(Bloomberg) — Copper, aluminum and nickel erased early gains to resume their slide as the global energy crisis and growing concerns about global growth continue to roil the industry.
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The energy crunch, fueled by record coal and gas costs, has forced metal output cuts from China to Europe, depleting inventories, while suppliers such as copper mining giant Freeport-McMoRan Inc. are producing less metal than the market expected, adding to concerns of a tight market.
While tight markets traditionally support base metal prices, investors are now putting more weight on how soaring costs might hurt global growth. On the energy front, dwindling crude stockpiles could signal more reductions ahead for markets. President Joe Biden has warned gas prices will stay high this year, Europe’s leaders are bickering over power supplies, and Beijing is battling to secure winter fuel “at all costs.”
The London Metal Exchange’s index of metals prices has retreated from last week’s record high, driven by mounting demand concerns and worries around China Evergrande Group. While the indebted real-estate developer’s cash crisis has created a threat to the Chinese economy, market sentiment improved Friday as Evergrande staved off default.
Copper on the London Metal Exchange slid 1.3% to settle at $9,740 a metric ton 5:51 p.m. London time, and is down 5.6% for the week. Nickel and aluminum also retreated, while lead, tin and zinc rose.
Meanwhile, supply remains under pressure, especially in China. The country’s Jiangxi province started power rationing to industrial sectors including steel, aluminum and copper, according to researcher Mysteel. The southern province, a major producer of refined copper and copper products, is the latest to battle a power shortage that could worsen in winter heating season.
Chinese provinces have been rushing to meet annual energy intensity reduction goals by shutting plants. More than 30% of capacity in the steel, aluminum and cement industry must meet the government’s most stringent standards for emissions and energy efficiency by 2025, according to longer-term guidelines released on Thursday night.
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By Ernest Scheyder
(Reuters) -A U.S. appeals court on Friday questioned whether it had the power to override an act of Congress that gave Rio Tinto Ltd land in Arizona for its Resolution copper mine, which has been challenged by Native Americans. "It'd be nice if Congress or someone would make more sense out of this," said U.S. Circuit Judge Marsha Berzon, as the court appeared likely to support the U.S. government plan to give Rio Tinto the Arizona land.
Apache Stronghold, a group of Native Americans and conservationists, asked the 9th U.S. Circuit Court of Appeals in San Francisco to overturn a lower court's ruling https://www.reuters.com/business/us-judge-will-not-stop-land-transfer-rio-tinto-mine-arizona-2021-02-12 that allowed the government to give Rio the land.
The 49-minute hearing was the latest development in the long-running clash https://www.reuters.com/business/energy/arizona-mining-fight-pits-economy-evs-against-conservation-culture-2021-04-19/#:~:text=Arizona%20mining%20fight%20pits%20economy%2C%20EVs%20against%20conservation%2C%20culture,-By%20Ernest%20Scheyder&text=But%20U.S.%20President%20Joe%20Biden,in%20a%20drought-stricken%20state between members of Arizona's San Carlos Apache Tribe, who consider the land home to deities, and Rio and minority partner BHP Group Plc, who have spent more than $1 billion on the project without producing any copper.
Demand has been growing for the red metal used to make electric vehicles (EVs) and other electronics devices.
An attorney for the Apache Stronghold said the group was optimistic the court would rule in its favor, but would appeal to the U.S. Supreme Court should it lose. Rio Tinto and BHP declined to comment.
"It's really hard and frankly dangerous to try to predict which way the court is going to rule based on oral arguments," Luke Goodrich, an attorney for Apache Stronghold, told a San Francisco press conference after the hearing. "I think they'll see what the right thing is to do."
Judges questioned whether they had the power to reverse a 2014 decision by former President Barack Obama and Congress that set in motion a complex process to give Rio federally owned Arizona land that contains more than 40 billion pounds of copper in exchange for acreage that Rio owns nearby.
The three appeals court's judges are expected to rule in the near future. Meanwhile, the U.S. Congress is debating a bill that would undo https://www.reuters.com/world/us/us-house-committee-moves-block-rio-tintos-resolution-mine-2021-09-10 the 2014 legislation that approved the land transfer.
Previous court rulings have allowed the government to give away land it owns, even if the land is considered sacred by some groups. But courts have routinely also found that the government cannot force individuals to do something that would violate religious beliefs.
The Apaches have said that giving this land away to Rio Tinto effectively forces them to violate their religious beliefs, since they would not be able to worship at the site.
U.S. Circuit Judge Mary Murgia, one of the three judges, questioned that argument.
"It seems like you might be asking us to alter this test, and I'm not sure if that's appropriate for this panel to do here," Murgia said.
Goodrich, the attorney for Apache Stronghold, disagreed.
"The religious exercises that they've engaged in there for millennia will end" if Rio's mine is built, he told the court.
Berzon said she was sensitive to the historical mistreatment of Native Americans, but felt bound by law to restrict their deliberations to the narrow question under consideration in the case about whether the government can do what it wants with its own land.
Joan Pepin, a U.S. Department of Justice attorney, told judges that the Congress's move to give the land away should override any previous agreements Washington may have made with the Apache.
"When a statute and treaty rights conflict, the statue abrogates it," she said.
U.S. Circuit Judge Carlos Bea asked whether mediation could resolve the conflict. Attorneys for both side said that was unlikely.
(Reporting by Ernest Scheyder; additional reporting by Nathan Frandino and Carlos Barria; Editing by David Gregorio)
(Corrects typographical error in firat paragraph)
By Ernest Scheyder
Oct 22 (Reuters) – A federal appeal court on Friday questioned whether it had the power to override an act of Congress that gave Rio Tinto Ltd land in Arizona for its Resolution copper mine, which has been challenged by Native Americans.
"It'd be nice if Congress or someone would make more sense out of this," said U.S. Circuit Judge Marsha Berzon, as the court appeared likely to support the U.S. government plan to give Rio Tinto the Arizona land.
Apache Stronghold, a group of Native Americans and conservationists, asked the 9th U.S. Circuit Court of Appeals in San Francisco to overturn a lower court's ruling https://www.reuters.com/business/us-judge-will-not-stop-land-transfer-rio-tinto-mine-arizona-2021-02-12 that allowed the government to give Rio the land.
The 49-minute hearing was the latest development in the long-running clash https://www.reuters.com/business/energy/arizona-mining-fight-pits-economy-evs-against-conservation-culture-2021-04-19/#:~:text=Arizona%20mining%20fight%20pits%20economy%2C%20EVs%20against%20conservation%2C%20culture,-By%20Ernest%20Scheyder&text=But%20U.S.%20President%20Joe%20Biden,in%20a%20drought-stricken%20state between members of Arizona's San Carlos Apache Tribe, who consider the land home to deities, and Rio and minority partner BHP Group Plc, who have spent more than $1 billion on the project without producing any copper.
Demand has been growing for the red metal used to make electric vehicles (EVs) and other electronics devices.
An attorney for the Apache Stronghold said it was optimistic that the court would rule in its favor, but would appeal to the U.S. Supreme Court should it lose. Rio Tinto and BHP declined to comment.
Judges questioned whether they had the power to reverse a 2014 decision by former President Barack Obama and Congress that set in motion a complex process to give Rio federally owned Arizona land that contains more than 40 billion pounds of copper in exchange for acreage that Rio owns nearby.
The three appeals court's judges are expected to rule in the near future. Meanwhile, the U.S. Congress is debating a bill that would undo https://www.reuters.com/world/us/us-house-committee-moves-block-rio-tintos-resolution-mine-2021-09-10 the 2014 legislation that approved the land transfer.
Previous court rulings have allowed the government to give away land it owns, even if the land is considered sacred by some groups. But courts have routinely also found that the government cannot force individuals to do something that would violate religious beliefs.
The Apaches have said that giving this land away to Rio Tinto effectively forces them to violate their religious beliefs, since they would not be able to worship at the site.
U.S. Circuit Judge Mary Murgia, one of the three judges, questioned that argument.
"It seems like you might be asking us to alter this test, and I'm not sure if that's appropriate for this panel to do here," Murgia said.
Luke Goodrich, an attorney for Apache Stronghold, disagreed.
"The religious exercises that they've engaged in there for millennia will end" if Rio's mine is built, he said.
Berzon said she was sensitive to the historical mistreatment of Native Americans, but felt bound by law to restrict their deliberations to the narrow question under consideration in the case about whether the government can do what it wants with its own land.
Joan Pepin, a U.S. Department of Justice attorney, told judges that the Congress's move to give the land away should override any previous agreements Washington may have made with the Apache.
"When a statute and treaty rights conflict, the statue abrogates it," she said.
U.S. Circuit Judge Carlos Bea asked whether mediation could resolve the conflict. Attorneys for both side said that was unlikely.
(Reporting by Ernest Scheyder; additional reporting by Nathan Frandino and Carlos Barria; Editing by David Gregorio)
There are a lot of cases of right stock, wrong time lately, like with LAC stock. This is why second chances are important.
(Adds quote from press conference)
By Ernest Scheyder
Oct 22 (Reuters) – A U.S. appeals court on Friday questioned whether it had the power to override an act of Congress that gave Rio Tinto Ltd land in Arizona for its Resolution copper mine, which has been challenged by Native Americans.
"It'd be nice if Congress or someone would make more sense out of this," said U.S. Circuit Judge Marsha Berzon, as the court appeared likely to support the U.S. government plan to give Rio Tinto the Arizona land.
Apache Stronghold, a group of Native Americans and conservationists, asked the 9th U.S. Circuit Court of Appeals in San Francisco to overturn a lower court's ruling https://www.reuters.com/business/us-judge-will-not-stop-land-transfer-rio-tinto-mine-arizona-2021-02-12 that allowed the government to give Rio the land.
