In this article, we discuss the 10 best copper stocks to buy now. If you want to skip our detailed analysis of these stocks, go directly to the 5 Best Copper Stocks to Buy Now.

Copper is on track to become the new gold as the gap between supply and demand widens. According to a prediction by Bank of America, the price of copper could climb to $20,000 per metric ton within the next three years. However, the copper industry has been hit in recent weeks as the US prepares to lift interest rates, sending the price of the dollar surging and reducing the demand for the metal. In a double blow to the industry, China has announced that it will release the metal from national reserves in a bid to control commodity prices.

These developments have hit the copper industry that was on a bull run following the rise in demand for the metal as the economy reopened following the pandemic lockdowns. Copper is used in many electrical products like wires, motors, mobile devices, and others. It is also used in consumer ware and interior components of housing. Lately, as the demand for electric vehicles rises, copper is rapidly being consumed as it offers durability, high conductivity and efficiency, and is used in EV vehicles, charging stations, and other EV-related products.

Some of the companies that are at the forefront of copper production and could cash in on the expected boom for the metal in the long-term include Freeport-McMoRan Inc. (NYSE: FCX), Rio Tinto Group (NYSE: RIO), and Newmont Corporation (NYSE: NEM). In February, Freeport-McMoRan Inc. (NYSE: FCX) CEO Richard Adkerson announced that the firm was seeking to approve expansions at US-based copper mines to keep up with the surging demand, especially as copper was a central product for the new climate projects of the US government.

Meanwhile, Rio Tinto Group (NYSE: RIO), the United Kingdom-based mining firm, posted its biggest annual profit since 2011 in February as rising metals prices boosted revenue. It also declared the biggest dividend in its almost 15-decade-long history, totaling over $9 billion in payments to shareholders for 2020. Although this rise in earnings is largely attributed to the soaring price of iron, which accounts for more than 90% of the total earnings, the surge in copper prices also gave a firm push as it delivered a record quarter at the end of 2020.

Newmont Corporation (NYSE: NEM), the largest gold mining firm in the world, has also benefited from the copper business over the past few months. In April, the firm was named among the highest convictions picks for the second quarter by Bank of America. The company beat market expectations on earnings per share for the fourth quarter of 2020 even as gold production fell because of rising prices. In February, the firm hiked the quarterly dividend payment by a whopping 38%.

It remains to be seen how these companies weather the bear tailwinds in the coming months. Stock volatility in the past few years has pummeled entire investment portfolios in the past few years. The entire hedge fund industry is feeling the reverberations of the changing financial landscape. Its reputation has been tarnished in the last decade, during which its hedged returns couldn’t keep up with the unhedged returns of the market indices. On the other hand, Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 124 percentage points since March 2017. Between March 2017 and February 26th 2021 our monthly newsletter’s stock picks returned 197.2%, vs. 72.4% for the SPY. Our stock picks outperformed the market by more than 124 percentage points (see the details here). We were also able to identify in advance a select group of hedge fund holdings that significantly underperformed the market. We have been tracking and sharing the list of these stocks since February 2017 and they lost 13% through November 16th. That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox.

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With this context in mind, here is our list of the 10 best copper stocks to buy now. These were selected keeping in mind annual copper production, hedge fund sentiment, and the business fundamentals underlying each company.

Best Copper Stocks to Buy Now

10. Barrick Gold Corporation (NYSE: GOLD)

Number of Hedge Fund Holders: 49

Barrick Gold Corporation (NYSE: GOLD) is a mining firm that focuses on the extraction and development of gold and copper. It has operations in more than 10 countries around the world. It is placed tenth on our list of 10 best copper stocks to buy now. The stock has offered investors returns exceeding 2.8% over the past three months. In the first quarter of 2021, a surge in prices helped the firm with a 31% quarter-to-quarter increase in revenue from copper mines in Chile, Saudi Arabia and Zambia.

On June 4, Barrick Gold Corporation (NYSE: GOLD) Mark Bristow told the media that the company hoped to restart a mining operation in Papua New Guinea (PNG) under a new deal that would exploit the resources in the operation under a joint venture with PNG stakeholders.

At the end of the first quarter of 2021, 49 hedge funds in the database of Insider Monkey held stakes worth $1.3 billion in Barrick Gold Corporation (NYSE: GOLD), down from 53 the preceding quarter worth $1.7 billion.

Just like Freeport-McMoRan Inc. (NYSE: FCX), Rio Tinto Group (NYSE: RIO), and Newmont Corporation (NYSE: NEM), Barrick Gold Corporation (NYSE: GOLD) is one of the best copper stocks to buy now.

In its Q4 2020 investor letter, GoodHaven Capital Management, an asset management firm, highlighted a few stocks and Barrick Gold Corporation (NYSE: GOLD) was one of them. Here is what the fund said:

9. Teck Resources Limited (NYSE: TECK)

Number of Hedge Fund Holders: 30

Teck Resources Limited (NYSE:TECK) is a natural resources firm that engages in the mining of copper, zinc, and other metals. It is ranked ninth on our list of 10 best copper stocks to buy now. The stock has returned more than 102% to investors in the past twelve months. The firm has mining interests in many countries, including Australia, Chile, Ireland, Mexico, Peru, Turkey, and the United States, among others. The firm is one of the biggest copper producers in the world with copper mines in Canada and South America.

On May 26, investment advisory Deutsche Bank upgraded Teck Resources Limited (NYSE:TECK) stock to Buy from Hold with a price target of $30 on the back of growth potential with regards to the QB2 copper project and the returns it promised in the medium term.

Out of the hedge funds being tracked by Insider Monkey, Boston-based investment firm Arrowstreet Capital is a leading shareholder in Teck Resources Limited (NYSE:TECK) with 9.3 million shares worth more than $179 million.

Just like Freeport-McMoRan Inc. (NYSE: FCX), Rio Tinto Group (NYSE: RIO), and Newmont Corporation (NYSE: NEM), Teck Resources Limited (NYSE:TECK) is one of the best copper stocks to buy now.

8. Vale S.A. (NYSE: VALE)

Number of Hedge Fund Holders: 31

Vale S.A. (NYSE: VALE) is a metals mining company that concentrates on the production of iron ore, nickel, and other metals. The firm is one of the largest ones in Brazil and markets logistical services related to these metals in addition to mining and development. It is placed eighth on our list of 10 best copper stocks to buy now. The company’s shares have returned more than 109% to investors over the past twelve months. Last year, the firm produced almost 360,000 metric tons of copper.

On June 4, Vale S.A. (NYSE: VALE) halted production at two mines in the Minas Gerais region of Brazil after local officials evacuated people from nearby the site of Xingu dam. Brazilian officials have said that the dam is close to collapsing but Vale disputes this.

Out of the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management is a leading shareholder in Vale S.A. (NYSE: VALE) with 38 million shares worth more than $661 million.

Just like Freeport-McMoRan Inc. (NYSE: FCX), Rio Tinto Group (NYSE: RIO), and Newmont Corporation (NYSE: NEM), Vale S.A. (NYSE: VALE) is one of the best copper stocks to buy now.

7. BHP Group (NYSE: BHP)

Number of Hedge Fund Holders: 18

BHP Group (NYSE: BHP) is an Australian natural resources firm with interests in petroleum, copper, iron, and coal. The firm owns a copper mine in Chile, as well as other copper-related assets elsewhere. It produced more than 1.3 million tons of copper in 2020. The firm owns a copper mine in South Australia. It is ranked seventh on our list of 10 best copper stocks to buy now. The stock has returned more than 43% to investors over the past year.

On June 11, BHP Group (NYSE: BHP) shares jumped close to 1% as the firm announced that workers at a copper mine in Chile had accepted work contracts, putting an end to rumors about a strike that could have hit the mine and global copper production.

Out of the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management is a leading shareholder in BHP Group (NYSE: BHP) with 7.9 million shares worth more than $553 million.

Just like Freeport-McMoRan Inc. (NYSE: FCX), Rio Tinto Group (NYSE: RIO), and Newmont Corporation (NYSE: NEM), BHP Group (NYSE: BHP) is one of the best copper stocks to buy now.

6. Turquoise Hill Resources Ltd. (NYSE: TRQ)

Number of Hedge Fund Holders: 13

Turquoise Hill Resources Ltd. (NYSE: TRQ) is a mineral exploration and development company. It is placed sixth on our list of 10 best copper stocks to buy now. The stock has returned more than 142% to investors in the past twelve months. The company concentrates on operations related to copper, gold, and silver. In 2020, the firm produced 149,631 tons of copper, beating guidance of 140,000 tons.

On May 12, Turquoise Hill Resources Ltd. (NYSE: TRQ) posted earnings results for the first quarter of 2021, reporting earnings per share of $1.18, beating market expectations by $0.63. The revenue over the period was more than $520 million, up 302% year-on-year.

At the end of the first quarter of 2021, 13 hedge funds in the database of Insider Monkey held stakes worth $575 million in Turquoise Hill Resources Ltd. (NYSE: TRQ), up from 12 in the previous quarter worth $374 million.

Just like Freeport-McMoRan Inc. (NYSE: FCX), Rio Tinto Group (NYSE: RIO), and Newmont Corporation (NYSE: NEM), Turquoise Hill Resources Ltd. (NYSE: TRQ) is one of the best copper stocks to buy now.

Click to continue reading and see 5 Best Copper Stocks to Buy Now.

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Disclose. None. 10 Best Copper Stocks to Buy Now is originally published on Insider Monkey.

MELBOURNE, Australia, Jun 21, 2021–(BUSINESS WIRE)–Rio Tinto will deploy the world’s first fully autonomous water trucks at its $2.6 billion Gudai-Darri iron ore mine in Western Australia’s Pilbara region. The new vehicles, primarily used for dust suppression on site, will enhance productivity by enabling mine operations to digitally track water consumption and reduce waste.

Developed through a successful collaboration with leading equipment manufacturer, Caterpillar, three water trucks will join Gudai-Darri’s fleet of Caterpillar heavy mobile equipment including autonomous haul trucks and production drills. The vehicle’s intelligent on-board system detects dry and dusty conditions on site, triggering the application of water to roads to keep them in good condition.

The refilling process is also completely automated with the water trucks recognising when it is time to refill, prompting them to self-drive to the water stand, park and top-up before returning to the field. They boast a 160,000-litre tank capacity, a 33 per cent increase on Rio Tinto’s largest water truck which has a tank capacity of 120,000-litres.

Once deployed, the water trucks will be integrated into Rio Tinto’s existing Autonomous Haulage System which has been shown to significantly improve safety by reducing the risks associated with operators working around heavy machinery.

Rio Tinto Iron Ore chief executive Simon Trott said "We have worked closely with Caterpillar to safely and successfully deploy the world’s first fully autonomous water truck. Water spraying is a vital part of mining operations and this new technology will improve productivity and reduce water usage across our operations.

"The continued expansion of our autonomous fleet helps improve safety and continues Rio Tinto’s efforts to adopt world-leading technology to enhance our operations and realise our vision of making Gudai-Darri one of the world’s most technologically advanced mines."

Caterpillar Resource Industries Group President Denise Johnson added "We are pleased to work with Rio Tinto to introduce the next innovation in mining automation. Rio continues to pioneer technology advancements and the water truck, working in conjunction with the autonomous hauling trucks and drills, will further accelerate Rio Tinto’s site performance. This is another important step in our continual journey in autonomous solutions for our customers."

Notes for editors

Gudai-Darri is 100 per cent owned by Rio Tinto, is located approximately 35 kilometres north-west of Rio Tinto’s Yandicoogina mine site, and about 110 kilometres from the town of Newman in the Pilbara region of Western Australia.

Construction continues to progress with production ramp-up on track for early 2022. Once complete, the mine will have an annual capacity of 43 million tonnes, underpinning production of the Pilbara Blend, Rio Tinto’s flagship iron ore product.

Rio Tinto’s relationship with Caterpillar extends over 50 years. Caterpillar was founded in 1925 and is an industry leading manufacturer of construction and mining equipment, diesel and natural gas engines as well as gas turbines and diesel-electric locomotives.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210621005358/en/

Contacts

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Category: general

Rio Tinto and other mining giants dragged stocks in London lower on Monday, amid fears that commodity prices were near the top of a cycle and weakness in both iron ore and copper.

Today we'll do a simple run through of a valuation method used to estimate the attractiveness of BHP Group (ASX:BHP) as an investment opportunity by taking the forecast future cash flows of the company and discounting them back to today's value. We will take advantage of the Discounted Cash Flow (DCF) model for this purpose. Models like these may appear beyond the comprehension of a lay person, but they're fairly easy to follow.

Remember though, that there are many ways to estimate a company's value, and a DCF is just one method. For those who are keen learners of equity analysis, the Simply Wall St analysis model here may be something of interest to you.

See our latest analysis for BHP Group

Crunching the numbers

We use what is known as a 2-stage model, which simply means we have two different periods of growth rates for the company's cash flows. Generally the first stage is higher growth, and the second stage is a lower growth phase. To begin with, we have to get estimates of the next ten years of cash flows. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.

