Latest News for Almonty Indus Stock (OTC:ALMTF)

Almonty Industries Inc is engaged in the mining, processing, and shipping of tungsten concentrate from its Los Santos tungsten mine located near Salamanca, Spain - the Los Santos Mine, the processing and shipping of tungsten concentrate from its Panasqueira tin and tungsten mine in Covilha, Castelo Branco, Portugal - the Panasqueira Mine, the evaluation of its Valtreixal tin and tungsten mine project located in Western Spain in the province of Zamora - the Valtreixal Mine, as well as the evaluation and evaluation of its Sangdong tungsten mine project located in Gangwon Province, Republic of Korea - the Sangdong Mine.

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The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

OTC Markets recently released its newest installment of the OTCQX Best 50 list. Released annually, the OTCQX Best 50 is a list of the 50 top-performing companies on the OTCQX Market, its top market tier. 

These Were The 50 Best-Performing Companies On The OTCQX Market In 2020

ALMONTY INDS INC ORD by Almonty Industries Inc.

Almonty Industries Inc

TD Cowen analyst Andrew Charles maintains Domino's Pizza (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DPZ#NYSE">DPZ</a>) with a Buy and raises the price target from $550 to $580.

Price Target

Analyst Ratings

TD Cowen Maintains Buy on Domino's Pizza, Raises Price Target to $580

Needham analyst Quinn Bolton reiterates ON Semiconductor (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>) with a Buy and maintains $92 price target.

Reiteration

Needham Reiterates Buy on ON Semiconductor, Maintains $92 Price Target

PNM Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNM#NYSE">PNM</a>) reported quarterly earnings of $0.41 per share which beat the analyst consensus estimate of $0.40 by 2.5 percent. This is a 25.45 percent decrease over earnings of $0.55 per share from the same period last year. The company reported quarterly sales of $436.877 million which missed the analyst consensus estimate of $530.997 million by 17.73 percent. This is a 19.70 percent decrease over sales of $544.077 million the same period last year.

Earnings

Earnings Beats

Earnings Misses

PNM Resources Q1 2024 Adj EPS $0.41 Beats $0.40 Estimate, Sales $436.877M Miss $530.997M Estimate

<a href="https://www.ft.com/content/aba6592c-0563-4a40-99e3-008282844e26" title="https://www.ft.com/content/aba6592c-0563-4a40-99e3-008282844e26">https://www.ft.com/content/aba6592c-0563-4a40-99e3-008282844e26</a>

Tech

AAPL

GOOG

GOOGL

Financial Times Reported Earlier, Apple Has Poached Dozens Of AI Experts From Google; Created European Lab In Zurich

