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Finning International (OTC:FINGF) Stock, Option Chain

FINNING INTL INC

Finning International Inc is a dealer and distributor of heavy-duty machinery and parts of the Caterpillar brand. The company sells and rents Caterpillar machinery to the mining, construction, petroleum, forestry, and power system application industries. Finning International further provides parts and services for equipment and engines to its customers via its owned distribution network and buys and sells used equipment domestically and internationally after reconditioning or rebuilding the machinery. The company operates in Canada, South America, UK and Ireland, and others.

News

FINGF

TSX:FTT

Finning International Inc. (TSX: FTT) (OTC: FINGF) 

Finning Bags Mining Contracts In Canada, Chile

Guidance

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Buybacks

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Global

Finning South America Announces $190M Contract with Codelco 

FINNING INTL INC by Finning International Inc.

Finning International Inc

<p>Scotiabank analyst Michael Doumet maintains Finning International (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FINGF#OTC">FINGF</a>) with a Outperform and raises the price target from C$46 to C$50.</p>


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Scotiabank Maintains Outperform on Finning International, Raises Price Target to $50

<p><strong>Finning International Inc.&nbsp;</strong>(TSX: FTT) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/fingf#OTC">FINGF</a>)&nbsp;<a class="editor-rtfLink" href="https://www.finning.com/en_CA/company/news-events/corporate-news/2022052424492130.html" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">received awards for mining contracts</a>&nbsp;in Western Canada and Chile. Financial terms were not disclosed.</p>
<p>FTT&rsquo;s Canadian operation agreed with Artemis Gold Inc. to supply&nbsp;<strong>Caterpillar, Inc.</strong>&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cat#NYSE">CAT</a>) mining equipment to the Blackwater Gold Project in British Columbia.</p>
<p>The South American operation received a notice of award from Chilean state-owned copper producer, Codelco, to provide Caterpillar electric drive trucks to the Ministro Hales copper mine in northern Chile.</p>
<p>In Western Canada, FTT will deliver primary and ancillary Caterpillar mining fleets to Artemis&rsquo; Blackwater Gold Project and product support over five years.</p>
<p>In Chile, FTT will deliver 13 Caterpillar 798AC electric drive off-highway trucks to Codelco&rsquo;s Ministro Hales open-pit copper mine and support the fleet under a 10-year maintenance and repair contract.</p>
<p><strong>Price Action:&nbsp;</strong>FTT shares are trading higher by 2.40% at C$32.87 on TSX and FINGF lower by 1.24% at $25.53 on the last check Tuesday.</p>
<p><em>Photo Via&nbsp;Company</em></p>


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Stocks That Hit 52-Week Highs On Tuesday

<p>Finning International (OTC: <a class="ticker" href="/stock/fingf#OTC">FINGF</a>) announced today that its South American operation has been awarded a contract valued at US$190 million with Codelco, Chile's state owned copper mining company. Under this contract, Finning will supply 10 Caterpillar 797F trucks to Codelco's Ministro Hales mine in Calama, Chile. Finning will begin delivering this equipment in 2013. In addition, Finning has been awarded a ten-year maintenance services contract for the trucks. The equipment will complement Ministro Hales' existing Caterpillar fleet."We are extremely pleased to build on our relationship with Codelco to further support their Ministro Hales project," said Marcello Marchese, president of Finning South America. "The mining sector continues to represent a great long-term opportunity for Finning." Finning International Inc. is the world's largest Caterpillar equipment dealer delivering unrivalled service to customers for 80 years. Finning sells, rents and services equipment and engines to help customers maximize productivity. Headquartered in Vancouver, B.C., the Company operates in Western Canada, Chile, Argentina, Bolivia, Uruguay, as well as in the United Kingdom and Ireland. Forward Looking Information This report contains statements about the Company's business outlook, objectives, plans, strategic priorities and other statements that are not historical facts.</p>
<p>    <a href="http://www.benzinga.com/pressreleases/13/11/m4074146/finning-south-america-announces-significant-contract-with-codelco">See full press release</a></p>


Asset Sales

Finning Talking with Caterpillar on Deal to Purchase Some of Cat's Assets

Finning International prices $425M notes offering

Finning International: Caterpillar Dealer At A 9% Underlying Free Cash Flow Yield

