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Beach Energy Shareholders Eye Total Shareholder Returns After Dividend Cut, Euroz Hartleys Says

Beach Energy (ASX:BPT) shareholders are now focused on total shareholder returns rather than dividends alone after the oil and gas company slashed its interim dividend by 67%, Euroz Hartleys said in a note on Thursday.The investment firm said investors are watching the company's future capital allocation strategy ahead of its FY26 results and are looking for either a "meaningful" addition to reserves/resources or a return to stronger distributions.The company had an operationally soft fiscal fourth quarter with production coming in at the lower end of guidance. However, it managed to strengthen itself financially, with lower net debt supporting the balance sheet and providing capacity for future growth. The company reported available liquidity of AU$983 million and net gearing of 10.6%.Euroz Hartleys maintained its hold rating on Beach Energy but lowered the price target to AU$1.02 from AU$1.12, citing an updated sum-of-the-parts valuation.

ASX:BPT

Asia22d ago

Viridis Mining and Minerals' Brazil Rare Earth Project Shows Stronger Economics Potential, Euroz Hartleys Says

Viridis Mining and Minerals (ASX:VMM) is well positioned to deliver improved economics at its Colossus rare earth project following stronger-than-expected demonstration plant recoveries and progress toward a Solvay offtake agreement, Euroz Hartleys said in a Thursday note.Euroz Hartleys said the Colossus demonstration plant achieved July average recoveries of 79% magnet rare earth oxides (MREO) and 64% total rare earth oxides, exceeding pre-feasibility study (PFS) assumptions, with peak MREO recoveries above 80% despite processing lower-grade ore from the northern concessions.The research firm noted that the demonstration plant achieved strong metallurgical performance despite processing feed averaging 803 parts per million (ppm) of MREO, below both the PFS life-of-mine average of 936 ppm and the 1,420 ppm head grade used in earlier Australian Nuclear Science and Technology Organization bulk composite testwork.The research firm estimates stronger recoveries could materially improve definitive feasibility study (DFS) economics, lifting its risked net asset value by about AU$0.30 per share, with further process optimization offering additional upside.It also highlighted progress with Solvay, expecting a binding offtake and technical services agreement in the September quarter and higher mixed rare earth carbonate (MREC) payabilities in the DFS, supported by the planned commercial-scale lanthanum removal circuit.It raised its risked net asset value by 2% to AU$5.40 per share after updating its model with improved ore-to-MREC recovery assumptions ahead of the DFS.Euroz Hartleys maintained a speculative buy rating on Viridis Mining and Minerals while raising the price target to AU$5.40 from AU$5.27.

ASX:VMM

Asia22d ago

Vault Minerals Secures Key Approvals for Canada Tailings Facility

Vault Minerals (ASX:VAU) has received key regulatory approvals to allow construction of the proposed southern tailings management facility (STMF) at its Sugar Zone mine in Ontario, Canada, according to a Friday filing with the Australian bourse.The company secured approval for its closure plan amendment and an amended environmental compliance approval, clearing the way for tailings discharge into the new facility, per the filing.The STMF will serve as the Sugar Zone mine's sole tailings storage facility over the current ore reserve life, replacing the existing dry-stack and slurry deposition system with a lower-cost, more capital-efficient alternative, the filing said.The company has completed site preparation and is advancing major earthworks and infrastructure construction, with primary dam and pipeline construction scheduled for the 2027 Canadian construction season, the filing added.

ASX:VAU

Asia22d ago

Qantas Airways' First Project Sunrise Test Flight to Land in Melbourne

Qantas Airways' (ASX:QAN) first test flight under its Project Sunrise initiative departed from Toulouse, France, on Thursday and is due to land in Melbourne, Australia, on Friday morning after a 19-hour journey, according to multiple media reports on Friday.The test flight of the Airbus A350-1000ULR, which was custom-built for the airline's planned non-stop flights between Sydney and London starting from October 2027, was being tracked by thousands of people on Flightradar24 shortly after take off, news.com.au reported.Airbus is putting the A350-1000ULR through test flights under a range of conditions, including turbulent weather, The Australian reported.

