Radius Recycling (NASDAQ:RDUS) Stock

Radius Recycling

Schnitzer Steel

Schnitzer Steel Indus

Radius Recycling Inc is a North American Based company which is involved in recycling of ferrous and nonferrous metal, including end-of-life vehicles, and a manufacturer of finished steel products. As a vertically integrated organization, it offers products and services to meet world-wide demand through the network that includes fifty retail self-service auto parts stores, fifty four metals recycling facilities, and an electric arc furnace steel mill.

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Radius Recycling reported lower first-quarter revenue of $656.54 million, missing consensus of $665.6 million. Nonferrous prices rose, offsetting weaker domestic steel conditions. Adjusted loss per share was $(1.33), missing consensus. The company declared a dividend of $0.1875 per share. 

Radius Recycling&#39;s Q1 Revenue Falls Short, Declines in Ferrous Sales Weigh on Results

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U.S. equities were little moved on Tuesday as investors continued to assess the potential for interest rate cuts following the latest economic data and comments from Fed Chair Jerome Powell.

Stocks Hold Steady As Powell Reassures On Disinflation Path, Warns About Debt Risks; Tesla Rallies, Job Openings Spike: What&#39;s Driving Markets Tuesday?

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Radius Recycling reports worse-than-expected Q3 sales, with revenue at $674 million. Operating cash outflow of $1 million.

Radius Recycling Reeling, Stock Slides After Q3 Sales Miss: Details

Radius Recycling, Inc. - Class A Common Stock

Radius Recycling Inc

Radius Recycling, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDUS#NASDAQ">RDUS</a>) shares are trading lower on Wednesday. On Tuesday, the company reported first-quarter&nbsp;revenue of&nbsp;$656.54 million, missing <a target="_blank" href="https://www.benzinga.com/pressreleases/25/01/g42862059/radius-recycling-reports-first-quarter-fiscal-2025-financial-results" rel="noreferrer noopener">the consensus of&nbsp;$665.6 million</a>.
Ferrous sales volumes (LT, in thousands) decreased to 1,106 from 1,152 a year ago; adjusted EBITDA per ferrous ton sold ($/LT) was&nbsp;nil compared to&nbsp;$1&nbsp;in the prior year quarter.
Average net ferrous sales prices ($/LT) fell to $338 from $354 last year. Finished steel average net sales price ($/ST) came in at $775 (vs. 831 a year ago), and sales volumes (ST, in thousands) of 125 (vs. 129 in the comparable period).
Nonferrous prices rose 12%, offsetting a 5% decline in ferrous prices due to soft global markets and high Chinese steel exports.
Finished steel contribution fell due to weaker domestic conditions and a drop in prices. Lower mill utilization in the first quarter, from scheduled maintenance, also impacted results.
Gross margin declined to&nbsp;$33 million&nbsp;from&nbsp;$39 million&nbsp;a year ago, and adjusted EBITDA was nil, compared to&nbsp;$1 million&nbsp;a year ago.
Adjusted loss per share was $1.33 compared to a loss of $0.64 prior year, also <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">missing the consensus loss of $0.10.</a>
The company witnessed strong stronger recycled metals contribution driven by productivity gains and higher nonferrous demand.
The company&#8217;s operating cash flow was nearly break-even in the first quarter of fiscal 2025. Total debt stood at $445 million at the end of the quarter, and debt, net of cash, was $430 million.
Dividend: The Board of Directors declared a cash dividend of $0.1875 per common share, payable on February 18, 2025, to shareholders of record as of February 3, 2025.&nbsp;
Tamara Lundgren, Chairman and Chief Executive Officer, said, &#8220;We expect inventory rebuilding and seasonality will drive improved demand in the second half of our fiscal year.&#8221;
&#8220;In the longer-term, the demand for recycled metals remains positive, underpinned by increased investments in infrastructure, including for energy projects, industrial reshoring, continued growth in U.S. electric arc furnace steelmaking capacity, and the transition to low-carbon technologies.&#8221;
Price Action: RDUS shares are trading lower by 25.8% at $10.96 at the last check Wednesday.
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Radius Recycling's Q1 Revenue Falls Short, Declines in Ferrous Sales Weigh on Results

Radius Recycling&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDUS#NASDAQ">RDUS</a>) reported quarterly losses of $(1.33) per share which missed the analyst consensus estimate of $(0.43) by 209.3 percent. This is a 107.81 percent decrease over losses of $(0.64) per share from the same period last year. The company reported quarterly sales of $656.54 million which missed the analyst consensus estimate of $665.90 million by 1.41 percent. This is a 2.43 percent decrease over sales of $672.90 million the same period last year.

