand growth.

Bottom line

With shares up 45% and a dividend yield of 0.72%, there are enough reasons certainly to consider Teck stock. Teck Resources’s recent earnings performance and share price surge reflect strong operational execution and favourable market conditions for its key commodities. The outlook for copper and zinc remains robust, driven by structural demand trends in renewable energy and infrastructure.

However, the volatility of commodity markets and regulatory risks, particularly related to coal, warrant careful consideration. Yet, at current levels near all-time highs, potential investors should weigh the company’s solid fundamentals and growth prospects against the inherent risks in the commodity sector.

For long-term investors with a high-risk tolerance and a positive view on commodities, Teck stock could still represent a compelling buy. Meanwhile, those wary of market volatility and regulatory pressures might consider waiting for a more attractive entry point.

The post Up 45%, This Growth Stock Is Still a Top Buy appeared first on The Motley Fool Canada.

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2024

There's no doubt that money can be made by owning shares of unprofitable businesses. For example, although software-as-a-service business Salesforce.com lost money for years while it grew recurring revenue, if you held shares since 2005, you'd have done very well indeed. But the harsh reality is that very many loss making companies burn through all their cash and go bankrupt.

So, the natural question for Forsys Metals (TSE:FSY) shareholders is whether they should be concerned by its rate of cash burn. In this report, we will consider the company's annual negative free cash flow, henceforth referring to it as the 'cash burn'. First, we'll determine its cash runway by comparing its cash burn with its cash reserves.

View our latest analysis for Forsys Metals

How Long Is Forsys Metals' Cash Runway?

A company's cash runway is calculated by dividing its cash hoard by its cash burn. When Forsys Metals last reported its March 2024 balance sheet in May 2024, it had zero debt and cash worth CA$10m. Looking at the last year, the company burnt through CA$6.1m. So it had a cash runway of approximately 20 months from March 2024. That's not too bad, but it's fair to say the end of the cash runway is in sight, unless cash burn reduces drastically. The image below shows how its cash balance has been changing over the last few years.

debt-equity-history-analysisHow Is Forsys Metals' Cash Burn Changing Over Time?

Forsys Metals didn't record any revenue over the last year, indicating that it's an early stage company still developing its business. So while we can't look to sales to understand growth, we can look at how the cash burn is changing to understand how expenditure is trending over time. Over the last year its cash burn actually increased by a very significant 78%. While this spending increase is no doubt intended to drive growth, if the trend continues the company's cash runway will shrink very quickly. Forsys Metals makes us a little nervous due to its lack of substantial operating revenue. So we'd generally prefer stocks from this list of stocks that have analysts forecasting growth.

How Easily Can Forsys Metals Raise Cash?

While Forsys Metals does have a solid cash runway, its cash burn trajectory may have some shareholders thinking ahead to when the company may need to raise more cash. Companies can raise capital through either debt or equity. Many companies end up issuing new shares to fund future growth. By looking at a company's cash burn relative to its market capitalisation, we gain insight on how much shareholders would be diluted if the company needed to raise enough cash to cover another year's cash burn.

Since it has a market capitalisation of CA$178m, Forsys Metals' CA$6.1m in cash burn equates to about 3.5% of its market value. Given that is a rather small percentage, it would probably be really easy for the company to fund another year's growth by issuing some new shares to investors, or even by taking out a loan.

So, Should We Worry About Forsys Metals' Cash Burn?

Even though its increasing cash burn makes us a little nervous, we are compelled to mention that we thought Forsys Metals' cash burn relative to its market cap was relatively promising. Cash burning companies are always on the riskier side of things, but after considering all of the factors discussed in this short piece, we're not too worried about its rate of cash burn. Readers need to have a sound understanding of business risks before investing in a stock, and we've spotted 2 warning signs for Forsys Metals that potential shareholders should take into account before putting money into a stock.

Of course Forsys Metals may not be the best stock to buy. 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.

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.

While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.

Is This 1 Momentum Stock a Screaming Buy Right Now?

Different than value or growth investors, momentum-oriented investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.

Freeport-McMoRan (FCX)

Based in Phoenix, AZ, Freeport-McMoRan Inc., formerly Freeport-McMoRan Copper & Gold Inc., is engaged in mineral exploration and development; mining and milling of copper, gold, molybdenum and silver; as well as the smelting and refining of copper concentrates. The company conducts its operations primarily through its principal operating subsidiaries, PT Freeport Indonesia (PT-FI), Freeport Minerals Corporation and Atlantic Copper. PT Freeport Indonesia’s principal asset is Papua, Indonesia-based Grasberg mine, which contains the world’s largest copper and gold reserves.

FCX sits at a Zacks Rank #3 (Hold), holds a Momentum Style Score of A, and has a VGM Score of B. The stock is down 2% and up 0.3% over the past one-week and four-week period, respectively, and Freeport-McMoRan has gained 35.4% in the last one-year period as well. Additionally, an average of 14,748,760 shares were traded over the last 20 trading sessions.

Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. Five analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.16 to $1.71 per share. FCX boasts an average earnings surprise of 23.5%.

FCX should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.

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

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VANCOUVER, BC / ACCESSWIRE / June 6, 2024 / Commerce Resources Corp. (TSXV:CCE)(FSE:D7H0) (the "Company" or "Commerce") is pleased to announce a non-brokered private placement offering of up to 28,000,000 charity flow-through units (each, a "FT Unit") at a price of $0.18 per FT Unit for aggregate gross proceeds of up to $5,040,000 (the "Offering"). Each FT Unit will be comprised of one common share in the capital of the Company (each, a "FT Share") and one transferable share purchase warrant (each, a "Warrant"). Each Warrant shall entitle the holder to receive one non-flow-through common share in the capital of the Company (each, a "Warrant Share") at a price of $0.25 per Warrant Share at any time before the date that is two (2) years following the date of issuance. The FT Units are being issued pursuant to a charity arrangement structured by Peartree Securities Inc.

The Company also announces that it has entered into an agreement ("Term Sheet") with Churchill SIG Pty Ltd. ("Churchill"), whereby Churchill will act as lead manager, for a term of up to three (3) months, to introduce potential qualified subscribers (the "Services") to the Company in connection with the Offering. Churchill will not provide the Services in Canada or for the benefit of Canadian residents, and any potential subscribers introduced by Churchill will not be residents of Canada.

As consideration for the Services, and upon completion of the Offering, the Company has agreed to pay Churchill a cash fee (the "Cash Fee") equal to 5% of the amount raised under the Offering from persons introduced by Churchill, and to issue such number of non-transferable share purchase warrants (the "Finder's Warrants") that equals 12.5% of the total number of FT Units issued to persons introduced by Churchill under the Offering. Each Finder's Warrant will entitle the holder to acquire one common share (a "Finder's Warrant Share") in the capital of the Company at a price of $0.20 per Finder's Warrant Share for a period of two (2) years from the date of issuance of the Finder's Warrants. The Company has also agreed to pay for Churchill's reasonable fees and expenses in connection with the Services, up to $10,000. Churchill shall have a right of first refusal to act as lead manager in connection with any other equity offerings undertaken by the Company within a 12-month period following completion of the Offering. The FT Units, FT Shares, Warrants, Warrant Shares, Finder's Warrants and Finder's Warrant Shares are collectively referred to herein as the "Securities".

The Offering will be conducted pursuant to one or more prospectus exemptions available to the Company, including, without limitation, the "accredited investor" exemption set out in Section 2.3 of National Instrument 45-106 – Prospectus Exemptions and the prospectus exemption set out in BC Instrument 72-503 – Distribution of Securities Outside British Columbia.

In addition to the fee payable to Churchill in connection with investors introduced to the Company by Churchill, the Company may pay finders' fees consisting of cash, securities or a combination thereof to other parties in connection with the Offering, all in accordance with the policies of the TSX Venture Exchange (the "Exchange").

The Offering is expected to close on or about June 18, 2024, or on any other date or dates as the Company may determine, and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the acceptance of the Exchange. The Securities, and the underlying securities, will be subject to a hold period of four months and one day from the date of closing.

Certain insiders of the Company are anticipated to participate in the Offering, and the participation of insiders will be considered a related party transaction subject to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company intends to rely on exemptions from the formal valuation and minority shareholder approval requirements provided under subsections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that participation in the Offering by insiders will not exceed 25% of the Company's market capitalization.

The FT Shares will qualify as "flow-through shares" (within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the "Tax Act"). An amount equal to the gross proceeds from the issuance of the FT Units will be used to incur eligible resource exploration expenses which will qualify as "Canadian exploration expenses" (as defined in the Tax Act). Qualifying Expenditures in an aggregate amount not less than the gross proceeds raised from the issue of the FT Units will be incurred (or deemed to be incurred) by the Company on or before December 31, 2025 and will be renounced by the Company to the initial purchasers of the FT Shares with an effective date no later than December 31, 2024. The gross proceeds from the sale of the FT Units will be used to underwrite the upcoming drilling program for the niobium targets on the claims owned by the Company in Nunavik, Quebec.

None of the securities sold in connection with the Offering will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Commerce Resources Corp.Commerce Resources Corp. is a junior mineral resource company focused on the development of the Ashram Rare Earth and Fluorspar Deposit located in Quebec, Canada. The Company is positioning to be one of the lowest cost rare earth producers globally, with a specific focus on being a long-term supplier of mixed rare earth carbonate and/or NdPr oxide to the global market. The Ashram Deposit is characterized by simple rare earth (monazite, bastnaesite, xenotime) and gangue (carbonates) mineralogy, a large tonnage resource at favourable grade, and has demonstrated the production of high-grade (>45% REO) mineral concentrates at high recovery (>70%) in line with active global producers. In addition to being one of the largest rare earth deposits globally, Ashram is also one of the largest fluorspar deposits globally and has the potential to be a long-term supplier to the met-spar and acid-spar markets.

