(Bloomberg) — Just over five years ago Anglo American Plc was in deep trouble. The natural resources giant, beset by a collapse in commodity prices, scrapped its dividend and announced plans to close mines and cut thousands of workers. Amid talk of an emergency capital raise, its market value fell to less than $3 billion.
This week, the trials of 2016 probably seemed like a parallel universe to its Chief Executive Officer Mark Cutifani. Fueled by a rally in iron ore and other commodity prices, he announced record first-half earnings and billions in dividends. Anyone who took a punt on Anglo’s shares when they reached their nadir, would have seen a 14-fold increase as the market capititalization soared to $55 billion.
“High commodity prices have been very important to us,” Cutifani told investors earlier this week. “We don’t think this is as good as it gets.”
Anglo American is one of many: with raw materials prices surging, the whole natural resources sector is showering shareholders with special dividends and buybacks as miners, oil drillers, trading houses, steelmakers and farmers reap billions in windfall profits. The sector, marked down by investors because of its contribution to climate change and a reputation of squandering money on mega-projects, is again a great cash-machine.
The economic rebound from last year’s Covid slump has powered an explosive rally in commodity prices as consumers forgo vacations and dining out and spend their money loading up on physical goods instead: everything from patio heaters to start-of-the art TVs. Politicians are helping, too, lavishing hundreds of billions on resource-heavy infrastructure projects.
The Bloomberg Commodity Spot Index, a basket of nearly two dozen raw materials, surged to a 10-year high this week and is rapidly closing in on the record set in 2011. Brent crude, the global oil benchmark, has again surged above $75 a barrel, copper is headed back toward $10,000 a ton, European natural gas is at its highest ever for the summer season, and steel is changing hands at unprecedented levels. Agricultural commodities such as corn, soybeans and wheat are also expensive.
“Demand continues to improve with increasing global vaccinations,” Joe Gorder, the chief executive of Valero Energy Corp., one of the world’s largest oil refiners, said earlier this week.
Even commodities long left for dead, like thermal coal, are enjoying a new life in 2021. Coal, burned in power stations to produce electricity, together with huge volumes of carbon emissions, is trading at a 10-year high.
While commodities prices are the main reason behind the turnaround, there are structural factors at play as well. Miners and oil companies have cut spending in new projects savagely, creating a supply shortfall. The miners were first, as they curbed investment from 2015-16 as investors demanded more discipline; oil companies followed up last year and some major energy companies this week announced further cuts in spending for 2021. The result is that while demand is surging, supply isn’t — at least for now. The oil majors are benefiting too from the work of the OPEC+ alliance of oil producers, which is still holding back a large share of output.
Anglo American, which announced $4 billion in dividends, is probably the most remarkable turnaround story in the natural resources sector, but its profits were still dwarfed by its bigger rivals. Rio Tinto Group and Vale SA, the world’s two leading iron ore miners, together vowed to hand back more than $17 billion in dividends last week. There’s still more to come for investors, with both BHP Group, the world’s biggest miner, and Glencore Plc, another big miner and commodity trader, yet to report.
And for once, the world’s biggest steelmakers were not only able to absorb the costs, but pass them on. An industry that has spent much of the last decade in crisis is now also able to reward long suffering shareholders. The world’s largest steel maker outside China, ArcelorMittal SA, that was forced to sell shares and scrap its dividend just five years ago, posted its best results since 2008 this week and announced a $2.2 billion share buyback program.
The miners have stolen the spotlight from the energy industry, traditionally the biggest dividend payer in the natural resources industry.
Still, Big Oil recovered from the historic price collapse of 2020, when a vicious Saudi-Russian price war and the Covid-19 pandemic briefly sent the value of West Texas Intermediate, the U.S. oil benchmark, below zero. Supported by rising oil, natural gas, and, above all, the chemicals that go into plastics, Exxon Mobil Corp., Chevron Corp., Royal Dutch Shell Plc, and TotalEnergies SE delivered profits that went to pre-covid levels. BP Plc, the smallest of the top five oil majors, will report results next week.
With cash flow surging, Shell, which last year cut its dividend for the first time since the Second World War, was able to hike it nearly 40%, and announced an additional $2 billion in buybacks.“We wanted to signal to the market the confidence that we have in cash flows,” Shell CEO Ben van Beurden said. Chevron and Total also announced they will buy shares. Exxon, though, is still licking its wounds and focused on paying down debt.
The more opaque world of commodity trading has also cashed in. Glencore said this week that it was expecting bigger trading profits than forecast, with rivals Vitol Group and Trafigura Group, two of the world’s largest oil traders, also benefiting from lucrative opportunities created by rocketing prices.
The agricultural traders have cashed on higher prices and unusually strong demand from China. Bunge Ltd., a trader that’s the world’s largest crusher of soybeans, told investors it expected to deliver its best earnings-per-share since its initial public offer two decades ago. Archer-Daniels-Midland Co., another big American grain trader and processor, also flagged strong earnings. And Cargill Inc., the world’s largest agricultural trader, is heading toward record earnings in its 2021 fiscal year.
Whether the natural resources boom can last is hotly contested. Many investors worry climate change makes the long-term future of the industry hard to read and they also fret about the tendency of executives to approve expensive projects at the peak of the cycle. Mining executives fear Chinese demand will slow down at some point, hitting iron ore in particular. But the current lack of investments may support other commodities, like copper and oil.
But Shell’s Van Beurden summed up the bullish case earlier this week: “Supply is going to be constrained and demand is actually quite strong”.
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NEW YORK, July 31, 2021 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Piedmont Lithium Inc. f/k/a/ Piedmont Lithium Limited (NASDAQ: PLL, PLLL) between March 16, 2018 and July 19, 2021, inclusive (the “Class Period”), of the important September 21, 2021 lead plaintiff deadline.
SO WHAT: If you purchased Piedmont securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the Piedmont class action, go to http://www.rosenlegal.com/cases-register-2124.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than September 21, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Piedmont has not, and would not, follow its stated steps or timeline to secure all proper and necessary permits; (2) Piedmont failed to inform relevant people and governmental authorities of its actual plans; (3) Piedmont failed to file proper applications with relevant governmental authorities (including state and local authorities); (4) Piedmont, and its lithium business, does not have “strong local government support”; and (5) as a result, defendants’ public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
To join the Piedmont class action, go to http://www.rosenlegal.com/cases-register-2124.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.
Attorney Advertising. Prior results do not guarantee a similar outcome.
——————————-
Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com
LOS ANGELES, CA / ACCESSWIRE / July 30, 2021 / The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Piedmont Lithium Inc. ('Piedmont' or 'the Company') (NASDAQ:PLL) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between March 16, 2018 and July 19, 2021, inclusive (the ''Class Period''), are encouraged to contact the firm before September 21, 2021.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Piedmont would not follow the steps or timeline to secure all necessary permits from governmental agencies. The Company failed to inform appropriate governmental agencies and authorities of its planned activities. The Company failed to file applications with relevant authorities including the state and local governments. Despite its claims, the Company did not have 'strong local government support.' Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Piedmont, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
info@schallfirm.com
SOURCE: The Schall Law Firm
View source version on accesswire.com:
https://www.accesswire.com/657806/SHAREHOLDER-ACTION-ALERT-The-Schall-Law-Firm-Reminds-Investors-of-a-Class-Action-Lawsuit-Against-Piedmont-Lithium-Inc-and-Encourages-Investors-with-Losses-in-Excess-of-100000-to-Contact-the-Firm
Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In Piedmont To Contact Him Directly To Discuss Their Options
New York, New York–(Newsfile Corp. – July 29, 2021) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Piedmont Lithium Inc. ("Piedmont" or the "Company") (NASDAQ: PLL) and reminds investors of the September 21, 2021 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you suffered losses exceeding $50,000 investing in Piedmont stock or options between March 16, 2018 and July 19, 2021 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/PLL.
There is no cost or obligation to you.
Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Delaware, Pennsylvania, California and Georgia.
As detailed below, the lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Piedmont has not, and would not, follow its stated steps or timeline to secure all proper and necessary permits; (2) Piedmont failed to inform relevant people and governmental authorities of its actual plans; (3) Piedmont failed to file proper applications with relevant governmental authorities (including state and local authorities); (4) Piedmont and its lithium business does not have "strong local government support"; and (5) as a result, Defendants' public statements were materially false and/or misleading at all relevant times.
Specifically, on July 20, 2021, before market hours, Reuters published an article entitled "In push to supply Tesla, Piedmont Lithium irks North Carolina neighbors" which, among other things, reported various regulatory issues regarding the Company's prospective mining operations in North Carolina.
