AXMIN Inc (TSXV: AXM)
AXMIN Inc. (TSXV:AXM) is a Canadian-based exploration and development company with a strong focus on central and West Africa.
When selecting mining stocks, investors may consider Teck Resources (TECK) and First Quantum Minerals (FM). Referring to recent performance, financial health, and future prospects can help you make informed decisions.
In terms of earnings, Teck Resources released its Q3 2024 earnings report on October 24, 2024, reporting an adjusted earnings per share of CAD 0.60, surpassing analysts’ expectations of CAD 0.37. Additionally, the company completed the transfer of a 77% stake in its steelmaking coal unit to Glencore.
First Quantum Minerals released its Q3 2024 earnings report on October 22, 2024, reporting a net profit attributable to shareholders of USD 108 million, or USD 0.13 per share. This performance marks a significant improvement compared to previous quarters. However, the company faces operational challenges, with the Kansanshi copper mine in Zambia temporarily shut down due to a fatal incident.
Regarding financial health, as of September 30, 2024, Teck Resources has a market capitalization of approximately USD 31.5 billion, reporting total cash holdings of USD 7.2 billion and total liabilities of CAD 9.4 billion, with a debt-to-equity ratio of 36.3%.
First Quantum Minerals has a market capitalization of USD 15.6 billion, cash holdings of USD 783 million, total liabilities of USD 7.9 billion, and a high debt-to-equity ratio of 67.4%.
In terms of future prospects, Teck Resources is strategically evolving towards becoming a leader in energy transition metals, capitalizing on the growing demand for key materials like copper in renewable energy technologies. Successfully divesting its coal assets allows Teck to focus on expanding copper production, aligning with global sustainability trends.
First Quantum Minerals is also expected to benefit from increasing copper demand, with significant operations and ongoing projects in Zambia contributing to output growth. However, the company is facing challenges, including operational disruptions and high debt levels.
As always, it is advisable to conduct thorough research and consider your investment goals and risk tolerance before making decisions.