For more information, please visit the corporate website at www.commerceresources.com or email info@commerceresources.com.

On Behalf of the Board of Directors

COMMERCE RESOURCES CORP.

"Chris Grove"

Chris GrovePresident and DirectorTel: 604.484.2700Email: cgrove@commerceresources.comWeb: http://www.commerceresources.com

ACCESSWIRE | Article Logo

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

Cautionary Statement Regarding Forward-Looking StatementsThis news release includes certain "forward-looking statements" under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to the Services to be provided by Churchill, the expectations of management regarding the proposed Offering, the expectations of management regarding the use of proceeds of the Offering, closing conditions for the Offering, the expiry of hold periods for securities distributed pursuant to the Offering, that Exchange approval is required for the proposed Offering, that the Ashram deposit has the potential to become one of the largest fluorspar deposits and a long-term supplier to the mixed rare earth carbonate, NdPr oxide, and met-spar and acid-spar markets; and that the Company is positioning to be one of the lowest cost rare earth element producers globally. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements including that: the Company may not complete the Offering on terms favorable to the Company or at all; the Exchange may not approve the Offering; the proceeds of the Offering may not be used as stated in this news release; the Company may be unable to satisfy all of the conditions to the Closing; and those additional risks set out in the Company's public documents filed on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

SOURCE: Commerce Resources Corp.

View the original press release on accesswire.com

SANTIAGO (Reuters) – Mining giant BHP and the union representing workers at its Spence copper mine in Chile will kick off on Wednesday government-mediated talks aimed at averting a strike, both parties said.

BHP activated a mandatory five-day period of government mediation, typical of such labor talks in Chile, after union members massively rejected a new contract offer from the company earlier this week, paving the way for a strike.

"We will meet in a couple of hours to start the mandatory mediation after BHP requested that," union head Ronald Salcedo told Reuters. "The talks will last five business days, so we can try and reach an agreement. If not, the strike begins next Wednesday."

The union represents more than 1,100 workers at the copper mine located in northern Chile. Their previous collective agreement expired on May 31.

BHP said that the Spence mine, which produced 249,000 metric tons of copper last year, continues to operate normally while it seeks an amicable solution with the union.

After the initial five-day period, the parties can agree to extend the talks for another five days if they make progress in reaching an agreement.

Chile is the world's largest copper producer.

(Reporting by Fabian Andres Cambero; Editing by Mark Potter)

Freeport-McMoRan (FCX) closed at $50.49 in the latest trading session, marking a +1.59% move from the prior day. This move outpaced the S&P 500's daily gain of 1.19%. Elsewhere, the Dow saw an upswing of 0.25%, while the tech-heavy Nasdaq appreciated by 1.96%.

Shares of the mining company witnessed a loss of 3.29% over the previous month, trailing the performance of the Basic Materials sector with its loss of 0.08% and the S&P 500's gain of 3.35%.

Analysts and investors alike will be keeping a close eye on the performance of Freeport-McMoRan in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.45, showcasing a 28.57% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $6.01 billion, showing a 4.76% escalation compared to the year-ago quarter.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.66 per share and a revenue of $25 billion, representing changes of +7.79% and +9.37%, respectively, from the prior year.

Investors should also take note of any recent adjustments to analyst estimates for Freeport-McMoRan. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.08% downward. At present, Freeport-McMoRan boasts a Zacks Rank of #3 (Hold).

Digging into valuation, Freeport-McMoRan currently has a Forward P/E ratio of 29.91. Its industry sports an average Forward P/E of 16.18, so one might conclude that Freeport-McMoRan is trading at a premium comparatively.

Investors should also note that FCX has a PEG ratio of 2.63 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Mining – Non Ferrous industry held an average PEG ratio of 0.8.

The Mining – Non Ferrous industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 27, finds itself in the top 11% echelons of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

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(Bloomberg) — Days after BHP Group failed to secure the $49 billion takeover of smaller rival Anglo American Plc, investors have one message for Chief Executive Mike Henry — keep your cool.

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BHP argues it showed restraint in the battle for Anglo, a welcome attribute in a sector notorious for burning billions of dollars of on underwhelming projects and ill-timed acquisitions just over a decade ago. The question now is whether that discipline holds, even with all mining bosses gunning for more volume in copper, the single most coveted metal as the energy transition accelerates.

The Anglo tilt was an ambitious bid to transform the world’s largest miner into the top global producer of the red metal in one fell swoop. Having faltered, people familiar with the matter say BHP won’t rush into more — at least in part because there are few alternatives when it comes to copper. Major deposits are increasingly rare and costly to develop, while the most obvious acquisition targets are effectively out of reach, either because of ownership or valuation.

