Investing.com – Netherlands stocks were higher after the close on Monday, as gains in the Financials, Oil & Gas and Telecoms sectors led shares higher.
At the close in Amsterdam,...
Investing.com – Netherlands stocks were higher after the close on Monday, as gains in the Financials, Oil & Gas and Telecoms sectors led shares higher.
At the close in Amsterdam, the AEX added 0.33%.
The best performers of the session on the AEX were ABN AMRO Group NV (AS:ABNd), which rose 1.62% or 0.24 points to trade at 15.03 at the close. Meanwhile, Wolters Kluwer (AS:WLSNc) added 1.52% or 2.30 points to end at 153.95 and ASR Nederland NV (AS:ASRNL) was up 1.51% or 0.68 points to 45.62 in late trade.
The worst performers of the session were BE Semiconductor Industries NV (AS:BESI), which fell 3.32% or 3.80 points to trade at 110.55 at the close. ASM International NV (AS:ASMI) declined 2.23% or 11.30 points to end at 496.30 and Universal Music Group NV (AS:UMG) was down 1.90% or 0.44 points to 22.66.
Rising stocks outnumbered declining ones on the Amsterdam Stock Exchange by 56 to 46 and 9 ended unchanged.
The AEX Volatility, which measures the implied volatility of AEX options, was unchanged 0.00% to 21.09.
Crude oil for January delivery was up 2.87% or 1.92 to $68.84 a barrel. Elsewhere in commodities trading, Brent oil for delivery in January rose 2.77% or 1.97 to hit $73.01 a barrel, while the December Gold Futures contract rose 1.68% or 43.25 to trade at $2,613.35 a troy ounce.
EUR/USD was unchanged 0.43% to 1.06, while EUR/GBP unchanged 0.25% to 0.84.
The US Dollar Index Futures was down 0.33% at 106.27.
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ASR Nederland shares climb as UBS upgrades stock to 'buy'
Investing.com -- Shares of ASR Nederland (AS:ASRNL) rose on Monday following an upgrade from UBS, which revised its rating of the stock to "buy" from "neutral."
The brokerage cited several compelling factors, including strong shareholder returns, attractive valuations, and increased potential for further share buybacks.
UBS analysts flagged that ASR’s recent capital actions signal confidence in its financial health and future growth.
Earlier this month, ASR announced a surprise €100 million share buyback program, equivalent to 1% of its market capitalization.
UBS noted that this move reflects ASR's ability to prioritize shareholder returns while maintaining robust solvency ratios.
UBS projects additional annual buybacks of €25 million through 2027, which, along with dividends, could result in a 10% total capital return yield by 2026.
This estimate aligns ASR's yield with sector averages but underscores its potential for long-term gains.
The analysts pointed out ASR's strong solvency position, expecting it to remain above 200% from 2025 onwards, with €1.3 billion in excess capital by 2027.
UBS indicated that this financial flexibility could enable ASR to enhance shareholder payouts further or invest selectively in growth opportunities.
Valuation metrics also favor ASR. The company's current price-to-operating capital generation (P/OCG) multiple of 6.8x is substantially below its historical average of 9.5x.
UBS suggests this disparity implies a potential 40% upside in ASR’s stock price. Moreover, ASR’s 2026 estimated shareholder return yield of 10.3% outpaces its historical average of 7.3%, boosting its attractiveness relative to peers like NN Group (AS:NN).
While ASR faces potential risks from a pending Dutch Supreme Court case related to rental policies, UBS views the downside as limited and notes potential solvency benefits if the ruling is favorable. With a revised price target of €51.50 per share, UBS estimates a 16% upside from current levels.
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You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
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Netherlands stocks lower at close of trade; AEX down 1.37%
Investing.com – Netherlands stocks were lower after the close on Friday, as losses in the Technology, Consumer Goods and Industrials sectors led shares lower.
At the close in Amsterdam, the AEX lost 1.37% to hit a new 3-months low.
The best performers of the session on the AEX were ArcelorMittal SA (AS:MT), which rose 2.04% or 0.48 points to trade at 23.99 at the close. Meanwhile, ASR Nederland NV (AS:ASRNL) added 1.42% or 0.63 points to end at 44.94 and Aegon Ltd (AS:AEGN) was up 0.99% or 0.06 points to 6.11 in late trade.
The worst performers of the session were ASML Holding NV (AS:ASML), which fell 5.45% or 36.60 points to trade at 635.00 at the close. Wolters Kluwer (AS:WLSNc) declined 4.56% or 7.25 points to end at 151.65 and ASM International NV (AS:ASMI) was down 4.08% or 21.60 points to 507.60.
