Core Viewpoint - Patriot Battery Metals Inc. has successfully closed a private placement with Volkswagen Group, raising C$69 million (US$48 million), which will be utilized for the exploration and development of its lithium project in Quebec, Canada [1][2][3]. Group 1: Strategic Investment - Volkswagen now holds approximately 9.9% of Patriot's issued and outstanding common shares on a non-diluted basis following the strategic investment [2]. - The funds from the strategic investment will be allocated towards the exploration, development, and completion of a feasibility study for the Shaakichiuwaanaan Lithium Project, as well as for general working capital [2][4]. Group 2: Project Significance - The Shaakichiuwaanaan Lithium Project is positioned as a high-grade, large-scale resource in North America, expected to meet the growing demand for lithium through the end of the decade and beyond [4]. - The project is noted for its substantial mineral resource, totaling 80.1 million tonnes at 1.44% Li2O indicated and 62.5 million tonnes at 1.31% Li2O inferred, making it the largest lithium pegmatite resource in the Americas [8][18]. Group 3: Collaboration with Volkswagen - The strategic partnership includes a binding offtake agreement for Patriot to supply 100,000 tonnes of spodumene concentrate per year to Volkswagen's battery manufacturer, PowerCo SE, over a 10-year term [9]. - An investor rights agreement allows Volkswagen to participate in future equity raises and provides a voting support covenant in favor of management [9]. - A non-binding Memorandum of Understanding (MoU) aims to establish a strategic relationship between PowerCo and Patriot for future collaboration on the Shaakichiuwaanaan Project and the development of a sustainable battery supply chain [9].

Core Points - Patriot Battery Metals Inc. has been awarded "Entrepreneur of the Year" by the Quebec Mineral Exploration Association for significant progress at its flagship Shaakichiuwaanaan Project [1][2] - The award was presented at the 2024 QMEA Awards Gala held in Montreal on October 30, 2024 [1][2] Project Development - The Shaakichiuwaanaan Project has seen advancements including the construction of a 20.2 km all-season access road, reducing reliance on helicopters [4] - An 88-person exploration camp was established, and an updated Mineral Resource Estimate was released in August 2024 [4] - The Preliminary Economic Assessment (PEA) confirmed the project's potential to become the fourth-largest hard rock lithium mine globally, with an estimated mine life of 24 years [5] Feasibility and Environmental Studies - The company has initiated a Feasibility Study and is collecting environmental baseline data for the Environmental and Social Impact Assessment [6] - The team has expanded to include professionals in various fields such as geology, engineering, ESG, and finance [6] Resource Estimates - The Shaakichiuwaanaan Mineral Resource includes 80.1 million tonnes at 1.44% Li2O indicated and 62.5 million tonnes at 1.31% Li2O inferred, making it the largest lithium pegmatite resource in the Americas and the eighth largest in the world [10][11]

