Month: October 2019

Research – Aurania Resources (ARU:CA) – Full Speed Ahead

Posted on by Admin

Wednesday, October 23, 2019

Aurania Resources Ltd. (ARU:CA)

Full Speed Ahead

Aurania Resources Ltd. is a Canada-based 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 company also has several minor projects in Switzerland.

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

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

  • Scout drilling at Yawi expected to begin this week.  The current plan is to drill three to four holes between 350 meters and 500 meters in length on each of the four targets at Yawi. Drilling is expected to take between seven and ten days at each target before moving the drill rig between targets which takes about one to three days. Assay results from the first target should be available later in the fourth quarter. Importantly, water permits have been secured for each of the drilling targets at Yawi.
  • LiDAR survey to commence shortly.   VeriDaaS Corporation has received permits necessary to complete a LiDAR (Light Distance and Ranging) survey over the company’s…


    Get full report on Channelchek desktop.


This Company Sponored 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. 

Is Fracking Safe?

Posted on by Admin

Is Fracking Safe?

(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 are listed after the
Balanced section.)

Oil and natural gas production have grown dramatically due to the introduction of horizontal drilling and hydraulic fracking. Fracking is a drilling technique in which water, sand, and chemicals are pumped into well holes under high levels of pressure, fracturing shale formations to increase the flow of hydrocarbons toward the well. Opponents of fracking have made claims that the procedure leads to health and ecological concerns.

Looking for Money Growing on Trees? Try Timber.

Posted on by Admin

Looking for Money Growing on Trees? Try Timber.

(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 are listed after the
Balanced section.)

With growing interest in alternative and “sustainable” investments, forest products may warrant consideration. Commercial timberlands supply all major forest product end-use markets, including sawn wood, pulp and paper products, furniture, and flooring materials. While timberland ownership was consolidated among integrated forest products and paper companies such as Georgia-Pacific and International Paper up until the 1990s, when most began to divest their timberland holdings, ownership has transitioned to timberland investment management organizations that acquire and manage timberlands on behalf of institutional investors. With growing awareness of environmental considerations, many of these new investors have adopted sustainable practices, which include selective harvesting and replantation.

Can Biosimilars Finally Be Successful in the US?

Posted on by Admin

Can Biosimilars Finally Be Successful in the US?

(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 are listed after the Balanced
section.)

 

Biologic drugs (biologics) are therapeutic agents extracted or partially synthesized from biological sources. Biologics include vaccines, monoclonal antibodies, and therapeutic proteins. These products are generally larger and more complex than small-molecule drugs. Biologics are a rapidly growing segment of the pharmaceutical industry. The biologics segment has experienced a dramatic increase in the number of products in the market over the last few decades. The percentage of biologics in total drug approvals increased from 19% in 1998 to 39% in 2017. In 2018, the US Food and Drug Administration (FDA) approved 59 medicines, seventeen (29%) of which are biologic products. At present, the majority (an estimated 70%) of top-selling drugs in the pharmaceutical industry are biologics.

 

Biosimilar products (biosimilars) are defined by their similarity to existing FDA-approved biologics. According to the FDA, a biosimilar is a product that has no clinically meaningful difference when compared to a commercially available biologic or “reference biologic.” Biosimilars can only be commercialized once the patent protection of the reference biologic expires. The biosimilars market is being supported by the FDA, which released the “Biosimilar Action Plan” to improve the efficiency of the approval process for these medicines. FDA has granted 24 biosimilar approvals up to date. As of February 2019, only 7 out of seventeen (41%) approved biosimilars were on the market. Despite the implementation of the “Biosimilar Action Plan,” the support received by FDA regulators has yet to translate into successful commercialization of these products.

 

Exhibit 1. Biosimilars
approved by FDA


Source: www.fda.gov/drugs/biosimilars/biosimilar-product-information

 The most recent drug approval was for Pfenex Inc. (NYSE American: PFNX)’s PF708. PF708 gained approval under the 505(b)(2) regulatory pathway, with Forteo® (teriparatide injection) as the reference drug, for the treatment of osteoporosis in certain patients having a relatively high risk for bone fractures. In 2018, global sales of Eli Lilly’s Forteo were $1.6 billion, which gives an indication of the potential commercial opportunity for PF708.

