Aug 12 (Reuters) – The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.

Headlines

– BHP urged to run down not sell its fossil fuel assets https://on.ft.com/3AuLENC

– UK government urged to aid universities struggling with record student numbers https://on.ft.com/3lWfx5q

– Johnson poised to backtrack on mid-2030s gas boiler ban https://on.ft.com/3jOCXY0

– Germany arrests Briton on suspicion of spying for Russia https://on.ft.com/2Xp7Pa5

Overview

– BHP Group Plc has been urged to run down rather than divest its fossil assets by shareholder activist group Market Forces, to meet the goals of the Paris climate agreement.

– Education leaders have called on the UK government for more support to universities, as higher education institutions are struggling to accommodate a larger number of students following a surge in top A-level marks.

– Prime Minister Boris Johnson is set to cut down plans to ban the sale of new gas boilers in the UK from mid-2030, over concerns from ministers and Conservative Party lawmakers about the cost to consumers of transitioning to net zero emissions.

– German prosecutors on Wednesday said that they have arrested a British man working at the UK embassy in Berlin on suspicion of passing documents to the Russian intelligence service.

(Compiled by Bengaluru newsroom)

VANCOUVER, BC, Aug. 12, 2021 /CNW/ – The following issues have been halted by IIROC:

Company: Graphene Manufacturing Group Ltd.

TSX-Venture Symbol: GMG

All Issues: Yes

Reason: At the Request of the Company Pending News

Halt Time (ET): 8:09 AM

IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) – Halts/Resumptions

View original content: http://www.newswire.ca/en/releases/archive/August2021/12/c7535.html

VANCOUVER, BC, Aug. 11, 2021 /CNW/ – Trading resumes in:

Company: Sego Resources Inc.

TSX-Venture Symbol: SGZ

All Issues: Yes

Resumption (ET): 12:15 PM

IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) – Halts/Resumptions
“Cision”
Cision

View original content: http://www.newswire.ca/en/releases/archive/August2021/11/c2876.html

When a single insider purchases stock, it is typically not a major deal. However, when multiple insiders purchase stock, like in BHP Group's (ASX:BHP) instance, it's good news for shareholders.

Although we don't think shareholders should simply follow insider transactions, we would consider it foolish to ignore insider transactions altogether.

Check out our latest analysis for BHP Group

BHP Group Insider Transactions Over The Last Year

The Independent Non-Executive Director Xiaoqun Clever made the biggest insider purchase in the last 12 months. That single transaction was for AU$68k worth of shares at a price of AU$34.05 each. Even though the purchase was made at a significantly lower price than the recent price (AU$52.52), we still think insider buying is a positive. Because the shares were purchased at a lower price, this particular buy doesn't tell us much about how insiders feel about the current share price.

Happily, we note that in the last year insiders paid AU$70k for 2.04k shares. But insiders sold 16.00 shares worth AU$820. Overall, BHP Group insiders were net buyers during the last year. The chart below shows insider transactions (by companies and individuals) over the last year. If you want to know exactly who sold, for how much, and when, simply click on the graph below!

BHP Group is not the only stock that insiders are buying. For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.

Have BHP Group Insiders Traded Recently?

There was only a small bit of insider buying, worth AU$2.1k, in the last three months. Overall, we don't think these recent trades are particularly informative, one way or the other.

Does BHP Group Boast High Insider Ownership?

Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. I reckon it's a good sign if insiders own a significant number of shares in the company. Insiders own 0.03% of BHP Group shares, worth about AU$77m. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.

So What Does This Data Suggest About BHP Group Insiders?

Insider purchases may have been minimal, in the last three months, but there was no selling at all. That said, the purchases were not large. On a brighter note, the transactions over the last year are encouraging. Overall we don't see anything to make us think BHP Group insiders are doubting the company, and they do own shares. While we like knowing what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. At Simply Wall St, we've found that BHP Group has 2 warning signs (1 doesn't sit too well with us!) that deserve your attention before going any further with your analysis.

Of course BHP Group may not be the best stock to buy. So you may wish to see this free collection of high quality companies.

For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. 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.

(Bloomberg) — BHP Group, the world’s top miner, should abandon plans for multi-billion dollar sales of fossil fuels assets and instead responsibly close down the operations, according to an environmental campaign group.

A proposal tabled on behalf of about 100 small investors by Market Forces, which coordinates groups of shareholders on climate issues, calls on the company to wind down production in line with international targets to cut greenhouse gas emissions, and to focus on helping communities to find alternative jobs.

“By providing a leading example of responsibly managing down fossil fuel assets, BHP can preserve and realize the genuine value that exists in these assets, align with global climate goals, and support its workers in the transition to a decarbonized economy,” the group said in a statement. Market Forces and the BHP investors have tabled resolutions to be considered at the company’s annual meeting in Australia later this year.

BHP’s board will set out a response ahead of the meeting, the company said in a statement Wednesday. The investors hold less than 0.01% of BHP’s Australia-listed entity and about 0.006% of the combined group, which includes the miner’s London-traded shares, according to the statement.

BHP is considering an exit from the oil and gas sector and reviewing options including a trade sale, people familiar with the matter said last month. The producer in June agreed to sell its one-third share in a Colombian coal mine and is also progressing plans to offload a thermal coal operation and some metallurgical coal assets in Australia.

Activists who previously had urged the biggest miners and oil majors to rid their portfolios of fossil fuels operations are increasingly changing approach, in recognition that assets are often sold to smaller producers or government-backed firms that operate with far less transparency and typically seek to boost volumes.

While shareholder resolutions seldom win large support, they’re among tools being used by small campaign groups to pressure companies. Lawsuits have been effective too, with Royal Dutch Shell Plc ordered to slash emissions faster than planned in a recent ruling and Australia’s government instructed to consider climate change in mine approvals.

“There’s an increasingly deep and sophisticated understanding of the steps big companies and their investors need to take to play their part in bringing down emissions,” said Will van de Pol, a campaigner at Australia-based Market Forces. “Companies and investors can no longer get away with green-washing and shirking their responsibilities.”

Read more: BP Cleans Image With Oil Asset Sales While Emissions Stay Behind

BP Plc is among firms that have faced criticism for pursuing divestment deals that will help the company meet its own net-zero goals, though likely won’t result in lower emissions from the assets that have been sold.

“While divestment addresses stranded asset risk exposure, it fails to manage the reputational risk associated with avoiding responsibility for employee transition support and site rehabilitation,” Market Forces said in its statement.

More stories like this are available on bloomberg.com

Subscribe now to stay ahead with the most trusted business news source.

©2021 Bloomberg L.P.

VANCOUVER, British Columbia, Aug. 11, 2021 (GLOBE NEWSWIRE) — Aben Resources Ltd. (TSX-V: ABN) (OTCQB: ABNAF) (Frankfurt: E2L2) (“Aben” or “the Company”) is pleased to announce that it has initiated a reconnaissance and field work program at its 100% owned Forrest Kerr Project in BC’s Golden Triangle. The 2021 program will consist of additional mapping and sampling in specifically identified areas of the property that have had limited coverage to date and in areas of interest as the property’s extensive data base dictates. This program is designed to generate additional drill targets and to further the understanding of the geologic processes that have taken place and are the cause of the gold emplacement in the North and South Boundary Valley of the Forrest Kerr Property.

The areas of interest this year will be to the North and South of the Boundary zones. Minimal exploration has been conducted in the 3.5km-long Boundary-Marcasite corridor to the north of the North Boundary High-grade Zone despite the presence of high-grade precious metal values on surface. And to the south, very limited surface work has been conducted south of the South Boundary mineralized corridor, although discovery potential is high as this area overlies the regional-scale Forrest Kerr Fault Zone and other associated structures.

Flow-Through Financing

Further, the Company has closed a non-brokered private placement financing for total gross proceeds of CAD $175,000 (the “Placement”).

The Company has allotted and issued 2,500,000 flow-through units (the “FT Units”) at a price of CAD $0.07 per FT Unit. Each FT Unit is comprised of one flow-through common share and one-half of one transferable warrant. Each whole warrant will entitle the holder to purchase one non-flow through common share for a period of two (2) years at a price of CAD $0.10 per share.

The Company intends to use the proceeds from the Placement towards exploration on its Forrest Kerr Gold Project, British Columbia. All securities issued under the Placement will be subject to a four-month and one-day hold period expiring December 12, 2021. The Placement remains subject to the final approval of the TSX Venture Exchange.

About Aben Resources:

Aben Resources is a Canadian gold exploration company developing gold-focused projects in British Columbia and the Yukon Territory. Aben is a well-funded junior exploration company.

Forrest Kerr Gold Project, Golden Triangle, BC claims map:
https://abenresources.com/site/assets/files/4087/abn_forrest_kerr_project_map.pdf

For further information on Aben Resources Ltd. (TSX-V: ABN), visit our Company’s web site at www.abenresources.com.

ABEN RESOURCES LTD.

“Jim Pettit”
______________________
JAMES G. PETTIT
President & CEO

For further information contact:
Aben Resources Ltd.
Telephone: 604-416-2978
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@abenresources.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 release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management 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 in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.

(Bloomberg) — BHP Group and union leaders at the Escondida complex in Chile are getting closer to a wage deal that would avert a strike at the world’s biggest copper mine.

Negotiators asked labor authorities for a one-day extension in a mediation process to continue working toward an agreement that could be put to workers Tuesday. According to the union, the breakthrough came after BHP acceded to some demands. On Friday, the Melbourne-based company warned that it wouldn’t improve the offer during a strike.

“During the course of the night, conversations between the parties will continue to close an agreement that will then be presented by Union No. 1 to its members,” BHP said in a statement late Monday.

Avoiding a stoppage at a mine that accounts for about 5% of global copper production would ease tensions over tightening supplies at a time when trillions of dollars in government stimulus fuel demand for industrial metals. In 2017, the same union staged a 44-day stoppage.

A deal at Escondida would also ease labor tensions in Chile after workers at a mine owned by JX Nippon Mining & Metals opted to walk off the job Tuesday when their talks with management collapsed.

At a third copper mine in Chile, Codelco’s Andina, the two sides agreed to extend talks to allow workers to vote on a new proposal, the result of which will be known Wednesday.