Falling stocks outnumbered advancing ones on the Amsterdam Stock Exchange by 61 to 38 and 13 ended unchanged.
The AEX Volatility, which measures the implied volatility of AEX options, was unchanged 0.00% to 21.09.
Crude oil for December delivery was down 1.82% or 1.25 to $67.45 a barrel. Elsewhere in commodities trading, Brent oil for delivery in January fell 1.57% or 1.14 to hit $71.42 a barrel, while the December Gold Futures contract fell 0.21% or 5.40 to trade at $2,567.50 a troy ounce.
EUR/USD was unchanged 0.22% to 1.06, while EUR/GBP unchanged 0.53% to 0.84.
The US Dollar Index Futures was down 0.07% at 106.53.
Risk Warnings and Disclaimers
You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
Avino Silver & Gold Mines Ltd. ASM reported earnings per share of 4 cents for third-quarter 2024, which beat the Zacks Consensus Estimate for earnings of 2 cents. ASM had reported earnings of 1 cent in the third quarter of 2023. The solid improvement in earnings was aided by higher metal prices and lower costs.
Including one-time items, the company reported earnings per share of 1 cent against the loss of 1 cent per share incurred in the year-ago quarter.
Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.
ASM’s Revenues Gain Y/Y On Higher Prices
Avino Silver’s revenues rose 19% year over year to $14.6 million, attributed to higher average realized metal prices that offset the impact of lower sales volumes. The top line missed the Zacks Consensus Estimate of $14.8 million.
Payable silver equivalent ounces sold were down 3% year over year to 525,003.
Realized silver prices were $29.17 per ounce, up 25.4% year over year. Average realized gold prices were $2,445 per ounce, 27% higher than the year-ago quarter. Average realized copper prices increased 9.3% year over year to $9154 per ton.
Avino Silver Witnesses Improvement in Profits
The cost of sales decreased 10.5% to around $9 million, which was attributed to the depreciation of the Mexican peso compared with the U.S dollar.
Avino Silver reported a mine-operating income of $5.7 million, a 141% jump from $2.4 million in the year-ago quarter on higher sales and lower costs.
The company recorded cash costs of $14.94 per silver equivalent payable ounce, a 12% drop from $16.90 in the year-ago quarter. Consolidated all-in sustaining costs were $22.06 per silver payable equivalent ounce compared with $22.61 in the third quarter of 2023.
General and administrative expenses were $1.46 million, up 13.7% from the third quarter of 2023 due to higher salaries and benefits, owing to increased profit-sharing provisions for employees in Mexico from improved financial performance.
EBITDA surged 442% year over year to $3.8 million.
ASM’s Cash Position
The company generated $4.1 million of cash from operating activities in the third quarter against an outflow of $0.08 million in the year-ago quarter. Avino Silver ended the quarter with $7.8 million of cash in hand, higher than $1.9 million held at the end of the third quarter of 2023.
ASM’s Silver Equivalent Production Increases Y/Y
Avino Silver reported consolidation production of 670,887 silver equivalent ounces, up 13% year over year. The increase was driven by overall grade increases, coupled with mill performance and availability.
ASM produced 281,831 ounces of silver, 1,624 ounces of gold and 1,771,250 pounds of copper in the July-September period. While silver and copper production increased 19% and 55% respectively, gold output was down 22% from the year-ago comparable period.
During the third quarter, Avino Silver analyzed the results of processed La Preciosa historical stockpile material as part of a sampling program. Initial recoveries from the lower-grade material exceeded expectations, suggesting potential upside.
La Preciosa hosts one of the largest undeveloped primary silver resources in Mexico. It is located near the current Avino Mine production operations, which has a mill processing facility and all the necessary infrastructure to enable mineral processing from La Preciosa.
On Jan. 9, 2024, the company signed a long-term land-use agreement with a local community for the development of La Preciosa in Durango, Mexico. ASM is currently in the final stages for seeking approval to move forward with underground development at La Preciosa.
Avino Silver Maintains Production Guidance for 2024
Production is expected between 2.5 million and 2.8 million silver equivalent ounces in 2024.
ASM Stock’s Price Performance & Zacks Rank
Shares of the company have gained 132.2% over the past year compared with the industry’s 48.4% growth.
Avino Silver currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
How Did ASM’s Peers Fare in Q3?