A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, so we need to discount the sum of these future cash flows to arrive at a present value estimate:

10-year free cash flow (FCF) estimate

("Est" = FCF growth rate estimated by Simply Wall St)
Present Value of 10-year Cash Flow (PVCF) = US$88b

The second stage is also known as Terminal Value, this is the business's cash flow after the first stage. The Gordon Growth formula is used to calculate Terminal Value at a future annual growth rate equal to the 5-year average of the 10-year government bond yield of 1.9%. We discount the terminal cash flows to today's value at a cost of equity of 7.2%.

Terminal Value (TV)= FCF₂₀₃₀ × (1 + g) ÷ (r – g) = US$9.4b× (1 + 1.9%) ÷ (7.2%– 1.9%) = US$182b

Present Value of Terminal Value (PVTV)= TV / (1 + r)¹⁰= US$182b÷ ( 1 + 7.2%)¹⁰= US$91b

The total value is the sum of cash flows for the next ten years plus the discounted terminal value, which results in the Total Equity Value, which in this case is US$179b. The last step is to then divide the equity value by the number of shares outstanding. Relative to the current share price of AU$46.5, the company appears about fair value at a 1.7% discount to where the stock price trades currently. Remember though, that this is just an approximate valuation, and like any complex formula – garbage in, garbage out.

The assumptions

We would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows. If you don't agree with these result, have a go at the calculation yourself and play with the assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at BHP Group as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 7.2%, which is based on a levered beta of 1.109. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business.

Moving On:

Although the valuation of a company is important, it shouldn't be the only metric you look at when researching a company. It's not possible to obtain a foolproof valuation with a DCF model. Instead the best use for a DCF model is to test certain assumptions and theories to see if they would lead to the company being undervalued or overvalued. For example, changes in the company's cost of equity or the risk free rate can significantly impact the valuation. For BHP Group, we've compiled three fundamental factors you should consider:

1. Risks: Be aware that BHP Group is showing 2 warning signs in our investment analysis , and 1 of those can't be ignored…

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

3. Other Solid Businesses: Low debt, high returns on equity and good past performance are fundamental to a strong business. Why not explore our interactive list of stocks with solid business fundamentals to see if there are other companies you may not have considered!

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

This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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

Photo by Dominik Vanyi on Unsplash

As the U.S. economy grows at its fastest rate since the 1980s, mining companies are benefiting from a price surge in metals like copper, nickel and aluminum. Behind that price surge is the anticipation of renewed investment in infrastructure and manufacturing, two sectors where mined resources are key components of building and developing new technology.

American Pacific Mining (OTCQB: USGDF), the Canadian-based company focused on copper, gold and silver exploration in the western United States, is one of the rising companies in the space that’s been attracting new investors interested in adding mining stocks to their portfolio. Key acquisitions and a joint venture agreement with the major mining company, Rio Tinto (OTCMKTS: RTNTF) are among the main factors driving investor interest in the high-growth potential stock.

Rio Tinto Began Drilling at the Madison Copper Gold Project

Kennecott Exploration, a division of Rio Tinto, is funding the exploration of the past-producing Madison Copper Gold Project in Montana this year after results from previous drilling campaigns demonstrated high-grade copper and gold potential at the project. The Madison project has a rich history of high grade production, churning out 2.7B pounds of copper with grades ranging from 20% to over 35% and 7,570 ounces of gold at 16.1 grams per tonne between 2008 and 2012. Industry insiders know that high grades like these are phenomenal. American Pacific inherited the earn-in agreement and option to joint venture with Rio Tinto on Madison when it acquired the Madison project last year.

This partnership with a major mining company like Rio Tinto is one of the key signals investors look for in evaluating smaller cap mining stocks. Founded in 1873, Rio Tinto is one of the world’s largest mining companies and owns and operates mines, mills and other facilities around the world. A company as established as Rio Tinto is known for doing significant due diligence before agreeing to be involved in a project. That it’s chosen to invest so much time and capital into the Madison project is a strong testament to the potential at American Pacific Mining’s flagship asset.

Not only does it signal the project’s potential, but it also mitigates much of the risks typically associated with exploration projects. As the operator, Rio Tinto is not only covering the cost of drilling, but it is drilling the project as well, lending its extensive operational expertise, both of which free the junior exploration company from the burden of the financing risk and operation risk for this project.

Investors who buy shares of American Pacific Mining see this as an opportunity to benefit from the added reassurance of a major mining company partnership while paying junior mining stock prices.

Michael Gentile Becomes Strategic Investor in American Pacific Mining

One investor of note is Michael Gentile, CFA. The former portfolio manager for the $2 billion Montreal-based Formula Growth Fund bought a near 20% stake in the company earlier this year, becoming a strategic investor.

During his 15-year tenure at the Formula Growth Fund, Gentile focused on finding promising junior mining and natural resource companies to add to the fund. Since retiring, Gentile has become an active strategic investor, owning a top 5 stake in more than 15 small cap mining companies.

The latest small cap mining company to be added to his portfolio is American Pacific Mining, but the strategic investor with his decades of mining investing expertise is also a strategic advisor to Arizona Metals (OTCMKTS: AZMCF). Headquartered in Toronto, Arizona Metals is a mineral exploration company whose stock has skyrocketed in the past 6 months from $0.76 at the close of 2020 to over $4 in June amid news of new gold-zinc discoveries and the close of a $21,000,000 bought deal offering.

With the combined track record of due diligence in identifying small cap mining stocks for the Formula Growth Fund and the success of the exploration companies currently in his portfolio, Michael Gentile’s investment in American Pacific Mining is seen by many investors as another strong signal of the junior exploration company’s growth potential.

For investors who are new to mining stocks, finding the right ones for your portfolio can be a daunting task as mining company business models are drastically different from other businesses and the mining industry can be hard to evaluate without extensive expertise in the industry. Tracking the investing activities of major mining companies like Rio Tinto that do extensive due diligence before investing in a project and aligning with strategic investors possessing insider knowledge of the industry are two of the best ways to work around those challenges.

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Friday, June 18, 2021

The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Abbott Laboratories (ABT), Bank of America (BAC), and PayPal Holdings (PYPL). These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.

You can see all of today’s research reports here >>>

Shares of Abbott have underperformed the Zacks Medical Products industry in the year-to-date period (+1.8% vs. +3.8%). The Zacks analyst believes that the branded generics and international diabetes businesses should drive growth in the coming quarters. Further, new product launches and acquisitions are likely to boost Abbott’s sales further.

The company posted robust year-over-year improvements in the first quarter. It registered organic sales growth across most operating segments. Further, Diabetes Care sales were strong on the back of solid worldwide adoption of FreeStyle Libre. However, the company’s disappointing performance in the Pediatric Nutrition unit remains a major concern.

(You can read the full research report on Abbott here >>>)

Bank of America shares have gained +31.4% over the last six months against the Zacks Major Regional Banks industry’s gain of +27.9%. The Zacks analyst believes that opening of new branches, enhanced digital offerings, strategic acquisitions and efforts to manage expenses will continue to support the company’s profitability in the near term.

Moreover, a strong balance sheet and liquidity position are expected to continue aiding financials. However, lower interest rates and the Federal Reserve signaling no near-term chance of change in the same are expected to keep hurting the bank’s margins and interest income.

(You can read the full research report on Bank of America here >>>)

Shares of PayPal have gained +14.7% in the past three months against the Zacks Internet Software industry’s gain of +1%. The Zacks analyst believes that PayPal is benefiting from robust growth in total payments volume on the back of increasing net new active accounts. Moreover, strengthening customer engagement on the company’s platform is another positive.

Solid momentum of core peer to peer and PayPal Checkout experiences is a tailwind. Also, accelerating transaction revenues of PayPal are likely to continue driving revenues. However, increasing credit loss reserves due to macroeconomic projections on account of the ongoing pandemic remains a matter of concern.

(You can read the full research report on PayPal here >>>)

Other noteworthy reports we are featuring today include The Procter & Gamble (PG), BHP Group (BHP) and Boeing (BA).

Zacks Names “Single Best Pick to Double”

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.

Free: See Our Top Stock and 4 Runners Up >>

Sheraz Mian

Director of Research

Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>

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Abbott (ABT) Base Business Rebounds, Drop in FY View Ails

Expense Saving Supports Bank of America (BAC) Amid Low Rates

PayPal (PYPL) Benefits From Increasing Total Payment Volume

Featured Reports

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Per the Zacks analyst, P&G has been witnessing cost-savings and efficiency gains across all its business driven by the productivity program.

Liquidity, High Iron Prices Aid BHP Group (BHP), Costs Hurt

The Zacks analyst believes BHP's strong cash flow, focus on lowering debt, higher iron prices, and efforts to make operations more efficient will drive growth despite higher costs.

Strategic Mergers Aid Boeing (BA), Low 737 Deliveries Hurt

Per the Zacks Analyst, strategic mergers made by Boeing, such as overtaking KLX, boost growth. However, low 737 deliveries as a result of the worldwide grounding of 737 Max jets raises concerns.

ConocoPhillips (COP) Banks on Oil-Rich Permian Footprint

The Zacks analyst expects ConocoPhillips to boost production from lucrative oil resources in the prolific Permian Basin.

New Product Development, Wide Market Reach Aid Eaton (ETN)

Per the Zacks analyst, Eaton's operations in 175 countries across the world and the development of new products through ongoing R&D investments will continue to drive demand and boost profitability.

Strategic Initiatives Benefit Aon (AON), Rising Debts Hurt

Per the Zacks analyst, buyouts and collaborations have enhanced the company's capabilities, which in turn, has led to bottom-line growth.

T. Rowe (TROW) Rides on Organic Growth Moves Amid High Costs

As per Zacks analyst, organic growth-focused initiatives and a debt-free position along with substantial liquidity might continue to support T. Rowe Price.

New Upgrades

International Paper (IP) Rides on Favorable Demand, Buyouts

The Zacks analyst expects International Paper to gain from elevated packaging demand as well as focus on strategic acquisitions to strengthen its packaging business.

Western Digital (WDC) Rides on High-Capacity HDD Adoption

Per the Zacks analyst, Western Digital is benefiting from demand for high-capacity energy-assisted drives (16 and 18 terabytes) and its second-generation NVMe enterprise solid-state drives (SSDs).

Strength in E-Commerce Drives PVH Corp's (PVH) Top Line

Per the Zacks analyst, PVH Corp is gaining from solid online sales in all regions and brands, even after stores reopened. Notably, revenues in digital commerce unit surged 66% year over year in Q1.

New Downgrades

Debt Maturity Profile to Weigh on Canadian Natural (CNQ)

The Zacks analyst is worried that the company is set to face debt maturities each year out till 2027, thereby exposing it to refinancing risk at a time of extremely volatile commodity prices.

Stiff Competitive Landscape, Forex Woes Ail Abiomed (ABMD)

The Zacks analyst is worried about Abiomed facing fierce competition in the field of treatments for heart-related diseases. Unfavorable currency movements are an added issue.

Cat Loss Exposure, Rising Expenses Hurt CNA Financial (CNA)

Per the Zacks analyst, CNA Financial's exposure to catastrophe loss induces underwriting volatility thus profitability while rising expenses affecting net operating income concerns.

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Vancouver, British Columbia–(Newsfile Corp. – June 18, 2021) – Quaterra Resources Inc. (OTCQB: QTRRF) (TSXV: QTA) ("Quaterra" or the "Company") is pleased to announce that all resolutions set out in the Company's notice of meeting and information circular were passed by shareholders at the Company's Annual General Meeting held on June 17, 2021. A total of 80,209,430 common shares were represented at the meeting representing 35.94% of the Company's outstanding common shares.

At the meeting, shareholders approved the appointment of PricewaterhouseCoopers LLP as auditors of the Company for the ensuing year. In addition, shareholders ratified the Company's 10% rolling stock option plan, and the Company's Shareholder Rights Plan. A copy of the Shareholder Rights Plan is available under the Company's profile on SEDAR at www.sedar.com. The Shareholder Right's Plan has been approved by the TSX Venture Exchange and requires ratification by shareholder resolution every three years.

At the meeting, shareholders also re-elected the following four directors: Thomas Patton, John Kerr, LeRoy Wilkes and Terry Eyton. Following the shareholder meeting, the board of directors appointed Travis Naugle as an additional director, and reappointed the following officers: Thomas Patton as Chairman, Travis Naugle as CEO, Stephen Goodman as President, Lei Wang as CFO and Lawrence Page, Q.C. as Corporate Secretary.

The Company also announces that it has granted 4,950,000 incentive stock options to directors, officers, employees and consultants pursuant to the Company's stock option plan. The options are exercisable at a price of $0.245 per share for a period of five years.

Drilling Update at MacArthur

On May 4, 2021 Quaterra began a 7,000 ft to 10,000 ft core drilling program at the MacArthur copper project (see News Release of May 7, 2021 for details). As of June 15, 2021 a total of 4,618 ft has been drilled with initial assay results from Skyline Assayers & Laboratories expected in July. The focus of the drill program is to provide additional data required to complete a prefeasibility study on the project including representative metallurgical samples.

About Quaterra Resources Inc.

