Elemental Royalty subsidiary Bronco Creek Exploration has entered into an option agreement with First Quantum Minerals for the sale of the Hachita porphyry copper-gold project in south-western New Mexico, US. The Hachita project is located around 95km south-east of Lordsburg, within the Sylvanite mining district. The project targets Laramide porphyry copper-gold and skarn mineralisation in an underexplored area on the eastern side of the Laramide porphyry belt, expanding exploration coverage across a reg ...

Royal Gold (NasdaqGS:RGLD) Conference December 04, 2025 12:00 PM ET Company ParticipantsAlistair Baker - SVP of Investor Relations and Business DevelopmentOperatorHello and good afternoon, everyone. Welcome to today's virtual Non-Deal Roadshow. My name is Noella Alexander-Young, Virtual Event Moderator here at Renmark Financial Communications. On behalf of our team, we'd like to thank everyone in Atlanta and surrounding areas for joining us today for the presentation of Royal Gold trading on the NASDAQ unde ...

Core Insights - First Quantum Minerals reported a quarterly loss of $0.02 per share, missing the Zacks Consensus Estimate of $0.08, and a decline from earnings of $0.14 per share a year ago, resulting in an earnings surprise of -125.00% [1] - The company posted revenues of $1.35 billion for the quarter ended September 2025, which was 6.47% below the Zacks Consensus Estimate, but an increase from $1.28 billion year-over-year [2] - First Quantum Minerals shares have increased by approximately 68.3% year-to-date, significantly outperforming the S&P 500's gain of 16.9% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.10 on revenues of $1.41 billion, and for the current fiscal year, it is $0.20 on revenues of $5.16 billion [7] - The estimate revisions trend for First Quantum Minerals was favorable prior to the earnings release, resulting in a Zacks Rank 1 (Strong Buy) for the stock, indicating expected outperformance in the near future [6] Industry Context - The Mining - Non Ferrous industry, to which First Quantum Minerals belongs, is currently ranked in the top 7% of over 250 Zacks industries, suggesting a strong performance potential compared to lower-ranked industries [8] - Coeur Mining, another company in the same industry, is expected to report quarterly earnings of $0.25 per share, reflecting a year-over-year increase of +108.3%, with revenues anticipated to be $547 million, up 74.5% from the previous year [9][10]

Core Insights - Sigma Lithium Corporation has been added to the Morgan Stanley National Security Stock Index, highlighting its role in the lithium supply chain for electric vehicles and energy storage systems [1][2]. Company Overview - Sigma Lithium is a leading global lithium producer focused on sustainable lithium concentrate for batteries [4]. - The company operates one of the largest lithium production sites globally, specifically the Grota do Cirilo Operation in Brazil, which is the fifth-largest industrial-mineral complex for lithium oxide [5]. Production Capacity - Sigma Lithium currently produces 270,000 tonnes of lithium oxide concentrate annually, equivalent to approximately 38,000–40,000 tonnes of lithium carbonate equivalent (LCE) [6]. - The company is constructing a second plant aimed at doubling its production capacity to 520,000 tonnes of lithium oxide concentrate, which translates to approximately 77,000–80,000 tonnes of LCE [6]. Sustainability Commitment - Sigma Lithium emphasizes environmental and social sustainability, producing "Quintuple Zero Green Lithium," which is characterized by zero carbon emissions, zero coal power, zero tailings dams, zero use of potable water, and zero hazardous chemicals [5]. Industry Context - The Morgan Stanley National Security Index includes other prominent U.S.-listed companies involved in strategic materials, such as Albemarle (lithium), Freeport-McMoRan (copper), and Tesla (technology, batteries), indicating a focus on companies that contribute to national security and supply chain resilience [2][3].

