Latest news for GGX Gold (OTC:GGXXF) Stock

GGX Gold Corp is a Canada-based company. It is involved in the industrial metals and minerals business sector. The activities of the company consist of the acquisition, exploration, and development of mineral properties. The company has one project known as Gold Drop. It explores for gold, Tellurium, and silver properties.

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CURE PHARMA HLDG CORP by CURE Pharmaceutical Holding Corp.

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RIGHT ON BRANDS INC by Right On Brands, Inc.

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Stocks That Hit 52-Week Lows On Wednesday

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BLUEBIRD BATTERY METALS by Bluebird Battery Metals Inc.

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SMOKE CARTEL INC (A) by Smoke Cartel, Inc.

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China Rapid Finance Limited American Depositary Shares, each representing one Class A Ordinary Share

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GGX Gold Corp

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American Battery Technology shares are trading lower after the company announced it was selected for a $150 million competitive grant.

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Ocean Power Technologies shares are trading higher after the Biden-Harris Administration announced a $112.5 million investment in marine energy.

Restaurant Brands (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/qsr#NYSE">QSR</a>)&nbsp;owns massive fast-food chains like Burger King, Popeyes, and Tim Hortons. The company has&nbsp;received approval for its share buyback program, under which it will be able to repurchase up to 10% or $500 million worth of its outstanding shares over the next year. Let&#39;s explore&nbsp;what this announcement really means and compare the company to the competition on key metrics.
<h2>Repurchases: Better to Have and Not Need Than the Other Way Around</h2>
Should the company decide to use its buyback capabilities, it would benefit shareholders. Share buybacks support the earnings-per-share (EPS) of a company by lowering the share count. This also means each share that continues to be outstanding is worth a larger percentage of the overall company.
Counterintuitively, it&#39;s likely a better overall outcome for shareholders if the buyback program is not used. This is because the company is only likely to initiate buybacks if the share price falls significantly. The company started buying back shares in Oct. 2023, when the stock price had fallen nearly 10% in two weeks. This helped support the stock price at that time.
Since then, outstanding shares have climbed to their highest level in the past year, while the share price has been flat. More than anything, this announcement shows the firm&#39;s willingness to step in to help prevent the stock price from dropping rapidly.
Although it might not be the flashiest thing in the world, it clearly provides benefits to shareholders. Ideally, they won&#39;t need to use it. This can be understood better by exploring the phrase, &quot;it will be able to repurchase up to 10% or $500 million worth of its outstanding shares.&quot;
This means the company can repurchase the lesser (or equal) of these two figures, depending on its market capitalization. Based on its current market cap of $32 billion, $500 million represents 1.5% of the company&#39;s outstanding shares. So, for the company to repurchase 10% of its shares, the market cap would have to be $5 billion.
That could only happen if shares declined by 84%, a result that obviously no shareholder wants. However, the company can still use the repurchases strategically to support the share price when it starts falling modestly, which is a much more likely outcome. It&#39;s imperative to examine the current state of Restaurant Brands outside of this announcement.
<h2>Rate Cuts Are Good News for Non-Essential Goods</h2>
There are other things to like about Restaurant Brands. The company operates in the consumer discretionary sector, where the goods sold are considered non-essential. With impending interest rate cuts, firms in the consumer discretionary sector can benefit. The CME FedWatch Tool now projects a 62% probability of the Federal Reserve dropping interest rates by 50 basis points at its Sept. 18 meeting.
Additionally, by the Dec. 18 meeting, there is nearly a two-thirds probability that rates will fall by 120 basis points or more from current levels. This drop in rates can allow people to refinance their home loans and lower their monthly payments. By doing this, they can spend less on essentials like housing and have more money to spend on non-essential goods.
One analyst is particularly bullish on the company. RBC raised its price target for Restaurant Brands a week ago to $95. The current price of around $70 implies an upside of 36%.
<h2>Comparative Analysis: Restaurant Brands Shows Favorable Signs</h2>
Compared to other&nbsp;restaurant stocks, the company looks encouraging in several metrics. Its forward-looking dividend yield of 3.3% is significantly above that of most other U.S. and Canadian quick-service restaurant (QSR) stocks. Its forward price-to-earnings (P/E) ratio of 19.3x is below average compared to a peer group of nine U.S. and Canadian QSR firms with market capitalizations of at least $2 billion.
Also, the company has done well in an environment where other QSR firms are struggling to grow revenues. The compound annual growth rate (CAGR) of more than 10% over the past two years exceeds the 7% average for this group. It&#39;s also twice that of the biggest player in the space, McDonald&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mcd#NYSE">MCD</a>), which has had a 5% revenue CAGR over the same period.
Forecasts for EPS growth over the next two years also look good at a CAGR of 14%, above the 11.5% average for these nine firms.
The article &quot;<a href="https://www.marketbeat.com/originals/what-buybacks-and-lower-rates-could-mean-for-restaurant-brands/">What Buybacks and Lower Rates Could Mean for Restaurant Brands</a>&quot; first appeared on MarketBeat.