The 49-minute hearing was the latest development in the long-running clash https://www.reuters.com/business/energy/arizona-mining-fight-pits-economy-evs-against-conservation-culture-2021-04-19/#:~:text=Arizona%20mining%20fight%20pits%20economy%2C%20EVs%20against%20conservation%2C%20culture,-By%20Ernest%20Scheyder&text=But%20U.S.%20President%20Joe%20Biden,in%20a%20drought-stricken%20state between members of Arizona's San Carlos Apache Tribe, who consider the land home to deities, and Rio and minority partner BHP Group Plc, who have spent more than $1 billion on the project without producing any copper.
Demand has been growing for the red metal used to make electric vehicles (EVs) and other electronics devices.
An attorney for the Apache Stronghold said the group was optimistic the court would rule in its favor, but would appeal to the U.S. Supreme Court should it lose. Rio Tinto and BHP declined to comment.
"It's really hard and frankly dangerous to try to predict which way the court is going to rule based on oral arguments," Luke Goodrich, an attorney for Apache Stronghold, told a San Francisco press conference after the hearing. "I think they'll see what the right thing is to do."
Judges questioned whether they had the power to reverse a 2014 decision by former President Barack Obama and Congress that set in motion a complex process to give Rio federally owned Arizona land that contains more than 40 billion pounds of copper in exchange for acreage that Rio owns nearby.
The three appeals court's judges are expected to rule in the near future. Meanwhile, the U.S. Congress is debating a bill that would undo https://www.reuters.com/world/us/us-house-committee-moves-block-rio-tintos-resolution-mine-2021-09-10 the 2014 legislation that approved the land transfer.
Previous court rulings have allowed the government to give away land it owns, even if the land is considered sacred by some groups. But courts have routinely also found that the government cannot force individuals to do something that would violate religious beliefs.
The Apaches have said that giving this land away to Rio Tinto effectively forces them to violate their religious beliefs, since they would not be able to worship at the site.
U.S. Circuit Judge Mary Murgia, one of the three judges, questioned that argument.
"It seems like you might be asking us to alter this test, and I'm not sure if that's appropriate for this panel to do here," Murgia said.
Goodrich, the attorney for Apache Stronghold, disagreed.
"The religious exercises that they've engaged in there for millennia will end" if Rio's mine is built, he told the court.
Berzon said she was sensitive to the historical mistreatment of Native Americans, but felt bound by law to restrict their deliberations to the narrow question under consideration in the case about whether the government can do what it wants with its own land.
Joan Pepin, a U.S. Department of Justice attorney, told judges that the Congress's move to give the land away should override any previous agreements Washington may have made with the Apache.
"When a statute and treaty rights conflict, the statue abrogates it," she said.
U.S. Circuit Judge Carlos Bea asked whether mediation could resolve the conflict. Attorneys for both side said that was unlikely.
(Reporting by Ernest Scheyder; additional reporting by Nathan Frandino and Carlos Barria; Editing by David Gregorio)
Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
While many investors like to look for momentum in stocks, this can be very tough to define. There is a lot of debate surrounding which metrics are the best to focus on and which are poor quality indicators of future performance. The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.
Below, we take a look at Teck Resources Ltd (TECK), a company that currently holds a Momentum Style Score of B. We also talk about price change and earnings estimate revisions, two of the main aspects of the Momentum Style Score.
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Teck Resources Ltd currently has a Zacks Rank of #1 (Strong Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period.
You can see the current list of Zacks #1 Rank Stocks here >>>
Set to Beat the Market?
Let's discuss some of the components of the Momentum Style Score for TECK that show why this company shows promise as a solid momentum pick.
Looking at a stock's short-term price activity is a great way to gauge if it has momentum, since this can reflect both the current interest in a stock and if buyers or sellers have the upper hand at the moment. It's also helpful to compare a security to its industry; this can show investors the best companies in a particular area.
For TECK, shares are up 9.51% over the past week while the Zacks Mining – Miscellaneous industry is up 6.2% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 12.52% compares favorably with the industry's 7.21% performance as well.
While any stock can see a spike in price, it takes a real winner to consistently outperform the market. Shares of Teck Resources Ltd have increased 19.97% over the past quarter, and have gained 103.28% in the last year. In comparison, the S&P 500 has only moved 4.72% and 34.13%, respectively.
Investors should also take note of TECK's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. Right now, TECK is averaging 4,354,742 shares for the last 20 days.
Earnings Outlook
The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Investors should note that earnings estimates are also significant to the Zacks Rank, and a nice path here can be promising. We have recently been noticing this with TECK.
Over the past two months, 10 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost TECK's consensus estimate, increasing from $2.69 to $3.22 in the past 60 days. Looking at the next fiscal year, 12 estimates have moved upwards while there have been no downward revisions in the same time period.
Bottom Line
Taking into account all of these elements, it should come as no surprise that TECK is a #1 (Strong Buy) stock with a Momentum Score of B. If you've been searching for a fresh pick that's set to rise in the near-term, make sure to keep Teck Resources Ltd on your short list.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Teck Resources Ltd (TECK) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Investors are always looking for stocks that are poised to beat at earnings season and Teck Resources Limited TECK may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.
That is because Teck Resources is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good indicator of some favorable trends underneath the surface for TECK in this report.
In fact, the Most Accurate Estimate for the current quarter is currently at $1.16 per share for TECK, compared to a broader Zacks Consensus Estimate of $1.06 per share. This suggests that analysts have very recently bumped up their estimates for TECK, giving the stock a Zacks Earnings ESP of +9.86% heading into earnings season.
Teck Resources Limited Price and EPS Surprise
Teck Resources Limited price-eps-surprise | Teck Resources Limited Quote
Why is this Important?
A positive reading for the Zacks Earnings ESP has proven to be very powerful in producing both positive surprises, and outperforming the market. Our recent 10-year backtest shows that stocks that have a positive Earnings ESP and a Zacks Rank #3 (Hold) or better show a positive surprise nearly 70% of the time, and have returned over 28% on average in annual returns (see more Top Earnings ESP stocks here).
Given that TECK has a Zacks Rank #1 (Strong Buy) and an ESP in positive territory, investors might want to consider this stock ahead of earnings. You can see the complete list of today’s Zacks #1 Rank stocks here.
Clearly, recent earnings estimate revisions suggest that good things are ahead for Teck Resources, and that a beat might be in the cards for the upcoming report.
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
Teck Resources Ltd (TECK) : Free Stock Analysis Report
To read this article on Zacks.com click here.
ST. LOUIS, Oct. 22, 2021 /PRNewswire/ — Peabody (NYSE: BTU) today announced its offer to purchase (the "Offer") for cash up to $15.842 million (the "Available Repurchase Amount") in aggregate accreted value of its 8.500% Senior Secured Notes due 2024 (the "2024 Notes") at a purchase price equal to 73.590% of the accreted value of the 2024 Notes to be repurchased, plus accrued and unpaid interest as set forth in the Indenture (as defined below), to, but excluding, the settlement date, on the terms and subject to the conditions set forth in the Offer to Purchase, dated October 22, 2021 (the "Offer to Purchase"). The Offer is being made to satisfy the requirements of the Indenture.
The Offer will expire at 5:00 p.m., New York City time, on November 22, 2021, unless extended or earlier terminated by Peabody (the "Expiration Time"). Subject to the Available Repurchase Amount, for each $1,000 accreted value of 2024 Notes validly tendered (and not validly withdrawn) prior to the Expiration Time and accepted by Peabody, holders of 2024 Notes will receive $735.90 in cash (the "Offer Price"), plus accrued and unpaid interest as set forth in the Indenture, to, but excluding, the settlement date. Tendered 2024 Notes may be validly withdrawn at any time prior to the Expiration Time, unless extended or earlier terminated by Peabody. The settlement date is currently expected to be the second business day following the Expiration Time. Concurrently, Peabody is making a debt repurchase offer (the "Concurrent LC Agreement Offer") under the Credit Agreement, dated as of January 29, 2021, among Peabody, the lenders party thereto from time to time and JPMorgan Chase Bank, N.A., as Administrative Agent (the "LC Agreement").
If the aggregate accreted value of the 2024 Notes tendered in the Offer and the aggregate principal and commitment amounts of Priority Lien Debt (as defined in the LC Agreement) under the LC Agreement tendered in the Concurrent LC Agreement Offer collectively exceed the Available Repurchase Amount of $15.842 million, Peabody will select the Notes, subject to the applicable procedures of the Depository Trust Company, to be purchased on a pro rata basis with such adjustments as needed so that no 2024 Notes in an unauthorized denomination are purchased in part based on the aggregate accreted value of the 2024 Notes tendered.
For example, if $15 million aggregate accreted value of Notes are tendered in the Offer and $10 million in aggregate principal and commitment amounts of Priority Lien Debt incurred under the LC Agreement are tendered in the Concurrent LC Agreement Offer, Peabody would purchase $9,505,200 aggregate accreted value of Notes in the Offer, with such Notes to be purchased on a pro rata basis in accordance with the procedures set forth in the preceding paragraph. Under this example, Peabody also would purchase $6,336,800 of Priority Lien Debt under the LC Agreement pursuant to the Concurrent LC Agreement Offer.
