Kinross Gold: BMO Expects The Sale of Russian Assets
Last week, Kinross Gold Corporation (TSX: K) announced the suspension of its Russian operations. Impacted operations include the Udinsk development project as well as its operating at its Kupol mine. The Kupol mine has the highest gross margins and is the second-largest contributor to the company’s metal sales, which was $862.8 million in 2021. Several […]
Russia Again Postpones Stock Market Beat Down By Keeping Markets Closed
The Central Bank of Russia is evidently looking to postpone the inevitable. The bank yesterday announced that the Moscow Exchange would again be closed for trading this week, marking the third straight week in which investors have been unable to trade securities. The market itself has been closed since February 25, the day following which […]
Nickel Price Saga Remains Unresolved; Could Lead to Increased Volatility in Other Commodity Markets
Last week the London Metal Exchange (LME) decided to favor one category of customer, a metals producer which uses the futures exchange to fix the price of the commodity it is selling, over financial speculators like hedge funds. While such a stance seems perhaps sensible from the 30,000-ft level, the Exchange’s putting its thumb on the […]
Kinetik Holdings Plunges on Stock Sale; Decline Seems to be Significant Overreaction
On March 9, Kinetik Holdings Inc. (NASDAQ: KNTK) sold what will amount to 4 million common shares (after the greenshoe option is exercised) at US$58.00 per share, a whopping 17% discount to its March 8 close. The dividend yield on Kinetik has ballooned to 9.8%, which would make it the highest yielding stock in the S&P 500 if […]
Joe Biden Removes Russia’s Trade Status, Bans Imports of Vodka, Seafood, Diamonds
The Biden administration plans to significantly downgrade Russia’s trade status and impose additional import restrictions, in an effort to punish the country for its military operation in Ukraine. US President Joe Biden on Friday announced the US will revoke Russia’s “most favoured nation” (MFN) trading status, as well as ban the imports of seafood, vodka […]
FYI: Stoli, the Vodka Formerly Known as Stolichnaya, Is 100% Non-Russian
Stolichnaya is rebranding. The popular vodka will now be exclusively sold and marketed as Stoli, the Stoli Group announced following Russia’s invasion of Ukraine. The company’s decision was driven by three factors: the founder’s vehement opposition to the Putin regime; the employees’ determination to take action; and the desire to accurately represent Stoli’s roots in […]
Justin Trudeau Concludes Europe Visit, Imposes Even More Sanctions Against Russia
Canadian Prime Minister Justin Trudeau finally completed his Europe visit, and it appears that Russia’s sanction sandwich is about to get a whole lot bigger. Trudeau on Friday concluded his diplomatic photo-op trip to Europe, just as the crisis in Ukraine takes a dismal turn for the worse. Satellite imagery depicting the area surrounding Kyiv […]
Rivian Reports Disappointing Quarter; Nevertheless, It May be Time to Cover Shorts
If there were a blueprint for how to put together a disappointing earnings report, Rivian Automotive, Inc. (NASDAQ: RIVN) followed it with its 4Q 2021 release on March 10. The company announced a large 4Q 2021 loss and cash flow shortfall, but investors tend to ignore such losses early on during an electric vehicle (EV) OEM’s start-up process. The […]
Curaleaf: Consensus Estimate Falls To $20.18 After Weak Guidance
On March 3rd, Curaleaf Holdings, Inc. (CSE: CURA) reported its fourth quarter and full year 2021 results. The company announced that its revenue grew 93% year over year to $1.2 billion with gross profits of $588 million or a 48.5% margin. Additionally, it saw its adjusted EBITDA grow to $298 million, up 107% year over […]
US And China Regulatory Crackdowns Caused Shares Of Dual-Listed Chinese Firms To Plummet
Big dual-listed Chinese tech names saw their shares fall in the respective American and Hong Kong stock exchanges following the chilling effects of regulatory crackdowns by both countries. Chinese electric vehicle maker Nio (NYSE: NIO) saw its American depositary share price drop by 11.90% and its Hong Kong-listed shares — which only debuted a day […]