Editor&#8217;s note: This story was updated with the latest data and layoff reports.
Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), is undergoing its <a href="https://www.benzinga.com/news/24/04/38309742/laid-off-by-tesla-heres-what-you-get-and-cant-do-with-their-severance-offer">biggest workforce reduction</a> ever in a bid to combat slowing demand and falling margins. The company has decided to cut over 10% of its workforce or about 14,000 jobs. But where have the maximum slashings taken place? Benzinga examines using the data (as of April 2024) at hand. 
<h3 class="wp-block-heading">United States</h3>
According to WARN notices filed with the states of Texas and California, Tesla will eliminate 3,332 jobs in California and 2,688 positions in Texas, totaling over 6,000 positions, starting June 14. 
The company will also lay off nearly 700 workers <a href="https://www.benzinga.com/news/24/04/38474900/tesla-to-cut-693-jobs-in-nevada-amid-global-workforce-reduction-government-notice">at Giga Nevada</a>, a lithium-ion battery and electric vehicle component factory, and 285 employees in Buffalo, New York, as per similar notices.
The EV giant will also let go of two senior executives and about 500 people who work in the Supercharger group, as well as Tesla&#8217;s public policy team, as per The Information, which cited an email sent by CEO Elon Musk to senior executives. The overall numbers were not immediately clear.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Region</td>
<td>Job cuts</td>
</tr>
<tr>
<td>California</td>
<td>3,332</td>
</tr>
<tr>
<td>New York</td>
<td>285</td>
</tr>
<tr>
<td>Texas</td>
<td>2,688</td>
</tr>
<tr>
<td>Supercharger team</td>
<td>500&#x2A;</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">&#x2A; conservative estimate</figcaption></figure>
<h3 class="wp-block-heading">Germany</h3>
Tesla&#8217;s Giga Berlin plant in Germany, which currently employs around 12,500 workers, was initially reported to be losing about 3,000 heads. Tesla, however, denied this and said it was planning to cut only around 400 jobs, representing approximately 3% of the factory&#8217;s workforce, according to a Reuters report.&nbsp;
These layoffs come amidst a challenging sales market for electric cars in Europe, prompting Tesla to optimize production efficiency.
See Also:&nbsp;<a href="https://www.benzinga.com/money/everything-you-need-to-know-about-tesla-stock" target="_blank" rel="noreferrer noopener">Everything You Need to Know About Tesla Stock</a>
<h3 class="wp-block-heading">China</h3>
Chinese media <a href="https://en.tmtpost.com/post/7048616">reports</a> suggest that more than 20% of Tesla&#8217;s workforce in the country could be affected by the layoffs, with some departments losing as much as half of their staff.
Tesla China is reportedly offering severance packages ranging from N+1 to N+3 (one month's pay per year of service, plus additional months&#8217; wages).
Giga Shanghai, according to media reports, employs roughly 20,000 workers. An estimated 20% reduction would imply 4,000 job losses, a lot less than in the United States.&nbsp;
When assuming that the known layoffs in other regions — totaling about 7,900 — are final, then Tesla's cuts in China would go up to around 6,100, still lower than in America.
However, it is important to note that corporate layoffs usually happen in several stages over a company's financial calendar year.
Overview of Tesla&#8217;s Global Workforce Reduction
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="683" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/30052254/Tesla-layoffs-updated-4-1024x683.jpg" alt="" class="wp-image-314791" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/30052254/Tesla-layoffs-updated-4-1024x683.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/30052254/Tesla-layoffs-updated-4-300x200.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/30052254/Tesla-layoffs-updated-4-768x512.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/30052254/Tesla-layoffs-updated-4-1536x1024.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/30052254/Tesla-layoffs-updated-4.jpg 1620w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Graphic by: Ramakrishnan M/Benzinga; information updated as of April 30, 2024
Employee Count Back To 2022 Levels?
<figure class="wp-block-image"><img decoding="async" src="https://datawrapper.dwcdn.net/igHeT/full.png" alt="" /></figure>
Why It Matters: Tesla&#8217;s layoffs reflect the broader challenges facing the company, including declining sales, pricing pressures, and the need to optimize production efficiency.&nbsp;
Musk, however, managed to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38402856/tesla-bull-says-elon-musk-delivered-rip-the-band-aid-off-q1-but-cautions-this-could">assuage some investor concerns</a> after a dismal quarterly earnings show by promising to roll out cheaper EV models even as he doubles down on his "blindingly obvious" <a href="https://www.benzinga.com/news/24/04/38424183/tesla-is-betting-big-on-robotaxi-but-this-rival-thinks-elon-musks-vision-could-be-more-than-5-years">robotaxi vision</a> for the company.
Read Next:&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38451359/tesla-investor-touts-ev-giants-billions-mile-leap-in-gathering-self-driving-data-ho" target="_blank" rel="noreferrer noopener">Tesla Investor Touts EV Giant&#8217;s Billions-Mile Leap In Gathering Self-Driving Data: &#8216;How Can Any Automaker Catch Up?&#8217;</a>
Photo via Shutterstock

TSLA

Tesla's Biggest Layoffs Mapped: Has EV Giant Cut More Jobs In America Than Abroad? (UPDATED)

Stifel analyst Paul Matteis initiates coverage on Contineum Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTNM#NASDAQ">CTNM</a>) with a Buy rating and announces Price Target of $29.

Initiation

CTNM

Stifel Initiates Coverage On Contineum Therapeutics with Buy Rating, Announces Price Target of $29

<a href="https://www.sfchronicle.com/tech/article/google-layoffs-development-teams-19429883.php" title="https://www.sfchronicle.com/tech/article/google-layoffs-development-teams-19429883.php">https://www.sfchronicle.com/tech/article/google-layoffs-development-teams-19429883.php</a>

San Francisco Chronicle Reported Monday, Google Has Trimmed Staff Within Various Development Teams In Its Latest Round Of Layoffs, Citing A Spokesperson

Morgan Stanley analyst Michael Ulz initiates coverage on Dyne Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DYN#NASDAQ">DYN</a>) with a Overweight rating and announces Price Target of $40.

Morgan Stanley Initiates Coverage On Dyne Therapeutics with Overweight Rating, Announces Price Target of $40

Morgan Stanley analyst Jeffrey Hung initiates coverage on Contineum Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTNM#NASDAQ">CTNM</a>) with a Overweight rating and announces Price Target of $25.

Morgan Stanley Initiates Coverage On Contineum Therapeutics with Overweight Rating, Announces Price Target of $25

Goldman Sachs analyst Tito Labarta downgrades XP (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XP#NASDAQ">XP</a>) from Buy to Neutral and lowers the price target from $30 to $23.

Downgrades

Goldman Sachs Downgrades XP to Neutral, Lowers Price Target to $23

Health Care

XTNT

Xtant Medical Announced The Full Commercial Launch Of Two Amniotic Membrane Allografts, SimpliGraft And SimpliMax For Chronic And Acute Wounds

Baird analyst Joel Beatty downgrades Geron (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GERN#NASDAQ">GERN</a>) from Outperform to Neutral and maintains $4.5 price target.