Surging producer profits are emboldening mine workers, with host nations also looking at ratcheting up taxes to help resolve inequalities exacerbated by the pandemic. At the same time, companies are striving to keep labor costs in check in a cyclical business and as ore quality deteriorates and input prices start to rise.

(Adds chart)

More stories like this are available on bloomberg.com

Subscribe now to stay ahead with the most trusted business news source.

©2021 Bloomberg L.P.

Here are four stocks with buy ranks and strong growth characteristics for investors to consider today, August 10th:

Carter's, Inc. CRI: This designer and marketer of branded childrenswear carries a Zacks Rank #1 (Strong Buy), has witnessed the Zacks Consensus Estimate for its current year earnings increasing 21.1% over the last 60 days.

Carters, Inc. Price and Consensus

Carters, Inc. price-consensus-chart | Carters, Inc. Quote

Carter's has a PEG ratio of 0.65 compared with 1.52 for the industry. The company possesses a Growth Score of B.

Carters, Inc. PEG Ratio (TTM)

Carters, Inc. peg-ratio-ttm | Carters, Inc. Quote

Dow Inc. DOW: This provider of various materials science solutions for consumer care, infrastructure, and packaging markets carries a Zacks Rank #1, has witnessed the Zacks Consensus Estimate for its current year earnings increasing 24.6% over the last 60 days.

Dow Inc. Price and Consensus

Dow Inc. price-consensus-chart | Dow Inc. Quote

Dow has a PEG ratio of 0.27, compared with 0.63 for the industry. The company possesses a Growth Score of B.

Dow Inc. PEG Ratio (TTM)

Dow Inc. peg-ratio-ttm | Dow Inc. Quote

ManpowerGroup Inc. MAN: This provider of workforce solutions and services carries a Zacks Rank #1, has witnessed the Zacks Consensus Estimate for its current year earnings increasing 11.2% over the last 60 days.

ManpowerGroup Inc. Price and Consensus

ManpowerGroup Inc. price-consensus-chart | ManpowerGroup Inc. Quote

ManpowerGroup has a PEG ratio of 0.73, compared with 1.01 for the industry. The company possesses a Growth Score of A.

ManpowerGroup Inc. PEG Ratio (TTM)

ManpowerGroup Inc. peg-ratio-ttm | ManpowerGroup Inc. Quote

Albertsons Companies, Inc. ACI: This company that engages in the operation of food and drug stores carries a Zacks Rank #1, has witnessed the Zacks Consensus Estimate for its current year earnings increasing 14.1% over the last 60 days.

Albertsons Companies, Inc. Price and Consensus

Albertsons Companies, Inc. price-consensus-chart | Albertsons Companies, Inc. Quote

Albertsons Companies has a PEG ratio of 0.91, compared with 1.40 for the industry. The company possesses a Growth Score of A.

Albertsons Companies, Inc. PEG Ratio (TTM)

Albertsons Companies, Inc. peg-ratio-ttm | Albertsons Companies, Inc. Quote

See the full list of top ranked stocks here.

Learn more about the Growth score and how it is calculated here.

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

ManpowerGroup Inc. (MAN) : Free Stock Analysis Report

Dow Inc. (DOW) : Free Stock Analysis Report

Albertsons Companies, Inc. (ACI) : Free Stock Analysis Report

Carters, Inc. (CRI) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

Bob Dimond, Executive Vice President and CFO, to Retire After 33 Years in the Industry

BOISE, Idaho, August 10, 2021–(BUSINESS WIRE)–Albertsons Companies (NYSE: ACI) today announced that Sharon McCollam will join the Company on September 7, 2021, as its President and Chief Financial Officer reporting to Vivek Sankaran, Albertsons Cos. Chief Executive Officer. McCollam will succeed Bob Dimond, who will be retiring and will remain with the Company as an advisor through February 2022 to ensure a seamless transition.

McCollam, 59, retired from Best Buy in 2016 where she served as Executive Vice President, Chief Administrative and Chief Financial Officer. She is broadly recognized as the co-pilot of Best Buy’s Renew Blue transformation, which has been regarded as one of the foremost omni-channel transformations in the retail sector. Prior to Best Buy, McCollam held several transformational leadership positions at Williams-Sonoma, Inc. from 2000 to 2012, including Chief Operating and Chief Financial Officer from 2006 to 2012. Since retiring from Best Buy, McCollam has served as a member of several corporate boards, including companies with a strong consumer, e-commerce, and healthcare presence.

As President and Chief Financial Officer of Albertsons Cos., McCollam will assume several leadership responsibilities, including finance, corporate strategy, information technology, supply chain operations, and property development, and will be involved in all aspects of the Company’s growth and transformation strategy. In addition to her proven financial leadership, McCollam brings broad retail and omni-channel operational expertise that will help accelerate the achievement of the Company’s goals.

"I am thrilled to have Sharon join the Albertsons team," said Vivek Sankaran, Chief Executive Officer. "We are entering the next phase of our transformation, centered on building deeper relationships with customers through data, technology, and connected omni-channel solutions. Sharon has done just this throughout her career, helping to engineer multiple retail transformations, including the spectacular turnaround of Best Buy and the digital transformation at Williams-Sonoma. Sharon is well-known for her expertise in retail operations and digital growth strategies as well as her passion for building customer-centric cultures. I look forward to working closely with her to architect the evolution of our strategy and create value for all of our stakeholders."

Sankaran added, "I would like to thank Bob Dimond for his contributions to Albertsons Cos. over the past seven years. He has established a strong foundation for our finance team and was extremely instrumental in our IPO. Bob helped us deliver consistent financial results, improve our balance sheet, and elevate the level of investment in our business. We wish him the very best in his retirement."

McCollam commented, "I am thrilled to be joining Vivek and the Albertsons leadership team during this exciting time in the Company’s history. Albertsons Cos. is a family of iconic brands that empowers and values its people, obsesses over exceeding the expectations of its customers, communities and associates, and operates at the highest levels of humility and integrity in everything it does. It is thriving because its culture is built on values that its people and communities cherish and want to protect. It is a privilege to be joining this incredibly high-performing team and to be stepping back into such an exceptional opportunity that will allow me to leverage my broad multi-brand, multi-channel, and transformation experience as well as participate in one of the most exciting customer-centric digital transformations in integrated grocery and pharmacy today. I could not be more excited to take on this challenge and create the kind of change that will inspire our associates, our customers, and our shareholders."

About Albertsons Companies

Albertsons Companies is a leading food and drug retailer in the United States. As of June 19, 2021, the Company operated 2,278 retail food and drug stores with 1,725 pharmacies, 399 associated fuel centers, 22 dedicated distribution centers and 20 manufacturing facilities. The Company operates stores across 34 states and the District of Columbia under more than 20 well-known banners including Albertsons, Safeway, Vons, Jewel-Osco, Shaws, Acme, Tom Thumb, Randalls, United Supermarkets, Pavilions, Star Market, Haggen, Carrs, Kings Food Markets and Balducci’s Food Lovers Market. The Company is committed to helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood. In 2020, along with the Albertsons Companies Foundation, the Company gave $260 million in food and financial support, including approximately $95 million through our Nourishing Neighbors Program to ensure those living in our communities have enough to eat. Albertsons Companies also pledged $5 million to organizations supporting social justice. These efforts have helped millions of people in the areas of hunger relief, education, cancer research and treatment, social justice and programs for people with disabilities and veterans outreach.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210810005341/en/

Contacts

INVESTOR RELATIONS CONTACT:
Melissa Plaisance
Melissa.Plaisance@albertsons.com

MEDIA CONTACT:
Kirby Nardo
Kirby.nardo@albertsons.com

Here are five stocks added to the Zacks Rank #1 (Strong Buy) List today:

Albertsons Companies, Inc. ACI: This distributer of fruits, vegetables, canned items and other related goods through food and drug stores in the United States has seen the Zacks Consensus Estimate for its current year earnings increasing 14.1% over the last 60 days.

Albertsons Companies, Inc. Price and Consensus

Albertsons Companies, Inc. price-consensus-chart | Albertsons Companies, Inc. Quote

BellRing Brands, Inc. BRBR: This manufacturer and seller of nutrition products has seen the Zacks Consensus Estimate for its current year earnings increasing 4.7% over the last 60 days.

BellRing Brands, Inc. Price and Consensus

BellRing Brands, Inc. price-consensus-chart | BellRing Brands, Inc. Quote

Carter's, Inc. CRI: This provider of apparel and related products exclusively for babies and young children has seen the Zacks Consensus Estimate for its current year earnings increasing 21.1% over the last 60 days.

Carters, Inc. Price and Consensus

Carters, Inc. price-consensus-chart | Carters, Inc. Quote

Delta Apparel, Inc. DLA: This designer, manufacturer, and marketer of activewear and lifestyle apparel products has seen the Zacks Consensus Estimate for its current year earnings increasing 16.6% over the last 60 days.

Delta Apparel, Inc. Price and Consensus

Delta Apparel, Inc. price-consensus-chart | Delta Apparel, Inc. Quote

WESCO International, Inc. WCC: This provider of electrical products and other industrial MRO supplies and services in North America has seen the Zacks Consensus Estimate for its current year earnings increasing 10% over the last 60 days.

WESCO International, Inc. Price and Consensus

WESCO International, Inc. price-consensus-chart | WESCO International, Inc. Quote

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

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

WESCO International, Inc. (WCC) : Free Stock Analysis Report

Albertsons Companies, Inc. (ACI) : Free Stock Analysis Report

Carters, Inc. (CRI) : Free Stock Analysis Report

Delta Apparel, Inc. (DLA) : Free Stock Analysis Report

BellRing Brands, Inc. (BRBR) : Free Stock Analysis Report

To read this article on Zacks.com click here.

TERRE HAUTE, Ind., Aug. 09, 2021 (GLOBE NEWSWIRE) — Hallador Energy Company (NASDAQ – HNRG) today reported net loss of $3.0 million, ($.10) per share, adjusted EBITDA of $11.3 million.

Brent Bilsland, President and Chief Executive Officer, stated, "We are experiencing one of the strongest and most dramatic market turn arounds we have seen in years. As a result, we have added an additional 500,000 tons of contracted sales during the quarter and expect to ship ~1 million more tons in the last half of 2021 versus the first half, representing a 40% increase in shipments."

