Latest news for Royalties (OTC:ROYIF) Stock

Royalties Inc is a mineral exploration and development company, which is focused on the development of precious and base metal projects in the State of Zacatecas, Mexico. The company holds an interest in La Laguna Project and Bilbao Projects. The La Laguna Project consists of a silver-gold tailings project in Zacatecas, which consists of tailings solids derived from mine processing wastes and tailings, whereas the Bilbao Project is a polymetallic sulfide and oxide replacement silver- lead-zinc-copper deposit. The company explores precious and base metal projects. Geographically, the business presence of the group is seen in the regions of Canada and Mexico.

Royalties Inc

Earnings

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News

TWKS

Thoughtworks Holding Q2 2024 Adj. EPS $(0.03) Misses $0.00 Estimate, Sales $251.671M Beat $251.312M Estimate

Baird analyst Ghansham Panjabi maintains Celanese (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CE#NYSE">CE</a>) with a Outperform and lowers the price target from $180 to $150.

Price Target

Analyst Ratings

Baird Maintains Outperform on Celanese, Lowers Price Target to $150

Keybanc analyst Aleksey Yefremov maintains Albemarle (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>) with a Overweight and lowers the price target from $151 to $132.

Keybanc Maintains Overweight on Albemarle, Lowers Price Target to $132

Seaport Global analyst Kenneth Zener downgrades LGI Homes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGIH#NASDAQ">LGIH</a>) from Neutral to Sell and announces $85 price target.

Downgrades

LGIH

Seaport Global Downgrades LGI Homes to Sell, Announces $85 Price Target

The cryptocurrency ETF market experienced a significant reversal last week, with net outflows <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40136673/bitcoin-tanks-on-weak-payroll-data-experts-weigh-in-how-a-fed-rate-cut-would-impact-crypto">totaling $528 million</a>. 
What Happened: This marks the first outflow period in four weeks, highlighting the impact of growing concerns about a potential <a href="https://www.benzinga.com/news/24/07/40062132/paul-krugman-warns-of-pre-recession-signals-says-sahm-rule-is-currently-sending-the-right-cautionary">U.S. recession</a>, <a href="https://www.benzinga.com/news/24/08/40149966/israel-strikes-gaza-hospital-amid-concerns-of-wider-war">geopolitical tensions</a> and <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40153940/bitcoin-crashes-below-50k-briefly-crypto-market-records-over-1b-in-liquidations-in-24-hour">widespread liquidations</a> across various asset classes.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), the world&#8217;s leading cryptocurrency, bore the brunt of this market sentiment, seeing outflows of $400 million — its first negative flow after five consecutive weeks of inflows.
Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) followed suit with outflows of $146 million, bringing its total net outflows since the launch of U.S. ETFs to $430 million.
The sell-off was particularly pronounced in the United States, which accounted for $531 million in outflows. 
Germany and Hong Kong also saw outflows of $12 million and $27 million, respectively. 
However, some regions viewed the price weakness as an opportunity, with Canada and Switzerland reporting inflows of $17 million and $28 million, respectively.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/ "><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/27091545/Benzinga-conference.gif" alt="Benzinga future of digital assets conference" class="wp-image-267246" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40128213/bitcoin-ethereum-etfs-record-net-inflows-on-thursday-as-ark-invest-rebalances-portfolio">Bitcoin, Ethereum ETFs Record Net Inflows On Thursday As Ark Invest Rebalances Portfolio</a>
Breaking down the ETF landscape, Grayscale&#8217;s Bitcoin Trust (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GBTC#OTC">GBTC</a>) continued its streak of outflows, shedding $245 million in the week of July 29 to Aug. 2, bringing its historical net outflow to a staggering $19.06 billion, according to <a href="https://sosovalue.com/assets/etf/us-btc-spot">data </a>from SoSo Value.
In contrast, BlackRock&#8217;s iShares Bitcoin Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>) saw a weekly net inflow of $370 million, pushing its total historical net inflow to $20.1 billion.
On the Ethereum front, spot ETFs experienced a net outflow of $169 million last week, according to <a href="https://sosovalue.xyz/assets/etf/us-eth-spot">data</a>. 
Grayscale&#8217;s Ethereum Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETHE#NYSE">ETHE</a>) saw significant outflows of $603 million, bringing its historical net outflow to $2.12 billion. 
BlackRock&#8217;s iShares Ethereum Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETHA#NASDAQ">ETHA</a>), however, bucked the trend with an inflow of $271 million, raising its total net inflow to $713 million.
James Butterfill, Head of Research at CoinShares <a href="https://blog.coinshares.com/volume-194-digital-asset-fund-flows-weekly-report-578a4db60706">said </a>digital asset investment products saw outflows for the first time in 4 weeks totaling $528 million in what we believe is a reaction to fears of a recession in the US, geopolitical concerns and consequent broader market liquidations across most asset classes.&#8221;
The market turbulence has had a significant impact on the total assets under management (AuM) in crypto ETPs, with $10 billion wiped off since Friday&#8217;s close. 
Trading volumes in ETPs reached $14.8 billion last week, representing a lower than average 25% of the total market.
What Happened: Industry stakeholders and investors are expected to delve deeper into these issues at Benzinga&#8217;s <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40118215/vice-president-kamala-harris-chances-up-to-43-is-her-crypto-pivot-driving-the-surge">Vice President Kamala Harris&#8217; Chances Up To 43%: Is Her Crypto Pivot Driving The Surge?</a></li>
</ul>
Image: Shutterstock

