Latest news for Norsk Hydro (OTC:NHYKF) Stock

Norsk Hydro

Norsk Hydro ASA is an aluminium and renewable energy company committed to a sustainable future. It's engaged in energy to bauxite mining and alumina refining, primary aluminium, aluminium extrusions, and aluminium recycling. The company's reportable segments are Hydro Bauxite & Alumina, Hydro Aluminium Metal, Hydro Extrusions, Hydro Energy, and Hydro Metal Markets activities. Hydro Extrusions delivers products within extrusion profiles, building systems, and precision tubing, and is operating several recycling facilities, both integrated with its extrusion plants and separate plants. Hydro Extrusions are present in about 40 countries. It is delivered to sectors such as construction, automotive and heating, etc. Key revenue comes from the Hydro Extrusions segment.

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Equinor&#39;s Mendubim solar plant in Brazil has started operation, increasing equity power production by 30%. Joint venture with Scatec and Hydro Rein.

30% Brighter Future: Equinor Flips The Switch On Huge Brazil Solar Project

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The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

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Norsk Hydro ASA

Norsk Hydro: Some Positive Increments But Still Some Cycle Pressure (Rating Downgrade)

Norsk Hydro raises long-term profit goals but hikes capex estimates

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Aluminum is a highly utilitarian metal that has application across multiple Industries. However, prices have fallen throughout 2023, which has caused problems for weaker aluminum stocks.



Currently, aluminum <a href="https://tradingeconomics.com/commodity/aluminum">prices</a> have fallen by $178 per ton which is more than 7% lower than it was at the beginning of 2023. Reports from earlier in the year suggested that there is oversupply coupled with weak demand. Based on those factors, the <a href="https://www.livemint.com/companies/news/falling-aluminium-prices-expected-to-remain-range-bound-in-h2-fy23-due-to-weak-global-demand-and-oversupply-situation-11692030038920.html">outlook</a> for the sector remained weak through at least the end of 2023.&nbsp;



Those projections seem to have at least some accuracy and that should provide investors enough reason to adjust their portfolios accordingly.



<h2>Century Aluminum (CENX)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/09/aluminum-stocks-2-1600-300x169.jpg" alt="close-up of a small rock of aluminum ore"><div>Source: shutterstock.com/RHJPhtotoandilustration</div></div>


Century Aluminum (NASDAQ:<a href="https://investorplace.com/stock-quotes/cenx-stock-quote/">CENX</a>) has suffered greatly due to the decline in aluminum prices. Those declining prices are the primary reason that investors should avoid the stock. The company has not been able to keep up with the operational effects of declining prices, which have affected the company in a fundamentally negative way.



Century Aluminum&rsquo;s most recent <a href="https://centuryaluminum.com/investors/press-releases/press-release-details/2023/Century-Aluminum-Company-Reports-Third-Quarter-2023-Results/">earnings</a> report tells the story very clearly. The price of aluminum declined by $134 per ton between Q2 and Q3. During Q2, the company reported $575 million dollars in sales leading to earnings of $7.5 million. The decline in aluminum prices had very severe effects on the company. Sales declined to $545 million, leading to a $42 million net loss.



It&rsquo;s evident that Century Aluminum is very susceptible to price swings. The company barely managed to eke out a profit during Q2. It suffered a substantial loss during Q3 and with prices remaining muted it&rsquo;s likely that the company will face similar troubles in Q4. My advice: if you&rsquo;re interested in aluminum stocks, steer clear of this one. 



<h2>Tredegar (TG)&nbsp;</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/09/aluminum-stocks-4-1600-300x169.jpg" alt="stack of aluminum framing construction material"><div>Source: shutterstock.com/happylemon</div></div>


If the situation at Century Aluminum was bad, it&rsquo;s actually worse for Tredegar (NYSE:<a href="https://investorplace.com/stock-quotes/tg-stock-quote/">TG</a>). Tredegar produces plastic and polyester films and conducts aluminum extrusion &mdash; a process that turns aluminum alloy into objects with multiple uses.



Management sites many of the same issues including the down cycle in aluminum prices. The company also notes that it is cyclically entering the low season of the winter months. That suggests that there&rsquo;s little reason to expect improvement anytime soon.



From a fundamental perspective, things plainly don&rsquo;t look good for Tredegar. During the three months that ended September 30th, sales volume declined by 28.6%, falling to 32,457 lbs. of aluminum. Declining prices, combined with falling volumes resulted in a decline in revenues of 32.3% during the period.&nbsp;



The company was already doing quite poorly and reported a $1 million dollar net loss a year prior. That loss swelled substantially during Q3, reaching $50.4 million.&nbsp;



<h2>Norsk Hydro (NHYKF)&nbsp;</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/04/aluminum-300x169.jpg" alt="a roll of aluminum in a factory"><div>Source: Shutterstock</div></div>


Norsk Hydro (OTCMKTS:<a href="https://investorplace.com/stock-quotes/nhykf-stock-quote/">NHYKF</a>) is suffering along with the aluminum stocks mentioned above. This is the same story that repeats again and again when investing in <a href="https://investorplace.com/industries/consumer-staples/commodities/">commodities stocks</a>. High prices create very good times and sinking prices create the opposite.