Radius Recycling Q1 Adj $(1.33) Misses $(0.43) Estimate, Sales $656.54M Miss $665.90M Estimate

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Radius Recycling shares are trading lower after the company reported worse-than-expected Q1 financial results.

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Goldman Sachs analyst Mike Harris initiates coverage on Radius Recycling (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDUS#NASDAQ">RDUS</a>) with a Neutral rating and announces Price Target of $22.

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Goldman Sachs Initiates Coverage On Radius Recycling with Neutral Rating, Announces Price Target of $22

Management

Radius Recycling Appoints Marc Hathhorn As COO

Radius Recycling (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDUS#NASDAQ">RDUS</a>) reported quarterly losses of $(0.41) per share which beat the analyst consensus estimate of $(0.59) by 30.51 percent. This is a 187.23 percent decrease over earnings of $0.47 per share from the same period last year. The company reported quarterly sales of $771.00 million which beat the analyst consensus estimate of $688.95 million by 11.91 percent. This is a 7.38 percent increase over sales of $718.00 million the same period last year.

Earnings Beats

Radius Recycling Q4 2024 Adj EPS $(0.41) Beats $(0.59) Estimate, Sales $771.00M Beat $688.95M Estimate

U.S. equities were little moved on Tuesday as investors continued to assess the potential for interest rate cuts following the latest economic data and comments from <a href="https://www.benzinga.com/markets/bonds/24/07/39600702/fed-chair-powell-warns-of-unsustainable-us-debt-path-downplays-risks-of-possible-trump-attacks-on-c">Fed Chair Jerome Powell.</a>
Speaking at the European Central Bank (ECB) forum in Portugal, Powell welcomed recent progress on disinflation and noted that the labor market is &#8220;appropriately cooling,&#8221; reinforcing market expectations for reduced borrowing costs later this year. He anticipates inflation to be between 2% and 2.5% by this time next year but did not commit to a specific course of action.
Powell also highlighted the unsustainable trajectory of the U.S. national debt, labeling it a &#8220;top-level issue&#8221; for policymakers at Capitol Hill.
On the data front, the Job Openings and Labor Turnover Survey (JOLTS) report revealed a surge of 221,000 job vacancies, reaching 8.14 million in May and surpassing the forecast of 7.91 million.
Traders are now looking ahead to further crucial labor market data, including the private ADP employment report on Wednesday and the official June employment situation on Friday.
Indices and sectors traded within narrow ranges, with only a few standout performers. Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) made headlines, soaring over 9% as second-quarter deliveries exceeded market expectations. The EV giant, led by Elon Musk, delivered 443,956 vehicles in the second quarter, marking a 4.8% decrease from the previous year but surpassing estimates of 438,019 vehicles.
Treasury yields remained mostly unchanged, with the 10-year yield at 4.45%. Commodities showed little movement as well, with West Texas Intermediate (WTI) light crude trading flat at $83.50 and gold dipping by 0.3%.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) declined by 1.6%, falling below $62,000.
<h1 class="wp-block-heading">Tuesday&#8217;s Performance In Major US Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,895.50</td>
<td>0.4%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,484.20</td>
<td>0.2%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>201.12</td>
<td>0.0%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>39,118.69</td>
<td>-0.1%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1:05 p.m. ET</figcaption></figure>
<h1 class="wp-block-heading">According to&nbsp;<a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent070224&amp;t=be2bearmibe3na1">Benzinga Pro&nbsp;data:</a></h1>
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.2% higher to $546.40.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;was 0.1% lower to $391.26.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(ARCA:&nbsp;<a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a><a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a>QQQ) was 0.5% higher to $484.63.</li>
<li>Sector-wise, the&nbsp;Consumer Discretionary&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>)&nbsp;outperformed, up by 1.5%, aided by Tesla&#8217;s remarkable rally, while the&nbsp;Health Care Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) lagged, falling 0.7%.</li>
</ul>

