Electra Battery Materials Corporation (ELBM) Upgraded to Buy: Here's What You Should Know
11:00 am ET August 23, 2023 (Zacks) Print
Electra Battery Materials Corporation (ELBM) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.
The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.
The power of a changing earnings picture in determining near-term stock price movements makes the Zacks rating system highly useful for individual investors, since it can be difficult to make decisions based on rating upgrades by Wall Street analysts. These are mostly driven by subjective factors that are hard to see and measure in real time.
As such, the Zacks rating upgrade for Electra Battery Materials Corporation is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price.
Most Powerful Force Impacting Stock Prices
The change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.
For Electra Battery Materials Corporation, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company's underlying business. And investors' appreciation of this improving business trend should push the stock higher.
Harnessing the Power of Earnings Estimate Revisio
Excelsior Mining Provides Litigation Update
Phoenix, Arizona--(Newsfile Corp. - September 2, 2022) - Excelsior Mining Corp. (TSX: MIN) (FSE: 3XS) (OTCQX: EXMGF) ("Excelsior" or the "Company") announces that the British Columbia Supreme Court, in MM Fund v. Excelsior Mining Corp. 2022 BCSC 1541, a purported class action brought by MM Fund, has granted the application by Excelsior to strike MM Fund's certification application and further ordered MM Fund to remove all pleadings relating to advancing a class proceeding against Excelsior. Excelsior was awarded its costs of the application in any event of the cause. MM Fund's action may continue as an individual claim; however, MM Fund has been found to be incapable advancing the action as a class proceeding.
ABOUT EXCELSIOR MINING
Excelsior "The Copper Solution Company" is a mineral exploration and production company that owns and operates the Gunnison Copper Project in Cochise County, Arizona. The project is a low cost, environmentally friendly in-situ recovery copper extraction project that is permitted to 125 million pounds per year of copper cathode production. Excelsior also owns the past producing Johnson Camp Mine and a portfolio of exploration projects, including the Peabody Sill and the Strong and Harris deposits.
For more information on Excelsior, please visit our website at www.excelsiormining.com.
For further information regarding this press release, please contact:
Excelsior Mining Corp.
No question about it. I have noticed over the years my subs have transition into 90% of their equip. are battery power (lithium) saws, drills chain saws etc. and they all work great. I saw they even have riding mowers available. Low supply, high demand.. And thats a tiny segment of lithium, CU, Cobalt etc. market.