The 2024 Notes are governed by an indenture, dated as of January 29, 2021, by and among Peabody, the guarantors party thereto (the "Guarantors") and Wilmington Trust, National Association, as trustee (the "Trustee") (as amended and restated by the First Supplemental Indenture, dated as of February 3, 2021, among Peabody, the Guarantors and the Trustee, and as further amended, supplemented, restated or otherwise modified to the date hereof, the "Indenture"). Under the terms of the Indenture, within 30 days of September 30, 2021, the end of Peabody's third fiscal quarter (such fiscal quarter, the "Debt Repurchase Quarterly Period"), Peabody is obligated to offer to purchase for cash an aggregate accreted value of up to the Available Repurchase Amount of its outstanding 2024 Notes at the price described above. The Offer is intended to satisfy this requirement.
The Available Repurchase Amount for the Offer is equal to 25% of $63.371 million, which is the total aggregate principal and commitment amounts of Priority Lien Debt (as defined in the Indenture) repurchased by Peabody pursuant to open-market repurchases during the Debt Repurchase Quarterly Period. In addition, the Offer Price of $735.90 represents the price per $1,000 accreted value of Notes that is the weighted-average repurchase price for all Priority Lien Debt repurchased by Peabody during the Debt Repurchase Quarterly Period.
None of Peabody, its board of directors (or any committee thereof), Wilmington Trust, National Association, the depositary for the Offer, or the Trustee or their respective affiliates is making any recommendation as to whether or not holders should tender all or any portion of their 2024 Notes in the Offer.
This announcement is not an offer to purchase or sell, or a solicitation of an offer to purchase or sell any securities. The Offer is being made solely by the Offer to Purchase. The Offer is not being made to holders of 2024 Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction.
Peabody (NYSE: BTU) is a leading coal producer, providing essential products to fuel baseload electricity for emerging and developed countries and create the steel needed to build foundational infrastructure. Our commitment to sustainability underpins our activities today and helps to shape our strategy for the future. For further information, visit PeabodyEnergy.com.
Contact:
Alice Tharenos
314.342.7890
Forward-looking Statements
This press release contains forward-looking statements within the meaning of the securities laws. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words or variation of words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "projects," "forecasts," "targets," "would," "will," "should," "goal," "could" or "may" or other similar expressions. Forward-looking statements provide management's current expectations or predictions of future conditions, events or results. All statements that address operating performance, events, or developments that Peabody expects will occur in the future are forward-looking statements. They may also include estimates of sales targets, cost savings, capital expenditures, other expense items, actions relating to strategic initiatives, demand for the company's products, liquidity, capital structure, market share, industry volume, other financial items, descriptions of management's plans or objectives for future operations and descriptions of assumptions underlying any of the above. All forward-looking statements speak only as of the date they are made and reflect Peabody's good faith beliefs, assumptions and expectations, but they are not guarantees of future performance or events. Furthermore, Peabody disclaims any obligation to publicly update or revise any forward-looking statement, except as required by law. By their nature, forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Factors that might cause such differences include, but are not limited to, a variety of economic, competitive and regulatory factors, many of which are beyond Peabody's control, including the ongoing impact of the COVID-19 pandemic and factors that are described in Peabody's Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2020 and Peabody's Quarterly Report on Form 10-Q for the three months ended June 30, 2021, and other factors that Peabody may describe from time to time in other filings with the SEC. You may get such filings for free at Peabody's website at www.peabodyenergy.com. You should understand that it is not possible to predict or identify all such factors and, consequently, you should not consider any such list to be a complete set of all potential risks or uncertainties.
View original content to download multimedia:https://www.prnewswire.com/news-releases/peabody-announces-offer-to-purchase-up-to-15-842-million-in-aggregate-accreted-value-of-its-8-500-senior-secured-notes-due-2024–301406889.html
SOURCE Peabody
The market expects Energy Fuels (UUUU) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2021. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.
The earnings report might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.
While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.
Zacks Consensus Estimate
This uranium and vanadium miner and developer is expected to post quarterly loss of $0.03 per share in its upcoming report, which represents a year-over-year change of +62.5%.
Revenues are expected to be $10.53 million, up 2049% from the year-ago quarter.
Estimate Revisions Trend
The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.
Price, Consensus and EPS Surprise
Earnings Whisper
Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model — the Zacks Earnings ESP (Expected Surprise Prediction).
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Energy Fuels?
For Energy Fuels, the Most Accurate Estimate is the same as the Zacks Consensus Estimate, suggesting that there are no recent analyst views which differ from what have been considered to derive the consensus estimate. This has resulted in an Earnings ESP of 0%.
On the other hand, the stock currently carries a Zacks Rank of #3.
So, this combination makes it difficult to conclusively predict that Energy Fuels will beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?
Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Energy Fuels would post a loss of $0.04 per share when it actually produced a loss of $0.07, delivering a surprise of -75%.
Over the last four quarters, the company has beaten consensus EPS estimates just once.
Bottom Line
An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Energy Fuels doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
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Energy Fuels Inc (UUUU) : Free Stock Analysis Report
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Here are four stocks with buy ranks and strong growth characteristics for investors to consider today, October 22:
Albertsons Companies, Inc. ACI: This distributor of fruits, vegetables, canned items and other related goods carries a Zacks Rank #1 (Strong Buy), has witnessed the Zacks Consensus Estimate for its current year earnings increasing 14.1% over the last 60 days.
Albertsons Companies, Inc. Price and Consensus
Albertsons Companies, Inc. price-consensus-chart | Albertsons Companies, Inc. Quote
Albertsons has a PEG ratio of 0.95 compared with 3.52 for the industry. The company possesses a Growth Score of A.
Albertsons Companies, Inc. PEG Ratio (TTM)
Albertsons Companies, Inc. peg-ratio-ttm | Albertsons Companies, Inc. Quote
SignetJewelers Limited SIG: This retailer of jewelry, watches, and related accessories carries a Zacks Rank #1, has witnessed the Zacks Consensus Estimate for its current year earnings increasing 47% over the last 60 days.
Signet Jewelers Limited Price and Consensus
Signet Jewelers Limited price-consensus-chart | Signet Jewelers Limited Quote
Signet has a PEG ratio of 1.11, compared with 2.96 for the industry. The company possesses a Growth Score of A.
Signet Jewelers Limited PEG Ratio (TTM)
Signet Jewelers Limited peg-ratio-ttm | Signet Jewelers Limited Quote
DevonEnergy Corporation DVN: This independent energy company carries a Zacks Rank #1, has witnessed the Zacks Consensus Estimate for its current year earnings increasing 7.3% over the last 60 days.
Devon Energy Corporation Price and Consensus
Devon Energy Corporation price-consensus-chart | Devon Energy Corporation Quote
Devon has a PEG ratio of 0.41, compared with 0.60 for the industry. The company possesses a Growth Score of B.
Devon Energy Corporation PEG Ratio (TTM)
Devon Energy Corporation peg-ratio-ttm | Devon Energy Corporation Quote
APACorporation APA: This explorer and producer of oil and gas properties carries a Zacks Rank #1, has witnessed the Zacks Consensus Estimate for its current year earnings increasing 14% over the last 60 days.
APA Corporation Price and Consensus
APA Corporation price-consensus-chart | APA Corporation Quote
APA has a PEG ratio of 0.50, compared with 0.60 for the industry. The company possesses a Growth Score of B.
APA Corporation PEG Ratio (TTM)
APA Corporation peg-ratio-ttm | APA Corporation Quote
See the full list of top ranked stocks here.
Learn more about the Growth score and how it is calculated here.
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Calgary, Alberta–(Newsfile Corp. – October 22, 2021) – West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) ("West High Yield" or the "Company") announces that its board of directors has approved and authorized the grant of 350,000 stock options (the "Options") to a consultant of the Company effective October 21, 2021. The Options are granted in accordance with the terms of the stock option plan of the Company. All of the Options vest on their date of grant and every one (1) Option entitles the holder thereof to purchase one (1) common share of the Company at a price of CAD$0.34 per common share for a period of five (5) years from the Option grant date.
About West High Yield
West High Yield is a publicly traded junior mining exploration and development company focused on the acquisition, exploration, and development of mineral resource properties in Canada with a primary objective to develop its Record Ridge magnesium deposit using green processing techniques to minimize waste and CO2 emissions.
Contact Information:
West High Yield (W.H.Y.) Resources Ltd.
Frank Marasco, President and Chief Executive Officer
Telephone: (403) 660-3488 Facsimile: (403) 206-7159
Email: frank@whyresources.com
Cautionary Note Regarding Forward-looking Information
This press release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; and other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities of the Company will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.
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 OF THIS RELEASE.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/100621
/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES/
TORONTO, Oct. 22, 2021 /CNW/ – First Cobalt Corp. (TSXV: FCC) (the "Company") is pleased to announce that it has completed the sale of additional Secured Convertible Notes, for an aggregate amount of US$7.5 million, as part of the Company's recently completed offering of 6.95% senior secured convertible notes due December 1, 2026 (the "Notes").
Pursuant to subscription agreements entered into between the Company and investors on August 23, 2021, each investor had the right to subscribe for additional Notes pro rata for an aggregate additional principal amount of up to US$7.5 million. The offering of Notes was led by Cantor Fitzgerald & Co., as sole placement agent. Cantor Fitzgerald & Co. received a placement agent fee equal of 4% of the gross proceeds of the additional Notes sold.
With the exercise of the option, First Cobalt is adequately financed for the recommissioning and expansion of its hydrometallurgical refinery in Ontario, and on track to becoming North America's only producer of sustainable battery-grade cobalt sulfate by Q4'2022.
The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any applicable U.S. state securities laws, and may not be offered or sold in the United States absent registration or an available exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This press 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. This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer or sale would be unlawful.
