Steel Dynamics, Inc. (STLD) has announced its earnings guidance for the third quarter of 2024, projecting earnings per share in the range of $1.94 to $1.98. This represents a decline from the company’s second-quarter earnings and third-quarter 2023 results. The decline is primarily attributed to reduced pricing in the flat rolled steel operations.
Following recent pressure on North American steel companies, JPMorgan sees a potential shift with improved interest rates and a stable political landscape ahead. The firm upgraded ratings for Nucor, Steel Dynamics, and US Steel, citing attractive valuations and potential for growth. While challenges remain in the market, JPMorgan highlights the positive outlook for certain companies and offers insights into their investment opportunities.
The mining industry witnessed several significant developments on April 24, 2024. American Battery Technology (ABAT) refined its assessment for the Tonopah Flats Lithium Project (TFLP), resulting in improved economics and optimized processing. Steel Dynamics (STLD) reported strong first-quarter results, driven by solid demand in the automotive and construction sectors. Gold Royalty Corp (GROY) and Taurus Mining Royalty Fund entered into a collaboration agreement for co-investing in precious metals royalties and streams, focusing on assets valued over $30 million. Coeur Mining Inc (CDE) released its 2023 ESG Report, showcasing its achievements in environmental, social, and governance initiatives. These updates reflect the industry’s commitment to sustainability, innovation, and shareholder value.
