5.00 -0.02 (-0.40%)
After hours: 4:26PM EDT
|Bid||5.02 x 29200|
|Ask||5.08 x 29200|
|Day's Range||4.90 - 5.25|
|52 Week Range||2.38 - 5.32|
|Beta (3Y Monthly)||-0.39|
|PE Ratio (TTM)||∞|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||5.50|
We believe that such strong domestic economic data, expectations of a Fed rate cut and trade optimism will continue to act as strong catalysts for the U.S. stock market.
Since we are expecting "insurance cuts", where a slowdown are imminent but the economy isn't in a recession, the benchmark S&P 500 is still very much poised to come up with healthy gains in the near term.
The Zacks Analyst Blog Highlights: U.S. Silica, Chevron, AngloGold Ashanti, Kinross Gold and Barrick Gold
Nucor (NUE) expects performance of the steel mills unit to sequentially decline in Q3 mainly due to lower prices for sheet and plate steel.
Gold prices look to have established a new floor at $1,500 per ounce, Kinross Gold Corp's chief executive officer said on Monday, giving the Canadian miner confidence to push ahead with expansion plans at a key West African mine. "I don’t see a lot of technical barriers above it, but I do believe that there's people buying in to where we are today," Paul Rollinson told Reuters at the Denver Gold Forum. Kinross on Sunday said it would spend $150-million to boost capacity its Tasiast gold mine in Mauritania to 24,000 tonnes per day by 2023.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Coordinated drone strikes on key Saudi oil facilities sends oil prices higher. Here's a rundown on the big winners and losers from the oil price rally.
(This news release contains forward-looking information about expected future events and performance of the Company. We refer to the risks and assumptions set out in our.
Better-than-expected earnings performance and upbeat prospects for fiscal 2019 have contributed to the rally in Air Products' (APD) shares.
PPG Industries' (PPG) latest services platform enables businesses with several commercial facilities to identify and connect with established painters.
(Bloomberg) -- A group of investors including the hedge fund founded by billionaire John Paulson said “significantly mismanaged” gold companies could unlock $13 billion in value through mergers and cost cuts.The Shareholders’ Gold Council of 18 investors including Egyptian billionaire Naguib Sawiris’s La Mancha found that the median spending of senior gold producers is double that of mining companies that produce other metals, including Vale SA, the world’s largest iron ore producer.“The inescapable conclusion of our analysis is that gold producers are significantly mismanaged from a G&A perspective and that gold company boards need to do a better job holding management teams to account,” the council said. The potential to create more value is highest among mid-tier miners which were found to be “most inefficient” in managing costs.The investors are looking to boost shareholder value in gold mining companies to capture the benefits from the precious metal’s meteoric rise to a six-year high. In the three years through Wednesday, the VanEck Vectors Gold Miners ETF has risen less than 5%, trailing the 13% rally in bullion.About $2.5 billion of the combined profits of 47 gold companies the council tracked were spent on salaries and costs of head office management and boards, amounting to more than 10% of their aggregate market value, the council said in a report released Thursday.No-Premium MergersThe potential for cuts is greater among so-called mid-tier gold producers, the report said. Their general and administrative spending amount to almost 13% of their earnings, according to the median of 23 miners reviewed in the report.SGC urged the mid-tier companies to pursue no-premium mergers to cut duplicate corporate structures and achieve economies of scale. If the number of mid-tier companies were reduced by half, the council estimated that about $2.4 billion to $3.2 billion of value could potentially be unlocked.Of the 12 senior gold producers it cited, Polymetal International Plc. and Kinross Gold Corp. had the highest spending -- 17.5% and 11% of their earnings before interest, taxes, depreciation and amortization, respectively, the council said. In the case of mid-tier companies, the biggest expenditure was posted by Golden Star Resources Ltd. at 33%, it said.“Kinross regularly undertakes cost reviews, and earlier this year, we streamlined our leadership structure, which the simple analysis fails to take into account,” a Kinross spokesman said in an emailed statement. “It is also worth highlighting that it is not an apples-to-apples comparison, as the report’s simple analysis notes itself that different companies calculate G&A differently.”A spokesman for Polymetal said the miner didn’t immediately have enough information to be able to comment. Golden Star didn’t immediately respond to an email.“Gold mining is simpler than other types of mining, including because of the fact that gold doré bars can be transported at very low costs by plane,” the council said. “Copper and iron ore producers have complex selling arrangements for different concentrates and blends as well as heavy trucking and rail needs to deliver final products in bulk size, necessitating higher G&A expenses.”Other members of the council include John Hathaway, the general partner at Tocqueville Asset Management LP, and activist fund manager Livermore Partners.\--With assistance from Yuliya Fedorinova.To contact the reporter on this story: Vinicy Chan in New York at email@example.comTo contact the editors responsible for this story: Luzi Ann Javier at firstname.lastname@example.org, Joe RichterFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
WestRock's (WRK) decision to shut down operations of one of the three paper machines in its North Charleston mill to boost annual EBITDA by around $40 million.