About First Cobalt
First Cobalt's mission is to be a producer of diversified high-quality and sustainable battery materials for the North American battery supply chain. The Company owns a permitted hydrometallurgical refinery in Ontario, Canada, a critical asset in the development and manufacturing of batteries for electric vehicles. First Cobalt also owns the Iron Creek cobalt-copper project in Idaho, USA as well as several significant cobalt and silver properties in the Canadian Cobalt Camp.
On behalf of First Cobalt Corp.
Trent Mell
President & Chief Executive Officer
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 Note Regarding Forward-Looking Statements
This news release may contain forward-looking statements and forward-looking information (together, "forward- looking statements") within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, are forward-looking statements. Specifically, statements with respect to the use of proceeds of the exercise of the investor option, the development of the Refinery, and other matters ancillary or incidental to the foregoing are forward looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects', "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "occur" or "be achieved". Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance and opportunities to differ materially from those implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements are set forth in the management discussion and analysis and other disclosures of risk factors for the Company, filed on SEDAR at www.sedar.com, and are included in the Base Shelf Prospectus and the Prospectus Supplement. Although the Company believes that the information and assumptions 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 times frames or at all. Except where required by applicable 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 First Cobalt Corp.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2021/22/c4376.html
Toronto, Ontario–(Newsfile Corp. – October 22, 2021) – Eric Sprott announces that, today, 4,000,000 common share purchase warrants ("Warrants") of Max Resource Corp., (held by 2176423 Ontario Ltd., a corporation he beneficially owns) expired unexercised representing a decrease in holdings of approximately 5.5% of the outstanding common shares ("Shares") on a partially diluted basis since the date of the last early warning report. Prior to the expiry of these Warrants, Mr. Sprott beneficially owned and controlled 8,000,000 Shares and 4,000,000 Warrants representing approximately 8.2% of the outstanding Shares on a non-diluted basis and approximately 11.8% on a partially diluted basis assuming the exercise of such Warrants.
As a result of the Warrant expiry, Mr. Sprott now beneficially owns and controls 8,000,000 Shares representing approximately 8.2% of the issued and outstanding Shares on a non-diluted basis. The Warrants expiry resulted in a partially diluted ownership change of greater than 2% (to below 10%) and, therefore, the filing of an update to the early warning report.
The Shares are held for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.
Max Resource Corp is located at 1188-1095 W Pender Street, Vancouver, British Columbia, V6E 2M6. A copy of the early warning report with respect to the foregoing will appear on the company's profile on the System for Electronic Document Analysis and Retrieval at www.sedar.com and may also be obtained by calling Mr. Sprott's office at (416) 945-3294 (2176423 Ontario Ltd., 200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/100616
Investors looking for stocks in the Chemical – Diversified sector might want to consider either Huntsman (HUN) or Albemarle (ALB). But which of these two companies is the best option for those looking for undervalued stocks? Let's 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 proven Zacks Rank puts an emphasis on earnings estimates and estimate revisions, while our Style Scores work to identify stocks with specific traits.
Huntsman and Albemarle are sporting Zacks Ranks of #2 (Buy) and #3 (Hold), respectively, right now. This means that HUN's earnings estimate revision activity has been more impressive, so investors should feel comfortable with its improving analyst outlook. But this is only part of the picture for value investors.
Value investors also try to analyze a wide range of traditional figures and metrics to help determine whether a company is undervalued at its 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.
HUN currently has a forward P/E ratio of 10.14, while ALB has a forward P/E of 65.59. We also note that HUN has a PEG ratio of 0.18. 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. ALB currently has a PEG ratio of 3.04.
Another notable valuation metric for HUN is its P/B ratio of 1.86. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. For comparison, ALB has a P/B of 4.29.
Based on these metrics and many more, HUN holds a Value grade of B, while ALB has a Value grade of D.
HUN has seen stronger estimate revision activity and sports more attractive valuation metrics than ALB, so it seems like value investors will conclude that HUN is the superior option right now.
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Zacks Investment Research
Chemical companies’ third-quarter results are expected to reflect the upturn in demand across major end-use industries from the coronavirus lows. The chemical industry faced the heat from a significant downturn in demand during the first half of 2020 as lockdowns and travel restrictions amid the pandemic brought global economic activities to a near-standstill.
However, with the reopening of the major economies around the world, demand for chemicals started to pick up from the third quarter last year on a rebound in economic activities worldwide. The recovery continued to gain steam this year on an upswing in global industrial activities.
Chemical companies are seeing a strong rebound in demand in key end-use markets including automotive, construction and electronics. Strong demand in automotive and construction, the two major chemical-consuming markets, is likely to have driven their volumes and top lines in the third quarter.
The automotive industry has witnessed a speedy recovery after the virus-led slump on the back of strong pent-up demand. Despite the semiconductor crunch, chemical makers are enjoying healthy demand from the automotive market.
The construction sector has also recovered on the restart of projects that were stalled earlier partly due to supply chain disruptions. Strength is being witnessed in residential construction globally, supported by lower interest rates and higher demand for new properties due to the rising trend of work from home. Companies in the chemical space are also expected to have benefited, in the third quarter, from higher demand for chemicals and materials across healthcare and packaging markets, thanks to coronavirus.
However, chemical companies’ third-quarter results are expected to reflect the impacts of raw material cost inflation as well as higher supply chain and logistics costs. Supply chain disruptions due to coronavirus and weather-related events have led to a spike in raw material costs. Supply tightness continues for a number of key raw materials, including several resins, natural gas, propylene, butadiene and glass fiber. The lingering impacts of supply chain and logistic bottlenecks, exacerbated by the recent unfavorable weather events globally and the resurgence of coronavirus infections, are expected to be reflected in the September quarter.
Hurricane Ida dealt another blow to the supply chain. Force majeures and plant shutdowns associated with Ida are expected to have further squeezed the supply of raw materials including ethylene and propylene and pushed up their prices, the impacts of which are likely to reflect on chemical companies’ third-quarter results.
Against this backdrop, chemical makers remain focused on self-help measures, including cost-cutting and productivity improvement, expansion into high-growth markets, restructuring, operational efficiency improvement, and actions to strengthen balance sheets and boost cash flows. A number of companies in this space have also been taking price increase actions to counter the cost inflation and tightness in the supply chain. Chemical companies also remain actively focused on acquisitions to diversify and drive growth. The benefits of these actions might reflect on their third-quarter results.
Among the chemical companies that have already come up with their quarterly numbers, we have seen solid earnings beats from prominent names such as Dow Inc. DOW and Celanese Corporation CE on the back of a demand strength in end-markets amid headwinds from supply-chain disruptions.
Expectations for Q3
The chemical industry is housed within the broader Zacks Basic Materials sector. Basic Materials is among the sectors that are expected to deliver positive earnings growth in the third quarter. Overall earnings for the sector are projected to rise 138% on 36.7% higher revenues, per the latest Earnings Trends.
How to Pick Winners?
Given the large number of players operating in the chemical space, picking the right stocks is apparently not an easy task. But our proprietary methodology makes it fairly simple. One can trim down the list with the combination of a favorable Zacks Rank — Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) — and a positive Zacks Earnings ESP. You can uncover the best stocks to buy or sell before they report with our Earnings ESP Filter.
Earnings ESP — the percentage difference between the Most Accurate Estimate and the Zacks Consensus Estimate — is our proprietary methodology for determining stocks that have high chances of delivering earnings surprises in their next announcements. Our research shows that for stocks with this combination, the chance of a positive earnings surprise is as much as 70%.
Our Choices
Below we list four chemical stocks that have the right combination of elements to pull off positive surprises this earnings season:
Westlake Chemical Corporation WLK has an Earnings ESP of +1.22% and a Zacks Rank #1. It is slated to report third-quarter results on Nov 2.
The company surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average being 21.1%. The Zacks Consensus Estimate for third-quarter earnings has been revised 1.6% upward over the last 60 days. The consensus estimate for third-quarter earnings is pegged at $3.91, which suggests a rise of 551.7% from the prior-year quarter. Westlake Chemical is likely to have benefited from higher demand in its polyethylene business in specialty applications, especially food packaging, and strength in global demand for PVC resin. Demand in the downstream building products business is expected to have remained strong in the quarter on new housing starts and spending on repair and remodeling activities.
Westlake Chemical Corporation Price and EPS Surprise
Westlake Chemical Corporation price-eps-surprise | Westlake Chemical Corporation Quote
Tronox Holdings plc TROX has an Earnings ESP of +0.38% and a Zacks Rank #1. It is scheduled to report third-quarter results on Oct 27. You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus mark for third-quarter earnings has been stable over the last 60 days. The Zacks Consensus Estimate for third-quarter earnings is pegged at 67 cents, which suggests a rise of a whopping 1,240% from the prior-year quarter. The company is likely to have benefited from price improvements in the third quarter, which is expected to have offset the volume weakness in TiO2 due to supplier and logistics constraints. Higher TiO2 and zircon prices are expected to have supported its margins.
Tronox Holdings PLC Price and EPS Surprise
Tronox Holdings PLC price-eps-surprise | Tronox Holdings PLC Quote
The Chemours Company CC has an Earnings ESP of +5.70% and carries a Zacks Rank #2. The company is scheduled to report third-quarter results on Nov 4.
The company surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average being 38.9%. The Zacks Consensus Estimate for third-quarter earnings has been stable over the last 60 days. The consensus estimate for third-quarter earnings is pegged at 97 cents, which suggests a rise of 106.4% from the prior-year quarter. The company is likely to have benefited from higher demand for Opteon, strong execution and cost-cutting measures. It is expected to have witnessed continued strong demand for Opteon in mobile and stationary applications in the third quarter. Productivity and operational improvement actions across its businesses are also likely to have supported margins.