Quaterra Resources Inc. is a copper-gold exploration company focused on projects with the potential to host large-scale mineral deposits attractive to major mining companies. It is advancing its Yerington copper project in the historic Yerington Copper District, Nevada. It continues to investigate opportunities to acquire prospects in North America on reasonable terms and the partnerships with which to advance them.

On behalf of the Board of Directors,
Stephen Goodman
President

For more information please contact:

Karen Robertson
Corporate Communications
778-898-0057

Jay Oness
Investor Relations
604-808-9479

Email: info@quaterra.com
Website: www.quaterra.com

Some statements in this news release are forward-looking statements under applicable United States and Canadian laws. These statements are subject to risks and uncertainties which may cause results to differ materially from those expressed in the forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date thereof. The Company does not undertake to update any forward-looking statement that may be made from time to time except in accordance with applicable securities laws.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/88004

MELBOURNE, Jun 17, 2021–(BUSINESS WIRE)–Rio Tinto has appointed Peter Cunningham as Chief Financial Officer with immediate effect. Peter, who has been Interim Chief Financial Officer since 1 January 2021, will also join the Rio Tinto Board as an executive director at the same time.

Peter was previously Group Controller and has held a number of senior financial and non-financial leadership positions across Rio Tinto in Australia and the UK. In a career spanning 28 years with Rio Tinto, he has held roles including Global Head of Health, Safety, Environment & Communities; Head of Energy and Climate Strategy; and Head of Investor Relations. Prior to joining Rio Tinto, Peter qualified as a chartered accountant.

Rio Tinto chief executive Jakob Stausholm said "I am delighted to confirm Peter in the role and, having worked closely with him for a number of years, I know he is the ideal person to be our Chief Financial Officer. His detailed knowledge of the company and of the financial and non-financial drivers of our industry will be invaluable as we continue to strengthen Rio Tinto."

Rio Tinto chairman Simon Thompson said "I look forward to Peter joining the Rio Tinto Board and know from experience that his deep understanding of Rio Tinto and commitment to disciplined capital allocation will serve shareholders well and enrich our Board discussions."

Rio Tinto confirms that there are no matters to be disclosed pursuant to Rule 9.6.13(1)-(6) of the Listing Rules of the UK Listing Authority.

Classification: 3.1. Additional regulated information required to be disclosed under the laws of a Member State.

Notes to editors

Peter Cunningham will be issued a standard Rio Tinto executive contract, which includes a 12-month notice period. The remuneration package is in line with our Remuneration Policy approved by shareholders in 2021, and is comprised of the following elements:

• A base salary of £700,000.

• Target annual bonus opportunity at 100 per cent of base salary (with a maximum opportunity of 200 per cent of base salary).

• A long-term incentive plan award of up to 400 per cent of base salary with the first grant to be made in 2022.

• A company pension contribution or a cash allowance in lieu of pension equal to 14 per cent of base salary.

• Other benefits will include company provided health care coverage and eligibility to participate in the all-employee share plans.

• A minimum shareholding requirement of 300 per cent of base salary applies.

Further detail will be disclosed in the 2021 Directors’ Remuneration Report.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210616006071/en/

Contacts

Please direct all enquiries to media.enquiries@riotinto.com

Media Relations, UK

Illtud Harri
M +44 7920 503 600

David Outhwaite
M +44 7787 597 493

Media Relations, Australia

Jonathan Rose
M +61 447 028 913

Matt Chambers
M +61 433 525 739

Jesse Riseborough
M +61 436 653 412

Media Relations, Americas

Matthew Klar
T +1 514 608 4429

Investor Relations, UK

Menno Sanderse
M: +44 7825 195 178

David Ovington
M +44 7920 010 978

Clare Peever
M +44 7788 967 877

Investor Relations, Australia

Natalie Worley
M +61 409 210 462

Amar Jambaa
M +61 472 865 948

Rio Tinto plc

6 St James’s Square
London SW1Y 4AD
United Kingdom

T +44 20 7781 2000
Registered in England
No. 719885

Rio Tinto Limited
Level 7, 360 Collins Street
Melbourne 3000
Australia

T +61 3 9283 3333
Registered in Australia
ABN 96 004 458 404

riotinto.com

Category: general

LONDON, UK / ACCESSWIRE / June 17, 2021 / Horizonte Minerals Plc, (AIM:HZM)(TSX:HZM) ('Horizonte' or 'the Company') the nickel company focused on Brazil, is pleased to provide a financing update for the Araguaia Nickel Project ('Araguaia' or 'the Project') as the Project moves towards construction.

Highlights:

• Credit approval process underway following completion of due diligence by the International Lenders. Credit approval anticipated to be received in Q3 2021.

• Senior Debt Facility expected to benefit from significant Export Credit Agency support.

• Cornerstone strategic investor and final offtake agreements well advanced and expected to be finalised shortly after credit approvals.

The Company has made excellent progress on all key project finance workstreams during the course of 2021 and is pleased to confirm that all five international banks (together the 'International Lenders'), mandated for the US$325 million debt component of the project finance package ('Senior Debt Facility'), have each now commenced with their formal credit approval processes. This follows a comprehensive due diligence process, including technical and environmental and social due diligence undertaken by the International Lenders' independent consultants Micon International Limited and Arcadis respectively, which has confirmed the robust nature of the Project and the best-in-class approach to Environmental, Social and Governance ('ESG') standards that have been employed by Horizonte to date and will continue to be employed during project implementation. Good progress also continues to be made on discussions with Brazilian financial institutions.

As previously announced, the Company has also been in discussions with a number of Export Credit Agencies ('ECA') to provide credit support for a significant portion of the Senior Debt Facility. With the Company close to finalising the selection of key equipment and service providers for the Project, these discussions are now well progressed and a significant level of ECA credit support is now expected.

The receipt of credit approvals from the International Lenders is the catalyst for finalising all other components of the project finance package. Whilst the Company has continued to work towards a target date of the end of H1 2021, the credit approval process is not a timeline Horizonte has control over. The Company is targeting receipt of credit approvals in Q3 2021.

In anticipation of final credit approvals for the Senior Debt Facility, Horizonte has continued to progress all other components of the project finance package and is in detailed documentation with a major cornerstone strategic investor and, having received significant interest in the Araguaia product, is also in final negotiations on a long-term offtake agreement for the Project. These other aspects of the overall project finance package are well advanced, and the Company therefore expects to be in a position to finalise agreements shortly after receiving credit approvals.

Horizonte CEO, Jeremy Martin commented: 'We are now finalising the project financing for Araguaia. A significant amount of work has been completed by the team in the past six months particularly in the comprehensive due diligence process required by the international lenders. I would like to thank everyone involved in this process to enable us to reach this critical point, particularly in their flexibility and dedication in overcoming the challenges the Covid-19 pandemic has caused.

The completion of this rigorous process further underpins Araguaia's tier one status. In addition, the support from Export Credit Agencies as part of the package means we will be shortly finalising the major contracts for project execution enabling us to start construction on close of financing.'

For further information, visit www.horizonteminerals.com or contact:

About Horizonte Minerals:

Horizonte Minerals plc is an AIM and TSX-listed nickel development company focused in Brazil. The Company is developing the Araguaia project, as the next major ferronickel mine in Brazil, and the Vermelho nickel-cobalt project, with the aim of being able to supply nickel and cobalt to the EV battery market. Both projects are 100% owned.

CAUTIONARY STATEMENT REGARDING FORWARD LOOKING INFORMATION

Except for statements of historical fact relating to the Company, certain information contained in this press release constitutes 'forward-looking information' under Canadian securities legislation. Forward-looking information includes, but is not limited to, the ability of the Company to complete the Acquisition as described herein, statements with respect to the potential of the Company's current or future property mineral projects; the success of exploration and mining activities; cost and timing of future exploration, production and development; the estimation of mineral resources and reserves and the ability of the Company to achieve its goals in respect of growing its mineral resources; the ability of the Company to complete the Placing as described herein, and the realization of mineral resource and reserve estimates. Generally, forward-looking information can be identified by the use of forward-looking terminology such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or variations of such words and phrases or statements that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'occur' or 'be achieved'. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, and are inherently subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to risks related to: the inability of the Company to complete the Acquisition as described herein, exploration and mining risks, competition from competitors with greater capital; the Company's lack of experience with respect to development-stage mining operations; fluctuations in metal prices; uninsured risks; environmental and other regulatory requirements; exploration, mining and other licences; the Company's future payment obligations; potential disputes with respect to the Company's title to, and the area of, its mining concessions; the Company's dependence on its ability to obtain sufficient financing in the future; the Company's dependence on its relationships with third parties; the Company's joint ventures; the potential of currency fluctuations and political or economic instability in countries in which the Company operates; currency exchange fluctuations; the Company's ability to manage its growth effectively; the trading market for the ordinary shares of the Company; uncertainty with respect to the Company's plans to continue to develop its operations and new projects; the Company's dependence on key personnel; possible conflicts of interest of directors and officers of the Company, the inability of the Company to complete the Placing on the terms as described herein, and various risks associated with the legal and regulatory framework within which the Company operates. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Horizonte Minerals PLC

View source version on accesswire.com:
https://www.accesswire.com/652071/Horizonte-Minerals-PLC-Announces-Araguaia-Project-Financing-Update

Southern Copper Corporation SCCO has various organic growth projects up its sleeve that will help the company in achieving its target of producing 1.9 million tons (Mt) by 2028. The will aid the company capitalize on the surge in demand for the metal triggered by the global focus on lower-carbon emissions. Backed by world class assets and its incessant focus on cost efficiency, the company is poised well for growth in the long haul.

Through the years, the company’s strong financial discipline has enabled it to make investments in its asset portfolio. It currently has the largest copper reserves in the industry at 67.7 Mt outscoring peers like FreeportMcMoRan Inc. FCX, Codelco and BHP Group BHP with copper reserves of 52.6Mt, 46.6 Mt and 44.4 Mt, respectively.

Roadmap to Copper Production of 1.9 Mt

The road from now to achieving production of 1.9 million tons will be a bit bumpy at the beginning, as the company anticipates lower grades to impact production in 2021 and 2022. However, 2023 is expected to be an inflation year with copper production expected to reach 1,031,000 tons. This will be made possible by the Peruvian production coming back on track and new production on projects of Pilares, El Pilar and Buenavista zinc concentrators.

Southern Copper operates high-quality, world-class assets in investment grade countries, such as Mexico and Peru. Including the Michiquillay ($2.5 billion) and Los Chancas ($2.6 billion) projects, its total investment program in Peru runs to $7.9 billion. Peru is currently the second largest producer of copper globally and holds 13% of the world’s copper reserves. Peru’s national output is expected grow to 225000 tons in 2022 and 245000 tons in 2023, per Trading Economics.

In Mexico, the company has a planned investment of $413 million in the Buenavista Zinc — Sonora project. It is expected to be completed in 2023 and will double the company’s zinc production capacity. An investment of $159 million is estimated for Pilares – Sonora project in Mexico, which comprises an open pit mine operation with an annual production capacity of 35,000 tons of copper in concentrates. It is expected to begin production in first-quarter 2022. This project will significantly improve the overall mineral ore grade. The low capital intensity copper greenfield project, El Pilar project, with an investment of $310 million is expected to be completed in 2023. It will add 36,000 tons of copper annually. The El Arco – Baja California project with an estimated capital budget of $2.9 billion is anticipated to have annual production of 190,000 tons of copper and 105,000 ounces of gold. These projects will help the company attain production target of 1.9 million tons by 2028.

High Copper Prices & Low Cost to Boost Margins

Copper prices have gained this year on pickup in global industrial activity and recovery in automobile industry. Further, the $2 trillion infrastructure package announced by President Biden will significantly increase the demand for copper, which is a fundamental element at green energy facilities. Thus, the long-term outlook for copper is positive as copper demand is expected to grow, driven by electric vehicles and renewable energy and infrastructure investments.

However, grade decline, rising input costs, water constraints and scarcity of high-quality future development opportunities continue to constrain the industry’s supply. This demand supply imbalance will push copper prices north. Backed by its endeavors to increase low-cost production, the company’s copper production cash cost is lower than other miners like Vale S.A VALE, BHP Group, Codelco and FreeportMcMoRan, which is commendable. Higher copper prices and low costs will translate to improved margins for the company.

Price Performance

Shares of Southern Copper have appreciated 70% over the past year compared with the industry’s rally of 138.9%.

Image Source: Zacks Investment Research

Zacks Rank

Southern Copper currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

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(Bloomberg) — Global demand for potash could grow by as much as 3% a year over the next decade, BHP Group said as the world’s biggest miner prepares to decide on a major investment in the crop nutrient in Canada.

BHP remained on track to take a final investment decision on the Jansen potash project around the middle of 2021, the company said Thursday in a presentation, pending finalization of port and rail arrangements and a final risk assessment. The first phase of development is seen costing between $5.3 billion and $5.7 billion, with initial production expected within five to six years.

Potash prices have rallied this year, boosted by the economic recovery from the Covid-19 pandemic. Nutrien Ltd., the world’s biggest fertilizer company, said earlier this month that it plans to boost its potash production by about half a million metric tons more than it previously expected this year amid strong global demand.

