nysestocks
Crescent Point Energy (TSX:CPG,NYSE:CPG) is set to acquire SilverBow Resources (NYSE:SBOW) in a deal valued at US$2.1 billion, positioning Crescent as the second largest operator in the Eagle Ford shale. Under a definitive agreement announced on Thursday (May 16), SilverBow shareholders will receive 3.125 shares of Crescent Class A common stock for each share of SilverBow common stock they own, with an option to receive cash at a value of US$38 per share, subject to a cash consideration cap of US$400 million. John Goff, chairman of the board at Crescent, said the deal will place the business i...
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Major fertilizer producer Nutrien (TSX:NTR,NYSE:NTR) shared its first quarter results on May 8, reporting net earnings of US$165 million for the period, down 71 percent year-on-year. Adjusted EBITDA came in at US$1.1 billion, a 26 percent year-on-year decline, while Nutrien recorded adjusted net earnings per share of US$0.46, a fall of 50 percent over the same timeframe. The company said the decreases came on the back of lower net fertilizer selling prices, but pointed to strong demand for crop inputs. It is seeing strong potash demand in North America, as well as Southeast Asia, where lower i...
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Crescent Point Energy (TSX:CPG,NYSE:CPG) has struck a deal with Saturn Oil & Gas (TSX:SOIL,OTCQX:OILSF) to divest certain non-core assets in Saskatchewan as part of its long-term sustainability plan. “This transaction allows us to realize value for these non-core assets which had limited impact in the Company’s future plans while continuing to focus on our priorities of operational execution, optimizing our balance sheet and increasing our return of capital,” said Craig Bryksa, president and CEO of Crescent Point, in a company press release. The strategic move involves the sale of assets, incl...
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Newmont (TSX:NGT,NYSE:NEM) released its Q1 results on April 25, saying it is on track to achieve guidance. In Q1, the world's largest gold miner reported attributable gold production of 1.7 million ounces, up from the previous year's 1.3 million ounces. The company's shares rose as much as 13.57 percent on the news to hit US$43.84. Emphasizing the strength of its Tier 1 gold and copper assets, Newmont said it generated US$776 million in cashflow from its operating activities during the period, net of working capital changes of US$666 million. The company continues working to divest non-core as...
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Artificial intelligence (AI) may be an emerging technology, but there are plenty of billion-dollar companies in this space. As the market has grown over the past few years, AI technology has made strong inroads into several key industries, including logistics, manufacturing, finance, healthcare, customer service and cybersecurity. While AI-driven advancements in robotics have received the most press in recent years, the latest buzz has centered around OpenAI’s ChatGPT. This intelligent chatbot shows how quickly generative AI is advancing, and has attracted the attention of heavyweight technolo...
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Major diversified miner Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) weathered both operational challenges and a tragic loss to deliver a resilient performance in the first quarter of 2024. Despite grappling with the aftermath of a devastating plane crash that claimed six lives, including four Diavik diamond mine employees, the company has emerged with stable operational results. “We delivered stable operating results in the first quarter, including improvements at our bauxite and aluminum businesses, as we navigated seasonal challenges across our global operations. Our full year guidance is unchanged...
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The lithium market exhibited greater stability in Q1 after fluctuating in 2023. Lithium carbonate prices, which began the quarter at US$13,377.44 per metric ton, concluded around US$14,874.31, up 11 percent. Market oversupply prompted some lithium producers to trim their 2024 output targets in hopes that excess material will be absorbed. Spending for project expansions and new developments was also put on the back burner. “We believe we are approaching the bottom of the market, considering the industry is moving fairly deep into the cost curve. This is likely to support lithium prices as produ...
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Hydrogen stocks are benefiting from cleantech sector momentum as the world moves closer to a green energy future. The most abundant element on Earth, hydrogen is a colorless gas. It can be produced in liquid form and burned to generate electricity, or combined with oxygen atoms in fuel cells. In this way, hydrogen — which produces no carbon emissions — can replace fossil fuels in household heating, transportation and industrial processes such as steel manufacturing. Rising demand for carbon-free energy sources alongside significant new government policies are driving growth in the hydrogen mar...
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