<h1 class="wp-block-heading">Tuesday&#8217;s Stock Movers</h1>
<ul>
<li>R1 RCM Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RCM#NASDAQ">RCM</a>) tumbled 15.2% after New Mountain Capital announced it was no longer interested in a joint acquisition of R1 with TCP/ASC and reduced its proposed takeover offer.</li>
<li>Insurance technology company Roadzen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDZN#NASDAQ">RDZN</a>) skyrocketed 75%, notching the highest one-day rally since inception, in reaction to the company&#8217;s quarterly earnings. </li>
<li>Other companies reacting to earnings were MSC Industrial Direct Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSM#NYSE">MSM</a>) and Radius Recycling Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDUS#NASDAQ">RDUS</a>) down over 8%, </li>
</ul>
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Stocks Hold Steady As Powell Reassures On Disinflation Path, Warns About Debt Risks; Tesla Rallies, Job Openings Spike: What's Driving Markets Tuesday?

Radius Recycling, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDUS#NASDAQ">RDUS</a>) shares are trading lower after the company reported worse-than-<a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/g39593193/radius-recycling-reports-third-quarter-fiscal-2024-financial-results" rel="noreferrer noopener">expected third-quarter sales results</a>.
Revenue stood at $674 million, missing the consensus of $693.9 million.
Ferrous sales volumes (LT, in thousands) decreased to 1,112 from 1,157 a year ago; adjusted EBITDA per ferrous ton sold ($/LT) was $8 compared to $48 in the prior year quarter. Average net ferrous sales prices ($/LT) fell to $350 from $413 last year.
Finished steel average net sales price ($/ST) came in at $817 (vs. 924 a year ago), and sales volumes (ST, in thousands) of 126 (vs. 142 in the comparable period).
Gross margin declined to $46 million from $96 million a year ago, and adjusted EBITDA decreased to $9 million, compared to $56 million a year ago.
Adjusted loss per share of $0.59, beating the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus loss of $0.66</a>.
In the third quarter, the company realized about three-quarters of the quarterly benefits from its previously announced $70 million annual cost reduction and productivity improvement plan.
In the quarter, the company had an operating cash outflow of $1 million, and debt stood at $411 million.
Tamara Lundgren, Chairman and Chief Executive Officer, said, &#8220;Although market conditions continued to remain challenging during the quarter, our operating performance reflected the benefits from delivering our cost reduction and productivity improvement programs and successfully increasing sales volumes for all of our products and services.&#8221;&nbsp;&nbsp;&nbsp;
&#8220;We expect that as manufacturing activity improves and construction activity picks up, supply flows should expand. Independent of the timing of that recovery, we are continuing to see benefits from progress on our strategic initiatives which include investments in advanced nonferrous metal recovery technologies and <a href="https://www.benzinga.com/calendars/guidance">expansion of our recycling services platform.&#8221;</a>
Dividend: The board declared a cash dividend per share of $0.1875, payable on August 5, to shareholders of record as of July 22.&nbsp;
Price Action: RDUS shares are trading lower by 13.2% at $13.27 at the last check Tuesday.
Photo via Shutterstock

Radius Recycling shares are trading lower after the company reported worse-than-expected Q3 sales results.