Below are highlights for the quarter and first six months of 2021:

• Additional contracted sales of 500,000 tons added during the quarter.

  • Q2 2021, shipments improved to a 5.6 million-ton annualized pace from a 4.7 million-ton annualized pace in Q1 2021. We expect shipments in the last half of 2021 to run at an ~7.0 million-ton annualized pace.

• Hallador generated $6.4 million in Adjusted Free Cash Flow during the quarter.
  

  • As of June 30, 2021, our bank debt was $130.1 million, bringing our liquidity to $26.5 million resulting in a leverage ratio of 2.76X, well within our covenant of 3.25X.

• Our entire $10 million PPP Loan was forgiven on July 23, 2021. The forgiveness of the PPP Loan will be recognized during Q3 2021.

• Solid Sales Position Through 2022

  • We added ~500,000 contracted tons to our position during the quarter and expect to add tons later in the year for 2022 and beyond as markets recover and gas prices continue to increase.

The table below represents some of our critical metrics (in thousands except for per ton data):

EBITDA, adjusted EBITDA, and adjusted free cash flow should not be considered alternatives to net income, income from operations, cash flows from operating activities or any other measure of financial performance presented in accordance with GAAP. Our method of computing EBITDA, adjusted EBITDA, and adjusted free cash flow may not be the same method used to compute similar measures reported by other companies.

Management believes that the presentation of such additional financial measures provides useful information to investors regarding our performance and results of operations because these measures, when used in conjunction with related GAAP financial measures, (i) provide additional information about our core operating performance and ability to generate and distribute cash flow, (ii) provide investors with the financial and analytical framework upon which management bases financial, operation, compensation, and planning decisions, and (iii) present measurements that investors, rating agencies, and debt holders have indicated are useful in assessing our results.

Reconciliation of GAAP "net income" to non-GAAP "adjusted EBITDA" (in thousands).

Reconciliation of GAAP "net income" to non-GAAP "adjusted free cash flow" (in thousands).

Conference Call

As previously announced our earnings conference call for financial analysts and investors will be held on Tuesday, August 10, 2021 at 2:00 pm eastern time. Dial-in numbers for the live conference call are as follows: Toll-free (888) 347-5317; Canadian Callers Toll-free (855) 669-9657; Conference ID #: Hallador Energy Company HNRG Call.

An audio replay of the conference call will be available for one week. To access the audio replay, dial US Toll-Free (877) 344-7529; Canada Toll-Free (855) 669-9658 and request to be connected to replay access code 10158706.

Hallador is headquartered in Terre Haute, Indiana and through its wholly owned subsidiary, Sunrise Coal, LLC, produces coal in the Illinois Basin for the electric power generation industry. To learn more about Hallador or Sunrise, visit our website at www.halladorenergy.com.

The second-quarter earnings season, which is in its last leg, saw a large proportion of companies not only report better-than-expected earnings per share but also register year-over-year bottom-line growth. Although results were aided by easy year-over-year comparisons as second-quarter 2020 was hardest hit by the COVID crisis, the improvement in the overall scenario with economic activities gathering steam is certainly heartwarming.

Against this favorable background, investors would like to add outperformers to their portfolios as they strive to design a portfolio of stocks that will fetch them handsome returns. No one would after all like to see their hard-earned money invested in the stock market going down the drain, particularly in such uncertain times.

However, the task is easier said than done. This is because the investing world is fraught with uncertainties and stock prices are sensitive to recent developments. Additionally, the same group of stocks may not work under all circumstances.

For example, the airline stocks may benefit from declining oil prices but may fall out of favor in the event of oil prices moving up. One of the well-accepted strategies to brave the market turbulence is to maintain a well-diversified (i.e. include stocks from different industries) portfolio.

What is the Way Forward?

Given this scenario, it is in the best interest of investors to seek guidance from “experts in the field”. The concerned experts are brokers. The opinion of brokers acts as a valuable guide for investors while deciding their course of action (buy, sell or hold) on a particular stock. Broker ratings are backed by sound logic. They have deeper insight into the happenings of a particular company as they directly communicate with management.

They undertake extensive research on the company’s publicly available financial statements apart from attending conference calls. In a bid to deepen their understanding of a particular stock, they sometimes converse with customers to find out their likes/dislikes about the products and services offered by the company.

Making the Most of Broker Opinions

The above write-up clearly suggests that by following broker actions, one can arrive at a winning basket of stocks. Keeping this in mind, we designed a screen to shortlist stocks based on improving analyst recommendations and upward revisions in earnings estimates over the last four weeks. Also, since the price/sales ratio is a strong complementary valuation metric in the presence of analyst information, it is also included. The price/sales ratio takes care of the company’s top line, making the strategy effective.

Screening Criteria

# (Up- Down Rating)/ Total (4 weeks) =Top #75: This gives the list of top 75 companies that have witnessed net upgrades over the last four weeks.

% change in Q (1) est. (4 weeks) = Top #10: This gives the top 10 stocks that have witnessed earnings estimate revisions over the past four weeks for the upcoming quarter.

To ensure that the strategy is a winning one, covering all bases, we have added the following screening parameters:

Price-to-Sales = Bot%10: The lower the ratio the better, companies meeting this criteria are in the bottom 10% of our universe of over 7,700 stocks with respect to this ratio.

Price greater than 5: A stock trading below $5 will not likely create significant interest for most investors.

Average Daily Volume greater than 100,000 shares over the last 20 trading days: Volume has to be significant to ensure that these are easily traded.

Market value ($ mil) = Top #3000: This gives us stocks that are the top 3000 if one judges by market capitalization.

Com/ADR/Canadian= Com: This takes out the ADR and Canadian stocks.

Here are five of the 10 stocks that made it through the screen:

Cross Country Healthcare CCRN: The company, currently carrying a Zacks Rank #2 (Buy), is a leading provider of healthcare staffing and workforce management. It reported better-than-expected earnings per share in each of the last four quarters, the average being 181.4%. It is being aided by the stellar performance of its primary segment Nurse and Allied Staffing, driven by a robust demand scenario.

The Greenbrier Companies GBX: The company, currently sporting a Zacks Rank #1 (Strong Buy), is a leading supplier of equipment and services to global freight transportation markets. The stock has seen the Zacks Consensus Estimate for current-year earnings skyrocket in excess of 800% over the past 60 days. The company is being aided by the recovery in the scenario pertaining to railcar manufacturing and leasing. You can see  the complete list of today’s Zacks #1 Rank stocks here. 

AutoNation AN is the largest automotive retailer in the United States. The stock, currently sporting a Zacks Rank of 1, has seen the Zacks Consensus Estimate for current-year earnings being revised 33.2% upward over the past 60 days. The company is benefiting from factors like its diversified product mix and cost-containment efforts.

Peabody Energy  BTU: St Louis, MO-based Peabody Energy engages in the coal-mining business and has both thermal and metallurgical operations. The revival in the domestic and international coal markets bodes well for this currently Zacks #2 Ranked stock that has outperformed on earnings in three of the last four quarters (lagging the consensus mark in the other quarter).

Bloomin Brands BLMN is a casual dining restaurant company with a portfolio of differentiated restaurant concepts. The company currently has a Zacks Rank #3 (Hold). The Zacks Consensus Estimate for current-year earnings has moved 31.3% north over the past 60 days. The company is being aided by the fact that the restaurant industry seems to be gradually getting back on its feet with a rebound in sales as more and more people are dining out owing to large-scale vaccination and improving economic conditions.

 

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Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.

Disclosure: Performance information for Zacks’ portfolios and strategies are available at: https://www.zacks.com/performance.

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(Bloomberg) — A months-long wage negotiation at the world’s biggest copper mine is heading into a tense finale over the coming days.

The main union at Chile’s Escondida is calling on workers to be ready to strike amid limited progress in mediated talks. But owner BHP Group said it had made substantial improvements and vowed to continue its practice of not sweetening offers during strikes.

Wage talks at a mine that accounts for about 5% of global production are being closely watched by the copper market as trillions of dollars in government stimulus fuel demand for industrial metals. Traders will have to navigate Chile’s somewhat complex labor rules to figure out the likely next steps.

After workers rejected BHP’s final wage offer in regular talks, the company exercised its option of a five-day mediation period in a bid to avert a strike. That period ends Monday. If the two sides fail to reach a deal by then, they could agree to extend mediation for as many as five more business days or a legal strike could begin.

The two sides don’t seem too far apart in terms of benefits. The union requested a bonus equivalent to 1% of the company’s profit, which would be about 21 million pesos ($26,600) each worker. In regular talks, the company offered 18 million pesos apiece and says it has sweetened terms during mediation. They may be further apart in base wages.

Read More: A Copper Supply Shock Is Brewing as Miners Dig in on Wage Talks

According to consultancy firm Plusmining, any strike would probably be shorter than the 44-day stoppage that roiled the copper market in 2017. The union would have the option, as it took up four years ago, to end the strike by freezing the current contract for 18 months and negotiate again, without receiving any bonus now. But given the company submitted an offer higher than the legal floor, workers could only take up that option after 30 days, which would put pressure on their personal finances.

While the union says BHP hasn’t done enough during mediation and attached conditions to proposed benefits, the company is ratcheting up its own pressure to get a deal done. The cost of a prolonged strike at a time of sky-high copper prices would also be heavy for the Melbourne-based miner.

“We have gone to great lengths to reach an agreement during the process, and especially in mandatory mediation,” the company said in a text message late Friday. “We hope that these efforts will be appreciated by the workers because the offer in mediation will be the best that the company will present.”

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Today is shaping up negative for CNX Resources Corporation (NYSE:CNX) shareholders, with the analysts delivering a substantial negative revision to this year's forecasts. Revenue estimates were cut sharply as analysts signalled a weaker outlook – perhaps a sign that investors should temper their expectations as well.

Following the downgrade, the latest consensus from CNX Resources' eight analysts is for revenues of US$1.5b in 2021, which would reflect a reasonable 5.5% improvement in sales compared to the last 12 months. Before the latest update, the analysts were foreseeing US$1.7b of revenue in 2021. The consensus view seems to have become more pessimistic on CNX Resources, noting the substantial drop in revenue estimates in this update.

