Latest news for Capstone Copper (OTC:CSCCF) Stock

Capstone Copper Corp is a company that mines, explores, and develops mineral properties in the Americas. Specifically, the group has operating mines in the us, Mexico, and Canada, and development projects in Chile and Canada. The company's main focus is copper, but the company also produces zinc, lead, molybdenum, silver, and gold. The company has six reportable segments which are Pinto Valley (us), Mantos Blancos (Chile), Mantoverde (Chile), Cozamin (Mexico), as well as the Santo Domingo development project (Chile), and Other.

Copper,Cathodes,Loaded,On,A,Train,In,A,Copper,Mine

News

Financing

Commodities

Global

CSCCF

Capstone Copper Corp. and Orion Mine Finance arranged a CA$375 million bought deal with RBC Capital Markets, expected to close on Feb. 8, 2024.

Capstone Copper Announces Multimillion-Dollar Financing To Support Its Chilean Expansion

CAPSTONE COPPER CORP by CAPSTONE COPPER CORP.

Capstone Copper Corp

Benchmark analyst Todd Brooks reiterates Chuy's Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHUY#NASDAQ">CHUY</a>) with a Buy and maintains $41 price target.

Price Target

Reiteration

Analyst Ratings

CHUY

Benchmark Reiterates Buy on Chuy's Holdings, Maintains $41 Price Target

BMO Capital analyst James Fotheringham maintains Synchrony Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYF#NYSE">SYF</a>) with a Market Perform and lowers the price target from $42 to $41.

BMO Capital Maintains Market Perform on Synchrony Finl, Lowers Price Target to $41

WIIM

DOCS

Doximity shares are trading lower after Wells Fargo downgraded the stock from Equal-Weight to Underweight and lowered its price target from $27 to $19.

Jefferies analyst Suneet Kamath maintains Brighthouse Finl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BHF#NASDAQ">BHF</a>) with a Buy and raises the price target from $54 to $59.

Brighthouse Financial, Inc. - Common Stock

Jefferies Maintains Buy on Brighthouse Finl, Raises Price Target to $59

BMO Capital analyst Kostas Biliouris maintains 4D Molecular Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FDMT#NASDAQ">FDMT</a>) with a Outperform and lowers the price target from $63 to $40.

FDMT

BMO Capital Maintains Outperform on 4D Molecular Therapeutics, Lowers Price Target to $40

Benchmark analyst Daniel Kurnos reiterates Airbnb (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABNB#NASDAQ">ABNB</a>) with a Buy and maintains $190 price target.

ABNB

Benchmark Reiterates Buy on Airbnb, Maintains $190 Price Target

BMO Capital analyst Fadi Chamoun maintains CAE (TSX:<a class="ticker" href="https://www.benzinga.com/stock/CAE#TSX">CAE</a>) with a Outperformer and lowers the price target from C$34 to C$33.

TSX:CAE

BMO Capital Maintains Outperformer on CAE, Lowers Price Target to C$33

Jefferies analyst Trevor Williams maintains Corpay (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPAY#NYSE">CPAY</a>) with a Buy and raises the price target from $295 to $350.

CPAY

Jefferies Maintains Buy on Corpay, Raises Price Target to $350

BMO Capital analyst Fadi Chamoun maintains Air Canada (TSX:<a class="ticker" href="https://www.benzinga.com/stock/AC#TSX">AC</a>) with a Outperform and lowers the price target from C$32 to C$30.

