Cresco Labs: Canaccord Lowers Price Target To $19
Cresco Labs (CSE: CL) reported its first-quarter financial results this past week. The company announced revenue of $178.4 million, a 9.9% increase quarter over quarter. Gross profit margin came in at 48.8%, and the company experienced record revenue in both its wholesale and retail segments. The company did come out with some sort of soft […]
Another Sign of Inflation: US PCE Index Jumps By More Than Expected… Again
US consumers have likely felt significant pressure on their pocketbooks over the past several months, and their concerns are certainly warranted. Indeed, every metric used to measure price pressures in the US has been running red-hot, all while Fed chairman Jerome Powell appears to have fallen asleep atop the shiny “buy” button, as purchases of […]
Ethereum: Transition To Proof Of Stake Could Boost Valuation
Several well-informed sources, including a researcher at the highly regarded Ethereum Foundation, have said that the methodology for mining Ethereum may soon change. The change will see the second-largest cryptocurrency by market cap shift to an environmentally friendly Proof-of-Stake (PoS) system, from an electricity usage-intensive Proof-of-Work (PoW) algorithm. When this change is made, the magnitude […]
Hut 8 Mining: Is The Company Now Trading In Value Stock Territory?
After a vicious ~64% correction over the past two months of trading, Hut 8 Mining Corp. (TSX: HUT) shares are beginning to look attractively valued on a fundamental basis. All cryptocurrency miners, including Hut 8, have been buffeted by the decline in the price of Bitcoin. Hut 8 now seems to be priced more like a value […]
Americans’ Inflation Fears Continue to Surge
Sentiment among US consumers continued on its deteriorating trend this month, as inflation fears become more and more pronounced. According to the University of Michigan’s final sentiment reading for the month of May, the index fell from 88.3 in April to 82.9, coinciding with the the consensus estimate among economists surveyed by Bloomberg. The latest […]
Trillium Gold Mines: Corporate Overview
Trillium Gold Mines Inc. (TSXV: TGM) is a junior gold mining company which has the second largest land holding in the Red Lake Mining District in Ontario, one of the most prolific and high gold-concentration mining regions in the world. Mines in the region have produced a cumulative 29.5 million ounces of gold at an average gold […]
Congo Bans Copper and Cobalt Exports Following Ivanhoe Mines Project Debut
The Democratic Republic of Congo (DRC) has once again banned exports of of copper and cobalt concentrates, in an effort to boost the country’s domestic ore processing and refining operations. However, Canadian-based Ivanhoe Mines (TSX: IVN) has said the latest ban will likely not affect its operations. Congo, which is the currently the world’s top […]
Bitfarms: Potentially Inexpensive Based On Normalized Annualized Cash Flow
On May 26, Bitfarms Ltd. (TSXV: BITF) reported strong 1Q 2021 results. Revenue and adjusted EBITDA in the period were US$28.4 million and US$19.7 million, respectively. The company’s 1Q 2021 revenues were approximately triple that of both the preceding quarter and the year-ago period. Moreover, adjusted EBITDA in 1Q 2021 was 450% – 600% better than […]
Ayr Wellness: Canaccord Reiterates $70 Price Target Following Earnings
Earlier this week, Ayr Wellness (CSE: AYR.a) reported their first-quarter earnings. The company reported revenues of $58.4 million, a 22.7% increase quarter over quarter and a 74% increase year over year. The companies EBITDA came in at $18.4 million, or generally flat quarter over quarter but EBITDA margin percent dropped from 38.9% to 31.5%. The […]
Archegos Blowout Prompts US Justice Department Probe
The US Department of Justice has allegedly opened an investigation into the collapse of Bill Hwang’s Archegos Capital Management, which left a number of big banks in the US and Europe with over $10 billion worth of losses. According to Bloomberg, which cited people familiar with the matter, DOJ prosecutors from Manhattan have issued requests […]