Monty Rakusen/DigitalVision via Getty Images London-listed miner Anglo American ( AAUKF ) ( NGLOY ) reported a $2.3 billion pre-tax impairment on its De Beers Group in its 2025 results on Friday, reflecting ongoing challenges in the diamond market. Weak demand from China and competition from lab-grown diamonds contributed to a total net loss of $3.7 billion for the group, the company said in a sta...
Monty Rakusen/DigitalVision via Getty Images London-listed miner Anglo American ( AAUKF ) ( NGLOY ) reported a $2.3 billion pre-tax impairment on its De Beers Group in its 2025 results on Friday, reflecting ongoing challenges in the diamond market. Weak demand from China and competition from lab-grown diamonds contributed to a total net loss of $3.7 billion for the group, the company said in a statement . De Beers in a separate statement said rough diamond trading conditions remained challenging throughout 2025 amid persistent industry, geopolitical, and tariff uncertainty. "While demand for larger, higher-quality diamonds strengthened through the year, demand for smaller and lower-quality diamonds experienced pressure in light of the growing supply from other producers." The company also noted that polished wholesale diamond prices showed early signs of stabilization in 2026, but sentiment declined sharply after the U.S. imposed tariffs on Indian exports. India continues to be the primary cutting center for natural diamonds, while the U.S. remains the largest market for diamond jewelry, it said . Anglo, which last year discontinued nickel and steelmaking coal assets that it is seeking to sell, aims to focus on copper and iron ore assets. It demerged its platinum business in May and said it is moving forward with plans to sell De Beers. The miner has reviewed the value of De Beers after the diamonds unit recorded a third consecutive annual drop in production last year. More on Anglo American plc Anglo American: Copper Re-Rating Thesis Gathers Momentum Mountain Province, De Beers pause Gahcho Kué mine expansion De Beers likely to be sold to public-private consortium, Anglo American CEO tells FT Seeking Alpha’s Quant Rating on Anglo American plc Historical earnings data for Anglo American plc
(RTTNews) - Asian markets ended mostly lower on Friday, though South Korean equity benchmark rose to a record amid expectations that upcoming investor-friendly measures will boost shareholder returns and lift market valuations.
(RTTNews) - Asian markets ended mostly lower on Friday, though South Korean equity benchmark rose to a record amid expectations that upcoming investor-friendly measures will boost shareholder returns and lift market valuations.
Umicore press release ( UMICF ): FY Non-GAAP EPS of €1.20. Revenue of €3.56B (+2.9% Y/Y). Adjusted EBITDA of € 847 million and Adjusted EBITDA margin of 24.0%. ROCE of 15.7%. Total recordable injury rate for own employees of 4.5 per 1 million exposure hours. Cash flow from operations of € 849 million and Free Operating Cash Flow of € 524 million. Net Debt at € 1.4 billion, corresponding to a Net D...
Umicore press release ( UMICF ): FY Non-GAAP EPS of €1.20. Revenue of €3.56B (+2.9% Y/Y). Adjusted EBITDA of € 847 million and Adjusted EBITDA margin of 24.0%. ROCE of 15.7%. Total recordable injury rate for own employees of 4.5 per 1 million exposure hours. Cash flow from operations of € 849 million and Free Operating Cash Flow of € 524 million. Net Debt at € 1.4 billion, corresponding to a Net Debt/LTM Adj EBITDA ratio of 1.60x. Proposed gross annual dividend for 2025 of € 0.50 per share, to be paid out in May 2026. More on Umicore SA Seeking Alpha’s Quant Rating on Umicore SA Historical earnings data for Umicore SA Financial information for Umicore SA
Anna Edwards, Guy Johnson, Tom Mackenzie and Mark Cudmore break down today's key themes for analysts and investors on "Bloomberg: The Opening Trade." (Source: Bloomberg)
Anna Edwards, Guy Johnson, Tom Mackenzie and Mark Cudmore break down today's key themes for analysts and investors on "Bloomberg: The Opening Trade." (Source: Bloomberg)
Bela Art/iStock Editorial via Getty Images Introduction & Key Takeaway We previously published an article on Starbucks Corporation ( SBUX ) in May 2024. At that time, we used Greenblatt’s Magic Formula* lens to evaluate the stock and issued a buy recommendation. A core tenet of the Magic Formula framework is to purchase the stock if the business is earning high returns on tangible assets and also ...