Finning International Non-GAAP EPS of C$0.84

Finning International Inc. (FINGF) Q1 2024 Earnings Call Transcript

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p><strong>Bank of America </strong>(NYSE:<span><a href="https://investorplace.com/stock-quotes/bac-stock-quote/"><strong>BAC</strong></a></span>) discussed in April how the copper supply crisis, which has been predicted to happen for as long as electric vehicles have been in production but never really became a reality, could be ready to pounce, pushing copper prices higher.&nbsp;</p>




<p>&ldquo;&lsquo;The much-discussed lack of mine projects is becoming an increasing issue for copper. This, along with investment in green technologies and a rebound of the global economy, should lift prices to US$10,250/t (465c/lb) by the fourth quarter,&rsquo; they say, an upgrade of 8% from their previous view,&rdquo; <em>MarketWatch </em><a href="https://finance.yahoo.com/news/bank-america-says-copper-supply-154100051.html">reported</a> on April 9.&nbsp;</p>




<p>Of course, copper miners will benefit should this come into play.&nbsp;</p>



<p>However, I&rsquo;m interested in the non-mining stocks that would benefit from higher copper prices.&nbsp;&nbsp;</p>



<h2>Caterpillar (CAT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/10/cat-stock-300x169.jpg" alt="Image of a yellow construction vehicle with the Caterpillar (CAT) logo on it"><div>Source: astudio / Shutterstock.com</div></div><p><strong>Caterpillar </strong>(NYSE:<span><a href="https://investorplace.com/stock-quotes/cat-stock-quote/"><strong>CAT</strong></a></span>) is the <a href="https://investors.caterpillar.com/overview/default.aspx">world&rsquo;s largest</a> construction and mining equipment manufacturer. It operates four segments: Construction Industries (37% of revenue), Resource Industries (18%), Energy &amp; Transportation (39%), and Financial Products (6%).&nbsp;</p>



<p>As is often the case with industrial manufacturers&rsquo; financial divisions, Caterpillar&rsquo;s Financial Products division generated <a href="https://www.caterpillar.com/content/dam/caterpillarDotCom/releases/1q24/1q24-caterpillar-inc-financial-results.pdf">$293 million</a> in operating income in Q1 2024, 26% higher than a year earlier and an operating margin of 29.6%, higher than the other three.&nbsp;</p>



<p>While the company&rsquo;s revenue in the first quarter was $63 million less than a year ago at $15.80 billion, its operating profit was 29% higher year-over-year, to $3.52 billion. That was due to higher operating margins in all four segments.&nbsp;</p>



<p>The one most closely related to copper is its Resource Industries segment, which serves the mining, heavy construction, and quarry and aggregates markets. In the U.S., the segment&rsquo;s products are produced at Illinois, South Carolina, Texas, and Wisconsin factories. It also has facilities in seven other countries, including China and India.</p>



<p>On <a href="https://d18rn0p25nwr6d.cloudfront.net/CIK-0000018230/14d15e28-9f69-40c7-b41a-fde9aef000d4.pdf">pg. 28</a> of its 2023 10-K, it notes that the age of the fleet of its resource customers remains elevated. In the near term, that means higher maintenance revenue for the existing fleet and higher new equipment purchases as commodity demand strengthens.&nbsp;</p>



<p>Copper producers should play a part in the segment&rsquo;s revenue growth.&nbsp;</p>



<p>Although analysts don&rsquo;t particularly like it&mdash;only <a href="https://www.marketwatch.com/investing/stock/cat/analystestimates">10 of 26</a> that cover it rate CAT a Buy&mdash;it trades at a reasonable 16.4x its estimated 2024 earnings per share of $21.25.&nbsp;&nbsp;</p>



<h2>Finning International (FINGF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/03/mining-1600-300x169.png" alt="Mining cart in a silver, copper, and gold mine representing VOXR Stock."><div>Source: TTstudio / Shutterstock</div></div><p>Riding the Caterpillar choice, <strong>Finning International </strong>(OTCMKTS:<span><a href="https://investorplace.com/stock-quotes/fingf-stock-quote/"><strong>FINGF</strong></a></span>) is the <a href="https://www.finning.com/en_CA/company/investors.html">world&rsquo;s largest</a> Caterpillar dealer, with operations in Western Canada, Chile, Argentina, Bolivia, the U.K. and Ireland.&nbsp;</p>



