The Chemours Company (CC - Free Report) inaugurated its innovation center, The Chemours Discovery Hub, on the University of Delaware’s Science, Technology and Advanced Research (“STAR”) campus.
The Chemours Discovery Hub is one of Delaware’s biggest R&D centers and one of the largest R&D facilities in the chemical industry. It has 312,000-square-feet space, comprising more than 130 individual laboratories. Notably, it was built in 24 months, without a single lost-time safety incident. Notably, the facility now houses more than 300 of the company's top scientists and researchers, consolidating most of its U.S. innovation activities into one location to boost collaboration and productivity.
Chemours Discovery Hub has secured a Three Globes rating from the Green Globes sustainable building rating system. Notably, some of Chemours’ products were used in the construction of the facility.
Chemours will strengthen its research partnership with the University of Delaware at the Discovery Hub and conduct experiments along with students and professors to create new usages for its products. Also, the company will use its innovation center to attract, and hire potential interns, co-ops and staff.
Per management, the company’s sustained investments in Delaware and an innovation pipeline will empower its customers and change the world for the better.
Chemours’ shares have lost 72.6% in the past year compared with the 45.8% decline recorded by its industry.
On the fourth-quarter earnings call, Chemours projected adjusted EBITDA of $1.05-$1.25 billion for 2020.
Capital expenditure for the year is anticipated to be approximately $400 million, while free cash flow is projected to be more than $350 million.
Moreover, adjusted earnings per share are forecast at $2.60-$3.55 for 2020.
The Chemours Company Price and Consensus
Zacks Rank & Stocks to Consider
Chemours currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Daqo New Energy Corp. (DQ - Free Report) , NovaGold Resources Inc. (NG - Free Report) and Barrick Gold Corporation (GOLD - Free Report) .
Daqo New Energy has a projected earnings growth rate of 353.7% for 2020. The company’s shares have rallied 71.3% in a year. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
NovaGold has a projected earnings growth rate of 11.1% for 2020. It currently flaunts a Zacks Rank #1. The company’s shares have surged 72.9% in a year.
Barrick Gold currently has a Zacks Rank #2 (Buy) and a projected earnings growth rate of 49% for 2020. The company’s shares have rallied 40.7% in a year.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>