The Chemours Company Price and EPS Surprise
The Chemours Company price-eps-surprise | The Chemours Company Quote
Albemarle Corporation ALB has an Earnings ESP of +8.73% and carries a Zacks Rank #3. The company is scheduled to report third-quarter results on Nov 3.
The company surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average being 22%. The Zacks Consensus Estimate for third-quarter earnings has been revised 2.7% upward over the last 60 days. The consensus estimate for third-quarter earnings is pegged at 75 cents. The company is likely to have benefited from higher lithium volumes on continued recovery in global economic activities, improved performance in its Catalysts unit and its cost-reduction actions in the quarter. Higher lithium prices are also expected to have aided its performance. Healthy customer orders and plant productivity improvements are like to have supported lithium volumes.
Albemarle Corporation Price and EPS Surprise
Albemarle Corporation price-eps-surprise | Albemarle Corporation Quote
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Dow Inc. (DOW) : Free Stock Analysis Report
Albemarle Corporation (ALB) : Free Stock Analysis Report
Celanese Corporation (CE) : Free Stock Analysis Report
Tronox Holdings PLC (TROX) : Free Stock Analysis Report
The Chemours Company (CC) : Free Stock Analysis Report
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CHARLOTTE, N.C., Oct. 22, 2021 /PRNewswire/ — Albemarle Corporation (NYSE: ALB), a leader in the global specialty chemicals industry, today announced its intent for strategic investments in China in support of the expansion of its lithium conversion capacity. The company recently signed investment agreements with the Yangtze River International Chemical Industrial Park in the Zhangjiagang Free Trade Zone (Jiangsu province), and the Pengshan Economic Development Park in the Pengshan District (Sichuan province).
"These agreements are important steps in our continued commitment to invest in new capacity that will support our customers' growth plans," said Eric Norris, President, Lithium. "We are excited to expand our network of high-quality, battery-grade hydroxide production capacity in China."
With these agreements, Albemarle will move forward with its design, engineering and permitting plans to build a conversion plant at each site, each of which has planned production capacity initially targeting 50,000 metric tons lithium hydroxide per annum. Subject to additional studies and approvals, it is expected these plants would start construction during 2022 and complete construction by the end of 2024.
"We are excited to work with our local teams in China to deliver Albemarle's next-generation lithium hydroxide plants," added Jac Fourie, Chief Capital Projects Officer. "These projects represent the next step in our Capital Excellence Program to capture benefits in speed to market, lower capital intensity, lower product cost, and improved sustainability."
About Albemarle
Albemarle Corporation (NYSE: ALB) is a global specialty chemicals company with leading positions in lithium, bromine and catalysts. We think beyond business as usual to power the potential of companies in many of the world's largest and most critical industries, such as energy, electronics, and transportation. We actively pursue a sustainable approach to managing our diverse global footprint of world-class resources. In conjunction with our highly experienced and talented global teams, our deep-seated values, and our collaborative customer relationships, we create value-added and performance-based solutions that enable a safer and more sustainable future.
We regularly post information to www.albemarle.com, including notification of events, news, financial performance, investor presentations and webcasts, non-GAAP reconciliations, SEC filings and other information regarding our company, its businesses, and the markets it serves.
Forward-Looking Statements
Some of the information presented in this press release, including, without limitation, information related to expected capacity expansion, plans and anticipated benefits in relation to the capacity expansion, the targeted construction and completion dates for the capacity expansion and all other information relating to matters that are not historical facts may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from the views expressed herein. Factors that could cause actual results to differ materially from the outlook expressed or implied in any forward-looking statement include, without limitation: changes in economic and business conditions; changes priorities, financial, and operating performance of Albemarle's major customers and industries and markets served by Albemarle; the timing of orders received from customers; the gain or loss of significant customers; competition from other manufacturers; changes in the demand for Albemarle's products or the end-user markets in which its products are sold; the availability of financing; the satisfaction of conditions to completion, including regulatory approvals; the occurrence of regulatory actions, proceedings, claims, or litigation; and the other factors detailed from time to time in the reports Albemarle files with the SEC, including those described under "Risk Factors" in its Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. These forward-looking statements speak only as of the date of this press release. We assume no obligation to provide any revisions to any forward-looking statements should circumstances change, except as otherwise required by securities and other applicable laws.
View original content to download multimedia:https://www.prnewswire.com/news-releases/albemarle-signs-two-agreements-for-strategic-investments-in-china-to-expand-lithium-conversion-capacity-301406469.html
SOURCE Albemarle Corporation
(Adds quote from press conference)
By Ernest Scheyder
Oct 22 (Reuters) – A U.S. appeals court on Friday questioned whether it had the power to override an act of Congress that gave Rio Tinto Ltd land in Arizona for its Resolution copper mine, which has been challenged by Native Americans.
"It'd be nice if Congress or someone would make more sense out of this," said U.S. Circuit Judge Marsha Berzon, as the court appeared likely to support the U.S. government plan to give Rio Tinto the Arizona land.
Apache Stronghold, a group of Native Americans and conservationists, asked the 9th U.S. Circuit Court of Appeals in San Francisco to overturn a lower court's ruling https://www.reuters.com/business/us-judge-will-not-stop-land-transfer-rio-tinto-mine-arizona-2021-02-12 that allowed the government to give Rio the land.
The 49-minute hearing was the latest development in the long-running clash https://www.reuters.com/business/energy/arizona-mining-fight-pits-economy-evs-against-conservation-culture-2021-04-19/#:~:text=Arizona%20mining%20fight%20pits%20economy%2C%20EVs%20against%20conservation%2C%20culture,-By%20Ernest%20Scheyder&text=But%20U.S.%20President%20Joe%20Biden,in%20a%20drought-stricken%20state between members of Arizona's San Carlos Apache Tribe, who consider the land home to deities, and Rio and minority partner BHP Group Plc, who have spent more than $1 billion on the project without producing any copper.
Demand has been growing for the red metal used to make electric vehicles (EVs) and other electronics devices.
An attorney for the Apache Stronghold said the group was optimistic the court would rule in its favor, but would appeal to the U.S. Supreme Court should it lose. Rio Tinto and BHP declined to comment.
"It's really hard and frankly dangerous to try to predict which way the court is going to rule based on oral arguments," Luke Goodrich, an attorney for Apache Stronghold, told a San Francisco press conference after the hearing. "I think they'll see what the right thing is to do."
Judges questioned whether they had the power to reverse a 2014 decision by former President Barack Obama and Congress that set in motion a complex process to give Rio federally owned Arizona land that contains more than 40 billion pounds of copper in exchange for acreage that Rio owns nearby.
The three appeals court's judges are expected to rule in the near future. Meanwhile, the U.S. Congress is debating a bill that would undo https://www.reuters.com/world/us/us-house-committee-moves-block-rio-tintos-resolution-mine-2021-09-10 the 2014 legislation that approved the land transfer.
Previous court rulings have allowed the government to give away land it owns, even if the land is considered sacred by some groups. But courts have routinely also found that the government cannot force individuals to do something that would violate religious beliefs.
The Apaches have said that giving this land away to Rio Tinto effectively forces them to violate their religious beliefs, since they would not be able to worship at the site.
U.S. Circuit Judge Mary Murgia, one of the three judges, questioned that argument.
"It seems like you might be asking us to alter this test, and I'm not sure if that's appropriate for this panel to do here," Murgia said.
Goodrich, the attorney for Apache Stronghold, disagreed.
"The religious exercises that they've engaged in there for millennia will end" if Rio's mine is built, he told the court.
Berzon said she was sensitive to the historical mistreatment of Native Americans, but felt bound by law to restrict their deliberations to the narrow question under consideration in the case about whether the government can do what it wants with its own land.
Joan Pepin, a U.S. Department of Justice attorney, told judges that the Congress's move to give the land away should override any previous agreements Washington may have made with the Apache.
"When a statute and treaty rights conflict, the statue abrogates it," she said.
U.S. Circuit Judge Carlos Bea asked whether mediation could resolve the conflict. Attorneys for both side said that was unlikely.
(Reporting by Ernest Scheyder; additional reporting by Nathan Frandino and Carlos Barria; Editing by David Gregorio)
For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to investors, even if it completely lacks a track record of revenue and profit. Unfortunately, high risk investments often have little probability of ever paying off, and many investors pay a price to learn their lesson.
If, on the other hand, you like companies that have revenue, and even earn profits, then you may well be interested in Hargreaves Services (LON:HSP). Now, I'm not saying that the stock is necessarily undervalued today; but I can't shake an appreciation for the profitability of the business itself. While a well funded company may sustain losses for years, unless its owners have an endless appetite for subsidizing the customer, it will need to generate a profit eventually, or else breathe its last breath.
Check out our latest analysis for Hargreaves Services
How Fast Is Hargreaves Services Growing Its Earnings Per Share?
In business, though not in life, profits are a key measure of success; and share prices tend to reflect earnings per share (EPS). So like a ray of sunshine through a gap in the clouds, improving EPS is considered a good sign. It is therefore awe-striking that Hargreaves Services's EPS went from UK£0.13 to UK£0.51 in just one year. Even though that growth rate is unlikely to be repeated, that looks like a breakout improvement.
One way to double-check a company's growth is to look at how its revenue, and earnings before interest and tax (EBIT) margins are changing. While Hargreaves Services may have maintained EBIT margins over the last year, revenue has fallen. And that does make me a little more cautious of the stock.
The chart below shows how the company's bottom and top lines have progressed over time. For finer detail, click on the image.
You don't drive with your eyes on the rear-view mirror, so you might be more interested in this free report showing analyst forecasts for Hargreaves Services's future profits.