On this news, Piedmont shares fell $12.56 per share over the trading day, or nearly 20%, to close at $50.52 per share on July 20, 2021, damaging investors.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Piedmont's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91658
New York, New York–(Newsfile Corp. – July 30, 2021) – The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Piedmont Lithium Inc. ("Piedmont") (NASDAQ: PLL) between March 16, 2018 and July 19, 2021. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Eastern District of New York. To get more information go to:
https://www.zlk.com/pslra-1/piedmont-lithium-inc-loss-submission-form?prid=18125&wire=5
or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500. There is no cost or obligation to you.
Piedmont Lithium Inc. NEWS – PLL NEWS
CASE DETAILS: According to the filed complaint: (1) Piedmont has not, and would not, follow its stated steps or timeline to secure all proper and necessary permits; (2) Piedmont failed to inform relevant people and governmental authorities of its actual plans; (3) Piedmont failed to file proper applications with relevant governmental authorities (including state and local authorities); (4) Piedmont and its lithium business does not have "strong local government support"; and (5) as a result, Defendants' public statements were materially false and/or misleading at all relevant times.
WHAT THIS MEANS TO SHAREHOLDERS: If you suffered a loss in Piedmont, you have until September 21, 2021 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased Piedmont securities between March 16, 2018 and July 19, 2021, you may be entitled to compensation without payment of any out-of-pocket costs or fees.
PROTECT YOUR FINANCIAL INTERESTS: Complete this brief submission form https://www.zlk.com/pslra-1/piedmont-lithium-inc-loss-submission-form?prid=18125&wire=5 or call 212-363-7500 to discuss the case with Joseph E. Levi, Esq.
WHY LEVI & KORSINSKY: Levi & Korsinsky have a proven track record of winning cases worth hundreds of millions of dollars for shareholders over a 20-year period. We represent and fight for shareholders who have been wronged by corporations.
Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington, D.C. The Firm's Founding Partners, Joseph Levi and Eduard Korsinsky, have been representing shareholders and institutional clients for almost 20 years and have achieved remarkable results for clients in the U.S. and internationally. The firm, with more than 80 employees, is committed to fostering, cultivating and preserving a culture of diversity, equity and inclusion for employees and those that we represent. Our attorneys have extensive expertise representing investors in securities litigation with a track record of recovering hundreds of millions of dollars in cases. Levi & Korsinsky was ranked in Institutional Shareholder Services' ("ISS") SCAS Top 50 Report for 7 years in a row as a top securities litigation firm in the United States. The SCAS Top 50 Report identifies the top plaintiffs' securities law firms in the country, and year after year, ISS has recognized Levi & Korsinsky as a leading firm in the area of securities class action litigation.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91754
In the latest trading session, Lithium Americas Corp. (LAC) closed at $14.61, marking a -0.81% move from the previous day. This change lagged the S&P 500's 0.54% loss on the day.
Prior to today's trading, shares of the metals and mining company had lost 0.2% over the past month. This has lagged the Basic Materials sector's gain of 6.75% and the S&P 500's gain of 3.05% in that time.
LAC will be looking to display strength as it nears its next earnings release. On that day, LAC is projected to report earnings of -$0.10 per share, which would represent a year-over-year decline of 66.67%.
It is also important to note the recent changes to analyst estimates for LAC. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. LAC is currently a Zacks Rank #3 (Hold).
The Chemical – Diversified industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 88, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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New York, New York–(Newsfile Corp. – July 30, 2021) – WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Piedmont Lithium Inc. f/k/a/ Piedmont Lithium Limited (NASDAQ: PLL) (NASDAQ: PLLL) between March 16, 2018 and July 19, 2021, inclusive (the "Class Period"), of the important September 21, 2021 lead plaintiff deadline.
SO WHAT: If you purchased Piedmont securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the Piedmont class action, go to http://www.rosenlegal.com/cases-register-2124.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than September 21, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.
DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Piedmont has not, and would not, follow its stated steps or timeline to secure all proper and necessary permits; (2) Piedmont failed to inform relevant people and governmental authorities of its actual plans; (3) Piedmont failed to file proper applications with relevant governmental authorities (including state and local authorities); (4) Piedmont, and its lithium business, does not have "strong local government support"; and (5) as a result, defendants' public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
To join the Piedmont class action, go to http://www.rosenlegal.com/cases-register-2124.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.
Attorney Advertising. Prior results do not guarantee a similar outcome.
——————————-
Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91726.
Let's talk about the popular FMC Corporation (NYSE:FMC). The company's shares received a lot of attention from a substantial price movement on the NYSE over the last few months, increasing to US$122 at one point, and dropping to the lows of US$103. Some share price movements can give investors a better opportunity to enter into the stock, and potentially buy at a lower price. A question to answer is whether FMC's current trading price of US$107 reflective of the actual value of the large-cap? Or is it currently undervalued, providing us with the opportunity to buy? Let’s take a look at FMC’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change.
View our latest analysis for FMC
Is FMC still cheap?
Great news for investors – FMC is still trading at a fairly cheap price. According to my valuation, the intrinsic value for the stock is $166.56, but it is currently trading at US$107 on the share market, meaning that there is still an opportunity to buy now. What’s more interesting is that, FMC’s share price is theoretically quite stable, which could mean two things: firstly, it may take the share price a while to move to its intrinsic value, and secondly, there may be less chances to buy low in the future once it reaches that value. This is because the stock is less volatile than the wider market given its low beta.
What kind of growth will FMC generate?
Future outlook is an important aspect when you’re looking at buying a stock, especially if you are an investor looking for growth in your portfolio. Although value investors would argue that it’s the intrinsic value relative to the price that matter the most, a more compelling investment thesis would be high growth potential at a cheap price. With profit expected to grow by 91% over the next couple of years, the future seems bright for FMC. It looks like higher cash flow is on the cards for the stock, which should feed into a higher share valuation.
What this means for you:
Are you a shareholder? Since FMC is currently undervalued, it may be a great time to accumulate more of your holdings in the stock. With a positive outlook on the horizon, it seems like this growth has not yet been fully factored into the share price. However, there are also other factors such as financial health to consider, which could explain the current undervaluation.
Are you a potential investor? If you’ve been keeping an eye on FMC for a while, now might be the time to make a leap. Its buoyant future outlook isn’t fully reflected in the current share price yet, which means it’s not too late to buy FMC. But before you make any investment decisions, consider other factors such as the track record of its management team, in order to make a well-informed investment decision.
Keep in mind, when it comes to analysing a stock it's worth noting the risks involved. When we did our research, we found 2 warning signs for FMC (1 is a bit concerning!) that we believe deserve your full attention.
If you are no longer interested in FMC, you can use our free platform to see our list of over 50 other stocks with a high growth potential.
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.
Albemarle (ALB) shares ended the last trading session 4.3% higher at $202.82. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 15.5% gain over the past four weeks.
Optimism over favorable trends in the lithium business and strength in the bromine unit are driving the stock higher. The company is benefiting from an uptick in lithium prices and higher volumes. Its bromine business is also gaining from higher demand on continued recovery in global economic activities, a rebound in certain end markets and cost-saving actions.
This specialty chemicals company is expected to post quarterly earnings of $0.83 per share in its upcoming report, which represents a year-over-year change of -3.5%. Revenues are expected to be $787.08 million, up 3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Albemarle, the consensus EPS estimate for the quarter has been revised 2% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on ALB going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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THUNDER BAY, ON / ACCESSWIRE / July 30, 2021 / GREAT ATLANTIC RESOURCES CORP. (TSXV:GR) (the "Company" or "Great Atlantic"), is pleased to announce the closing of its previously announced non-brokered private placement offering (the "Private Placement") for aggregate gross proceeds of $1,450,000 in units of the Company (the "Units") at a price of $0.50 per Unit. Mr. Eric Sprott, through 2176423 Ontario Ltd., a corporation which is beneficially owned by him, subscribed for the entirety of the Private Placement.
Each Unit shall be comprised of one common share of the Company (a "Common Share") and one common share purchase warrant of the Company (a "Warrant"). Each Warrant shall entitle the holder thereof to purchase one Common (a "Warrant Share") at an exercise price equal to $0.75 at any time up to 36 months from closing of the Private Placement.
The Company intends to use the gross proceeds from the sale of Units for drilling and exploration on the Golden Promise Gold Properties, located in the central Newfoundland gold belt and general working capital.
The Common Shares and the Warrant Shares to be issued under the Offering have a hold period of four months and one day from closing of the Offering, November 28, 2021.
