Group 1 - Almonty Industries Inc. (ALM) is a notable stock within the Basic Materials sector, which includes 254 companies and ranks 1 in the Zacks Sector Rank [2] - The Zacks Rank system, which focuses on earnings estimates and revisions, currently rates Almonty Industries Inc. as 2 (Buy) [3] - Almonty Industries has seen a significant increase in the Zacks Consensus Estimate for its full-year earnings, rising by 37.8% in the past quarter, indicating improved analyst sentiment [4] Group 2 - Year-to-date, Almonty Industries has returned approximately 68.3%, outperforming the average return of 19.8% for Basic Materials companies [4] - Almonty Industries belongs to the Mining - Miscellaneous industry, which has 73 stocks and ranks 46 in the Zacks Industry Rank, with an average gain of 21.3% this year [6] - Investors should monitor Almonty Industries and Algoma Steel Group Inc. as they are expected to maintain strong performance in the Basic Materials sector [7]

Core Insights - Steel Dynamics, Inc. (STLD) reported Q4 2025 earnings of $1.82 per share, an increase from $1.36 year-over-year, surpassing the Zacks Consensus Estimate of $1.72 [1] - Net sales for the quarter reached $4,414 million, a 14% year-over-year increase, but fell short of the Zacks Consensus Estimate of $4,539.1 million [1] Segment Highlights - Steel operations net sales were $3,141.4 million, up approximately 18.7% year-over-year, with steel shipments of about 3.3 million tons, exceeding the consensus estimate of 3.29 million tons [1] - The average external product selling price for steel was $1,107 per ton, up from $1,011 year-over-year, but down from $1,119 in the previous quarter, beating the consensus estimate of $1,092 per ton [2] - Metal recycling operations reported net sales of $463 million, down around 4% year-over-year, with ferrous shipments of approximately 1.52 million gross tons, up roughly 7% year-over-year, surpassing the consensus of 1.44 million gross tons [3] - Steel fabrication operations had sales of about $347.3 million, down roughly 12.3% year-over-year, with shipments of 138,375 tons, down around 5.2% year-over-year, missing the consensus estimate of 142,000 tons [4] Financial Position - Steel Dynamics ended the quarter with cash and cash equivalents of $769.9 million, a 31% increase year-over-year, while long-term debt rose to $4,176.5 million, up roughly 49% [5] - Cash flow from operations was $272.7 million, down approximately 21.4% year-over-year [5] Outlook - The company anticipates improved trade conditions and a favorable interest rate environment to bolster steel and aluminum demand, with a growing interest in low-carbon, U.S.-made metals [6] - Progress is being made on the commissioning and start-up of the Columbus aluminum flat rolled mill and San Luis Potosí slab center, with expectations for strong long-term growth and value creation [6] Price Performance - Steel Dynamics shares have increased by 48.6% over the past year, compared to a 59.1% rise in its industry [7]

(Exact name of registrant as specified in its charter) Cayman Islands 6770 98-1880768 (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) As filed with the U.S. Securities and Exchange Commission on January 9, 2026. Registration No. 333-292320 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 1 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Legato Merger Corp. IV (I.R.S. Employer Iden ...

Core Viewpoint - Algoma Steel Group Inc. has successfully completed a $500 million financing transaction with the Governments of Canada and Ontario to support its Electric Arc Furnace (EAF) transformation and enhance financial flexibility [1][4]. Financing Details - The financing consists of $400 million from the Canada Enterprise Emergency Funding Corporation (CEEFC) and $100 million from the Province of Ontario, with specific secured tranches included [2]. - Algoma issued 6.77 million common share purchase warrants to CEEFC and Ontario, each exercisable for one common share at an exercise price of $11.08 for a 10-year term [2]. Strategic Importance - The seven-year facilities are designed to strengthen Algoma's balance sheet and provide financial flexibility as the company advances its EAF transformation and seeks to diversify its business [3]. - The financing is expected to support operational efficiency, cash generation, and the company's plate-first commercial strategy [4]. Environmental Commitment - Algoma's transition to EAF technology is part of one of North America's largest industrial decarbonization initiatives, aiming to reduce carbon emissions by approximately 70% once fully transitioned [8]. - The new brand Volta™ will represent all steel produced through Algoma's EAF technology, emphasizing lower emissions and sustainable production [9]. Industry Position - Algoma is positioned as a leading Canadian producer of high-quality plate and sheet steel products, supporting critical sectors such as energy, defense, automotive, shipbuilding, and infrastructure [6]. - The company is committed to building a greener future and strengthening domestic supply chains through its modernization efforts [7].

Financial Performance - Q3 2025 shipping volume was 419K NT, a decrease of 19% compared to 520K NT in Q3 2024 and a decrease of 11% compared to 472K NT in Q2 2025[21] - Steel revenue in Q3 2025 was $473 million, down 12% from $539 million in Q3 2024 and down 11% from $534 million in Q2 2025[21] - Adjusted EBITDA for Q3 2025 was $(87) million, a decrease of $91 million from $4 million in Q3 2024 and a decrease of $55 million from $(32) million in Q2 2025[21] - Net loss in Q3 2025 was $(485) million, a decrease of $378 million from $(107) million in Q3 2024 and a decrease of $374 million from $(111) million in Q2 2025[21] - Adjusted EBITDA margin for Q3 2025 was -166%[21] Strategic Initiatives - The company is accelerating the retirement of blast furnace and coke oven operations as it ramps up EAF production through 2025 and 2026[28] - The company achieved first heat for EAF 1 in July 2025[37] - Construction is progressing on EAF 2, with commissioning activities expected in early 2026[37] Market Factors - Steel tariffs of 50% persist on imported steel into the US[34] - There is a current oversupply in the Canadian coil market due to the US market being cut off from Canadian steel mills[34] Safety - The company is implementing an ISO 45001 Safety Management System to further improve health and safety performance[17]