“Potash is a future-facing commodity that is positively leveraged to global mega-trends, including decarbonization,” Huw McKay, BHP’s chief economist, said on a conference call. “While the industry is currently subject to excess capacity, the demand trajectory is expected to absorb this overhang over the course of this decade.”

Demand could rise to as much as 97 million tons by 2035, from around 70 million tons currently, BHP said, with consumption expected to catch up with supply by the late 2020s or early 2030s. Canada was well placed to meet that demand growth, having more than half of the global reserve base. It already accounts for almost a third of global potash exports.

Read: BHP Runs Rule Over Troubled Potash Project as Decision Looms

Nutrien has been touted as a potential partner for BHP in Jansen, with the miner seen benefiting from Nutrien’s industry knowledge and marketing expertise. BHP has struggled with the project for years, having down-sized earlier plans for a bigger concept and already ploughed at least $4.5 billion into its development.

“Our decision on Jansen depends on more than just the fundamentals of potash,” said Ragnar Udd, president of BHP’s minerals Americas business. “We’re still finalizing a port, and that remains one of the key steps for us to work for,” he said. The group was considering either a commercial option at the port of Vancouver, or a purpose-built greenfield facility at the port.

BHP shares were down 1.5% at A$47.64 at 10:58 a.m. Sydney time on Thursday, compared to a 0.5% decline in the benchmark S&P/ASX 200 index.

(Adds executive comment in paragraph seven)

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SOREL-TRACY, Quebec, Jun 17, 2021–(BUSINESS WIRE)–Rio Tinto has started operations at a new commercial scale demonstration plant to produce high-quality scandium oxide at its Rio Tinto Fer et Titane (RTFT) metallurgical complex in Sorel-Tracy, Quebec.

The $6 million project, in which the Government of Quebec contributed approximately $650,000 through the Quebec Plan for the Development of Critical and Strategic Minerals, was completed on time and on budget, less than six months after the start of construction.

Six employees have been hired to operate the plant, which uses an innovative process developed by RTFT to extract high purity scandium oxide from the waste streams of titanium dioxide production, without the need for any additional mining.

Commissioning work is now being undertaken as production ramps up to a capacity of three tonnes of scandium oxide per year. RTFT is already considering the potential for further investments to add additional modules in line with market demand.

Rio Tinto Iron and Titanium managing director Stéphane Leblanc said: "For the first time, customers will benefit from a North American supply of scandium oxide for applications in solid oxide fuel cells, lasers, lighting products or as an additive to produce high-performance alloys. In less than two years, we have gone from testing a process to extract this critical material in a lab to being able to supply approximately 20% of the global market. This is a testament to our team’s capacity to think outside the box and deliver on our commitments."

Quebec Minister of Energy and Natural Resources Jonatan Julien said: "I am very pleased to see this major critical and strategic minerals project come to fruition in Quebec. It will help strengthen the security of our supply and add value to our industrial waste from the mining sector. It is also consistent with the government's vision of creating wealth in a greener economy. I wish Rio Tinto Iron and Titanium and the team at this new plant every success!"

This project is part of a series of innovations supported by Rio Tinto’s Critical Minerals and Technology Centre in the field of critical minerals and materials, including the recent launch of a water atomized steel powder for 3-D printing applications.

With its world-class aluminium business, Rio Tinto is also well positioned to produce aluminium-scandium alloys to meet customer’s needs. In March, the company announced an agreement to provide a first batch of high-performance aluminium-scandium alloy from its North American operations to Amaero, a leader in metal additive manufacturing.

To learn more, visit www.elementnorth21.ca

Notes to editors

RTFT operates an open cast ilmenite mine at Lac Tio near Havre-Saint-Pierre, on Quebec’s North Shore. The ore is used to produce high-quality titanium dioxide feedstock, pig iron, steel and metal at RTFT’s metallurgical complex in Sorel-Tracy, Quebec. Together, the sites employ over 1,600 people.

RTFT has operated in Quebec for 70 years and pioneered the process of removing iron from ilmenite. In the last decade, RTFT has focused on developing, marketing and fine-tuning the UGS process, which produces slag with a very high titanium dioxide content sold to pigment producers.

Founded in 1967, RTFT’s Critical Minerals and Technology Centre conducts research on process improvement and develops new products. The Centre features state-of-the-art equipment and highly specialised instruments, such as inductively coupled plasma spectrometers, X-ray diffractometers, atomic absorption units, image analysers, scanning electron microscopes and powder metallurgy testing laboratory.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210617005667/en/

Contacts

Please direct all enquiries to media.enquiries@riotinto.com

Media Relations, UK

Illtud Harri
M +44 7920 503 600

David Outhwaite
M +44 7787 597 493

Media Relations, Australia

Jonathan Rose
M +61 447 028 913

Matt Chambers
M +61 433 525 739

Jesse Riseborough
M +61 436 653 412

Media Relations, Americas

Matthew Klar
T +1 514 608 4429

Investor Relations, UK

Menno Sanderse
M: +44 7825 195 178

David Ovington
M +44 7920 010 978

Clare Peever
M +44 7788 967 877

Investor Relations, Australia

Natalie Worley
M +61 409 210 462

Amar Jambaa
M +61 472 865 948

Rio Tinto plc

6 St James’s Square
London SW1Y 4AD
United Kingdom

T +44 20 7781 2000
Registered in England
No. 719885

Rio Tinto Limited

Level 7, 360 Collins Street
Melbourne 3000
Australia

T +61 3 9283 3333
Registered in Australia
ABN 96 004 458 404

riotinto.com

Category: RTFT

Vancouver, British Columbia–(Newsfile Corp. – June 17, 2021) – Pacific Ridge Exploration Ltd. (TSXV: PEX) (OTC Pink: PEXZF) ("Pacific Ridge" or the "Company") plans to launch a fully funded 2,500 metre diamond drill program at the Kliyul copper-gold project ("Kliyul" or the "Project") this July. The Company also plans to conduct exploration at the RDP copper-gold project and the Redton copper-gold project. All three projects are located in the prolific Quesnel Trough in northwestern British Columbia (see Figure 1).

"Pacific Ridge's 2021 exploration season promises to be an exciting one for several reasons," said Blaine Monaghan, President and CEO of Pacific Ridge. "It will be the largest exploration program undertaken in nearly a decade and it will be our first drill program at Kliyul, which represents an excellent opportunity to make a new copper-gold porphyry discovery. Although Kliyul has seen limited drilling, significant copper-gold porphyry mineralization was intersected in several historic drill holes. We plan to follow up these holes with the goal of extending the mineralization laterally and to depth."

Figure 1: Location of Kliyul, RDP, and Redton Projects

To view an enhanced version of this graphic, please visit:
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Kliyul 2021 Exploration Plans

A high priority drill target at Kliyul is the Kliyul Main Zone ("KMZ") where historic drilling encountered significant copper-gold porphyry mineralization, including drill hole KLI-15-34 which returned 245 metres of 0.75% CuEQ¹. Pacific Ridge believes that there is excellent potential to find additional copper-gold mineralization along strike and at depth at KMZ. The Company also plans to drill two newly defined adjacent targets, Kliyul East and Kliyul West. Together, KMZ, Kliyul East and Kliyul West cover a strike length of 1.5 kilometres. (see Figure 2). Drill targeting at KMZ, Kliyul East and Kliyul West was guided by alteration and lithogeochemical indicators from surface exposures and historical drilling, as well as magnetics and Induced Polarization (IP) geophysical surveys.

Figure 2: KMZ, Kliyul West and Kliyul East Drill Targets

Plan view

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Cross Section

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In addition to the drill program, Pacific Ridge is planning a geological mapping and sampling program at Kliyul, and a high-resolution airborne magnetic survey and IP survey over the Bap Ridge and M39 Zone targets (see Figure 3).

Figure 3: Location of Bap Ridge and M39 Targets

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About Kliyul

Kliyul is over 60 square kilometres in size and is only 5 kilometres from road and power in one of the most geochemically anomalous areas for copper and gold in the Quesnel Terrane. The Project contains several Minfile occurrences, including four main target areas: KMZ, Bap Ridge, Ginger-Shadow and M39, each representing a potential porphyry centre over a 4-kilometre strike length.

The KMZ is the most intensely explored of these potential porphyry centres with 33 drill holes (5,524 m) drilled since 1974, most of which targeted a near-surface copper-gold magnetite skarn zone. Deeper drilling in 2006 and 2015 encountered a porphyry copper-gold system. Drill highlights are shown in the table below.

KMZ Drill Results Table

*CuEQ = ((Cu(%) x $2.25 x 22.0642) + (Au(gpt) x $1,650 x 0.032151)) / ($2.25 x 22.0642)

*AuEQ = ((Cu(%) x $2.25 x 22.0642) + (Au(gpt) x $1,650 x 0.032151)) / ($1,650 x 0.032515)

Kliyul displays classic alkalic copper-gold porphyry alteration and mineralization patterns. Geological interpretation, supported by a variety of geophysical surveys, including IP, magnetics and magnetotellurics, suggest the potential to significantly expand the size of the Kliyul mineralized system, including the main porphyry mineralizer.

About RDP

Over 38 square kilometres in size, RDP is located 40 kilometres to the west of Kliyul and lies within the Stikine Terrane, which is host to numerous significant porphyry deposits in northern British Columbia, including Kemess, Red Chris, Kerr- Sulphurets and Galore Creek. RDP is also in a similar geological environment to NorthWest Copper's new East Niv discovery, located 20 kilometres to the north.

Figure 4: RDP Claim Map

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RDP contains several copper-gold porphyry targets that have been explored intermittently since the early 1970's. Work included prospecting and mapping, various geochemical surveys, ground and airborne geophysical surveys, trenching and a limited amount of drilling. The property is underlain by Hazelton Group volcanic and sedimentary rocks of the Stikine Terrane intruded by the lower Jurassic Roy plutonic suite including plugs, sills, and stocks of porphyritic dacite to monzodiorite composition, the Fir gabbro, and the Gyr rhyolite porphyry.

Roy Target: The Roy showing was discovered in 1973. Mineralization at the Roy showing consists of a quartz-magnetite-chalcopyrite stringer stockwork within a monzonite intrusive. Trenching in 1991 encountered 0.121% Cu and 0.55 gpt Au over 62 m within an 80 m trench². Only a single hole has been documented at Roy, in 2011, and encountered 0.11% Cu and 0.64 gpt Au over 122.95 m in hole EQ-001³.

Day Target: The Day showing was discovered at about the same time as the nearby Sustut Copper Deposit. Mineralization includes pyrite, magnetite, chalcopyrite, minor molybdenite, and traces of bornite as disseminations and fracture fillings in diorite and adjacent altered volcaniclastic rocks. Historical drilling includes 2,472 m in 19 drill holes. Highlights include 0.67% Cu and 0.93 gpt Au over 58.8 m in hole D-74-1⁴ and 0.54% Cu and 0.75 gpt Au over 57 m in hole C-92-1⁴.

Porcupine Target: Discovered in 1972, the Porcupine Target, was explored as a stratabound massive sulphide target. Float samples assayed as high as 17.2% Cu and 0.19% Cu with 7.98 gpt Au⁵. Four holes drilled in 1972 encountered sporadic results. More recent evaluation of the alteration and soil geochemistry at Porcupine suggests the potential for porphyry style mineralization.

RDP 2021 Exploration Plans

Pacific Ridge is planning a property-wide mapping and sampling program to fully define the nature and extent of porphyry alteration and mineralization centres. Data from a detailed aeromagnetic survey flown over the property in 2011 will be re-processed and reinterpreted as an aid to defining porphyry centres. Remote sensing processing will also be carried out to identify favourable alteration and assist in defining targets. In order to take advantage of the infrastructure and logistics that will be in place for the Kliyul drill program, the exploration program at RDP will run concurrent to the Kliyul drill program.

About Redton

Redton is a porphyry copper-gold project that adjoins NorthWest Copper's Kwanika project (Measured and Indicated Resource of 223.6 million tonnes grading 0.27% copper, 0.25 gpt gold and 0.87 gpt silver containing 1.32 billion pounds of Cu, 1.83 million ounces of Au and 6.27 million ounces of Ag⁶). Redton is road accessible and contains a number of untested drill targets (see Figure 5).

Redton 2021 Exploration Plans

Data from an AeroTEM magnetic and airborne survey is being modeled and reinterpreted with a view to outlining potential porphyry centres, in the area of the Catchment Basin and East Redton targets, where soils are locally enriched in copper and molybdenum. A field program is planned in late summer to ground truth these targets.

Figure 5: Redton Claim Map

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/5460/87780_b192ba64d4bde890_007full.jpg

Option Terms

Kliyul and Redton: Pacific Ridge has the right to earn a 51% interest in the Kliyul and Redton projects from Aurico Metals Inc., a wholly owned subsidiary of Centerra Gold Inc., by making cash payments totaling $100,000, issuing 2.0 million shares and spending $3.5 million on exploration by December 31, 2023. The Company then has the right to increase its interest in the properties to 75% by making additional payments totaling $60,000, issuing 1.5 million shares and completing an additional $3.5 million in exploration by December 31, 2025.

