AU, NG and AREC are among materials movers
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 22 2024
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Source: SeekingAlpha
- Gainers: Critical Metals (CRML) +42%, Captivision (CAPT) +24%, Graphjet Technology (GTI) +18%, Lifezone Metals (LZM) +14%, Ingevity (NGVT) +9%
- Losers: Austin Gold (AUST) -11%, Novagold Resources (NG) -9%, Ivanhoe Electric (IE) -9%, AngloGold Ashanti (AU) -9%, American Resources Corporation (AREC) -7%
- More on Materials Sector: XLB Surges To The Sector-Performance Lead, Albemarle remains the most heavily shorted materials stock in March, Steel Dynamics, Dow among top materials picks ahead of Q1 earnings; Albemarle gets a Sell, Seeking Alpha’s Quant Rating on Materials Select Sector SPDR ETF, Dividend scorecard for Materials Select Sector SPDR ETF
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Analyst Views on NGVT
Wall Street analysts forecast NGVT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for NGVT is 67.00 USD with a low forecast of 60.00 USD and a high forecast of 71.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
2 Buy
1 Hold
0 Sell
Moderate Buy
Current: 65.920
Low
60.00
Averages
67.00
High
71.00
Current: 65.920
Low
60.00
Averages
67.00
High
71.00
About NGVT
Ingevity Corporation develops, manufactures and brings to market solutions that help customers solve complex problems and make the world more sustainable. The Company operates in three reporting segments: Performance Materials, Advanced Polymer Technologies, and Performance Chemicals. The Performance Materials segment manufactures products in the form of powder, granular, extruded pellets, extruded honeycombs, and activated carbon sheets. Advanced Polymer Technologies segment produces caprolactone and caprolactone-based specialty polymers for use in coatings, resins, elastomers, adhesives, bioplastics, and medical devices. Performance Chemicals includes specialty chemicals and pavement technologies. The Company’s products are used in a variety of demanding applications, including adhesives, agrochemicals, asphalt paving, certified biodegradable bioplastics, coatings, elastomers, pavement markings and automotive components.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Ingevity Completes $110 Million Sale of North Charleston CTO Refinery Assets
- Asset Sale Completion: Ingevity has finalized the sale of its North Charleston Crude Tall Oil refinery assets and the majority of its Performance Chemicals Industrial Specialties product line for $110 million, with an additional potential contingent consideration of up to $19 million, aimed at simplifying its business structure and focusing on high-margin specialty applications.
- Strategic Restructuring: This transaction marks a significant step in Ingevity's strategic plan outlined during its December 8 investor event, as the company exits its remaining CTO product lines to concentrate on higher-margin businesses like activated carbon and pavement technologies, thereby enhancing overall operational efficiency.
- Business Focus: By retaining its Pavement Technologies business and other lignin-based dispersant products, Ingevity ensures it can continue to offer a diverse product range while strengthening its competitive position in the specialty materials market, aligning with its long-term strategic objectives.
- Market Outlook: This transaction not only enhances the company's financial flexibility but also provides funding for future investments and innovations, further solidifying Ingevity's leadership in the sustainable materials sector.
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CHASM and Ingevity Strengthen Partnership with Licensing Agreement to Ensure Local CNT Supply Chain for EV Battery Gigafactories in North America and Europe
CHASM and Ingevity Partnership: CHASM Advanced Materials has signed a license agreement with Ingevity Corporation for the production of carbon nanotube (CNT) additives for batteries, enhancing their collaboration to support the EV battery industry in North America and Europe.
Technology Validation: CHASM's NTeC®-E CNT additives have been validated by Ingevity's labs and third-party testing, proving to be more conductive and offering better capacity retention compared to other commercial CNT products.
Supply Chain Security: The partnership aims to establish a reliable, domestically sourced CNT supply chain for the growing electric vehicle battery market, reducing reliance on overseas suppliers.
Innovative Applications: CHASM's CNT technology is designed for integration into various battery chemistries and other applications, contributing to advancements in safety, connectivity, and sustainability in multiple industries.
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