Benzinga - by Austin DeNoce, Benzinga Staff Writer.
Top Stories for Jan. 17, 2024:
1. BMO Capital analyst Jackie Przybylowski maintained an Outperform rating on Newmont Corporation (NYSE: NEM) but lowered her price target from $62 to $59.
2. Compass Minerals (NYSE: CMP) appointed Edward Dowling to succeed Kevin Crutchfield as president and CEO, effective Jan. 18.
Dowling was a former petty officer in the U.S. Navy with a Bachelor of Science in mining engineering and mineral processing, a Master of Science in mineral processing and a Doctorate in mineral processing.
“I am honored and excited by the opportunity to lead Compass Minerals,” Dowling said. “I look forward to the continued shared efforts of our board and leadership team as we work tirelessly to enhance the profitability of our essential minerals portfolio through safe, efficient and fiscally disciplined operations.”
3. Universal Stainless & Alloy Products, Inc. (NASDAQ: USAP) announced that it will provide a business update in a conference call scheduled for Jan. 24 at 10 a.m. EST.
President and Chief Executive Officer Christopher M. Zimmer said, “We look forward to providing a review and update on our markets and sharing certain financial metrics on January 24, in advance of our earnings report in March.”
4. A new report from the Rosario Stock Exchange (RSE) predicts lithium production in Argentina will grow six times more than in Chile and three times more than in Australia by 2027.
"In a context where lithium production is expected to grow 8% annually in Chile and 16% in Australia by 2027, the average annual increase in Argentina aims to be 50%...[Argentina’s] wealth in lithium reserves and resources, as well as its commitment to sustainable production, make it a crucial player in the global market for batteries," the report reads. "Furthermore, the mining sector as a whole is contributing significantly to economic growth and employment in Argentina."
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