See our latest analysis for CNX Resources

These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the CNX Resources' past performance and to peers in the same industry. The analysts are definitely expecting CNX Resources' growth to accelerate, with the forecast 11% annualised growth to the end of 2021 ranking favourably alongside historical growth of 2.9% per annum over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to grow their revenue at 2.2% per year. It seems obvious that, while the growth outlook is brighter than the recent past, the analysts also expect CNX Resources to grow faster than the wider industry.

The Bottom Line

The clear low-light was that analysts slashing their revenue forecasts for CNX Resources this year. They're also forecasting more rapid revenue growth than the wider market. Overall, given the drastic downgrade to this year's forecasts, we'd be feeling a little more wary of CNX Resources going forwards.

But wait – there's more! At least one of CNX Resources' eight analysts has provided estimates out to 2023, which can be seen for free on our platform here.

Another way to search for interesting companies that could be reaching an inflection point is to track whether management are buying or selling, with our free list of growing companies that insiders are buying.

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.

Albertsons Companies, Inc. (NYSE:ACI) shareholders have had their patience rewarded with a 27% share price jump in the last month. Looking back a bit further, it's encouraging to see the stock is up 60% in the last year.

Following the firm bounce in price, Albertsons Companies may be sending bearish signals at the moment with its price-to-earnings (or "P/E") ratio of 21x, since almost half of all companies in the United States have P/E ratios under 17x and even P/E's lower than 10x are not unusual. However, the P/E might be high for a reason and it requires further investigation to determine if it's justified.

While the market has experienced earnings growth lately, Albertsons Companies' earnings have gone into reverse gear, which is not great. It might be that many expect the dour earnings performance to recover substantially, which has kept the P/E from collapsing. If not, then existing shareholders may be extremely nervous about the viability of the share price.

Check out our latest analysis for Albertsons Companies

If you'd like to see what analysts are forecasting going forward, you should check out our free report on Albertsons Companies.

Does Growth Match The High P/E?

The only time you'd be truly comfortable seeing a P/E as high as Albertsons Companies' is when the company's growth is on track to outshine the market.

Retrospectively, the last year delivered a frustrating 32% decrease to the company's bottom line. Still, the latest three year period has seen an excellent 40% overall rise in EPS, in spite of its unsatisfying short-term performance. Accordingly, while they would have preferred to keep the run going, shareholders would probably welcome the medium-term rates of earnings growth.

Turning to the outlook, the next three years should generate growth of 25% each year as estimated by the analysts watching the company. That's shaping up to be materially higher than the 12% per year growth forecast for the broader market.

With this information, we can see why Albertsons Companies is trading at such a high P/E compared to the market. It seems most investors are expecting this strong future growth and are willing to pay more for the stock.

The Bottom Line On Albertsons Companies' P/E

Albertsons Companies' P/E is getting right up there since its shares have risen strongly. Generally, our preference is to limit the use of the price-to-earnings ratio to establishing what the market thinks about the overall health of a company.

We've established that Albertsons Companies maintains its high P/E on the strength of its forecast growth being higher than the wider market, as expected. Right now shareholders are comfortable with the P/E as they are quite confident future earnings aren't under threat. Unless these conditions change, they will continue to provide strong support to the share price.

We don't want to rain on the parade too much, but we did also find 5 warning signs for Albertsons Companies that you need to be mindful of.

If these risks are making you reconsider your opinion on Albertsons Companies, explore our interactive list of high quality stocks to get an idea of what else is out there.

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.

ST. LOUIS, Aug. 6, 2021 /PRNewswire/ — Peabody (NYSE: BTU) today announced it has extended the expiration date of its previously announced offer to purchase (the "Offer") for cash up to $13.281 million (the "Available Repurchase Amount") in aggregate accreted value of its 8.500% Senior Secured Notes due 2024 (the "2024 Notes") at a purchase price equal to 73.840% of the accreted value of the 2024 Notes to be repurchased, plus accrued and unpaid interest as set forth in the Indenture (as defined below), to, but excluding, the settlement date, to 5:00 p.m., New York City time, on September 3, 2021 (as the same may be further extended, the "Expiration Time"). Tendered 2024 Notes may be validly withdrawn at any time prior to the Expiration Time, unless extended or earlier terminated by Peabody. As of 5:00 p.m., New York City time, on August 6, 2021, $66,692.00 aggregate principal amount of 2024 Notes and $0 aggregate principal and commitment amounts of Priority Lien Obligations under the LC Agreement (as defined below) had been validly tendered and not validly withdrawn. The Offer is being made on the terms and subject to the conditions set forth in the Offer to Purchase, dated July 7, 2021 (the "Offer to Purchase"). Except as otherwise described in this press release, all other terms of the Offer as described in the Offer to Purchase remain unchanged. The Offer is being made to satisfy the requirements of the Indenture.

Subject to the Available Repurchase Amount, for each $1,000 accreted value of 2024 Notes validly tendered (and not validly withdrawn) prior to the Expiration Time and accepted by Peabody, holders of 2024 Notes will receive $738.40 in cash (the "Offer Price"), plus accrued and unpaid interest as set forth in the Indenture, to, but excluding, the settlement date. The settlement date is currently expected to be the second business day following the Expiration Time. As previously disclosed, Peabody is making a concurrent debt repurchase offer (the "Concurrent LC Agreement Offer") under the Credit Agreement, dated as of January 29, 2021, among Peabody, the lenders party thereto from time to time and JPMorgan Chase Bank, N.A., as Administrative Agent (the "LC Agreement").

If the aggregate accreted value of the 2024 Notes tendered in the Offer and the aggregate principal and commitment amounts of Priority Lien Obligations (as defined in the LC Agreement) under the LC Agreement tendered in the Concurrent LC Agreement Offer collectively exceed the Available Repurchase Amount of $13.281 million, Peabody will select the Notes, subject to the applicable procedures of the Depository Trust Company, to be purchased on a pro rata basis with such adjustments as needed so that no 2024 Notes in an unauthorized denomination are purchased in part based on the aggregate accreted value of the 2024 Notes tendered.

For example, if $15 million aggregate accreted value of Notes are tendered in the Offer and $10 million in aggregate principal and commitment amounts of Priority Lien Obligations incurred under the LC Agreement are tendered in the Concurrent LC Agreement Offer, Peabody would purchase $7,968,600 aggregate accreted value of Notes in the Offer, with such Notes to be purchased on a pro rata basis in accordance with the procedures set forth in the preceding paragraph. Under this example, Peabody also would purchase $5,312,400 of Priority Lien Obligations under the LC Agreement pursuant to the Concurrent LC Agreement Offer.

The 2024 Notes are governed by an indenture, dated as of January 29, 2021, by and among Peabody, the guarantors party thereto (the "Guarantors") and Wilmington Trust, National Association, as trustee (the "Trustee") (as amended and restated by the First Supplemental Indenture, dated as of February 3, 2021, among Peabody, the Guarantors and the Trustee, and as further amended, supplemented, restated or otherwise modified to the date hereof, the "Indenture"). Under the terms of the Indenture, within 30 days of June 30, 2021, the end of Peabody's second fiscal quarter (such fiscal quarter, the "Debt Repurchase Quarterly Period"), Peabody is obligated to offer to purchase for cash an aggregate accreted value of up to the Available Repurchase Amount of its outstanding 2024 Notes at the price described above. The Offer is intended to satisfy this requirement.

The Available Repurchase Amount for the Offer is equal to 25% of $53.127 million, which is the total aggregate principal and commitment amounts of Priority Lien Debt (as defined in the Indenture) repurchased by Peabody pursuant to open-market repurchases during the Debt Repurchase Quarterly Period. In addition, the Offer Price of $738.40 represents the price per $1,000 accreted value of Notes that is the weighted-average repurchase price for all Priority Lien Debt repurchased by Peabody during the Debt Repurchase Quarterly Period.

None of Peabody, its board of directors (or any committee thereof), Wilmington Trust, National Association, the depositary for the Offer, or the Trustee or their respective affiliates is making any recommendation as to whether or not holders should tender all or any portion of their 2024 Notes in the Offer.

This announcement is not an offer to purchase or sell, or a solicitation of an offer to purchase or sell any securities. The Offer is being made solely by the Offer to Purchase. The Offer is not being made to holders of 2024 Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction.

Peabody (NYSE: BTU) is a leading coal producer, providing essential products to fuel baseload electricity for emerging and developed countries and create the steel needed to build foundational infrastructure. Our commitment to sustainability underpins our activities today and helps to shape our strategy for the future. For further information, visit PeabodyEnergy.com.

Contact:
Alice Tharenos
314.342.7890

Forward-looking Statements

This press release contains forward-looking statements within the meaning of the securities laws. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words or variation of words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "projects," "forecasts," "targets," "would," "will," "should," "goal," "could" or "may" or other similar expressions. Forward-looking statements provide management's current expectations or predictions of future conditions, events or results. All statements that address operating performance, events, or developments that Peabody expects will occur in the future are forward-looking statements. They may also include estimates of sales targets, cost savings, capital expenditures, other expense items, actions relating to strategic initiatives, demand for the company's products, liquidity, capital structure, market share, industry volume, other financial items, descriptions of management's plans or objectives for future operations and descriptions of assumptions underlying any of the above. All forward-looking statements speak only as of the date they are made and reflect Peabody's good faith beliefs, assumptions and expectations, but they are not guarantees of future performance or events. Furthermore, Peabody disclaims any obligation to publicly update or revise any forward-looking statement, except as required by law. By their nature, forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Factors that might cause such differences include, but are not limited to, a variety of economic, competitive and regulatory factors, many of which are beyond Peabody's control, including the ongoing impact of the COVID-19 pandemic and factors that are described in Peabody's Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2020 and Peabody's Quarterly Report on Form 10-Q for the three months ended June 30, 2021, and other factors that Peabody may describe from time to time in other filings with the SEC. You may get such filings for free at Peabody's website at www.peabodyenergy.com. You should understand that it is not possible to predict or identify all such factors and, consequently, you should not consider any such list to be a complete set of all potential risks or uncertainties.

View original content to download multimedia:https://www.prnewswire.com/news-releases/peabody-announces-extension-of-the-expiration-date-for-its-offer-to-purchase-up-to-13-281-million-in-aggregate-accreted-value-of-its-8-500-senior-secured-notes-due-2024–301350583.html

SOURCE Peabody

Investors looking for stocks in the Consumer Products – Staples sector might want to consider either Albertsons Companies, Inc. (ACI) or Chewy (CHWY). But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.

Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The proven Zacks Rank puts an emphasis on earnings estimates and estimate revisions, while our Style Scores work to identify stocks with specific traits.

Albertsons Companies, Inc. and Chewy are both sporting a Zacks Rank of # 2 (Buy) right now. Investors should feel comfortable knowing that both of these stocks have an improving earnings outlook since the Zacks Rank favors companies that have witnessed positive analyst estimate revisions. But this is only part of the picture for value investors.

Value investors analyze a variety of traditional, tried-and-true metrics to help find companies that they believe are undervalued at their current share price levels.

The Value category of the Style Scores system identifies undervalued companies by looking at a number of key metrics. These include the long-favored P/E ratio, P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that help us determine a company's fair value.

ACI currently has a forward P/E ratio of 10.19, while CHWY has a forward P/E of 782.47. We also note that ACI has a PEG ratio of 0.85. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. CHWY currently has a PEG ratio of 39.12.

Another notable valuation metric for ACI is its P/B ratio of 6.36. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. By comparison, CHWY has a P/B of 553.32.

These metrics, and several others, help ACI earn a Value grade of A, while CHWY has been given a Value grade of F.

Both ACI and CHWY are impressive stocks with solid earnings outlooks, but based on these valuation figures, we feel that ACI is the superior value option right now.

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Murphy Oil Corporation MUR posted second-quarter 2021 adjusted net income of 59 cents per share, beating the Zacks Consensus Estimate of 26 cents by 127%. Also, the bottom line bounced back from the year-ago quarter’s loss per share of 71 cents.

Including the one-time charges and losses, the company incurred a net loss of 41 cents per share in the reported quarter, comparing favorably with the $2.06 loss in the prior-year quarter.

Revenues

In the quarter under review, Murphy Oil’s revenues of $549.6 million missed the Zacks Consensus Estimate of $582 million by 5.6%. However, the top line improved 160% from the prior-year quarter’s $211.5 million.

Murphy Oil Corporation Price, Consensus and EPS Surprise

Murphy Oil Corporation price-consensus-eps-surprise-chart | Murphy Oil Corporation Quote

Operational Highlights

The company produced 171,000 barrels of oil equivalent per day (MBOEPD) in the second quarter, which exceed the expected number of 100,000 MBOEPD. It comprised 58% of oil and 64% of liquids.

In the quarter under review, Murphy Oil’s total costs and expenses amounted to $539.9 million, down 7.8% from $585.7 million in the prior-year quarter.

Operating income from continuing operations came in at $9.8 million against the loss of $374.1 million in the prior-year quarter.

The company incurred net interest charges of $43.4 million, up 12.4% from $38.6 million in the prior-year quarter.

Murphy Oil hedged 45,000 barrels of oil per day (Bbl/d) at an average price of $42.77 per barrel for 2021. Also, for 2022, it hedged 20,000 Bbl/d at an average price of $44.88 per barrel.

In the reported quarter, the company completed constructing King’s Quay floating production system.

Financial Condition

Murphy Oil had cash and cash equivalents of $418.1 million as of Jun 30, 2021 compared with $310.6 million as of Dec 31, 2020. At the end of the quarter, total liquidity of the company was $2 billion.

Long-term debt summed $2,762.9 million on Jun 30, 2021 compared with $2,988.1 million as of Dec 31, 2020.

Net cash provided by continuing operations activities in the first six months of 2021 was $686.3 million compared with $369.4 million in the comparable period of 2020.

Outlook

The company adjusted its production expectation to 157.5-165.5 MBOEPD for 2021. It tightened its current-year planned capital expenditures in the range of $685-$715 million from the prior guidance of $675-$725 million excluding the Gulf of Mexico’s noncontrolling interest.

For the third quarter of 2021, it expects net production to be 162-170 MBOEPD (including the impact of storm).

Zacks Rank

Murphy Oil currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Other Releases

Occidental Petroleum Corporation OXY reported second-quarter 2021 earnings of 32 cents per share. Te Zacks Consensus Estimate was of a breakeven.

CNX Resources Corporation CNX reported second-quarter 2021 adjusted earnings of 18 cents per share, which lagged the Zacks Consensus Estimate of 25 cents by 28%.

Continental Resources CLR reported second-quarter 2021 adjusted earnings of 91 cents, beating the Zacks Consensus Estimate of 57 cents per share by 59.6%.

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NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, British Columbia, Aug. 04, 2021 (GLOBE NEWSWIRE) — Melior Resources Inc. (TSXV: “MLR”) (“Melior” or the “Company”) is pleased to announce that Ranchero Gold Corp. (“Ranchero”) has closed the second tranche of its previously announced private placement (the “Concurrent Financing”) through the offering of an additional 454,545 subscription receipts (each, a “Subscription Receipt”) at a purchase price of $0.55 per Subscription Receipt for gross proceeds of $250,000. In total, Ranchero has issued an aggregate of 9,561,613 Subscription Receipts under the Concurrent Financing for aggregate gross proceeds of $5,258,887. No finders’ fees were paid in connection with this second tranche of the Concurrent Financing. Please see the Company’s news releases dated November 2, 2020, July 13, 2021 and July 19, 2019 for further information on the Concurrent Financing.

The Concurrent Financing was completed in connection with the previously announced reverse takeover transaction (the “Transaction”) with Ranchero pursuant to which Melior will acquire all of the issued and outstanding securities of Ranchero by way of a three-cornered amalgamation in accordance with the terms and conditions of the amalgamation agreement dated February 17, 2021, as amended, among Melior, Ranchero and 1274169 B.C. Ltd. (“Melior Newco”), a wholly-owned subsidiary of Melior, as more particularly described in the Company’s news releases dated November 2, 2020, February 18, 2021 and July 13, 2021. Pursuant to the Transaction, Ranchero will amalgamate with Melior Newco, and Melior will acquire all of the outstanding common shares of Ranchero (the “Ranchero Shares”) from the Ranchero shareholders in exchange for post-consolidation common shares of Melior (the “Resulting Issuer Shares”) on the basis of one Resulting Issuer Share for one Ranchero Share. Prior to the completion of the Transaction, Melior intends to consolidate its common shares on the basis of 32.6764 pre-consolidation common shares for one post-consolidation common share of Melior.

Each Subscription Receipt entitles the holder thereof to automatically receive, upon satisfaction of certain escrow release conditions, one Ranchero Share, which shall immediately be exchanged for one Resulting Issuer Share upon completion of the Transaction.

All securities issued in connection with the Concurrent Financing are subject to an indefinite hold period, as required under applicable securities laws.

On behalf of the board of directors of the Company:

Martyn Buttenshaw
Interim Chief Executive Officer

For further information, please contact:

Martyn Buttenshaw
Interim Chief Executive Officer
+41 41 560 9070
info@meliorresources.com

This news release does not constitute an offer to sell and is not a solicitation of an offer to buy any securities in the United States. The securities of the Company and Ranchero have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws unless pursuant to an exemption from such registration.

Completion of the Transaction is subject to a number of conditions, including but not limited to, TSXV acceptance. The Transaction cannot close until all necessary approvals are obtained. There can be no assurance that the Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of the Company should be considered highly speculative.

The TSXV has in no way passed upon the merits of the Transaction and has neither approved nor disapproved the contents of this news release.

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.

Cautionary Note Regarding Forward Looking Statements

This news release contains certain forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or does not expect”, “is expected”, anticipates” or “does not anticipate” “plans”, “estimates” or “intends” or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of historical fact and may be “forward-looking statements”. Forward-looking statements contained in this news release may include, but are not limited to, the terms, structure and completion of the Transaction.

Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to materially differ from those reflected in the forward-looking statements. These risks and uncertainties include, but are not limited to: risks related to regulatory approval, including the approval of the TSXV, liabilities inherent in mine development and production; geological risks, risks associated with the effects of the COVID-19 virus, the financial markets generally, the satisfaction or waiver of the conditions precedent to the Transaction, and the ability of the Company to complete the Transaction and obtain requisite TSXV acceptance and shareholder approvals. There can be no assurance that forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipate in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.

TULSA, Okla., August 04, 2021–(BUSINESS WIRE)–Alliance Resource Partners, L.P. (NASDAQ: ARLP) today announced that Charles R. Wesley, Executive Vice President and Director of ARLP's general partner, has retired effective July 31, 2021. Mr. Wesley joined the Company in 1974 when he began working for Webster County Coal Corporation as an engineering co-op student, and rose through the ranks to become Senior Vice President – Operations in 1996, where he served until joining the Board of Directors in 2009 while also serving as Executive Vice President.

In recognition of Mr. Wesley's service to the Company and to continue to benefit from his counsel following his retirement, the Board designated Mr. Wesley with the honorary title of Director Emeritus, effective immediately following his retirement. As Director Emeritus, Mr. Wesley may attend Board and Board Committee meetings in an advisory capacity but will not vote on Board matters and will not be compensated.

"Charlie Wesley has been an important member of the Alliance team his entire career," said Joseph W. Craft III, Chairman, President and Chief Executive Officer. "Charlie's leadership over the years has been invaluable to the growth and success enjoyed by ARLP. Perhaps most importantly, Charlie's enthusiasm and work ethic became engrained in the Alliance culture, influencing leaders throughout our organization. He has our deepest appreciation and gratitude for his many contributions, and I am pleased he will remain part of our team as Director Emeritus."

The vacancy on the Board created by Mr. Wesley's retirement has not yet been filled.

About Alliance Resource Partners, L.P.

ARLP is a diversified natural resource company that generates operating and royalty income from coal produced by its mining complexes and royalty income from mineral interests it owns in strategic oil & gas producing regions in the United States, primarily the Permian, Anadarko and Williston basin.

ARLP currently produces coal from seven mining complexes its subsidiaries operate in Illinois, Indiana, Kentucky, Maryland and West Virginia. ARLP also operates a coal loading terminal on the Ohio River at Mount Vernon, Indiana. ARLP markets its coal production to major domestic and international utilities and industrial users and is currently the second largest coal producer in the eastern United States.

In addition, ARLP also generates income from a variety of other sources.

