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5E Advanced Materials (FEAM) Starts Operation at Boron Americas
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5E Advanced Materials, Inc. (FEAM - Free Report) said that it has officially commenced mining operations at its 5E Boron Americas Complex with the start of the wellfield injection process.
The company is utilizing its EPA UIC permit to begin extracting precious minerals from its fully-owned Fort Cady project. It recently declared its operational strategy and has begun wellfield operations with the goal of concurrently finishing outstanding operational items at the facility.
FEAM aims to start lab production in the near future and production of boric acid and lithium carbonate from the facility by the end of the first quarter of 2024. As the company looks to secure bankable offtake deals, this initial production will be used for client qualification.
The company is excited about reaching this significant milestone by launching mining operations at its 5E Boron Americas Complex. The 5E crew has remained strong throughout the construction phase, overcoming numerous obstacles and eventually putting the facility online. The company looks forward to 2024 as it executes its objective, having just joined the ranks of the country's producers of lithium carbonate and boric acid.
Shares of 5E have lost 83.3% over the past year against a 25.1% rise of its industry.
Image Source: Zacks Investment Research
Zacks Rank & Other Key Picks
5E currently carries a Zacks Rank #2 (Buy).
Other top-ranked stocks in the basic materials space include Centrus Energy Corp. (LEU - Free Report) , Axalta Coating Systems Ltd. (AXTA - Free Report) and Steel Dynamics Inc. (STLD - Free Report) .
Centrus Energy currently carries a Zacks Rank #1 (Strong Buy). The Zacks Consensus Estimate for LEU’s current-year earnings has been revised upward by 30.5% in the past 60 days. It beat the Zacks Consensus Estimate in three of the last four quarters while reporting in-line results on one occasion, with the average earnings surprise being 47.7%. The company’s shares have increased 58.1% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Axalta has a projected earnings growth rate of 5.4% for the current year. It currently carries a Zacks Rank #2. AXTA delivered a trailing four-quarter earnings surprise of roughly 6.7%, on average. The stock is up around 30.2% in a year.
The Zacks Consensus Estimate for Steel Dynamics’ current-year earnings has been revised upward by 4.3% in the past 60 days. It currently carries a Zacks Rank #1. Steel Dynamics delivered a trailing four-quarter earnings surprise of roughly 6.5%, on average. STLD shares are up around 25% in a year.
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5E Advanced Materials (FEAM) Starts Operation at Boron Americas
5E Advanced Materials, Inc. (FEAM - Free Report) said that it has officially commenced mining operations at its 5E Boron Americas Complex with the start of the wellfield injection process.
The company is utilizing its EPA UIC permit to begin extracting precious minerals from its fully-owned Fort Cady project. It recently declared its operational strategy and has begun wellfield operations with the goal of concurrently finishing outstanding operational items at the facility.
FEAM aims to start lab production in the near future and production of boric acid and lithium carbonate from the facility by the end of the first quarter of 2024. As the company looks to secure bankable offtake deals, this initial production will be used for client qualification.
The company is excited about reaching this significant milestone by launching mining operations at its 5E Boron Americas Complex. The 5E crew has remained strong throughout the construction phase, overcoming numerous obstacles and eventually putting the facility online. The company looks forward to 2024 as it executes its objective, having just joined the ranks of the country's producers of lithium carbonate and boric acid.
Shares of 5E have lost 83.3% over the past year against a 25.1% rise of its industry.
Image Source: Zacks Investment Research
Zacks Rank & Other Key Picks
5E currently carries a Zacks Rank #2 (Buy).
Other top-ranked stocks in the basic materials space include Centrus Energy Corp. (LEU - Free Report) , Axalta Coating Systems Ltd. (AXTA - Free Report) and Steel Dynamics Inc. (STLD - Free Report) .
Centrus Energy currently carries a Zacks Rank #1 (Strong Buy). The Zacks Consensus Estimate for LEU’s current-year earnings has been revised upward by 30.5% in the past 60 days. It beat the Zacks Consensus Estimate in three of the last four quarters while reporting in-line results on one occasion, with the average earnings surprise being 47.7%. The company’s shares have increased 58.1% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Axalta has a projected earnings growth rate of 5.4% for the current year. It currently carries a Zacks Rank #2. AXTA delivered a trailing four-quarter earnings surprise of roughly 6.7%, on average. The stock is up around 30.2% in a year.
The Zacks Consensus Estimate for Steel Dynamics’ current-year earnings has been revised upward by 4.3% in the past 60 days. It currently carries a Zacks Rank #1. Steel Dynamics delivered a trailing four-quarter earnings surprise of roughly 6.5%, on average. STLD shares are up around 25% in a year.