The latest Market Talks covering Basic Materials. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.
0742 ET – Uranium Energy is making big leaps in its plans to build out its uranium supply in Canada and the U.S., but there are risks to its ambitious expansion plans. RBC’s Andrew Wong notes that the company is ramping uranium production in Wyoming and Texas, developing the Roughrider project in Saskatchewan, and plans to build new uranium conversion capacity. Shares are down 20% year-to-date at $9.36.
0604 ET – Glencore could beat its new marketing unit forecast this year, RBC analyst Ben Davis writes. The miner raised its guidance for marketing adjusted EBIT this year to over $5 billion. RBC has an outperform rating on the stock. Shares are up 38% year-to-date.
0238 ET – Bof A Securities turns bullish on BHP, citing an improved outlook for copper prices. It raises its target to A$68 and upgrades to buy. Shares ended up 1.6% at A$61.21. 0053 ET – UBS says Lynas’s acquisition of Meteoric Resources demonstrates increased interest in Brazil for rare earths. Shares are up 0.6% at A$12.72.
Source: Wall Street Journal Markets · Summarized by HeadlinesBriefing