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Iamgold

Iamgold Corp is a mid-tier gold mining company. The company operating gold mines are divided into geographic segments such as Burkina Faso - Essakane mine, Canada - Doyon division, including Westwood mine. The company's s non-gold mine segments are the Cote Gold project, Exploration and evaluation and development, and Corporate - which includes royalty interests. The company generates the majority of its revenue from the Burkina Faso segment.

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Shares of precious metals companies are trading lower amid a pullback in gold and silver.

Fission Uranium (OTC: <a class="ticker" href="https://www.benzinga.com/stock/fcuuf#OTC">FCUUF</a>) has completed the hearing before the Supreme Court of British Columbia regarding the approval of the final order for its acquisition by Paladin Energy Limited. The hearing began before the Court on Sept. 13, 2024, and ended on Sept. 26. Its decision on the final order is expected in the coming weeks.
Fission&#39;s acquisition by Paladin Energy, however, remains opposed by CGN Mining Company Limited (&quot;CGN&quot;), which holds an 11.26% stake in Fission. CGN is a subsidiary of China General Nuclear Power Corp.
Fission&#39;s shareholders voted in favor of the acquisition at the special meeting held on Sept. 9, 2024. The closure of the acquisition currently remains subject to receipt of the final order and clearance under the Investment Canada Act, as well as other customary conditions.
<h2>Fission Uranium-Paladin Energy Merger Overview</h2>
Fission Uranium inked the deal with the Australian miner, Paladin Energy , in June 2024. Per the agreement, Paladin Energy would acquire FCUUF&#39;s outstanding shares for an implied total equity value of C$1.14 billion ($0.846 billion).
The acquisition, if successful, will create a company with a pro forma market capitalization of $3.5 billion. It will be placed among the largest pure-play global uranium companies with a combined mineral resource of 544 million pounds of uranium and ore reserves of 157 million. It will have a solid portfolio of exploration, development and production assets, and a substantially increased international capital markets exposure.
Fission Uranium&#39;s shareholders will receive 0.1076 fully paid shares of Paladin Energy for each share held in FCUUF. On completion, existing Paladin Energy and Fission Uranium shareholders will own around 76% and 24% of the combined entity, respectively.
Paladin Energy has applied for the listing of its shares on the Toronto Stock Exchange concurrent with the completion of the transaction. Consequently, Fission Uranium shareholders will receive TSX-listed Paladin Energy shares.
<h2>FCUUF Buyout to Strengthen Paladin Energy&#39;s Uranium Portfolio</h2>
Paladin Energy is an independent uranium producer with 75% ownership of the world-class long-life Langer Heinrich Mine located in Namibia. It also owns a portfolio of uranium exploration and development assets in Canada and Australia.&nbsp; Through its Langer Heinrich Mine, it delivers uranium to major nuclear utilities across the world. It has a 17-year estimated mine life and a nameplate annual capacity of 6 million pounds of uranium.
The acquisition of Fission Uranium will make Paladin Energy the 100% owner of the Patterson Lake South uranium property. It is a proposed high-grade uranium mine and mill in Canada&#39;s Athabasca Basin region. The feasibility study for the property projects a 10-year mine life with an annual production of 9.1 million pounds of uranium.
This move will help Paladin Energy capitalize on the growing demand for uranium. Several factors are driving this demand, such as the need for more electricity generation and the global push to decarbonize electrical grids, among others.
Over the past few years, the global uranium market has undergone a shift from an inventory-driven to a production-driven market.&nbsp; Underinvestment in uranium mining operations over the past decade has been the reason for a structural deficit between global production and uranium requirements.&nbsp; In 2024 and 2025, the gap between production and demand is projected to be more than 66 million pounds of uranium. This gap is expected to reach more than 400 million pounds by 2034. Uranium prices will be supported by robust demand and tight supply.
<h2>Fission Uranium Stock&#39;s Price Performance</h2>
Shares of Fission Uranium have gained 11.1% in the past year compared with the industry&#39;s 37.7% growth.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/8a/79511.jpg?v=1484847009" />
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<h2>FCCUF&#39;s Zacks Rank &amp; Stocks to Consider</h2>
Fission Uranium currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the basic materials space are Carpenter Technology Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/crs#NYSE">CRS</a>), Eldorado Gold Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ego#NYSE">EGO</a>) and IAMGOLD Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/iag#NYSE">IAG</a>). Each of these stocks sports a Zacks Rank #1 (Strong Buy) at present.
The Zacks Consensus Estimate for Carpenter Technology&#39;s fiscal 2025 earnings is pegged at $6.06 per share. The consensus estimate for earnings has moved 17% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 15.9%. CRS&#39; shares have gained 129% in a year.
The consensus estimate for Eldorado Gold&#39;s 2024 earnings is pegged at $1.32 per share. The consensus estimate for earnings has moved 16% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 430%. EGO&#39;s shares have gained 106% in a year.
The Zacks Consensus Estimate for IAMGOLD&#39;s 2024 earnings is pegged at 39 cents per share. The consensus estimate for earnings has moved 44% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 200%. IAG&#39;s shares have gained 160% in a year.
<a href="https://www.zacks.com/stock/news/2342763/fission-uranium-awaits-court-decision-on-acquisition-by-paladin-energy?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2342763">To read this article on Zacks.com click here.</a>

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Fission Uranium Awaits Court Decision on Acquisition by Paladin Energy

Vice President Kamala Harris has vowed to establish a national stockpile of critical minerals, citing their importance for economic and national security. This initiative forms part of her broader $100 billion industrial policy proposal, unveiled Wednesday, which includes various measures to strengthen the <a target="_blank" href="https://www.benzinga.com/topic/us-economy" rel="noreferrer noopener">U.S. economy</a>.
Harris's &#8220;America Forward&#8221; agenda aims to reduce the U.S. <a target="_blank" href="https://www.benzinga.com/markets/commodities/24/04/38114381/critical-minerals-race-heats-up-us-eu-challenge-chinas-dominance" rel="noreferrer noopener">reliance on foreign sources</a>, particularly China, for these crucial resources. The strategy proposes new incentives, including tax credits, and potentially invoking the Defense Production Act to boost domestic processing capabilities.
As reported by Bloomberg, Kamala Harris&#8217; campaign stated that enhanced domestic production and other sustainable initiatives would strengthen critical mineral supply chains with allies and partners. This includes encouraging investments that boost the production of these resources in the U.S. and among allied countries.
Critical minerals, including lithium, cobalt, and rare earth elements, are essential for modern technology and defense applications. These materials are indispensable for producing electric vehicle batteries, semiconductors, and military equipment. China currently dominates the global processing of many minerals, posing a strategic vulnerability for the U.S. As demand for clean energy and advanced technology grows, securing a steady supply of these minerals has become a top priority.
President Biden's administration has already <a target="_blank" href="https://www.benzinga.com/markets/esg/24/03/37914506/bidens-475m-for-mining-aims-to-power-communities-hit-hardest-by-our-evolving-energy-landscape" rel="noreferrer noopener">made significant strides</a> in addressing this issue. Through initiatives like Executive Order 14017, Biden ordered a comprehensive review of critical mineral supply chains, leading to billions in investments to strengthen domestic capabilities. Since Biden took office, more than $120 billion has been committed to building battery and critical mineral supply chains, creating over 250,000 energy jobs, and ensuring future demand for essential materials like lithium and cobalt is met.
Despite these efforts, the U.S. mining sector still needs to overcome significant challenges. Domestic mining projects take <a target="_blank" href="https://www.benzinga.com/news/24/07/39870803/us-mine-development-delays-among-worlds-longest-second-only-to-zambia" rel="noreferrer noopener">nearly 29 years </a>to move from discovery to production, according to a study from S&amp;P Global published in July.
This timeline is significantly longer than in countries like Canada and Australia, where litigation risks and regulatory hurdles are much lower. These factors have slowed progress and discouraged private-sector investment in U.S. mining ventures.
Still, the push to increase domestic production of critical minerals has gained bipartisan support, as Republicans and Democrats recognize its strategic importance.
Thus, regardless of the outcome of the upcoming election, the U.S. will likely continue prioritizing critical mineral production, securing the nation's needs for the energy transition.
Read Next: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/41038172/amid-resistance-from-harris-and-trump-nippon-steel-scores-favorable-arbitration-ruling-in-14-9b-" rel="noreferrer noopener">Amid Resistance From Harris And Trump, Nippon Steel Scores Favorable Arbitration Ruling In $14.9B US Steel Acquisition Deal</a>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com" target="_blank" rel="noreferrer noopener">licensing@benzinga.com</a> to get started!
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Harris Vows To Push 'America Forward,' Stockpile Critical Minerals