Earnings Misses

Radius Recycling Q3 2024 Adj EPS $(0.59) Beats $(0.66) Estimate, Sales $673.920M Miss $693.900M Estimate

The CNN Money Fear and Greed index showed some improvement in the overall market sentiment, while the index remained in the &#8220;Neutral&#8221; zone on Monday.
U.S. stocks recorded gains on Monday, with the Nasdaq Composite settling at a record level during the session. Shares of  Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) gained 2.2%, while Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) gained around 2.9% on Monday.
The technology-heavy Nasdaq jumped 18.1% in the first half of the year, while the S&amp;P 500 surged 14.5%.
Most sectors on the S&amp;P 500 closed on a negative note, with materials, industrials, and real estate stocks recording the biggest losses on Monday. However, information technology and consumer discretionary stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed higher by over 50 points to 39,169.52 on Monday. The S&amp;P 500 rose 0.27% at 5,475.09, while the Nasdaq Composite climbed 0.83% at 17,879.30 during Monday's session.
Investors are awaiting earnings results from MSC Industrial Direct Co., Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSM#NYSE">MSM</a>), Radius Recycling, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDUS#NASDAQ">RDUS</a>), and Simulations Plus, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLP#NASDAQ">SLP</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 48.1, the index remained in the &#8220;Neutral&#8221; zone on Monday, versus a prior reading of 48.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
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Nasdaq Closes At Record High Led By Microsoft And Apple: Fear & Greed Index In 'Neutral' Zone

With U.S. stock futures trading lower this morning on Tuesday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects MSC Industrial Direct Co., Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSM#NYSE">MSM</a>) to report quarterly earnings at $1.50 per share on revenue of $1.01 million before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. MSC Industrial Direct shares gained 1.1% to $79.10 in the after-hours trading session.</li>
<li>Y-mAbs Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/YMAB#NASDAQ">YMAB</a>) named Peter Pfreundschuh as Chief Financial Officer, effective June 28. Y-mAbs Therapeutics shares fell 2.3% to $11.56 in the after-hours trading session.</li>
<li>Analysts are expecting Radius Recycling, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDUS#NASDAQ">RDUS</a>) to post a quarterly loss at $0.66 per share on revenue of $693.90 million. The company will release earnings results before the markets open. Radius Recycling shares gained 4.6% to $15.99 in the after-hours trading session.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
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<li>Fly-E Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLYE#NASDAQ">FLYE</a>) posted FY24 earnings of $0.9 per share, up from $0.6 per share in the year-ago period. The company's revenue rose to $32.2 million from $21.8 million. Fly-E Group shares fell 0.9% to $5.44 in the after-hours trading session.</li>
<li>Analysts expect Simulations Plus, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLP#NASDAQ">SLP</a>) to post quarterly earnings at $0.15 per share on revenue of $17.96 million after the closing bell. Simulations Plus shares gained 0.7% to $46.48 in after-hours trading.</li>
</ul>
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MSC Industrial Direct, Radius Recycling And 3 Stocks To Watch Heading Into Tuesday

Top Stories for May 30, 2024:
1. U.S. Steel (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) and Nippon Steel have received all <a href="https://www.benzinga.com/m-a/24/05/39086020/u-s-steel-and-nippon-steel-receive-all-regulatory-approvals-outside-u-s-related-to-proposed-transact">necessary regulatory approvals</a> outside the U.S. for their proposed transaction.&nbsp;
Approvals came from various international competition authorities, including those in the EU, Mexico, Serbia, Slovakia, Turkey and the UK.&nbsp;
U.S. Steel CEO David B. Burritt stated that the approvals confirm the transaction&#8217;s pro-competitive nature and its strategic benefits, enhancing the firm's position as a leading global steelmaker and strengthening the U.S.-Japan alliance against China.
2. After over five weeks of discussions, BHP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>) couldn't reach an agreement to acquire Anglo American (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AAUKF#OTC">AAUKF</a>) due to disagreements on South African regulatory risk and cost.&nbsp;
BHP was interested in Anglo American&#8217;s valuable copper assets in South America, and maintains that its proposal was the best way to deliver value to Anglo American shareholders.&nbsp;
BHP is disappointed that Anglo American&#8217;s board has ceased discussions and says that Anglo American&#8217;s assertion about the proposal&#8217;s value risk being solely borne by its shareholders is inaccurate.
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3. U.S. GoldMining (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/USGO#NASDAQ">USGO</a>) announced the release of its sustainability initiatives summary for the past year.&nbsp;
The factsheet highlights the company&#8217;s governance on sustainability risks and its performance on environmental and community initiatives.&nbsp;
Key points include advancing the Whistler Gold-Copper Project in Alaska, contributing to local economic growth and spending $4.3 million with local suppliers
The company also supported community causes with over $60,000 in donations and emphasized health and safety with extensive training.&nbsp;
Finally, the company achieved 50% female representation on its Board of Directors.
4. Reliance&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RS#NYSE">RS</a>) short interest has increased by 10.23%, with 1.04 million shares sold short, representing 2.37% of available shares.&nbsp;
At current levels, it would take traders 3.35 days to cover these positions.
5. Alpha Metallurgical&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMR#NYSE">AMR</a>) short interest has increased by 9.28%, with 1.39 million shares sold short, representing 15.66% of available shares.&nbsp;
At current levels, it would take traders 6.76 days to cover these positions.
6. Seaport Global analyst Martin Englert upgraded Radius Recycling (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDUS#NASDAQ">RDUS</a>) from Sell to Neutral.
Now Read:<a href="https://www.benzinga.com/"> </a><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/39067404/this-gold-mine-operator-will-outperform-peers-analyst-says-expect-improvement-at-ol">This Gold Mine Operator Will Outperform Peers, Analyst Says: &#8216;Skouries Construction Gains Momentum&#8217;</a>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get connected with the Benzinga community!
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Regulatory Approvals For US Steel Deal; BHP-Anglo American Deal Falls Through; US GoldMining Sustainability Highlights And More: Thursday's Top Mining Stories