Eric Sprott, through 2176423 Ontario Ltd., a corporation that is beneficially owned by him, acquired 2,900,000 units under the offering for approximate consideration of $1,450,000. Subsequent to the closing of the offering, Mr. Sprott beneficially owns or controls 4,900,000 common shares of the Company and 4,900,000 warrants, representing approximately 19.9% of the issued and outstanding common shares of the company on a non-diluted basis and approximately 33.2% of the issued and outstanding common shares of the company on a partially diluted basis assuming exercise of all the warrants owned and controlled, including warrants acquired hereunder and forming part of the units. Prior to the offering, Mr. Sprott beneficially owned or controlled 2,000,000 common shares and 2,000,000 warrants of the Company.
The units were acquired by Mr. Sprott for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities of Great Atlantic Resources, including on the open market or through private acquisitions, or sell securities of the company, including on the open market or through private dispositions in the future, depending on market conditions, reformulation of plans and/or other factors that Mr. Sprott considers relevant from time to time.
A copy of Mr. Sprott's early warning report will appear on Great Atlantic's profile on SEDAR and may also be obtained by calling Mr. Sprott's office at 416-945-3294 (200 Bay St., Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ont., M5J 2J1).
In connection with the Private Placement, the Company paid a finder's fee in cash and finder's warrants in accordance with the policies of the TSX Venture Exchange.
On Behalf of the board of directors
"Christopher R Anderson"
Mr. Christopher R. Anderson
"Always be positive, strive for solutions, and never give up"
President CEO Director
604-488-3900 – Dir
Investor Relations:
Please call 604-488-3900
About Great Atlantic Resources Corp.: Great Atlantic Resources Corp. is a Canadian exploration company focused on the discovery and development of mineral assets in the resource-rich and sovereign risk-free realm of Atlantic Canada, one of the number one mining regions of the world. Great Atlantic is currently surging forward building the company utilizing a Project Generation model, with a special focus on the most critical elements on the planet that are prominent in Atlantic Canada, Antimony, Tungsten and Gold.
Forward-looking statements: This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company 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 forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.
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.
Great Atlantic Resource Corp.
888 Dunsmuir Street – Suite 888, Vancouver, B.C., V6C 3K4
SOURCE: Great Atlantic Resources Corp.
View source version on accesswire.com:
https://www.accesswire.com/657842/Great-Atlantic-Announces-Closing-of-145-Million-Private-Placement-by-Mr-Eric-Sprott
In this article we will check out the progression of hedge fund sentiment towards Sociedad Quimica y Minera (NYSE:SQM) and determine whether it is a good investment right now. We at Insider Monkey like to examine what billionaires and hedge funds think of a company before spending days of research on it. Given their 2 and 20 payment structure, hedge funds have more incentives and resources than the average investor. The funds have access to expert networks and get tips from industry insiders. They also employ numerous Ivy League graduates and MBAs. Like everyone else, hedge funds perform miserably at times, but their consensus picks have historically outperformed the market after risk adjustments.
Sociedad Quimica y Minera (NYSE:SQM) investors should be aware of an increase in enthusiasm from smart money recently. Sociedad Quimica y Minera (NYSE:SQM) was in 16 hedge funds' portfolios at the end of the first quarter of 2021. The all time high for this statistic is 20. There were 14 hedge funds in our database with SQM positions at the end of the fourth quarter. Our calculations also showed that SQM isn't among the 30 most popular stocks among hedge funds (click for Q1 rankings).
Why do we pay any attention at all to hedge fund sentiment? Our research has shown that a select group of hedge fund holdings outperformed the S&P 500 ETFs by 115 percentage points since March 2017 (see the details here). That's why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to.
Anna Nikolayevsky of Axel Capital
At Insider Monkey, we scour multiple sources to uncover the next great investment idea. For example, pet market is growing at a 7% annual rate and is expected to reach $110 billion in 2021. So, we are checking out the 5 best stocks for animal lovers. We go through lists like the 15 best Jim Cramer stocks to identify the next Tesla that will deliver outsized returns. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our homepage. With all of this in mind we're going to take a gander at the latest hedge fund action surrounding Sociedad Quimica y Minera (NYSE:SQM).
Do Hedge Funds Think SQM Is A Good Stock To Buy Now?
At first quarter's end, a total of 16 of the hedge funds tracked by Insider Monkey were long this stock, a change of 14% from the fourth quarter of 2020. Below, you can check out the change in hedge fund sentiment towards SQM over the last 23 quarters. So, let's examine which hedge funds were among the top holders of the stock and which hedge funds were making big moves.
According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Citadel Investment Group, managed by Ken Griffin, holds the most valuable position in Sociedad Quimica y Minera (NYSE:SQM). Citadel Investment Group has a $38.1 million position in the stock, comprising less than 0.1%% of its 13F portfolio. The second most bullish fund manager is Paul Marshall and Ian Wace of Marshall Wace LLP, with a $17.2 million position; the fund has 0.1% of its 13F portfolio invested in the stock. Some other members of the smart money that hold long positions include Anna Nikolayevsky's Axel Capital Management, MacKenzie B. Davis and Kenneth L. Settles Jr's SailingStone Capital Partners and Renaissance Technologies. In terms of the portfolio weights assigned to each position Axel Capital Management allocated the biggest weight to Sociedad Quimica y Minera (NYSE:SQM), around 6.87% of its 13F portfolio. SailingStone Capital Partners is also relatively very bullish on the stock, dishing out 3.24 percent of its 13F equity portfolio to SQM.
With a general bullishness amongst the heavyweights, key hedge funds were breaking ground themselves. Renaissance Technologies, created the biggest position in Sociedad Quimica y Minera (NYSE:SQM). Renaissance Technologies had $12.4 million invested in the company at the end of the quarter. Phill Gross and Robert Atchinson's Adage Capital Management also initiated a $10.6 million position during the quarter. The other funds with new positions in the stock are Michael Cowley's Sandbar Asset Management, Paul Marshall and Ian Wace's Marshall Wace LLP, and Ryan Tolkin (CIO)'s Schonfeld Strategic Advisors.
Let's now review hedge fund activity in other stocks similar to Sociedad Quimica y Minera (NYSE:SQM). We will take a look at Howmet Aerospace Inc. (NYSE:HWM), Elanco Animal Health Incorporated (NYSE:ELAN), Pool Corporation (NASDAQ:POOL), PulteGroup, Inc. (NYSE:PHM), The J.M. Smucker Company (NYSE:SJM), Whirlpool Corporation (NYSE:WHR), and Tata Motors Limited (NYSE:TTM). This group of stocks' market valuations resemble SQM's market valuation.
[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position HWM,51,3959776,2 ELAN,42,1710158,-1 POOL,41,1014649,8 PHM,42,1050252,2 SJM,33,689844,-1 WHR,28,1255044,-4 TTM,8,67734,1 Average,35,1392494,1 [/table]
View table here if you experience formatting issues.
As you can see these stocks had an average of 35 hedge funds with bullish positions and the average amount invested in these stocks was $1392 million. That figure was $142 million in SQM's case. Howmet Aerospace Inc. (NYSE:HWM) is the most popular stock in this table. On the other hand Tata Motors Limited (NYSE:TTM) is the least popular one with only 8 bullish hedge fund positions. Sociedad Quimica y Minera (NYSE:SQM) is not the least popular stock in this group but hedge fund interest is still below average. Our overall hedge fund sentiment score for SQM is 40.3. Stocks with higher number of hedge fund positions relative to other stocks as well as relative to their historical range receive a higher sentiment score. This is a slightly negative signal and we'd rather spend our time researching stocks that hedge funds are piling on. Our calculations showed that top 5 most popular stocks among hedge funds returned 95.8% in 2019 and 2020, and outperformed the S&P 500 ETF (SPY) by 40 percentage points. These stocks gained 28.5% in 2021 through July 23rd and surpassed the market again by 10.1 percentage points. Unfortunately SQM wasn't nearly as popular as these 5 stocks (hedge fund sentiment was quite bearish); SQM investors were disappointed as the stock returned -10.3% since the end of March (through 7/23) and underperformed the market. If you are interested in investing in large cap stocks with huge upside potential, you should check out the top 5 most popular stocks among hedge funds as most of these stocks already outperformed the market in 2021.
Get real-time email alerts: Follow Chemical & Mining Co Of Chile Inc (NYSE:SQM)
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Disclosure: None. This article was originally published at Insider Monkey.
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By Ernest Scheyder
(Reuters) – Two Native American tribes have formally asked a U.S. federal court to prevent Lithium Americas Corp from excavating its Thacker Pass lithium mine site in Nevada, which they say contains their ancestors' bones and should not be disturbed.