SAND

Shares of gold companies are trading higher after the price of the commodity reached all-time highs following last week's Fed rate cut.

Air Products and Chemicals, Inc.&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/apd#NYSE">APD</a>) shares have shot up 21.2% over the past six months. The company has also outperformed its industry&#39;s rise of 0.1% over the same time frame. APD has also topped the S&amp;P 500&#39;s roughly 9.2% rise over the same period.
Let&#39;s take a look into the factors that are driving APD stock.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/5b/78743.jpg?v=1485300731" /> 
Image Source: Zacks Investment Research
<h2>APD Gains on High-return Projects &amp; Productivity Actions</h2>
Air Products is benefiting from its investments in high-return industrial gas projects and productivity measures. It remains focused on its gasification strategy and is executing its growth projects. These projects are expected to be accretive to earnings and cash flows.
APD is realizing the benefits of the completion of the second phase of the Jazan project in Saudi Arabia. The company has a total available capacity to deploy (over fiscal 2024-2033) $30.8 billion in high-return investments aimed at creating significant shareholder value.
Air Products is also driving productivity to improve its cost structure. It is seeing the positive impacts of its productivity actions. Benefits from additional productivity and cost improvement programs are likely to support its margins moving ahead. The company also remains focused on improving pricing amid an inflationary environment.
The company also remains committed to maximizing returns to shareholders leveraging strong balance sheet and cash flows. Air Products&#39; board, earlier this year, increased its quarterly dividend to $1.77 per share. This marked the 42nd straight year of dividend increase. APD paid roughly $1.5 billion in dividends to shareholders in 2023. It expects to return roughly $1.6 billion to shareholders through dividends in 2024.
APD&#39;s adjusted earnings per share of $3.20 for the fiscal third quarter topped the Zacks Consensus Estimate of $3.04. It continues to expect fiscal 2024 adjusted earnings per share of $12.20-$12.50, suggesting a 6-9% increase from the previous year.
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<h3>Air Products and Chemicals, Inc. Stock Price and Consensus</h3>
<img alt="Air Products and Chemicals, Inc. Price and Consensus" src="https://staticx-tuner.zacks.com/images/charts/e0/1727086687.png" style="height:265px; width:590px" title="" />
Air Products and Chemicals, Inc. price-consensus-chart | Air Products and Chemicals, Inc. Quote
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<h2>APD&#39;s Zacks Rank &amp; Other Key Picks</h2>
APD currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the Basic Materials space are IAMGOLD Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/iag#NYSE">IAG</a>), Eldorado Gold Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ego#NYSE">EGO</a>) and Hawkins, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hwkn#NASDAQ">HWKN</a>). While IAMGOLD and Eldorado Gold sport a Zacks Rank #1 (Strong Buy), Hawkins carries a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for IAMGOLD&#39;s current-year earnings has increased by 46.4% in the past 60 days. IAG beat the consensus estimate in each of the last four quarters with the average surprise being 200%. Its shares have shot up roughly 153% in the past year.
The consensus estimate for Eldorado Gold&#39;s current year earnings is pegged at $1.40 per share, indicating a year-over-year rise of 145.6%. EGO beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 430.3%. The company&#39;s shares have rallied roughly 83% in the past year.
The Zacks Consensus Estimate for Hawkins&#39; current fiscal-year earnings is pegged at $4.14, indicating a rise of 15.3% from year-ago levels. The Zacks Consensus Estimate for HWKN&#39;s current fiscal-year earnings has increased 12.8% in the past 60 days. The stock has rallied around 106% in the past year.
<a href="https://www.zacks.com/stock/news/2340102/air-products-stock-up-21-in-6-months-what-s-driving-the-rise?cid=CS-BENZ-FT-analyst_blog|price_surge_/_plunge-2340102">To read this article on Zacks.com click here.</a>

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Air Products Stock Up 21% in 6 Months: What's Driving the Rise?

Shares of precious metals stocks are trading higher as gold and silver rise after the Fed on Wednesday cut rates by 50 basis points.

Shares of gold stocks are trading higher in sympathy with overall market sentiment after the Fed policy decision to cut rates by 50 basis points.

GATO

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Shares of precious metals stocks are trading higher as gold and silver rise amid a drop in the US dollar following recent economic data.

Shares of precious metals stocks are trading higher as gold and silver rise amid a drop in the US dollar following recent inflation data.

