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AECOM (ACM) Wins Canada Government Deal to Restore Faro Mine
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AECOM’s (ACM - Free Report) shares grew 0.63% on Jun 6 after it announced that it has inked a deal with the Public Services and Procurement Canada to provide engineering services for the Faro Mine Remediation Project.
Per the contract, AECOM along with the Government of Canada, affected First Nations and additional consultants and partners will provide remediation plan design and quality assurance support services for one of the most complex abandoned mine clean-up projects.
The team will work in favor of human health and safety; safeguard the environment; maximize local and Yukon socio-economic benefits; manage long-term site risk cost-effectively; and return the mine site to an acceptable state of use that reflects pre-mine land use, where possible. To accomplish this, ACM and its team will undertake "stabilize-in-place" remediation approach, including decommissioning, removing mine infrastructure, and managing contaminated and treated water.
The contract for AECOM is expected to end in March 2024 and carries possible extensions.
Marc Devlin, chief executive officer of AECOM’s Canada region, stated, "Our team has been involved in the Faro Mine remediation for over fifteen years and we’re enormously honored to expand our partnership with the Government of Canada to help deliver this critical work, protecting our environment and restoring traditional territory for the surrounding communities."
With this project, ACM will focus more on its Sustainable Legacies strategy that aims at providing a better environment with such essential environmental remediation projects.
Solid Project Execution Aids AECOM
AECOM is a leading solutions provider for supporting professional, technical and management solutions for diverse industries across end markets like transportation, facilities, government and environmental, energy and water businesses. The major part of the U.S. government’s broad infrastructural plan is focused on transit and water markets, wherein AECOM enjoys a dominant position.
This leading professional, technical and management solution provider is witnessing a robust pipeline of pursuits across the business. It is benefiting from solid infrastructure spending in the U.K., Canada, Hong Kong and Australia.
Image Source: Zacks Investment Research
Among major industry bellwethers, AECOM appears to be highly attractive to investors. Shares of the company have gained 8.4% against the Zacks Engineering - R and D Services industry’s 0.8% fall in the past year.
AECOM has been banking on strength across core transportation, water, and environment markets and a solid backlog. Its focus on Environmental, Social and Governance or ESG-related services and digital initiatives are encouraging.
Other top-ranked stocks, which warrant a look in the Construction sector, include Patrick Industries (PATK - Free Report) , Beazer Homes USA (BZH - Free Report) and NVR, Inc. (NVR - Free Report) , each sporting a Zacks Rank #1.
Patrick Industries is a leading component solutions provider for the RV, marine, and manufactured housing industries. Like many others in the broader RV and consumer marine space, Patrick Industries is amid a massive run for revenue growth that began about a decade ago.
Patrick Industries’ expected earnings growth rate for 2022 is 33.1%.
Beazer Homes designs, builds and sells single-family homes. BZH designs homes to appeal primarily to entry-level and first move-up homebuyers. Beazer Homes USA’s objective is to provide customers with homes that have quality and value. BZH’s subsidiary, Beazer Mortgage, originates the mortgages for the company's homebuyers.
Beazer Homes’ expected earnings growth rate for fiscal 2022 is 48.9%.
NVR is engaged in the construction and sale of single-family detached homes, townhomes and condominium buildings, all of which are primarily constructed on a pre-sold basis. In order to serve homebuilding customers, NVR operates a mortgage banking and title services business. NVR operates in two business segments: Homebuilding and Mortgage Banking.
NVR’s expected earnings growth rate for the current year is 68.4%.
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AECOM (ACM) Wins Canada Government Deal to Restore Faro Mine
AECOM’s (ACM - Free Report) shares grew 0.63% on Jun 6 after it announced that it has inked a deal with the Public Services and Procurement Canada to provide engineering services for the Faro Mine Remediation Project.
Per the contract, AECOM along with the Government of Canada, affected First Nations and additional consultants and partners will provide remediation plan design and quality assurance support services for one of the most complex abandoned mine clean-up projects.
The team will work in favor of human health and safety; safeguard the environment; maximize local and Yukon socio-economic benefits; manage long-term site risk cost-effectively; and return the mine site to an acceptable state of use that reflects pre-mine land use, where possible. To accomplish this, ACM and its team will undertake "stabilize-in-place" remediation approach, including decommissioning, removing mine infrastructure, and managing contaminated and treated water.
The contract for AECOM is expected to end in March 2024 and carries possible extensions.
Marc Devlin, chief executive officer of AECOM’s Canada region, stated, "Our team has been involved in the Faro Mine remediation for over fifteen years and we’re enormously honored to expand our partnership with the Government of Canada to help deliver this critical work, protecting our environment and restoring traditional territory for the surrounding communities."
With this project, ACM will focus more on its Sustainable Legacies strategy that aims at providing a better environment with such essential environmental remediation projects.
Solid Project Execution Aids AECOM
AECOM is a leading solutions provider for supporting professional, technical and management solutions for diverse industries across end markets like transportation, facilities, government and environmental, energy and water businesses. The major part of the U.S. government’s broad infrastructural plan is focused on transit and water markets, wherein AECOM enjoys a dominant position.
This leading professional, technical and management solution provider is witnessing a robust pipeline of pursuits across the business. It is benefiting from solid infrastructure spending in the U.K., Canada, Hong Kong and Australia.
Image Source: Zacks Investment Research
Among major industry bellwethers, AECOM appears to be highly attractive to investors. Shares of the company have gained 8.4% against the Zacks Engineering - R and D Services industry’s 0.8% fall in the past year.
AECOM has been banking on strength across core transportation, water, and environment markets and a solid backlog. Its focus on Environmental, Social and Governance or ESG-related services and digital initiatives are encouraging.
Zacks Rank
AECOM currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
3 Construction Stocks Hogging the Limelight
Other top-ranked stocks, which warrant a look in the Construction sector, include Patrick Industries (PATK - Free Report) , Beazer Homes USA (BZH - Free Report) and NVR, Inc. (NVR - Free Report) , each sporting a Zacks Rank #1.
Patrick Industries is a leading component solutions provider for the RV, marine, and manufactured housing industries. Like many others in the broader RV and consumer marine space, Patrick Industries is amid a massive run for revenue growth that began about a decade ago.
Patrick Industries’ expected earnings growth rate for 2022 is 33.1%.
Beazer Homes designs, builds and sells single-family homes. BZH designs homes to appeal primarily to entry-level and first move-up homebuyers. Beazer Homes USA’s objective is to provide customers with homes that have quality and value. BZH’s subsidiary, Beazer Mortgage, originates the mortgages for the company's homebuyers.
Beazer Homes’ expected earnings growth rate for fiscal 2022 is 48.9%.
NVR is engaged in the construction and sale of single-family detached homes, townhomes and condominium buildings, all of which are primarily constructed on a pre-sold basis. In order to serve homebuilding customers, NVR operates a mortgage banking and title services business. NVR operates in two business segments: Homebuilding and Mortgage Banking.
NVR’s expected earnings growth rate for the current year is 68.4%.