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What Buybacks and Lower Rates Could Mean for Restaurant Brands

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Sharps Technology shares are trading lower after the company announced that it has entered into definitive agreements with institutional investors for a secured bridge loan financing of approximately $3.5 million.

Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) <a href="https://www.benzinga.com/money/bitcoin-price-prediction">breakout to $64,000</a> has been fueled by several reasons, according to a new Bernstein analyst note.
What Happened: The analysts cite rate cuts, bipartisan crypto support, Bitcoin ETF momentum, miner stability post-halving, and reduced selling pressure as catalysts for Bitcoin&#8217;s 9% seven-day spike. Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) has shown even stronger performance, up 17% on the week.
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<li>Rate cuts and fiscal policy: The <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40937057/bitcoin-ethereum-etfs-see-over-50m-net-outflows-despite-feds-50-bps-rate-cut">50-basis point rate cut</a>, and record-high gold prices have bolstered Bitcoin as an alternative asset. Bernstein notes that "Any signal of loose monetary policy and potentially weaker dollar, is positive for Bitcoin." Year-to-date (YTD), Bitcoin is up 45%, compared to gold's 27%.</li>
<li>Bipartisan crypto support: Both Kamala Harris and Donald Trump have signalled support for digital assets, though the crypto community seeks <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40972902/kamala-harris-finally-mentions-crypto-and-that-too-on-wall-street-promises-to-encourage-in">more policy clarity</a> from Harris given the current administration&#8217;s mixed track record.</li>
<li>Bitcoin ETF momentum: Despite price volatility, <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40976413/bitcoin-etf-surge-in-pre-market-as-king-crypto-hits-63-500">Bitcoin ETF inflows</a> remain positive, totalling $17 billion to date. Bernstein expects &#8220;re-acceleration of inflows&#8221; as more wirehouses approve the products.</li>
<li>Miner stability post-halving: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40985461/china-controls-55-of-bitcoin-hashrate-despite-crypto-ban-but-the-us-is-catching-up">Bitcoin network hash power</a> has rebounded to pre-halving levels around 630 EH/s, indicating miners have adjusted to reduced block rewards.</li>
<li>Reduced selling pressure: Major bitcoin sales by the German and U.S. governments have concluded, while MicroStrategy raised $2.1 billion to acquire more Bitcoin taking its holdings to 252,220 BTC (~1.3% of Bitcoin's total supply).</li>
</ul>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40985125/bitcoins-on-chain-metrics-are-turning-bullish-what-is-going-on">Bitcoin&#8217;s On-Chain Metrics Are Turning Bullish: What Is Going On?</a>
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/ "><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/29155259/905735A6-57D3-4874-9AA1-75D037842DB3-2.gif" alt="Benzinga Future of Digital Assets conference" class="wp-image-270548" /></a></figure>
Why It Matters: Bernstein sees potential upside for Bitcoin mining stocks, which have underperformed year-to-date. The analysts highlight opportunities in pure-play Bitcoin miners like Core Scientific (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CORZ#NASDAQ">CORZ</a>), Riot Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>), CleanSpark (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLSK#NASDAQ">CLSK</a>) and Marathon Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) that may be poised for a rebound.
The report also notes continued strength in crypto-exposed stocks like MicroStrategy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) is noted as &#8220;the most direct and largest market cap &#8211; leveraged equity proxy on Bitcoin price,&#8221; while Robinhood (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) is benefiting from increased crypto trading revenues.
As the crypto market digests these bullish factors, Bernstein&#8217;s analysis suggests the rally may have room to run, particularly if institutional adoption continues to grow through ETFs and other investment vehicles.
What&#8217;s Next: The influence of&nbsp;<a href="https://www.benzinga.com/money/is-bitcoin-a-good-investment" target="_blank" rel="noreferrer noopener">Bitcoin as an institutional asset class</a>&nbsp;is expected to be thoroughly explored at Benzinga&#8217;s upcoming&nbsp;<a href="https://www.benzinga.com/events/digital-assets/agenda/" target="_blank" rel="noreferrer noopener">Future of Digital Assets</a>&nbsp;event on Nov. 19.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40938429/raoul-pals-chief-crypto-analyst-says-the-bull-market-is-back-when-this-indicator-hits-45-i">Raoul Pal&#8217;s Chief Crypto Analyst Says The Bull Market Is Back When This Indicator Hits 45% (It&#8217;s Now At 11%)</a></li>
</ul>
Image: Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

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Core Scientific, Inc. - Class A Common Stock

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5 Reasons Why Bitcoin Rallied 10% In 7 Days To $63K: Bernstein

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Gorilla Technology Group shares are trading higher after the company announced a strategic cooperation agreement with CS Energy Technology.

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Latest news for GGX Gold (OTC:GGXXF) Stock

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