Kronos Worldwide, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kro#NYSE">KRO</a>) is expected to benefit from higher demand for titanium dioxide (TiO2) and easing pricing pressure this year. Cost-reduction initiatives are also expected to support margins.
We are positive about KRO&#39;s prospects and believe that the time is right for you to add the stock to your portfolio as it looks promising and is poised to carry the momentum ahead.
Let&#39;s take a look into the factors that make this Zacks Rank #2 (Buy) stock a compelling choice for investors right now.
<h2>Kronos Worldwide&#39;s Stock Outperforms Industry</h2>
KRO has outperformed the industry it belongs to over the past year. The company&#39;s shares have rallied 32.8% compared with a 9.6% decline of the industry.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/6e/77269.jpg?v=1616124123" />
Image Source: Zacks Investment Research
<h2>Solid Earnings Growth Prospects for KRO</h2>
The Zacks Consensus Estimate for earnings for 2024 for Kronos Worldwide is currently pegged at 88 cents, reflecting an expected year-over-year growth of 304.7%. Earnings are also expected to register a 288.9% growth in third-quarter 2024.
<h2>KRO&#39;s Earnings Estimates Northbound</h2>
Earnings estimates for KRO have been going up over the past 60 days. The Zacks Consensus Estimate for 2024 has increased by 3.5%. The consensus estimate for the third quarter has also been revised 9.7% upward over the same time frame. The favorable estimate revisions instill investor confidence in the stock.
<h2>Higher TiO2 Demand, Cost Actions Aid Kronos Worldwide</h2>
Kronos is well-positioned to gain from higher demand for TiO2 in major markets. Per the company, TiO2 consumption has increased at a compound annual growth rate of around 2% since 2000. Western Europe and North America account for roughly 14% and 15% of global TiO2 consumption, respectively. These regions are expected to continue to be the biggest consumers of TiO2. Markets for TiO2 are growing in South America, Eastern Europe, the Asia Pacific region and China.
The company expects sales volumes in 2024 to exceed 2023 levels factoring in the recently experienced improved demand and expectations that demand will continue to improve this year.
Kronos Worldwide is also taking actions to reduce costs and align production and inventories to expected demand levels, which are expected to support its margins. It has increased its production rates in sync with current and expected near-term demand improvement. It expects its production rates for the balance of 2024 to be higher than the level witnessed in 2023.
The company&#39;s internal cost initiatives are also expected to continue to support margins in 2024. Reduced energy costs along with its cost-cutting initiatives and the realization of selling price increases are likely to result in improved margins on a year-over-year basis this year. The company has undertaken TiO2 selling price hikes, which need to be sustained to attain margins in line with historical levels. KRO expects to report higher operating results on a year-over-year basis for full-year 2024 based on the expected improved demand, higher selling prices and reduced production costs.
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<h3>Kronos Worldwide Inc Price and Consensus</h3>
<img alt="Kronos Worldwide Inc Price and Consensus" src="https://staticx-tuner.zacks.com/images/charts/76/1726047534.png" style="height:265px; width:580px" title="" />
Kronos Worldwide Inc price-consensus-chart | Kronos Worldwide Inc Quote
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<h2>Stocks to Consider</h2>
Other top-ranked stocks in the Basic Materials space are, Hawkins, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hwkn#NASDAQ">HWKN</a>), IAMGOLD Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/iag#NYSE">IAG</a>) and Eldorado Gold Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ego#NYSE">EGO</a>), each sporting a Zacks Rank #1 (Strong Buy).
The Zacks Consensus Estimate for Hawkins&#39; current fiscal-year earnings is pegged at $4.14, indicating a rise of 15.3% from year-ago levels. The Zacks Consensus Estimate for HWKN&#39;s current fiscal-year earnings has increased 12.8% in the past 60 days. The stock has rallied around 103% in the past year.
The consensus estimate for IAMGOLD&#39;s current-year earnings has increased by 46.4% in the past 60 days. IAG beat the consensus estimate in each of the last four quarters with the average surprise being 200%. Its shares have shot up 111% in the past year.
The Zacks Consensus Estimate for Eldorado Gold&#39;s current year earnings is pegged at $1.35 per share, indicating a year-over-year rise of 136.8%. EGO beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 430.3%. The company&#39;s shares have rallied roughly 69% in the past year.
<a href="https://www.zacks.com/stock/news/2334557/here-s-why-you-should-buy-kronos-worldwide-stock-right-now?cid=CS-BENZ-FT-analyst_blog|rank_focused-2334557">To read this article on Zacks.com click here.</a>

Here's Why You Should Buy Kronos Worldwide Stock Right Now

Allied Gold (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AAUCF#OTC">AAUCF</a>) has reached a preliminary agreement with Mali's government for a 10-year permit on the Sadiola gold mine and permission to exploit the nearby Diba deposit.
The military-led African country rich in gold and other valuable metals has <a target="_blank" href="https://www.benzinga.com/news/24/07/39732127/barrick-gold-navigates-new-mining-code-political-changes-to-secure-mali-operations" rel="noreferrer noopener">recently overhauled its mining laws</a>, targeting higher state revenues through increased royalties and state ownership.
The Sadiola gold mine in Mali's Kayes region has been Allied Gold's key asset since its acquisition from Iamgold Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAG#NYSE">IAG</a>) in 2020. The mine is operated through Société d'Exploitation des Mines d'Or de Sadiola SA (SEMOS), of which Allied holds an 80% stake, while the Malian government retains 20%.
The mine boasts significant gold reserves and is undergoing an ambitious expansion project. The new agreement with the Malian junta includes plans to develop the nearby Korali-Sud (Diba) deposit.
Now read: <a target="_blank" href="https://www.benzinga.com/markets/asia/24/09/40716696/biden-gears-up-to-block-nippon-steels-15b-us-steel-acquisition-report" rel="noreferrer noopener">Biden Gears Up To Block Nippon Steel's $15B US Steel Acquisition: Report</a>
Allied Gold's expansion plans for Sadiola are divided into two phases. The first phase focuses on maintaining steady production, improving infrastructure, and modifying the existing processing plant.
This phase is projected to cost $65 million and aims to increase gold production to between 200,000 and 230,000 ounces annually for at least four years. Key improvements include upgrades to the plant's milling and crushing capabilities to handle more fresh ore. Additionally, $5 million will be invested in cyanide detoxification, accelerating environmental compliance.
The second phase, expected to begin in 2026 and conclude by 2028, involves constructing a new processing plant specifically designed for fresh ore. Allied has planned $400 million for this phase, which could elevate the mine into a top-tier, low-cost gold producer.
The new plant and infrastructure will increase production, potentially reaching 400,000 ounces per year, making Sadiola a generational asset for the company.
However, the ongoing geopolitical situation, with multiple ongoing armed conflicts and increasing de-globalization, made mining outside top-tier jurisdictions riskier. Following the news, Allied stock closed the day at CA$2.79, falling 3.8%.
The presence of the Wagner Group, a Russian paramilitary organization, and the jihadist group JNIM, aligned with Al-Qa'ida, pose additional threats to the country's long-term stability.
Barrick Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>), another major mining company, has been closely monitoring the situation as it operates a tier 1 Loulo-Gounkoto mine with over 7 million gold ounces of reserves.
Also read:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40704091/trafigura-signs-400m-prepayment-deal-with-mineral-resources" target="_blank" rel="noreferrer noopener">Trafigura Signs $400M Prepayment Deal With Mineral Resources</a></li>
</ul>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com" target="_blank" rel="noreferrer noopener">licensing@benzinga.com</a> to get started!
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AAUCF