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

Cryptocurrency

$BTC

$ETH

ETHA

ETHE

GBTC

IBIT

Bitcoin, Ethereum ETFs Saw $528M Net Outflows Last Week As BTC Plunges To $51,000

Seaport Global analyst Kenneth Zener downgrades Lennar (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>) from Buy to Neutral.

Seaport Global Downgrades Lennar to Neutral

AST SpaceMobile, Inc. (&quot;AST SpaceMobile&quot;) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTS#NASDAQ">ASTS</a>), the company building the first and only space-based cellular broadband network accessible directly by everyday smartphones, designed for both commercial and government applications, today announced that the U.S. Federal Communications Commission (FCC) has granted an initial license for space-based operations in the United States. With this initial license, AST SpaceMobile is now authorized to launch and operate V, S and UHF frequencies to support gateway, feeder link and telemetry, tracking, and control operations for the first five commercial BlueBird satellites.

Government

Regulations

ASTS

AST SpaceMobile Gets FCC Approval to Launch First Five Commercial BlueBird Satellites For Space-Based Cellular Network

Keybanc analyst Tim Rezvan upgrades Gulfport Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPOR#NYSE">GPOR</a>) from Sector Weight to Overweight and announces $160 price target.

Upgrades

GPOR

Keybanc Upgrades Gulfport Energy to Overweight, Announces $160 Price Target

Baird analyst Robert Mason maintains Atmus Filtration Techs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ATMU#NYSE">ATMU</a>) with a Outperform and raises the price target from $36 to $37.

ATMU

Baird Maintains Outperform on Atmus Filtration Techs, Raises Price Target to $37

Baird analyst Catherine Ramsey maintains Twist Bioscience (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TWST#NASDAQ">TWST</a>) with a Outperform and raises the price target from $40 to $46.

TWST

Baird Maintains Outperform on Twist Bioscience, Raises Price Target to $46

<ul>
<li>Additional head-to-head randomized clinical trial demonstrating overall survival benefit with Iomab-B is required by FDA to support a BLA filing.</li>
<li>Actinium to request a meeting with the FDA to further discuss specifics of additional trial.</li>
<li>Actinium will seek strategic partner for Iomab-B in the U.S. following completion of FDA interactions and focus development efforts on Actimab-A, Iomab-ACT and preclinical programs</li>
</ul>

Biotech

Health Care

General

ATNM

FDA Determines That Actinium Pharmaceuticals' Phase 3 Sierra Trial Is Not Adequate To Support A BLA Filing For Iomab-B For Relapsed Or Refractory Acute Myeloid Leukemia, Despite Its Statistically Significant Primary Endpoint

WIIM

Actinium shares are trading lower after the FDA determined that its Phase 3 SIERRA trial is not adequate to support a BLA filing for Iomab-B.