Core Insights - Capstone Copper is a mid-tier copper producer in Canada, formed through the merger of Capstone Mining and Mantos Copper in March 2022, focusing on supplying copper for industrial and energy-transition markets [1][3][28] - The company operates primarily in the Americas, with key assets including the Pinto Valley mine in the U.S. and the Mantoverde complex in Chile, positioning it among notable producers like BHP Group and Glencore [1][4][21] - Capstone's business model emphasizes operational reliability, capital discipline, and exposure to long-term copper demand driven by electrification and renewable energy [1][9][23] Market Position and Strategy - Capstone maintains a primary listing on the Toronto Stock Exchange (TSX:CS) and a secondary listing on the Australian Securities Exchange (ASX:CSC), enhancing its access to North American and international investors [1][5][42] - The company aims to balance operational scale with nimble capital deployment, focusing on high-quality operations and development projects to optimize returns [4][21][40] - Capstone's market capitalization is approximately CA$6.545 billion, reflecting investor expectations and fluctuating with copper prices and production guidance [10][12][41] Financial Performance - Revenue and net income are influenced by commodity cycles, with higher copper prices typically leading to increased revenue through improved realized metal prices [11][13] - Analysts monitor Capstone's financials and operational metrics through various platforms, emphasizing the importance of consistent disclosure and capital allocation frameworks [7][16][39] - The company's dividend policy prioritizes capital discipline, with returns to shareholders contingent on cash flow and market conditions [14][46] Operational Insights - Capstone's operational footprint includes open-pit mining, milling, flotation, and concentrate sales, with a focus on maintaining steady production and cash flow [19][20] - Key performance indicators include production volumes, unit cash costs, and recovery rates, which directly influence margin realization [20][22] - The company is positioned to capture returns by optimizing existing mines and advancing higher-return projects, particularly during periods of strong copper demand [6][23][38] Corporate Governance and Leadership - The executive leadership team at Capstone is tasked with operational integration, capital allocation, and ESG priorities, emphasizing transparent reporting and stakeholder engagement [31][33] - The company's governance structure supports multi-market listings and aims to convert its merged portfolio into consistent operational performance [33][35]

Investors might want to bet on First Quantum Minerals (FQVLF) , as earnings estimates for this company have been showing solid improvement lately. The stock has already gained solid short-term price momentum, and this trend might continue with its still improving earnings outlook.The upward trend in estimate revisions for this metal and minerals mining company reflects growing optimism of analysts on its earnings prospects, which should get reflected in its stock price. After all, empirical research shows a ...

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Group 1: Momentum Style Score - First Quantum Minerals (FQVLF) currently holds a Momentum Style Score of A, indicating strong momentum characteristics [3] - The Zacks Rank for FQVLF is 2 (Buy), suggesting a favorable outlook compared to the market [4] Group 2: Price Performance - FQVLF shares have increased by 6.68% over the past week, while the Zacks Mining - Non Ferrous industry has risen by 9.2% during the same period [6] - Over the last quarter, FQVLF shares rose by 25.04%, and over the past year, they increased by 66.26%, significantly outperforming the S&P 500, which moved 8.31% and 17.5% respectively [7] Group 3: Trading Volume - The average 20-day trading volume for FQVLF is 314,335 shares, which serves as a bullish indicator when combined with rising stock prices [8] Group 4: Earnings Outlook - In the past two months, four earnings estimates for FQVLF have been revised upwards, increasing the consensus estimate from $0.09 to $0.12 [10] - For the next fiscal year, five estimates have also moved higher, with no downward revisions noted [10] Group 5: Conclusion - Given the strong momentum indicators and positive earnings outlook, FQVLF is positioned as a promising investment opportunity [12]

Core Insights - DRDGOLD (DRD) has significantly outperformed its peers in the Basic Materials sector, with a year-to-date gain of approximately 219.2% compared to the sector average of 23.6% [4] - The Zacks Consensus Estimate for DRD's full-year earnings has increased by 57.8% in the past quarter, indicating improved analyst sentiment and a stronger earnings outlook [4] - DRDGOLD holds a Zacks Rank of 1 (Strong Buy), suggesting it has favorable characteristics for outperforming the market in the near term [3] Company Performance - DRDGOLD is part of the Mining - Gold industry, which has seen an average gain of 119.1% this year, indicating that DRD is performing better than the industry average [6] - In comparison, First Quantum Minerals (FQVLF), another outperforming stock in the Basic Materials sector, has returned 75.7% year-to-date, with a Zacks Rank of 2 (Buy) [5][6] Sector Overview - The Basic Materials sector includes 236 individual stocks and currently holds a Zacks Sector Rank of 13 out of 16 groups, reflecting its relative performance [2] - The Mining - Non Ferrous industry, where First Quantum Minerals belongs, has a lower ranking (89) and has only gained 15.8% this year, highlighting the stronger performance of the Mining - Gold industry [6]