ASX:QAN

International22d ago

New Zealand Job Ads Rise 0.2% in June, Seek Says

Jobs advertisements in New Zealand rose 0.2% month on month in June, extending a 19-month streak of growth, primarily driven by vacancies in the industrial and construction sectors, employment marketplace Seek said Friday.The firm said job postings that reference artificial intelligence (AI) skills have more than doubled annually and increased 3.9% month on month.Jobs most likely to be affected by AI automation, including roles in legal, accounting, and other professional services are also seeing growth. However, AI has not reduced demand for these roles.Applications per job ad remain high, although the trend has been gradually declining since mid-2025. Small segments of the professional and consumer services sectors continue to experience slower hiring activity.Regionally, Taranaki and Canterbury led growth during the month, with upticks of 2.5% and 1.3%, respectively. Wellington recorded a modest monthly jump of 0.9%, while job ads in Auckland declined by 0.4%.

^NZ50

Commodities22d ago

Trump Says 220 Organizations Join Ratepayer Pledge to Shield Consumers From AI Power Costs

US President Donald Trump said Thursday that over 220 organizations have joined the Ratepayer Protection Pledge to keep AI-related electricity costs off consumers.Trump said that after he introduced the plan a few months ago, "more than 220 utilities, tech companies, state governments, and other partners have signed our Ratepayer Protection Pledge."The US President said rising electricity demand from artificial intelligence should not burden households, with large technology companies instead funding the required power infrastructure."America's largest tech companies have formally committed to fund or build all energy infrastructure required to meet the demand they are placing on the grid," Trump added.Trump said the administration will let technology companies build their own power plants for data centers. He added the facilities will feed excess electricity into the grid, "... so we'll actually end up with more electricity," he said.Trump said the pledge now helps keep electricity prices in check across utilities responsible for about 80% of US power distribution. "We have kept rates down, way down," he said.American Electric Power estimates its data center contracts will generate as much as $16 billion in consumer cost offsets, Trump said, citing the agreements as evidence that technology investments can reduce costs for households.Trump said several new power plants will begin operating over the next two years, expanding electricity supplies to meet growing demand from artificial intelligence and other industries.He also highlighted commitments from utilities participating in the initiative, saying Georgia Power has frozen residential base rates through 2029, which he cited as an example of protecting consumers from higher electricity bills."AI is probably the biggest thing anybody's ever seen, and whoever wins that race is probably going to win," Trump said, arguing the US must expand power generation to stay ahead of China.Trump criticized regions facing recurring brownouts and blackouts, saying they cannot support surging electricity demand.He said the Ratepayer Protection Pledge will expand generating capacity while requiring major technology companies to finance their own energy needs.

Commodities22d ago

Market Chatter: US Venezuelan Crude Imports Hit Highest Since 2012

US refiners are importing the most Venezuelan crude in almost a decade, with July imports expected to average about 804,000 barrels per day, the highest since 2017, after the US lifted sanctions earlier this year, Bloomberg reported on Thursday.Refiners along the US Gulf Coast are increasing purchases of Venezuelan crude as a hedge against potential Canadian oil sands supply disruptions, as hot and dry weather raises the risk of wildfires. Canadian heavy crude is similar in quality to Venezuelan grades.US refiners are benefiting from some of the strongest profit margins in years, supported by relatively low fuel inventories and geopolitical supply disruptions. Last week, the US Gulf Coast 3-2-1 crack spread reached its highest level since at least 2012.Growing US demand has also strengthened the Gulf Coast market for Venezuelan crude. Discounts for the heavy grade have narrowed to about $10 per barrel below ICE Brent from roughly $15/bbl in May, offsetting weaker Chinese demand, which has fallen significantly this year.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Asia22d ago

Newmont Posts Higher Q2 Adjusted Earnings, Revenue

Newmont (ASX:NEM) reported Friday second quarter adjusted net income of $2.10 per share, up from $1.43 a year earlier.Analysts polled by FactSet expected earnings of $1.99.Revenue for the three months ended June 30 was $6.12 billion, compared with $5.32 billion a year earlier. Analysts surveyed by FactSet expected $6.36 billion.The company said it remains on track to meet its 2026 total attributable gold production guidance of 5.3 million ounces at an all-in sustaining cost of $1,680 per ounce.The board declared a quarterly dividend of $0.26 per share, up from $0.25 a year earlier, payable Sept. 28 to shareholders on record as of Sept. 3.