Fortuna Mining Corp. FSM reported third-quarter 2024 adjusted earnings per share of 16 cents, which beat the Zacks Consensus Estimate of 11 cents. The bottom-line figure marked a 60% improvement from the year-ago quarter, driven by higher gold and silver prices, which offset lower sales volumes.
Fortuna Mining’s revenues improved 13% year over year to $275 million, as higher realized gold and silver prices partially offset the decline in gold sales volume. Realized gold price was $2,490 per ounce, 29% higher than $1,925 per ounce in the year-ago quarter. Realized silver prices rose 24% year over year to $29.00 per ounce.
First Majestic Silver AG posted a third-quarter loss of 3 cents per share, which missed the Zacks Consensus Estimate of earnings of 9 cents per share. The company reported a loss of 2 cents per share in the second quarter of 2023.
Total production was 5.5 million silver equivalent ounces, which consisted of around 1.968 million silver ounces and 41,761 gold ounces. This was 13% lower than the year-ago quarter mainly due to lower production at San Dimas.
AG’s quarterly revenues rose 10% year over year to $146 million as a 33% increase in average realized silver price offset lower payable sales volumes.
Pan American Silver Corp. PAAS reported adjusted earnings per share of 32 cents for the third quarter, which beat the Zacks Consensus Estimate of 21 cents. PAAS had posted adjusted earnings per share of 1 cent in the year-ago quarter.
Including one-time items, Pan American Silver reported earnings of 16 cents per share against the year-ago quarter’s loss of 5 cents per share.
PAAS’ revenues improved 16% year over year to $716 million. The top line missed the Zacks Consensus Estimate of $741 million. Silver production was down 4% year over year to around 5.47 million ounces. Gold output dipped 8% to 225,000 ounces.
The average realized silver price increased 27.7% year over year to $29.52 per ounce. The average realized gold price increased 28.4% year over year to $2,475 per ounce.
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Is Avino Silver (ASM) Outperforming Other Basic Materials Stocks This Year?
For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Avino Silver (ASM) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question.
Avino Silver is a member of our Basic Materials group, which includes 235 different companies and currently sits at #13 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Avino Silver is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ASM's full-year earnings has moved 12.5% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, ASM has moved about 109.9% on a year-to-date basis. In comparison, Basic Materials companies have returned an average of -4.3%. This means that Avino Silver is performing better than its sector in terms of year-to-date returns.
Another Basic Materials stock, which has outperformed the sector so far this year, is Triple Flag Precious Metals (TFPM). The stock has returned 21.5% year-to-date.
The consensus estimate for Triple Flag Precious Metals' current year EPS has increased 6.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Avino Silver belongs to the Mining - Silver industry, which includes 9 individual stocks and currently sits at #48 in the Zacks Industry Rank. On average, stocks in this group have gained 27.4% this year, meaning that ASM is performing better in terms of year-to-date returns.
In contrast, Triple Flag Precious Metals falls under the Mining - Gold industry. Currently, this industry has 38 stocks and is ranked #29. Since the beginning of the year, the industry has moved +10.8%.
Investors with an interest in Basic Materials stocks should continue to track Avino Silver and Triple Flag Precious Metals. These stocks will be looking to continue their solid performance.
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Hecla Mining (HL) Q3 Earnings and Revenues Top Estimates
Hecla Mining (HL) came out with quarterly earnings of $0.03 per share, beating the Zacks Consensus Estimate of $0.02 per share. This compares to loss of $0.01 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 50%. A quarter ago, it was expected that this precious metals company would post earnings of $0.01 per share when it actually produced earnings of $0.02, delivering a surprise of 100%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Hecla Mining, which belongs to the Zacks Mining - Silver industry, posted revenues of $245.09 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 7.44%. This compares to year-ago revenues of $181.91 million. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Hecla Mining shares have added about 31% since the beginning of the year versus the S&P 500's gain of 21.2%.
What's Next for Hecla Mining?
While Hecla Mining has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Hecla Mining: favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.03 on $237.61 million in revenues for the coming quarter and $0.07 on $903.46 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Mining - Silver is currently in the top 18% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Avino Silver (ASM), is yet to report results for the quarter ended September 2024. The results are expected to be released on November 12.
This company is expected to post quarterly earnings of $0.02 per share in its upcoming report, which represents a year-over-year change of +100%. The consensus EPS estimate for the quarter has been revised 100% higher over the last 30 days to the current level.
Avino Silver's revenues are expected to be $14.8 million, up 20.1% from the year-ago quarter.
Zacks Investment Research
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