RDP: Pacific Ridge has the option to earn a 100% interest in RDP by making payments of $125,000 ($5,000 on signing), issuing 1,200,000 shares (100,000 shares on signing) and completing $810,000 in exploration in stages by December 15, 2023. In addition, Pacific Ridge will issue 300,000 shares to the vendor on completion of 3,000 m of drilling and an additional 500,000 shares upon defining 1,000,000 ounces of gold equivalent resource in the inferred or greater category. The property is also subject to a 2% NSR payable to the vendor, half of which can be purchased at any time for $1.5 million.

About Pacific Ridge

Our goal is to become one of the leading copper-gold exploration companies in British Columbia. Pacific Ridge's flagship project is the advanced-stage Kliyul copper-gold project, located in the Quesnel Trough, approximately 50 km southeast of Centerra Gold's Kemess project. Historic drilling at Kliyul encountered significant copper-gold porphyry mineralization, drill hole KLI-15-34 returned 245 metres of 0.75% CuEQ¹ (see Pacific Ridge press release dated December 2, 2020). The Company plans to launch a drill program at Kliyul this summer.

On behalf of the Board of Directors,

"Blaine Monaghan"

Blaine Monaghan
President & CEO
Pacific Ridge Exploration Ltd.

Corporate Contact:
Blaine Monaghan
President & CEO
Tel: (604) 687-4951
www.pacificridgeexploration.com
https://www.linkedin.com/company/pacific-ridge-exploration-ltd-pex-
https://twitter.com/PacRidge_PEX

Investor Contact:
G2 Consultants Corp.
Telephone: +1 778-678-9050
Email: ir@pacificridgeexploration.com

¹ Copper equivalent (CuEQ) is equal to ((Cu (per cent) multiplied by $2.25 multiplied by 22.0642) plus (Au (g/t) multiplied by $1,650 multiplied by 0.032151)) divided by ($2.25 multiplied by 22.0642).
² Fox, M., 1991, B.C. Government Assessment Report No. 21359.
³ Equitas Resources Corp. News Release – December 15, 2011
⁴ Skeena Resources Ltd. News Release – July 28, 1992.
⁵2011 Technical Report on the Day Property for Equitas Resources Corp.
⁶ Serengeti news release, March 3, 2019

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.

The technical information contained within this News Release has been reviewed and approved by Gerald G. Carlson, Ph.D., P.Eng., Executive Chairman of Pacific Ridge and Qualified Person as defined by National Instrument 43-101 policy.

Forward-Looking Information: This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling and other activities and events or developments that Pacific Ridge Exploration Ltd. ("Pacific Ridge") expects to occur, are forward-looking statements. Forward-looking statements in this news release include statements regarding a 2,500-metre drill program at Kliyul, an exploration at RDP and Redton, and the potential to find additional copper-gold mineralization along strike and at depth at KMZ. Although Pacific Ridge believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploration successes, and continued availability of capital and financing and general economic, market or business conditions. These statements are based on a number of assumptions including, among other things, assumptions regarding general business and economic conditions, that one of the options will be exercised, the ability of Pacific Ridge and other parties to satisfy stock exchange and other regulatory requirements in a timely manner, the availability of financing for Pacific Ridge's proposed programs on reasonable terms, and the ability of third party service providers to deliver services in a timely manner. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Pacific Ridge does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/87780

(Corrects advisory that $2-5 bln is estimated cost to retrofit technology to Australia's six existing alumina refineries, not cost per refinery, in paragraph 10. No change to story text.)

MELBOURNE, June 17 (Reuters) – Alcoa Corp detailed plans on Thursday for a "step change" in alumina production that would allow it to cut 70% of emissions from the carbon intensive process by tapping renewable energy.

Among Australia's emissions intensive exports, alumina and aluminium would be the most at risk from carbon border tariffs that the European Union is set to announce in July, says think tank the Australia Institute.

"It's going to take to around 2030 or so before you get the technology ready to roll out…lots of planning will be needed to make this come together," company official Ray Chatfield told a conference in the city of Perth.

The Australian government has issued grants to help decarbonise the alumina refining process by which aluminium is made and which contributes about 24% of the country's direct manufacturing emissions, or more than 14 million tonnes of carbon dioxide in 2019, government agency data show.

But Australia could leverage its abundant renewable power, providing a strategic advantage for building out more green alumina production, Chatfield, Alcoa's global technical manager for refining energy, said.

The process would replace the natural gas used to generate high-pressure steam with compressors that would capture waste vapour to generate heat. Such compressors would be powered by renewable energy supplied from a power grid.

The process would also cut water use by about 25 gigalitres per year, he said.

About 1,200 MW of new renewable power is required to fully implement the mechanical vapour recompression (MVR) process at Australia’s six alumina refineries, three run by Alcoa, two by Rio Tinto and one by South32, Chatfield said.

Last month, Alcoa received a government grant to test the technology at scale at its Wagerup refinery in Western Australia by the end of 2023.

But adapting Australia's existing refineries for the new process would call for significant investment of $2 billion to $5 billion, and the technology needs to be proved before it can be adopted, Chatfield added.

This week, Rio Tinto said it would look to cut carbon from the calcination process, which contributes a further 24% of process emissions, by replacing natural gas with hydrogen. The remaining 6% of emissions comes from power imports. (Reporting by Melanie Burton; Editing by Clarence Fernandez)

Kirkland Lake, Ontario–(Newsfile Corp. – June 17, 2021) – RJK Explorations Ltd. (TSXV: RJX.A) (OTC: RJKAF) ("RJK" or "the Company") is pleased to announce that it has discovered its 9^th kimberlite in The Historic Cobalt Mining Camp. A vertical drill hole KON-21-08 has intersected a volcaniclastic kimberlite breccia from 22.15 m to 26.7 m, overlain by glacial outwash sands and underlain by a mafic syenite intrusive complex This new kimberlite discovery falls within the edge of the footprint of an EM conductance anomaly which is similar in character to conductance responses from kimberlites discovered in Lorrain Township by RJK. Step-out drilling is planned to outline the dimensions of the new kimberlite discovery within the EM conductance anomaly. RJK will be testing 3 other targets on the Kon claims before moving to Longfellow Lake to follow up on kimberlite float Tony Bishop discovered while prospecting. A drone magnetometer survey is also planned to cover magnetic anomalies underlying and surrounding Longfellow Lake.

RJK has incorporated RJK Metals Inc., as a wholly owned subsidiary of RJK Explorations Ltd., to look at gold, silver, cobalt and base metals opportunities. RJK would like to welcome Gino Chitaroni who is a lead advisor to RJK to head this subsidiary.

The Company intends to extend the common share purchase warrants previously issued pursuant to the Company's non-brokered private placement that closed July 7, 2020. The Company issued a total of 3,600,000 Warrants exercisable at a price of $0.25 to purchase one common share in the capital of the Company for a period of one year. The Company wishes to amend the outstanding Warrants to extend their term to July 7, 2023. The exercise price of the Warrants will remain unchanged. The Warrant Amendment remains subject to approval of the TSX Venture Exchange.

Glenn Kasner, President, comments, "Our 9^th kimberlite discovery is exciting as this discovery opens up a new structural domain in the western side of the Timiskaming Rift Valley which may be highly prospective for kimberlite emplacement as well as metallic deposits. With this discovery, the number of targets we have within our land package has increased, and we intend to update shareholders on those once we conduct further studies."

Mr. Peter Hubacheck, P. Geo., Project Manager for RJK and the Qualified Person as defined by National Instrument 43-101 has approved the technical disclosure in this release.

Contact Information

Glenn Kasner, President and CEO
Mobile: (705) 568-7567
info@rjkexplorations.com
Web Site: https://www.rjkexplorations.com/
Company Information: Tel: (705) 568-7445

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

Forward-Looking Information

This news release includes certain forward-looking statements, which may include, but are not limited to, statements concerning future mineral exploration and property option payments. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "will", "anticipate", "believe", "plan", "estimate", "expect", "intend", "propose" and similar expressions. Forward-looking statements involve known and unknown risks and uncertainties that could cause actual results, performance, or achievements to differ materially from those expressed or implied in this news release. Factors that could cause actual results to differ materially from those anticipated in this news release include, but are not limited to, the financial resources of the Corporation being inadequate to carry out its stated plans. RJK assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward-looking statements except as required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/87901

Mining stocks fell on Wednesday after China's announcement to release metal reserves to curb commodity prices put miners under pressure. 

Major mining stocks weighed heavy on the FTSE 100 (^FTSE) after falling on the news. Rio Tinto (RIO.L) declined as much as 0.9% and is currently trading 0.7% lower. 

Anglo American (AAL.L) dropped 2% and Antofagasta (ANTO.L) was down 1.5%, Glencore (GLEN.L) crashed 2.8% and Evraz (EVR.L) declined 1.5%. BHP Group (BHP.L) also lost ground, dropping 1.1%. 

"With China having driven much of the upside seen in global commodity prices over the past year, their recent efforts aimed at easing the price pressures have clearly caused major ripples throughout the sector," said Joshua Mahony, senior market analyst at IG.

China said it would release the country's reserves of major industrial metals, including copper, aluminium and zinc in batches "in the near future". 

The country's stockpiling body – China’s National Food and Strategic Reserves Administration – said the move would ensure the supply and price stability of bulk commodities. 

The reserves will be released to non-ferrous metal processing and manufacturing firms via a public bidding process. It did not specify on quantities of metal to be sold, the auction process or which manufacturers will be allowed to bid.

Read more: The chip shortage bringing car factories to a standstill

It came as Chinese industrial data released on Wednesday showed production grew at a less than expected rates in May as chip shortages dragged down car production.

Industrial output grew at 8.8% year-on-year in May 2021, against expectations of 9.2% growth, according to data from the National Bureau of Statistics (NBS). Production was hit by a rise in COVID infections in Guandong province and fresh restrictions have impacted a number of electronic manufacturing plants located in the region, especially chips and semiconductors. 

"The declines in Chinese industrial production seen today highlight the pressure put on economic growth by rising input prices," said IG analyst Joshua Mahony. "With the Chinese announcing that they will start to periodically release reserves of aluminium, copper, and zinc, we are seeing that the country clearly has intentions to do all it can to quell the rise in commodity prices."

The State Council said in May that it would take measures to ensure supply and stable prices for commodities, and regulators had previously warned it would adopt a zero-tolerance policy to market manipulation or hoarding of metals.

The world's largest metals consumer has been struggling to tame a surge in metal prices this year fuelled by a post-COVID economic recovery, ample global liquidity and speculative buying that has dented manufacturers’ margins.

Watch: Could mining make a comeback in Cornwall?

MELBOURNE (Reuters) -BHP Group expects to present its board with a decision on whether to proceed with its Jansen potash project in Canada in a few months' time – rather than mid-year – after choosing between two port options, an executive said on Thursday.

The world's biggest miner has estimated the project in Saskatchewan province would cost up to $5.7 billion in its first phase. The project offers diversification into agriculture markets given that potash is a key element in plant nutrition that also makes crops more drought resistant.

"We are considering two options in terms of the port. One is a commercial option at the port of Vancouver, one is a greenfield option," said Ragnar Udd, president of BHP's Minerals America.

"We would like to have those locked in before we take them to the board," he said.

"We continue to expect that this (decision) will occur in the next, coming few months."

The miner expects the project will take five years to develop and have an annual production capacity of around 4.4 million tonnes of potash in its first phase. It will have capacity for an additional 12 million tonnes in stages thereafter for a life of 100 years.

Udd was speaking to investors about the outlook for the potash market, for which BHP expects demand to catch up with supply by late this decade or early next.

BHP estimated global production of potash was 76 million tonnes (Mt) in 2020, which could rise to 86 Mt when factoring in latent capacity.

It expects demand to grow by 15 Mt to around 105 Mt by 2040 or 1.5% to 3% a year, along with the global population and pressure to improve farming yields given limited land supply.

BHP sees operational expenditure at the Jansen potash mine at $100 per tonne and sustaining capital expenditure at $15 per tonne. It sees incentive pricing for new projects at $300 to $500 a tonne, with Canada the main supplier.

(Reporting by Melanie Burton; Editing by Richard Pullin and Christopher Cushing)

The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We have processed the filings of the more than 866 world-class investment firms that we track and now have access to the collective wisdom contained in these filings, which are based on their March 31st holdings, data that is available nowhere else. Should you consider Caterpillar Inc. (NYSE:CAT) for your portfolio? We'll look to this invaluable collective wisdom for the answer.

Caterpillar Inc. (NYSE:CAT) shares haven't seen a lot of action during the second quarter. Overall, hedge fund sentiment was unchanged. The stock was in 53 hedge funds' portfolios at the end of the first quarter of 2021. Our calculations also showed that CAT isn't among the 30 most popular stocks among hedge funds (click for Q1 rankings). The level and the change in hedge fund popularity aren't the only variables you need to analyze to decipher hedge funds' perspectives. A stock may witness a boost in popularity but it may still be less popular than similarly priced stocks. That's why at the end of this article we will examine companies such as Anheuser-Busch InBev SA/NV (NYSE:BUD), Rio Tinto Group (NYSE:RIO), and Sanofi (NYSE:SNY) to gather more data points.