ASX:NEM

Commodities22d ago

Ovintiv Q2 Production Edges Lower, Lifts Full-Year Output Outlook

Ovintiv (OVV) reported Q2 earnings Thursday, showing total production of 614,600 barrels of oil equivalent per day, compared with 615,300 boe/d a year earlier.Oil production dropped to 123,000 b/d for the quarter ended June 30, down from 142,000 b/d a year earlier, the company said.Natural gas production rose to 1,959 million cubic feet per day for the quarter ended June 30, up from 1,851 MMcf/d in the year-ago period.Oil and plant condensate production edged down to 205,800 b/d, compared with 211,200 b/d.Plant condensate output increased to 82,800 b/d, up from 69,200 b/d for the same quarter last year, while other natural gas liquids production declined to 82,400 b/d, down from 95,500 b/d a year earlier.Total liquids production fell to 288,200 b/d from 306,700 b/d in the year-ago quarter, according to the company.Ovintiv raised its full-year 2026 production outlook to 630,000 boe/d to 645,000 boe/d while keeping planned capital investment unchanged at $2.25 billion to $2.35 billion.The full year guidance includes 210,000 b/d to 212,000 b/d of oil and condensate, 83,000 b/d to 85,000 b/d of natural gas liquids and 2.025 Bcf/d to 2.075 Bcf/d of natural gas.In the Permian, Ovintiv produced 231,000 boe/d in Q2, with liquids accounting for 78% of volumes, and turned 38 net wells in line. The company plans to bring 125 to 135 net wells online.Montney production averaged 374,000 boe/d in the second quarter, with liquids making up 27% of output, while the company turned 40 net wells in line. Ovintiv plans to bring 130 to 140 net wells online this year.

$OVV

Equities22d ago

Delek US Keeps Quarterly Dividend at $0.255 a Share, Payable Aug. 10 to Holders of Record Aug. 3

$DK

Oil & Energy22d ago

US Oil Update: Crude Settles Higher as Houthi Attacks Deepen Supply Risk Fears

Crude futures settled higher in after-hours trading on Thursday as escalating Middle East hostilities and threats to commercial shipping by Yemen's Houthis heightened global supply fears.Front-month West Texas Intermediate crude futures rallied 6.4% to $92.536 per barrel, while Brent futures soared by 6.9% to $100.65/bbl.US commercial crude oil inventories increased by 2 million barrels to 411.7 mmbbls in the week ended July 17, the Energy Information Administration said in its weekly report on Wednesday.Crude inventories are now about 6% below the five-year average for this time of year, the EIA saidGelber & Associates said that the narrative of low US crude inventories is adding support, leaving prices highly sensitive to further military action or signs of de-escalation.On Thursday, President Trump said that the US will punish Iran for any ship attacks by the Houthis, after the group targeted two Saudi Arabian vessels in the Red Sea, extending the Middle East conflict to a second major shipping chokepoint."If they do this again, the US will hold Iran responsible, in that the Houthis are a surrogate and/or proxy of Iran, and major military punishment will be inflicted upon Iran and, of course, the Houthis themselves," Trump said in a social media post on Truth Social.The US President's remarks followed Houthis' attack on two Saudi Arabian oil tankers, the Encelia and the Layla, in the Red Sea. The attack triggered a fire on the Encelia, while several other tankers altered course or suspended transits through the vital Bab el-Mandeb Strait.The US Central Command also completed its 12th consecutive night of attacks on Iranian targets on Wednesday, hours after Trump said the US would destroy an Iranian bridge or power plant each time Iran attacks a ship in the Strait of Hormuz.US forces struck Iranian military targets including maritime capabilities, missile and drone storage facilities, coastal surveillance sites, and air defense assets, Centcom said in a post on X, adding that over 50,000 US service members are operating across the Middle East.Iran, in response, said it attacked US missile systems, weapons and fuel storage sites in Jordan, as well as US military posts in Kuwait.Meanwhile, Iran's Islamic Revolutionary Guards Corps said an oil tanker caught fire after an explosion while attempting to follow a mined route in the southern area of the Hormuz near the coast of Oman and that two others had turned back.Kpler strategists said that with pressure building on both major export corridors, market attention is shifting from concerns over excess supply to the growing risk of prompt crude tightness.Saxo Bank strategists said that the US-Iran conflict escalated further, with Centcom launching fresh strikes on Iranian military targets on Wednesday night and both sides playing down the prospect of near-term talks.