News, unit prices and additional information about ARLP, including filings with the Securities and Exchange Commission ("SEC"), are available at http://www.arlp.com. For more information, contact the investor relations department of ARLP at (918) 295-7674 or via e-mail at investorrelations@arlp.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210804005722/en/

Contacts

Brian L. Cantrell
Alliance Resource Partners, L.P.
(918) 295-7673

By Steven Ralston, CFA

OTC:DYLLF | ASX:DYL.AX

READ THE FULL DYLLF RESEARCH REPORT

The goal of Deep Yellow’s management is for the company to become a Tier I multi-jurisdictional uranium producer during the current uranium up-cycle. Management is pursuing activities that will support the completion of a DFS (Definitive Feasibility Study), including an objective of achieving a +20-year LOM operation, up from the 11 ½ years in the PFS.

The company has recently announced that the infill drilling at Tumas 3 has converted 117% of the existing Inferred Resource to the Indicated Resource category. In addition, Deep Yellow has submitted an EIA Scoping Report and filed a MLA (Mining License Application) with the Namibian Ministry of Mines and Energy (MME).

Several other highly significant milestones have been achieved over the last six months that support the EIA Scoping Report, MLA and the ongoing preparation of a DFS.

A multi-phase infill drilling program was completed over area of Tumas 3 (West, Central & East) which was comprised of a 17,679-meter campaign that consisted of 911 RC holes. The initial focus was on Tumas 3 East, and then the program moved to Tumas 3 Central & West. The infill drilling program targeted the lateral extensions of the Tumas 3 deposits. Drill holes were surveyed with down-hole radiometric gamma logging providing data to confirm grade continuity across the drilled areas, which is exemplified by the GT interval (grade x thickness) map below.

Estimated Mineral Resources of Tumas 3

The drilling program at Tumas 3 contributed to a significant upgrade of the company’s estimated resources. The Tumas 3 deposit now has estimated Indicated & Inferred Resources of 59.9 million lbs. U₃0₈ grading at 308ppm uranium, of which 54.9 million lbs. is classified as Indicated at 320ppm uranium. The infill drilling program upgraded 117% of prior existing Inferred Resources to the Indicated category.

Estimated Measured and Indicated Mineral Resources of Tumas Project (1, 2 & 3)

Consequently, Total Measured and Indicated Resources for Tumas Project (Tumas 1, Tumas 2 & Tumas 3 deposits) have been upgraded in quality through the recent infill drilling program. The estimated Tumas resource base now estimated to be 79.1 million lbs. U₃0₈ at 271ppm, up 508% from the estimated Measured & Indicated Resources of 13.0 million lbs. U₃0₈ in October 2016 (when the current management took charge).

Total Estimated Mineral Resources of Tumas Project (1, 2 & 3)

The Tumas palaeo-channel system continues to be highly prospective and is management’s major focus within the Reptile Project, along with the channel’s continuation to the Tumas deposit and beyond to the west. Through exploration activities and drilling campaigns, the estimated total resources (Measured, Indicated and Inferred) at the Tumas 1, 2 and 3 deposits have increased 756% from 13.3 million lbs. U₃0₈ in 2016 (when the current management took charge) to 113.9 million lbs. U₃0₈ today.

Total Estimated Mineral Resources of Deep Yellow

Since 2016 (when current management took charge), the company’s exploration campaigns have increased its estimated Total Resources (Measured, Indicated & Inferred) by 109% from 93.8 million lbs. U₃0₈ in 2016 to 195.8 million lbs. U₃0₈ in July 2021. Importantly, infill drilling programs have increased Indicated Resources by 196% through the discovery of additional Indicated Resources and the conversion of Inferred Resources to the Indicated category.

Only 60% of the known palaeochannel system has been drilled. An additional 50 kilometers remains to be tested. The expanded resource base is expected to help support management’s 20-year LOM target.

Definitive Feasibility Study (DFS)

The DFS for the Tumas Project is progressing as work continues on the economic feasibility of mining the calcrete-associated palaeochannel uranium deposits, pit optimization studies and additional metallurgical optimization test work. Results of these trade-off and optimization studies are expected to be announced periodically during the second half of 2021.

Environmental Impact Assessment

Baseline studies on groundwater, radiological, air quality, and flora & fauna conditions were completed for the Environmental Impact Assessment (EIA) during the first half of 2021. Thereafter, the EIA Scoping Report for the Tumas Project was delivered to the relevant agencies of the Namibian Government on July 15, 2021. The submission (and approval) of an EIA is required before the Environmental Commissioner can issue an Environmental Clearance Certificate (ECC), which is a requirement for a Mining License.

Mining License

On July 21, 2021, Deep Yellow filed a Project Mining License Application with the Namibian Ministry of Mines and Energy (MME) for the Tumas Project area. As part of the process, the MME will require submission of the DFS on the Tumas Project, an Environmental Impact Assessment (EIA) and an Environmental Management Plan (EMP). Once an Environmental Clearance Certificate (ECC) is granted by the Ministry of Environment, Forestry and Tourism, Mining License (MLA 237) can be granted by the MME. The process is expected to require 18 months to complete.

Effective May 27, 2021, Deep Yellow Limited was added to the MSCI (Morgan Stanley Capital International) Global Market Cap Index as part of MSCI’s semi-annual rebalancing procedure. Consequently, Deep Yellow was also added to the Australia Micro-Cap Index. Many professional portfolio managers and mutual funds benchmark to these indices. 95 of the world’s 100 largest money managers are clients of MSCI’s indices database and analytics. Consequently, the shareholder base of Deep Yellow should broaden, and the stock should experience greater liquidity. In addition, the inclusion of the company’s stock into these two indices should expand awareness of Deep Yellow among investors, both retail and institutional.

Deep Yellow has achieved a series of highly significant milestones during calendar 2021.

1) In February 2021, a positive Pre-Feasibility Study (PFS) was completed on the Tumas Project, aka the Reptile Project, including a Maiden Reserve for the Project

2) Work on the Definitive Feasibility Study commenced in February 2021 with an expected completion date by the end of calendar 2022

a. A multi-phase drilling program is focused on

i. converting Inferred Resources to Indicated Resource JORC status

ii. defining the boundaries of the Tumas 3 deposit, a generally east-west trending, calcrete-type palaeochannel system

iii. expanding the Life of Mine (LOM) from 11.5 years (defined by the PFS) to at least 20 years in the upcoming DFS with an anticipated annual production rate of approximately 3.0 million pounds

b. 17,679-meter infill drilling program consisting of 911 RC holes at Tumas 3 completed

i. Phase 1: 6,987-meter infill drilling program consisting of 445 RC holes at Tumas 3 East was completed on April 28, 2021

ii. Phase 2a: 7,634-meter infill drilling program at Tumas 3 Central consisting of 359 RC holes was completed on May 27, 2021

iii. Phase 2b: 3.058-meter infill drilling program at Tumas 3 West consisting of 107 RC holes was completed on June 18, 2021

c. An intermediate, updated Mineral Resource Estimate for Tumas 3 was announced on July 29, 2021.

i. 2021 infill drilling program at Tumas 3 converted 117% of the existing Inferred Resource to the Indicated Resource category

ii. an additional 5.7 million pounds of Indicated Mineral Resources were identified from peripheral zones

iii. total Indicated Resource now estimated to be 54.9 million pounds eU3O8 (at 320 ppm) versus prior estimate of 28.4 million pounds (at 299ppm)

d. Currently, a RC drilling program at Tumas 1 East is in process

3) NOVA JV

a. 3,213-meter drilling campaign at the Barking Gecko Project completed on March 30, 2021

i. Two highly prospective zones identified

1. Barking Gecko North: 2 km by 1 km (open to the east, SE and at depth)

2. Barking Gecko South: 4 km by 0.5 km (open to the NW and SE)

b. Deep Yellow, JOGMEC and Toro agreed to a 12-month program with a budget of AUD$1.1 million.

i. Phase 1: 14-hole, 3,500-meter RC drilling program ($580,000) to follow up on the encouraging results above. Drilling commenced on July 12^th and is expected to be completed in August.

4) Successful completion of financings to fund management’s dual-pillar growth strategy, namely advancing the Tumas Project to production and becoming a multi-jurisdictional producer

a. The completion of a AUD$ 40.8 million private placement (62,768,803 ordinary shares at AUD$0.65 per share) in February 2021

b. An oversubscribed Share Purchase Plan was completed in late March 2021. Gross proceeds were approximately AUD$2.00 million

c. In June 2022, options exercisable at $0.50 expired. The exercise of some of these options provided approximately AUD$3.28 million

d. As of June 30, 2021, the company’s cash balance was AUD52.4 million (US$ 38.5 million) compared to AUD$51.3 million as of March 31, 2021.

e. The net proceeds plus cash on hand will be utilized

i. to fund drilling programs

ii. to complete the DFS on the Tumas Project

iii. to pursue acquisitions/ mergers

We expect that management will deliver on its plan to become a tier-one uranium producer with an annual operating capacity of 5-to-10 million lbs. of U308, both through organic growth by means of developing its Namibian projects and through acquiring and developing additional uranium projects located in other jurisdictions.

Valuation

Broadly speaking, the public uranium companies can be grouped into three segments: producers, development companies and exploration companies. Producers are actively mining and generating revenues. Exploration companies are prospecting and/or drilling to establish mineral resources. In between these two segments are the development companies that already have established resources and are advancing through the process to bring a mine in operation, generally from the point of initiating a Pre-Feasibility Study to the actual construction of a mine. The comparable companies to Deep Yellow fall into this category.

Further, the comparable companies have been narrowed through quantitative factors, particularly those with a market capitalization over $100 million and trading above $0.30 per share. This process captures a range of well-funded junior uranium development companies. Currently, the P/B valuation range of these comparable companies is between 0.9 and 8.9. With the expectation that Deep Yellow’s stock will attain a mid-second quartile P/B ratio of 6.09, our comparable analysis valuation price target is US$1.29.

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Plains All American Pipeline, L.P. PAA reported second-quarter 2021 adjusted earnings of 23 cents per unit, which lagged the Zacks Consensus Estimate by a penny. The bottom line also declined 8% from the year-ago figure.

For the quarter under review, the partnership reported GAAP loss of 37 cents per unit against earnings of 13 cents in the year-ago period.