Seaport Global analyst Martin Englert upgrades Radius Recycling (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDUS#NASDAQ">RDUS</a>) from Sell to Neutral.

Upgrades

Seaport Global Upgrades Radius Recycling to Neutral

Top Stories for April 4, 2024:
<ol>
<li>Radius Recycling (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDUS#NASDAQ">RDUS</a>) reported a fiscal second-quarter loss of $34 million (per-share loss of $1.19), adjusted EBITDA of $3 million and per-share loss of $1.04 <a href="https://www.benzinga.com/news/earnings/24/04/38088715/schnitzer-steel-q2-adj-1-04-beats-1-09-estimate-sales-621-06m-miss-626-15m-estimate">from continuing operations</a>. </li>
</ol>
The company faced challenges in the quarter due to tight recycled metal supplies, adverse weather and low U.S. manufacturing activity.&nbsp;
Ferrous sales dropped 15% quarter-over-quarter, nonferrous sales fell 3% but grew 7% year-over-year and finished steel sales rose 5% year-over-year but fell 11% quarter-over-quarter.&nbsp;
The company initiated a plan to cut SG&amp;A by 10% and improve production efficiency, aiming for $40 million in annual benefits and adding to a prior $30 million benefits plan.
<ol start="2">
<li>American Battery Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABAT#NASDAQ">ABAT</a>) was granted an additional $40.5 million through the 48C program for a new battery recycling facility in the U.S., adding to an initial $20 million tax credit for a Nevada project.&nbsp;</li>
</ol>
This award comes from a competitive process by the U.S. Department of Energy to support the company's efforts in low-cost, environmentally friendly lithium-ion battery recycling and the production of recycled battery materials.&nbsp;
CEO Ryan Melsert mentioned extensive engagement with major automotive and battery manufacturers and plans for this new facility to increase domestic critical battery mineral manufacturing, leveraging the new government-supported investment.
Also Read:<a href="https://www.benzinga.com/topic/mining"> </a><a href="https://www.benzinga.com/markets/commodities/24/04/38079319/gold-fields-celebrates-first-gold-pour-at-salares-norte-boosts-chilean-production-outlook">Gold Fields Celebrates First Gold Pour At Salares Norte, Boosts Chilean Production Outlook</a>
<ol start="3">
<li>Nexa Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEXA#NYSE">NEXA</a>) priced a $600-million offering of 6.75% senior unsecured notes guaranteed by two subsidiaries due in 2034, aiming for an April 9, 2024, closing. </li>
</ol>
The proceeds are mainly intended to fund a cash tender offer for existing notes due in 2027 and 2028, with any remainder for general corporate purposes.&nbsp;
The sale is targeting qualified institutional buyers and non-U.S. persons.
<ol start="4">
<li>Large investors are showing a predominantly bearish stance on Newmont (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>), as revealed by Benzinga&#8217;s tracking of public options activities, which detected unusual activity of nine notable transactions.&nbsp;</li>
</ol>
The sentiment among these investors is mixed, with 44% bullish and 55% bearish. The trading involved two puts worth $250,920 and seven calls valued at $805,535, suggesting an expected price range for Newmont of $30 to $42.50 in the coming three months.
<ol start="5">
<li>Deutsche Bank analyst Liam Fitzpatrick maintained Vale S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VALE#NYSE">VALE</a>) with a Hold and lowered his <a href="https://www.benzinga.com/quote/VALE/analyst-ratings">price target</a> from $18 to $16.</li>
</ol>
Now Read:<a href="https://www.benzinga.com/"> </a><a href="https://www.benzinga.com/markets/asia/24/04/38090219/will-copper-reach-10-000-an-essential-metal-that-faces-an-uncertain-future">Will Copper Reach $10,000? &#8216;An Essential Metal That Faces An Uncertain Future&#8217;</a>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get connected with the Benzinga community!
Illustration created using artificial intelligence via MidJourney.