Oil & Energy22d ago

Brent Supported by Gulf Supply Disruptions, Tight Fuel Markets, Macquarie Says

Brent's recent rebound of about $20 per barrel from early July lows should keep crude prices supported over the next few weeks as Gulf supply declines, Vikas Dwivedi, Global Energy Strategist at Macquarie, said.Dwivedi noted that the rally comes even though earlier supply surges during the interim memorandum of understanding period have largely satisfied near-term demand.The analyst said a renewed geopolitical risk premium and a short squeeze have driven the recent oil rally.Dwivedi sees a moderate chance of limited escalation but a low risk of broader conflict absent "a serious miscalculation by either side."He expects refining margins to remain elevated as limited processing capacity keeps fuel markets tight.The analyst attributed the tightness to four potential sources.Russian refinery runs have dropped to 3.5 million barrels per day, their lowest level in 20 years due to Ukrainian attacks.Other factors contributing to this tightness include the US Gulf Coast hurricane season posing outage risks, unseasonably high temperatures impacting European refinery outages, and lower Indian gasoil exports."The ability to resupply global product markets could be limited as the majority of global spare capacity sits in Asia, predominantly China," the analyst said.However, Macquarie expects lower export quotas will likely limit additional Chinese fuel shipments, keeping refined product markets tight over the near term.The firm said refined product markets saw material tightness, with diesel and gasoil markets tightening the most.About 20% of global seaborne diesel supplies are constrained by Strait of Hormuz disruptions and Russia's export ban. African, European and South American buyers now compete more aggressively for US exports, it added.The firm said oil flows through the Strait of Hormuz have slipped near April levels, with the seven-day average for crude, condensate and clean products at about 3 million b/d, or 16% of the January-February pre-conflict average and roughly one-third of memorandum of understanding-period volumes.

Asia22d ago

Chorus Fiscal Q4 Fiber Connections Rise to Over 1 Million

Chorus (ASX:CNU, NZE:CNU) said fiber connections grew by 5,000 in the fiscal fourth quarter to 1.1 million, compared with a gain of 13,000 in the fiscal third quarter, according to a Friday filing with the Australian and New Zealand bourses.The company said total fixed line connections fell by 4,000 in June quarter to 1.2 million, compared with an increase of 3,000 in the previous quarter, as losses in copper connections outpaced gains in fiber connections.Average monthly fiber data usage came in at 731 gigabytes in June, compared with 696 gigabytes in March.The company's fiber footprint now covers 1.5 million addresses, with fiber uptake across those premises at nearly 76%, up 0.4 percentage points in the June quarter.

ASX:CNUNZE:CNU

Wire22d ago

Business First Bancshares Q2 Earnings, Revenue Rise; Shares Drop After Hours

Business First Bancshares (BFST) reported core Q2 earnings late Thursday of $0.71 per diluted share, up from $0.66 a year earlier.Analysts polled by FactSet expected $0.70.Revenue in the three months ended June 30, expressed as net interest income plus total other income, rose to $91.8 million from $81.5 million.Four analysts expected $91.3 million.The company's shares fell 3.3% in after-hours trading.

$BFST

Wire22d ago

RingCentral Q2 Adjusted Earnings, Revenue Rise; FY Guidance Increases

RingCentral (RNG) reported Q2 non-GAAP net income late Thursday of $1.22 per diluted share, up from $1.06 a year earlier.Analysts polled by FactSet expected $1.16.Revenue in the three months ended June 30 rose to $657 million from $620 million a year earlier.Analysts expected $650.5 million.RingCentral expects Q3 non-GAAP EPS of $1.25 to $1.30 on revenue of $664 million to $670 million.Analysts expect EPS of $1.25 on revenue of $663.2 million.The company raised full-year non-GAAP EPS guidance to the range of $4.96 to $5.10 on revenue of $2.635 billion to $2.646 billion. The previous forecast was EPS of $4.85 to $5.01 on revenue of $2.62 billion to $2.64 billion.Analysts expect EPS of $4.92 on revenue of $2.63 billion.RingCentral shares rose 1.2% in after-hours trading.