Hedge funds' reputation as shrewd investors has been tarnished in the last decade as their hedged returns couldn't keep up with the unhedged returns of the market indices. Hedge funds have more than $3.5 trillion in assets under management, so you can't expect their entire portfolios to beat the market by large margins. Our research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 115 percentage points since March 2017 (see the details here). So you can still find a lot of gems by following hedge funds' moves today.

Ric Dillon of Diamond Hill Capital

At Insider Monkey we leave no stone unturned when looking for the next great investment idea. For example, advertising technology one of the fastest growing industries right now, so we are checking out stock pitches like this under-the-radar adtech stock that can deliver 10x gains. We go through lists like the 10 best hydrogen fuel cell stocks to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our homepage. Now let's view the latest hedge fund action encompassing Caterpillar Inc. (NYSE:CAT).

Do Hedge Funds Think CAT Is A Good Stock To Buy Now?

At first quarter's end, a total of 53 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 0% from one quarter earlier. Below, you can check out the change in hedge fund sentiment towards CAT over the last 23 quarters. With the smart money's capital changing hands, there exists an "upper tier" of noteworthy hedge fund managers who were boosting their holdings meaningfully (or already accumulated large positions).

More specifically, Bill & Melinda Gates Foundation Trust was the largest shareholder of Caterpillar Inc. (NYSE:CAT), with a stake worth $2355 million reported as of the end of March. Trailing Bill & Melinda Gates Foundation Trust was Fisher Asset Management, which amassed a stake valued at $1487.4 million. Citadel Investment Group, Diamond Hill Capital, and Adage Capital Management were also very fond of the stock, becoming one of the largest hedge fund holders of the company. In terms of the portfolio weights assigned to each position Bill & Melinda Gates Foundation Trust allocated the biggest weight to Caterpillar Inc. (NYSE:CAT), around 11.24% of its 13F portfolio. NWI Management is also relatively very bullish on the stock, dishing out 4.83 percent of its 13F equity portfolio to CAT.

Because Caterpillar Inc. (NYSE:CAT) has experienced bearish sentiment from the aggregate hedge fund industry, it's safe to say that there lies a certain "tier" of fund managers that decided to sell off their positions entirely by the end of the first quarter. At the top of the heap, Dmitry Balyasny's Balyasny Asset Management sold off the biggest investment of the 750 funds watched by Insider Monkey, worth an estimated $19.1 million in stock, and Till Bechtolsheimer's Arosa Capital Management was right behind this move, as the fund dumped about $10.9 million worth. These moves are important to note, as total hedge fund interest stayed the same (this is a bearish signal in our experience).

Let's check out hedge fund activity in other stocks – not necessarily in the same industry as Caterpillar Inc. (NYSE:CAT) but similarly valued. These stocks are Anheuser-Busch InBev SA/NV (NYSE:BUD), Rio Tinto Group (NYSE:RIO), Sanofi (NYSE:SNY), The Charles Schwab Corporation (NYSE:SCHW), Applied Materials, Inc. (NASDAQ:AMAT), TOTAL S.A. (NYSE:TOT), and International Business Machines Corp. (NYSE:IBM). This group of stocks' market values resemble CAT's market value.

[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position BUD,18,979916,0 RIO,25,1596509,-1 SNY,15,1142178,0 SCHW,76,4905041,15 AMAT,78,5711193,17 TOT,17,1163601,3 IBM,41,1355701,-10 Average,38.6,2407734,3.4 [/table]

View table here if you experience formatting issues.

As you can see these stocks had an average of 38.6 hedge funds with bullish positions and the average amount invested in these stocks was $2408 million. That figure was $4956 million in CAT's case. Applied Materials, Inc. (NASDAQ:AMAT) is the most popular stock in this table. On the other hand Sanofi (NYSE:SNY) is the least popular one with only 15 bullish hedge fund positions. Caterpillar Inc. (NYSE:CAT) is not the most popular stock in this group but hedge fund interest is still above average. Our overall hedge fund sentiment score for CAT is 60.4. Stocks with higher number of hedge fund positions relative to other stocks as well as relative to their historical range receive a higher sentiment score. This is a slightly positive signal but we'd rather spend our time researching stocks that hedge funds are piling on. Our calculations showed that top 5 most popular stocks among hedge funds returned 95.8% in 2019 and 2020, and outperformed the S&P 500 ETF (SPY) by 40 percentage points. These stocks gained 17.2% in 2021 through June 11th and beat the market again by 3.3 percentage points. Unfortunately CAT wasn't nearly as popular as these 5 stocks and hedge funds that were betting on CAT were disappointed as the stock returned -4.4% since the end of March (through 6/11) and underperformed the market. If you are interested in investing in large cap stocks with huge upside potential, you should check out the top 5 most popular stocks among hedge funds as many of these stocks already outperformed the market since 2019.

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

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For Immediate Release

Chicago, IL – June 16, 2021 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Fresnillo plc FNLPF, Hecla Mining Company HL, Compañía de Minas Buenaventura S.A.A. BVN and Alexco Resource Corp. AXU.

Here are highlights from Tuesday’s Analyst Blog:

Silver to Gain on Supply/Demand Imbalance: 4 Stocks to Watch

Silver futures for July 2021 delivery closed at $28.04 an ounce on Jun 14, gaining 5% so far this year. Annual inflation rate in the United States advanced to 5% in May 2021 from 4.2% in April — above market expectation of 4.7%. Notably, this marked the highest level since August 2008, reflecting the ongoing economic recovery and low base effects due to the pandemic last year.

So far this year, silver prices have averaged around $26.60 per ounce. According to the Silver Institute, silver prices will average around $27.30 this year, registering an impressive 33% year-over-year increase. It anticipates silver prices to reach $32 later in the year. Notably, earlier in February, the white metal had peaked to $31 an ounce — crossing the $30 threshold for the first time since 2013.

Factors Likely to Drive the Silver Rally

Silver’s performance will primarily be driven by demand and supply imbalance. The white metal is benefiting from its safe haven demand, varied industrial use and growing focus on silver-consuming green energy applications. The Silver Institute projects silver demand to grow 15% this year. Major part of the increase will be driven by investment demand, which is expected to go up 26% to 252.8 million ounces (Moz) — the highest level since 2015.

Industrial demand is expected to log year-over-year growth of 8% and hit a record high of 524 Moz, courtesy of reopening of economies and investment in green energy solutions. Surging sales of electric vehicles will also support silver demand. Jewelry fabrication is forecast to increase 24% in 2021 to 184.4 Moz driven by an economic recovery.

Meanwhile, total silver supply is expected to be up 8% this year to 1,056.3 Moz. After being severely impacted by coronavirus-related mine closures last year, mine production is expected to bounce back in 2021 with a projected year-over-year growth of 8.2% to 848.5 Moz with the biggest comebacks from Mexico, Peru and Bolivia.

Mexico, particularly, is expected to log strong numbers as new projects, such as Cerro Los Gatos, Juanicipio and Capela, ramp-up production rates. Recycling activity is anticipated to be higher, owing to higher silver prices. Thus, it is apparent that silver is headed for a deficit this year, which will prop up prices.

The long-term outlook for silver remains solid. Given numerous industrial applications for silver, particularly those pertaining to “green” technologies, 5G will continue to support demand for silver in years to come.

Demand for silver in solar photovoltaic (PV) cells is surging as countries move toward adopting renewable energy sources. The Silver Institute estimates silver demanded from 5G to more than double to around 16Moz by 2025. By 2030, it will require around 23Moz — a 206% increase from current levels.

In the automobile industry, demand for silver will rise to 88 Moz in five years as the transition from traditional cars and trucks to EVs accelerates. Charging points and charging stations will also call for a massive amount of silver. Silver demand for “printed and flexible electronics” will grow 54% over the next nine years.

Overall, with more countries now focusing on lowering carbon emissions, they will need more silver for electric vehicles, charging stations and 5G, and cables connecting new wind turbines and solar farms to the grid.

In a year’s time, the Mining – Silver industry has rallied 59.4%, outperforming the S&P 500’s rally of 40.6%. The industry falls under the broader Basic Materials sector, which gained 54.8% in the same time frame.

4 Silver Stocks to Watch

Fresnillo: The Mexico-based company primarily explores for silver, gold, lead, and zinc concentrates. Its flagship project is Fresnillo silver mine located in the state of Zacatecas.

The company is investing in a number of projects to increase production and ensure steady growth in future years. Focus on improving operational performance and enhancing efficiency is expected to result in lower costs. Its high quality assets, ample mineral resources, competitive margins and disciplined approach to development will continue to drive growth.

The Zacks Consensus Estimate for the company’s current-year earnings indicates year-over-year growth of 87.5%. The estimates have also moved up 3.7% in 90 days’ time. The company’s shares have gained 27.9% in the past year. It currently carries a Zacks Rank #3 (Hold).

Hecla Mining Company: This Coeur d'Alene, ID-based company, together with its subsidiaries discovers, acquires, develops, and produces precious and base metal properties in the United States and internationally.

The company has a diverse asset portfolio in mining friendly jurisdictions. It boasts two of the largest silver mines in the world and two highest-grade large silver mines. It is pursuing acquisition opportunities to complement its existing portfolio.

The company currently produces about one-third of the silver mined in the United States. This is expected to grow as Lucky Friday Mine in Idaho ramps up. The mine’s production is expected to double again in 2021 and 60% more within four years. The company is also one of the lowest-cost U.S. silver producers.

The Zacks Consensus Estimate for earnings for fiscal 2021 indicates year-over-year improvement of 375%. The estimate has been revised upward by 1.4% over the past 90 days. Shares of the company have soared 186.6% over the past year. The company currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Buenaventura Mining Company: Based in Lima, Peru, the company engages in exploration, mining, and processing of gold, silver, lead, zinc, and copper metals in Peru, the United States, Europe, and Asia. It currently operates several mines in Peru — Orcopampa, Uchucchacua, Julcani, El Brocal, La Zanja and Coimolache, and is developing the Tambomayo project.

The company is well-poised for growth, backed by its solid capital structure with ample liquidity and a portfolio of base and precious metals. The company has embarked on a debottlenecking program to reduce costs at its direct operation mines.

The program has driven impressive results in Tambomayo, where the company simplified the metallurgical process and optimized mine preparation. In Uchucchacua, it has improved efficiency in the underground mine. At El Brocal, it has increased production driven by operational improvements. Overall, the program has resulted in significant cost savings in each of its mines.

The Zacks Consensus Estimate for the company’s current-year earnings indicates year-over-year growth of 244%. The estimates have gone up 1.4% over the past 90 days. The company’s shares have appreciated 21.4% in the past year. It currently carries a Zacks Rank #3.

Alexco Resource Corp: Headquartered in Vancouver, Canada, Alexco Resource operates the majority of the historic Keno Hill Silver District, in Canada's Yukon Territory — one of the highest-grade silver deposits in the world. The company is currently advancing Keno Hill to production and started concentrating production and shipments in the first quarter of 2021.

Keno Hill is expected to produce an average of approximately 4.4 million ounces of silver per year contained in high quality lead/silver and zinc concentrates at an average all-in sustaining cost of $11.59 per ounce. Keno Hill has significant potential to grow and Alexco Resource has a long history of expanding the operation's mineral resources through successful exploration.

The Zacks Consensus Estimate for the company’s fiscal 2021 earnings suggests year-over-year improvement of 220%. The estimate has been revised upward by 33% over the past 90 days. Its shares have appreciated 35.3% in a year’s time. The stock has a Zacks Rank #3.

Zacks Names “Single Best Pick to Double”

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.

Free: See Our Top Stock and 4 Runners Up >>

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Zacks Investment Research

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

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Hecla Mining Company (HL) : Free Stock Analysis Report
 
Buenaventura Mining Company Inc. (BVN) : Free Stock Analysis Report
 
Alexco Resource Corp (AXU) : Free Stock Analysis Report
 
Fresnillo PLC (FNLPF) : Free Stock Analysis Report
 
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Zacks Investment Research

MELBOURNE (Reuters) -BHP expects to present its board with a decision in a few months on whether to go ahead with its Jansen potash project in Canada after choosing between two port options, a company executive said on Thursday.

The world's biggest miner has estimated the project in Saskatchewan province would cost up to $5.7 billion in its first phase. The project offers BHP diversification into agricultural markets given that potash is a key element in plant nutrition that also makes crops more drought resistant.

"We are considering two options in terms of the port. One is a commercial option at the port of Vancouver, one is a greenfield option," Ragnar Udd, president of BHP's Minerals America, told investors on Thursday.

"We would like to have those locked in before we take them to the board. We continue to expect that this (decision) will occur in the next, coming few months," he added.

Chief Executive Mike Henry said at its half year results investor call that although BHP has said a decision would be made mid-2021 it was now maybe "a slightly wider range".

The miner expects the potash project will take five years to develop and have an annual production capacity of around 4.4 million tonnes in its first phase. It will have capacity for an additional 12 million tonnes thereafter for a life of 100 years.

Udd was speaking to investors about the outlook for the potash market, for which BHP expects demand to catch up with supply by late this decade or early next.