Anglo comes back into view in six months time under UK Takeover Panel rules, and BHP will wait until then and reconsider its options, said the people, who declined to be named as the discussions are not public.

“What is in BHP’s portfolio is going to take time to deliver and it’s not going to be cheap. That was one of the reasons why they saw an opportunity in Anglo to take their interest in three key assets in Chile,” said David Radclyffe, managing director at Global Mining Research. “Copper is one of those commodities everyone wants to be in, the problem being there aren’t many of those assets and it’s incredibly hard to deliver them.”

The battle over the past weeks has mesmerized the mining sector. A tussle between two of the industry’s largest players, it would have been the most significant tie-up in over a decade — and one of the most complex to boot. Under BHP’s all-share proposals, Anglo would have had to spin off its South African platinum and iron ore assets, before then being purchased by the Australian mining giant.

Anglo’s board rejected the repeated offers, and opted instead for its own turnaround plan.

Read more: CEO Who Said No to $49 Billion Must Now Dismantle Anglo American

That makes the next six months — and beyond, given the intricacy of Anglo’s plan — crucial. If the rescue blueprint falters, the company may be back on the table at a lower price. If it succeeds, Anglo may end up closer to the copper-focused company BHP had sought in the first place.

BHP’s Australian shares have dropped 1.8% since May 28, the day before the miner said it would walk away from the Anglo bid.

Rival Suitors

The trouble for BHP is that down the line other bidders could also step in, including rivals Rio Tinto Ltd., and Glencore Plc. Neither is perfectly positioned today, but both may well be later this year, as investors and executives warm to the idea of deals and Glencore completes its acquisition of Teck’s steelmaking coal business. All are eager to bump up copper production.

Industry bankers and executives have reviewed deals centered on the industrial metal for years, running the rule over copper-heavy like Antofagasta Plc, First Quantum Minerals Ltd and Freeport-McMoRan Inc — but either family owners or expensive valuations have held back approaches, especially in an industry where shareholders remember past profligacy only too well.

“There has been a longer-term positioning by BHP to do more acquisitions, but does that necessarily mean that sort of gives them a blank check to go and do acquisitions at elevated premiums? I don’t think so,” RBC Capital Markets analyst Kaan Peker said.

BHP’s scale, of course, means it does have options of its own. Iron ore remains a cash cow, and its $3.6 billion South Flank iron ore project expansion is on track to reach full production this year — good news even if concerns are growing about the longer-term demand prospects for the steelmaking material.

Its copper portfolio is also substantial, with its massive mines in Chile — including Escondida, the world’s biggest — and Australia churning out more than 1.2 million tons a year. BHP is expanding exploration across the Oak Dam project and drilling at Olympic Dam in South Australia, with its mineral resource estimate expected to be expanded later this calendar year.

But over the coming months, copper deals are unlikely to be far from executives’ minds.

“They’ve clearly shown their hand and basically confirmed what a lot of people have been saying, what companies themselves are saying,” said Sam Berridge, portfolio manager at Perennial Value Management Ltd., which doesn’t hold BHP because it’s negative about long-term iron ore demand.

The cost and the time it takes to build copper projects from scratch are simply too off-putting, Berridge said: “The hurdles there are so high that M&A is a much more appealing option.”

–With assistance from Martin Ritchie.

(Updates with shares in ninth paragraph)

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Rio Tinto RIO announced that it will invest $143 million to develop a research and development facility in Western Australia to test the effectiveness of its breakthrough low-carbon ironmaking process, BioIron.

BioIron uses raw biomass material produced from agricultural by-products instead of metallurgical coal and is heated using a combination of gas released by the biomass and high-efficiency microwaves powered by renewable energy, which turns the iron ore into metallic iron. This process uses approximately 65% less electricity during steel making compared with other green hydrogen technologies.

Per Rio Tinto’s projections, when combined with renewable energy and carbon-circulation by fast-growing biomass, BioIron has the potential to reduce carbon dioxide emissions by up to 95% compared with the current blast furnace method.

The initiative to build the research and development facility follows successful trials of BioIron in a small-scale pilot plant in Germany. The new facility will include a pilot plant that will be 10 times the size of the German plant and capable of producing one ton of direct reduced iron per hour. The BioIron process will be tested for the first time at a semi-industrial scale. The plant will provide the required data to assess further scaling of the technology to a larger demonstration plant.

The plant has been designed in collaboration with the University of Nottingham, Metso Corporation and Western Australian engineering company Sedgman Onyx. Fabrication of the equipment is set to begin this year, with commissioning expected in 2026.

Industry-Wide Efforts to Lower Emissions

Steelmaking is responsible for around 8% of the world’s carbon emissions. Most of these emissions are created during the industrial process of transforming the raw material, iron ore into steel. Miners, through individual research and partnerships, are working on developing technologies and solutions to reduce the greenhouse gas (GHG) emission intensity of the steelmaking process.