ABAT

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Radius Recycling Reports Q2 Results; American Battery Awarded Another $40.5 Million; Nexa Prices $600 Million Offering And More: Thursday's Top Mining Stories

Radius Recycling, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDUS#NASDAQ">RDUS</a>) shares are trading lower after it reported <a href="https://www.benzinga.com/pressreleases/24/04/g38088365/radius-recycling-reports-second-quarter-fiscal-2024-financial-results" target="_blank" rel="noreferrer noopener">second-quarter (Q2) financial results for 2024</a>.
Revenue stood at $621.06 million, beating the consensus of $626.15 million.
Gross margin declined to $40 million from $73 million a year ago, and adjusted EBITDA decreased to $3 million, compared to $32 million a year ago.
Ferrous sales volumes (LT, in thousands) decreased to 980 from 1,263 a year ago; adjusted EBITDA per ferrous ton sold ($/LT) was $3 compared to $25 in the prior-year quarter.
Avg. net ferrous sales prices ($/LT) rose to $384 from $367 in Q2 FY23. Finished steel average net sales price ($/ST) came in at $832 (vs. 943 a year ago), and sales volumes (ST, in thousands) of 114 (vs. 109 in the comparable period).
Finished steel sales volumes increased on the continued strength of non-residential and infrastructure demand in the Western U.S.
Adjusted loss per share: $1.04, beating the <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">consensus of $1.09</a>.
Radius implemented a plan to deliver $40 million in annual benefits by reducing selling, general, and administrative expenses by 10%.
Radius CEO Tamara Lundgren says &#8220;near-term market conditions for recycled metals are challenging&#8221; amid cyclical headwinds. The plan is to position Radius &#8220;to benefit from an improvement in market conditions and positive structural demand tailwinds.&#8221;     
&#8220;Scrap supply flows should benefit from a decline in U.S. interest rates and a recovery in global manufacturing activity. Additionally, the long-term structural demand for recycled metals remains positive, supported by the increased focus on decarbonization, the transition to low-carbon technologies, and the anticipated demand associated with the Infrastructure Investment and Jobs Act and the Inflation Reduction Act, including Buy Clean provisions.&#8221;&nbsp;&nbsp;
Dividend: The board declared a cash dividend per share of $0.1875. It&#8217;s payable on May 6 to shareholders of record as of April 22, 2024.
Investors can gain exposure to the stock via two ETFs. They are VanEck Environmental Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EVX#NYSE">EVX</a>) and SPDR S&amp;P Metals &amp; Mining ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XME#NYSE">XME</a>).
Price Action:&nbsp;RDUS shares are trading lower by 6.95% at $18.75 on the last check Thursday.