Allied Gold Announces An Agreement With Malian Junta, Shares Dip

Suzano S.A. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/suz#NYSE">SUZ</a>) announced that it closed the previously mentioned acquisition of a 15% stake in Lenzing from its current majority stakeholder, B&amp;C Group (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bgc#NASDAQ">BGC</a>). This move will help Suzano expand in new markets.
<h2>Details on Suzano&#39;s Deal With B&amp;C</h2>
In June 2024, Suzano and B&amp;C announced that they would form a long-term syndicate to together hold a 52.25% stake in the Vienna-based cellulosic fibers supplier company, Lenzing. Per their deal, Suzano will acquire a 15% stake in Lenzing and B&amp;C will hold the majority of the stake (37.25%) and remain the controlling member of the new syndicate.
Along with the 15% stake, Suzano received the right to two seats on Lenzing&#39;s board of directors.
As part of the long-term partnership, Suzano has the choice to acquire another 15% stake in Lenzing&nbsp;from B&amp;C until 2028.
<h2>Transaction to Boost Lenzing &amp; SUZ&#39;s Position</h2>
Lenzing is a global supplier of premium cellulosic fibers for the textile and non-woven industry. This deal will further strengthen Lenzing&#39;s position as a global market leader for sustainable cellulosic fibers. SUZ aims to boost Lenzing&#39;s position with its established technology, product range and technical knowledge.
SUZ will gain from Lenzing&#39;s deep-rooted understanding of pulp production and cost excellence. The partnership will help Suzano strengthen its competitive position and global presence.
The transaction marks the continuation of Suzano&#39;s strategy to focus on investments, which will enlarge its addressable market in scalable and competitive business models. The investment also moves the company closer to end consumers.
<h2>Suzano&#39;s Q2 Performance</h2>
In the second quarter of 2024, the company reported net sales of $2.2 billion, up from $1.8 billion in the prior-year quarter. The company reported an adjusted loss of 56 cents in the quarter under review against the prior-year quarter&#39;s earnings of 79 cents.
<h2>SUZ Share Price Performance</h2>
Shares of Suzano have lost 3.7% in the past year against the industry&#39;s 32.7% growth.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/a1/76253.jpg?v=2004195176" />
Image Source: Zacks Investment Research
<h2>Zacks Rank &amp; Stocks to Consider</h2>
SUZ currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks from the basic materials space are Carpenter Technology Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/crs#NYSE">CRS</a>), IAMGOLD Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/iag#NYSE">IAG</a>) and Eldorado Gold Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ego#NYSE">EGO</a>). CRS, IAG&nbsp;and EGO sport a Zacks Rank #1 (Strong Buy) at present.
The Zacks Consensus Estimate for Carpenter Technology&#39;s fiscal 2025 earnings is pegged at $6.06 per share. The consensus estimate for 2025 earnings has moved 17% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 15.9%. CRS shares have gained 155.9% in a year.
The Zacks Consensus Estimate for IAMGOLD&#39;s 2024 earnings is pegged at 39 cents per share. The consensus estimate for 2024 earnings has moved 44% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 200%. IAG shares have gained 137% in a year.
The Zacks Consensus Estimate for Eldorado Gold&#39;s 2024 earnings is pegged at $1.32 per share. The consensus estimate for 2024 earnings has moved 22% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 430%. EGO shares have gained 103% in a year.
<a href="https://www.zacks.com/stock/news/2330552/suzano-closes-15-stake-buyout-deal-with-lenzing-to-expand-business?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2330552">To read this article on Zacks.com click here.</a>

Latin America

Suzano Closes 15% Stake Buyout Deal With Lenzing to Expand Business

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SBSW

Shares of precious metal companies are trading lower amid a drop in the price of gold. Weakness in the commodity may be due to August's ISM Manufacturing PMI data indicating an economic contraction and pending non-farm payrolls data that may determine the size of future rate cuts.

BHP Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bhp#NYSE">BHP</a>) reported a 2% year-over-year increase in underlying attributable profit from continuing operations at $13.7 billion for fiscal 2024 (ended June 30, 2024).&nbsp;The growth was attributed to higher prices and sales volumes in BHP&#39;s iron ore and copper operations, productivity initiatives, cost discipline and favorable raw material costs. This offset the impact of lower energy coal and nickel prices and higher labor costs on profits.
BHP&#39;s underlying earnings per share were $2.70 compared with $2.65 in fiscal 2023. Earnings per American Depositary Share&nbsp;were $5.39s, higher than $5.30 in the previous fiscal year. The metric missed the Zacks Consensus Estimate of $5.52. BHP&#39;s each ADS represents two fully-paid ordinary shares.
<h2>BHP&#39;s FY24 Revenues Up 3%</h2>
Revenues for fiscal 2024 totaled $55.7 billion, which beat the Zacks Consensus Estimate of $54 billion. The top line was 3.4% higher than the prior fiscal year. The improvement was due to higher prices and sales volumes for iron ore and copper compared with the prior fiscal.&nbsp;&nbsp; This was offset by lower energy coal and nickel prices, and lower steelmaking coal volumes following the divestment of Blackwater and Daunia on April 2, 2024.
The Iron ore segment&#39;s revenues rose 13% year over year to around $28 billion and revenues in the Copper segment increased 16% to $18.6 billion. Both segments benefited from higher volumes and prices. The Coal segment&#39;s revenues plunged 30% to $7.7 billion.
<h2>BHP Delivers Solid Production Numbers for Iron &amp; Copper</h2>
The company&#39;s total iron ore production for fiscal 2024 was a record 260 Mt, up 1% year over year. Western Australia Iron Ore (WAIO)&nbsp; delivered a record iron ore production of 255 Mt (287 Mt on a 100% basis). This reflects solid supply-chain performance with increased capacity unlocked by the record production at South Flank. These gains helped offset the impacts of the continued tie-in activity for the Rail Technology Program 1.
Copper production rose 9% year over year to 1,865 kt, the highest in 15 years. Nickel production was up 2% to 81.6 kt
<h2>BHP Witnesses 4% Rise in EBITDA</h2>
Underlying earnings before interest, taxes, depreciation and amortization (EBITDA) increased 4% from the prior fiscal to $29 billion. Higher revenues and lower diesel and acid prices were offset by higher labor costs. Productivity initiatives and BHP&#39;s efforts to control costs offset higher labor costs. The underlying EBITDA margin was 54%, flat with the prior fiscal. &nbsp;
For the Iron ore segment, underlying EBITDA was up 13% year on year to $18.9 billion while the Copper segment&#39;s underlying EBITDA increased 29% to $8.6 billion. The Coal segment&#39;s underlying EBITDA plunged 54% year over year to $2.3 billion.
Profit from operations (including exceptional items of $6.1 billion) declined 24% year over year to $17.5 billion.&nbsp;
In fiscal 2024, BHP&#39;s attributable profit (for total operations) declined 39% year over year to $7.9 billion, which included an exceptional loss of $5.8 billion. The figure of $5.8 billion includes a $2.7 billion impairment of Western Australia Nickel and a $3.8 billion charge related to the Samarco dam failure, offset by a gain of $0.7 billion on disposal of the Blackwater and Daunia mines.
<h2>BHP&#39;s Cash Flow Improves, Debt Down</h2>
Net operating cash flow for fiscal 2024 was $20.7 billion compared with $18.7 billion in fiscal 2023. The improvement was attributed to lower tax and royalty-related taxation finalization payments compared with the prior fiscal. BHP Group reported a free cash flow of $11.9 billion, a significant improvement from $5.6 billion in fiscal 2023.&nbsp;
The company invested $9.3 billion in line with its Capital Allocation Framework. This included $5.9 billion in organic development and $3 billion in maintenance and decarbonization.
BHP&#39;s cash and cash equivalents as of June 30, 2024, amounted to $12.5 billion compared with $12.4 billion as of June 30, 2023. Capital and exploration expenditures totaled $9.3 billion, up 31% from the prior fiscal year.
Backed by its solid cash flow, BHP continued to repay debt and as of the end of fiscal 2024, net debt was $9.1 billion compared with $11.2 billion as of fiscal 2023 end.
BHP has budgeted capital and exploration expenditures in fiscal 2024 and 2025 to be $10 billion and $11 billion, respectively.&nbsp;
BHP&#39;s board has announced a dividend of 74 cents per share or a total of $3.8 billion. This translates to a payout ratio of 53%.
<h2>BHP&#39;s Production &amp; Unit Cost Guidance for FY25</h2>
BHP&#39;s iron ore production guidance for fiscal 2025 is in the range of 255-265.5 Mt. WAIO&#39;s production is expected to be between 250 Mt and 260 Mt (282 Mt and 294 Mt on a 100% basis).
The company expects copper production to be within the range of 1,845-2,045 kt. Production guidance for metallurgical coal is in the band of 16.5-19 Mt while the guidance for energy coal is in the range of 13-15 Mt.
Unit cost guidance for WAIO is in the range of $18.00-$19.50 per ton. Escondida unit cost is estimated to be in the band of $1.30-$1.60 per pound. Spence unit costs are expected to be between $2.00 and $2.30 per pound. Copper South Australia&#39;s unit cost is anticipated to be between $1.30 and $1.80 per pound. BMA unit cost is expected to be between $112 and $124 per ton.
<h2>BHP Stock&#39;s Price Performance</h2>
BHP Group&#39;s shares have fallen 18.4% year to date compared with the industry&#39;s 10.1% decline.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/b5/75580.jpg?v=1860463378" /> 
Image Source: Zacks Investment Research
<h2>BHP&#39;s Zacks Rank &amp; Other Key Picks</h2>
BHP Group currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks from the basic materials space are Carpenter Technology Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/crs#NYSE">CRS</a>), IAMGOLD Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/iag#NYSE">IAG</a>) and Eldorado Gold Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ego#NYSE">EGO</a>). CRS, IAG and EGO sport a Zacks Rank #1 (Strong Buy) at present.
The Zacks Consensus Estimate for Carpenter Technology&#39;s fiscal 2025 earnings is pegged at $6.06 per share. The consensus estimate for&nbsp; earnings has moved 17% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 15.9%. CRS shares have gained 102.5% year to date.
The consensus estimate for IAMGOLD&#39;s 2024 earnings is pegged at 39 cents per share. The consensus estimate for earnings has moved 44% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 200%. IAG shares have gained 104% so far this year.
The Zacks Consensus Estimate for Eldorado Gold&#39;s 2024 earnings is pegged at $1.32 per share. The consensus estimate for earnings has moved 22% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 430%. EGO shares have gained 37% year to date.
<a href="https://www.zacks.com/stock/news/2327883/bhp-group-fy24-earnings-revenues-improve-y-y-on-higher-prices?cid=CS-BENZ-FT-analyst_blog|earnings_article-2327883">To read this article on Zacks.com click here.</a>

