Latest news for Pan American Energy (OTC:PAANF) Stock

Pan American Energy Corp is a North American mining exploration company engaged in the business of expanding the boundaries of the lithium supply chain through the acquisition, exploration and development of mineral properties. The company has a diversified asset base in Canada and the USA including hard rock lithium (Ontario) and claystone lithium (Nevada).

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Chariot Corp. aims to acquire extensive land in the US for lithium development. Its 3,634 claims in 3 states give it a competitive advantage.

EXCLUSIVE: Chariot Corp. Leads US Lithium Land Acquisition To Strengthen Domestic Supply — &#39;Grab As Much As You Can&#39;

PAN AMERN ENERGY CORP by Pan American Energy Corp.

Pan American Energy Corp

Premier Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PFC#NASDAQ">PFC</a>) reported quarterly earnings of $0.45 per share which missed the analyst consensus estimate of $0.51 by 11.76 percent. This is a 33.82 percent decrease over earnings of $0.68 per share from the same period last year. The company reported quarterly sales of $49.23 million which missed the analyst consensus estimate of $56.63 million by 13.08 percent. This is a 8.83 percent decrease over sales of $53.99 million the same period last year.

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Premier Financial Q2 EPS $0.45 Misses $0.51 Estimate, Sales $49.23M Miss $56.63M Estimate

CREV: 136% &#x7C; <a href="https://www.benzinga.com//node/39976837">Reported Earlier, Carbon Revolution Teams Up With GM Providing Carbon Fiber Wheels For Chevrolet Corvette ZR1</a>
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WINT: 131% &#x7C; <a href="https://www.benzinga.com//node/39979111">Windtree Therapeutics On Thursday Filed Form RW To Withdraw Registration Statement On Form S-1</a>
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COUR: 25% &#x7C; <a href="https://www.benzinga.com//node/39982456">Coursera shares are trading higher after the company beat Q2 earnings estimates.</a>

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Market-Moving News for July 26th

Wells Fargo analyst Finian O'Shea maintains Barings BDC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBDC#NYSE">BBDC</a>) with a Equal-Weight and raises the price target from $9 to $9.5.

Price Target

Analyst Ratings

BBDC

Wells Fargo Maintains Equal-Weight on Barings BDC, Raises Price Target to $9.5

WIIM

Norfolk Southern shares are trading higher after the company reported better-than-expected Q2 earnings results.

Boston Beer Company shares are trading lower after the company reported worse-than-expected Q2 financial results.

RBC Capital analyst Sabahat Khan maintains Waste Connections (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WCN#NYSE">WCN</a>) with a Outperform and raises the price target from $195 to $199.

TSX:WCN

RBC Capital Maintains Outperform on Waste Connections, Raises Price Target to $199

BurgerFi shares are trading higher after the company announced it reached a legal settlement agreement with Lion Point Capital. The company agreed to pay $1,350,000 and issue Lion Point 300,000 of preferred stock.

Wells Fargo analyst Finian O'Shea maintains Bain Capital Specialty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCSF#NYSE">BCSF</a>) with a Overweight and raises the price target from $17 to $18.

BCSF

Wells Fargo Maintains Overweight on Bain Capital Specialty, Raises Price Target to $18

CLLS

Cellectis shares are trading higher after the company announced the FDA granted orphan drug and rare pediatric designation disease to UCART22.

Mohawk Industries shares are trading higher following mixed Q2 earnings. B of A Securities upgraded the stock from Underperform to Buy.

Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) is making significant strides in artificial intelligence with its homegrown AI chips.
In its Austin, Texas, chip lab, Amazon engineers are rigorously testing a new server design that features these AI chips, aiming to reduce reliance on Nvidia Corp&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) costly chips, Reuters reports.
Amazon&#8217;s efforts align with similar initiatives by rivals Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Google parent Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>).
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39463584/nvidia-dominates-gpu-market-as-generative-ai-adoption-grows-analyst-says" rel="noreferrer noopener">Nvidia Dominates GPU Market as Generative AI Adoption Grows, Analyst Says</a>
Rami&nbsp;Sinno, director of engineering for Amazon&#8217;s Annapurna Labs, highlighted the growing customer demand for more affordable alternatives to Nvidia. Annapurna Labs, acquired by Amazon in 2015, is integral to this development.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26042326/newplot-66.png" alt="" class="wp-image-458719" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26042326/newplot-66.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26042326/newplot-66-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
Amazon has been developing its Graviton chips, which perform non-AI computing tasks, for nearly a decade. The latest AI chips, Trainium and Inferentia, offer significant cost savings.
&#8220;The offering of up to 40%, 50% in some cases of improved price and performance means it should be half as expensive as running that same model with Nvidia,&#8221; said David Brown, Vice President of Compute and Networking at AWS, according to Reuters.
Sales at AWS, which accounts for almost 20% of Amazon&#8217;s total revenue, grew by 17% to $25 billion in the January-March quarter compared to the previous year. AWS holds approximately one-third of the cloud computing market, with Microsoft&#8217;s Azure at about 25%.
Analysts view Nvidia as the <a target="_blank" href="https://www.benzinga.com/news/24/07/39842530/whats-going-on-with-nvidia-and-amd-stocks-on-thursday" rel="noreferrer noopener">primary beneficiary in</a> the AI sector. Mizuho Securities reports that Nvidia controls 70% to 95% of the market share for artificial intelligence accelerators.
The Big Tech trio—Google, Microsoft, and Amazon—along with Oracle Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>)—contribute more than 40% of Nvidia&#8217;s revenue.
Amazon stock gained over 40% in the last 12 months, reaching a market cap of $1.87 trillion. Nvidia stock surged over 147% in the last 12 months and currently has a market cap of $2.76 trillion. Investors can gain exposure to the stocks through SPDR S&amp;P 500 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and iShares Core S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVV#NYSE">IVV</a>).
Price Action: AMZN shares traded higher by 1.47% at $182.50 premarket at the last check on Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by Sundry Photography via Shutterstock

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ORCL

Amazon Tests AI Chips in Texas Lab, Aims to Cut Nvidia Costs

Coursera shares are trading higher after the company beat Q2 earnings estimates.

Wells Fargo analyst Elyse Greenspan maintains RenaissanceRe Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNR#NYSE">RNR</a>) with a Overweight and lowers the price target from $288 to $280.

Wells Fargo Maintains Overweight on RenaissanceRe Holdings, Lowers Price Target to $280

RBC Capital analyst Matthew McKellar maintains West Fraser Timber (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFG#NYSE">WFG</a>) with a Outperform and raises the price target from $97 to $100.

TSX:WFG

RBC Capital Maintains Outperform on West Fraser Timber, Raises Price Target to $100

Keefe, Bruyette &amp; Woods analyst Timothy Switzer reiterates Live Oak Bancshares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOB#NYSE">LOB</a>) with a Market Perform and raises the price target from $40 to $47.

Reiteration

Keefe, Bruyette & Woods Reiterates Market Perform on Live Oak Bancshares, Raises Price Target to $47

Norwood Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWFL#NASDAQ">NWFL</a>) reported quarterly earnings of $0.52 per share. This is a 35.8 percent decrease over earnings of $0.81 per share from the same period last year.

NWFL

Norwood Financial Q2 EPS $0.52 Down From $0.81 YoY

CASY

Casey's General Stores To Acquire Fikes Wholesale For $1.145B, Expanding Presence In Texas And Southern Markets; Net After-Tax Purchase Price Is $980M

Keefe, Bruyette &amp; Woods analyst Aidan Hall reiterates Lazard (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAZ#NYSE">LAZ</a>) with a Outperform and raises the price target from $49 to $56.

Keefe, Bruyette & Woods Reiterates Outperform on Lazard, Raises Price Target to $56

Wells Fargo analyst Elyse Greenspan maintains Globe Life (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GL#NYSE">GL</a>) with a Overweight and raises the price target from $105 to $108.

