ALTM

Lithium Prices Remain Volatile; Albemarle Adjusts Long-term Demand Forecast

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Image: Albemarle’s shares have faced significant pressure as a result of depressed lithium prices. By Brian Nelson, CFA The Financial Times reported February 16 that Albemarle (ALB) had reduced its 2030 demand forecast for lithium due to a reduced pace of electric-vehicle adoption in the U.S. and Europe. According to reports from Seeking Alpha, Albemarle now believes that 3.3 million tons of lithium carbon equivalent [LCE] will be in demand across the globe by the end of this decade, a pace that is meaningfully lower than the 3.7 million tons it had projected previously. Albemarle is also dealing with plunging lithium prices, which have punished its cash flow more recently. We think most of the bad news is priced into … Read more

Apache Comes Up Empty in Suriname, Shares Plummet

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Image Source: Apache Corporation – November 2019 IR Presentation By Callum Turcan On December 2, Apache Corporation (APA) announced that its first exploration well off the coast of Suriname (a small nation in northern South America) was a dud. The Maka Central-1 well was drilled to a total depth of 6,200 meters (~20,300 feet) in Block 58 and drilling activities commenced in late-September. While the well was testing two Upper Cretaceous plays, neither play appeared to have commercial level of hydrocarbons (more information will be provided by management on this issue in the near future) so Apache opted to drill down to a total depth of 6,900 meters (~22,600 feet) to test a third Cretaceous play. This news sent shares … Read more

Dividend Increases/Decreases for the Week December 11

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Below we provide a list of firms that raised their dividends during the week ending December 11. The dividend reports of covered firms on this list will be updated shortly with the new information. To access our dividend reports use the ‘Symbol’ search box in our website header. Firms Raising Their Dividends This Week Abbott Laboratories (ABT): now $0.45 per share quarterly dividend, was $0.36. Abitibi Royalties (ATBYF): now CAD 0.015 per share monthly dividend, was CAD 0.013. AES (AES): now $0.1505 per share quarterly dividend, was $0.1433. Albany (AIN): now $0.20 per share quarterly dividend, was $0.19. Alexandria Real Estate Equities (ARE): now $1.09 per share quarterly dividend, was $1.06. Alico (ALCO): now $0.18 per share quarterly dividend, was … Read more