Total Revenues

Total revenues of $9,930 million surpassed the Zacks Consensus Estimate of $7,595 million by 30.7%. Further, the top line improved 207.9% from $3,225 million reported a year ago.

Plains All American Pipeline, L.P. Price, Consensus and EPS Surprise

Plains All American Pipeline, L.P. price-consensus-eps-surprise-chart | Plains All American Pipeline, L.P. Quote

Highlights of the Release

For the quarter under review, Plains All American’s total costs and expenses were $10,166 million, up 237.1% year over year. This increase was owing to higher purchases and related costs.

Total adjusted EBTIDA for the quarter was $579 million, up 10.5% from the year-ago period.

During the quarter, the Transportation segment’s total volumes were 6,248 thousand barrels per day (Mbls/d) compared with 5,914 Mbls/d in the prior-year period.

Net interest expenses decreased 0.9% year over year to $107 million.

Segmental Performance

In the Transportation segment, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $433 million increased 25.1% from the year-ago figure, primarily due to lower tariff volumes in multiple areas served driven by the impact of excess pipeline capacity in most regions of the country.

In the Facilities segment, adjusted EBITDA summed $140 million, down 19.5% from the year-ago figure. This fall was primarily due to the impact of asset sales and reduced NGL intersegment fee structure based on market conditions.

The Supply and Logistics segment reported adjusted EBITDA of $5 million against ($8) million in second-quarter 2020.

Financial Update

As of Jun 30, 2021, current assets were $5,676 million compared with $3,665 million at 2020-end.

As of Jun 30, 2021, Plains All American had a long-term debt of $8,389 million compared with $9,382 million on Dec 31, 2020.

As of the same date, its long-term debt-to-total book capitalization was 47%, down from 49% at 2020-end.

Guidance

Plains All American expects 2021 adjusted net income to be 96 cents per unit. The partnership’s 2021 adjusted EBITDA expectation is $2,175 million.

Plains All American expects average daily volumes in Transportation and Supply and Logistics segments to be 6,050 Mbls/d and 1,400 Mbls/d, respectively.

Zacks Rank

Plains All American currently carries a Zacks Rank #4 (Sell).

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

Other Releases

Devon Energy Corp. DVN reported second-quarter 2021 adjusted earnings of 60 cents, beating the Zacks Consensus Estimate of 53 cents per share by 13.2%.

CNX Resources Corporation CNX reported second-quarter 2021 adjusted earnings of 18 cents per share, which lagged the Zacks Consensus Estimate of 25 cents by 28%.

Continental Resources CLR reported second-quarter 2021 adjusted earnings of 91 cents, beating the Zacks Consensus Estimate of 57 cents per share by 59.6%.

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Zacks Investment Research

Devon Energy Corp. DVN reported second-quarter 2021 adjusted earnings of 60 cents, beating the Zacks Consensus Estimate of 53 cents per share by 13.2%. In the year-ago quarter, the company incurred a loss of 18 cents per share.

GAAP earnings for the second quarter were 38 cents compared with 32 cents per share in the year-ago period.

Revenues

Total revenues of $2,417 million surpassed the Zacks Consensus Estimate by 1.5%. The top line also improved 17.9% from the year-ago figure.

Devon Energy Corporation Price, Consensus and EPS Surprise

Devon Energy Corporation price-consensus-eps-surprise-chart | Devon Energy Corporation Quote

Production

Total net production for second-quarter 2021 touched 567,000 barrels of oil equivalent per day (Boe/d), up 74.5% year over year. Oil production averaged 291,000 barrels per day (Bbl/d), which increased 90.2% on a year-over-year basis, primarily due to strong contribution from Delaware and Williston Basin assets. Natural gas liquids production was also up 86.9% year over year.

Realized Prices

Realized oil prices for the quarter were $50.34 per barrel, up 37.9% from $36.5 in the year-ago period. Realized prices for natural gas liquids were up 151.5% to $23.64 per barrel from $9.4 in the prior-year quarter.

Realized gas prices were up 40.1% to $2.2 per thousand cubic feet from $1.57 in the prior-year quarter.

Total oil equivalent realized prices — including cash settlements — were $34.64 per Boe, up 56% year over year.

Other Highlights

Total production expenses for the second quarter were $513 million, increasing 95% year over year. With capital programs focused on developing higher-margin production opportunities, oil and natural gas liquid volumes accounted for 74% of Devon Energy’s product mix for the quarter.

Financing costs for the reported quarter were $80 million, up from $69 million in the year-ago period.

Financial Highlights

As of Jun 30, 2021, the company had cash and cash equivalents including restricted cash of $1,539 million, up from $2,237 million on Dec 31, 2020. It exited the second quarter with $4.5 billion of liquidity and no debt maturities till 2023.

As of Jun 30, 2021, long-term debt amounted to $6,502 million, up from $4,298 million on Dec 31, 2020.

Devon Energy’s net cash from operating activities for second-quarter 2021 was $1,093 million compared with $150 million in the year-ago period.

Guidance

It expects total production for the third quarter in the range of 566,000-594,000 Boe/d.

Devon Energy’s oil production guidance for 2021 is projected in the range of 280,000-290,000 BBl/d. For 2021, total production is expected in the range of 539,000-569,000 Boe/d.

Capital expenditure for 2021 is expected within $1,720-$1,980 million, including upstream expenditure in the range of $1,600-$1,800 million. Third-quarter expenditure is projected in the range of $420-$490 million.

Zacks Rank

Currently, Devon Energy sports a Zacks Rank #1 (Strong Buy).

You can see the complete list of today’s Zacks #1 Rank stocks here.

Other Releases

Occidental Petroleum Corporation OXY reported second-quarter 2021 earnings of 32 cents per share versus the Zacks Consensus Estimate of a breakeven.

CNX Resources Corporation CNX reported second-quarter 2021 adjusted earnings of 18 cents per share, which lagged the Zacks Consensus Estimate of 25 cents by 28%.

Continental Resources CLR reported second-quarter 2021 adjusted earnings of 91 cents, beating the Zacks Consensus Estimate of 57 cents per share by 59.6%.

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Occidental Petroleum Corporation OXY reported second-quarter 2021 earnings of 32 cents per share versus the Zacks Consensus Estimate of a breakeven. The company incurred a loss of $1.76 per share in the prior-year quarter.

Total Revenues

Occidental's total revenues were $6,010 million, which surpassed the Zacks Consensus Estimate of $5,847 million by 2.8%.

The top line also improved 101.9% from the year-ago quarter. The year-over-year improvement was due to strong contribution from all segments.

Occidental Petroleum Corporation Price, Consensus and EPS Surprise

Occidental Petroleum Corporation price-consensus-eps-surprise-chart | Occidental Petroleum Corporation Quote

Segment Details

Oil and Gas revenues for the quarter were $4,505 million, up 120.8% year over year.

Chemical revenues for the quarter were $1,187 million, up 40.3% year over year.

Midstream & Marketing revenues for the quarter were $497 million, up 143.6% year over year.

Production & Sales

Occidental’s total production volume for the second quarter was 1,203 thousand barrels of oil equivalent per day (Mboe/d), which exceeded the upper end of the guided range of 1,140-1,170 Mboe/d. Strong production volumes were attributed to higher volumes from the Permian Resources region. Permian Resources production for the second quarter was 504 Mboe/d, which exceeded the guided range of 490-5000 Mboe/d.

For the quarter under review, total sales volume was 1,199 Mboe/d, down 13.5% from 1,386 Mboe/d recorded in the year-ago period. The decline was due to a drop in U.S. and International sales volumes.

Realized Prices

Second-quarter realized prices for crude oil improved 177.4% year over year to $64.18 per barrel on a worldwide basis. Worldwide realized natural gas liquids prices improved 221.7% from the prior-year quarter to $25.06 per barrel. Worldwide natural gas prices increased 112.7% from the year-ago quarter to $2.34 per thousand cubic feet. Despite a decline in year-over-year sales volume, the company benefited from worldwide improvement in commodity prices.

Highlights of the Release

Occidental’s total expenses for the reported quarter were $5,823 million, down 48.4% year over year.

Out of its planned divestiture of $10.2 billion, the company has already completed $9.2 billion and utilized a major portion of the proceeds to lower outstanding debts.

Interest expenses for the reported quarter were up 24.2% to $385 million from $310 million in the year-ago period.

Financial Position

As of Jun 30, 2021, Occidental had cash and cash equivalents of $4,569 million compared with $2,008 million on Dec 31, 2020.

As of Jun 30, 2021, the company had a long-term debt (net of current portion) of $35,352 million compared with $35,745 million on Dec 31, 2020. The debt level decrease was due to effective management of debt since the acquisition of Anadarko.

For first- half of 2021, cash from operations was $4,224 million, up from $1,699 million in the prior-year period. Free cash flow for the first half of 2021 was $3.6 billion.

For first-half 2021, Occidental’s total capital expenditure was $1,277 million compared with $1,675 million invested in the year-ago period.

Guidance

For third-quarter 2021, it expects production in the range of 1,130-1,160 Mboe/d and output from Permian Resources in the band of 484-494 Mboe/d. The company expects exploration expenses to be $55 million.

For 2021, Occidental expects production to be 1,150 Mboe/d and output from Permian Resources to be 483 Mboe/d. The company expects exploration expenses for 2021 to be $250 million.

It expects to invest $2.9 billion in 2021 to further strengthen the existing operations. A total of $2.53 billion was invested in 2020. A major portion of the planned capital expenditure will be directed toward strengthening its oil and gas operations.

Zacks Rank

Currently, Occidental carries a Zacks Rank #3 (Hold).

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

Other Releases

Devon Energy Corp. DVN reported second-quarter 2021 adjusted earnings of 60 cents, beating the Zacks Consensus Estimate of 53 cents per share by 13.2%.

CNX Resources Corporation CNX reported second-quarter 2021 adjusted earnings of 18 cents per share, which lagged the Zacks Consensus Estimate of 25 cents by 28%.

Continental Resources CLR reported second-quarter 2021 adjusted earnings of 91 cents, beating the Zacks Consensus Estimate of 57 cents per share by 59.6%.

