Following U.S. Stocks were among the “Top Losers” during Monday’s trade: Magnum Hunter Resources Corp (NYSE:MHR), GoPro Inc (NASDAQ:GPRO), Alcoa Inc (NYSE:AA), Coeur Mining Inc (NYSE:CDE)
Their insights are depicted underneath:
Magnum Hunter Resources Corp (NYSE:MHR)’s shares dwindled -5.56%, and closed at $2.38.
Through Marketwired, on March 2, Magnum Hunter Resources Corp. (MHR), declared financial and operating results for the three months and twelve months ended December 31, 2014. The Corporation plans to file its Form 10-K for the year ended December 31, 2014 with the Securities and Exchange Commission later recently, Monday, March 2, 2015. Highlights of the Corporation’s financial and operating results comprise the following:
- Oil and gas proceed raised 21.7% to $268.5 million for the year ended 2014, contrast with proceed of $220.7 million for the year ended 2013
- Adjusted EBITDAX (a) for the fourth quarter of 2014 and full year 2014 were $25.9 million and $150.5 million, respectively
- Adjusted net loss (a) of ($0.24) and ($0.65) per diluted share is stated for the fourth quarter of 2014 and full-year 2014, respectively
- Net gain/(loss) of $0.21 and ($1.32) per diluted share is stated for the fourth quarter of 2014 and full-year 2014, respectively
- Stated production of 103.1 MMcfe/d (17,178 Boe/d) for the fourth quarter of 2014 and 101.3 MMcfe/d (16,879 Boe/d) for the full-year 2014
- Current record production of ~205.8 MMcfe/d (34,299 Boe/d), a 103% raise over 2014 average daily production
- Current production mix of 72% natural gas, 14% NGLs and 14% oil
- Stated 83.8 MMBoe of total proved reserves at year-end 2014, up 25% from year-end 2013 (as adjusted for stated asset sales during 2014)
- ~208,000 net acres in core plays, of which ~80,000 net acres in the Marcellus Shale and ~128,000 net acres in the Utica Shale presently under lease
- Current record throughput on Eureka Hunter Pipeline System of about 463,400 MMBtu/d
- The Corporation drilled and accomplished its first two Utica Shale dry gas wells, the Stalder #3UH (~47% working interest) and the Stewart Winland 1300U (~100% working interest), which tested at peak rates of 32.5 MMcf of natural gas per day and 46.5 MMcf of natural gas per day, respectively
- Closed on over $210 million of non-core asset sales in fiscal year 2014
- Raised ~$180 million of proceeds from sales of ordinary stock at $7 per share in fiscal year 2014
- All formerly stated material weaknesses in internal controls over financial reporting have been remediated as of year-end.
Magnum Hunter Resources Corporation and auxiliaries are a Houston, Texas based independent exploration and production corporation engaged in the attainment, development and production of crude oil, natural gas and natural gas liquids, primarily in the states of West Virginia and Ohio.
GoPro Inc (NASDAQ:GPRO), declined -5.43%, and closed at $37.95.
According to Zacks Research Staff, On Monday, Apple Inc (AAPL) CEO Tim Cook and other Apple executives held a press conference—in addition to a live stream—in San Francisco, announcing, most notably, the final details for the highly-anticipated Apple Watch.
The Apple Watch is the tech giant’s first venture into a new product category since 2011, when Apple debuted the iPad. It is also the corporation’s debut in the growing wearables market, which GoPro Inc (GPRO), has made popular with their line of wearable high-definition cameras.
Alcoa Inc (NYSE:AA) dipped -5.39%, and closed at $13.70.
According to BUSINESS WIRE, Lightweight, high-performance metals leader Alcoa Inc. (AA), is announcing another major milestone in its transformation, further building its value-add portfolio for profitable growth. The Corporation has signed a definitive contract to attain RTI International Metals, Inc. (RTI), a global supplier of titanium and specialty metal products and services for the commercial aerospace, defense, energy and medical device markets. Alcoa will purchase RTI in a stock-for-stock transaction with an enterprise value of $1.5 billion.
With RTI, Alcoa will grow its value-add businesses and further strengthen its aerospace portfolio. RTI will expand Alcoa’s range of titanium offerings and add advanced technologies and materials, increasing the Corporation’s position as a leading industrial innovator.
“Alcoa is accelerating its value-add growth engine by acquiring titanium leader RTI,” said Klaus Kleinfeld, Alcoa Chairman and Chief Executive Officer. “We are combining two innovators in materials science and process technology, shifting Alcoa’s transformation into a higher gear. RTI expands our aerospace portfolio market reach and positions us to capture future growth to deliver compelling value for customers, shareholders and employees.”
Under the terms of the contract, Alcoa will attain all outstanding shares of RTI in a stock-for-stock transaction. RTI shareholders will receive 2.8315 Alcoa shares for each RTI share, representing a value of $41 per RTI share based on Alcoa’s closing price on March 6, 2015. The transaction has an enterprise value of $1.5 billion, counting $330 million of RTI cash on hand and up to $517 million in RTI’s convertible notes.
Alcoa Inc. produces and manages primary aluminum, fabricated aluminum, and alumina worldwide. The corporation operates through four segments: Alumina, Primary Metals, Global Rolled Products, and Engineered Products and Solutions.
Coeur Mining Inc (NYSE:CDE), dropped -5.37%, and closed at $4.76
Coeur Mining, Inc. (CDE), President, Chief Executive Officer, and Director, Mitchell J. Krebs, presented at the ROTH Conference in Dana Point, California on March 9, 2015.
Coeur Mining is the largest U.S.-based primary silver producer and a noteworthy gold producer with five precious metals mines in the Americas employing about 2,100 people. Coeur produces from its wholly owned operations: the Palmarejo silver-gold mine in Mexico, the San Bartolome silver mine in Bolivia, the Rochester silver-gold mine in Nevada, the Kensington gold mine in Alaska, and the Wharf gold mine in South Dakota.