TSX:AC

BMO Capital Maintains Outperform on Air Canada, Lowers Price Target to C$30

The European Central Bank (ECB) kept its key interest rates unchanged at its July meeting, <a href="https://www.benzinga.com/markets/eurozone">aligning with market expectations.</a>
The Governing Council did not provide specific guidance on future policy, stating they were &#8220;not pre-committing to a particular rate path,&#8221; slightly chilling market expectations which are heavily betting on a September rate cut.
The deposit rate remains at 3.75%, the refinancing rate at 4.25%, and the marginal lending rate at 4.5%. These rates were previously reduced by 25 basis points during the June meeting, marking the first rate cut by the ECB since 2019.
Domestic Price Pressures, Services Inflation Remain Elevated
Although some measures of underlying inflation ticked up in May due to one-off factors, most metrics were either stable or edged down in June. The inflationary impact of high wage growth has been mitigated by profits, and monetary policy continues to keep financing conditions restrictive, according to Frankfurt. 
However, &#8220;domestic inflation remains high. Wages are still rising at an elevated rate, making up for the past period of high inflation,&#8221; ECB President Christine Lagarde stated.
Services inflation is considered elevated, and headline inflation is likely to stay above the ECB&#8217;s target well into next year.
Meeting By Meeting, Data-Dependent Approach
&#8220;The risks to economic growth are tilted to the downside. A weaker world economy or an escalation in trade tensions between major economies would weigh on euro area growth,&#8221; Lagarde said. 
The ECB remains determined to ensure that inflation returns to its 2% medium-term target in a timely manner. European policymakers stated they will keep policy rates sufficiently restrictive for as long as necessary to achieve this goal, following a data-dependent and meeting-by-meeting approach.
Market Reactions
The euro, as tracked by the Invesco CurrencyShares Euro Currency Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXE#NYSE">FXE</a>), held broadly steady against the U.S. dollar at 1.0930. 
European equity markets rose Thursday, with the broader Euro STOXX 50 Index, as tracked by the SPDR DJ Euro STOXX 50 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FEZ#NYSE">FEZ</a>), rose 0.7%. France was the top performer among major European countries, with the CAC 40 index, as monitored through the iShares MSCI France Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWQ#NYSE">EWQ</a>), rising 0.9%. 
Read now: 
<ul>
<li><a href="https://www.benzinga.com/real-estate/reit/24/07/39816656/fed-rate-cut-expectations-drop-mortgage-rates-to-4-month-lows-surge-in-new-applications-refinanc">Fed Rate Cut Expectations Drop Mortgage Rates To 4-Month Lows: Surge In New Applications, Refinance Demand</a></li>
</ul>
Photo: Shutterstock

Macro Economic Events

Eurozone

Econ #s

Economics

European Central Bank Holds Interest Rates Unchanged, Keeps Markets Guessing On September Rate Cut

Warner Bros Discovery Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) shares are trading higher after reports of a significant restructuring that could <a href="https://www.benzinga.com/topic/streaming">separate its digital streaming</a> and studio businesses from its traditional television networks.
What Happened: The David Zaslav-led entertainment company looks to bolster its struggling share price and manage its substantial debt load of $39 billion. 
According to the <a href="https://www.ft.com/content/be716ec2-1c02-467c-94af-7c8ef9ae1963">Financial Times</a>, Zaslav — who, as CEO, enjoyed a 27% increase <a href="https://www.benzinga.com/markets/equities/24/04/38338904/warner-bros-discovery-ceos-pay-soars-in-2023-amid-industry-challenges">in pay for 2023</a> and angered fans by <a href="https://www.indiewire.com/news/business/david-zaslav-took-courage-cancel-completed-movies-batgirl-coyote-vs-acme-1234930539/">canceling</a> movies already in post-production — is eager to sell assets.
A spin-off Warner Bros. studio and the Max streaming service into a new company is also being discussed. This company would be largely free of the group&#8217;s current debt. 
The media giant has not yet hired an investment bank to advise the process. 
Also, informal talks with advisors to rival media companies have taken place to gauge interest in potential mergers and acquisitions. 
Previous considerations included combinations with Comcast Corp&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>) NBCUniversal and Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>), the latter of which has recently <a href="https://www.benzinga.com/general/entertainment/24/07/39658163/paramount-board-endorses-merger-with-skydance-media-as-david-ellison-nears-acquisition-of-m">merged with David Ellison's Skydance</a>.
Also Read: <a href="https://www.benzinga.com/general/gaming/24/07/39717603/warner-bros-subsidiary-postpones-suicide-squad-kill-the-justice-league-season-2-at-last-minute">Warner Bros. Subsidiary Postpones Suicide Squad: Kill The Justice League Season 2 At Last Minute</a>
Why It Matters: A company split could have severe repercussions for bondholders, Bank of America analysts say. 
A similar move by rival Lionsgate led to a creditor revolt.
A strategic spin-off could leave the more mature television assets with the bulk of the debt, while the growing streaming and studio business would have greater financial flexibility.
WBD&#8217;s shares have plummeted nearly 70% since AT&amp;T Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) spun off Warner Bros and merged it with Discovery two years ago.
The company has faced declining advertising revenue, high streaming development costs, the COVID-19 pandemic, Hollywood strikes, and costly failures. 
Despite cost-cutting measures and debt repayments, the stock dropped 10% in February.
BofA analyst Jessica Reif Ehrlich recently suggested that WBD&#8217;s current structure is ineffective and recommended exploring asset sales, restructuring, and mergers. 
Warner Bros stock has lost over 34% in the last 12 months. Investors can gain exposure to the stock via Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) and Vanguard Communication Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOX#NYSE">VOX</a>).
Price Action: WBD shares are trading higher by 7.45% at $8.950 in premarket at last check Thursday.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/gaming/24/06/39236107/warner-bros-discoverys-200m-loss-inside-the-turbulent-saga-of-suicide-squad-kill-the-justice-leagu">Warner Bros. Discovery&#8217;s $200M Loss: Inside The Turbulent Saga of Suicide Squad: Kill The Justice League</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Asset Sales

