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Home » Business & Finance » U.S. Stocks Losing Streaks In The Spotlight - Thompson Creek Metals Company, (NYSE:TC), Galena Biopharma, (NASDAQ:GALE), Bill Barrett, (NYSE:BBG), Stillwater Mining, (NYSE:SWC)
U.S. Stocks Losing Streaks In The Spotlight – Thompson Creek Metals Company, (NYSE:TC), Galena Biopharma, (NASDAQ:GALE), Bill Barrett, (NYSE:BBG), Stillwater Mining, (NYSE:SWC)

U.S. Stocks Losing Streaks In The Spotlight - Thompson Creek Metals Company, (NYSE:TC), Galena Biopharma, (NASDAQ:GALE), Bill Barrett, (NYSE:BBG), Stillwater Mining, (NYSE:SWC)

March 9, 2015 12:50 pm by: Category: Business & Finance Leave a comment A+ / A-

Following U.S. Stocks were among the “Top Losers” during Friday’s trade: Thompson Creek Metals Company Inc (USA) (NYSE:TC), Galena Biopharma Inc (NASDAQ:GALE), Bill Barrett Corporation (NYSE:BBG), Stillwater Mining Company (NYSE:SWC)

Their insights are depicted underneath:

Thompson Creek Metals Company Inc (USA) (NYSE:TC)’s shares dwindled -6.11%, and closed at $1.23.

According to PRNewswire, on February 19, Thompson Creek Metals Corporation Inc. (TC), a North American mining corporation, declared financial results for the three months and year ended December 31, 2014, prepared in accordance with United States generally accepted accounting principles (“US GAAP”). All dollar amounts are in United States (“US”) dollars unless otherwise indicated.

Highlights for 2014:

  • Net loss for 2014 was $124.2 million, or $0.64 per share contrast to a net loss of $215.0 million, or $1.26 per share for 2013. The net loss for 2014 and 2013 comprised of non-cash foreign exchange losses of $99.8 million and $70.8 million, respectively, primarily on intercorporation notes.
  • Non-GAAP adjusted net revenue per pound of copper produced for 2014 was $54.6 million, or $0.25 per diluted share contrast to a non-GAAP adjusted net loss for 2013 of $5.0 million, or $0.03 per share. Non-GAAP adjusted net revenue (loss) excludes the non-cash influence of asset impairment losses and foreign exchange losses, net of the related tax influences. See “Non-GAAP Financial Measures” for the definition and reconciliation of non-GAAP adjusted net revenue (loss).
  • Payable production at Mount Milligan Mine for 2014 was 64.6 million pounds of copper and 177,606 ounces of gold, contrast to 2013 payable production of 10.4 million pounds of copper and 19,879 ounces of gold.
  • Non-GAAP unit cash cost per pound of copper produced for 2014 was, on a by-product basis, $1.15 per pound, and, on a co-product basis, $1.97 per pound of copper and $525 per ounce of gold. Non-GAAP unit cash costs in 2013 were, on a by-product basis, $7.76 per pound, and on a co-product basis, $5.40 per pound of copper and $1,468 per ounce of gold. See “Non-GAAP Financial Measures” for the definition and reconciliation of non-GAAP cash costs.
  • Molybdenum production for 2014 was 26.3 million pounds contrast to 29.9 million pounds in 2013.
  • Non-GAAP average molybdenum cash cost per pound produced for 2014 was $6.91 per pound contrast to $6.49 per pound in 2013. See “Non-GAAP Financial Measures” for the definition and reconciliation of non-GAAP cash costs.
  • Open market bond repurchases from December 2014 through the first week of January 2015 resulted in the principal retirement of $32.9 million of the outstanding principal amount of our unsecured bonds, reducing future interest payments by about $13.3 million. Total cash used through December 31, 2014 for this program was $23.4 million, with total cash used for the program through the first week of January 2015 of $30.4 million. These bond repurchases in December 2014 and January 2015, combined with the execution of the tMEDS exchange offer in the second quarter of 2014, have reduced our outstanding principal debt by $43.8 million and extinguished future interest payments by $14.1 million.
  • Capital expenditures in 2014 were $82.1 million, comprised of $77.0 million for Mount Milligan Mine (counting payment of about $21.0 million related to 2013 accruals related to construction and development) and $5.1 million of other capital costs for Endako Mine, TC Mine, the Langeloth Facility and corporate combined, contrast to $428.9 million in 2013.

Thompson Creek Metals Corporation Inc. is a North American mining corporation. The Corporation’s principal operating property is its 100%-owned Mount Milligan mine, an open-pit copper and gold mine and concentrator in British Columbia. The Corporation’s molybdenum assets comprise of its 100%-owned Thompson Creek Mine, an open-pit molybdenum mine and concentrator in Idaho, its 75% joint venture interest in the Endako Mine, an open-pit molybdenum mine, concentrator and roaster in British Columbia, and its Langeloth Metallurgical Facility in Pennsylvania.

Galena Biopharma Inc (NASDAQ:GALE) declined -6.00%, and closed at $1.88.

According to GLOBE NEWSWIRE, Galena Biopharma, Inc. (GALE), a biopharmaceutical corporation developing and commercializing innovative, targeted oncology therapeutics that address major medical needs across the full spectrum of cancer care, stated its financial results for the quarter and year ended December 31, 2014 and offered a business update.

FINANCIAL HIGHLIGHTS AND GUIDANCE:

“2014 was a productive year for Galena with noteworthy advances in our pipeline and commercial operations. We are happy to report $9.3 million net proceed for Abstral which is consistent with our guidance of $8 to $10 million for 2014. We expect net proceed to raise throughout 2015 based on raised Abstral demand combined with the launch of our second commercial product, Zuplenz. We reiterate confidence in our net proceed guidance of $15-$18 million for 2015 for our commercial operations,” added Ryan Dunlap, CPA, Vice President and Chief Financial Officer.