BHP estimated global production of potash was 76 million tonnes (Mt) in 2020, which could rise to 86 Mt when factoring in latent capacity.

It expects demand to grow by 15 Mt to around 105 Mt by 2040 or 1.5% to 3% a year, along with the global population and pressure to improve farming yields given limited land supply.

BHP sees operational expenditure at the Jansen potash mine at $100 per tonne and sustaining capital expenditure at $15 per tonne. It sees incentive pricing for new projects at $300 to $500 a tonne, with Canada the main supplier.

(Reporting by Melanie Burton; Editing by Richard Pullin, Christopher Cushing and Alexander Smith)

Rio Tinto shows improving price performance, earning an upgrade to its IBD Relative Strength Rating.

MELBOURNE, Australia, Jun 15, 2021–(BUSINESS WIRE)–Rio Tinto has partnered with the Australian Renewable Energy Agency (ARENA) to study whether hydrogen can replace natural gas in alumina refineries to reduce emissions.

Rio Tinto will conduct a $1.2 million feasibility study, equally funded with ARENA through a $580,000 grant, into using clean hydrogen to replace natural gas in the calcination process of refining at the Yarwun aumina refinery in Gladstone.

The study program includes work to be done at Rio Tinto’s Bundoora Technical Development Centre in Melbourne, where Rio Tinto’s in-house development capability has now been extended to hydrogen.

ARENA CEO Darren Miller said "If we can replace fossil fuels with clean hydrogen in the refining process for alumina, this will reduce emissions in the energy and emissions intensive refining stage of the aluminium supply chain. Exploring these new clean energy technologies and methods is a crucial step towards producing green aluminium.

"This study will investigate a potential technology that can contribute to the decarbonisation of the Australian alumina industry. If successful, the technical and commercial lessons from Rio Tinto’s study could lead to the implementation of hydrogen calcination technology, not only in Australia, but also internationally."

Rio Tinto Aluminium Pacific Operations acting managing director Daniel van der Westhuizen said "We see the ARENA and Rio Tinto-funded study as a step towards reducing refinery emissions and one that has the potential to play an important part in Rio Tinto’s commitment to decarbonisation.

"We’re investing in work that needs to be done, not only to decarbonise one of our sites, but also to help provide a lower-emissions pathway for Rio Tinto and the global aluminium industry.

"We recognise we are on a long road towards reducing emissions across our operations and there is clearly more work to be done. But projects such as this are an important part of helping us get there."

The study comprises two distinct work packages:

• Preliminary engineering and design study conducted to understand the construction and operational requirements of a potential demonstration project at the Yarwun alumina refinery.

• Simulating the calcination process using a lab scale reactor at the Bundoora Technical Development Centre.

Once complete, the study will inform the viability of a potential demonstration project. Rio Tinto has lodged patents for the hydrogen calcination process.

Rio Tinto is aiming to reach net zero emissions across its operations by 2050. Across the company, it is targeting a 15% reduction in absolute emissions and a 30% reduction in emissions intensity by 2030, from a 2018 baseline.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210615005510/en/

Contacts

Please direct all enquiries to media.enquiries@riotinto.com

Media Relations, UK

Illtud Harri
M +44 7920 503 600

David Outhwaite
M +44 7787 597 493

Media Relations, Australia

Jonathan Rose
M +61 447 028 913

Matt Chambers
M +61 433 525 739

Jesse Riseborough
M +61 436 653 412

Media Relations, Americas

Matthew Klar
T +1 514 608 4429

Investor Relations, UK

Menno Sanderse
M: +44 7825 195 178

David Ovington
M +44 7920 010 978

Clare Peever
M +44 7788 967 877

Investor Relations, Australia

Natalie Worley
M +61 409 210 462

Amar Jambaa
M +61 472 865 948

Rio Tinto plc

6 St James’s Square
London SW1Y 4AD
United Kingdom

T +44 20 7781 2000
Registered in England
No. 719885

Rio Tinto Limited

Level 7, 360 Collins Street
Melbourne 3000
Australia

T +61 3 9283 3333
Registered in Australia
ABN 96 004 458 404

riotinto.com

Category: General

A group of uranium mining companies saw their stock prices plunge after a performance issue was flagged at a Chinese nuclear power plant. The reaction seems overdone.

Silver futures for July 2021 delivery closed at $28.04 an ounce on Jun 14, gaining 5% so far this year. Annual inflation rate in the United States advanced to 5% in May 2021 from 4.2% in April — above market expectation of 4.7%. Notably, this marked the highest level since August 2008, reflecting the ongoing economic recovery and low base effects due to the pandemic last year.

So far this year, silver prices have averaged around $26.60 per ounce. According to the Silver Institute, silver prices will average around $27.30 this year, registering an impressive 33% year-over-year increase. It anticipates silver prices to reach $32 later in the year. Notably, earlier in February, the white metal had peaked to $31 an ounce — crossing the $30 threshold for the first time since 2013.

Factors Likely to Drive the Silver Rally

Silver’s performance will primarily be driven by demand and supply imbalance. The white metal is benefiting from its safe haven demand, varied industrial use and growing focus on silver-consuming green energy applications. The Silver Institute projects silver demand to grow 15% this year. Major part of the increase will be driven by investment demand, which is expected to go up 26% to 252.8 million ounces (Moz) — the highest level since 2015.

Industrial demand is expected to log year-over-year growth of 8% and hit a record high of 524 Moz, courtesy of reopening of economies and investment in green energy solutions. Surging sales of electric vehicles will also support silver demand. Jewelry fabrication is forecast to increase 24% in 2021 to 184.4 Moz driven by an economic recovery.

Meanwhile, total silver supply is expected to be up 8% this year to 1,056.3 Moz. After being severely impacted by coronavirus-related mine closures last year, mine production is expected to bounce back in 2021 with a projected year-over-year growth of 8.2% to 848.5 Moz with the biggest comebacks from Mexico, Peru and Bolivia. Mexico, particularly is expected to log strong numbers as new projects, such as Cerro Los Gatos, Juanicipio and Capela, ramp-up production rates. Recycling activity is anticipated to higher owing to higher silver prices. Thus, it is apparent that silver is headed for a deficit this year, which will prop up prices.

The long-term outlook for silver remains solid. Given numerous industrial applications for silver, particularly those pertaining to “green” technologies and 5G will continue to support demand for silver in years to come. Demand for silver in solar photovoltaic (PV) cells is surging as countries move toward adopting renewable energy sources. The Silver Institute estimates silver demanded from 5G to more than double to around 16Moz by 2025. By 2030, it will require around 23Moz — a 206% increase from current levels.

In the automobile industry, demand for silver will rise to 88 Moz in five years as the transition from traditional cars and trucks to EVs accelerates. Charging points and charging stations will also call for a massive amount of silver. Silver demand for “printed and flexible electronics” will grow 54% over the next nine years. Overall, with more countries now focusing on lowering carbon emissions, they will need more silver for electric vehicles, charging stations and 5G, and cables connecting new wind turbines and solar farms to the grid.
 

Image Source: Zacks Investment Research

In a year’s time, the Mining – Silver industry has rallied 59.4%, outperforming the S&P 500’s rally of 40.6%. The industry falls under the broader Basic Materials sector, which gained 54.8% in the same time frame.

4 Silver Stocks to Watch

Fresnillo plc FNLPF: The Mexico-based company primarily explores for silver, gold, lead, and zinc concentrates. Its flagship project is Fresnillo silver mine located in the state of Zacatecas.

The company is investing in a number of projects to increase production and ensure steady growth in future years. Focus on improving operational performance and enhancing efficiency is expected to result in lower costs. Its high quality assets, ample mineral resources, competitive margins and disciplined approach to development will continue to drive growth.

The Zacks Consensus Estimate for the company’s current-year earnings indicates year-over-year growth of 87.5%. The estimates have also moved up 3.7% in 90 days’ time. The company’s shares have gained 27.9% in the past year. It currently carries a Zacks Rank #3 (Hold).

Hecla Mining Company HL: This Coeur d'Alene, ID-based company, together with its subsidiaries discovers, acquires, develops, and produces precious and base metal properties in the United States and internationally.

The company has a diverse asset portfolio in mining friendly jurisdictions. It boasts two of the largest silver mines in the world and two highest-grade large silver mines. It is pursuing acquisition opportunities to complement existing portfolio. The company currently produces about one-third of the silver mined in the United States. This is expected to grow as Lucky Friday Mine in Idaho ramps up. The mine’s production is expected to double again in 2021 and 60% more within four years. The company is also one of the lowest-cost U.S. silver producers.

The Zacks Consensus Estimate for earnings for fiscal 2021 indicates year-over-year improvement of 375%. The estimate has been revised upward by 1.4% over the past 90 days. Shares of the company have soared 186.6% over the past year. The company currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Buenaventura Mining Company Inc. BVN: Based in Lima, Peru, the company engages in exploration, mining, and processing of gold, silver, lead, zinc, and copper metals in Peru, the United States, Europe, and Asia. It currently operates several mines in Peru — Orcopampa, Uchucchacua, Julcani, El Brocal, La Zanja and Coimolache, and is developing the Tambomayo project.

The company is well-poised for growth, backed by its solid capital structure with ample liquidity and a portfolio of base and precious metals. The company has embarked on a debottlenecking program to reduce costs at its direct operation mines. The program has driven impressive results in Tambomayo, where the company simplified the metallurgical process and optimized mine preparation. In Uchucchacua, it has improved efficiency in the underground mine. At El Brocal, it has increased production driven by operational improvements. Overall, the program has resulted in significant cost savings in each of its mines.

The Zacks Consensus Estimate for the company’s current-year earnings indicates year-over-year growth of 244%. The estimates have gone up 1.4% over the past 90 days. The company’s shares have appreciated 21.4% in the past year. It currently carries a Zacks Rank #3.

Alexco Resource Corp. AXU: Headquartered in Vancouver, Canada, Alexco Resource operates the majority of the historic Keno Hill Silver District, in Canada's Yukon Territory — one of the highest-grade silver deposits in the world. The company is currently advancing Keno Hill to production and started concentrate production and shipments in the first quarter of 2021. Keno Hill is expected to produce an average of approximately 4.4 million ounces of silver per year contained in high quality lead/silver and zinc concentrates at an average all-in sustaining cost of $11.59 per ounce. Keno Hill has significant potential to grow and Alexco Resource has a long history of expanding the operation's mineral resources through successful exploration.

The Zacks Consensus Estimate for the company’s fiscal 2021 earnings suggests year-over-year improvement of 220%. The estimate has been revised upward by 33% over the past 90 days. Its shares have appreciated 35.3% in a year’s time. The stock has a Zacks Rank #3.

 

Image Source: Zacks Investment Research

Zacks Names “Single Best Pick to Double”

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.

Free: See Our Top Stock and 4 Runners Up >>

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

Fresnillo PLC (FNLPF) : Free Stock Analysis Report

Hecla Mining Company (HL) : Free Stock Analysis Report

Buenaventura Mining Company Inc. (BVN) : Free Stock Analysis Report

Alexco Resource Corp (AXU) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The financial regulations require hedge funds and wealthy investors that exceeded the $100 million holdings threshold to file a report that shows their positions at the end of every quarter. Even though it isn't the intention, these filings to a certain extent level the playing field for ordinary investors. The latest round of 13F filings disclosed the funds' positions on March 31st. We at Insider Monkey have made an extensive database of more than 866 of those established hedge funds and famous value investors' filings. In this article, we analyze how these elite funds and prominent investors traded Paramount Gold Nevada Corp (NYSE:PZG) based on those filings.

Hedge fund interest in Paramount Gold Nevada Corp (NYSE:PZG) shares was flat at the end of last quarter. This is usually a negative indicator. Our calculations also showed that PZG isn't among the 30 most popular stocks among hedge funds (click for Q1 rankings). At the end of this article we will also compare PZG to other stocks including Petros Pharmaceuticals, Inc. (NASDAQ:PTPI), ADiTx Therapeutics, Inc. (NASDAQ:ADTX), and Conifer Holdings, Inc. (NASDAQ:CNFR) to get a better sense of its popularity.

So, why do we pay attention to hedge fund sentiment before making any investment decisions? Our research has shown that hedge funds' small-cap stock picks managed to beat the market by double digits annually between 1999 and 2016, but the margin of outperformance has been declining in recent years. Nevertheless, we were still able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 115 percentage points since March 2017 (see the details here). We have been able to outperform the passive index funds by tracking the moves of corporate insiders and hedge funds, and we believe small investors can benefit a lot from reading hedge fund investor letters and 13F filings.

Eric Sprott of Sprott Asset Management

At Insider Monkey, we scour multiple sources to uncover the next great investment idea. For example, an activist hedge fund wants to buy this $28 biotech stock for $50. So, we recommended a long position to our monthly premium newsletter subscribers. We go through lists like the 10 best battery stocks to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our homepage. Now let's analyze the recent hedge fund action encompassing Paramount Gold Nevada Corp (NYSE:PZG).

Do Hedge Funds Think PZG Is A Good Stock To Buy Now?

At the end of March, a total of 3 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of 0% from one quarter earlier. The graph below displays the number of hedge funds with bullish position in PZG over the last 23 quarters. So, let's examine which hedge funds were among the top holders of the stock and which hedge funds were making big moves.