Are Hargreaves Services Insiders Aligned With All Shareholders?
Like standing at the lookout, surveying the horizon at sunrise, insider buying, for some investors, sparks joy. This view is based on the possibility that stock purchases signal bullishness on behalf of the buyer. Of course, we can never be sure what insiders are thinking, we can only judge their actions.
It's good to see Hargreaves Services insiders walking the walk, by spending UK£260k on shares in just twelve months. When you contrast that with the complete lack of sales, it's easy for shareholders to brim with joyful expectancy. Zooming in, we can see that the biggest insider purchase was by Independent Non-Executive Chairman Roger McDowell for UK£110k worth of shares, at about UK£2.19 per share.
The good news, alongside the insider buying, for Hargreaves Services bulls is that insiders (collectively) have a meaningful investment in the stock. Indeed, they hold UK£15m worth of its stock. That shows significant buy-in, and may indicate conviction in the business strategy. Those holdings account for over 9.7% of the company; visible skin in the game.
Should You Add Hargreaves Services To Your Watchlist?
Hargreaves Services's earnings have taken off like any random crypto-currency did, back in 2017. What's more insiders own a significant stake in the company and have been buying more shares. Because of the potential that it has reached an inflection point, I'd suggest Hargreaves Services belongs on the top of your watchlist. We don't want to rain on the parade too much, but we did also find 2 warning signs for Hargreaves Services (1 makes us a bit uncomfortable!) that you need to be mindful of.
The good news is that Hargreaves Services is not the only growth stock with insider buying. Here's a list of them… with insider buying in the last three months!
Please note the insider transactions discussed in this article refer to reportable transactions in the relevant jurisdiction.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
Inaugural Mineral Resources reported under new U.S. S-K 1300 Standards
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Carolina Lithium Project total Mineral Resources increase to 44.2 Mt @ 1.08% Li2O
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Indicated Mineral Resources increased 101% to 28.2 Mt @ 1.11% Li2O for the Project
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DFS completion for the integrated 30,000 t/y LiOH Carolina Lithium Project expected within Q4 2021
BELMONT, N.C., October 21, 2021–(BUSINESS WIRE)–Piedmont Lithium Inc. (Nasdaq: PLL) ("Piedmont" or "Company") is pleased to announce an updated global Mineral Resource estimate ("MRE") (Table 1 attached) for the Company’s flagship Carolina Lithium Project in North Carolina, USA. The MRE includes updates for lithium and industrial mineral products. The total MRE for the project is 44.2 Mt @ 1.08% Li2O, with 64% of the total MRE classified in the Indicated category. The Mineral Resource estimate reported in accordance with the U.S. Securities and Exchange Commission S-K 1300 standards and the Australasian JORC Code (2012 Edition).
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211021005185/en/
Piedmont Increases Mineral Resources With Completion of Phase 5 Infill Drilling (Photo: Business Wire)
Keith D. Phillips, President and Chief Executive Officer, commented: "We are very pleased to have concluded our Phase 5 drill campaign and to further expand our world-class resource base. Carolina Lithium has one of the largest spodumene resources in North America, and the only one located in the United States. The increase in ‘Indicated’ resources of over 100% relative to resources previously reported under Australian standards, will underpin the definitive feasibility study for Carolina Lithium that we plan to publish later in 2021. The DFS will be another important step along the path to building America’s leading lithium business to support and enable the rapidly-growing electric vehicle supply chain in the United States."
To view the full release, click here.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211021005185/en/
Contacts
Keith Phillips
President & CEO
T: +1 973 809 0505
E: kphillips@piedmontlithium.com
Brian Risinger
VP – Investor Relations and Corporate Communications
T: +1 704 910 9688
E: brisinger@piedmontlithium.com
MELBOURNE, Oct 21 (Reuters) – BHP Group is looking at the potential to use the waste from its Australian nickel mining operations to capture and store carbon and will conduct field trials this financial year.
It is also harnessing new technologies to look deeper underground for minerals critical to the energy transition like nickel and copper, Chief Technical Officer Laura Tyler will say at a trade conference in London, according to prepared remarks.
BHP mines the metal at its Nickel West operations in Western Australia. It also processes nickel into high quality powder, 85% of which goes to the battery industry. This year it signed a deal to supply nickel – a key ingredient in electric vehicle batteries – to Tesla Inc.
Waste from Nickel West operations is high in magnesium oxide, which can pull carbon out of the air to create magnesium carbonate, a stable compound in the form of a salt, according to Tyler.
"That material can then be left safely in situ, or used in building materials like carbon neutral cement or plasterboard," her prepared remarks said.
BHP’s trials will be conducted at its Mt Keith tailings dam in Western Australia.
At five kilometres wide, the dam can already store some 40,000 tonnes of carbon dioxide from the atmosphere each year, enough to offset around 15,000 average-sized combustion engine cars. Researchers believe it could store far more CO2 every year if the mineral carbonation rate could be enhanced through different processes and engineering solutions.
The miner is also using real-time sensors, multi-physics arrays and data analytics to speed up decision-making, cut logistics requirements and increase the potential for discoveries.
BHP on Wednesday topped a takeover offer for Noront Resources Ltd from Australian billionaire Andrew Forrest's Wyloo Metals, as the two groups vie for greater access to the high-grade nickel deposit.
(Reporting by Melanie Burton; Editing by Edwina Gibbs)
CRANBROOK, BC / ACCESSWIRE / October 21, 2021 /Eagle Plains Resources Ltd. (TSX-V:EPL) is pleased to report that it has mobilized crews to commence exploration fieldwork at the road-accessible Slocan Graphite Project located 34km northwest of Castlegar, British Columbia. The project is owned 100% by Eagle Plains with no underlying royalties or encumbrances. The property hosts several large flake graphite-bearing outcrops and float occurrences known as the Tedesco Zone, which is interpreted to extend over 2.0km. Prior to the commencement of fieldwork Eagle Plains acquired by staking an additional 188 ha of mineral tenure to increase the property size to 2387 ha. 2021 program work will be managed by TerraLogic Exploration Services of Cranbrook, BC. under the supervision of Jarrod A. Brown, P.Geo.
The current program will focus on prospecting and geological mapping in underexplored areas of the property to locate extensions of the known graphite mineralized horizon and to better understand controls on mineralization.
See project location and summary map here
About the Slocan Graphite Project
Graphite is a naturally occurring form of carbon and is an excellent conductor of both electricity and heat. It is becoming increasingly important as a critical strategic component in advancing alternative energy solutions including wind and solar power, hybrid vehicles and other alternative energy uses. It is also a mainstay of the steel production industry. Canada is currently ranked as the 5th largest supplier of graphite.
The Slocan Graphite Project benefits from excellent infrastructure including a high-voltage transmission line within 1.2 km of the property boundaries, an extensive network of forestry roads on and around the property, and an existing graphite processing plant and facilities located 1.5 km west of the property, owned by Eagle Graphite Corporation.
Graphite mineralization was initially discovered in logging road exposures in the late 1990's. Ground and airborne geophysical surveys were completed in the project area in 2000 and 2010 respectively. Both surveys indicated strong conductive anomalies that correlate well with surface mineralization and are interpreted to extend along strike and down-dip of known occurrences. A limited number of documented samples have been taken across the Tedesco horizon and analysed for carbon graphite ranging from trace values to grades of up to 3.36 and 4.43 per cent.
Graphite mineralization is hosted primarily in carbonate and calc-silicate lithologies within the Passmore Dome of the Valhalla Metamorphic Complex, a geologic setting consistent with a crystalline flake graphite deposit model. Previous operators have estimated the mineralized horizon to be up to 50m thick, however cite that it is difficult to determine due to a lack of surface exposure. The horizon has never been tested by diamond drilling.
Past workers in the area concluded: "Although the graphite occurrences at Tedesco are in the early stages of exploration, geological, assay, and geophysical data indicate significant potential to form an economic deposit" (BC Assessment Report 26537). Eagle Plains geologists are of the opinion that the high-quality, large flake character of the graphite mineralization found to date, spatial extent of conductivity from a 2010 airborne electromagnetic ("EM") survey, minimal historic exploration activity, excellent proximity to infrastructure and the favorable economic outlook for graphite as a strategic commodity make Slocan Graphite a compelling project for continued exploration and a potentially significant component of Eagle Plain's broad and varied portfolio of exploration projects. The project is consistent with EPL's policy of identifying and acquiring undervalued exploration projects during cyclical downturns within a particular commodity space.
Management cautions that historical results were collected and reported by past operators and have not been verified nor confirmed by a Qualified Person, but form a basis for ongoing work at the Slocan Graphite property. While the company considers the above historical information to be relevant to investors as it may indicate the presence of mineralization, the reader is cautioned that a Qualified Person has not done sufficient work to evaluate the potential of the property to contain an economic deposit and that there is no certainty that the property contains a graphite deposit.
Charles C. Downie, P.Geo., a "qualified person" for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects, and a Director of Eagle Plains Resources Ltd., has prepared, reviewed, and approved the scientific and technical disclosure in this news release.
About Eagle Plains Resources
Based in Cranbrook, B.C., Eagle Plains continues to conduct research, acquire and explore mineral projects throughout western Canada. The Company is committed to steadily enhancing shareholder value by advancing our diverse portfolio of projects toward discovery through collaborative partnerships and development of a highly experienced technical team. Eagle Plains also holds significant royalty interests in western Canadian projects covering a broad spectrum of commodities. Management's focus is to advance its most promising exploration projects. In addition, Eagle Plains continues to seek out and secure high-quality, unencumbered projects through research, staking and strategic acquisitions. Throughout the exploration process, our mission is to help maintain prosperous communities by exploring for and discovering resource opportunities while building lasting relationships through honest and respectful business practices.