General

CMCSA

PARA

Warner Bros Discovery Shares Are Surging Thursday As CEO Considers Asset Sales, Spinoff

The 30-patient study is designed to measure the efficacy of applying NEXGEL's hydrogel during laser hair removal in eliminating harmful particles or plume during treatments
Several states have already either instituted or are considering surgical plume protection mandates as a requirement to contain the toxic byproduct of laser procedures
LANGHORNE, Pa., July 18, 2024 (GLOBE NEWSWIRE) -- NEXGEL, Inc. ("NEXGEL" or the "Company") (NASDAQ:<a href="https://www.benzinga.com/stock/NXGL#NASDAQ">NXGL</a>), a leading provider of medical and over-the-counter (OTC) products including ultra-gentle, high-water-content hydrogels for healthcare and consumer applications, and Innovative Optics US dba Vanalay, a leading supplier of safety products and personal protective equipment for medical, surgical and aesthetic healthcare facilities globally, today announced initiating an institutional review board (IRB) study funded entirely by Innovative Optics US dba Vanalay in accordance with the FDA, on the benefits of hydrogel application during laser hair removal.

Biotech

NXGL

NEXGEL And Innovative Optics US Initiate IRB Study In Accordance With FDA Of Hydrogel Application During Laser Hair Removal

XPeng Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) shares are trading lower in the<a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener"> premarket session on Thursday.</a>
Chinese stocks are plunging amidst reports indicating the Biden administration&#8217;s contemplation of imposing chip sale restrictions on China, intensifying <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39821315/ai-earthquake-semiconductors-suffer-worst-selloff-in-years-on-stricter-us-chip-expo" rel="noreferrer noopener">geopolitical tensions between the U.S. and China.</a>
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, XPEV stock has lost over 39% in the past year. Investors can gain exposure to the stock via&nbsp;SPDR S&amp;P Kensho Smart Mobility ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAIL#NYSE">HAIL</a>).
Meanwhile, Volkswagen AG&#8217;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>)(OTC:<a class="ticker" href="https://www.benzinga.com/stock/VLKAF#OTC">VLKAF</a>) technology partnership with XPeng is progressing, with reports indicating that hundreds of Volkswagen engineers have commenced work at Xpeng&#8217;s Guangzhou campus, enhancing their collaboration in electric vehicle technology.
The collaboration between the two sides spans a broad spectrum of areas, marking an unprecedented depth in their cooperation, <a target="_blank" href="https://cnevpost.com/2024/07/18/vw-engineers-begun-working-at-xpeng-offices/" rel="noreferrer noopener">reported </a>CnEV Post.
On July 26, 2023, Volkswagen disclosed its plan to invest approximately $700 million in acquiring <a target="_blank" href="https://www.benzinga.com/news/23/07/33394052/xpeng-volkswagen-ev-collaboration-whats-going-on" rel="noreferrer noopener">around 4.99% of XPeng.</a>
Both companies intend to collaborate on developing two Volkswagen-branded EV models utilizing Xpeng&#8217;s G9 platform, specifically targeting China&#8217;s mid-size car segment.
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39833163/trump-vance-administration-will-be-terrible-for-tesla-says-bear-elon-musk-has-compl" rel="noreferrer noopener">Trump-Vance Administration Will Be &#8216;Terrible&#8217; For Tesla, Says Bear: Elon Musk &#8216;Has Completely Alienated Most Of His Buying Base&#8217;</a>
Volkswagen announced on April 11 that it plans to manufacture two Volkswagen-branded models co-developed with Xpeng in Hefei. The first model, a mid-size SUV, is <a target="_blank" href="https://www.benzinga.com/markets/equities/24/04/38288608/why-xpeng-shares-are-rising-today" rel="noreferrer noopener">scheduled to begin production in 2026.</a>
The partnership exemplifies a foreign carmaker harnessing technology from a Chinese counterpart in the EV era, a trend that several other automakers have also embraced since then, CnEV Post added.
Recently, XPeng&#8217;s &nbsp;G6 model made its U.K. debut at the Goodwood Festival of Speed 2024, <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39736342/why-teslas-chinese-rival-xpeng-shares-are-gaining-today" rel="noreferrer noopener">which showcases its latest SUV model.</a>
XPeng announced that the G6 will be available for ordering in the U.K. later this year.
Price Action: XPEV shares are trading lower by 0.93% to $8.53 premarket at last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/39820384/tesla-investor-elon-musk-fan-ron-baron-launches-new-fund-focused-on-spacex-xai" target="_blank" rel="noreferrer noopener">Tesla Investor, Elon Musk Fan Ron Baron Launches New Fund Focused On SpaceX, xAI</a></li>
</ul>

