We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
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.
AREC Unit Forms JV for Critical Mineral Processing in the Middle East
Read MoreHide Full Article
American Resources Corporation’s (AREC - Free Report) subsidiary, ReElement Technologies Corporation, recently partnered with LVC Global Holdings to announce the launch of the newly formed joint venture (JV), ReElement Middle East. This is aimed at enhancing the processing of critical minerals and strategic metals in that region.
The Saudi Arabian region has an urgent need for localized and sustainable processing capabilities, which is expected to be fulfilled by ReElement Middle East. Cutting-edge refining technologies and advanced capabilities will be employed to reduce reliance on foreign processing, strategically aligning with Saudi Arabia's Vision 2030, which seeks to establish the country as a global hub for critical mineral resources.
As per the International Energy Agency, the global demand for critical minerals is set to quadruple by 2040. More than 75% of the world's critical minerals processing is concentrated in China, which makes the global supply chain vulnerable. Through this strategic alliance, LVC Global Holdings will secure a robust and resilient supply chain in the Middle East.
ReElement Technologies’ aim for sustainable solutions for processing and refining critical minerals to battery, magnet and semiconductor grade will also progress through this partnership.
AREC Stock’s Price Performance
AREC stock has lost 52.5% in the past year compared with the 17.5% decline of the industry.
The Zacks Consensus Estimate for Carpenter Technology’s current-year earnings is pegged at $6.77. CRS beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average earnings surprise being 14.1%. CRS’ shares have soared 190.2% in the past year.
The Zacks Consensus Estimate for MAG Silver’s current-year earnings is pegged at 75 cents per share. MAG surpassed the Zacks Consensus Estimate in each of the trailing four quarters, with an average earnings surprise of 17.1%. The stock has gained 49% in the past year.
The Zacks Consensus Estimate for Fortuna Mining’s current-year earnings is pegged at 53 cents, indicating a year-over-year rise of 140.91%. FSM’s earnings beat the Zacks Consensus Estimate in two of the last four quarters while missing in the other two, with an average earnings surprise of 53.6%. The stock has gained 20% in the past year.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
AREC Unit Forms JV for Critical Mineral Processing in the Middle East
American Resources Corporation’s (AREC - Free Report) subsidiary, ReElement Technologies Corporation, recently partnered with LVC Global Holdings to announce the launch of the newly formed joint venture (JV), ReElement Middle East. This is aimed at enhancing the processing of critical minerals and strategic metals in that region.
The Saudi Arabian region has an urgent need for localized and sustainable processing capabilities, which is expected to be fulfilled by ReElement Middle East. Cutting-edge refining technologies and advanced capabilities will be employed to reduce reliance on foreign processing, strategically aligning with Saudi Arabia's Vision 2030, which seeks to establish the country as a global hub for critical mineral resources.
As per the International Energy Agency, the global demand for critical minerals is set to quadruple by 2040. More than 75% of the world's critical minerals processing is concentrated in China, which makes the global supply chain vulnerable. Through this strategic alliance, LVC Global Holdings will secure a robust and resilient supply chain in the Middle East.
ReElement Technologies’ aim for sustainable solutions for processing and refining critical minerals to battery, magnet and semiconductor grade will also progress through this partnership.
AREC Stock’s Price Performance
AREC stock has lost 52.5% in the past year compared with the 17.5% decline of the industry.
Image Source: Zacks Investment Research
AREC’s Zacks Rank and Key Picks
AREC currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Basic Materials space are Carpenter Technology Corporation (CRS - Free Report) , MAG Silver Corp. (MAG - Free Report) and Fortuna Mining Corp. (FSM - Free Report) . While CRS sports a Zacks Rank #1 (Strong Buy), MAG and FSM carry a Zacks Rank #2 (Buy) each at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Carpenter Technology’s current-year earnings is pegged at $6.77. CRS beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average earnings surprise being 14.1%. CRS’ shares have soared 190.2% in the past year.
The Zacks Consensus Estimate for MAG Silver’s current-year earnings is pegged at 75 cents per share. MAG surpassed the Zacks Consensus Estimate in each of the trailing four quarters, with an average earnings surprise of 17.1%. The stock has gained 49% in the past year.
The Zacks Consensus Estimate for Fortuna Mining’s current-year earnings is pegged at 53 cents, indicating a year-over-year rise of 140.91%. FSM’s earnings beat the Zacks Consensus Estimate in two of the last four quarters while missing in the other two, with an average earnings surprise of 53.6%. The stock has gained 20% in the past year.