Wells Fargo Maintains Overweight on Globe Life, Raises Price Target to $108

Alibaba Group Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) and Tencent Holdings have quickly integrated Meta Platforms Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) latest artificial intelligence (AI) model Llama 3.1 into their cloud services.
Alibaba Cloud, the e-commerce giant&#8217;s online computing platform, was among the first to include the latest open-source Llama family of large language models (LLMs), SCMP <a target="_blank" href="https://www.scmp.com/tech/tech-trends/article/3271858/ai-race-alibaba-tencent-quickly-adopt-metas-new-llama-31-model-amid-excitement" rel="noreferrer noopener">reports</a>.
This technology underpins generative AI products like ChatGPT.
Also Read: <a target="_blank" href="https://www.benzinga.com/government/24/07/39901098/apple-and-micron-leaders-visit-beijing-as-us-intensify-advanced-semiconductor-sanctions-report" rel="noreferrer noopener">Apple and Micron Leaders Visit Beijing As US Intensify Advanced Semiconductor Sanctions: Report</a>
Alibaba announced the integration on Tuesday, offering one month of free computing resources for training and inferencing tasks with Llama 3.1.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26032748/newplot-65.png" alt="" class="wp-image-458659" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26032748/newplot-65.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26032748/newplot-65-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
Tencent soon followed with its announcement on the same day. Llama 3.1 is now available on Tencent&#8217;s cloud platform, featuring fine-tuning and inferencing tweaks to ensure the models&#8217; usability in intelligent conversation, text generation, and writing tasks.
Meta has positioned Llama 3.1 as a powerful alternative to leading closed-source models like OpenAI&#8217;s GPT-4.
U.S.-China geopolitical relations became strained following the Western counterpart&#8217;s <a target="_blank" href="https://www.benzinga.com/news/24/07/39938971/chip-stocks-nvidia-amd-and-others-see-more-selloff-on-wednesday-whats-going-on" rel="noreferrer noopener">advanced semiconductor sanctions</a> on the Asian counterpart, which included limiting AI chip access from the likes of Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and peers.
<a target="_blank" href="https://www.benzinga.com/government/24/04/38140039/us-embargo-on-nvidia-stings-hard-chinas-ai-development-lags-peers-alibabas-joe-tsai-reveals" rel="noreferrer noopener">A prior report quoted</a> Alibaba co-founder and chairman Joe Tsai acknowledging China&#8217;s lagging position in the&nbsp;AI development race, with Washington&#8217;s embargo taking a toll on their AI ambitions.&nbsp;
Alibaba stock has lost over 22% in the last 12 months as it strives to accomplish its AI ambitions amid a weak domestic economy crippled with intense rivalry.
Price Action: BABA shares closed lower by 0.25% at $75.21 premarket at the last check on Friday.
Also Read: <a target="_blank" href="https://www.benzinga.com/government/24/07/39968313/nio-xpeng-li-auto-benefit-from-chinas-increased-vehicle-subsidies" rel="noreferrer noopener">Nio, XPeng, Li Auto Benefit From China&#8217;s Increased Vehicle Subsidies</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by Fooksou Lamimo via Wikimedia Commons

BABA

Alibaba And Tencent Lap Up Meta's AI Large Language Model

Pan American Energy Corp. (TSE:PNRG) has released an update. Pan American Energy Corp. has initiated a partnership with the Saskatchewan Research C...

Pan American Advances Lithium Project Testing

Pan American Energy Corp. (TSE:PNRG) has released an update. Pan American Energy Corp. has announced promising drill results from its Big Mack Lith...

Pan American Energy Unveils Lithium Project Success

Pan American Energy Corp. (TSE:PNRG) has released an update. Pan American Energy Corp. has announced its collaboration with the University of Saska...

Pan American Energy Backs Sustainable Lithium Research

Pan American Energy Corp. (TSE:PNRG) has released an update. Pan American Energy Corp. has reported promising final drill results from their 2023/2...

Pan American Energy Strikes High-Grade Lithium

Pan American Energy Corp. (TSE:PNRG) has released an update. Pan American Energy Corp. is partnering with the University of Regina to apply innovat...

Pan American Energy Leads in Microbial Mineral Detection

Pan American Energy Corp. (TSE:PNRG) has released an update. Pan American Energy Corp. has announced the start of a pioneering field prospecting an...

Pan American Energy Launches Innovative Lithium Exploration

Pan American Energy (TSE:PNRG) has released an update. Pan American Energy has successfully concluded their Spring 2024 field prospecting and sampl...

Pan American Energy Enhances Lithium Prospecting

Lithium Junior Miners News For The Month Of June 2024

Golar LNG jumps after signing deal for 20-year FLNG deployment in Argentina

Pan American Energy (TSE:PNRG) has released an update. Pan American Energy Corp. has secured a significant grant of $610,000 from NSERC and MITACS ...