Bela Art/iStock Editorial via Getty Images Introduction & Key Takeaway We previously published an article on Starbucks Corporation ( SBUX ) in May 2024. At that time, we used Greenblatt’s Magic Formula* lens to evaluate the stock and issued a buy recommendation. A core tenet of the Magic Formula framework is to purchase the stock if the business is earning high returns on tangible assets and also valued at a reasonable earnings yield as measured by the operating income relative to the enterprise value. Another principle of the methodology is to redeploy the capital if there is sufficient appreciation and/or if the earnings yield no longer offers a sufficient margin of safety. Please see Tables 1 and 2. Table 1: Return on Tangible Assets ($ in millions) 2023 2025 Adjusted Operating Income 5779.5 2936.6 Tangible Assets 8162.95 9990.75 Adjusted Operating Income Return on Tangible Assets 70.80% 29.39% Click to enlarge Table 2: Earnings Yield (EBIT/EV) May-24 Current SBUX 5Y Avg EBIT/EV (FWD) 5.27% 3.00% 3.91% Click to enlarge Source: The Little Book That Still Beats the Market by Joel Greenblatt. Copyright 2010 and published by John Wiley & Sons, Inc., Starbucks 10-K for 2023 and 2025, Seeking Alpha There has been a marked deterioration in the return on tangible assets and a corresponding increase in valuation (resulting in a lower earnings yield), which is what prompted us to revisit our thesis. The current earnings yield is lower than the 5-year average and significantly lower than the time the previous article was written. In this article, we review the operating performance of Starbucks using a different framework. While we do rely on and use the Magic Formula framework in our investing activities, we also like to use different frameworks from time to time because they illuminate different aspects of the company and the valuation process. Using different frameworks also has the benefit of stress testing our investment thesis. When two or more frameworks point to the...
arsenisspyros/iStock via Getty Images The HCOB Flash Germany Composite PMI Output Index register 53.1, up from 52.1 in January and the highest reading since last October. Flash Germany Services PMI Business Activity Index at 53.4, from January's 52.4, 4-month high. And Germany Manufacturing PMI Output Index at 52.3, from last month's 51.4, 4-month high. “Hurray, German industry is growing again. F...
arsenisspyros/iStock via Getty Images The HCOB Flash Germany Composite PMI Output Index register 53.1, up from 52.1 in January and the highest reading since last October. Flash Germany Services PMI Business Activity Index at 53.4, from January's 52.4, 4-month high. And Germany Manufacturing PMI Output Index at 52.3, from last month's 51.4, 4-month high. “Hurray, German industry is growing again. For the first time in more than three-and-a-half years, the headline manufacturing PMI is back in expansionary territory. This confirms the tentative signs of an economic turnaround that were particularly evident in January. It is particularly encouraging that new orders have risen robustly, suggesting that production growth will continue in the coming months. This view is supported by order backlogs, which have risen for the first time since mid-2022, albeit only moderately. Higher new orders from abroad, which have risen again after six months of decline, have also helped here. We expect the government's infrastructure program and higher military spending to provide increasing tailwinds for industry," said Dr. Cyrus de la Rubia, Chief Economist at Hamburg Commercial Bank. More on Germany Trump's Tariffs Are Sinking The Eurozone EWG: Germany Stocks Lag As Europe Leads European indexes retreat after touching record levels European markets rise over improved market sentiment Seeking Alpha’s Quant Rating on iShares MSCI Germany ETF
Energy Transfer LP (NYSE:ET) is among the Best Affordable Stocks Under $40 to Buy. Energy Transfer LP (NYSE:ET) released fiscal Q4 2025 earnings on February 17. The company topped revenue estimates by $1.28 billion, but the EPS fell short by $0.11. Revenue for the quarter grew 29.57% year-over-year to reach $25.32 billion, while the EPS […]
Energy Transfer LP (NYSE:ET) is among the Best Affordable Stocks Under $40 to Buy. Energy Transfer LP (NYSE:ET) released fiscal Q4 2025 earnings on February 17. The company topped revenue estimates by $1.28 billion, but the EPS fell short by $0.11. Revenue for the quarter grew 29.57% year-over-year to reach $25.32 billion, while the EPS […]
Mozambique is navigating a fiscal crisis and has built up debt-servicing arrears with a raft of bilateral and multilateral lenders, the International Monetary Fund said, painting a bleak picture of the southeast African nation’s battered economy. Accessing a financial lifeline from the IMF requested last year will require implementing critical reforms that the government has failed to do over the ...