Steelmaking accounts for 66% of Rio Tinto’s Scope 3 emissions. It has targeted reductions in Scope 1 and 2 carbon emissions of 15% by 2025 and 50% by 2030, relative to 2018 levels. The company expects to achieve net zero emissions from its operations by 2050.

In 2023, RIO achieved a 5.5% reduction in Scope 1 and 2 GHG emissions, which was below its 2018 baseline. The company spent $425 million on decarbonization efforts in 2023. It has budgeted a total capital spending of $5–$6 billion over the 2022–2030 period, including $1.5 billion cumulative spending over the 2024–2026 period.

Rio Tinto’s peer Fortescue Ltd FSUGY has set a target to reach net zero Scope 3 emissions by 2040. The steelmaking process is the largest source of its Scope 3 emissions, accounting for 98% of emissions.

Fortescue has identified solutions to eliminate approximately 90% of its carbon dioxide equivalent terrestrial emissions associated with its Australian iron operations by 2030. In September 2022, the company committed $6.2 billion to achieve this plan.

Another big miner, BHP Group BHP is also pursuing its long-term goal of net zero Scope 3 GHG emissions by 2050. The company expects to cut down operational GHG emissions by at least 30% from 2020 levels by 2030.

In fiscal 2023, BHP spent $122 million on initiatives associated with emission reductions, in areas such as steelmaking and shipping. From fiscal 2024-2030, BHP expects to spend around $4 billion on operational decarbonization, with plans reflecting an annual capital allocation between approximately $250 million and $950 million per year over the next five years.

Another iron miner, VALE S.A VALE plans to invest at least $2 billion to reduce its direct and indirect carbon emissions (Scopes 1 and 2) by 33% by 2030 compared with its emissions in 2017. It will also help reduce its suppliers’ emissions (Scope 3) by 15% by 2035 compared with the emission level in 2018. Vale aims to become carbon neutral by 2050.

Price Performance & Zacks Rank

In the past year, shares of Rio Tinto have gained 10.4% compared with the industry’s 15.8% growth.

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Rio Tinto currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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For Immediate Release

Chicago, IL – June 4, 2024 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: BHP Group BHP, Anglo American AAL, Vistra VST, Tyler Technologies TYL and Barrick Gold GOLD.

Here are highlights from Monday’s Analyst Blog:

A.I. Reshapes Corporate America: Global Week Ahead

The start of a new calendar month can mean only one thing for investors: Time for the all-important monthly U.S. employment report.

But also, this time around? Look out for a likely European Central Bank (ECB) rate cut.

As well as the outcome of India's marathon general election.

Next are Reuters' five world market themes, re-ordered for equity traders—

(1) On Friday, traders get to see the MAY U.S. non-farm payroll report.

Is the U.S. economy finally cooling?

It will take several months of data to answer that question. But one key piece of the puzzle comes with the closely watched employment report out on Friday, June 7th.

Investors had been worried that an overly strong economy might prevent the U.S. Federal Reserve from lowering rates this year at all, or even require a rate rise.

But those concerns were put to rest last month, albeit temporarily, by data showing slowing inflation and a cooling labor market.

Still, policymakers have urged patience on rate cuts, saying they would like to see several months of data to be sure inflation is heading back towards their +2.0% target.

The MAY employment report could prove the U.S. economy is losing steam, if it shows the slowdown in job creation has continued.

(2) On Thursday, the European Central Bank (ECB) should cut its policy rate.

The ECB is all but certain to become the first major central bank to cut interest rates this cycle on Thursday.

Policymakers have practically promised a June cut that is expected to lower the bank's key rate by 25 basis points to 3.75%.

So, all focus will be on what hints ECB boss Christine Lagarde gives on what happens next.

Inflation in the bloc's dominant services sector remains sticky and its economy is recovering faster than expected, while a closely-watched wage growth figure accelerated last quarter, leaving the outlook beyond June less certain.

Traders are still much more confident that the ECB will cut rates multiple times this year compared to its U.S. and British peers, though they have also reduced their bets on its moves.

They now expect two cuts and less than a 50% chance of a third — compared with three when the ECB last met and at least five at the start of the year.

(3) A revival in U.K. Mergers & Acquisitions is happening.

BHP Group may have failed in its bid for Anglo American, taking $49 billion out of bankers' league tables. But the emergence of the bid in April highlights a revival in U.K. M&A.

April saw 38 companies in the U.K. under offer, the most since June 2022, according to Peel Hunt. Take one away and that high-water mark doesn't change.

Bankers pinpoint that it's companies driving the charge, and they expect more U.K. deals, as the interest rate outlook and economic backdrop stabilize and competition from private equity funds for assets is still muted.

Driving the inbound interest is the persistent cheapness of U.K. assets.

The FTSE 100 12-month forward price-to-earnings ratio continues to trade at the widest discount to the S&P500's since at least 1990, and lags the performance in the pan-European STOXX 600 and Germany's DAX.