Just as with the other firms in this article, Norse Hydro is is suffering as aluminum prices fall. The company <a href="https://www.hydro.com/en-US/media/news/2023/hydros-third-quarter-2023-results/">notes</a> lower aluminum prices as well as falling extrusion volumes as the primary factors in its weakening results. Beyond that, the company also noted that it received a smaller compensation for carbon dioxide offsets during the period. All those factors combined reduced its earnings and negatively affected results.&nbsp;



The company saw its EBITDA fall by more than 44% during the period. The net result was a loss that exceeded the US dollar equivalent of $57 million. The company notes that it&rsquo;s outlook remains strong through 2030 due to secular factors like strong demand from emerging industries such as electric vehicles but it is best to stay on the sideline at this time.



On the date of publication, Alex Sirois did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/"> Publishing Guidelines</a>.
<div>Alex Sirois is a freelance contributor to InvestorPlace whose personal stock investing style is focused on long-term, buy-and-hold, wealth-building stock picks. Having worked in several industries from e-commerce to translation to education and utilizing his MBA from George Washington University, he brings a diverse set of skills through which he filters his writing.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2023/12/3-underperforming-aluminum-stocks-you-better-not-be-buying/">3 Underperforming Aluminum Stocks You Better Not Be Buying</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 Underperforming Aluminum Stocks You Better Not Be Buying

Norsk Hydro Non-GAAP EPS of NOK0.50, revenue of NOK46.75B; strengthening position in challenging markets

Norsk Hydro ASA 2023 Q4 - Results - Earnings Call Presentation

Norsk Hydro taps Kallevik as new CEO; Aasheim set to depart

Norsk Hydro - A Changing World In Aluminum, Meaning Higher Appeal

Norsk Hydro Non-GAAP EPS of NOK 0.93, revenue of NOK 47.55B

Norsk Hydro ASA (NHYDY) Q1 2024 Earnings Call Transcript

Norsk Hydro Earnings Have Fallen, But The Share Price Has Not Yet Dropped

CENX

Equinor ASA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQNR#NYSE">EQNR</a>) stated that its 531 MW Mendubim solar plant in Brazil has <a href="https://www.equinor.com/news/20240308-production-start-mendubim-solar-plant">commenced </a>operation.



The solar plant will increase the company&#8217;s equity power production by 30%, bringing it to over 1,4 TWh in 2024 in Brazil. Mendubim will annually produce 1.2 terawatt hours (TWh) of power.



The company stated that about 60% of the power will be sold on a 20-year USD-denominated power purchase agreement (PPA) with&nbsp;Norsk Hydro ASA&#8217;s&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/NHYKF#OTC">NHYKF</a>) Alunorte. The remaining production will be sold in the power market in Brazil.



The asset is expected to deliver real base project returns in the middle of Equinor&#8217;s guided range for renewables of 4%-8%.



&#8220;Mendubim represents an important contribution to Equinor&#8217;s diversified energy offering in Brazil that includes a robust oil and gas portfolio and an attractive renewables position,&#8221; said Veronica Coelho, country manager in Brazil.



Notably, the project is being developed and operated as a joint venture between Scatec, Hydro Rein, and Equinor, with all partners having an equal economic interest of 30%.&nbsp;



Last month, Equinor reported a 20% Y/Y drop in fourth-quarter FY23 adjusted revenue due to declining gas prices,&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/02/36981251/why-oil-gas-major-equinor-shares-are-diving-premarket-wednesday" rel="noreferrer noopener">impacting earnings significantly</a>.&nbsp;



Despite strong equity liquids production, adjusted earnings plummet 49% Y/Y to $8.68 billion, reflecting market challenges for Equinor.



Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/03/37422013/equinor-expands-helicopter-diversity-for-norwegian-continental-shelf-operations-details" rel="noreferrer noopener">Equinor Expands Helicopter Diversity For Norwegian Continental Shelf Operations: Details</a>



Price Action: EQNR shares are trading higher by 0.72% at $26.05 on the last check Friday.



Photo via Shutterstock

The following post was written and/or published as a collaboration between Benzinga&rsquo;s in-house sponsored content team and a financial partner of Benzinga.

For OTC Markets, 2019 was about geographical expansion. The company opened its first international office in London last January, and added more than 300 securities from 16 stock exchanges, bringing the total number of countries represented on its markets to 38.

In 2020, the company is focusing on one area they think is primed for growth: northern Europe.

We caught up with Chris King, senior vice president of international corporate services at OTC Markets, after a recent trip to London and Vienna to ask about that international growth and what&rsquo;s so special about northern Europe specifically.

Benzinga: Why northern Europe? What&rsquo;s enticing about that market?

King: The Nordic region has tremendous opportunity for us as a business because they have a very vibrant small and medium-sized enterprise [SME] market. Companies tend to find they&#39;re somewhat underserved by their local markets, and they look to the U.S. to grow their investor base.