Among these funds, Sprott Asset Management held the most valuable stake in Paramount Gold Nevada Corp (NYSE:PZG), which was worth $0.3 million at the end of the fourth quarter. On the second spot was Renaissance Technologies which amassed $0.2 million worth of shares. Citadel Investment Group was also very fond of the stock, becoming one of the largest hedge fund holders of the company. In terms of the portfolio weights assigned to each position Sprott Asset Management allocated the biggest weight to Paramount Gold Nevada Corp (NYSE:PZG), around 0.02% of its 13F portfolio. Renaissance Technologies is also relatively very bullish on the stock, dishing out 0.0003 percent of its 13F equity portfolio to PZG.

We view hedge fund activity in the stock unfavorable, but in this case there was only a single hedge fund selling its entire position: Weiss Asset Management. One hedge fund selling its entire position doesn't always imply a bearish intent. Theoretically a hedge fund may decide to sell a promising position in order to invest the proceeds in a more promising idea. However, we don't think this is the case in this case because only one of the 800+ hedge funds tracked by Insider Monkey identified as a viable investment and initiated a position in the stock (that fund was Citadel Investment Group).

Let's go over hedge fund activity in other stocks – not necessarily in the same industry as Paramount Gold Nevada Corp (NYSE:PZG) but similarly valued. We will take a look at Petros Pharmaceuticals, Inc. (NASDAQ:PTPI), ADiTx Therapeutics, Inc. (NASDAQ:ADTX), Conifer Holdings, Inc. (NASDAQ:CNFR), Wheeler Real Estate Investment Trust Inc (NASDAQ:WHLR), ReTo Eco-Solutions, Inc. (NASDAQ:RETO), China Green Agriculture, Inc (NYSE:CGA), and SPAR Group, Inc. (NASDAQ:SGRP). This group of stocks' market values resemble PZG's market value.

[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position PTPI,2,823,0 ADTX,2,568,2 CNFR,1,150,1 WHLR,2,973,1 RETO,2,872,0 CGA,1,269,0 SGRP,2,380,0 Average,1.7,576,0.6 [/table]

View table here if you experience formatting issues.

As you can see these stocks had an average of 1.7 hedge funds with bullish positions and the average amount invested in these stocks was $1 million. That figure was $1 million in PZG's case. Petros Pharmaceuticals, Inc. (NASDAQ:PTPI) is the most popular stock in this table. On the other hand Conifer Holdings, Inc. (NASDAQ:CNFR) is the least popular one with only 1 bullish hedge fund positions. Compared to these stocks Paramount Gold Nevada Corp (NYSE:PZG) is more popular among hedge funds. Our overall hedge fund sentiment score for PZG is 85. Stocks with higher number of hedge fund positions relative to other stocks as well as relative to their historical range receive a higher sentiment score. Our calculations showed that top 5 most popular stocks among hedge funds returned 95.8% in 2019 and 2020, and outperformed the S&P 500 ETF (SPY) by 40 percentage points. These stocks gained 17.2% in 2021 through June 11th and still beat the market by 3.3 percentage points. Unfortunately PZG wasn't nearly as popular as these 5 stocks and hedge funds that were betting on PZG were disappointed as the stock returned 5% since the end of the first quarter (through 6/11) and underperformed the market. If you are interested in investing in large cap stocks with huge upside potential, you should check out the top 5 most popular stocks among hedge funds as most of these stocks already outperformed the market since 2019.

Get real-time email alerts: Follow Paramount Gold Nevada Corp. (TSE:PZG)

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

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A crackdown on commodity speculation from China, as well as slumping imports, has copper trading at a seven-week low.

Figure 1

Elrond project location

Figure 2

Elrond geology

Figure 3

Regional Mag

Figure 4

Elrond Au-bearing pegmatites and granites

Figure 5

Elrond showing

MONTREAL, June 15, 2021 (GLOBE NEWSWIRE) — Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to announce the start of a new exploration campaign on its Elrond project (100% Midland), located in Eeyou Istchee James Bay, Quebec. This project is located near the new gold discoveries made by Harfang Exploration Inc. (“Harfang”) on the Serpent project. The summer 2021 exploration program on Elrond consists of a till geochemistry survey that was completed at the end of May, and a prospecting and mapping campaign that will take place in August-September.

The Elrond project was initiated in 2017 and targeted a previously unexplored segment of the contact between the La Grande and Opinaca geological subprovinces. This contact is a major metallotect in the James Bay region and hosts numerous gold deposits and occurrences, including the Eleonore mine and the La Grande Sud, Cheechoo, Corvet-Est and Orfée deposits. The La Pointe gold deposit, located approximately 15 kilometres northeast of the Elrond project, also sits directly on this prolific contact. The Elrond project is also located immediately southeast of new high-grade gold discoveries made by Harfang Exploration on its Serpent project.

Several gold occurrences were discovered by Midland in only 6 days of prospecting in 2017 and 2019 on Elrond. In the southwest part of the project, grab samples from an amphibolite with strong arsenopyrite and pyrite mineralization graded 4.53 g/t Au and 3.23 g/t Au (these results were disclosed in a press release dated October 12, 2017; note that grades obtained in grab samples are not necessarily indicative of the mineralized zone as a whole). Approximately 100 metres further north, grab samples from a sheared and silicified amphibolite with pyrite mineralization graded 2.17 g/t Au, 1.81 g/t Au and 1.69 g/t Au (two of these three results were previously unpublished). Approximately one (1) kilometre northeast of these two occurrences, another grab sample, collected in a late felsic dyke injected in an amphibolite, graded 2.49 g/t Au and 0.2% Bi (previously unpublished results). In the northeast part of the project, a disseminated sulphide zone several metres wide, centered on a fault transecting a late pegmatitic granitoid yielded several anomalous values in Au, Bi and Mo. Seven (7) grab samples collected over an area of 3 metres by 2 metres in this mineralized zone yielded gold grades ranging from 0.38 g/t Au to 1.63 g/t Au, (previously unpublished results) as well as high Mo (0.005% Mo to 0.06% Mo) and Bi (0.01% Bi to 0.05% Bi) values. The mineralized zone remains open to the north and east.

Au-Mo-Bi mineralization occurring in two of the four showings discovered to date on Elrond is hosted in late granodiorites or granites of the Vieux-Comptoir Suite. In addition, the Au-Mo-Bi metal association suggests these occurrences belong to a “reduced intrusion-related gold” deposit model. This type of mineralization typically forms low-grade but very high-tonnage gold deposits. The Cheechoo gold deposit, also located along the La Grande-Opinaca contact further east, is also considered of this type (Fontaine et al., 2018) and is also associated with a late felsic intrusive (granodiorite) host rock. Showings on Elrond therefore suggest potential for “reduced intrusion-related gold” on the project. The other two Au±As showings are more likely typical orogenic occurrences and also indicate potential for this type of mineralization.

A glacial sediment (till) survey totalling eighty (80) samples was carried out in late May on Elrond, to identify areas with significant gold concentrations. Till samples will be processed throughout the summer using the following methods: gold grain counts and characterization, heavy mineral concentrate analysis, and analysis of the fine fraction for gold and other metals. A follow-up prospecting campaign of gold-in-till anomalies and existing gold occurrences on the project is planned near the end of the field season.

Cautionary statement:

Mineralization occurring on the Serpent project and at the Eleonore, La Pointe, La Grande Sud, Cheechoo, Corvet-Est and Orfée deposits is not necessarily indicative of mineralization that may be found on the Elrond property held by Midland.

Quality control

Exploration program design and interpretation of results are performed by qualified persons employing a Quality Assurance/Quality Control program consistent with industry best practices, including the use of standards and blanks at a rate of 1 per 20 samples. Rock samples on the project are assayed for gold by standard 30-gram fire-assaying with inductively coupled plasma atomic emission spectroscopy (ICP-AES; Au-ICP21) or gravimetric finish (Au-GRA21) at ALS Minerals laboratories in Vancouver, British Columbia. All samples are also analyzed for multi-elements using the four-acid ICP-AES method (ME-ICP61), also at ALS Minerals laboratories in Vancouver, British Columbia.

About Midland

Midland targets the excellent mineral potential of Quebec to make the discovery of new world-class deposits of gold, platinum group elements and base metals. Midland is proud to count on reputable partners such as BHP Canada Inc., Probe Metals Inc., Wallbridge Mining Company Ltd, Agnico Eagle Mines Limited, Osisko Development Corp., SOQUEM INC., Nunavik Mineral Exploration Fund, and Abcourt Mines Inc. Midland prefers to work in partnership and intends to quickly conclude additional agreements in regard to newly acquired properties. Management is currently reviewing other opportunities and projects to build up the Company portfolio and generate shareholder value.

This press release was prepared by Mario Masson, P.Geo., VP Exploration for Midland and Qualified Person as defined by NI 43-101.

For further information, please consult Midland’s website or contact:

Gino Roger, President and Chief Executive Officer
Tel.: 450 420-5977
Fax: 450 420-5978
Email: info@midlandexploration.com

Website: https://www.midlandexploration.com/

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

This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in Midland’s periodic reports including the annual report or in the filings made by Midland from time to time with securities regulatory authorities.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/67cd1966-af0b-4b19-8533-48227c209519

https://www.globenewswire.com/NewsRoom/AttachmentNg/160439f0-aa15-4701-b2b5-fb5534bc945b

https://www.globenewswire.com/NewsRoom/AttachmentNg/9fe4eed9-f76c-4295-a72e-f29b57e709f5

https://www.globenewswire.com/NewsRoom/AttachmentNg/86e79055-dcba-4c2e-89f1-29199194cca8

https://www.globenewswire.com/NewsRoom/AttachmentNg/4e5be5b4-337a-41f7-81e8-c0d2b6aa7f21

(Adds Centrus comment)

WASHINGTON, June 14 (Reuters) – The U.S. nuclear power regulator has approved production of uranium fuel that is far more enriched than fuel for conventional nuclear power plants, the company aiming to make the material said on Monday.

The fuel is known as high-assay, low-enriched uranium, or HALEU. Nonproliferation experts are concerned about the fuel as it is easier to convert into fissile material, the key component of nuclear weapons, than conventional reactor fuel.

Centrus Energy Corp said the Nuclear Regulatory Commission, or NRC, approved the company's request to produce HALEU at a Piketon, Ohio, plant, and it expects to be demonstrating production of the fuel early in 2022.

"This approval is a major milestone in our contract with the Department of Energy," said Daniel Poneman, Centrus' president and chief executive.

Under a 2019 contract with the Energy Department, Centrus is constructing AC100M centrifuges to demonstrate HALEU production. The $115 million, cost-shared contract runs through mid-2022.

Centrus said HALEU offers advantages for both existing and next-generation reactors, including "greater power density, improved reactor performance, fewer refueling outages, improved proliferation resistance, and smaller volumes of waste."

The fuel will be allowed to be enriched to 5% to 20% uranium-235. That is less than the enrichment level of about 90% used in a nuclear weapon, but is far higher than fuel used in conventional nuclear reactors, which is about 3% to 5% enriched.

Nonproliferation experts voiced concern about the signal the approval sends to other countries, especially because Washington is trying to stop Iran from enriching 20% uranium.

"I am concerned about the potential development of advanced reactors and fuel cycles that will require large quantities of HALEU without a full evaluation of the consequences for proliferation and nuclear terrorism," said Edwin Lyman, director of nuclear power safety at the Union of Concerned Scientists.

A Centrus spokesperson said the United States "has always required adherence to the highest standards for safety, security and nonproliferation for any nation that buys our fuel, which is why it is so important that America does not cede this market to others."

NRC spokesperson David McIntyre said the agency had no comment. (Reporting by Timothy Gardner; Editing by Lisa Shumaker and Leslie Adler)

VANCOUVER, British Columbia, June 14, 2021 (GLOBE NEWSWIRE) — Medallion Resources Ltd. (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRDN) – “Medallion” or the “Company”), advises that Mr. Don Lay, Director, VP Corporate Development and Former CEO of the Company, passed away unexpectedly this weekend. Mr. Lay was a strong voice in the industry and CEO of Medallion from 2014 until May 2020.

Rod McKeen, Chairman of the Board, said, “It is with tremendous sadness that we share the passing of our colleague and friend Don Lay. Don was the strength and drive behind Medallion for many years, and laid the groundwork for the Company. He will be greatly missed.”

The Board of Medallion would like to extend their sincerest condolences to Don’s family at this difficult time.

For more information please contact CEO Mark Saxon at msaxon@medallionresources.com.

About Medallion Resources

Medallion Resources has developed a proprietary process and related business model to achieve low-cost, near-term, rare-earth element (REE) production by exploiting monazite. Monazite is a rare-earth phosphate mineral that is widely available as a by-product from mineral sand mining operations. Furthermore, Medallion has recently licensed an innovative REE separation technology from Purdue University which can be utilized by Medallion and sub-licensed by Medallion to third party REE producers.

More about Medallion (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRDN) can be found at medallionresources.com.

Contact(s):

Mark Saxon, President & CEO
+1.604.681.9558 or info@medallionresources.com

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