(4) In the USA, summer vacation driving season has begun. Gasoline prices?

The oil market is entering into a sweet spot in the year — the summer driving season in the United States.

The price of crude is up +10% year-on-year, and intensifying Middle East tensions are keeping the market nervous.

Meanwhile, gasoline futures have fallen by -7%, offering a potential boon to customers at the pump.

But, U.S. gasoline inventories aren't declining as quickly as they ordinarily would at this time of year, which suggests consumption isn't quite hot enough to put a dent into supply.

A measure of demand for immediate delivery of crude is also around its lowest since December.

A lot is riding on the outlook for growth and, therefore, demand for fuel.

The world's biggest oil exporters are expected to maintain their existing supply cuts at an OPEC meeting on June 2nd.

(5) India counts votes on Tuesday, June 4th. Mexico headed to the polls Sunday.

India's six-week long national election is in its final stages, with votes due to be counted on June 4th.

Exit polls, out on Sunday June 3rd, were confirming Modi's win. So, investors should be gearing up for Prime Minister Narendra Modi securing a third term in office.

Markets see a Modi win as providing political stability and continuity in India to support sustained economic growth. Indian equities outperformed most major markets in 2023 and are already trading at lofty valuations.

They could get another boost if Modi remains in power, even as part of a coalition government.

Mexicans also went to the polls on Sunday June 3rd. Former Mexico City Mayor Claudia Sheinbaum won by at least 30 percentage points in Mexico's presidential election.

The Mexican peso has sold off heavily in the past week, as traders ponder the uncertainty for the Mexican economy, stemming from the vote.

Zacks #1 Rank (STRONG BUY) Stocks

This week, I picked two Texas-based large cap stocks, and one Canadian gold miner.

(1) Vistra: This is a $105 stock, found in the U.S. Electric Power Utility Industry, with a market capitalization of $36B. I see a Zacks Value score of C, a Zacks Growth score of B and a Zacks Momentum score of B.

Vistra Energy Corp. is an energy company. It offers electricity and power generation, distribution and transmission solutions. Vistra is based in Dallas, Texas.

(2) Tyler Technologies: This is a $477 stock, found in the U.S. Business Software Services Info Tech Industry, with a market capitalization of $20.2B. I see a Zacks Value score of F, a Zacks Growth score of C and a Zacks Momentum score of B.

Tyler Technologies is a leading provider of integrated information-management solutions and services for the public sector.

Clients consist primarily of federal, state, county and municipal agencies, school districts, and other local government offices.

·        In counties, clients include the auditor, treasurer, tax assessor/collector, county clerk, district clerk, county and district court judges, probation officers, sheriff and county appraiser.

·        At municipal government sites, clients include directors of various departments, including administration, finance, utilities, public works, code enforcement, personnel, purchasing, taxation, municipal court and police.

The company's software solutions & services are grouped into the following areas:

1.     Financial Management and Education

2.     Courts and Justice

3.     Public Safety

4.     Property Appraisal and Tax

5.     Planning, Regulatory and Maintenance

6.     Land and Vital Records Management

7.     Data and Insights, and

8.     Case Management and Business Process Management

Tyler serves its customers both on-premise and in cloud.

By leveraging Tyler private cloud, the company delivers its applications through Software-as-a-Service ("SaaS") model. In October 2019, the company entered into a partnership agreement with Amazon Web Services for cloud-hosting services.

Tyler reported revenues of $1.95 billion in 2023.

The Plano, TX-based company derives revenues from six sources: (i) Sales of software licenses and royalties, (ii) Subscription-based arrangements, (iii) Software services, (iv) Maintenance and support (v) Appraisal services, and (vi) Hardware and other.

Subscription-based revenues are primarily derived from Tyler's SaaS arrangements, as well as transaction-based offerings such as e-filing solutions, online dispute resolution solutions, and online payment services.

Moreover, client-support services comprise a significant base of recurring maintenance revenues. During 2023, approximately 24% of Tyler's revenues were attributable to ongoing support and maintenance agreements.

Tyler faces competition from Oracle, Infor, SAP AG, Workday, CentralSquare, Thomson Reuters, Motorola Solutions and Axon Enterprise.

(3) Barrick Gold: This is a $17 stock, found in the Basic Materials – Gold Mining Industry, with a market capitalization of $29.7B. I see a Zacks Value score of B, a Zacks Growth score of C and a Zacks Momentum score of A.

Barrick Gold, based in Toronto, Canada, is one of the largest gold mining companies in the world.

The company has many advanced exploration and development projects located across five continents.

Barrick is placed amongst the top gold producers with peers, such as Newmont (based in the United States) and AngloGold Ashanti (based in South Africa).

The company produced 4.05 million ounces of gold and 420 million pounds of copper in 2023. Barrick had 77 million ounces (oz) of proven and probable gold reserves at the end of 2023. The company generated total revenues of roughly $11.4 billion in 2023.