The Reno-Sparks Indian Colony and Atsa koodakuh wyh Nuwu/People of Red Mountain filed their preliminary injunction request late Thursday, a filing that had been expected. The tribes say federal regulators did not adequately consult with them before approving the project in January.
The project would become one of the largest U.S. producers of the electric vehicle battery metal. First, though, Lithium Americas needs to conduct archaeological digging at the site in order to catalog historical artifacts. It has not yet obtained necessary permits from federal officials to do so.
The tribes' injunction request essentially asks the court to prevent that archaeological digging even if the company obtains those permits.
"The excavators and shovels could harm the very human remains the archaeologists would be looking for," the tribes said in the filing.
Chief Judge Miranda Du of the U.S. District Court for Nevada asked for responses from Lithium Americas and the U.S. Bureau of Land Management – which manages the federal land atop the lithium deposit – by August 12.
Vancouver-based Lithium Americas and the BLM declined to comment on the filing.
Du denied a similar injunction request last week from environmentalists who argued the project could harm wildlife. Earlier this week, though, the judge allowed the tribes to join the lawsuit to argue their concerns the project could harm historical sites.
Beyond the injunction requests, Du is considering whether former President Donald Trump's administration erred when it approved the entire project in January. That ruling is expected by early 2022.
(Reporting by Ernest Scheyder; Editing by David Gregorio)
NEW YORK, July 28, 2021 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Piedmont Lithium Inc. ("Piedmont" or the "Company") (NASDAQ: PLL). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether Piedmont and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
In 2020, Piedmont signed a deal to supply Tesla Inc. with lithium sourced from its deposits in North Carolina. Then, on July 20, 2021, Reuters reported that Piedmont "has not applied for a state mining permit or a necessary zoning variance in Gaston County, just west of Charlotte, despite telling investors since 2018 that it was on the verge of doing so." Reuters further reported that "[f]ive of the seven members of the county's board of commissioners, who control zoning changes, say they may block or delay the project because Piedmont has not told them what levels of dust, noise and vibrations will occur, nor how water and air quality would be affected."
On this news, Piedmont's stock price fell $12.56 per share, or 19.91%, to close at $50.52 per share on July 20, 2021.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
View original content to download multimedia:https://www.prnewswire.com/news-releases/shareholder-alert-pomerantz-law-firm-investigates-claims-on-behalf-of-investors-of-piedmont-lithium-inc—pll-301343738.html
SOURCE Pomerantz LLP
New York, New York–(Newsfile Corp. – July 29, 2021) – The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Piedmont Lithium Inc. (NASDAQ: PLL) alleging that the Company violated federal securities laws.
Class Period: March 16, 2018 and July 19, 2021
Lead Plaintiff Deadline: September 21, 2021
No obligation or cost to you.
Learn more about your recoverable losses in PLL:
https://www.kleinstocklaw.com/pslra-1/piedmont-lithium-inc-loss-submission-form?id=18093&from=5
Piedmont Lithium Inc. NEWS – PLL NEWS
CLASS ACTION CASE DETAILS: The filed complaint alleges that Piedmont Lithium Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) Piedmont has not, and would not, follow its stated steps or timeline to secure all proper and necessary permits; (2) Piedmont failed to inform relevant people and governmental authorities of its actual plans; (3) Piedmont failed to file proper applications with relevant governmental authorities (including state and local authorities); (4) Piedmont and its lithium business does not have "strong local government support"; and (5) as a result, Defendants' public statements were materially false and/or misleading at all relevant times.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in Piedmont you have until September 21, 2021 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased Piedmont securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the PLL lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link.
ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
Fax: (347) 558-9665
www.kleinstocklaw.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91612
New York, New York–(Newsfile Corp. – July 29, 2021) – The Law Offices of Vincent Wong announce that a class action lawsuit has commenced in the on behalf of investors who purchased Piedmont Lithium Inc. ("Piedmont") (NASDAQ: PLL) between March 16, 2018 and July 19, 2021.
If you suffered a loss, contact us at the link below. There is no cost or obligation to you.
https://www.wongesq.com/pslra-1/piedmont-lithium-inc-loss-submission-form?prid=18102&wire=5
Allegations against PLL include that the Company made materially false and/or misleading statements and/or failed to disclose that: (1) Piedmont has not, and would not, follow its stated steps or timeline to secure all proper and necessary permits; (2) Piedmont failed to inform relevant people and governmental authorities of its actual plans; (3) Piedmont failed to file proper applications with relevant governmental authorities (including state and local authorities); (4) Piedmont and its lithium business does not have "strong local government support"; and (5) as a result, Defendants' public statements were materially false and/or misleading at all relevant times.
If you suffered a loss in Piedmont you have until September 21, 2021 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
Fax. 866.699.3880
E-Mail: vw@wongesq.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91637
LOS ANGELES, July 29, 2021–(BUSINESS WIRE)–Glancy Prongay & Murray LLP ("GPM") reminds investors of the upcoming September 21, 2021 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Piedmont Lithium Inc. f/k/a Piedmont Lithium Limited ("Piedmont" or the "Company") (NASDAQ: PLL ,PLLL) securities between March 16, 2018 and July 19, 2021 inclusive (the "Class Period").
If you suffered a loss on your Piedmont investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https://www.glancylaw.com/cases/piedmont-lithium-inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.
On July 20, 2021, before market hours, Reuters reported that Piedmont "has not applied for a state mining permit or a necessary zoning variance in Gaston County, just west of Charlotte, despite telling investors since 2018 that it was on the verge of doing so." According to the article, a majority of the board of commissioners said, "they may block or delay the project because Piedmont has not told them what levels of dust, noise and vibrations will occur, nor how water and air quality would be affected."
On this news, the Company’s stock price fell $12.56, or nearly 20%, to close at $50.52 per share on July 20, 2021, thereby injuring investors.
The complaint filed alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Piedmont has not, and would not, follow its stated steps or timeline to secure all proper and necessary permits; (2) Piedmont failed to inform relevant people and governmental authorities of its actual plans; (3) Piedmont failed to file proper applications with relevant governmental authorities (including state and local authorities); (4) Piedmont and its lithium business does not have strong local government support; and (5) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Follow us for updates on LinkedIn, Twitter, or Facebook.
If you purchased or otherwise acquired Piedmont securities during the Class Period, you may move the Court no later than September 21, 2021 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210729005260/en/
Contacts
Glancy Prongay & Murray LLP, Los Angeles
Charles Linehan, 310-201-9150 or 888-773-9224
shareholders@glancylaw.com
www.glancylaw.com
NEW YORK, July 28, 2021 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of AcelRx Pharmaceuticals, Inc. (NASDAQ: ACRX), Rocket Companies, Inc. (NYSE: RKT), 360 DigiTech, Inc. (NASDAQ: QFIN), and Piedmont Lithium Inc. (NASDAQ: PLL). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
AcelRx Pharmaceuticals, Inc. (NASDAQ: ACRX)
Class Period: March 17, 2020 to February 12, 2021
Lead Plaintiff Deadline: August 9, 2021
AcelRx is a specialty pharmaceutical company that focuses on the development and commercialization of therapies for the treatment of acute pain. The Company's lead product candidate is DSUVIA, a 30 mcg sufentanil sublingual tablet for the treatment of moderate-to-severe acute pain.
On November 2, 2018, AcelRx announced that the U.S. Food and Drug Administration (“FDA”) had approved DSUVIA for the management of acute pain in adults that is severe enough to require an opioid analgesic in certified medically supervised healthcare settings, such as hospitals, surgical centers, and emergency departments.
On February 16, 2021, AcelRx disclosed that, on February 11, 2021, the Company received a warning letter from the FDA concerning promotional claims for DSUVIA. Specifically, having “reviewed an ‘SDS Banner Ad’ (banner) (PM-US-DSV-0018) and a tabletop display (PM-US-DSV-0049) (display),” the FDA concluded that "[t]he promotional communications, the banner and display, make false or misleading claims and representations about the risks and efficacy of DSUVIA,” and “[t]hus . . . misbrand Dsuvia within the meaning of the Federal Food, Drug and Cosmetic Act (FD&C Act) and make its distribution violative.” The warning letter “request[ed] that AcelRx cease any violations of the FD&C Act” and "submit a written response to th[e] letter within 15 days from the date of receipt."
On this news, AcelRx’s stock price fell $0.21 per share, or 8.37%, to close at $2.30 per share on February 16, 2021.
The complaint alleges that, throughout the Class Period, defendants made materially false and misleading statements regarding the Company's business, operations, and compliance policies. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (i) AcelRx had deficient disclosure controls and procedures with respect to its marketing of DSUVIA; (ii) as a result, AcelRx had been making false or misleading claims and representations about the risks and efficacy of DSUVIA in certain advertisements and displays; (iii) the foregoing conduct subjected the Company to increased regulatory scrutiny and enforcement; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.