Expenditures from 2011-2020 on Eagle Plains-related projects exceed $22M, most of which was funded by third-party partners. This exploration work resulted in approximately 37,000 m of diamond-drilling and extensive ground-based exploration work facilitating the advancement of numerous projects at various stages of development.
On behalf of the Board of Directors
"Tim J. Termuende"
President and CEO
For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com.
Cautionary Note Regarding Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE: Eagle Plains Resources Ltd.
View source version on accesswire.com:
https://www.accesswire.com/668950/Eagle-Plains-Acquires-Additional-Tenure-and-Commences-2021-Fieldwork-at-the-Slocan-Graphite-Property
Southern Copper Corporation SCCO is expected to deliver year-over-year improvement in both revenues and earnings when it reports third-quarter 2021 results next week.
Q2 Results
In the last reported quarter, the company’s earnings and sales not only beat the Zacks Consensus Estimate but also improved year over year owing to higher metal prices.
The company has beat earnings estimates in each of the trailing four quarters, the average surprise being 10.2%.
Southern Copper Corporation Price and EPS Surprise
Southern Copper Corporation price-eps-surprise | Southern Copper Corporation Quote
Q3 Estimates
The Zacks Consensus Estimate for third-quarter 2021 earnings per share is currently pegged at $1.13, indicating an improvement of 74% from the prior-year quarter. The estimate has gone up 4% over the past 30 days. The consensus mark for the quarter’s revenues stands at $2.7 billion, suggesting year-over-year growth of 27%.
What the Zacks Model Unveils
Our proven Zacks model predicts an earnings beat for Southern Copper this time around. This is because the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is exactly the case here. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: The Earnings ESP for Southern Copper is +2.07%.
Zacks Rank: Southern Copper currently carries a Zacks Rank of 3.
Key Factors to Note
Copper accounts for more than 80% of the company’s sales. Over the past few quarters, the company has been witnessing lower production at its Peruvian mines due to lower ore grades and this is expected to continue through 2022. Consequently, the third-quarter production numbers are likely to reflect this impact. This may, however, be somewhat offset by higher production at its Mexican mines and its Mexican underground operations (IMMSA unit) owing to increased production at the San Martin mine.
Overall silver production is likely to be lower on account of lesser production at Buenavista and IMMSA. Production of molybdenum, its main by-product, has been high due to rising production at the Peruvian mines, namely the Toquepala mine after throughput increased at the new Molybdenum plant, spurred by improvements in ore grades and recoveries at other operations. However, this might have been offset by lower production at Buenavista due to lower grades.
Copper prices have declined in the third quarter amid a stronger dollar and growing concerns about the health of the Chinese real estate market. Nevertheless, average copper prices remained higher than the year ago quarter. Average silver prices have been on a downtrend in the quarter due to reduced industrial demand and expectations of higher interest rates. Average silver prices have been down on a year-over-year basis. This is likely to get reflected in the company’s third-quarter top line. Operating cash costs are expected to have been higher in the to-be-reported quarter due to lower grades. This might have weighed on margins.
Share Price Performance
Image Source: Zacks Investment Research
The company’s shares have gained 30.7% over the past year compared with the industry’s rally of 68.0%.
Other Stocks to Consider
Here are some other Basic Materials stocks, which you may consider as our model shows that these too have the right combination of elements to post an earnings beat in their upcoming releases.
Teck Resources Ltd TECK has an Earnings ESP of +9.86% and a Zacks Rank of 1, currently.
Westlake Chemical Corporation WLK, a Zacks #1 Ranked stock, has an Earnings ESP of +1.22%.
WestRock Company WRK has a Zacks Rank #2 and an Earnings ESP of +0.25%, at present.
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Southern Copper Corporation (SCCO) : Free Stock Analysis Report
Westlake Chemical Corporation (WLK) : Free Stock Analysis Report
WestRock Company (WRK) : Free Stock Analysis Report
Teck Resources Ltd (TECK) : Free Stock Analysis Report
To read this article on Zacks.com click here.
The market is roaring off the recent lows. Tech is leading the way for sure, but there are other aspects of the market that could be the next big thing. One way to find these leaders of tomorrow is by leaning on the power of the Zacks Rank. Stocks which are in the good graces of our Zacks Rank have the strongest earnings trends. These strong trends provide the best chance of success in the future. It’s analysts all over Wall Street which impact our Zacks Rank. That way, we are gaining access to a breadth of knowledge, not just a singular analyst’s opinion.
One stock in the good graces of the rank is today’s Bull of the Day, Teck Resources TECK. Teck is a Zacks Rank #1 (Strong Buy) in the Mining – Miscellaneous industry. Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. It operates through Steelmaking Coal, Copper, Zinc, and Energy segments. The company's principal products include steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead and molybdenum concentrates. It also produces gold, silver, germanium, indium, and cadmium, as well as chemicals, industrial products, and fertilizers.
Teck Resources Ltd Price and Consensus
Teck Resources Ltd price-consensus-chart | Teck Resources Ltd Quote
The reason for the favorable rank is the litany of positive earnings estimate revisions coming from analysts. Over the last sixty days, twelve analysts have increased their estimates for next year while ten have increased their numbers for the current year. The bullish move has pushed up our Zacks Consensus Estimates for the current year from $2.35 to $3.22 while next year’s numbers are up from $2.43 to $3.37. That means current year earnings growth is slated to come in at 312% while next year growth cools to 4.72%.
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Teck Resources Ltd (TECK) : Free Stock Analysis Report
To read this article on Zacks.com click here.
CNX Resources Corporation. (CNX) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2021. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.
The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on October 28. On the other hand, if they miss, the stock may move lower.
While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.
Zacks Consensus Estimate
This company is expected to post quarterly earnings of $0.31 per share in its upcoming report, which represents a year-over-year change of +675%.
Revenues are expected to be $432.28 million, up 554.2% from the year-ago quarter.
Estimate Revisions Trend
The consensus EPS estimate for the quarter has been revised 21.6% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.
Price, Consensus and EPS Surprise
Earnings Whisper
Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model — the Zacks Earnings ESP (Expected Surprise Prediction).
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for CNX Resources Corporation.
For CNX Resources Corporation.The Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +8.40%.
On the other hand, the stock currently carries a Zacks Rank of #2.
So, this combination indicates that CNX Resources Corporation. Will most likely beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?
Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that CNX Resources Corporation. Would post earnings of $0.25 per share when it actually produced earnings of $0.18, delivering a surprise of -28%.
Over the last four quarters, the company has beaten consensus EPS estimates three times.
Bottom Line
An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
CNX Resources Corporation. Appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
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CNX Resources Corporation. (CNX) : Free Stock Analysis Report
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Freeport-McMoRan Inc. FCX recorded net income (attributable to common stock) of $1.4 billion or 94 cents per share in third-quarter 2021 versus $329 million or 22 cents in the year-ago quarter.
Barring one-time items, adjusted earnings per share came in at 89 cents. The figure beat the Zacks Consensus Estimate of 78 cents.
Revenues rose roughly 58% year over year to $6,083 million. The figure missed the Zacks Consensus Estimate of $6,218.4 million.
The mining giant benefited from higher realized prices and lower costs in the quarter.
FreeportMcMoRan Inc. Price, Consensus and EPS Surprise
FreeportMcMoRan Inc. price-consensus-eps-surprise-chart | FreeportMcMoRan Inc. Quote
Operational Update
Copper production rose 17% year over year to 987 million pounds in the third quarter.
Consolidated sales from mines rose 21.8% year over year to 1,033 million pounds of copper. The company sold 402,000 ounces of gold and 20 million pounds of molybdenum during the quarter.
Consolidated average unit net cash costs per pound of copper were $1.24, down about 6% year over year. The downside was due to reduced leach unit production costs associated with higher recoveries.
Average realized price for copper was $4.20 per pound, up roughly 39.5% year over year. Average realized price per ounce for gold fell around 7.6% year over year to $1,757. Average realized price per pound for molybdenum was $18.61, up around 101.6% year over year.
Financial Position
Cash and cash equivalents at the end of the third quarter were $7,672 million, up 219.3% year over year. The company’s long-term debt was $9,665 million, down around 3.6% year over year.
Cash flows provided by operations were $1,965 million for the third quarter of 2021.
Guidance
For 2021, Freeport anticipates consolidated sales volumes to be roughly 3.8 billion pounds of copper.
The company also expects gold sales volumes of 1.3 million ounces for 2021. It also expects sales of 85 million pounds of molybdenum for the year.
For the fourth quarter of 2021, Freeport expects sales volumes to be 1,025 million pounds of copper, 375,000 ounces of gold and 22 million pounds of molybdenum.
Price Performance
Freeport’s shares have rallied 112.1% in the past year compared with a 67.4% rise of the industry.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Freeport currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Nucor Corporation NUE, The Chemours Company CC and Olin Corporation OLN.
Nucor has a projected earnings growth rate of around 581.1% for the current year. The company’s shares have soared 111.2% in a year. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Chemours has an expected earnings growth rate of around 86.4% for the current year. The company’s shares have gained 41.1% in the past year. It currently carries a Zacks Rank #2 (Buy).
Olin has an expected earnings growth rate of around 677% for the current year. The company’s shares have surged 209.3% in the past year. It currently flaunts a Zacks Rank #1.
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FreeportMcMoRan Inc. (FCX) : Free Stock Analysis Report
Nucor Corporation (NUE) : Free Stock Analysis Report
Olin Corporation (OLN) : Free Stock Analysis Report
The Chemours Company (CC) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Freeport-McMoRan earnings topped estimates, even though revenue fell a bit short. FCX slipped as copper prices fell, but a new buy point is near.
