Month: September 2019

Will New 2020 Climate Change Policies Affect the Market?

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Will New 2020 Climate Change Policies Affect the Market?

(Note: companies that could be impacted by the content of this article are listed at the base of the story (desktop version). This article uses third-party references to provide a bullish, bearish and balanced point of view; sources listed in the “Balanced” section)

In 2015, more than 190 countries adopted the first accord that asked all countries to join in on the battle against climate change. The long-term objective was to make sure global warming stayed well below 2 degrees Celsius and to lower overall greenhouse gas emissions. To achieve these goals, the countries agreed to set national targets every five years and more than 180 countries have already submitted theirs for the first cycle of 2020.

Boeing 737 MAX: What’s Taking So Long?

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Boeing 737 MAX: What’s Taking So Long?

(Note: companies that could be impacted by the content of this article are listed at the base of the story (desktop version). This article uses third-party references to provide a bullish, bearish and balanced point of view; sources listed in the “Balanced” section)

Boeing’s troubles began on October 29, 2018, when Lion Air Flight 610 experienced problems shortly after takeoff, struggled to ascend at a stable speed, and then crashed, killing all 189 passengers. Then on March 10th, while the investigation into the Lion Air crash was still underway, Ethiopian Airlines Flight 302 experienced disturbingly similar issues leading it to crash shortly after takeoff, killing all 157 people on board. In both instances, the pilots were flying a brand-new Boeing 737 MAX.

The 737 MAX was the fastest-selling airplane in Boeing (BA) history with about 5,000 orders from more than 100 customers worldwide. The model has completed thousands of successful flights and was widely considered by industry experts to be a safe aircraft. Nevertheless, following the crash of Flight 302, the US Federal Aviation Administration (FAA) moved to temporarily ground the entire global fleet of Boeing 737 MAX aircrafts.

Now, about a year after the first crash, half a year after its “temporary” grounding, and after thousands of canceled flights, the plane has yet to return to the skies. Originally, the company had hoped the aircraft model could return to service as soon as April. However, concerns regarding not only the plane itself, but also Boeing’s and the FAA’s approval processes has delayed the 737 MAX’s return to service. Currently, an international panel of air-safety regulators is finishing a report that is expected to criticize the FAA’s certification process. International regulators speculate that the FAA’s delegation of the assessment of certain flight-control features to Boeing and inadequate data sharing with foreign authorities during its certification likely contributed to the tragic events. Varying opinions on technical and procedural standards between international agencies has now spiraled into political and diplomatic clashes. The seemingly endless number of obstacles to the re-certification of the aircraft inspires the question, “Will the 737 MAX ever return to the sky?”

Cut to the Chase: The Reality of Rate Cuts

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Cut to the Chase: The Reality of Rate Cuts

(Note: companies that could be impacted by the content of this article are listed at the base of the story (desktop version). This article uses third-party references to provide a bullish, bearish and balanced point of view; sources listed in the “Balanced” section)

The Federal Reserve cut its benchmark lending rate by a quarter point at the end of the Federal Open Market Committee meeting on Wednesday, which is the second rate cut in the last decade, following their last quarter-point cut on July 31 this year. Investors may now be searching for clues about the Fed’s future plans given Wednesday’s announcements.

Research – Scorpio Bulkers (SALT) – Will Dry Bulk Market Remain Firm?

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Tuesday, September 24, 2019

Scorpio Bulkers (SALT)

Asset Sales Enhance Liquidity. Will Dry Bulk Market Remain Firm?

Scorpio Bulkers (SALT) owns/operates a fleet of 56 dry bulk vessels, including 37 Ultramax and 19 Kamsarmax dry bulk vessels. The Ultramax and Kamsarmax sectors are the upper end of the range for the Handymax sector, and the sector is characterized by onboard cranes to allow the loading/unloading of cargo. SALT moves both major and minor bulk around the world. SALT actively markets and manages the fleet internally (both commercial and technical) and also charters in dry bulk vessels to expand operating leverage.

Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to full report for price target, fundamental analysis and rating.

  • Asset sales and recent financings boost liquidity and enhance financial flexibility.  Agreement reached to sell two Ultramaxes for $37.9 million in early 4Q2019. Liquidity should improve by $16.0 million after debt repayment.
  • Dry Bulk market improving despite continued trade overhang.   Despite the continued overhang of global trade tensions and sluggish global economic growth, the dry bulk market has been stronger than expected in 3Q2019…



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This Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst
certification and important disclosures included in full report. 
NOTE: investment decisions should not be based upon the content of
this research summary.  Proper due diligence is required before
making any investment decision. 

Silver Still has a Place on the Winners’ Podium

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Silver Still has a Place on the Winners’ Podium

(Note: companies that could be impacted by the content of this article are listed at the base of the story (desktop version). This article uses third-party references to provide a bullish, bearish and balanced point of view; sources listed in the “Balanced” section)

While gold often is top of mind for precious metals investors, silver is unique in that it is sought for its properties as a store of value or haven during uncertain times and for its many industrial applications, including solar panels. In 2018, physical demand amounted to 1,033.5 million ounces and key sources included industrial fabrication (56%), jewelry (20.6%), coins and bars (17.5%), and silverware (5.9%). By way of comparison, physical gold demand for jewelry and investment and from central banks accounted for 51.0%, 26.5% and 14.9%, with the remainder used for electronics, dentistry, and other industrial applications. For investors looking for a precious metal alternative to gold, what are the pros and cons of diversifying an investment portfolio with silver?

Research – Kratos (KTOS) – Momentum in Unmanned Systems

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Monday, September 3, 2019

Kratos Defense & Security (KTOS)

Unmanned Momentum Continues with Recent $35 Million Award

Kratos Defense & Security Solutions is a National Security technology provider with proprietary expertise in the area of unmanned aerial vehicles, electronics for missile defense systems, electronic warfare systems, satellite control and management systems and support services for emerging naval weapon systems. Commercial and state and local government revenues are about 25% of the total and comprise primarily of critical infrastructure monitoring and protection systems.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to full report for price target, fundamental analysis and rating.

  • Unmanned Systems Momentum Continuing.  On September 19th, Kratos reported a $35 million award from the U.S. Air Force for Air Force Subscale Aerial Target peculiar spares. The firm-fixed-price contract is expected to be completed by March 30, 2024. Combined with other recent awards for unmanned systems, we continue to see momentum building for this segment and believe the unmanned business will be a substantial value driver for the Company going forward.
  • Follows Recent Additional Awards.   hursday’s announcement comes on the heels of two other unmanned awards, including a $23 million award in early August for a production run of target jet drones and a $4.8 million award in mid-August for…



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*Analyst
certification and important disclosures included in full report. 
NOTE: investment decisions should not be based upon the content of
this research summary.  Proper due diligence is required before
making any investment decision. 

Research – Aurania Resources (ARU.V) – Closed Private Placement

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Monday, September 23, 2019

Aurania Resources (ARU:CA)

Aurania Closes Successful Equity Financing

Aurania Resources Ltd. is a junior mining exploration company engaged in the identification, evaluation, acquisition, and exploration of mineral property interests, with a focus on precious metals and copper. Its flagship asset, The Lost Cities – Cutucu Project, is in southeastern Ecuador in the Province of Morona-Santiago. The project includes 42 mineral exploration concessions encompassing an area of approximately 208,000 hectares, or 2,080 square kilometers. The company’s common shares are traded on the TSX Venture Exchange under the symbol “ARU”, the OTCQB Venture Market under the symbol “AUIAF” and on the Frankfurt Exchange under the symbol “20Q”.

Mark Reichman, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to full report for price target, fundamental analysis and rating.