Equities

Markets

Movers

Media

HAIL

VLKAF

VWAGY

XPEV

What's Going On With Chinese EV Maker XPeng Shares On Thursday?

<ul>
<li>TSM</li>
<li>NVDA</li>
<li>WAY</li>
<li>QQQ</li>
<li>META</li>
<li>AAPL</li>
<li>AI</li>
<li>JD</li>
<li>AMD</li>
<li>MU</li>
</ul>
Data from <a href="https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment">https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment</a>
&nbsp;

Trading Ideas

AAPL

NVDA

Top 10 Trending Stocks On WallStreetBets As Of July 18 2024 (Via Swaggy Stocks)

Jefferies analyst Kevin Strang maintains Allakos (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALLK#NASDAQ">ALLK</a>) with a Hold and lowers the price target from $1.5 to $1.

ALLK

Jefferies Maintains Hold on Allakos, Lowers Price Target to $1

Vice President of Engineering at ABF, Matt Godfrey, Appointed ABF President
<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Farcb.com%2F&amp;esheet=54095984&amp;newsitemid=20240718545014&amp;lan=en-US&amp;anchor=ArcBest&amp;index=1&amp;md5=04e7cbf9d8359d831944ee03832856bc">ArcBest</a>&#xAE; (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARCB#NASDAQ">ARCB</a>), a leader in supply chain logistics, announced today that Seth Runser, president of ABF Freight, will become president of ArcBest effective August 1, 2024. Judy R. McReynolds will remain chief executive officer and chairman of the board.

Management

ARCB

Seth Runser Appointed President Of ArcBest, Effective August 1, 2024

FROG

JFrog Unveils Report Exposing Disconnects Between Senior Executives And Practitioners In AI/ML And Security Technologies; Highlights Gaps In Standardized Use And Increasing Risk Of Software Supply Chain Attacks

BMO Capital analyst Michael Zaremski maintains Progressive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>) with a Outperform and raises the price target from $235 to $239.