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CNX Resources Corporation. (CNX) : Free Stock Analysis Report

Continental Resources, Inc. (CLR) : Free Stock Analysis Report

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Zacks Investment Research

VANCOUVER, British Columbia, Aug. 03, 2021 (GLOBE NEWSWIRE) — SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) (“SouthGobi” or the “Company”) announces that the board of directors will approve the financial results of the Company and its subsidiaries for the second quarter of 2021 on Friday, August 13, 2021. These results will be released on Friday, August 13, 2021.

About SouthGobi
SouthGobi, listed on the Toronto and Hong Kong stock exchanges, owns and operates its flagship Ovoot Tolgoi coal mine in Mongolia. It also holds the mining licences of its other metallurgical and thermal coal deposits in South Gobi region of Mongolia. SouthGobi produces and sells coal to customers in China.

Here are five stocks added to the Zacks Rank #1 (Strong Buy) List today:

Albertsons Companies, Inc. ACI: This operator of food and drug retail stores in the United States has seen the Zacks Consensus Estimate for its current year earnings increasing 6.5% over the last 60 days.

Albertsons Companies, Inc. Price and Consensus

Albertsons Companies, Inc. price-consensus-chart | Albertsons Companies, Inc. Quote

Century Communities, Inc. CCS: This designer, developer, constructor and marketer of single-family attached and detached homes has seen the Zacks Consensus Estimate for its current year earnings increasing 10.9% over the last 60 days.

Century Communities, Inc. Price and Consensus

Century Communities, Inc. price-consensus-chart | Century Communities, Inc. Quote

Encore Wire Corporation WIRE: This low-cost manufacturer of copper electrical building wires and cables has seen the Zacks Consensus Estimate for its current year earnings increasing more than 100% over the last 60 days.

Encore Wire Corporation Price and Consensus

Encore Wire Corporation price-consensus-chart | Encore Wire Corporation Quote

Heidrick & Struggles International, Inc. HSII: This provider of executive search and consulting services to businesses and business leaders has seen the Zacks Consensus Estimate for its current year earnings increasing 17.1% over the last 60 days.

Heidrick & Struggles International, Inc. Price and Consensus

Heidrick & Struggles International, Inc. price-consensus-chart | Heidrick & Struggles International, Inc. Quote

Owens Corning OC: This manufacturer and marketer of insulation, roofing, and fiberglass composite materials has seen the Zacks Consensus Estimate for its current year earnings increasing 6.3% over the last 60 days.

Owens Corning Inc Price and Consensus

Owens Corning Inc price-consensus-chart | Owens Corning Inc Quote

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

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Albertsons Companies, Inc. (ACI) : Free Stock Analysis Report

Century Communities, Inc. (CCS) : Free Stock Analysis Report

Owens Corning Inc (OC) : Free Stock Analysis Report

Heidrick & Struggles International, Inc. (HSII) : Free Stock Analysis Report

Encore Wire Corporation (WIRE) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

(Bloomberg) — A tightening global copper market is facing the real possibility of simultaneous strike disruptions at three mines in Chile, the top producer.

By far the most serious threat to global supplies comes from Escondida, the biggest copper mine in the world, where workers rejected owner BHP Group’s final wage offer in voting last week. Unless the two sides can reach a deal in government-mediated talks this week, the market may be left without production from a project that last year churned out 1.2 million metric tons.

Two other smaller mines — Codelco’s Andina and JX Nippon Mining & Metals’ Caserones — are at the same stage in their collective bargaining. That puts upwards of 7% of world production at risk in a particularly sensitive moment in the metal cycle and in Chilean politics.

Labor tensions are intensifying just as trillions of dollars in government stimulus fuel demand for industrial metals. Copper futures have gained over the past two weeks after retreating from an all-time high in May. On Monday, prices advanced as much as 0.8% on the London Metal Exchange before closing down 0.3% at $9,700.50 a ton after data showed U.S. manufacturing growth eased in July.

The windfall enjoyed by producers is emboldening mine workers, with host nations also looking at ratcheting up taxes to help resolve inequalities exacerbated by the pandemic. In Chile, that’s all playing out as the nation drafts a new constitution that may lead to tougher rules on water, glaciers, mineral and community rights, with presidential elections in November.

At the same time, companies are striving to keep labor costs in check in a cyclical business and as ore quality deteriorates and input prices start to rise.

In last week’s vote, members rejected BHP’s proposal by an overwhelming 99.5%. Union leaders say the company is dangling large one-time bonuses in exchange for longer hours and new demands in a bid to boost productivity and profit. BHP said its proposal included better conditions and new benefits and that it remains open to dialog.

“We hope that this strong vote will be the decisive wake-up call for BHP to initiate substantive discussions to reach satisfactory agreements, if it wants to avoid a lengthy conflict that could be the costliest in the country’s union history,” the union said.

(Updates prices in fourth paragraph)

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Here are four stocks with buy ranks and strong growth characteristics for investors to consider today, August 2nd:

Albertsons Companies, Inc. ACI: This food and drug stores operator carries a Zacks Rank #1 (Strong Buy), has witnessed the Zacks Consensus Estimate for its current year earnings increasing 6.5% over the last 60 days.

Albertsons Companies, Inc. Price and Consensus

Albertsons Companies, Inc. price-consensus-chart | Albertsons Companies, Inc. Quote

Albertsons Companies has a PEG ratio of 0.85 compared with 1.92 for the industry. The company possesses a Growth Score of A.

Albertsons Companies, Inc. PEG Ratio (TTM)

Albertsons Companies, Inc. peg-ratio-ttm | Albertsons Companies, Inc. Quote

Tempur Sealy International, Inc. TPX: This manufacturer, marketer, and distributor of bedding products carries a Zacks Rank #1, has witnessed the Zacks Consensus Estimate for its current year earnings increasing nearly 4% over the last 60 days.

Tempur Sealy International, Inc. Price and Consensus

Tempur Sealy International, Inc. price-consensus-chart | Tempur Sealy International, Inc. Quote

Tempur Sealy has a PEG ratio of 0.70, compared with 0.87 for the industry. The company possesses a Growth Score of B.

Tempur Sealy International, Inc. PEG Ratio (TTM)

Tempur Sealy International, Inc. peg-ratio-ttm | Tempur Sealy International, Inc. Quote

Steven Madden, Ltd. SHOO: This designer, marketer, and seller of fashion-forward branded and private label footwear carries a Zacks Rank #1, has witnessed the Zacks Consensus Estimate for its current year earnings increasing 24.6% over the last 60 days.

Steven Madden, Ltd. Price and Consensus

Steven Madden, Ltd. price-consensus-chart | Steven Madden, Ltd. Quote

Steven Madden has a PEG ratio of 1.41, compared with 1.50 for the industry. The company possesses a Growth Score of A.

Steven Madden, Ltd. PEG Ratio (TTM)

Steven Madden, Ltd. peg-ratio-ttm | Steven Madden, Ltd. Quote

Lincoln Electric Holdings, Inc. LECO: This designer, developer, manufacturer, and seller of welding, cutting, and brazing products carries a Zacks Rank #1, has witnessed the Zacks Consensus Estimate for its current year earnings increasing 7.3% over the last 60 days.

Lincoln Electric Holdings, Inc. Price and Consensus

Lincoln Electric Holdings, Inc. price-consensus-chart | Lincoln Electric Holdings, Inc. Quote

Lincoln Electric has a PEG ratio of 1.77, compared with 2.08 for the industry. The company possesses a Growth Score of B.

Lincoln Electric Holdings, Inc. PEG Ratio (TTM)

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Albertsons Companies, Inc. (NYSE:ACI) just released its quarterly report and things are looking bullish. It was overall a positive result, with revenues beating expectations by 3.7% to hit US$21b. Albertsons Companies also reported a statutory profit of US$0.78, which was an impressive 28% above what the analysts had forecast. The analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. So we collected the latest post-earnings statutory consensus estimates to see what could be in store for next year.

See our latest analysis for Albertsons Companies

Taking into account the latest results, Albertsons Companies' 16 analysts currently expect revenues in 2022 to be US$67.1b, approximately in line with the last 12 months. Per-share earnings are expected to leap 41% to US$1.85. Before this earnings report, the analysts had been forecasting revenues of US$66.1b and earnings per share (EPS) of US$1.83 in 2022. The consensus analysts don't seem to have seen anything in these results that would have changed their view on the business, given there's been no major change to their estimates.

The consensus price target rose 13% to US$23.75despite there being no meaningful change to earnings estimates. It could be that the analystsare reflecting the predictability of Albertsons Companies' earnings by assigning a price premium. The consensus price target is just an average of individual analyst targets, so – it could be handy to see how wide the range of underlying estimates is. Currently, the most bullish analyst values Albertsons Companies at US$30.00 per share, while the most bearish prices it at US$15.00. This is a fairly broad spread of estimates, suggesting that analysts are forecasting a wide range of possible outcomes for the business.

Looking at the bigger picture now, one of the ways we can make sense of these forecasts is to see how they measure up against both past performance and industry growth estimates. We would highlight that sales are expected to reverse, with a forecast 2.2% annualised revenue decline to the end of 2022. That is a notable change from historical growth of 5.7% over the last three years. Compare this with our data, which suggests that other companies in the same industry are, in aggregate, expected to see their revenue grow 5.1% per year. So although its revenues are forecast to shrink, this cloud does not come with a silver lining – Albertsons Companies is expected to lag the wider industry.

The Bottom Line

The most obvious conclusion is that there's been no major change in the business' prospects in recent times, with the analysts holding their earnings forecasts steady, in line with previous estimates. Fortunately, the analysts also reconfirmed their revenue estimates, suggesting sales are tracking in line with expectations – although our data does suggest that Albertsons Companies' revenues are expected to perform worse than the wider industry. There was also a nice increase in the price target, with the analysts clearly feeling that the intrinsic value of the business is improving.

Following on from that line of thought, we think that the long-term prospects of the business are much more relevant than next year's earnings. We have forecasts for Albertsons Companies going out to 2024, and you can see them free on our platform here.

You should always think about risks though. Case in point, we've spotted 4 warning signs for Albertsons Companies you should be aware of.

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.

Image source: The Motley Fool. CNX Resources Corporation (NYSE: CNX)Q2 2021 Earnings CallJul 29, 2021, 10:00 a.m. ETContents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: OperatorGood morning, and welcome to the CNX Resources Second Quarter 2021 Earnings Conference Call.