Research – Seanergy (SHIP) – Positive Impact from Dry Bulk Market Firmness

Posted on by Admin

Thursday October 17, 2019

Seanergy (SHIP)

Positive Impact from Dry Bulk Market Firmness

Seanergy Maritime Holdings Corp., an international shipping company, provides marine dry bulk transportation services through the ownership and operation of dry bulk vessels. Seanergy Maritime Holdings Corp. is the only pure-play Capesize shipping company listed in the US capital markets. Seanergy provides marine dry bulk transportation services through a modern fleet of 10 Capesize vessels, with total capacity of approximately 1,748,581 dwt and an average fleet age of about 9.8 years. The Company is incorporated in the Marshall Islands with executive offices in Athens, Greece and an office in Hong Kong. The Company’s common shares trade on the Nasdaq Capital Market under the symbol “SHIP” and class A warrants under “SHIPW”.

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

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

  • Dry Bulk market firmer in 2H2019 despite continued trade overhang. A rebound in iron ore shipments out of Brazil and the start of dry-docking activity tied to the installation of scrubbers in advance of the upcoming IMO2020 regulations have been positive, especially in the Cape market.
  • Increasing EBITDA estimates to $26.3 million in 2019 (from $19.9 million) and $50.2 million in 2020 (from $39.6 million) due to a positive forward cover update. Latest investor presentation shows 73% of available 3Q2019 days booked at an average rate of…



    Get full report on Channelchek desktop.


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. 

Research – Great Panther Mining Limited (GPL) – GPL Cuts 2019 Production Guidance; Lowering Estimates and Price Target

Posted on by Admin

Thursday October 17, 2019

Great Panther Mining Limited (GPL)

GPL Cuts 2019 Production Guidance; Lowering Estimates and Price Target

Great Panther Mining Limited, headquartered in Vancouver, Canada, is a precious metals mining and exploration company that operates three mines. These include: 1) the Tucano gold mine in Amapa State, Brazil, 2) the Guanajuato mine complex which includes the Guanajuato and San Ignacio mines in Mexico, and 3) the Topia mine in Mexico. Great Panther also owns the Coricancha Mine in Peru, which is expected to restart operations in 2020. The shares are traded under the ticker “GPR” on the Toronto Stock Exchange and under the ticker “GPL” on the NYSE American.

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

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

  • GPL reports third quarter production results. In aggregate, third quarter production increased 270.4% to 47,374 gold equivalent ounces versus the prior year period and increased 18.7% compared to the second quarter of 2019. The significant increase in gold production reflects the acquisition of the Tucano Gold Mine in March 2019.
  • Production guidance lowered. Due to structural issues at one of Tucano’s five open-pit mines in Brazil, management lowered fourth quarter and…



    Get full report on Channelchek desktop.


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. 

Research – Sierra Metals (SMTS) – Third Quarter Production Above Expectations; Raising Estimates

Posted on by Admin

Thursday October 17, 2019

Sierra Metals (SMTS)

Third Quarter Production Above Expectations; Raising Estimates

Sierra Metals Inc is a precious and base metals producer in Latin America. The company acquires, explores, extracts, and produces mineral concentrates consisting of silver, copper, lead, zinc and gold in Mexico and Peru. Its activity includes the operation of the Yauricocha Mine in Peru, and the Bolivar and Cusi mines in Mexico. Yauricocha is an underground polymetallic mine using the sublevel block caving and cut-and-fill mining methods. Bolivar is a copper-silver-zinc-gold underground mine using room-and-pillar mining method. The majority of the revenue is earned by selling of the mineral concentrates to its customers in Peru.

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

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

  • SMTS reports third quarter production results. Compared with the prior year period, third quarter production of gold increased 83.1% to 3,490 ounces, silver increased 34.1% to 976 thousand ounces, lead production increased 65.3% to 10.5 million pounds, copper production increased 33.6% to 11.1 million pounds and zinc production increased 8.2% to 22.5 million pounds.
  • Increasing estimates. We are increasing our 2019 and 2020 EPS estimates to $0.08 and $0.30 from $0.06 and $0.28, respectively. The increase to our 2019 and 2020 estimates reflects…



    Get full report on Channelchek desktop.


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 – Avino Silver & Gold (ASM) – Avino Reports Third Quarter 2019 Production; Dropping Research Coverage

Posted on by Admin

Thursday October 17, 2019

Avino Silver & Gold (ASM)

Avino Reports Third Quarter 2019 Production; Dropping Research Coverage

Avino Silver & Gold Mines Ltd. is engaged in the production and sale of silver, gold and copper bulk concentrate, and operates two mines in Mexico and has a gold project under development in British Columbia. Avino holds mineral claims and leases in Durango, Mexico, and in British Columbia and Yukon, Canada. The company’s shares trade on the NYSE American and Toronto Stock Exchanges under the symbol “ASM”. Avino Silver & Gold Mines Ltd. was founded in 1968 and is headquartered in Vancouver, Canada.