BMO Capital Maintains Outperform on Progressive, Raises Price Target to $239

Tesla Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) <a href="https://www.benzinga.com/news/24/07/39810594/cybertruck-completes-1-year-heres-how-much-you-would-have-today-if-you-invested-1-000-in-tesla-when">Cybertruck</a> outsold Ford Motor Co&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) F-150 Lightning and Rivian Automotive&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) R1T truck to become the most sold American-made EV truck in the U.S. in the month of May, as per vehicle registration data. 
What Happened: According to data from S&amp;P Global Mobility, 3,907 Cybertrucks were registered in May as compared to Ford&#8217;s F-150 Lightning which had 2,353 registrations, and Rivian&#8217;s R1T which had 1,237 registrations. In fact, the Cybertruck outsold the Lightning and R1T cumulatively during the month, Automotive News <a href="https://www.autonews.com/automakers-suppliers/tesla-cybertruck-beats-ford-f-150-lightning-top-ev-pickup">reported</a>. 
&#8220;It&#8217;s surprising because the Cybertruck is such a unique, one-of-a-kind, unusual vehicle, really as far out of the mainstream as you can get,&#8221; Tom Libby, associate director of industry analysis at S&amp;P Global Mobility, told Automotive News. &#8220;On the other hand, it doesn&#8217;t surprise me because Elon Musk thrives on doing things like this.&#8221;&nbsp;
Electric trucks from General Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>), meanwhile, had <a href="https://www.benzinga.com/news/24/07/39612749/60-000-cadillac-lyriq-drives-gms-q2-ev-sales-after-bolt-is-discontinued">way lower registrations</a>. As per the report, only 668 Chevrolet Silverado EVs and only 359 GMC Hummer EVs were registered in May. 
Tesla does not give month-wise, geography-wise, or model-wise breakdowns of its deliveries, leaving only <a href="https://www.benzinga.com/news/24/07/39646347/tesla-hints-cybertruck-was-most-sold-ev-truck-in-us-in-q2-but-elon-musks-company-has-not-released-da">registration data to assess sales.</a>
Higher Price Not A Deterrent: The higher registration numbers are despite the higher price point of the Cybertruck as compared to the other two popular electric trucks. 
While the 2024 model year F-150 Lightning starts at $62,995, the Rivian R1T starts at $69,900. The currently available lower-priced version of the Cybertruck, meanwhile, starts at an estimated $79,990. The more premium Cyberbeast version starts at $99,990. 
Why It Matters: Tesla CEO Elon Musk <a href="https://www.benzinga.com/news/24/07/39590408/tesla-to-deliver-foundation-series-cybertrucks-through-late-2024-due-to-continued-high-demand-contra">has previously said</a> that production, and not demand, is the biggest hurdle in ramping up Cybertruck deliveries. The company claims to have a million reservations for the vehicle and is attempting to deliver 250,000 units starting in 2025. 
As of now, however, the company is only ramping up production. Tesla has touched a weekly production rate of 1,300 Cybertrucks, Musk said at Tesla&#8217;s annual shareholder meeting in early June. The company is looking to increase it further this year to touch 2,500 units by year-end, he added.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39832499/tesla-executive-assures-cybertruck-light-bar-coming-soon-for-foundation-series-cyberbeast-customers">Tesla Executive Assures Cybertruck Light Bar Coming &#8216;Soon&#8217; For Foundation Series Cyberbeast Customers</a></li>
</ul>
Photo by Mike Mareen on Shutterstock

Tech

RIVN

TSLA

Tesla Cybertruck Outsells Ford F-150 Lightning And Rivian R1T Combined In May Despite Price Premium

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) mining stock Marathon Digital Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) is trading higher Thursday after falling more than 4% on Wednesday. Here&#8217;s a look at <a href="https://www.benzinga.com/pressreleases/24/07/g39836102/mara-schedules-conference-call-for-second-quarter-2024-financial-results">what&#8217;s going on</a>.
What To Know: Marathon Digital shares are bouncing back Thursday after trading lower Wednesday alongside several other bitcoin mining stocks as bitcoin prices fell. 
Bitcoin mining stocks have actually been on the upswing in recent sessions alongside a rebound in bitcoin. Wednesday&#8217;s pullback appears to be a healthy breather. 
The rebound in bitcoin prices comes as spot bitcoin ETFs have experienced <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39835531/bitcoin-spot-etfs-continue-inflow-streak-but-whats-up-with-this-technical-indicator">nine consecutive days of net inflows</a>. As previously reported by Benzinga, CryptoQuant highlighted a technical indicator for bitcoin this week suggesting further upside. Bitcoin's price has reportedly surpassed the average cost basis of short-term holders, which is historically bullish. 
Check This Out: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39835531/bitcoin-spot-etfs-continue-inflow-streak-but-whats-up-with-this-technical-indicator">Bitcoin Spot ETFs Continue Inflow Streak&#8230;But What&#8217;s Up With This Technical Indicator?</a>
What Else: Marathon Digital on Thursday scheduled its <a href="https://www.benzinga.com/calendars/earnings">second-quarter financial results</a> for Aug. 1. According to estimates from <a href="http://pro.benzinga.com">Benzinga Pro</a>, the company is expected to report a loss of 14 cents per share and revenue of $157.84 million. 
At the beginning of the month, Marathon said it produced 590 bitcoin in June, down from 979 bitcoin produced in the prior year's period. The company's average operational hashrate grew 2% month-over-month to 26.3 EH/s.
Marathon Digital noted that it has increased its total bitcoin holdings to 18,536 coins. The company also highlighted its cash and bitcoin balance of $1.4 billion as of June 30.
MARA Price Action: <a href="https://www.benzinga.com/quote/MARA">Marathon Digital shares</a> were up 1.17% at $25.85 at the time of writing, according to <a href="http://pro.benzinga.com/">Benzinga Pro</a>.
Photo: Eivind Pedersen from Pixabay.