Market Vectors Environmental Services Index Fund

Why Radius Recycling Shares Are Trading Lower Today

Schnitzer Steel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDUS#NASDAQ">RDUS</a>) reported quarterly losses of $(1.04) per share which beat the analyst consensus estimate of $(1.09) by 4.59 percent. This is a 842.86 percent decrease over earnings of $0.14 per share from the same period last year. The company reported quarterly sales of $621.06 million which missed the analyst consensus estimate of $626.15 million by 0.81 percent. This is a 17.84 percent decrease over sales of $755.95 million the same period last year.

Schnitzer Steel Q2 Adj $(1.04) Beats $(1.09) Estimate, Sales $621.06M Miss $626.15M Estimate

<h3>Companies Reporting Before The Bell</h3>
&bull; Conagra Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAG#NYSE">CAG</a>) is likely to report quarterly earnings at $0.65 per share on revenue of $3.01 billion.
&bull; Trinity Biotech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRIB#NASDAQ">TRIB</a>) is projected to report quarterly earnings at $0.00 per share on revenue of $15.00 million.
&bull; AngioDynamics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ANGO#NASDAQ">ANGO</a>) is estimated to report quarterly loss at $0.13 per share on revenue of $75.73 million.
&bull; WisdomTree International LargeCap Dividend Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOL#NYSE">DOL</a>) is likely to report quarterly earnings at $1.06 per share on revenue of $1.61 billion.
&bull; Reliance Global Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RELI#NASDAQ">RELI</a>) is likely to report earnings for its fourth quarter.
&bull; Lamb Weston Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LW#NYSE">LW</a>) is estimated to report quarterly earnings at $1.45 per share on revenue of $1.65 billion.
&bull; Radius Recycling (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDUS#NASDAQ">RDUS</a>) is likely to report quarterly loss at $1.09 per share on revenue of $626.15 million.
&bull; Simply Good Foods (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMPL#NASDAQ">SMPL</a>) is likely to report quarterly earnings at $0.38 per share on revenue of $316.88 million.
&bull; CollPlant Biotechnologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLGN#NASDAQ">CLGN</a>) is estimated to report quarterly loss at $0.07 per share on revenue of $8.56 million.
&bull; RPM Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RPM#NYSE">RPM</a>) is estimated to report quarterly earnings at $0.46 per share on revenue of $1.52 billion.
&bull; Lindsay (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LNN#NYSE">LNN</a>) is estimated to report quarterly earnings at $1.55 per share on revenue of $172.06 million.
<h3>Companies Reporting After The Bell</h3>
&bull; Conifer Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNFR#NASDAQ">CNFR</a>) is likely to report quarterly loss at $0.02 per share on revenue of $15.46 million.
&bull; Movano (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MOVE#NASDAQ">MOVE</a>) is estimated to report earnings for its fourth quarter.
&bull; Kura Sushi USA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KRUS#NASDAQ">KRUS</a>) is projected to report quarterly loss at $0.03 per share on revenue of $56.64 million.
&bull; Genfit (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GNFT#NASDAQ">GNFT</a>) is likely to report earnings for its Fiscal Year 2023.
This article was generated by Benzinga&#39;s automated content engine and reviewed by an editor.

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Earnings Scheduled For April 4, 2024

Press Releases

Radius Recycling Announces Fourth Quarter and Fiscal 2024 Earnings Date and Webcast Details

Radius Recycling Reports Fourth Quarter and Fiscal 2024 Financial Results

Radius Recycling, Inc. Appoints Mauro Gregorio to its Board of Directors

Radius Recycling, Inc. Appoints Marc Hathhorn as Chief Operating Officer

Contracts

Radius Pharmaceuticals Expands Abaloparatide Licensing Agreement with Theramex Granting Additional Commercialization Rights Including Mexico, Canada, South Africa, Israel, and Russia

Radius Recycling Publishes Fiscal Year 2024 Sustainability Report

Radius Recycling Announces First Quarter Fiscal 2025 Earnings Date and Webcast Details

Radius Pharmaceuticals Announces Licensing Agreement with Pharmanovia to Register and Commercialize Abaloparatide in China and Select Asia Pacific Territories

Radius Recycling Reports First Quarter Fiscal 2025 Financial Results

QXO Proposes Full Slate of Independent Directors for Election at Beacon Roofing Supply's 2025 Annual Meeting

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