Rival automakers making <a href="https://www.benzinga.com/news/24/08/40145024/ford-reports-31-increase-in-ev-sales-driven-by-popularity-of-tesla-cybertruck-rival-f-150-lightning">EVs undercutting</a> Tesla Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) offerings while also incurring significant losses is a problem, admitted the company&#8217;s CEO Elon Musk.
What Happened: &#8220;Other companies dumping EVs at massive negative gross margin is a problem, but not one that will last,&#8221; Musk said. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Other companies dumping EVs at massive negative gross margin is a problem, but not one that will last
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1819804766312296549?ref_src=twsrc%5Etfw">August 3, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Musk was referring to companies that discount their EVs to a point below Tesla in a bid to increase sales while also accumulating significant losses.
For instance,&nbsp;<a href="https://www.benzinga.com/news/24/07/39630731/mustang-mach-e-drives-fords-q2-ev-sales-ahead-of-gm-but-its-still-just-a-fraction-of-elon-musks-tesl" target="_blank" rel="noreferrer noopener">Ford sold 23,957 EVs</a> in the U.S. in the second quarter, making it the second best-selling EV brand after Tesla. Its 2024 model year Mustang Mach-E SUV starts at $39,995 and is directly up against Tesla&#8217;s Model Y which starts a $44,990. 
Ford's EV segment, called &#8220;Model e,&#8221; subsequently recorded an EBIT loss of $1.14 billion <a href="https://www.benzinga.com/news/earnings/24/07/39943178/ford-q2-earnings-highlights-revenue-beat-eps-miss-transit-vans-hit-record-ev-sales-fall-37" target="_blank" rel="noreferrer noopener">in the second quarter</a> and a negative EBIT margin of 99.5%. For the whole year, Ford expects to incur a loss of $5 billion to $5.5 billion within the EV segment.
Why It Matters: Musk addressed the lower-priced rival EV offerings in the company&#8217;s second-quarter earnings call last month as well. 
After large adoption and acceleration of EVs, the market witnessed &#8220;a bit of a hangover&#8221; as rivals struggled to make compelling EVs, Musk then said. 
&#8220;So there have been quite a few competing electric vehicles that have entered the market and mostly, they have not done well, but they have discounted their EVs quite substantially, which has made it more a bit difficult for Tesla,&#8221; Musk said. &nbsp;&#8220;We don&#8217;t see this as a long-term issue, but really as fairly short term.&#8221;
Tesla delivered <a href="https://www.benzinga.com/markets/equities/24/07/39595720/tesla-deliveries-fall-for-second-straight-quarter-but-stock-takes-off-as-q2-numbers-exceed-expec">443,956 EVs globally in the second quarter</a>, marking a nearly 4.8% drop from the corresponding period last year. 
The company said last month that it plans to start producing new vehicles, including more affordable ones, starting in the first half of 2025. Currently, Tesla&#8217;s cheapest offering is the Model 3 sedan which starts at $38,990. 
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/24/08/40154264/trump-says-electric-cars-are-fantastic-after-tesla-ceo-elon-musks-endorsement-i-have-to-be-you-know">Trump Says Electric Cars Are &#8216;Fantastic&#8217; After Tesla CEO Elon Musk&#8217;s Endorsement: &#8216;I Have To Be, You Know… I Have No Choice&#8217;</a></li>
</ul>
Photo courtesy: Shutterstock

Tech

TSLA

Tesla CEO Elon Musk Admits Lower Priced EVs From Rival Automakers Are A Problem, But 'Not One That Will Last'

Axsome Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AXSM#NASDAQ">AXSM</a>) reported quarterly losses of $(1.12) per share which beat the analyst consensus estimate of $(1.34) by 16.42 percent.&nbsp;

AXSM

Axsome Therapeutics Q2 2024 Adj. EPS $(1.12) Beats $(1.34) Estimate

Hovde Group analyst David Bishop upgrades Renasant (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNST#NYSE">RNST</a>) from Market Perform to Outperform.

RNST

Hovde Group Upgrades Renasant to Outperform

The purchase price represents a&nbsp;30%&nbsp;premium to Thoughtworks&#39; closing stock price on August 2, 2024, the last full trading day prior to the transaction announcement, and a premium of approximately&nbsp;48%&nbsp;over the volume weighted average price of Thoughtworks&#39; stock for the 30 days ending August 2, 2024.

Thoughtworks Agrees To Be Taken Private By Apax Funds For $4.40 Per Share, Which Implies Total Enterprise Value Of $1.75B

Baird analyst Jeff Johnson maintains DexCom (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXCM#NASDAQ">DXCM</a>) with a Neutral and raises the price target from $80 to $82.

DXCM

Baird Maintains Neutral on DexCom, Raises Price Target to $82

Seaport Global analyst Kenneth Zener downgrades PulteGroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>) from Buy to Neutral.

Seaport Global Downgrades PulteGroup to Neutral

Baird analyst Jeff Johnson downgrades DexCom (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXCM#NASDAQ">DXCM</a>) from Outperform to Neutral and lowers the price target from $161 to $80.

Baird Downgrades DexCom to Neutral, Lowers Price Target to $80

Seaport Global analyst Mark Weintraub downgrades Toll Brothers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>) from Neutral to Sell and announces $108 price target.

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