Summary of Key Points from the Conference Call Industry Overview - **Industry**: Copper - **Current Context**: The copper market is facing significant supply disruptions, with year-to-date (YTD) disruptions reaching nearly 5% of total supply, and potential for further increases as the year progresses [1][3][12]. Core Insights and Arguments - **Supply Disruptions**: - Freeport's Grasberg mine production is expected to be disrupted longer than initially anticipated, contributing to a total of approximately 1.1 million tonnes of disruptions, or 4.7% of global supply [3][6]. - Other notable disruptions include Ivanhoe's Kamoa Kakula mine, which has reduced its 2025 guidance by 155 kt due to a seismic event, and Cochilco's estimate of an 80 kt cut in Chilean output [3][4]. - Codelco's El Teniente mine may also take longer to return to full production, increasing the estimated impact from 33 kt [3][4]. - **Future Market Challenges**: - A deficit market for 2026 is anticipated, exacerbated by Freeport's guidance cut of 270 kt, primarily affecting the refined copper market [4]. - Uncertainties regarding the restart of Cobre Panama and Ivanhoe's upcoming guidance for 2026/27 add to the market's tightness [4]. - **Demand Dynamics**: - There are signs of demand destruction, particularly in China, where price sensitivity is noted above $10,000 per tonne [1][12][13]. - US copper imports have decreased significantly from approximately 40 kt/week to 15 kt/week, potentially freeing up material for other markets [12][13]. - **Macro Environment**: - A supportive macro backdrop includes a weakening USD, a Federal Reserve more tolerant of inflation, and expectations of rate cuts, which could bolster copper prices [12][14]. - Despite these supportive factors, the risk of demand destruction remains, particularly if price sensitivity continues to rise in key markets like China [15]. Additional Important Insights - **Scrap Copper Usage**: Increased scrap usage has provided some offset to tight concentrate supply, although new regulations in China are complicating this [3]. - **Price Trends**: Copper prices have been rising, with COMEX copper outperforming LME due to macro investor inflows and low inventories [14][15]. - **Inventory Levels**: Outside the US, copper inventories are low, leaving limited buffer against further disruptions [15]. Conclusion - The copper market is currently characterized by significant supply disruptions and potential future deficits, with macroeconomic factors providing some support for prices. However, demand destruction, particularly in China, poses a risk that could impact future price movements and market stability [1][15].

Core Insights - First Quantum Minerals, a major copper producer, has experienced a significant decline in share price, dropping over 30% since July 28, 2023, primarily due to the shutdown of its Cobre Panama mine, which previously accounted for 40% of its revenue [2][8] - Despite this setback, the company may present a buying opportunity for investors, as copper supply remains tight and discussions regarding the Cobre Panama mine's future are ongoing [3][8] Company Overview - First Quantum Minerals generates revenue primarily through copper mining, with copper constituting over 80% of its total revenue. The company also mines nickel and gold, but copper is critical to its operations [5][7] - Prior to the Cobre Panama shutdown in 2022, First Quantum produced nearly 776,000 tonnes of copper, resulting in C$7.3 billion in revenue [6] - The company operates multiple mines across Zambia, Australia, and Spain, with mines like Kansanshi and Sentinel in Zambia continuing to produce copper, which helps mitigate the impact of the Cobre Panama closure [7][8] Market Context - The closure of the Cobre Panama mine has removed 1.5% of global copper supply, significantly impacting First Quantum's market capitalization [9] - The demand for copper is expected to rise due to its essential role in electric vehicles, renewable energy, and AI-driven infrastructure, suggesting potential upside for First Quantum's stock as it trades at a discount compared to peers [8]