Breaking News
Get 40% Off 0
👀 Reveal Warren Buffett's stock picks that are beating the S&P 500 by +174.3% Get 40% Off

Horizonte Minerals’ Shares Rebound Following Araguaia Project Advancements

Published Oct 23, 2023 05:46
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.
 
HZM
-10.93%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

Shares of Horizonte Minerals experienced a 4% rise on the London Stock Exchange on Monday, due to progress in their Brazilian Araguaia project. The project has been moving forward without any construction delays, contributing to the uptick in share value.

Despite this recent rise, the company's shares have seen a significant drop of 87% since the beginning of the year. However, shares managed to reach a high of 20 pence on Monday, marking a slight recovery.

The Araguaia project has been a significant investment for Horizonte Minerals, with the company pouring $429 million into it by the end of Q3 2023. The primary goal of the project is to enhance the company's footprint in Brazil and expand its mineral extraction operations.

However, the company's share value suffered a dramatic fall earlier this year due to a delay in first production to Q3 2024 and an anticipated capital expenditure growth of at least 35%. This delay and projected increase in costs have raised concerns among investors and contributed to the significant decrease in share value since the start of the year.

Despite these challenges, the recent advancements in the Araguaia project and the absence of further construction delays have provided some respite for Horizonte Minerals' shareholders. As the project progresses, investors will be closely watching for further developments and their potential impact on share value.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Horizonte Minerals’ Shares Rebound Following Araguaia Project Advancements
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email