Pan American Energy Gains Major Research Grant

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Press Releases

General

Pan American Energy Announces Completion of the Phase Two Drill Program at the Big Mack Lithium Project

Pan American Energy Announces the Commencement of Metallurgical Testing on Core Samples From the Horizon Lithium Project

Pan American Energy Collaborates With The Saskatchewan Research Council For Preliminary Metallurgical Testing To Produce Petalite Concentrates

Pan American Energy Announces Further Drill Results at the Big Mack Lithium Project, including 1.29% Li2O over 16.6 m at the 6059 Pegmatite

Pan American Energy's Collaboration with the University of Saskatoon Receives Federal NSERC Funding

Pan American Energy Announces Final Drill Results from 2023/2024 Program at the Big Mack Lithium Project, including 1.71% Li2O over 19.65 m at the Eleven Zone Pegmatite

Pan American Energy Announces Research Collaboration with the University of Regina, including Investigation of Geomicrobiology for Identifying Drill Targets at the Big Mack Lithium Project

Pan American Energy Commences the Spring 2024 Field Prospecting and Sampling Program At The Big Mack Lithium Project

Pan American Energy Announces Completion of the Spring 2024 Field Prospecting and Sampling Program at the Big Mack Lithium Project

Financing

Pan American Energy's Collaboration with the University of Regina Receives Federal NSERC Alliance - MITACS Grant Funding Totalling $610,000

CSE:PNRG

Pan American Energy

WASHINGTON — Australia-listed Chariot Corp.&#8216;s early-stage strategy <a href="https://www.benzinga.com/topic/lithium">for lithium development</a> in the United States involves acquiring extensive land holdings.



The company has 3,634 claims in Wyoming, Nevada and Oregon, a number it says is more than any other lithium company in the United States.



"Now, it's better to grab as much as you can," managing director Shanthar Pathmanathan told Benzinga on the sidelines of a recent&nbsp;Benchmark Mineral Intelligence&nbsp;battery metals conference in Washington, D.C.



Two of Chariot's flagship properties—Resurgent in Nevada and Black Mountain in Wyoming—have surface lithium mineralization.



That indication of potential ease of extraction makes Pathmanathan think of the early days of oil discovery in the United States where oil was close to the surface and companies that owned more land had an advantage.



In Australia—where Chariot is based and Pathmanathan has spent much of his career— once easier lithium was mined, the cost of production rose.



Owning so many claims preemptively gives Chariot the option to develop properties in the United States that might be easier to mine, or use that as a selling point for other companies that might want to take on the development task.



"We've got really high-quality assets," Pathmanathan said.



The company has already divested four properties in Nevada to POWR Lithium Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/PWRLF#OTC">PWRLF</a>), Pan American Energy Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/PAANF#OTC">PAANF</a>) and Red Mountain Mining Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RMTLF#OTC">RMTLF</a>) and a portfolio in Western Australia to Australia-listed St. George Mining Ltd.



Chariot also plans to sell two projects in Nevada and one in Zimbabwe.



Chariot's work in the United States comes as the nation is trying to develop a lithium supply chain that isn't dominated by China, the world's biggest lithium consumer who has helped the Australian lithium mining industry develop.



"The U.S. is about 10 years behind Australia with lithium," Pathmanathan said.&nbsp;



Australia is the world's biggest producer of the metal that is used in electric vehicle batteries, demand for which is expected to continue increasing in coming decades.



"We're in a supercycle for demand," Pathmanathan said.



Without Chinese lithium, the United States is probably undersupplied, he said.



That leaves U.S. battery companies and automakers without sufficient domestic upstream lithium supply to meet anticipated demand, a Chariot presentation says.



Lithium prices hit record highs in 2022, but they have fallen sharply since then as automakers have tempered their forecasts for electric vehicle demand.



Those lower prices make Pathmanathan worried about getting financing for Chariot, but the low prices also may allow the company to buy up more lithium properties, he said.



Read Next: <a href="https://www.benzinga.com/markets/commodities/24/06/39480795/exclusive-volt-lithium-ceo-touts-6b-cash-flow-opportunity">EXCLUSIVE: Volt Lithium CEO Touts $6B &#8216;Cash Flow Opportunity&#8217;</a>



Photo: Freedom_wanted/Shutterstock.com

EXCLUSIVE: Chariot Corp. Leads US Lithium Land Acquisition To Strengthen Domestic Supply — 'Grab As Much As You Can'

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Latest news for Pan American Energy (OTC:PAANF) Stock

Wednesday, June 26, 2024