The company's strategy to create value for its shareholders is focused on the following key areas:

·        Maximizing the benefits of rising metal prices by meeting operational and financial targets

·        Increasing gold and copper reserves and production through exploration and selective acquisitions

·        Maximizing the value of its existing mines and properties by leveraging its expertise and regional infrastructure

·        Growing production by investing in and developing high return projects

·        Continuing to improve corporate social responsibility practices to maintain and strengthen its incense to operate

By executing on this strategy, the company expects to increase earnings and cash flow and enhance its shareholders' leverage to metal prices.

In September 2018, Barrick entered into a share-for-share merger agreement with Randgold Resources Ltd. The merger was successfully completed on Jan 1, 2019. The deal formed an industry-leading gold company and strengthened Barrick's position.

Post-merger, Barrick has the ability to generate strong cash flow to support robust investment and return cash to shareholders.

Higher operating metrics, including lowest total cash cost position as well as highest adjusted EBITDA margin are likely to support sustainable investment in growth and shareholder returns.

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

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Investors looking for stocks in the Mining – Non Ferrous sector might want to consider either Lundin Mining (LUNMF) or Freeport-McMoRan (FCX). But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.

The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scores highlight companies with specific traits.

Lundin Mining has a Zacks Rank of #2 (Buy), while Freeport-McMoRan has a Zacks Rank of #3 (Hold) right now. The Zacks Rank favors stocks that have recently seen positive revisions to their earnings estimates, so investors should rest assured that LUNMF has an improving earnings outlook. However, value investors will care about much more than just this.

Value investors also tend to look at a number of traditional, tried-and-true figures to help them find stocks that they believe are undervalued at their current share price levels.

The Value category of the Style Scores system identifies undervalued companies by looking at a number of key metrics. These include the long-favored P/E ratio, P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that help us determine a company's fair value.

LUNMF currently has a forward P/E ratio of 14.26, while FCX has a forward P/E of 31.32. We also note that LUNMF has a PEG ratio of 0.29. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. FCX currently has a PEG ratio of 2.75.

Another notable valuation metric for LUNMF is its P/B ratio of 1.38. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. For comparison, FCX has a P/B of 2.66.

Based on these metrics and many more, LUNMF holds a Value grade of A, while FCX has a Value grade of C.

LUNMF stands above FCX thanks to its solid earnings outlook, and based on these valuation figures, we also feel that LUNMF is the superior value option right now.

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(Bloomberg) — De Beers will ditch a controversial experiment to sell lab grown diamond jewelry, ending a six-year program that broke one of its oldest taboos.

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While the company long held the technology to make synthetic gems, it always refused to sell them as jewelry, fearing they would undercut the allure of natural stones. Yet as man-made stones gained traction and started competing directly with natural diamonds, De Beers launched its own jewelry brand in 2018.

The company introduced Lightbox to sell synthetic diamonds at a steep discount to rival producers in an attempt to drag prices lower and create a clear divide in consumers’ minds. Now it’s pulling that offering, as De Beers Chief Executive Officer Al Cook overhauls a business that’s set to be cast adrift by owner Anglo American Plc.

As part of a turnaround plan to fend off an approach from BHP Group, Anglo last month said it planned to sell or separate De Beers, ending an almost century-long relationship with the industry’s most famous name. As De Beers — which coined the slogan “Diamonds are Forever” — prepares for that split, it will renew its focus on promoting natural stones.

“We know how to do it and we’re coming back,” CEO Cook said in an interview. “All of this comes together under a big theme of differentiating natural diamonds from lab grown.”

Read More: CEO Who Said No to $49 Billion Must Now Dismantle Anglo American

Synthetic diamond prices have now collapsed, though how much of that is down to De Beers and how much is because of a flood of new supply is open to debate. That undermines the logic for the De Beers venture, with wholesale prices of lab grown diamonds now lower than those of Lightbox, which were well below the going rate when first introduced.

Still, while synthetic diamond prices have collapsed, they’ve caused significant collateral damage. Natural stones used in cheaper 1 to 2 carat wedding rings have tumbled under pressure from synthetics and have so far shown little sign of a sustained recovery.

De Beers will not immediately stop selling its Lightbox stones. It will use up its existing inventory — which will take about a year — and then make a decision on what to do with the business.

Industry participants are still divided on what the long-term impact of synthetics will be and how much of the current diamond industry weakness is cyclical, rather than a structural change, partly brought about by lab-grown alternatives.

Unlike imitation gems such as cubic zirconia, diamonds grown in labs have the same physical characteristics and chemical makeup as mined stones. They’re made from a carbon seed placed in a microwave chamber and superheated into a glowing plasma ball. The process creates particles that can eventually crystallize into diamonds. The technology is so advanced that experts need a machine to distinguish between synthesized and mined gems.