<p>It operates in three South American countries, where many of the world&rsquo;s biggest mines are located.&nbsp;&nbsp;</p>



<p>In 2023, South America was the company&rsquo;s second-largest region by revenue, with <a href="https://www.finning.com/content/dam/finning/Shared/ir-events-attachments/q4-2023%20financial-report-Feb6-2024.pdf">3.22 billion</a> Canadian dollars ($2.36 billion), accounting for 34% overall. Its Product Support revenue accounted for 64%&nbsp; of the region&rsquo;s sales, followed by the sale of new equipment (32%) and others (4%). Its adjusted EBIT (earnings before interest, taxes, and depreciation) was 12.1% of net revenue, higher than Canada (10.4%) and the U.K. and Ireland (4.9%).</p>



<p>Last year, the company&rsquo;s revenue grew by 16.2% to 9.54 billion Canadian dollars ($7.00 billion), with Canada accounting for 53% of revenue and 54% of adjusted EBIT.</p>



<p>Over the past five years, CAT stock has appreciated by 191%, 1.9x greater than Finning. Finning trades at just 12.6x its expected earnings in 2024, making it about 23% cheaper than CAT stock.&nbsp;&nbsp;&nbsp;</p>



<h2>Sandstorm Gold (SAND)<strong>&nbsp;</strong></h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/08/oilsands1600-300x169.jpg" alt="an image of oil sands"><div>Source: Shutterstock</div></div><p><strong>Sandstorm Gold </strong>(NYSE:<span><a href="https://investorplace.com/stock-quotes/sand-stock-quote/"><strong>SAND</strong></a></span>) is a Vancouver-based company that provides funding to mining companies in return for a share of the revenue from the mining projects undertaken with the money.</p>



<p>Often referred to as royalties, Sandstorm currently has <a href="https://www.sandstormgold.com/why-invest/">250</a> mining projects worldwide, with over 40 generating cash flow and the rest in development. As the name suggests, it focuses on gold&mdash; approximately 70% of its revenue is from precious metals, which is expected to grow to over 80% by 202&mdash;but copper is a natural byproduct.&nbsp;</p>



<p>So it&rsquo;s in Sandstorm&rsquo;s best interest to finance copper projects. To do so, it launched <strong>Horizon Copper </strong>(CVE:HCU) in 2022.</p>




<p>&ldquo;Horizon is a premier copper company with interests in three of the largest copper mines in the world. As a growth partner, Sandstorm has the exclusive opportunity to invest alongside Horizon Copper in any future transactions, securing precious metal streams on copper mines,&rdquo; states Sandstorm&rsquo;s investor relations page.&nbsp;</p>




<p>By doing this, it keeps its hands on products that should benefit from the energy transition while remaining focused on the gold business and precious metals.&nbsp;</p>



<p>Horizon has a <a href="https://www.horizoncopper.com/wp-content/downloads/Horizon-Presentation.pdf">1.66% NPI</a> (net profits interest) royalty in Antamina, the world&rsquo;s third-largest copper mine by CuEq (copper equivalent) production.&nbsp;</p>



<p>As copper prices move higher, both Horizon and Sandstorm shareholders will benefit.</p>



<p><em>On the date of publication, Will Ashworth </em><em>did not have (either directly or indirectly) any positions in the securities mentioned in this article. </em><em>The opinions expressed in this article are those of the writer, subject to the </em>InvestorPlace.com<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/"><em> </em>Publishing Guidelines</a><em>.</em></p>
<div><p>Will Ashworth has written about investments full-time since 2008. Publications where he&rsquo;s appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. He particularly enjoys creating model portfolios that stand the test of time. He lives in Halifax, Nova Scotia.</p></div><h3>More From InvestorPlace</h3>
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<p>The post <a href="https://investorplace.com/2024/05/beyond-the-mines-3-stocks-to-buy-to-profit-from-the-surge-in-copper-prices/">Beyond the Mines: 3 Stocks to Buy to Profit From the Surge in Copper Prices</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

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