We historically haven&rsquo;t focused much time on the Nordic region, but organically over time companies have come to us. One of our larger issuers in Finland, for example, Norsk Hydro (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/NHYDY#OTCQX">NHYDY</a>) (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/NHYKF#OTCQX">NHYKF</a>) and Metso Corp (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/MXCYY#OTCQX">MXCYY</a>), Norsk Hydro is $7.5 billion in market cap. There are large established companies throughout Europe who have been visiting the U.S. for many years and who do things the right way. Being on OTCQX maximizes their access to U.S. institutional and retail audiences.

Benzinga: How much of an impact do you think Brexit has had on European companies wanting to have their shares trade in the U.S.?

King: Across Europe, we&rsquo;re seeing increased demand. If you look at Europe, it&rsquo;s in transition. Brexit is very much a part of the thinking. Whether it&rsquo;s Brexit or MiFID II, companies are coming under increased pressure not just to be more proactive, but perhaps more sophisticated in their approach to investor engagement. Companies like BASF, Lufthansa, BNP Paribas, and Britvic have been trading on our OTCQX market for years. Long before either MiFID or Brexit. While companies rightly consider cross-listing on a U.S. exchange as extremely expensive and burdensome, with the changes we&rsquo;re seeing across Europe, our model becomes a more obvious solution for issuers looking for cost-efficient access to the U.S.

Benzinga: Are there specific types of companies from this region that you&rsquo;re contacting about trading on your markets?

King: The companies that are on our market today include large companies from Norway, Finland,&nbsp;and Sweden. We talk a lot about Roche, Adidas and Heineken because they&rsquo;re easily recognizable brand names. But we know that for every Roche, there&rsquo;s hundreds of companies small-cap space who we can support in their goal to efficiently access the U.S. For the majority of these companies, it would be ludicrous to join another exchange here in the US. But our model allows for companies in the small and micro-cap space from a variety of industries, from shipping to beauty products to gaming to cross-trade. Our goal isn&rsquo;t to focus on a specific industry or a specific kind of company. It&#39;s more about serving the needs of issuers allowing for access to U.S. investment.

Benzinga: What&rsquo;s your pitch to these companies about opening themselves up to U.S. investors?

King: Certainly, the region has a plethora of small, early stage companies. Many look to the U.S. and want to raise money here or they see their long-term plan to be here. For some it&rsquo;s to raise visibility, build a brand, or operations; for others it&rsquo;s to diversify U.S. ownership and achieve fair valuation. Cross-trading on our OTCQX Best Market or OTCQB, our Venture Market, enables companies to accomplish their goals without an SEC filing requirement. Being able to rely on their home exchange listing without joining a second exchange, but having a U.S. dollar quote, is a unique and extremely cost-effective solution. 
In the short space of time that we have dedicated resources there...it&#39;s clear that companies see value and there&#39;s demand.

Benzinga: When you talk to these companies, do they need convincing about having their shares trade in the U.S.?

King: Generally, companies don&rsquo;t need convincing about the value of coming to the U.S. It&#39;s about how to do that in an efficient way. A lot of the rhetoric revolves around &lsquo;You have to have a U.S. listing to be successful,&rsquo; but I think our larger clients&mdash;like Roche Holdings (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/RHHBY#OTCQX">RHHBY</a>) and BNP Paribas (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/BNPQY#OTCQX">BNPQY</a>)&mdash;have proven that they can qualify to trade on any exchange globally. They all choose to cross-trade on our OTCQX market because it&rsquo;s the smart move. It provides them with all of the secondary trading and visibility that they need in the U.S. without the cost and complexity of a second exchange. It&rsquo;s really about educating companies on their options and for the company to make a decision that fits with their strategy.

I&#39;ll give you an example. IDEX Biometrics (OTCQB:<a class="ticker" href="https://www.benzinga.com/stock/IDXAF#OTCQB">IDXAF</a>) is a Norwegian-listed company on Euronext in Oslo. They are about $83 million U.S. market cap, but they have staff in the U.S. We received an inbound call from the management team who explained that they have pain points. Being listed in the Nordic region does not mean U.S. investors can trade the stock. Having staff here made it challenging not just for employees to trade but to attract institutional investment, family office, and financial advisors looking to trade on behalf of clients. Now, they trade on our OTCQB Market and that issue is resolved.

Benzinga: What&rsquo;s a characteristic that a company would need to have in order to be qualified to trade on OTC Markets?

King: One of the subjects that we typically cover with a potential client is the benefit of having a sophisticated investor relations program. There&#39;s no point switching the lights on and hoping that people are simply going to trade. It&#39;s less about the characteristics of the company itself and more about their behavior. You must go out and market, you have to meet with investors, whether it be at conferences or roadshows.

Benzinga: Are there other areas of the world you&rsquo;re targeting to attract more companies?

King: When we commit to a region it&rsquo;s for the long term. For 2020 we&#39;ve committed to western and northern Europe. Who knows where the next area of growth will come from. For us, it&rsquo;s about being able to have the resources to properly support that effort.

We&#39;ve got clients from 38 countries, wherever there are markets that need support and that are interested in engaging with us, we will be there.

The preceding post was written and/or published as a collaboration between Benzinga&rsquo;s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.

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