The corporation recognizes proceed from the sale of Abstral to wholesale pharmaceutical distributors, net of product-related discounts, allowances, product returns, rebates, chargebacks, and patient assistance benefits, as applicable. Net proceed was $3.2 million in the fourth quarter of 2014 and $9.3 million for the year ended December 31, 2014, contrast to $1.3 million and $2.5 million, respectively, for the same periods of 2013.

Operating loss for the fourth quarter of 2014 was $11.4 million, counting $1.0 million in stock based compensation, and $52.2 million, counting $5.4 million in stock-based compensation charges, for the year ended December 31, 2014, contrast to $12.4 million, counting $1.6 million in stock-based compensation, and $33.8 million, counting $2.9 million in stock based compensation, respectively, for the same periods in 2013. The rise in net operating loss year-over-year is primarily the result of our raised activity and enrollment in our Phase 3 PRESENT trial for NeuVax, our investigator sponsored trials for NeuVax, and our Phase 2 trial for GALE-401, in addition to raised selling and marketing expenses associated with the growth of our commercial activities.

Galena Biopharma, Inc. (GALE) is a biopharmaceutical corporation developing and commercializing innovative, targeted oncology therapeutics that address major medical needs across the full spectrum of cancer care. Galena’s development portfolio ranges from mid- to late-stage clinical assets, counting a robust immunotherapy program led by NeuVax(TM) (nelipepimut-S) presently in an international, Phase 3 clinical trial.

Bill Barrett Corporation (NYSE:BBG) dipped -5.92%, and closed at $9.54.

According to PRNewswire, on February 25, Bill Barrett Corp. (BBG), stated 2014 results and declared the 2015 Operating Plan and Strategy. Highlights comprise:

  • Total production in 2014 of 9.1 MMBoe, as formerly stated
  • Production raised 29% over 2013, pro forma for asset sales
  • Year-end 2014 proved reserves of 122 MMBoe, proved, probable and possible (“3P”) reserves of 477 MMBoe
  • Generated $231.6 million in discretionary cash flow, or $4.78 per diluted ordinary share
  • Reduced net debt by $266 million in 2014
  • Entered 2015 well positioned with zero drawn on credit line, $515 million liquidity and about 100% of projected 2015 oil production hedged at $90 per barrel
  • Received $42.9 million net cash settlement for Cottonwood Gulch litigation in February 2015
  • 2015 strategy to concentrate capital on highest return assets while maintaining strong balance sheet
  • 2015 operating plan has projected capital expenditures between $240-$280 million and total production between 5.5-5.9 million barrels of oil equivalent, or 10% production growth at the mid-point, pro forma for asset sales.

Bill Barrett Corporation (BBG), headquartered in Denver, Colorado, develops oil and natural gas in the Rocky Mountain region of the United States.

Stillwater Mining Company (NYSE:SWC)

dropped -5.87%, and closed at $13.47.

According to GLOBE NEWSWIRE, on February 20, Stillwater Mining Corporation (SWC) stated financial results for the year ended December 31, 2014.

Full-Year 2014 Highlights:

  • Merged net revenue attributable to ordinary stockholders of $70.3 million or $0.56 per diluted share, after expensing $10.4 million (before-tax) of reorganization costs
  • Net growth in cash and cash equivalents plus highly liquid investments of $65.5 million (before $30.0 million in debt repayment), ending 2014 with total cash and investments of $531.5 million
  • All-in Sustaining Costs (AISC)* averaged $784 per mined ounce of palladium and platinum, at the low end of the guidance range
  • Mined palladium and platinum production of 517,700 ounces at mid-point of guidance range
  • Processed 469,400 ounces of recycled palladium, platinum and rhodium
  • Stepped down $30.0 million of State of Montana exempt facility bonds
  • Corporate overhead and exploration expense reduced 35% year-on-year to $37.8 million.

Fourth Quarter 2014 Highlights:

  • Merged net revenue attributable to ordinary stockholders of $14.7 million or $0.12 per diluted share, after expensing $4.4 million (before-tax) of reorganization costs
  • Raise in cash and cash equivalents plus highly liquid investments of $22.7 million
  • Continued improvement in AISC to $725 per mined ounce of palladium and platinum
  • Mined palladium and platinum production of 137,600 ounces
  • Processed 115,900 ounces of recycled palladium, platinum and rhodium.

Headquartered in Billings, Montana, Stillwater Mining Corporation is the only U.S. miner of platinum group metals (PGMs) and the largest primary producer of PGMs outside of South Africa and the Russian Federation. PGMs are rare precious metals used in a wide variety of applications, counting automobile catalysts, fuel cells, hydrogen purification, electronics, jewelry, dentistry, medicine and coinage.

U.S. Stocks Losing Streaks In The Spotlight - Thompson Creek Metals Company, (NYSE:TC), Galena Biopharma, (NASDAQ:GALE), Bill Barrett, (NYSE:BBG), Stillwater Mining, (NYSE:SWC) Reviewed by on . Following U.S. Stocks were among the "Top Losers" during Friday's trade: Thompson Creek Metals Company Inc (USA) (NYSE:TC), Galena Biopharma Inc (NASDAQ:GALE), Following U.S. Stocks were among the "Top Losers" during Friday's trade: Thompson Creek Metals Company Inc (USA) (NYSE:TC), Galena Biopharma Inc (NASDAQ:GALE), Rating: 0

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