On Monday, Shares of Barrick Gold Corporation (NYSE:ABX), lost -5.10% to $6.70, hitting its lowest level.
Barrick Gold Corporation declared that it has reached a contract to sell a 50 percent interest in the Zaldívar copper mine in Chile to Antofagasta Plc (“Antofagasta”) for a total consideration of $1.005 billion in cash, forming a new partnership with one of the world’s leading copper companies.
“The sale of 50 percent of Zaldívar is consistent with our strategy to create long-term value for our shareholders. By selling a stake in this non-core asset, we strengthen our balance sheet while maintaining noteworthy exposure to a strong cash-generating operation,” said Kelvin Dushnisky, Co-President of Barrick. “Following a highly competitive auction process, we are happy to reach a contract with the ideal partner for Zaldívar. Antofagasta has an outstanding track record of building and operating mines in Chile, and we see this as the first step in an ongoing, collaborative partnership. There are many potential opportunities to benefit from Antofagasta’s experience as Barrick evaluates development projects in the future.”
“We are enthusiastic about partnering with Barrick at Zaldívar. Together, we believe that we are well positioned to enhance the long-term value of the Zaldívar operation through our collective best practices,” said Diego Hernandez, CEO of Antofagasta. “We have consistently been impressed with the workforce at Zaldívar, and look forward to partnering with them. We also look forward to exploring other opportunities to collaborate with Barrick in the future.”
Barrick Gold Corporation produces and sells gold and copper. The company is also involved in exploration and mine development activities. It conducts mining, development and exploration, and other activities in various countries, counting the United States, Canada, Australia, Argentina, Chile, Peru, the Dominican Republic, Papua New Guinea, Tanzania, Zambia, and Saudi Arabia.
Shares of Plug Power Inc. (NASDAQ:PLUG), inclined 10.04% to $2.85, during its last trading session.
Plug Power declared it has accomplished the formerly declared acquisition of HyPulsion, the European joint venture created by Plug Power and Axane, S.A., a partner of Air Liquide S.A. in 2012. Effective right away, Plug Power will assume all responsibilities for the development, engineering, sales and marketing efforts in Europe for its GenFuel hydrogen and GenDrive fuel cell product lines and corresponding GenCare services.
Plug Power will offer its CE-certified GenDrive products to European lift truck customers in the $20 billion European electric lift truck market. For the short-term, Plug Power will continue to develop, engineer, and manufacture all products in the United States with a sales and service force in Europe.
Air Liquide will remain a planned hydrogen production partner to Plug Power, acting as a hydrogen supplier to Plug Power’s material handling customers. Additionally, Air Liquide will continue to represent a seat on Plug Power’s board of directors, a position held since 2012.
Plug Power Inc., an alternative energy technology provider, engages in the design, development, manufacture, and commercialization of fuel cell systems for the industrial off-road markets worldwide. It focuses on proton exchange membrane (PEM) fuel cell and fuel processing technologies, and fuel cell/battery hybrid technologies.
Finally, Hilton Worldwide Holdings Inc. (NYSE:HLT), ended its last trade with -1.19% loss, and closed at $26.53.
Hilton Worldwide Holdings’s 2015 earnings estimates was lowered at Credit Suisse to $0.81 from $0.82 per share, with 2016 earnings estimates cut to $0.99 from $1.01 per share.
The firm maintained its “outperform” rating and $34 price target on the stock.
On July 29, Hilton Worldwide Holdings Inc. stated its second quarter 2015 results and raised its full year 2015 outlook.
- EPS, adjusted for special items, for the second quarter was $0.25, a 19 percent enhance from the same period in 2014; without adjustments, EPS was $0.16
- Net income attributable to Hilton stockholders for the second quarter was $161 million
- Adjusted EBITDA for the second quarter raised 15 percent from the same period in 2014 to $777 million, and Adjusted EBITDA margin raised 320 basis points
- System-wide comparable RevPAR raised 5.2 percent for the second quarter on a currency neutral basis from the same period in 2014
- Administration and franchise fees for the second quarter raised 17 percent from the same period in 2014 to $434 million
- Net unit growth was over 11,000 rooms in the second quarter, a 56 percent enhance from the same period in 2014.
Hilton Worldwide Holdings Inc., a hospitality company, owns, leases, manages, develops, and franchises hotels, resorts, and timeshare properties worldwide. The company operates hotels under 12 brand names, counting Hilton Hotels & Resorts, Waldorf Astoria Hotels & Resorts, Conrad Hotels & Resorts, Canopy by Hilton, Curio-A Collection by Hilton, DoubleTree by Hilton, Embassy Suites Hotels, Hilton Garden Inn, Hampton Hotels, Homewood Suites by Hilton, Home2 Suites by Hilton, and Hilton Grand Vacations.
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