  • Private placement of equity closed.  Aurania announced the closure of its private placement and receipt of C$4,460,062 in gross proceeds. The funds will be used to advance work at the Lost Cities project, including analysis of data sets, initial drilling of gold targets, advancing copper targets and to fund general working capital needs. Because the offering was anticipated, we are making no changes to our 2019 or 2020 EPS estimates.
  • Financing completed in two tranches.   In July, Aurania announced a $4 million private placement of up to 1,481,481 units at C$2.70 per unit. The offering included…



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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst
certification and important disclosures included in full report. 
NOTE: investment decisions should not be based upon the content of
this research summary.  Proper due diligence is required before
making any investment decision. 

Research – Endeavor Silver (EXK) – Rating Upgrade

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Monday, September 23, 2019

Endeavor Silver (EXK)

Upgrading to Outperform Based on Improving Outlook

Endeavour Silver Corporation, headquartered in Vancouver, BC, is a mid-tier precious metals mining company with four underground, silver-gold mines in Mexico. The shares trade on the New York Stock Exchange under the ticker “EXK” and on the Toronto Stock Exchange under the ticker “EDR.”

Mark Reichman, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to full report for price target, fundamental analysis and rating.

  • Upgrading to Outperform.  We are upgrading our investment rating on the shares of Endeavour Silver to Outperform from Market Perform. In our opinion, the company is poised for improved performance during the second half of 2019 and 2020 based on greater production, higher metals prices and lower production costs.
  • Updating estimates.   While our 2019 estimates are unchanged, we are increasing our 2020 EPS estimate to…



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*Analyst
certification and important disclosures included in full report. 
NOTE: investment decisions should not be based upon the content of
this research summary.  Proper due diligence is required before
making any investment decision. 

Noble Capital Markets Supports Bahamas Relief Fund Through its NobleCon Investor Conference

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Noble Capital Markets Supports Bahamas Relief Fund Through its NobleCon Investor Conference

BOCA RATON, Fla., Sept. 23, 2019 (GLOBE NEWSWIRE) — via NetworkWire — Noble Capital Markets announced today that it will donate $500 to the Official Hurricane Dorian Relief Effort for every company that registers for its sixteenth annual NobleCon small & microcap investor conference from today through October 31, 2019. Furthermore, additional donations of $100 will be made for each investor registration.

NobleCon16 will be held at the new flagship Hard Rock Hotel & Casino located just west of the Fort Lauderdale International Airport, February 16-18, 2020. The Noble Capital Markets Conference will feature 125 public company executive teams selected from the more than 6,000 small & microcap companies listed on Channelchek.com, and will be presenting to the investment community comprised of institutions, investment advisors, independent brokers, self-directed investors, family offices and high-net-worth individuals.

Noble Capital Markets’ head office is located in eastern Boca Raton, Florida, and was once in the direct path of Hurricane Dorian until the storm shifted to the north.

“Because of where we are located, we are acutely aware of the power and devastating impact of a Cat-5 hurricane,” said Mark Pinvidic, Noble Capital Markets’ Managing Partner. “Even so, it’s unimaginable what has happened to the people of these beautiful islands and what it’s going to take to rebuild.”

The early estimate is that Dorian could cost the Bahamas $7 billion in insured and uninsured losses, some two and a half times the cost of the damage the storm caused in the United States.

“This is the sixteenth year of NobleCon, so we’ve got enough history to know we’ll easily reach our maximum number of presenting companies. We’re encouraging companies and investors that are considering registration to do so now, allowing us to further support the relief efforts immediately and to help fill the urgent need of supplies for the Bahamian people,” added Pinvidic.

The conference runs four presentation tracks simultaneously in half-hour intervals for two days, allowing for a maximum of 125 companies presenting. The balance of the schedule is made up of one-on-one meetings with investors, industry panel presentations, keynote addresses and large-scale networking events. Total attendance of 800 is expected.

About Channelchek.com
Channelchek, a new investment community dedicated exclusively to small & microcap companies and their industries, is tailored to fit the needs of self-directed investors and financial professionals. Launched by Noble Capital Markets parent company in November 2018, Channelchek is the first service to offer institutional-quality research to the public for FREE at every level without a subscription. More than 6,000 small & microcap companies (market caps <$1billion) are listed on the website, with growing content including advanced market data, webcasts, podcasts and balanced news. Channelchek is the small & microcap dataplace.