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

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

  • Research coverage dropped. We are discontinuing coverage of Avino Silver & Gold Ltd. in order to reallocate our resources.
  • ASM reported third quarter 2019 production results.  Avino Silver & Gold Mines Ltd. reported third quarter production of 570,220 silver equivalent ounces representing a 19.1% decline versus the prior year period. Compared to the prior year period…



    Get full report on Channelchek desktop.


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. 

Research – DLH Holdings Corp. (DLHC) – Announces Preliminary Results for FY19

Posted on by Admin

Wednesday, October 16, 2019

DLH Holdings Corp. (DLHC)

Announces Preliminary Results for FY19

DLH Holdings Corp is a provider of technology-enabled business process outsourcing and program management solutions in the United States. The company offer services to several government agencies which include the Department of veteran affairs, Department of health and human services, Department of defense and other government agencies. It operates primarily through prime contracts and also derives its revenue from agencies of the federal government, primarily as a prime contractor but also as a subcontractor to other Federal prime contractors.

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

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

  • FY19 Results.  Yesterday, DLH announced preliminary results for FY19 ended September 30th. Revenues are projected to be approximately $159 million, including $24 million from Social and Scientific Systems. This is slightly above our full year revenue estimate of $157.2 million. With 9-month revenue of $106.2 million, this implies 4Q revenue of $52.8 million.
  • S3 Performing Well.   S3 appears to have had a solid 4Q generating revenue of approximately $19.5 million. Management does not comment on…



    Get full report on Channelchek desktop.


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. 

Research – Scorpio Bulkers (SALT) – Dry Bulk Market Firmer, But Fine-Tuning 2H2019 Estimates

Posted on by Admin

Wednesday October 16, 2019

Scorpio Bulkers (SALT)

Dry Bulk Market Firmer, But Fine-Tuning 2H2019 Estimates

Scorpio Bulkers Inc is a shipping company based in Monaco. It owns and operates a fleet of modern mid to large-size dry bulk carriers which provide marine transportation for major bulks, which include iron ore, coal and grain and minor bulks which include bauxite, fertilizers and steel products internationally. In terms of its dead weight tonnage, its vessels are classified as Capesize, Kamsarmax and Ultramax, by the order of highest to lowest capacity, with Kamsarmax accounting for the highest revenue.

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

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

  • Dry Bulk market firmer despite continued trade overhang.   A rebound in iron ore shipments out of Brazil and the start of dry-docking activity tied to the installation of scrubbers in advance of the upcoming IMO2020 regulations have been positive.
  • Lowering 2019 EBITDA estimate to $97.3 million based on TCE rates of $11,237/day, but maintaining 2020 EBITDA estimate of $145.0 million based on TCE rates of $13,821/day. Kamsarmax TCE rate estimate dropped to $12,314/day (down ~$800/day), but Ultramax TCE rates stay at…



    Get full report on Channelchek desktop.


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. 

Research Initiation – Akazoo (SONG) – Getting The Company For A Song

Posted on by Admin

Tuesday October 15, 2019

Akazoo (SONG)

Getting The Company For A Song

Akazoo is a global, on-demand music and audio streaming and media and AI technology company, founded 2010, with a focus on emerging markets and a presence in 25 countries. Akazoo’s premium service provides subscribers with unlimited online and offline high-quality music streaming access to a catalogue of over 45 million songs on an ad-free basis. Akazoo uses patented AI for music recommendations and offers online and offline listening. Akazoo’s free, ad-supported radio service consists of over 80,000 stations and exists as a separate services and application. As consumers across the globe continue to shift their media consumption to mobile devices, Akazoo is equipped with a world-class mobile application and user experience which works seamlessly across a multitude of mobile devices and provides a high-quality user experience across a range of mobile networks from 2g to 4g LTE and soon 5g.

Michael Kupinski, DOR, Senior Research Analyst, Noble Capital Markets, Inc.

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

  • Leading in many emerging markets.  Akazoo is an established player in the music streaming industry and has a leading share in many emerging markets. The differentiation is the company’s hyper-local content, with a patented AI technology and interface that provides the user with a unique, culturally relevant experience.
  • Strong financial position.  Following the merger with Modern Media, the company has roughly $60 million in cash and virtually no debt. This strong financial position should allow the company to…



    Get full report on Channelchek desktop.


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.