Core Thesis - Algoma Steel Group Inc. (ASTL) is positioned as a compelling investment opportunity due to its unique status as the only fully leveraged Canadian steel platform capable of meeting the country's growing infrastructure demands [3][4][6] Financial Metrics - As of October 3rd, ASTL's share price was $3.31, with trailing and forward P/E ratios of 14.30 and 9.12 respectively [2] - The stock is currently trading at $4.73, significantly below its estimated replacement cost of $3.4–5.8 billion, which translates to a potential share value of $22–45 net of liabilities [5] Market Position and Demand Drivers - The company benefits from a predictable, multi-year domestic steel demand driven by government-backed infrastructure programs, including the National Shipbuilding Strategy and various transportation projects [4] - A Memorandum of Understanding (MoU) with Seaspan to source steel domestically for shipbuilding further supports the demand outlook and reduces logistical risks [4] Asset Valuation and Upside Potential - ASTL's balance sheet reveals hidden assets valued between $86 million and $425 million, indicating substantial upside potential [5] - The stock trades at just 0.53× book value and 0.44× base-adjusted book value, providing a significant margin of safety for investors [5] Risks and Mitigation - While there are downside risks related to tariffs and project timing, these are considered temporal rather than terminal, suggesting that the long-term investment case remains strong [6] - The combination of undervalued hard assets and imminent infrastructure catalysts positions Algoma Steel favorably for future growth [6]

Core Insights - Steel Dynamics reported quarterly earnings of $2.74 per share, exceeding the Zacks Consensus Estimate of $2.66 per share, and showing an increase from $2.05 per share a year ago, representing an earnings surprise of +3.01% [1] - The company achieved revenues of $4.83 billion for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 2.93% and up from $4.34 billion year-over-year [2] - Steel Dynamics shares have increased by approximately 25.1% since the beginning of the year, outperforming the S&P 500's gain of 13.3% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $2.51 on revenues of $4.6 billion, while for the current fiscal year, the estimate is $8.90 on revenues of $18.22 billion [7] - The estimate revisions trend for Steel Dynamics was mixed prior to the earnings release, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [6] Industry Context - The Zacks Industry Rank places Steel - Producers in the bottom 37% of over 250 Zacks industries, suggesting that the industry's outlook could significantly impact the stock's performance [8] - Another company in the same industry, Algoma Steel Group Inc., is expected to report a quarterly loss of $0.70 per share, with a year-over-year change of +2.8%, and its revenue is projected to decline by 16.6% from the previous year [9]

But the shift toward more protectionism in the Americas — a reversal from decades of globalization and close cross-border ties in the region — may not convince Trump to budge. While some countries have won tariff cuts and exemptions for certain goods, the US president has cast duties on steel as key to protecting national security and boosting domestic production of the alloy. His trade policies are bolstering the steel industry in the US while pummeling producers abroad, reshaping supply chains as companie ...

Market Performance - U.S. equity markets are showing a mixed but generally positive performance, with major indexes holding steady as investors weigh a robust retail sales report against an anticipated Federal Reserve policy meeting [1][3] - The Dow Jones Industrial Average (DJI) gained 0.10% to reach 45,881.91, the Nasdaq Composite (IXIC) increased by 0.80% to 22,318.03, and the S&P 500 (SP500) rose 0.43% to 6,612.52 [2] Corporate Developments - CoreWeave (CRWV) shares surged by 7.6% after Nvidia (NVDA) placed an order valued at "at least" $6.3 billion for its cloud technology, indicating strong demand in the AI sector [4] - Dave & Buster's Entertainment (PLAY) saw a sharp decline of 18.8% in pre-market trading after reporting earnings that fell short of expectations, with a 3% drop in same-store sales [5] - Seagate Technologies (STX) rallied 7.7% following an upgraded price target from Bank of America, reflecting renewed analyst confidence [6] - Live Nation Entertainment (LYV) dipped amid reports of an FTC investigation into bots on its platforms, introducing regulatory uncertainties [7] - Alaska Air Group (ALK) stock fell 6.7% as the airline projected profits at the lower end of estimates due to rising fuel costs and a technology outage [7] Upcoming Events - The Federal Open Market Committee (FOMC) meeting is set to begin, with widespread expectations of an interest rate cut [9][10] - Key economic data releases include the August New Residential Construction report and Initial Unemployment Insurance Claims report, which will provide insights into the housing market and labor market trends [11] - FedEx Corp. (FDX) is scheduled to report its quarterly earnings, which could serve as a bellwether for global trade and logistics [12]

Core Viewpoint - Steel Dynamics reported quarterly earnings of $2.01 per share, missing the Zacks Consensus Estimate of $2.05 per share, and down from $2.72 per share a year ago, indicating a -1.95% earnings surprise [1] - The company posted revenues of $4.57 billion for the quarter, missing the Zacks Consensus Estimate by 1.34% and down from $4.63 billion year-over-year [2] Financial Performance - Over the last four quarters, Steel Dynamics has surpassed consensus EPS estimates three times [2] - The company has topped consensus revenue estimates two times over the last four quarters [2] - The current consensus EPS estimate for the upcoming quarter is $3.04 on revenues of $4.67 billion, and for the current fiscal year, it is $9.74 on revenues of $18.26 billion [7] Stock Performance - Steel Dynamics shares have increased approximately 15.4% since the beginning of the year, outperforming the S&P 500's gain of 7.1% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Industry Outlook - The Zacks Industry Rank places Steel - Producers in the bottom 14% of over 250 Zacks industries, suggesting potential challenges ahead [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Steel Dynamics' stock performance [5]