GSM

Funding Announcement: Coreshell has secured $24 million in strategic funding to scale production of its 60 Ah battery cells made from domestically-sourced metallurgical silicon, with plans to deliver commercial samples to global automakers by 2025.

Technological Advancements: The company’s innovative battery technology promises a 30-40% increase in energy density compared to traditional graphite-based batteries, while also reducing costs and enhancing supply chain resilience.

Ferroglobe Analyst Rating: Ferroglobe received a Hold rating and a price target from Seaport Global analyst Martin Englert, with shares closing at $3.43 and an analyst consensus of Hold.

Market Overview: The company's market cap is $646.3M, with a P/E ratio of 123.30, indicating mixed financial performance and challenges ahead.

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Earnings Announcement: Ferroglobe PLC will release its third quarter financial results on November 6, 2024, and host a quarterly earnings call on November 7, 2024, at 8:30 a.m. Eastern Time.

Company Overview: Ferroglobe is a major global producer of silicon metal and ferroalloys, catering to various industries including solar, automotive, and construction, with its headquarters in London.

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Ferroglobe Q2 2024 Earnings Report: Ferroglobe reported earnings per share of 13 cents, exceeding the analyst estimate of 5 cents, and generated revenue of $451.05 million, surpassing the expected $435.40 million by 3.59%.

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Financial Performance: Ferroglobe PLC reported a solid second quarter of 2024 with adjusted EBITDA of $58 million, a 124% increase from the previous quarter, and net income of $34.9 million, marking a significant recovery from a loss in Q1. The company also narrowed its annual adjusted EBITDA guidance to $150-170 million.

Operational Developments: The company successfully restarted its French operations, contributing to increased sales volumes in silicon metal and manganese-based alloys. Additionally, Ferroglobe's actions led to preliminary duties on Russian FeSi imports, which are expected to benefit their U.S. ferrosilicon business starting in early 2025.

Earnings Performance: Globe Specialty Metals reported quarterly earnings of $0.13 per share, exceeding expectations and showing a significant earnings surprise, despite a year-over-year decline from $0.30 per share. The company also surpassed revenue estimates with $451.05 million for the quarter.

Market Outlook: Despite recent positive earnings surprises, the company's stock is currently rated as a Zacks Rank #4 (Sell) due to unfavorable earnings estimate revisions, indicating expected underperformance compared to the market in the near future.

U.S. Antimony Q1 Results:

• Revenues increased by 28% to $2.83 million, with a 108% rise in gross profit due to lower sales costs.
• Operating expenses surged by 183%, leading to a net income of $86k for the quarter.
• The company ceased Mexico operations, reduced overhead, and shifted to a "Discontinued Operation" status.
• Cash position improved to $11.94 million, marking a turning point according to the chairman.

Piedmont Lithium's NAL Update:

• New high-grade lithium zones discovered at North American Lithium (NAL) in Quebec.
• Potential mineral resource upgrade and mine life extension indicated by the 2023 drill program.
• NAL restarted production in March 2023, consistently achieving record production volumes.
• CEO highlighted strategic importance and exciting possibilities for extended mine life and increased production.

Ferroglobe Q1 Financials:

• Reported an adjusted EBITDA of $25.8 million with a positive net cash position for the first time.
• Gross debt hit an all-time low of $81 million.
• Initiated quarterly cash dividends and approved a $200 million stock buyback program.
• French operations fully restarted, with plans to expand U.S. silicon metal production.

Solitario Resources' Gold Discoveries:

• Discovered three new high-grade gold zones at the Golden Crest project.
• Reconnaissance sampling showed gold values up to 57.9 grams per ton.
• Zones cover a four-square-kilometer area, with significant samples exceeding one gpt gold.
• CEO anticipates upcoming drilling program starting in June.