GERN

Baird Downgrades Geron to Neutral, Maintains $4.5 Price Target

<a href="https://www.wsj.com/finance/goldman-sachs-general-motors-credit-card-barclays-226d2b02" title="https://www.wsj.com/finance/goldman-sachs-general-motors-credit-card-barclays-226d2b02">https://www.wsj.com/finance/goldman-sachs-general-motors-credit-card-barclays-226d2b02</a>

Wall Street Journal Reported Late Monday, Barclays In Talks To Take Over GM Credit Cards From Goldman, Citing Sources; Deal For Roughly $2B Of Balances Could Be Reached By Summer

AMBA

Neusoft Reach And Ambarella Forge Strategic Partnership To Drive Advancements In Autonomous Driving And Intelligent Automotive Technology

Adidas AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ADDYY#OTC">ADDYY</a>) has seen a surge in sales thanks to its Samba and Gazelle shoes, despite a decline in North American sales.
What Happened: Adidas&#8217; first-quarter sales in Europe and China have contributed to a 14% and 8% increase respectively, while North America, its second-largest market, experienced a 4% decrease, Reuters reported. 
The company&#8217;s sales have been driven by the popularity of its &#8220;terrace&#8221; shoes, including the Samba and Gazelle, following a challenging period after the termination of its lucrative Yeezy shoe line.
Adidas&#8217; CEO, Bjorn Gulden, attributed the strong first-quarter sales to the lifestyle business, with demand for terrace shoes continuing to grow. Footwear revenues increased by 13% over the quarter, despite a 1% drop in Adidas&#8217; shares during early trading.
See Also: <a href="https://www.benzinga.com/news/24/04/38424795/amazon-pauses-green-card-sponsorship-for-foreign-workers-in-2024-amid-layoffs-report?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Amazon Pauses Green Card Sponsorship For Foreign Workers In 2024 Amid Layoffs: Report (UPDATED)</a>
Adidas has capitalized on the weakening of its main U.S. competitor, Nike Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>), which has lost market share and warned of a sales decline. On the sneakerhead marketplace, The Edit LDN, sales of Nike shoes have decreased by approximately 30%, while Adidas shoes, typically lower priced, have surged by 80% from the previous year.
&#8220;It is reassuring to see the broad geographic spread of the sales performance, with the U.S. weak as expected but a much stronger Europe,&#8221; said Adam Cochrane, analyst at Deutsche Bank.
Why It Matters: This surge in Adidas&#8217; sales comes after a challenging period. The company reported a loss in 2023 after ending its Yeezy shoe line, which had been highly profitable. However, the recent sales boost from its terrace shoes has been a significant turnaround for the company.
Adidas&#8217; Q1 results come on the heels of a <a href="https://www.benzinga.com/news/earnings/24/04/38287020/adidas-boosts-outlook-on-strong-q1-results-details">strong start to the year</a>, with an 8% increase in currency-neutral revenues and a 4% growth in euro terms. The company&#8217;s gross margin also improved by 6.4% points to 51.2% during the quarter, compared to 44.8% the previous year.
Despite the challenges, Adidas has been optimistic about its future, <a href="https://www.benzinga.com/news/earnings/24/03/37651392/adidas-kicks-off-2024-with-optimism-targets-growth-amid-inventory-and-currency-challenges">targeting growth</a> amid inventory and currency challenges at the start of 2024. The recent surge in sales, particularly in Europe and China, suggests that the company&#8217;s strategies are indeed paying off.
Read Next: <a href="https://www.benzinga.com/news/24/04/38490818/if-you-invested-1000-in-chipotle-mexican-grill-a-decade-ago-this-is-how-much-itd-be-worth-now?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">If You Invested $1000 in Chipotle Mexican Grill a Decade Ago, This is How Much It&#8217;d Be Worth Now</a>
Image by chinnian on Flickr
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Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>
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The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Learn more.</a>
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Equities

Retail Sales

Global

Markets

ADDYY

Adidas Puts Yeezy History Behind, Rides Fashion High With Samba And Gazelle Shoes

Bristol Myers Squibb gains access to Scenic's Cell-Seq technology platform to unlock the underlying genetic interactions of cellular pathways for undisclosed targets
Scenic to receive an upfront payment and potential additional payments contingent on the achievement of research, development and commercial milestones

Scenic Biotech Enters Into Research Collaboration With Bristol Myers Squibb

Guidance

Adidas Sees FY24 Revenue Growth Of Mid- To High-Single-Digit Rate; Sees Operating Profit Of € 700M