Mozambique is navigating a fiscal crisis and has built up debt-servicing arrears with a raft of bilateral and multilateral lenders, the International Monetary Fund said, painting a bleak picture of the southeast African nation’s battered economy. Accessing a financial lifeline from the IMF requested last year will require implementing critical reforms that the government has failed to do over the past two years, the Washington-based lender said in an annual health check of Mozambique’s economy, known as an Article IV. The report, published late Thursday, suggests the government is far from reaching a deal for a new bailout. The fund has limits to lending to nations in official arrears to bilateral and multilateral lenders. It also said Mozambique’s debt was now unsustainable, downgrading its outlook from 2024. “Under existing policies, chronic fiscal deficits and reliance on costly domestic debt, combined with weaker economic growth, result in an unsustainable debt path,” the IMF said. “Overall public debt is in debt distress, due to persistent debt-service arrears, while external debt is assessed at high risk of debt distress.” Mozambique’s economy has struggled to recover since it was scuttled in the so-called Tuna Bond scandal that exploded into view a decade ago and led to a default on its debt. The country abandoned an existing IMF program last year, with President Daniel Chapo opting to pursue talks on a new one after taking office in January 2025. His election victory was tainted by allegations of vote rigging and post-election protests in which hundreds of demonstrators were killed in clashes with security forces, according to local human rights observers. Mozambique Signals End of Record Rate-Cutting Streak Is Near Mozambique Eyes Debt Talks After New IMF Program; Eurobond Slips IMF Works Toward New Mozambique Deal Amid ‘Immense Pressures’ The unrest lasted months, compounding Mozambique’s existing economic troubles. While protests have subsided, the social...
quantic69/iStock via Getty Images The last time I spoke about Coherus Oncology ( CHRS ) it was with respect to a Seeking Alpha article entitled " Coherus: Biosimilar And Immuno-Oncology Pipeline Setup Could Pay Off ". With respect to this article, I noted that the company was gearing up to receive FDA approval of its anti-PD-1 monoclonal antibody LOQTORZI [toripalimab] for the treatment of patient...
quantic69/iStock via Getty Images The last time I spoke about Coherus Oncology ( CHRS ) it was with respect to a Seeking Alpha article entitled " Coherus: Biosimilar And Immuno-Oncology Pipeline Setup Could Pay Off ". With respect to this article, I noted that the company was gearing up to receive FDA approval of its anti-PD-1 monoclonal antibody LOQTORZI [toripalimab] for the treatment of patients with nasopharyngeal carcinoma. I'm happy to state that the company did indeed end up receiving approval to target both 1st-line and 2nd-line nasopharyngeal carcinoma patients. Sales of LOQTORZI have been okay, but not as good as they should be to make a difference in boosting the stock price. The company has shifted its focus towards the development of its anti-CCR8 antibody CHS-114 [tagmokitug] for several types of cancers and then the IL-27 antagonist monoclonal antibody casdozokitug for the treatment of patients with 1st-line hepatocellular carcinoma [HCC]. What I want to highlight specifically below would be the development of CHS-114 in combination with LOQTORZI for the treatment of patients with 2nd-line head and neck squamous cell carcinoma [HNSCC] being explored in a phase 1b study. Initial data from this study targeting this pool of patients is expected in mid-206. The truth is that there are multiple shots on goal for this company during this year. Other readouts expected from the development of CHS-114 would be the ongoing phase 1b study in 1st-line/2nd-line esophageal squamous cell carcinoma [ESCC] patients in mid-2026 and then another phase 1b/2a study of CHS-114 targeting fourth-line colorectal cancer [CRC] patients expected in the 2nd half of 2026. That was just on the basis of CHS-114, as the IL-27 antagonist candidate casdozokitug is being evaluated in a randomized phase 2 study targeting patients with 1st-line HCC. The point of bringing this candidate up is that data from this mid-stage trial is expected to be released in mid-2026. I had a "Strong Buy" r...