-- Strategy (MSTR) has an average rating of Buy and mean price target of $316.43, according to analysts polled by FactSet.
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Price: $160.90, Change: $-4.81, Percent Change: -2.90%
RBC Capital Markets maintained its outperform, speculative risk, rating on the shares of First Quantum Minerals (FM.TO)' and its C$45.00 price target following the company's first-quarter results.RBC expects a modest negative reaction to the results, given a headline miss on EBITDA and adjusted earnings per share.The company reported a first-quarter EBITDA of US$326 million, below RBC's forecast of US$461 million and the consensus estimate of US$448 million.Adjusted loss of US$0.18 per share also missed RBC's EPS forecast of US$0.01 per share and the consensus estimate of US$0.06 per share.First Quantum's financial results were impacted by US$144 million of losses on hedges and from lower sales due to timing and inventory replenishment.Price: $33.64, Change: $-0.65, Percent Change: -1.90%
US equity indexes traded lower around midday Wednesday as crude oil futures and government bond yields rose amid concern that Iran's blockade will be extended to force Tehran into a peace deal.The Dow Jones Industrial Average fell 0.7% to 48,789.2, with the S&P 500 down 0.2% to 7,122.9. The Nasdaq Composite was 0.2% lower at 24,620.7.President Donald Trump has instructed aides to prepare for an extended blockade of Iran, US officials told The Wall Street Journal. In recent meetings, including a Monday discussion in the Situation Room, Trump opted to continue squeezing Iran's economy and oil exports by preventing shipping to and from its ports, the WSJ said.Trump assessed with his aides that the other options open to him -- resume bombing or walk away from the conflict -- carried more risk than maintaining the country's blockade, the officials told the WSJ."Iran can't get their act together. They don't know how to sign a nonnuclear deal. They better get smart soon!" Trump said in a Truth Social post Wednesday.Meanwhile, West Texas Intermediate crude oil futures jumped 4.9% to $104.86, and Brent crude futures surged 5% to $116.85 amid concern that Trump's policy will prolong disruption in the Strait of Hormuz, the chokepoint for 20% of global crude oil flows.
Delek Logistics (DKL) reported Wednesday Q1 throughput growth across key Permian Basin assets, with mixed volumes across segments compared with a year earlier.In the Delaware Basin, natural gas gathering and processing volumes averaged 63.9 million cubic feet per day in Q1, up from 59.9 MMcf/d a year earlier.Crude gathering rose to 129,451 barrels per day for the quarter ended Mar. 31, down from 122,226 b/d a year earlier.Midland Gathering System crude volumes fell to 218,203 b/d for the quarter, down from 246,090 b/d a year earlier, the company added.Delek reported Plains Connection volumes of 212,359 b/d for the quarter, up from 179,240 b/d a year earlier.Terminalling throughputs averaged 135,744 b/d, compared with 135,404 a year earlier, while West Texas marketing volumes rose to 11,771 b/d from 10,826 b/d a year earlier.Crude pipeline volumes, non-gathered, averaged 62,758 b/d in Q1, up from 61,888 b/d a year earlier, while refined products pipelines to Enterprise Systems fell to 44,658 b/d, from 56,010 b/d a year earlier.El Dorado Gathering System volumes declined to 9,220 b/d from 10,321 b/d a year earlier, while East Texas Crude Logistics System volumes rose slightly to 27,284 b/d from 26,918 b/d over the year.Delek Logistics completed drilling of its first acid gas injection well at the Libby Gas Complex during the quarter, advancing its sour gas processing and handling capabilities in the Delaware Basin.Price: $52.52, Change: $+1.66, Percent Change: +3.26%