Read More: Anglo Ditching De Beers Is Hard Blow for Troubled Diamond Market

De Beers will turn its focus on so-called category marketing, where it promotes diamond jewelry in general rather than just its own branded gems. It will also expand its retail footprint through its own jewelry stores.

The company will also dip its toe into polishing its own stones, part of the industry dominated by mostly family run firms in India and Belgium.

De Beers is targeting annual core profit of $1.5 billion by 2028. Last year, the business made just $72 million, though traditionally its profits have ranged between $500 million and $1.5 billion as the diamond industry swings from boom to bust.

That volatility created frustration within Anglo, where years of erratic performance eroded returns from more coveted commodities, such as copper.

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BHP Group Limited

SASKATOON, Saskatchewan, June 03, 2024 (GLOBE NEWSWIRE) — Royal University Hospital Foundation and BHP are pleased to announce a $1 million donation from BHP that will transform the way the most utilized diagnostic procedure – X-ray imaging — is done at Royal University Hospital (RUH).

BHP’s donation to Royal University Hospital Foundation to fund new state-of-the-art digital technology for RUH’s two busiest X-ray suites will replace outdated computer and lengthier cassette-based processes in use for almost 20 years at the hospital. As a result, medical teams throughout RUH will have instant access to higher-quality images allowing for quicker decision-making and implementation of treatment plans.

“BHP is honoured to help bring new state-of-the-art X-ray technology to RUH to support advanced care and ultimately save lives in the province,” says Karina Gistelinck, BHP’s Asset President Potash. “There is nothing more important than the health of our families and loved ones. We are proud to be part of the Saskatchewan community and to play a role in supporting the health and wellness of the broader community.”

The provincial government welcomes BHP’s contribution in supporting equipment replacement for the X-ray suites at RUH.

“On behalf of the Government of Saskatchewan, I want to extend our thanks and gratitude to BHP for their generous donation that will help modernize the X-ray suites at the Royal University Hospital and will greatly benefit patients,” says Health Minister Everett Hindley. “Thank you also to the Royal University Hospital Foundation for their long-standing commitment and fundraising efforts to support medical excellence and advancements in care for patients at our province’s largest hospital. Announcements like this demonstrate the importance of a growing and prosperous economy that is able to support investment into essential services like health care.”

Annually, RUH’s General X-ray Department sees 68,000 patients and performs approximately 81,000 exams in its three X-ray rooms, which includes the two being upgraded through the support of BHP. X-rays are often the initial diagnostic resource requested by medical teams to help them assess, guide treatment, and monitor progress for a range of illnesses and injuries, for example, associated with emergency and trauma cases to planned orthopedic and various cancer surgeries.

“BHP’s generous gift will improve RUH’s X-ray imaging to produce higher quality images while using a reduced dose of radiation making the environment safer for both patients and medical teams,” says Bryan Witt, Vice President of Clinical and Support Services for the Saskatchewan Health Authority (SHA). “Better image quality leads to a more accurate diagnosis resulting in more timely and effective treatment.”

Royal University Hospital Foundation is extremely thankful to BHP for its generous gift and its commitment to advancing patient care excellence at RUH.

“We are very fortunate to have a community partner like BHP whose generosity is so important in keeping the province’s largest clinical, teaching, and research hospital at the forefront of modern medicine in Saskatchewan,” says Jennifer Molloy, CEO, Royal University Hospital Foundation. “With the support of donors like BHP, we are helping ensure patients with the most life-threatening illnesses and injuries receive the best specialized and complex life-saving care available in the province while at RUH.”

The refurbished X-ray suites are expected to be operational later this year. In recognition of BHP’s generosity, RUH’s medical imaging area is being named “BHP Medical Imaging Centre.”

(Editors: Please see next page for corporate and media contact information)

ABOUT ROYAL UNIVERSITY HOSPITAL FOUNDATIONRoyal University Hospital Foundation, located in Saskatoon, Saskatchewan, is the philanthropic bridge between the community and Royal University Hospital, the largest clinical, teaching and research hospital in the province. RUH Foundation, a registered charity, and its donors provide RUH with the additional resources it needs to advance patient care innovation and excellence in order to provide life-saving care to the most sick and injured from across Saskatchewan. Further information on RUH Foundation can be found at ruhf.org

ABOUT BHPBHP is a global resources company with its Canadian operational headquarters in Saskatoon, Saskatchewan, and global business development headquarters in Toronto. BHP has a global workforce of approximately 80,000 people working in locations across Canada, Australia, Asia, the UK, US and Latin America. BHP produces commodities essential for global decarbonisation, economic development, and food security including copper, nickel, iron ore, metallurgical coal and is developing the Jansen potash project in Saskatchewan, Canada. Further information on BHP can be found at bhp.com

MEDIA INQUIRIESRoyal University Hospital FoundationDaryl OshanekSenior Communications Officer306-655-0628daryl.oshanek@ruhf.org

BHPMegan HjulforsMedia RelationsBHP403-605-2314