E3 Metals is trading 1.3% higher today after releasing their quarterly financial report. The company reported consolidated revenue of $4.9 million for the quarter, which was up from $4.6 million in the same quarter last year.
Net income was $1.8 million, up from $1.5 million in the same period last year. The company also announced that it has raised its full-year guidance to reflect the positive trends observed in recent months.
CEO Raghu Rau said, “The company is executing well on our strategy and we are seeing positive trends across all of our businesses.”
Recently, ETMC Corporation (ETMC) announced that it has entered into a definitive agreement to sell its precious metals business to Goldcorp Inc. for $1.65 billion in cash and assumed debt.
The sale is subject to customary closing conditions, including approval by the Canadian securities regulatory authorities. ETMC stock forecast shows that the transaction is expected to be completed in the second quarter and is expected to be immediately accretive to ETMC’s net income and cash flow.
The sale of the precious metals business is a strategic move by ETMC as it seeks to focus on its core mining and oil and gas businesses. The company expects the precious metals business to generate $320 million in adjusted EBITDA, after tax. The sale also includes a net working capital adjustment of $100 million, which will be recognized in 2023.
The deal is a significant win for Goldcorp, as it acquires a high-quality, complementary business with significant growth potential. Goldcorp’s strategy is to focus its resource exploration and production businesses on higher-returning assets and to grow its precious metals business through acquisitions and organic growth.
Company Profile:
E3 Metals is a leading metals trader and processor, with operations in the United States, Europe, and Asia. The company’s goal is to provide customers with quality products and services at competitive prices.
It has a strong reputation for providing accurate and timely information about the market conditions affecting its various businesses. E3 Metals stock is trading at a price-to-earnings (P/E) ratio of 17.5, which is above the average P/E ratio for stocks in the metals processing and trading industry. The company has a current ratio of 2.7.
Takeaway:
ETMC (E3 Metals) stock performance is expected to be positive in the near term. The company is expecting increased demand for its products in the global market. ETMC’s stock price should increase as a result.