Guidance

BHP Group FY24 Earnings & Revenues Improve Y/Y on Higher Prices

Shares of AngloGold Ashanti PLC (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/au#NYSE">AU</a>) scaled a new 52-week high of $32.34 on Aug 20 before ending the session lower at $32.09. The upside was fueled by a spike in gold prices.
AngloGold Ashanti has a market capitalization of $13.5 billion and currently carries a Zacks Rank #3 (Hold).
Shares of the company have gained 71.7% year to date, outpacing the industry&#39;s 28.9% growth and the S&amp;P 500&#39;s 17.7% rise. Meanwhile, the Basic Materials sector has declined 4.2% in the same time frame.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/67/74890.jpg?v=390003820" />
Image Source: Zacks Investment Research
<h3>What&#39;s Driving the Stock?</h3>
Solid H1 Results: AngloGold Ashanti&#39;s shares have gained 15% since the company reported strong first-half fiscal 2024 results on Aug 6. Adjusted earnings per share were 74 cents, a 429% improvement from 14 cents in the prior year&#39;s comparable period.&nbsp;
The substantial increase in earnings was attributed to increased gold sales, higher average gold prices and lower operating costs. Earnings also benefited from higher equity earnings from joint ventures, an increase in finance income and lower foreign exchange losses, which were partly offset by higher losses on non-hedge derivatives, rising corporate and operating expenses and increased taxation.&nbsp;
The company witnessed a significant turnaround in its Brazil operations, which also contributed to the year-over-year gain in cash flow and earnings. Last year, it&nbsp; had taken steps to restructure the business in Brazil after a sustained period of losses, which led to the improvement.&nbsp;
Gold production rose 2% year over year to 1.25 million ounces, aided by improvement at AngloGold Ashanti Minera&ccedil;&atilde;o, Serra Grande, Iduapriem, Geita and Kibali. Revenues were up 16.7% year over year to $2.55 billion.
Total cash costs per ounce decreased 1% year over year to $1,158 in the first half from $1,169 in the same period last year. This was mainly aided by improved operational performance and enhanced cost efficiency linked to the company&#39;s Full Asset Potential initiatives.
Adjusted earnings before interest, tax, depreciation and amortization increased 65% year over year in the first half to $1.118 billion. Free cash flow was an inflow of $206 million against an outflow of $205 million in the comparable period in the prior fiscal. This increase was mainly due to the turnaround in the Brazil operations, a higher average gold price received per ounce and loan repayments from Kibali, partially offset by higher capital expenditure and increased cash taxes.
Following the upbeat results, the company also declared an interim dividend of 22 cents a share.
Upbeat Outlook: AngloGold Ashanti maintained its gold production guidance for 2024 in the range of 2.65 &ndash; 2.85 million ounces. The midpoint of the guidance indicates growth of approximately 4% from 2023. The increase will be led by the ramp-up at Obuasi and Siguiri, where AngloGold Ashanti expects year-over-year recovery following the 2023 carbon-in-leach tank failure. Total cash costs are projected to be between $1,075 and&nbsp; 1,175 per ounce. &nbsp;
For 2025, gold production is expected to be in the range of 2.71-2.91 million ounces, which indicates 2% year-over-year growth. This will be driven primarily by the expected continued ramp-up at Obuasi and modest gains across multiple mines. The company expects total cash costs per ounce to be in the range of $1,050 - $1,150. Gains from the Full Asset Potential initiative and gold production efficiencies are anticipated to lower unit costs.
Rally in Gold Prices: Gold prices have gained 21.8% so far in 2024, surpassing the performance of most major asset classes. Several factors have contributed to this solid performance in 2024, including increased geopolitical tensions, the potential for monetary policy easing and continuous purchasing by central banks. The yellow metal is currently at around $2,510 per ounce supported by increasing bets on U.S interest rate cuts.
<h3>Stocks to Consider</h3>
Some better-ranked stocks from the basic materials space are Carpenter Technology Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/crs#NYSE">CRS</a>), IAMGOLD Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/iag#NYSE">IAG</a>) and Newmont Mining Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nem#NYSE">NEM</a>). Each of these stocks sports a Zacks Rank #1 (Strong Buy) at present.
The Zacks Consensus Estimate for Carpenter Technology&#39;s fiscal 2025 earnings is pegged at $6.06 per share, which indicates a 27.85% increase from fiscal 2024. The consensus estimate for earnings has moved 17% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 15.9%. CRS shares have gained 99.9% year to date.
The Zacks Consensus Estimate for IAMGOLD&#39;s 2024 earnings is pegged at 39 cents per share, which indicates 333% year-over-year growth. The consensus estimate for earnings has moved 44% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 200%. IAG shares have gained 104% year to date.
The Zacks Consensus Estimate for Newmont&#39;s 2024 earnings is pegged at $2.82 per share, which indicates 75% year-over-year growth. The consensus estimate for earnings has moved 15.6% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 19.2%. NEM shares have gained 24% year to date.
<a href="https://www.zacks.com/stock/news/2325259/anglogold-ashanti-au-hits-52-week-high-what-s-aiding-it?cid=CS-BENZ-FT-analyst_blog|52week_high/low-2325259">To read this article on Zacks.com click here.</a>

AngloGold Ashanti Hits 52-Week High: What's Aiding It?