$RNG

Commodities22d ago

US Natural Gas Update: Futures Prices Stable after Inventory Report

US natural gas futures were little changed in after-hours trade on Thursday after government data showed a weekly storage build that was broadly in line with market expectations amid plentiful supplies.The front-month Henry Hub contract and the continuous contract were both down 0.34% at $2.915 per million British thermal units.The US Energy Information Administration said natural gas inventories rose by 32 billion cubic feet in the week ended July 17, within analysts' expectations of a 20 Bcf to 39 Bcf build, according to Aegis Hedging.Working gas in underground storage totaled 3,056 Bcf, 16 Bcf, or 0.6%, below year-earlier levels but 183 Bcf, or 6.4%, above the five-year average of 2,873 Bcf. The Energy Buyers' Guide noted the surplus to the five-year average was the largest since September, although inventories remained within the historical range.The latest injection was the smallest of the storage refill season, reflecting stronger cooling demand that reduced the amount of gas available for storage.US natural gas production was estimated at 109.2 Bcf/d, while net Canadian imports fell 13% to 4.7 Bcf/d, leaving total supply at about 114 Bcf/d, according to Gelber & Associates. Barchart, citing BNEF data, said production fell 0.2 Bcf on the day to 110.7 Bcf/d, but was up 1.5% over the same day last year.Total daily demand fell by 2.8 Bcf on Thursday to 77.8 Bcf/d, down 1.2% from a year ago, according to BNEF data. A large part of the daily drop came from the power sector, where demand fell nearly 6% to 46.5 Bcf/d. NRG Energy attributed the decline to milder weather across key eastern demand centers.NRG said mild conditions are expected to persist across much of the eastern US in the near term, while above-normal temperatures should continue across the Plains, Rockies and West through the first week of August.LNG demand remained firm, with feedgas deliveries estimated at 18.1 Bcf/d despite maintenance at Freeport LNG and the approach of Tropical Storm Bertha. Gelber said Bertha threatens to disrupt operations on the US Gulf Coast, which could move natural gas volumes originally destined for export back into the domestic market. However, after already making landfall in Louisiana earlier on Thursday, it is expected to move inland over Texas late Thursday and dissipate.

Equities22d ago

Ovintiv Q2 Adjusted Earnings Rise

Ovintiv Inc (OVV) reported Thursday Q2 adjusted earnings of $491 million, up from $265 million a year earlier.

$OVV

Mining & Metals22d ago

Ovintiv Posts Higher Q2 Earnings; Full-year Production Outlook Lifted

Ovintiv (OVV.TO) was last seen down 2.2% in after-hours New York trading after the company on Thursday reported Q2 earnings of $1.62 per share, up from $1.18 a year ago.Analysts polled by FactSet expected $1.94.For Q3, the company expects total production of 615,000 to 640,000 barrels of oil equivalent per day (MBOE/d).For the full year, production is now projected to be 630,000 to 645,000 MBOE/d, driven by higher oil, condensate, and natural gas liquids volumes, the company said, adding its 2026 capital investment guidance remains unchanged at $2.25 billion to $2.35 billion.The board declared a quarterly dividend of $0.30 per share of common stock payable on Sept. 29 to shareholders of record as of Sept. 15, according to the statement.The company's shares were last seen down $1.33 to $60.06 after hours. They closed up C$1.21 to C$86.45 on the Toronto Stock Exchange.

$OVV.TO

Asia22d ago

Gentrack Group Says UBS Group Reduces Stake

Gentrack Group (ASX:GTK, NZE:GTK) received notice that UBS Group and its affiliated entities decreased their holdings in the company to 5.584% from 6.668%, according to a Friday filing with the New Zealand bourse.UBS Group and its affiliates now own 6.3 million shares in the company, the filing said.

ASX:GTKNZE:GTK

Mining & Metals22d ago

Imperial Metals Reports Lower Q2 Copper, Gold Production at Red Chris Mine

Imperial Metals Corporation (III.TO) after the market close on Thursday reported copper and gold production for the second quarter 2026 from Red Chris mine.Red Chris metal production for the quarter was 17.924 million pounds copper and 14,591 ounces gold. Both copper and gold production were down compared with the same period last year, with copper production down 24% and gold production down 36%.Imperial's 30% share of Red Chris mine production was 5.377 million pounds copper and 4,377 ounces gold.Company's shares closed down C$0.21 to C$7.22 on Toronto Stock Exchange on Thursday.

$III.TO

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Oil & Energy22d ago