For more information on the AcelRx class action go to: https://bespc.com/cases/ACRX
Rocket Companies, Inc. (NYSE: RKT)
Class Period: February 25, 2021 to May 5, 2021
Lead Plaintiff Deadline: August 30, 2021
On May 5, 2021, Rocket Companies reported that it was on track to achieve closed loan volume within a range of only $82.5 billion and $87.5 billion and gain on sale margins within a range of only 2.65% to 2.95% for the second quarter of 2021. At the mid-point, this gain on sale margin estimate equated to a 239 basis point decline year-over-year and a 94 basis point decline sequentially, which represented Rocket Companies’ lowest quarterly gain on sale margin in two years. The stunning collapse in Rocket Companies’ gain on sale margin reflected the fact that the favorable market conditions purportedly being experienced by Rocket Companies during the Class Period had in fact reversed. During a conference call to explain the results, Rocket Companies’ Chief Financial Officer and Treasurer, defendant Julie R. Booth, revealed that the sharp decline in quarterly gain on sale margin was being caused by three factors: (i) pressure on loan pricing; (ii) a product mix shift to Rocket Companies’ lower margin Partner Network segment; and (iii) a compression in price spreads between the primary and secondary mortgage markets. Defendant Booth also admitted that certain of these trends began “at the end of Q1.”
On this news, the price of Rocket Companies Class A common stock fell by nearly 17% to close at $19.01 per share.
As the market continued to digest the news in the days that followed, the price of Rocket Companies Class A common stock continued to decline, falling to a low of just $16.48 per share by May 11, 2021.
The Rocket Companies class action lawsuit alleges that, throughout the Class Period, defendants made false and misleading statements and failed to disclose that: (i) Rocket Companies’ gain on sale margins were contracting at the highest rate in two years as a result of increased competition among mortgage lenders, an unfavorable shift toward the lower margin Partner Network operating segment and compression in the price spread between the primary and secondary mortgage markets; (ii) Rocket Companies was engaged in a price war and battle for market share with its primary competitors in the wholesale market, which was further compressing margins in Rocket Companies’ Partner Network operating segment; (iii) the adverse trends identified above were accelerating and, as a result, Rocket Companies’ gain on sale margins were on track to plummet at least 140 basis points in the first six months of 2021; (iv) as a result, the favorable market conditions that had preceded the Class Period and allowed Rocket Companies to achieve historically high gain on sale margins had vanished as Rocket Companies’ gain on sale margins had returned to levels not seen since the first quarter of 2019; (v) rather than remaining elevated due to surging demand, Rocket Companies’ company-wide gain-on-sale margins had fallen materially below pre-pandemic averages; and (vi) consequently, defendants’ positive statements about Rocket Companies’ business operations and prospects were materially misleading and/or lacked a reasonable basis.
For more information on the Rocket class action go to: https://bespc.com/cases/RKT
360 DigiTech, Inc. (NASDAQ: QFIN)
Class Period: April 30, 2020 and July 7, 2021
Lead Plaintiff Deadline: September 13, 2021
On July 8, 2021, reports circulated on social media to the effect that the Company's core product, the 360 IOU app, had been removed from major app stores. The reports came on the heels of the removal of other companies' apps as Chinese regulators investigated their customer data protection practices.
On this news, 360 DigiTech’s stock price fell $7.12 per share, or 21.48%, to close at $26.02 per share on July 8, 2021.
On July 9, 2021, Seeking Alpha reported that 360 DigiTech confirmed the removal of its 360 IOU app from the Android app store and quoted a Company spokesperson, who disclosed that the Company had “submitted a new rectification plan and stepped up the whole process.”
The complaint alleges that throughout the Class Period, defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company had been collecting personal information in violation of relevant People’s Republic of China laws and regulations; (ii) accordingly, 360 DigiTech was exposed to an increased risk of regulatory scrutiny and/or enforcement action; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times.
For more information on the 360 DigiTech class action go to: https://bespc.com/cases/QFIN
Piedmont Lithium Inc. (NASDAQ: PLL)
Class Period: March 16, 2018 and July 19, 2021
Lead Plaintiff Deadline: September 21, 2021
On July 20, 2021, before market hours, Reuters published an article entitled “In push to supply Tesla, Piedmont Lithium irks North Carolina neighbors.” Among other things, the article reported that “[t]he company […] has not applied for a state mining permit or a necessary zoning variance in Gaston County, just west of Charlotte, despite telling investors since 2018 that it was on the verge of doing so.” The article went on to report that “[f]ive of the seven members of the county’s board of commissioners, who control zoning changes, say they may block or delay the project[.]”
On this news, Piedmont shares fell $12.56 per share over the trading day, or nearly 20%, to close at $50.52 per share on July 20, 2021.
The complaint alleges that, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (i) Piedmont has not, and would not, follow its stated steps or timeline to secure all proper and necessary permits; (ii) Piedmont failed to inform relevant people and governmental authorities of its actual plans; (iii) Piedmont failed to file proper applications with relevant governmental authorities (including state and local authorities); (iv) Piedmont and its lithium business does not have “strong governmental support”; and (v) as a result, defendants' public statements were materially false and/or misleading at all relevant times.
For more information on the Piedmont Lithium class action go to: https://bespc.com/cases/PLL
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
Central Newfoundland
VANCOUVER, BC / ACCESSWIRE / July 29, 2021 / GREAT ATLANTIC RESOURCES CORP. (TSXV:GR) (the "Company" or "Great Atlantic") is pleased to announce the addition of Dr Karsten Eden to the technical team, as an exclusive strategic advisor for the purpose of target generation related specifically to the Golden Promise Gold Project In Newfoundland.
"We look forward to working with Dr. Eden as we continue to advance and expand through drilling our current high grade Gold resource, while encompassing the multiple new gold discoveries we have identified with in our land package. Our aspirations are to become a world class deposit similar to our neighbour Marathon Resources MOZ.v located a few kilometers away," states Chris Anderson, CEO Great Atlantic Resources.
About Dr. Karsten Eden
Dr. Karsten Eden has over 25 years diverse international experience in the management of exploration and mine development projects in North America, West Africa, Western Australia, Scandinavia, and Europe. He has a successful track record in exploration targeting and extensive experience in complex exploration data analysis, mineral potential modeling, resource modeling and mineral economics. He holds a doctorate degree in exploration geology from the University of Technology Aachen, Germany and is a Certified Professional Geologist through the American Institute of Professional Geologists and the European Federation of Geologists.
Dr. Eden has held senior management, Chief Geologist, and VP Exploration positions with junior exploration companies as well as with government agencies. He was instrumental in numerous mineral discoveries, including gold, platinum group metals, antimony and industrial heavy minerals.
On Behalf of the board of directors
"Christopher R Anderson"
Mr. Christopher R. Anderson
"Always be positive, strive for solutions, and never give up"
President CEO Director
Investor Relations:
Andrew Job
1-416-628-1560
IR@GreatAtlanticResources.com
Office Line 604-488-3900
About Great Atlantic Resources Corp.: Great Atlantic Resources Corp. is a Canadian exploration company focused on the discovery and development of mineral assets in the resource-rich and sovereign risk-free realm of Atlantic Canada, one of the number one mining regions of the world. Great Atlantic is currently surging forward building the company utilizing a Project Generation model, with a special focus on the most critical elements on the planet that are prominent in Atlantic Canada, Antimony, Tungsten and Gold.
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company 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 forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.
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.
Great Atlantic Resource Corp
888 Dunsmuir Street – Suite 888, Vancouver, B.C., V6C 3K4
SOURCE: Great Atlantic Resources Corp.
View source version on accesswire.com:
https://www.accesswire.com/657514/Great-Atlantic-Welcomes-Dr-Karsten-Eden-Strategic-Advisor-Target-Generation-Golden-Promise-Gold-Project
(Bloomberg) — Anglo American Plc still wants full control of some of its most profitable units, but said it will wait for the right time.
While joint ventures in mining are common, Anglo’s position is more unique in that it’s the majority shareholder in two public South African companies that are also among its best earners.
Anglo owns 79% of Anglo American Platinum Ltd., which reported record first-half profits this week. It also controls Kumba Iron Ore Ltd.. Both companies are listed in Johannesburg.
There has long been speculation that Anglo could look look to take complete control of the businesses. The company’s Chief Executive Officer, Mark Cutifani, said Wednesday the company should remain patient.