Endeavour Silver Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/exk#NYSE">EXK</a>) announced that processing resumed at the Guanacevi mine site following the completion of temporary modifications.
On Aug 12, 2024, the company announced that the trunnion of the primary ball mill at the Guanacevi mill had failed, resulting in the suspension of material processing at the mill.
Since then, EXK made modifications to the plant to repurpose one of the regrind mills as the primary ball mill. However, mining will continue at a reduced rate of 400 tons per day (tpd) during this temporary period to maintain the ore body&#39;s safety and long-term viability. During this temporary phase, the plant has the potential to produce around 500 tpd or around half of its projected output capacity of 1,200 tpd.
In this period, the mining operation will concentrate on delivering the highest-grade ore to the mill while accumulating the rest. Contract mining and local third-party material procurement will be halted until the process plant operations are restored to full capacity.
These temporary solutions are expected to manage cash flow until the primary mill is fully functioning.
Due to the lower operating capacity for 15 weeks, 2024 operating costs and all in-sustaining costs will be higher than previously projected. Notably, operating costs and all other sustaining costs increased year over year in the first half of 2024.
During this decreased processing period, Guanacevi&#39;s production is expected to fall by 0.9 million to 1.1 million silver ounces and 2,000-3,000 gold ounces from its original operating outlook. The annual consolidated silver production for 2024 is estimated at 4.4-4.6 million ounces, with gold production of 36,000-38,000 ounces.
Endeavour Silver&#39;s silver-equivalent production for 2024 is expected between 7.3 million and 7.6 million ounces. It produced 4.4 million silver-equivalent ounces in the first half of 2024.
The company reported silver equivalent production of 2.16 million ounces in the second quarter of 2024, down 5% year over year. EKX produced 1.3 million ounces of silver in the quarter, down 12% from the second quarter of 2023. This was due to a 12% reduction in silver output at the Guanacev&iacute; mine and a 17% decrease at Bola&ntilde;itos, both due to lower grades.
Endeavour Silver, however, witnessed a 7% year-over-year improvement in gold production at 10,549 ounces. The rise was driven by higher gold grades mined at both Guanacev&iacute; and Bola&ntilde;itos, as well as increased gold content in third-party feed processed at Guanacev&iacute;. Gold output at the Guanacev&iacute; mine rose 9% year over year to 4,243 ounces, whereas the Bola&ntilde;itos mine&#39;s output grew 6% to 6,306 ounces.
<h3>Price Performance</h3>
Shares of EXK have gained 13.7% over the past year compared with the industry&#39;s 48.8% growth.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/b3/74749.jpg?v=42316998" />
Image Source: Zacks Investment Research
<h3>Zacks Rank &amp; Stocks to Consider</h3>
Endeavour Silver currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the basic materials space are Carpenter Technology Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/crs#NYSE">CRS</a>), IAMGOLD Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/iag#NYSE">IAG</a>) and Eldorado Gold Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ego#NYSE">EGO</a>). CRS, IAG&nbsp;and EGO sport a Zacks Rank #1 at present.
The Zacks Consensus Estimate for Carpenter Technology&#39;s fiscal 2025 earnings is pegged at $6.06 per share. The consensus estimate for 2025 earnings has moved 17% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 15.9%. CRS shares have gained 155.9% in a year.
The Zacks Consensus Estimate for IAMGOLD&#39;s 2024 earnings is pegged at 39 cents per share. The consensus estimate for 2024 earnings has moved 44% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 200%. CRS shares have gained 137% in a year.
The Zacks Consensus Estimate for Eldorado Gold&#39;s 2024 earnings is pegged at $1.32 per share. The consensus estimate for 2024 earnings has moved 22% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 430%. EGO shares have gained 103% in a year.
<a href="https://www.zacks.com/stock/news/2324480/endeavour-silver-exk-restarts-guanacevi-mill-at-reduced-rate?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2324480">To read this article on Zacks.com click here.</a>

Endeavour Silver Restarts Guanacevi Mill at Reduced Rate

Shares of IAMGOLD Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/iag#NYSE">IAG</a>) scaled a new 52-week high of $5.12 on Aug 16 before ending the session slightly lower at $5.08. The increase was fueled by rising gold prices and IAG&#39;s solid second-quarter production numbers and results.
IAMGOLD has a market capitalization of $2.89 billion and currently sports a Zacks Rank #1 (Strong Buy).
Shares of the company have gained 135.2% in the past year, outpacing the industry&#39;s 43.6% growth. The S&amp;P 500 has risen 28.3% in the same time frame.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/a6/74622.jpg?v=545099382" />
Image Source: Zacks Investment Research
<h3>What&#39;s Aiding the Stock?</h3>
Solid Q2 Results: IAMGOLD announced second-quarter adjusted earnings per share of 16 cents on Aug 8, which reflected a solid improvement from the loss of 1 cent reported in the year-ago quarter. The upside was driven by higher gold sales and realized gold prices. Revenues surged 61.1% year over year to $385 million.
Gold sales were 167,000 ounces on an attributable basis, 38% higher than 121,000 ounces in the second quarter of 2023. The average realized gold price per ounce was up 16% year over year to $2,294.
On Mar 31, 2024, the company announced the first gold pour at the C&ocirc;t&eacute; Gold mine. The mine is operated as a joint venture between IAG and Sumitomo Metal Mining Co., Ltd., a subsidiary of Sumitomo (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ssumy#OTC">SSUMY</a>). The C&ocirc;t&eacute; Gold mine reached commercial production on Aug 2, 2024.
The mine&#39;s contribution to IAG&#39;s production was 20,000 ounces of gold in the second quarter. This took IAG&#39;s attributable total production to 166,000 ounces, a 55.1% year-over-year increase.
On May 24, IAG completed a bought deal equity financing of 72 million shares and raised gross proceeds of $300.24 million. Net proceeds will be utilized to repurchase a 9.7% interest in the C&ocirc;t&eacute; Gold mine from Sumitomo Metal Mining Co. Ltd., a subsidiary of Sumitomo, restoring its 70% interest in the C&ocirc;t&eacute; Gold Mine.
Upbeat Outlook: IAMGOLD expects the C&ocirc;t&eacute; Gold mine to produce 220,000-290,000 ounces of gold (on a 100% basis) in 2024.
Strong performances at the Essakane and Westwood mines&nbsp; also aided solid second-quarter results. The Essakane mine reported attributable production of 111,000 ounces in the second quarter of 2024, a 26.1% year-over-year increase mainly due to higher grades. Westwood&#39;s output was 35,000 ounces (up 84% year over year).
The company thus increased Essakane and Westwood&#39;s total production guidance to 495,000-540,000 ounces from the prior stated 430,000-490,000 ounces.
Uptick in Gold Prices: Gold prices have been on an upward trend in 2024 as traders see a potential for the Fed to begin lowering rates. Since the start of 2024, gold prices have risen 21.3% and remained consistently above the $2,000-per-ounce mark. Several factors have contributed to this upward trajectory, including increased geopolitical tensions, the potential for monetary policy easing and continuous purchasing by central banks. The yellow metal is currently at an all-time high at around $2,500 per ounce.
<h3>Other Stocks to Consider</h3>
Some other top-ranked stocks from the basic materials space are Carpenter Technology Corporation&nbsp;and Eldorado Gold Corporation. CRS and EGO sport a Zacks Rank #1 at present.
The Zacks Consensus Estimate for Carpenter Technology&#39;s fiscal 2025 earnings is pegged at $6.06 per share. The consensus estimate for 2025 earnings has moved 17% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 15.9%. CRS shares have gained 155.9% in a year.
The Zacks Consensus Estimate for Eldorado Gold&#39;s 2024 earnings is pegged at $1.32 per share. The consensus estimate for 2024 earnings has moved 22% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 430%. EGO shares have gained 103% in a year.
<a href="https://www.zacks.com/stock/news/2323881/iamgold-iag-hits-52-week-high-what-s-driving-the-stock?cid=CS-BENZ-FT-analyst_blog|52week_high/low-2323881">To read this article on Zacks.com click here.</a>

