We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
FMC Corp (FMC) Revises Operating Agreements in Argentina
Read MoreHide Full Article
FMC Corporation (FMC - Free Report) has revised its operating agreements in Argentina. The move will enable the company to expand production and complete a major step toward the intended separation of its lithium business this year.
The amended operating agreements update FMC Corp’s corporate social responsibility programs and royalties in Argentina and remove restrictions that could prevent a change of control over its lithium business. Notably, the revised royalties and CSR programs are consistent with the current commitments.
FMC Corp expects to double its production in Argentina over the next several years with total annual output to be more than 40,000 metric tons of lithium carbonate equivalents.
Notably, FMC Corp’s debottlenecking projects in Argentina contributed to its third-quarter results. The completed project has a deferred run rate of 2,000 tons per annum of carbonate and will be at the full run rate of 4,000 ton by the end of 2018.
During third-quarter earnings call, FMC Corp stated that it will continue to move ahead with the expansion in Argentina where it aims to add at least 20,000 tons of lithium carbonate capacity with an initial investment between $250 and $300 million. The engineering work is under progress and discussions are on with the local authorities to finalize these plans. The company will provide an update on plans to separate its lithium business and expand its Argentina operations during its fourth-quarter 2017 earnings call.
Shares of FMC Corp have gained 6.9% in the last three months, outperforming the industry’s 5.6% growth.
In November last year, FMC Corp had raised its earnings outlook for 2017 and now sees adjusted earnings in the range of $2.59-$2.69 per share for the year (up from the prior view of $2.30-$2.50), which includes the impact of two months contribution from the DuPont Crop Protection acquisition.
FMC Corp is gaining from its strategic investments, acquisitions and efforts to expand its market position and strengthen its portfolio. Upbeat prospects for the company’s Lithium unit have also provided a boost to its shares.
The company is expanding its lithium hydroxide production capacity in three phases. The move is based on the growing demand for electric vehicles.
Huntsman has an expected long-term earnings growth rate of 8%. Its shares have soared 78.8% over a year.
Daqo New Energy has an expected long-term earnings growth rate of 7%. Its shares have rallied a whopping 205.3% over a year.
Kronos Worldwide has an expected long-term earnings growth rate of 5%. Its shares have surged 99.5% in the last year.
Zacks Editor-in-Chief Goes "All In" on This Stock
Full disclosure, Kevin Matras now has more of his own money in one particular stock than in any other. He believes in its short-term profit potential and also in its prospects to more than double by 2019. Today he reveals and explains his surprising move in a new Special Report.
Image: Bigstock
FMC Corp (FMC) Revises Operating Agreements in Argentina
FMC Corporation (FMC - Free Report) has revised its operating agreements in Argentina. The move will enable the company to expand production and complete a major step toward the intended separation of its lithium business this year.
The amended operating agreements update FMC Corp’s corporate social responsibility programs and royalties in Argentina and remove restrictions that could prevent a change of control over its lithium business. Notably, the revised royalties and CSR programs are consistent with the current commitments.
FMC Corp expects to double its production in Argentina over the next several years with total annual output to be more than 40,000 metric tons of lithium carbonate equivalents.
Notably, FMC Corp’s debottlenecking projects in Argentina contributed to its third-quarter results. The completed project has a deferred run rate of 2,000 tons per annum of carbonate and will be at the full run rate of 4,000 ton by the end of 2018.
During third-quarter earnings call, FMC Corp stated that it will continue to move ahead with the expansion in Argentina where it aims to add at least 20,000 tons of lithium carbonate capacity with an initial investment between $250 and $300 million. The engineering work is under progress and discussions are on with the local authorities to finalize these plans. The company will provide an update on plans to separate its lithium business and expand its Argentina operations during its fourth-quarter 2017 earnings call.
Shares of FMC Corp have gained 6.9% in the last three months, outperforming the industry’s 5.6% growth.
In November last year, FMC Corp had raised its earnings outlook for 2017 and now sees adjusted earnings in the range of $2.59-$2.69 per share for the year (up from the prior view of $2.30-$2.50), which includes the impact of two months contribution from the DuPont Crop Protection acquisition.
FMC Corp is gaining from its strategic investments, acquisitions and efforts to expand its market position and strengthen its portfolio. Upbeat prospects for the company’s Lithium unit have also provided a boost to its shares.
The company is expanding its lithium hydroxide production capacity in three phases. The move is based on the growing demand for electric vehicles.
FMC Corporation Price and Consensus
FMC Corporation Price and Consensus | FMC Corporation Quote
Zacks Rank & Stocks to Consider
FMC Corp currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Huntsman Corporation (HUN - Free Report) , Daqo New Energy Corp. (DQ - Free Report) and Kronos Worldwide Inc. (KRO - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Huntsman has an expected long-term earnings growth rate of 8%. Its shares have soared 78.8% over a year.
Daqo New Energy has an expected long-term earnings growth rate of 7%. Its shares have rallied a whopping 205.3% over a year.
Kronos Worldwide has an expected long-term earnings growth rate of 5%. Its shares have surged 99.5% in the last year.
Zacks Editor-in-Chief Goes "All In" on This Stock
Full disclosure, Kevin Matras now has more of his own money in one particular stock than in any other. He believes in its short-term profit potential and also in its prospects to more than double by 2019. Today he reveals and explains his surprising move in a new Special Report.
Download it free >>