“We always look at those sort of minorities,” he said on call with investors and analysts. “If I said those sorts of things remained important opportunities for us, then the answer is yes. It has to be done in the right way, it has to be done at the right time.”
Anglo earlier reported its highest ever interim profit and said it will spend $4.1 billion on dividends and share buybacks as the century-old miner joined its peers in cashing in on surging commodity prices.
More stories like this are available on bloomberg.com
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London-listed companies announced a slew of buybacks and dividends on Thursday, as management teams begin to pass on gains made from the global bounce back from COVID-19.
Interim results season begins in the UK this week and most companies have so far reported strong results, buoyed by the reopening of economies around the world as the COVID-19 pandemic begins to come under control. Firms are now rewarding shareholders for their faith during what was an exceptionally difficult 2020.
FTSE firms announced investor payouts worth more than £7bn on Thursday alone. Notable capital returns include:
-
$4.1bn (£2.9bn) in dividends and buybacks at Anglo American (AAL.L);
-
a £1bn interim dividend at Diageo (DGE.L);
-
a £500m share buyback plan at BAE Systems (BA.L) and dividend worth roughly £290m;
The flurry of payout news helped the FTSE 100 (^FTSE) rise 0.7% on Thursday, despite a rallying pound.
"No one would begrudge investors heading home to pop open a bottle of fizz – it’s just been that kind of a day," said Danni Hewson, a financial analyst at AJ Bell. "A bumper crop of earnings bolstered by news of some hefty dividend pay outs and nothing too challenging emerging from across the Atlantic."
News of the payout blitz comes a day after miner Rio Tinto (RIO.L) announced a record $9.1bn (£6.5bn) dividend. The blockbuster payout – its biggest ever – is worth more than roughly a quarter of FTSE 100 companies.
Barclays (BARC.L), meanwhile, confirmed a £340m dividend payout for investors and announced a £500m share buyback programme on Wednesday.
The return of dividends and buybacks will provide cheer to investors who endured a lean 2020. Last year was the worst for UK dividends in a decade, according to Link Group. Payouts rebounded 50% to £25.7bn in the second quarter, Link said earlier this week.
Watch: What is inheritance tax?
Vancouver, British Columbia and Johannesburg, South Africa–(Newsfile Corp. – July 29, 2021) – Platinum Group Metals Ltd. (TSX: PTM) (NYSE American: PLG) ("Platinum Group" "PTM" or the "Company") announces the resignation of the Company's CEO, President and director, R. Michael Jones, effective immediately. Mr. Jones has agreed to continue as a consultant to Platinum Group until December 31, 2021 to provide transition assistance. Frank Hallam, a director and, most recently, CFO of the Company, has agreed to assume the position of President and CEO on an interim basis.
With Mr. Hallam assuming the role of Interim President and CEO, Greg Blair, CPA, CA, will assume the role of Interim CFO. Mr. Blair has been with the Company for over 11 years and most recently served as Financial Controller. Mimy Fernandez-Maldonado will assume the role of Corporate Secretary also effective immediately.
The Board of Directors of Platinum Group wishes to thank Mr. Jones for his contributions to the Company over the years.
Mr. Hallam has a lengthy history as a senior executive and director with several successful publicly listed mining companies. He co-founded Platinum Group and has worked at the Company for approximately 19 years. He was also a co-founder of MAG Silver Corp. and West Timmins Mining Inc. Mr. Hallam previously served as an auditor in the mining practice of Coopers and Lybrand (now PricewaterhouseCoopers) and is a qualified CPA, CA, and holds a degree in Business Administration. Mr. Hallam commented, "Mike Jones and I have worked together for many years, including on the team that discovered the Company's Waterberg Project. He made a significant contribution to the concepts and genesis of the Waterberg discovery. Looking forward, we will continue with our commitment to the development of this world class asset, and I wish Mike well in his future endeavours."
About Platinum Group Metals Ltd. and Waterberg Project
Platinum Group Metals Ltd. is the operator of the Waterberg Project, a bulk underground palladium and platinum deposit located in South Africa. The Waterberg Project was discovered by Platinum Group and is being jointly developed with Impala Platinum Holdings Ltd., Mnombo Wethu Consultants (Pty) Ltd. ("Mnombo"), Japan Oil, Gas and Metals National Corporation and Hanwa Co. Ltd.
On behalf of the Board of
Platinum Group Metals Ltd.
Frank R. Hallam
Interim CEO and Director
For further information contact:
Kris Begic, VP, Corporate Development
Platinum Group Metals Ltd., Vancouver
Tel: (604) 899-5450 / Toll Free: (866) 899-5450
www.platinumgroupmetals.net
Disclosure
The Toronto Stock Exchange and the NYSE American have not reviewed and do not accept responsibility for the accuracy or adequacy of this news release, which has been prepared by management.
This press release may contain forward-looking information within the meaning of Canadian securities laws and forward-looking statements within the meaning of U.S. securities laws (collectively "forward-looking statements"). Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. Forward-looking statements in this press release include, but are not limited to the Waterberg Project becoming one of the largest and potentially lowest cash cost underground platinum group metals mines globally, financing and mine development of the Waterberg Project, the market for platinum group metals, the potential of platinum group metals in batteries, and Lion Battery Technologies' development of next generation battery technology. Although the Company believes any forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors. The Company directs readers to the risk factors described in the Company's Form 20-F annual report, annual information form and other filings with the Securities and Exchange Commission and Canadian securities regulators, which may be viewed at www.sec.gov and www.sedar.com, respectively.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91606
NEW YORK, NY / ACCESSWIRE / July 28, 2021 / Jakubowitz Law announces that securities fraud class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies who purchased shares within the class periods listed below. Shareholders interested in representing the class of wronged shareholders have until the lead plaintiff deadline to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. For more details and to speak with our firm without cost or obligation, follow the links below.
Ocugen, Inc. (NASDAQ:OCGN)
CONTACT JAKUBOWITZ ABOUT OCGN:
https://claimyourloss.com/securities/ocugen-inc-loss-submission-form/?id=18073&from=1
Class Period : February 2, 2021 – June 10, 2021
Lead Plaintiff Deadline : August 17, 2021
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) the information submitted to the U.S. Food and Drug Administration ("FDA") was insufficient to support an Emergency Use Authorization ("EUA"), (ii) Ocugen would not file an EUA with the FDA, (iii) as a result of the foregoing, the Company's financial statements, as well as Defendants' statements about Ocugen's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
Bluecity Holdings Limited (NASDAQ:BLCT)
CONTACT JAKUBOWITZ ABOUT BLCT:
https://claimyourloss.com/securities/bluecity-holdings-limited-loss-submission-form/?id=18073&from=1
This lawsuit is on behalf of all persons and entities, other than Defendants, who purchased or otherwise acquired BlueCity American Depositary Shares pursuant and/or traceable to the Offering Documents issued in connection with the Company's initial public offering conducted on or about July 8, 2020.
Lead Plaintiff Deadline : September 17, 2021
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Defendants had overstated BlueCity's business and financial prospects; (2) the Company was ill-equipped to absorb the costs of becoming a publicly traded company, including IPO- and growth-related costs; (3) as a result of all the foregoing, Defendants had misrepresented the Company's capability for sustainable growth; and (4) as a result, the Offering Documents were materially false or misleading and/or failed to state information required to be stated therein.
Piedmont Lithium Inc. (NASDAQ:PLL)
CONTACT JAKUBOWITZ ABOUT PLL:
https://claimyourloss.com/securities/piedmont-lithium-inc-loss-submission-form/?id=18073&from=1
Class Period : March 16, 2018 – July 19, 2021
Lead Plaintiff Deadline : September 21, 2021
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Piedmont has not, and would not, follow its stated steps or timeline to secure all proper and necessary permits; (2) Piedmont failed to inform relevant people and governmental authorities of its actual plans; (3) Piedmont failed to file proper applications with relevant governmental authorities (including state and local authorities); (4) Piedmont and its lithium business does not have "strong local government support"; and (5) as a result, Defendants' public statements were materially false and/or misleading at all relevant times.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
SOURCE: Jakubowitz Law
View source version on accesswire.com:
https://www.accesswire.com/657555/LAWSUITS-FILED-AGAINST-OCGN-BLCT-and-PLL–Jakubowitz-Law-Pursues-Shareholders-Claims
(Adds statement from Lithium Americas)
By Ernest Scheyder
July 28 (Reuters) – A U.S. federal judge ruled on Wednesday that Native American tribes may join a lawsuit seeking to block Lithium Americas Corp's proposed Thacker Pass mine in Nevada, the latest attempt to halt development of what could become one of the largest U.S. producers of the electric vehicle battery metal.