SSUMY

IAMGOLD Hits 52-Week High: What's Driving the Stock?

Scotiabank analyst Tanya Jakusconek maintains Iamgold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAG#NYSE">IAG</a>) with a Sector Perform and raises the price target from $4.75 to $5.5.

Price Target

Scotiabank Maintains Sector Perform on Iamgold, Raises Price Target to $5.5

CIBC analyst Anita Soni maintains Iamgold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAG#NYSE">IAG</a>) with a Neutral and raises the price target from $4.9 to $5.4.

CIBC Maintains Neutral on Iamgold, Raises Price Target to $5.4

Iamgold shares are trading higher after the company last week reported better-than-expected Q2 financial results.

In a report released today, Anita Soni from CIBC maintained a Hold rating on IAMGOLD (IAG – Research Report), with a price target of $5.40. The com...

CIBC Sticks to Its Hold Rating for IAMGOLD (IAG)

As we head into the final 90 minutes of the trading session, these are today's top stock gainers: Some notable catalysts for today's movers include...

Top Stock Gainers Today – IAG, MNDY, and More

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
The S&amp;P 500 index touched highs of 5,670 in July. Over the last one month, the index movement has been volatile with a downward bias. There is nervousness among investors as geopolitical tensions remain high and GDP growth has been sluggish. I believe that this volatility and correction can be used to accumulate several quality <a href="https://investorplace.com/stock-types/growth-stocks/">growth stocks</a>.



An important point to note is that the U.S. Federal Reserve is likely to pursue expansionary policies before the end of 2024. Further, multiple rate cuts might be on the cards next year. While the impact will be with a lag, expansionary policies will support GDP growth.



This will have an impact on earnings in the next 24 to 36 months. I therefore believe that fundamentally strong growth stocks are likely to deliver healthy returns within this time horizon. Let&rsquo;s therefore discuss the business factors that are likely to support value creation in these ideas.



<h2>Li Auto (LI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/05/liauto1600-300x169.png" alt="Li Auto (Li Xiang) brand logo and electric car in store. A Chinese EV(electric vehicle) company"><div>Source: Robert Way / Shutterstock.com</div></div>Li Auto (NASDAQ:<a href="https://investorplace.com/stock-quotes/li-stock-quote/">LI</a>) stock has witnessed a sharp correction of 48% year-to-date. This has been on the back of negative sentiments for the EV industry coupled with investors being bearish on Chinese stocks. I believe that LI stock is a steal at a forward P/E of 16.7.



The EV company has been delivering healthy growth and has strong fundamentals. Further, with focus on technology, Li Auto is among the EV companies that are positioned to survive and grow. As of Q1 2024, Li Auto <a href="https://ir.lixiang.com/news-releases/news-release-details/li-auto-inc-announces-unaudited-first-quarter-2024-financial">reported a cash buffer</a> of $13.7 billion. This provides ample flexibility to invest in innovation and aggressive expansion within China.



It&rsquo;s worth noting that even amidst intense competition, Li Auto reported a healthy vehicle margin of 19.3%. Even if the margin sustains at these levels, operating and free cash flows are likely to remain healthy.



Further, for Q2 2024, Li reported <a href="https://ir.lixiang.com/news-releases/news-release-details/li-auto-inc-june-2024-delivery-update">vehicle deliveries growth</a> of 25.5% on a year-on-year basis. I expect coming quarterly results to be good and will support a rally from oversold levels. With rate cuts on the cards, it&rsquo;s also likely that the EV industry will witness growth acceleration.



<h2>Miniso Group (MNSO)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/08/miniso-mnso-1600-300x169.jpg" alt="red Miniso (MNSO) sign glowing at night"><div>Source: shutterstock.com/Hendrick Wu</div></div>Let&rsquo;s talk about another Chinese growth stock that looks significantly undervalued. Miniso Group (NYSE:<a href="https://investorplace.com/stock-quotes/mnso-stock-quote/">MNSO</a>) is a lifestyle retailer with global presence. The company has been on a high-growth trajectory. However, MNSO stock has corrected by 22% year-to-date. At a forward P/E of 12.7, the stock is a buy and offers a healthy dividend yield of 2.6%.



I must mention that Miniso is also likely to be a beneficiary of expansionary policies that will encourage consumption spending. On the financial front, Miniso reported revenue growth of 26% for Q1 2024 to $515.7 million. For the same period, <a href="https://filecache.investorroom.com/mr5ir_miniso/315/MINISO%202024%20Mar%20Quarter%20ER.pdf">adjusted EBITDA margin swelled</a> by 200 basis points to 25.9%. Growth has been on the back of a dynamic product SKU coupled with aggressive store expansion in China and in international markets.



It&rsquo;s worth noting that Miniso has <a href="https://filecache.investorroom.com/mr5ir_miniso/306/MINISO%20December%20Quarter_v6-%E6%9B%B4%E6%96%B0%E6%8C%82%E7%BD%91.pdf">guided</a> for 900 to 1,100 new store openings on an annual basis between 2024 and 2028. For the same period, the company expects to deliver revenue growth at a CAGR of more than 20%. This will also imply continued upside in cash flows and healthy dividend growth.



<h2>Marathon Digital (MARA)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/01/mara1600-300x169.png" alt="In this photo illustration the Marathon Digital Holdings (MARA) logo seen displayed on a smartphone screen"><div>Source: rafapress / Shutterstock.com</div></div>Bitcoin (<a href="https://investorplace.com/cryptocurrency/btc-usd/">BTC-USD</a>) is back above $60,000 with the markets discounting aggressive rate cuts in the next 12 to 18 months. I expect the cryptocurrency to make new highs in the coming quarters and Bitcoin miners are likely to be beneficiaries.



Marathon Digital (NASDAQ:<a href="https://investorplace.com/stock-quotes/mara-stock-quote/">MARA</a>) looks undervalued considering the growth outlook. For Q2 2024, the company reported <a href="https://ir.mara.com/investors/news-events/press-releases/detail/1364/mara-reports-second-quarter-2024-results">stellar revenue growth</a> of 78% on a year-on-year basis to $145.1 million. This growth was backed by upside in Bitcoin coupled with aggressive capacity expansion.