Cathie Wood&#8217;s Ark Invest was on a chip stock buying spree on Monday, and the purchase assumes importance because it came just ahead of Advanced Micro Devices, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) <a href="https://www.benzinga.com/analyst-ratings/price-target/24/04/38498428/amd-q1-earnings-preview-analysts-bullish-but-warn-of-factors-that-can-derail-the-sem">earnings.</a>
What Happened: Ark, through its ARK Autonomous Technology &amp; Robotics ETF (CBOE: ARKQ), added 2,895 shares of AMD, valued at $463,779. AMD has a 1.83% weighting in the exchange-traded fund, which holds just under 100,000 shares of the chipmaker.
AMD is scheduled to report its first-quarter results on Tuesday after the market close, with analysts, on average, estimating earnings of 61 cents per share on revenue of $5.46 billion, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data.</a>
Ark also bought 2,079 shares of Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), the foundry that supplies chips to Nvidia and Apple. Based on the closing price of the NYSE-listed TSMC ADR, the purchase is worth $287,942.
TSMC recently reported a first-quarter beat, riding on AI chip demand.
ARKQ also added 1,061 shares of Qualcomm, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) valued at $79,521. Qualcomm is scheduled to report its quarterly results Wednesday after the market close.
The iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>), which tracks the performance of the Philadelphia Semiconductor Index, added 0.76% on Monday. For the year, the ETF has gained about 15%.
See Also: <a href="https://www.benzinga.com/money/best-etfs">Best ETFs To Buy Right Now</a>
BYD Buying Continues: Ark continued to add ADRs of Warren Buffett-backed Chinese electric vehicle startup BYD Co. Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>). On Monday, ARKQ picked up 5,087 ADRs worth $281,567. This comes on top of the <a href="https://www.benzinga.com/markets/equities/24/04/38477354/cathie-woods-ark-invest-hoards-palantir-stock-ahead-of-q1-earnings-adds-more-of-this-buffett-bac">$1.69 million worth of the company&#8217;s ADRs the firm bought last week.</a>
Ark&#8217;s flagship Ark Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>) ended Monday&#8217;s session up 2.41% at $45.13, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data.</a>
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38509278/cathie-woods-ark-invest-scoops-up-over-4m-worth-of-palantir-meta-platforms-shares">Cathie Wood&#8217;s Ark Invest Scoops Up Over $4M Worth Of Palantir, Meta Platforms Shares</a>

Long Ideas

Specialty ETFs

Trading Ideas

ETFs

ARKK

ARKQ

BYDDF

BYDDY

QCOM

iShares PHLX SOX Semiconductor Sector Index Fund

SOXX

Cathie Wood's Ark Goes Chip-Stock Shopping Ahead Of AMD Earnings, Adds More Of Warren Buffett-Backed Chinese EV Play

adidas (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ADDYY#OTC">ADDYY</a>) reported quarterly earnings of $1.04 per share. This is a 1140 percent increase over losses of $(0.10) per share from the same period last year. The company reported $5.94 billion in sales this quarter. This is a 4.88 percent increase over sales of $5.66 billion the same period last year.

adidas Q1 EPS $1.04 Up From $(0.10) YoY, Sales $5.94B Up From $5.66B YoY

The property is located in a highly trafficked corridor in Pennsylvania under a triple net lease with approximately ten years of term remaining. The transaction was priced at a&nbsp;7.1%&nbsp;cap rate on rent as of the closing date and exclusive of transaction costs.

FCPT

Reported Earlier, Four Corners Property Trust Acquires Patient First Urgent Care Property For $6.6M

Almonty to receive the $13.7M sixth drawdown from KfW IPEX-Bank

Press Releases

Plans to Reopen Los Santos Mine Utilizing Our Flotation Technology Developed for Our Sangdong Tungsten Mine

Construction Update at Sangdong Tungsten Mine

Almonty Partners with Korea Telecom to Revolutionize Mine Safety While Also Demonstrating Commitment to ESG Compliance

Almonty Provides Sangdong Mine Construction Update

Almonty Placement of Common Share Units and CDI's raises C$500,000, US$733,333 and A$550,000

Almonty Announces the Filing of Its Unaudited Interim Condensed Consolidated Financial Statements and MD&A for the Nine Months Ended September 30, 2023 and $1.74M in Positive EBITDA From Mining Operations(1)

Almonty to Receive the US$13.7 Million Sixth Drawdown from KfW IPEX-Bank

Almonty Industries Inc. - Placement of Common Share Units and CDI's raises C$1.47 million1 with Further Commitments of C$1.178 million for acceleration of Tungsten downstream planning and Molybdenum reserves conversion.

Almonty Announces the Filing of Its Annual Audited Consolidated Financial Statements, MD&A and AIF for the Year Ended December 31, 2023 and $2.2M in Positive EBITDA From Mining Operations(1).

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Latest News for Almonty Indus Stock (OTC:ALMTF)

Friday, February 19, 2021

Tuesday, March 24, 2020