Four environmental groups sued to block the mining project earlier this year, arguing it could harm sage grouse and other wildlife. But those groups did not focus their arguments on potential harm to Native American sites.
Given that, Chief Judge Miranda Du of the U.S. District Court for Nevada said the Reno-Sparks Indian Colony and Atsa koodakuh wyh Nuwu/People of Red Mountain may join the lawsuit as plaintiffs to argue their belief the project would damage religious and historical sites. The judge said adding new plaintiffs should not affect the case's timeline.
"This case is still in its early stages," Du said in the nine-page ruling.
Environmentalists lost the case's first battle last week when Du denied their request to block minor archaeological digging while she considers the broader question of whether former President Donald Trump's administration erred when it approved the entire project in January.
The tribes on Thursday plan to effectively make the same request as the environmentalists, but focus their argument on the perceived threat to a site they say holds bones of their ancestors and should not be disturbed.
Regardless, no digging can take place until the U.S. Bureau of Land Management issues an Archeological Resources Protection Act permit. The agency told Reuters it has no timeline to issue the permit, but does not expect to do so before at least the second week of August.
Lithium Americas said it was pleased the judge decided not to alter the case's original timeline.
"We are committed to ensuring that the required historic preservation work is carried out appropriately and respectfully," spokesperson Tim Crowley said. (Reporting by Ernest Scheyder; Editing by Leslie Adler)
VANCOUVER, BC, July 29, 2021 /CNW/ – Trading resumes in:
Company: Lomiko Metals Inc.
TSX-Venture Symbol: LMR
All Issues: Yes
Resumption (ET): 9:30 AM 07/30/2021
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/July2021/29/c0909.html
NEW YORK, July 29, 2021 /PRNewswire/ —
WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Piedmont Lithium Inc. f/k/a/ Piedmont Lithium Limited (NASDAQ: PLL) (NASDAQ: PLLL) between March 16, 2018 and July 19, 2021, inclusive (the "Class Period"), of the important September 21, 2021 lead plaintiff deadline.
SO WHAT: If you purchased Piedmont securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the Piedmont class action, go to http://www.rosenlegal.com/cases-register-2124.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than September 21, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.
DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Piedmont has not, and would not, follow its stated steps or timeline to secure all proper and necessary permits; (2) Piedmont failed to inform relevant people and governmental authorities of its actual plans; (3) Piedmont failed to file proper applications with relevant governmental authorities (including state and local authorities); (4) Piedmont, and its lithium business, does not have "strong local government support"; and (5) as a result, defendants' public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
To join the Piedmont class action, go to http://www.rosenlegal.com/cases-register-2124.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.
Attorney Advertising. Prior results do not guarantee a similar outcome.
Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/rosen-a-leading-law-firm-encourages-piedmont-lithium-inc-fka-piedmont-lithium-limited-investors-with-losses-over-100k-to-secure-counsel-before-important-deadline-in-securities-class-action-first-filed-by-the-firm–pll-pll-301344608.html
SOURCE Rosen Law Firm, P.A.
NEW YORK, NY / ACCESSWIRE / July 28, 2021 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.
Churchill Capital Corp IV (NYSE:CCIV)
Investors Affected : January 11, 2021 – February 22, 2021
A class action has commenced on behalf of certain shareholders in Churchill Capital Corp IV. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Lucid was not prepared to deliver vehicles by spring of 2021; (2) Lucid was projecting a production of 557 vehicles in 2021 instead of the 6,000 vehicles touted in the run-up to the merger with Churchill; and (3) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
Shareholders may find more information at https://securitiesclasslaw.com/securities/churchill-capital-corp-iv-loss-submission-form/?id=18043&from=1
RLX Technology Inc. (NYSE:RLX)
This lawsuit is on behalf of persons who purchased, or otherwise acquired, RLX American Depository Shares pursuant or traceable to the documents issued in connection with RLX's January 2021 initial public stock offering.
A class action has commenced on behalf of certain shareholders in RLX Technology Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: the Company's then-existing exposure to China's ongoing campaign to establish a national standard for e-cigarettes, which would bring them into line with ordinary cigarette regulations, and that RLX's reported financials were not nearly as robust as the offering materials projected, nor were they indicative of future results. As a result, investors purchased RLX shares at artificially inflated prices.
Shareholders may find more information at https://securitiesclasslaw.com/securities/rlx-technology-inc-loss-submission-form/?id=18043&from=1
Piedmont Lithium Inc. (NASDAQ:PLL)
Investors Affected : March 16, 2018 – July 19, 2021
A class action has commenced on behalf of certain shareholders in Piedmont Lithium Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Piedmont has not, and would not, follow its stated steps or timeline to secure all proper and necessary permits; (2) Piedmont failed to inform relevant people and governmental authorities of its actual plans; (3) Piedmont failed to file proper applications with relevant governmental authorities (including state and local authorities); (4) Piedmont and its lithium business does not have "strong local government support"; and (5) as a result, Defendants' public statements were materially false and/or misleading at all relevant times.
Shareholders may find more information at https://securitiesclasslaw.com/securities/piedmont-lithium-inc-loss-submission-form/?id=18043&from=1
The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (212) 537-9430
Fax: (833) 862-7770
SOURCE: The Gross Law Firm
View source version on accesswire.com:
https://www.accesswire.com/657438/The-Gross-Law-Firm-Announces-Class-Actions-on-Behalf-of-Shareholders-of-CCIV-RLX-and-PLL
FMC Corporation FMC will release second-quarter 2021 results after the closing bell on Aug 3. Healthy demand and new product launches are likely to have supported its performance. However, the company’s results are likely to have been affected by cost and volume headwinds.
The company beat the Zacks Consensus Estimate for earnings in each of the last four quarters. It has a trailing four-quarter earnings surprise of 4.4%, on average. It posted an earnings surprise of 0.7% in the last reported quarter.
Shares of FMC have declined 2% in the past year compared with 32.1% rise of the industry.
Image Source: Zacks Investment Research
Let’s see how things are shaping up for this announcement.
What do the Estimates Say?
The company expects second-quarter revenues in the band of $1.19-$1.26 billion, reflecting an increase of 6% at the midpoint compared with the prior-year quarter. Adjusted earnings are forecast in the range of $1.68-$1.88 per share, representing an increase of 3% at the midpoint compared with the prior-year quarter.
The Zacks Consensus Estimate for second-quarter sales for FMC is currently pegged at $1,228 million, which suggests a 6.3% rise year over year.
Some Factors at Play
FMC Corp is focused on boosting its market position and strengthening its product portfolio. It is investing in technologies and products as well as new launches to enhance value to the farmers. New products are likely to have contributed to its results in the second quarter. The company is also expected to have benefited from cost-management actions.
The company is also likely to have gained from higher demand for its products in the quarter to be reported. There is strong demand in North America backed by strong crop commodity prices. Healthy demand is also being witnessed in soybean and sugarcane applications in Brazil. Demand for herbicides also remains strong in Australia.
However, FMC Corp is likely to have faced headwind from volume pressure in the to-be-reported quarter. Its volumes declined 4% in the first quarter, hurt by a decline in cotton acreage in Brazil and discontinued registrations in the EMEA. Softness in the cotton business in Brazil is likely to have continued through the second quarter.
The company is also likely to have witnessed cost headwinds in the June quarter. It is facing challenges from higher supply-chain costs, partly due to supply disruptions from production issues in countries like China and India amid the coronavirus pandemic. It is seeing rising costs for some raw materials and active ingredients due to supply constraints. This might have impacted its performance in the second quarter.
FMC Corporation Price and EPS Surprise
FMC Corporation price-eps-surprise | FMC Corporation Quote
Zacks Model
Our proven model does not conclusively predict an earnings beat for FMC this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that’s not the case here.
Earnings ESP: Earnings ESP for FMC is -3.12%. The Zacks Consensus Estimate for earnings for the second quarter is currently pegged $1.77. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: FMC currently carries a Zacks Rank #3.
Stocks That Warrant a Look
Here are some companies in the basic materials space you may want to consider as our model shows they have the right combination of elements to post an earnings beat this quarter:
LyondellBasell Industries N.V. LYB, scheduled to release earnings on Jul 30, has an Earnings ESP of +6.99% and sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Westlake Chemical Corporation WLK scheduled to release earnings on Aug 3, has an Earnings ESP of +1.50% and carries a Zacks Rank #1.
Eastman Chemical Company EMN, scheduled to release earnings on Aug 2, has an Earnings ESP of +0.90% and carries a Zacks Rank #3.