As of Q2, Marathon reported energized hash rate of 31.5EH/s. On a year-on-year basis, hash rate increased by 78%. Further, Marathon expects to end the year with a capacity of 50EH/s. Therefore, there is visibility for sustained upside in revenue and cash flows.



From a fundamental perspective, Marathon reported a liquidity buffer of $1.4 billion as of Q2 2024. This provides flexibility for aggressive investments next year. I am therefore bullish on MARA stock that has remained sideways in the last 12 months.



<h2>IAMGOLD (IAG)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/09/costco-gold-bars1600-300x169.png" alt="Gold bars and Financial concept, studio shots. Costco's gold bars, cost stock"><div>Source: Misunseo / Shutterstock.com</div></div>The sentiment for gold remains bullish with the precious metal trading at $2,460 an ounce. With rate cuts coming, Citi believes that <a href="https://www.cnbc.com/2024/04/16/gold-is-shining-bright-like-a-diamond-and-could-hit-3000-says-citi-.html">gold can potentially trade</a> at $3,000 an ounce in the next 6 to 18 months. I would therefore look at exposure to quality gold miners and IAMGOLD (NYSE:<a href="https://investorplace.com/stock-quotes/iag-stock-quote/">IAG</a>) is attractive among growth stocks.



It&rsquo;s worth noting that IAG stock has surged by 110% in the last 12 months. However, valuations remain attractive at a forward P/E of 11. With the company positioned for healthy revenue and cash flow upside, the best part of the rally is due.



There are two reasons that back my view on growth acceleration. First, higher realized gold price will support revenue and cash flow upside. Further, IAMGOLD <a href="https://s202.q4cdn.com/468687163/files/doc_presentations/2024/08/IAG_Q22024_Conference_Call_v1-0.pdf">commenced production</a> at the C&ocirc;t&eacute; Gold assets with ramp-up due in the coming quarters.



For Q2 2024, the gold miner <a href="https://www.iamgold.com/English/investors/news-releases/news-releases-details/2024/IAMGOLD-Reports-Second-Quarter-2024-Results/default.aspx">beat</a> top-line and bottom-line estimates. The company also lowered its cost guidance. I therefore expect healthy growth to be associated with significant EBITDA margin expansion.



<h2>Tempus AI (TEM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/02/magnificent-7-mnm-ai1600-300x169.png" alt="Businessperson Shaking Hand With Digital Partner Over Futuristic Background, MnM stocks replacing the Magnificent 7."><div>Source: Andrey_Popov / Shutterstock.com</div></div>Tempus AI (NASDAQ:<a href="https://investorplace.com/stock-quotes/tem-stock-quote/">TEM</a>) is a relatively new listing in the field of healthcare technology. The stock is still under-the-radar and it&rsquo;s a good time to accumulate for the long term. Besides healthy growth in the genomics business, Tempus has one of the world&rsquo;s largest libraries of clinical and molecular data. This makes the data and services segment attractive.



For Q2 2024, Tempus reported <a href="https://investors.tempus.com/news-releases/news-release-details/tempus-reports-second-quarter-2024-results">revenue growth</a> of 25% on a year-on-year basis to $166 million. It&rsquo;s worth noting that data licensing revenue increased by 40%. At the same time, investment in research and development has support growth in the genomics business.



The company recently expanded its immune-oncology portfolio with the <a href="https://investors.tempus.com/news-releases/news-release-details/tempus-expands-immuno-oncology-portfolio-launch-ai-enabled">launch</a> of AI-enabled immune profile score algorithmic test. Further, Tempus <a href="https://investors.tempus.com/news-releases/news-release-details/cms-awards-tempus-advanced-diagnostic-laboratory-test-adlt">received approval</a> from the Centers for Medicare &amp; Medicaid Services for its next-generation sequencing analysis.



With increased focus on AI and technology in the field of healthcare, I believe that Tempus AI is still at an early growth stage. Fresh exposure can therefore be considered on corrections.



<h2>PACS Group (PACS)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/08/healthcare1600b-300x169.jpg" alt="a doctor looks at a tablet. Healthcare stocks to avoid"><div>Source: Shutterstock</div></div>Let&rsquo;s talk about another healthcare stock that&rsquo;s a potential multibagger. PACS Group (NYSE:<a href="https://investorplace.com/stock-quotes/pacs-stock-quote/">PACS</a>) is a provider of skilled nursing and assisted living facilities in the U.S. The recently listed company is on a high-growth trajectory and looks undervalued at a forward P/E of 24.7.



For the first half of 2024, PACS Group <a href="https://ir.pacs.com/news-events/press-releases/detail/105/pacs-group-inc-reports-second-quarter-2024-results">reported revenue growth</a> of 31% on a year-on-year basis to $1.9 billion. The company has also increased the revenue and adjusted EBITDA guidance for the year. It&rsquo;s worth noting that for Q2, PACS added 167 skilled nursing beds.



With aggressive addition of facilities, it&rsquo;s likely that revenue growth will remain robust. With the company&rsquo;s skilled nursing facility having a lower cost advantage, capacity utilization is likely to remain healthy. Another point to note is that the company&rsquo;s mature facilities have an <a href="https://d1io3yog0oux5.cloudfront.net/_a040d245fe61b68ee2e9916c10d6e524/pacs/db/937/8250/presentation/PACS+Group+2024+Q2+Investor+Presentation.pdf">occupancy rate</a> of 94.2%. As more facilities mature, revenue growth will be supported coupled with EBITDA margin expansion.



<h2>Cronos (CRON)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/aurora-cannabis-stock-5-300x169.jpg" alt="aurora stock. hot cannabis stocks"><div>Source: Shutterstock</div></div>I believe that some of the best <a href="https://investorplace.com/industries/healthcare/cannabis/">cannabis stocks</a> are poised for a breakout rally. The reasons include improving fundamentals and a relatively friendly regulatory environment. Cronos (NASDAQ:<a href="https://investorplace.com/stock-quotes/cron-stock-quote/">CRON</a>) is my top pick from cannabis stocks and looks massively undervalued.



The first point to note is that Cronos reported a robust cash buffer of $848 million as of Q2 2024. This provides the company with ample flexibility for organic and acquisition driven growth.



The second important point is growth acceleration. For Q2 2024, Cronos <a href="https://ir.thecronosgroup.com/news-releases/news-release-details/cronos-group-reports-2024-second-quarter-results">reported revenue growth</a> of 46% on a year-on-year basis to $27.8 million. It&rsquo;s worth noting that new markets of Germany, Australia and the U.K. are likely to support growth in the coming quarters.



Another positive is that the company&rsquo;s adjusted EBITDA loss has been narrowing. With operating leverage, it&rsquo;s likely that Cronos will achieve EBITDA break-even in 2025. With multiple positives, I believe that CRON stock is likely to skyrocket from current levels.



On the&nbsp;date of publication, Faisal Humayun did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.



On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
<div>Faisal Humayun is a senior research analyst with 12 years of industry experience in the field of credit research, equity research and financial modeling. Faisal has authored over 1,500 stock specific articles with focus on the technology, energy and commodities sector.</div><h3>More From InvestorPlace</h3>
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