U.S. Antimony Q1 Results:

• Revenues increased by 28% to $2.83 million.
• Gross profit rose by 108% due to lower sales costs.
• Operating expenses surged by 183%, with a net income of $86k.
• Ceased Mexico operations, reduced overhead, and shifted to "Discontinued Operation."
• Cash position improved to $11.94 million, with positive remarks from the chairman.

Piedmont Lithium Discoveries:

• New high-grade lithium zones found at North American Lithium (NAL) in Quebec.
• Potential mineral resource upgrade and mine life extension suggested for 2023.
• NAL restarted production in March 2023, setting record volumes.
• CEO highlighted strategic importance and potential for extended mine life.

Ferroglobe Q1 Financials:

• Reported adjusted EBITDA of $25.8 million and achieved a positive net cash position.
• Gross debt hit an all-time low of $81 million.
• Approved a $200 million stock buyback program over five years.
• French operations fully restarted, applying for U.S. silicon metal production expansion.

Solitario Resources Gold Discoveries:

• Discovered three new high-grade gold zones at Golden Crest project.
• Reconnaissance sampling showed gold values up to 57.9 grams per ton.
• Zones span a four-square-kilometer area with promising initial samples.
• CEO anticipates upcoming drilling program starting in June.

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Ferroglobe PLC First Quarter 2024 Results:

• Reported break-even adjusted earnings, beating estimates.
• Revenues fell by 2.2% year over year to $392 million.
• Operating profit dropped by 94.4%, and adjusted EBITDA decreased.
• Ended the quarter with a total cash balance of around $160 million.
• Expects 2024 adjusted EBITDA to be $130-$170 million.

Stock Performance of GSM and Other Companies:

• GSM shares gained 25.8% over the past year.
• Reliance, Inc. (RS) posted lower adjusted earnings.
• Teck Resources (TECK) reported a significant drop in earnings.
• Piedmont Lithium Inc. (PLL) had a wider quarterly loss than expected.

Earnings Reports After Hours on 05/14/2024:

• Companies like Nextracker Inc., Seadrill Limited, Prestige Consumer Healthcare Inc., and others are expected to report earnings.
• Earnings per share forecasts and comparisons to previous quarters are provided for each company.
• Zacks Investment Research data on Price to Earnings ratios and industry comparisons are included.

Market Analysis:

• The article discusses the performance expectations and historical beats for companies like Boot Barn Holdings, DLocal Limited, and others.
• It highlights changes in earnings forecasts compared to the same quarter last year.

Specific Company Insights:

• Details on companies like Belite Bio, SilverCrest Metals Inc., Capital Southwest Corporation, and more are provided.
• Consensus earnings per share forecasts, percentage changes, and past performance against analyst expectations are outlined.

Industry Comparisons:

• Zacks Investment Research's Price to Earnings ratio comparisons with industry averages are mentioned for various companies.
• The focus is on potential earnings growth relative to competitors within the same industry.

Rumble Inc. Analysis:

• Specific details about Rumble Inc.'s forecasted earnings per share, significant decrease compared to the previous year, and "days to cover" metric exceeding 11 days are discussed.
• The increase in "days to cover" from the previous short interest update is highlighted.

Cleveland-Cliffs Earnings Report:

• Reported quarterly earnings of $0.18 per share, missing estimates by $0.01.
• Showed an earnings surprise of -5.26% and surpassed EPS estimates twice in the last four quarters.
• Posted revenues of $5.2 billion, slightly below expectations.
• Stock performance has been moderate, gaining 1.9% this year.
• Future stock movement depends on management's commentary and earnings outlook.

Investor Outlook for Cleveland-Cliffs:

• Company's earnings estimate revisions trend is currently mixed.
• Zacks Rank #3 (Hold) suggests expected market performance.
• Consensus EPS estimates for upcoming quarter and fiscal year are $0.50 and $1.66 respectively.
• Industry outlook can impact stock performance; Mining - Miscellaneous industry ranks in the top 40%.
• Globe Specialty Metals (GSM) in the same industry is expected to report results soon.

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