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
Westlake Chemical Corporation (WLK) : Free Stock Analysis Report
Eastman Chemical Company (EMN) : Free Stock Analysis Report
FMC Corporation (FMC) : Free Stock Analysis Report
LyondellBasell Industries N.V. (LYB) : Free Stock Analysis Report
To read this article on Zacks.com click here.
NEW YORK, July 28, 2021–(BUSINESS WIRE)–WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Piedmont Lithium Inc. f/k/a/ Piedmont Lithium Limited (NASDAQ: PLL, PLLL) between March 16, 2018 and July 19, 2021, inclusive (the "Class Period"), of the important September 21, 2021 lead plaintiff deadline.
SO WHAT: If you purchased Piedmont securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the Piedmont class action, go to http://www.rosenlegal.com/cases-register-2124.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than September 21, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Piedmont has not, and would not, follow its stated steps or timeline to secure all proper and necessary permits; (2) Piedmont failed to inform relevant people and governmental authorities of its actual plans; (3) Piedmont failed to file proper applications with relevant governmental authorities (including state and local authorities); (4) Piedmont and its lithium business does not have "strong local government support"; and (5) as a result, defendants’ public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
To join the Piedmont class action, go to http://www.rosenlegal.com/cases-register-2124.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.
Attorney Advertising. Prior results do not guarantee a similar outcome.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210728005692/en/
Contacts
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com
Golden Promise Gold Project, Central Newfoundland
VANCOUVER, BC / ACCESSWIRE / July 28 2021 / GREAT ATLANTIC RESOURCES CORP. (TSXV:GR)(FSE:PH01) (the "Company" or "Great Atlantic") is pleased to announce it has completed the third hole (GP-21-151) of the 2021 diamond drilling program at its Golden Promise Gold Property, located in the central Newfoundland gold belt. The hole was completed at the Jaclyn Main Zone. Multiple veins with sulfide mineralization were intersected, one of which contains visible gold.
Quartz Vein with Visible Gold in GP-21-151
Drill hole GP-21-151 is a definition hole, drilled between drill holes GP-19-142B and GP-19-144. GP-19-144 intersected high grade gold mineralization within a quartz veined zone (61.35 g/t gold over 2.04 meters core length). GP-21-151 was drilled within the west region of the Jaclyn Main Zone (JMZ). It was drilled to a length of 116 meters. The current drilling is part of the Company's Phase 2 diamond drilling program at the gold bearing Jaclyn Zone. Drill core from GP-21-151 will be geologically logged and sampled at the Company's secure facility in central Newfoundland.
Multiple quartz veins were intersected in GP-21-151, some with sulfide mineralization. A 0.78-meter long (core length) quartz vein was intersected at 47.22-47.98 meters with visible gold. Drill core samples from GP-21-151 will be submitted to a certified laboratory for gold assay and multi-element analysis.
Drilling is underway on the third hole GP-21-152, which is also a definition hole in the western part of the JMZ.
The current Phase 2 drilling will include up to 33 drill holes at the gold bearing Jaclyn Zone with holes planned at the JMZ and Jaclyn North Zone with total planned drilling of approximately 5,000 meters. The objective of drilling at the JMZ is to further define the zone and provide information for an updated resource estimate of the JMZ. The Company is continuing the drill hole numbering system from previous drilling programs. Most of the planned holes at the JMZ are within the central to west region of the zone, testing above 200 meters vertical depth. Two holes are planned in the east part of the JMZ to test the zone at 200-350 meters vertical depth.
Great Atlantic reported a National Instrument 43-101 compliant inferred resource estimate during late 2018 for the JMZ of 357,500 tonnes at 10.4 g/t gold (119,900 ounces of gold – uncapped).
The Company confirmed high-grade gold at the JMZ during 2019 drilling, including near surface intercepts (core length) of 113.07 grams / tonne (g/t) gold over 0.55 meters, 61.35 g/t gold over 2.04 meters and 15.8 g/t gold over 2.70 meters plus an interval of multiple gold bearing veins in one drill hole averaging 2.30 g/t gold over 25.25 meters.
Quartz Vein with Visible Gold in GP-21-151
The Golden Promise Property is located within a region of recent significant gold discoveries. The property is located within the Exploits Subzone of the Newfoundland Dunnage Zone. Within the Exploits Subzone, the property lies along the north-northwestern fringe of the Victoria Lake Supergroup (VLSG), a volcano-sedimentary terrane. The northwestern margin of the Golden Promise Property occurs proximal to, and, in part, contiguous with a major (Appalachian-scale) collisional boundary, and suture zone, known as the RIL. The RIL forms the western boundary of the Exploits Subzone. Recent significant gold discoveries within the Exploits Subzone include those of Marathon Gold Corp. (TSX.MOZ) at the Valentine Gold Project, Sokoman Minerals Corp. (TSXV.SIC) at the Moosehead Gold Project and New Found Gold Corp. (TSXV.NFG) at the Queensway Project. Readers are warned that mineralization at the Valentine Gold Project, Moosehead Gold Project, and Queensway Project is not necessarily indicative of mineralization the Golden Promise Property.
David Martin, P.Geo., a Qualified Person as defined by NI 43-101 and VP Exploration for Great Atlantic, is responsible for the technical information contained in this News Release.
On Behalf of the board of directors
"Christopher R Anderson"
Mr. Christopher R. Anderson "Always be positive, strive for solutions, and never give up"
President CEO Director
Investor Relations:
Andrew Job 1-416-628-1560 IR@GreatAtlanticResources.com
Office Line 604-488-3900
About Great Atlantic Resources Corp.
Great Atlantic Resources Corp. is a Canadian exploration company focused on the discovery and development of mineral assets in the resource-rich and sovereign risk-free realm of Atlantic Canada, one of the number one mining regions of the world. Great Atlantic is currently surging forward building the company utilizing a Project Generation model, with a special focus on the most critical elements on the planet that are prominent in Atlantic Canada, Antimony, Tungsten and Gold.
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company 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 forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.
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.
Great Atlantic Resource Corp
888 Dunsmuir Street – Suite 888, Vancouver, B.C., V6C 3K4
SOURCE: Great Atlantic Resource Corp.
View source version on accesswire.com:
https://www.accesswire.com/657317/Great-Atlantic-Third-Drill-Hole-Completed-Visible-Gold-Intersected-in-One-Vein
SAN DIEGO, July 28, 2021–(BUSINESS WIRE)–Shareholder rights law firm Robbins LLP announces that a class action has been filed on behalf of all purchasers of Piedmont Lithium Inc. f/k/a Piedmont Lithium Limited (NASDAQ: PLL) between March 16, 2018 and July 19, 2021, for violations of the Securities Exchange Act of 1934. Piedmont engages in the exploration and development of resource projects and holds a 100% interest in a lithium project covering 2,322 acres in North Carolina.
If you suffered a loss due to Piedmont Lithium Inc.'s misconduct, click here.
Piedmont Lithium Inc. (PLL) Misled Investors Regarding its Timeliness in Obtaining Permits
According to the complaint, during the relevant period, defendants informed investors of the necessity of obtaining the proper mining permits and even warned of risks associated with the Company's failure to obtain such permits. Throughout 2018, Piedmont touted its plan to mine in North Carolina and reiterated that to do so it would have to file the necessary permits. In 2019, the Company informed investors it had submitted "key permit applications," was in the process of "secur[ing] the necessary permits and approvals to commence mining and processing operations," and "look[ed] forward to deliver a DFS for a fully permitted integrated project by the end of 2020." By January 2021, the Company had not secured the proper permits to begin its project.
On July 20, 2021, Reuters published an article explaining that while the Company announced a deal to supply Tesla Inc. with lithium sourced from its deposits in North Caroline, it had done nothing to obtain state mining permits or zoning variance in Gaston County. The article also highlighted the deteriorating relationship between Piedmont and county leaders. On this news, Piedmont shares fell $12.56 per share, or nearly 20%, to close at $50.52 per share on July 20, 2021, damaging investors.
If you purchased shares of Piedmont Lithium Inc. (PLL) between March 16, 2018 and July 19, 2021, you have until September 21, 2021, to ask the court to appoint you lead plaintiff for the class.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
Contact us to learn more:
Lauren Levi
(800) 350-6003
llevi@robbinsllp.com
Shareholder Information Form
Robbins LLP is a nationally recognized leader in shareholder rights law. To be notified if a class action against Piedmont Lithium Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today.
Attorney Advertising. Past results do not guarantee a similar outcome.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210728005790/en/
Contacts
Lauren Levi
Robbins LLP
5040 Shoreham Place
San Diego, CA 92122
llevi@robbinsllp.com
(800) 350-6003
www.robbinsllp.com
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