For more information, visit https://www.channelchek.com

About Noble Capital Markets
Celebrating its thirty-fifth year in business, Noble Capital Markets is a S.E.C. registered and FINRA licensed broker/dealer, dedicated exclusively to serving underfollowed small & microcap companies, through investment banking, market making and equity research activities. Key sectors include technology, media, transportation & logistics and natural resources.

For more information, visit https://www.noblecapitalmarkets.com

Contacts:
General NobleCon Information: https://www.channelchek.com/noble-con
NobleCon Registration: https://www.nobleconference.com/sixteen#register
To Donate to the Bahamas Relief Fund: https://www.bahamas.com/relief

Corporate Communications:
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www.NetworkNewsWire.com
212.418.1217 Office
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Is the US Accelerating toward Becoming the World’s Energy Capital?

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Is the US Accelerating toward Becoming the World’s Energy Capital?

(Note: companies that could be impacted by the content of this article are listed at the base of the story (desktop version). This article uses third-party references to provide a bullish, bearish and balanced point of view; sources listed in the “Balanced” section)

Production of oil and natural gas in the United States is growing at a rapid pace due to technological advances. As a result, the US is approaching a position of becoming a net exporter of energy for the first time since the Fifties. Most energy exports out of the US will originate in the Gulf of Mexico as new pipelines move oil and gas from the Permian Basin (West Texas and New Mexico) to refineries in the Gulf. This new supply has the potential to make the Gulf of Mexico the largest exporting hub in the world within the next few years. Could this mean that the United States is becoming the new energy capital of the world?

Can Smallcap Funds Help Cap Index Overlap in Your Portfolio?

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Can Smallcap Funds Help Cap Index Overlap in Your Portfolio?

(Note: companies that could be impacted by the content of this article are listed at the base of the story (desktop version). This article uses third-party references to provide a bullish, bearish and balanced point of view; sources listed in the “Balanced” section)

Fund Overlap arises when an investor owns two or more mutual funds that invest in similar parts of the market. Indexes will normally hold a high percentage of the top-performing companies in their particular sector, so by holding two similar funds, an investor is bound to have some sort of overlap. This overlap reduces the benefit of diversification and increases your exposures. The simplest way to detect and avoid overlap is to look at your investment categories and consistently check, as funds may deviate from their original style.

Investing in Cannabis: Should You Go Green?

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Investing in Cannabis: Should You Go Green?

In 2012, Colorado and Washington were the first states to approve the recreational use of marijuana. Since then, cannabis has been legalized recreationally in eleven states and medically in thirty. About a year ago, Canada became the largest country to legalize cannabis completely. Colorado has now generated more than $1 billion in state revenue since 2014, with almost $7 billion in total sales.

Research – Orion (ORN) Construction Awards Bolster Outlook

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Thursday September 19, 2019

Orion Group Holdings (ORN)

Added Construction Awards Bolster Robust Outlook

Orion Group Holdings, based in Houston, Texas, is a specialty construction company within the Marine and Industrial Construction sectors, with operations focused in the continental United States and Caribbean. Revenue is split roughly 50/50 between a Marine Construction segment that provides marine facility, pipeline and structural construction services and a Commercial Concrete segment that provides turnkey concrete services in the light commercial and structural construction markets.

Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to full report for price target, fundamental analysis and rating.

  • Three added construction awards are positive.   Two light commercial projects in Houston totaling $22 million will begin in 3Q2019 and run about eight months. Another $7 million structural project in Dallas/Fort Worth will also begin in 3Q2019 and run about 11 months.
  • Added awards on the horizon, including a large project in Cayman Islands.  About $1.3 billion of bids remain outstanding so additional awards, including a…



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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst
certification and important disclosures included in full report. 
NOTE: investment decisions should not be based upon the content of
this research summary.  Proper due diligence is required before
making any investment decision.