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

Cryptocurrency

$BTC

MARA

What's Going On With Bitcoin Mining Stock Marathon Digital?

London copper dips below $10K as exchange inventories keep climbing

Copper price surge not justified by fundamentals, top trader Trafigura says

Copper drops to two-month low on more concerns over China demand recovery

There's a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Gold Fields (GFI – Research Report) and Capstone Copp...

Wall Street Analysts Are Bullish on Top Materials Picks

Capstone Copper (TSE:CS) has released an update. Capstone Copper Corp. has successfully produced its first saleable copper concentrate at the Manto...

Capstone Copper Hits Key Milestone in Chile

Copper continues slide from recent record as traders fret over China demand

Capstone Copper: Substantially Larger Earnings Ahead From Growth Projects

Capstone Copper (TSE:CS) has released an update. Capstone Copper Corp. has announced that it will disclose its financial outcomes for the second qu...

Capstone Copper Announces Q2 2024 Results Release

Commodity Roundup: BMI ups copper price forecast to $9,600; oil steady after selloff

COPX: High Risk, Poor Reward

AAUKF

CENX

COPX

CORN

CPER

FQVLF

GDXJ

GLCNF

GLNCY

IVPAF

JJCTF

KALU

NGLOY

NUGT

PALL

PHYS

PSLV

SCCO

SOYB

TECK

VALE

WEAT

Capstone Copper

Capstone Copper Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CSCCF#OTC">CSCCF</a>) and Orion Mine Finance have brokered a financial deal, arranging a bought deal worth $375 million Canadian dollars with a syndicate of underwriters led by RBC Capital Markets. 



The deal is expected to close on Feb. 8, 2024, subject to customary closing conditions and regulatory approvals.



&#8220;This marks an exciting time for Capstone. Mantoverde Development Project (MVDP) is transformational for our business and provides the base for incredible growth in the Mantoverde-Santo Domingo District,&#8221; said Capstone CEO John MacKenzie.



As part of the offering, Capstone Copper will issue 47,620,000 common shares at CA$6.30 each, generating gross proceeds of CA$300,006,000. Capstone will use net proceeds to advance near-term growth initiatives in Chile, specifically focusing on the MVDP project and Santo Domingo detailed engineering. 



If successful, the MVDP project could increase copper production by over 40% while reducing unit operating costs — a positive catalyst for the industry which grapples with potential copper shortages among growing supply and<a href="https://www.benzinga.com/markets/commodities/23/12/36259547/copper-shortage-first-quantums-cobre-panama-mine-shuts-down-threatening-supply-balance"> mine closures in the region</a>.



Now read:<a href="https://www.benzinga.com/news/24/02/36911855/endeavour-mining-resumes-operations-following-strike-at-major-gold-mine"> Endeavour Mining Resumes Operations Following Strike At Major Gold Mine</a>



The selling shareholders will receive gross proceeds of CA$74,970,000 from the secondary sale of 11,900,000 common shares. Orion has agreed, subject to limited exceptions, not to sell any common shares or other securities of Capstone for 90 days from the closing of the offering. Capstone, likewise, has agreed not to issue any common shares or other securities for the same period.



Additionally, the underwriters have the option to purchase up to 8.93 million shares at any time for 30 days after the offering closes. Exercising the option would raise the gross proceeds to a total of CA$431 million.



Capstone Copper, headquartered in Vancouver, Canada, focuses on copper mining in the Americas. The company operates several mines, including the Pinto Valley copper mine in Arizona, the Cozamin copper-silver mine in Zacatecas, Mexico, and the Mantos Blancos copper-silver mine in Chile. Additionally, Capstone holds a 70% interest in the Santo Domingo copper-iron-gold project, further enhancing its portfolio in the region.



The offering, subject to regulatory approvals, represents a strategic move by Capstone to fortify its position in the copper mining sector, particularly in Chile, a key region for its operations.



Read Next:<a href="https://www.benzinga.com/m-a/24/01/36869596/hecla-mining-eyes-latin-american-expansion-for-accelerated-growth"> Hecla Mining Eyes Latin American Expansion For Accelerated Growth</a>



Photo: Shutterstock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Comments

Capstone Copper

News

Latest news for Capstone Copper (OTC:CSCCF) Stock

Monday, February 05, 2024