Financial Performance - Net income for the quarter ended September 30, 2024, was $41.4 million, a decrease of $20.0 million compared to $61.4 million for the same quarter in 2023[2]. - The company reported net investment income of $80.9 million for the quarter ended September 30, 2024, compared to $163.4 million for the same quarter in 2023[186]. - Net investment income for the quarter ended September 30, 2024, was $35,876,000, compared to $46,573,000 for the same period in 2023, reflecting a decrease of approximately 23%[199]. - The company reported a net cash flow of $63.3 million for the nine months ended September 30, 2024, compared to $124.5 million for the same period in 2023[245]. - The net loss for the nine months ended September 30, 2024, is $129,464,000, with a pre-tax loss of $171,817,000 and a benefit from income taxes of $42,353,000[256]. Investment and Asset Management - As of September 30, 2024, the company held net CRT-related investments totaling approximately $1.1 billion[182]. - The company sold approximately $111.0 million of subordinate credit-linked MBS during the nine months ended September 30, 2024, and held subordinate credit-linked MBS with fair values totaling approximately $196.3 million[182]. - The company received approximately $159.5 million of MSRs as proceeds from sales of loans acquired for sale during the nine months ended September 30, 2024, holding approximately $3.8 billion of MSRs at fair value[182]. - The company purchased newly originated prime credit quality residential loans with fair values totaling $67.9 billion for the nine months ended September 30, 2024, compared to $63.7 billion for the same period in 2023[183]. - The company reported a total of $13,055.7 million in assets as of September 30, 2024, compared to $13,113.9 million as of December 31, 2023[235]. Loan Production and Sales - During the nine months ended September 30, 2024, the company sold $30.2 billion and $26.3 billion UPB of government guaranteed or insured loans and conventional loans, respectively, to PennyMac Loan Services[183]. - The company plans to continue selling a portion of its conventional loans to private label securitizations throughout the remainder of 2024 to optimize capital allocation[9]. - The UPB of loans fulfilled by PLS was $5,948,057 thousand for the quarter ended September 30, 2024, compared to $2,760,000 thousand for the same period in 2023[227]. - The company purchased $26.5 billion in correspondent production loans for sale during the quarter ended September 30, 2024, compared to $21.8 billion in the same period in 2023, representing a 21.5% increase[237]. Delinquency and Loan Performance - The company experienced an increase in 30-89 days delinquent loans to $2,510,113 thousand as of September 30, 2024, from $2,184,500 thousand as of December 31, 2023[214]. - The company reported a 60+ delinquency rate of 0.5% for Freddie Mac loans, with a current LTV of 56%[216]. - As of September 30, 2024, the unpaid principal balance of the MSR servicing portfolio is $228,127 million, with an average loan size of $270,000 and a 60+ delinquency rate of 0.7%[216]. Expenses and Liabilities - The company recorded a decrease in net servicing fees of $366.4 million for the quarter ended September 30, 2024, compared to the same quarter in 2023, due to increased net MSR valuation losses[10]. - Total expenses increased by $9.3 million during the quarter ended September 30, 2024, compared to the same period in 2023, primarily due to increased loan fulfillment fees[224]. - The total liability for representations and warranties at the end of the period was $8.315 million for the quarter ended September 30, 2024, down from $33.152 million in the same period of 2023[206]. Taxation and Compliance - The company aims to qualify as a REIT to avoid federal income tax on distributed income, with a portion of activities conducted in a taxable REIT subsidiary subject to corporate taxes[184]. - The effective tax rate for the Company was (56.1)% for the quarter ended September 30, 2024, with consolidated pretax income of $26.5 million[231]. - The TRS recognized a tax benefit of $15.5 million on a pretax loss of $64.7 million for the quarter ended September 30, 2024[231]. Market Outlook - The mortgage origination market is projected to grow from $1.7 trillion in 2024 to $2.3 trillion in 2025 due to declining interest rates and increased refinancing activity[1]. - The company expects to continue growing its investment portfolio through cash flow from business activities and additional equity capital[239]. Financing and Debt Management - The company is exploring various means of financing, including debt financing through bank warehouse lines of credit and securitization transactions[259]. - The total secured borrowings amounted to $9,977,254 thousand as of September 30, 2024, with a debt-to-equity ratio of 4.9:1 excluding non-recourse debt[251]. - The company has renewed, extended, or replaced all debt financing arrangements that matured between September 30, 2024, and the date of the report[261].

Core Viewpoint - PennyMac Mortgage Investment Trust (NYSE: PMT) is a stable mREIT with a dividend yield of 11.7% in 2024 [1] Company Overview - PMT invests in mortgages and has maintained stable share prices throughout 2024 [1] - The company offers three different types of preferred shares [1] Investment Focus - The focus is on income investing through common shares, preferred shares, or bonds [1] - The company is positioned to attract investors looking for high dividend yields [1]

Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value ...

For the quarter ended September 2024, PennyMac Mortgage (PMT) reported revenue of $80.86 million, down 50.5% over the same period last year. EPS came in at $0.36, compared to $0.51 in the year-ago quarter.The reported revenue represents a surprise of -13.75% over the Zacks Consensus Estimate of $93.75 million. With the consensus EPS estimate being $0.37, the EPS surprise was -2.70%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to de ...

PennyMac Mortgage Investment Trust (NYSE:PMT) Q3 2024 Earnings Conference Call October 22, 2024 6:00 PM ET Company Participants David Spector - Chairman & Chief Executive Officer Dan Perotti - Chief Financial Officer Conference Call Participants Jason Weaver - Jones Trading Bose George - KBW Doug Harter - UBS Matthew Howlett - B. Riley Eric Hagen - BTIG Operator Good afternoon, and welcome to PennyMac Mortgage Investment Trust Third Quarter Earnings Call. Additional materials, including the presentation sli ...

PennyMac Mortgage (PMT) came out with quarterly earnings of $0.36 per share, missing the Zacks Consensus Estimate of $0.37 per share. This compares to earnings of $0.51 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -2.70%. A quarter ago, it was expected that this specialty finance company would post earnings of $0.34 per share when it actually produced earnings of $0.17, delivering a surprise of -50%.Over the last four quart ...

Exhibit 99.1 PennyMac Mortgage Investment Trust Reports Third Quarter 2024 Results WESTLAKE VILLAGE, Calif. – October 22, 2024 – PennyMac Mortgage Investment Trust (NYSE: PMT) today reported net income attributable to common shareholders of $31.0 million, or $0.36 per common share on a diluted basis for the third quarter of 2024, on net investment income of $80.9 million. PMT previously announced a cash dividend for the third quarter of 2024 of $0.40 per common share of beneficial interest, which was declar ...

Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers. Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors rely on traditional forms of analysis on ke ...