VANCOUVER, BC, Oct. 21, 2021 /CNW/ – The following issues have been halted by IIROC:
Company: Dajin Lithium Corp.
TSX-Venture Symbol: DJI
All Issues: Yes
Reason: At the Request of the Company Pending News
Halt Time (ET): 7:45 AM
IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.
SOURCE Investment Industry Regulatory Organization of Canada (IIROC) – Halts/Resumptions
View original content: http://www.newswire.ca/en/releases/archive/October2021/21/c8347.html
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
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1 |
Details of the person discharging managerial responsibilities / person closely associated |
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Name |
La Mancha Investments SARL |
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2 |
Reason for the notification |
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Position/status |
Closely associated person of Naguib Sawiris, Director |
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
Endeavour Mining plc |
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b) |
Legal Entity Identifier code (LEI) |
529900NI5MXQ91GHXR07 |
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4 |
Details of the transaction: |
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a) |
Description of the financial instrument, type of instrument |
Debt Instrument |
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Identification code |
29261HAA3 |
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b) |
Nature of the transaction |
Acquisition |
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c) |
Currency |
USD |
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d) |
Price and volume |
Price |
Volume |
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98.913 |
10,000,000 |
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Total |
9,891,300 |
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e) |
Date of the transaction |
7 October 2021 |
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f) |
Place of the transaction |
GEM Market of Euronext Dublin |
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Attachment
KELOWNA, BC / ACCESSWIRE / October 21, 2021 / Diamcor Mining Inc. (TSXV:DMI)(OTCQB:DMIFF)(FRA:DC3A), ("Diamcor" or, the "Company") announced today it continued to achieve significant results in this quarter's initial tender and sale of rough diamonds recovered from the processing of quarry material through its recently upgraded processing facilities at the Company's Krone Endora at Venetia Project (the "Project"). In this sale completed just weeks into the quarter, a total of 2,516.91 carats of rough diamonds were sold, generating gross revenues of USD $483,422.14, resulting in an average price of USD $192.07 per carat for these diamonds. The Company is targeting two additional tender and sales during the quarter in conjunction with the Company's long-standing associates, Koin International, at their new state of the art tender facilities in Dubai, UAE.
"We are very pleased with the results of this tender and sale in just the first two weeks of this quarter," stated Mr. Dean Taylor, Diamcor CEO. "In addition to these excellent results and positive start to the quarter, the recently completed phase one upgrades are continuing to demonstrate their potential for even further increases in processing volumes over the coming weeks".
Acceleration of Expiry Date for Amended Warrants
Further to the warrant amendments announced in the Company's news releases dated June 4, 2021 and August 6, 2021, the required accelerated expiry provision in the amended warrant terms has been triggered by virtue of the closing price of the Company's shares having exceed $0.375 for 10 consecutive trading days (the "Premium Trading Days"). The tenth Premium Trading Day occurred on October 19, 2021. Accordingly, in accordance with TSX Venture Exchange policy, a reduced exercise period of 30 days will begin on October 21, 2021. As a result, the amended warrants will now expire on November 20, 2021.
Expiring Warrants
The two tranches of warrants (collectively, the "Expiring Warrants") affected by the automatic acceleration of the expiry date are:
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2,857,975 warrants issued pursuant to a Private Placement financing by the Company that closed in June 2018 which were issued at $0.60 with an expiry date of June 20, 2021 and were subsequently repriced to $0.30 and extended up to a year, and
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1,755,157 warrants issued pursuant to a Private Placement financing by the Company that closed in August 2018 which were issued at $0.60 with an expiry date of August 29, 2021 and were subsequently repriced to $0.30 and extended up to a year.
The new expiry date of the warrants listed above is November 20, 2021. Any warrants that are unexercised will expire and be cancelled after 5:00 p.m. (Pacific time) on November 20, 2021.
Expiring Warrants Background
On October 19, 2021, Diamcor's share price closed at $0.465, after closing at or above $0.375 for a period of 10 consecutive trading days. Based on the terms of the TSX Venture Exchange's warrant repricing policies in respect to the Company's Expiring Warrants, this triggers a required acceleration of the Expiry Date of the Expiring Warrants held by shareholders who participated in the respective private placements detailed in the Company's news releases dated June 20, 2018 and August 29, 2018. The exercise period of the Expiring Warrants has been accelerated to a date that is 30 days subsequent to formal Company notification as established by this news release. The new Expiry Date of the Expiring Warrants is November 20, 2021. Any Expiring Warrants that are unexercised will expire and be cancelled after 5:00 p.m. (Pacific time) on November 20, 2021.
About Diamcor Mining Inc.
Diamcor Mining Inc. is a fully reporting publicly traded junior diamond mining company which is listed on the TSX Venture Exchange under the symbol V.DMI, and on the OTC QB International under the symbol DMIFF. The Company has a well-established operational and production history in South Africa and extensive prior experience supplying rough diamonds to the world market.
About the Tiffany & Co. Alliance
The Company has established a long-term strategic alliance and first right of refusal with Tiffany & Co. Canada, a subsidiary of world famous New York based Tiffany & Co., to purchase up to 100% of the future production of rough diamonds from the Krone-Endora at Venetia Project at then current prices to be determined by the parties on an ongoing basis. In conjunction with this first right of refusal, Tiffany & Co. Canada also provided the Company with financing to advance the Project. Tiffany & Co. is owned by Moet Hennessy Louis Vuitton SE (LVMH), a publicly traded company which is listed on the Paris Stock Exchange (Euronext) under the symbol LVMH and on the OTC under the symbol LVMHF. For additional information on Tiffany & Co., please visit their website at www.tiffany.com.
About Krone-Endora at Venetia
In February 2011, Diamcor acquired the Krone-Endora at Venetia Project from De Beers Consolidated Mines Limited, consisting of the prospecting rights over the farms Krone 104 and Endora 66, which represent a combined surface area of approximately 5,888 hectares directly adjacent to De Beers' flagship Venetia Diamond Mine in South Africa. On September 11, 2014, the Company announced that the South African Department of Mineral Resources had granted a Mining Right for the Krone-Endora at Venetia Project encompassing 657.71 hectares of the Project's total area of 5,888 hectares. The Company has also submitted an application for a mining right over the remaining areas of the Project. The deposits which occur on the properties of Krone and Endora have been identified as a higher-grade "Alluvial" basal deposit which is covered by a lower-grade upper "Eluvial" deposit. The deposits are proposed to be the result of the direct-shift (in respect to the "Eluvial" deposit) and erosion (in respect to the "Alluvial" deposit) of material from the higher grounds of the adjacent Venetia Kimberlite areas. The deposits on Krone-Endora occur in two layers with a maximum total depth of approximately 15.0 metres from surface to bedrock, allowing for a very low-cost mining operation to be employed with the potential for near-term diamond production from a known high-quality source. Krone-Endora also benefits from the significant development of infrastructure and services already in place due to its location directly adjacent to the Venetia Mine.
Qualified Person Statement:
Mr. James P. Hawkins (B.Sc., P.Geo.), is Manager of Exploration & Special Projects for Diamcor Mining Inc., and the Qualified Person in accordance with National Instrument 43-101 responsible for overseeing the execution of Diamcor's exploration programmes and a Member of the Association of Professional Engineers and Geoscientists of Alberta ("APEGA"). Mr. Hawkins has reviewed this press release and approved of its contents.
On behalf of the Board of Directors
Mr. Dean H. Taylor
President & CEO
Diamcor Mining Inc.
www.diamcormining.com
For further information contact:
Mr. Dean H. Taylor
Diamcor Mining Inc
DeanT@Diamcor.com
+1 250 862-3212
Mr. Rich Matthews
Integrous Communications
rmatthews@integcom.us
+1 (604) -757-7179
This press release contains certain forward-looking statements. While these forward-looking statements represent our best current judgement, they are subject to a variety of risks and uncertainties that are beyond the Company's ability to control or predict and which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Further, the Company expressly disclaims any obligation to update any forward looking statements. Accordingly, readers should not place undue reliance on forward-looking statements.
WE SEEK SAFE HARBOUR
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.
SOURCE: Diamcor Mining Inc.
View source version on accesswire.com:
https://www.accesswire.com/669022/Diamcor-Announces-Results-of-Initial-Tender-and-Acceleration-of-Expiry-Date-for-Amended-Warrants
Wall Street expects a year-over-year increase in earnings on higher revenues when Great Western Bancorp (GWB) reports results for the quarter ended September 2021. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.
The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on October 28. On the other hand, if they miss, the stock may move lower.
While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.
Zacks Consensus Estimate
This holding company for Great Western Bank is expected to post quarterly earnings of $0.75 per share in its upcoming report, which represents a year-over-year change of +275%.
Revenues are expected to be $111.27 million, up 9% from the year-ago quarter.
Estimate Revisions Trend
The consensus EPS estimate for the quarter has been revised 0.23% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.
Price, Consensus and EPS Surprise
Earnings Whisper
Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model — the Zacks Earnings ESP (Expected Surprise Prediction).
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Great Western Bancorp?
For Great Western Bancorp, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -6.87%.
On the other hand, the stock currently carries a Zacks Rank of #4.
So, this combination makes it difficult to conclusively predict that Great Western Bancorp will beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?
Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Great Western Bancorp would post earnings of $0.76 per share when it actually produced earnings of $1.06, delivering a surprise of +39.47%.
Over the last four quarters, the company has beaten consensus EPS estimates three times.
Bottom Line
An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Great Western Bancorp doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
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