Latest Reports on Ballard Power Systems, Calfrac Well Services, First Quantum Minerals, and Ivanhoe Mines

NEW YORK, NY / ACCESSWIRE / September 14, 2016 / North American Markets slumped Tuesday as oil prices dropped sharply after the International Energy Agency (IEA) cut forecasts for global oil demand in 2016 due to “wobbling” demand from Asia. The S&P/TSX Composite Index dropped 1.70 percent to close at 14,370.48 14,349.10, while the S&P/TSX Venture Composite Index fell 2.06 percent to close at 797.17. The Dow Jones Industrial Average and the S&P 500 posted declines of 1.41 percent and 1.48 percent, respectively.

The IEA has lowered its demand growth forecasts by 100,000 barrels a day to 1.3 million barrels a day in 2016. Global oil demand has experienced an accelerated slowdown in the third quarter of 2016, dropping to 800,000 barrels a day, compared to 2.3 million barrels a day in the third quarter of 2015, according to the IEA.

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Ballard Power Systems Inc. (TSX: BLD)

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Ballard Power Systems’ shares declined 4.55 percent to close at C$2.52 a share Tuesday. The stock traded between C$2.45 and C$2.64 on volume of 420,847 shares traded. On September 7th, the company announced that it has received a purchase order from Shenzhen UpPower Technology Co. Ltd. in China for the supply of 10 FCveloCity-MD 30-kilowatt fuel cell power modules, which are to be integrated into clean energy buses. Shares of Ballard Power Systems have gained approximately 17.2 percent year-to-date and have gained roughly 6.8 percent in the past month.

Calfrac Well Services Ltd. (TSX: CFW)

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Calfrac Well Services’ shares fell 7.69 percent to close at C$2.64 a share Tuesday. The stock traded between C$2.61 and C$2.80 on volume of 1.68 million shares traded. The company reported revenues were C$150.6 million for the second quarter of 2016, a decrease of 53 percent when compared to the second quarter of 2015. The steep drop in revenues was largely due to a 37 percent decline in the company’s fracturing job count. Shares of Calfrac Well Services have gained approximately 15.3 percent year-to-date and are down roughly 18.3 percent in the past month.

First Quantum Minerals Limited (TSX: FM)

Get Your Up-To-Date First Quantum Research Report at www.rdinvesting.com/company/FM.

First Quantum Minerals’ shares declined 6.56 percent to close at C$10.11 a share Tuesday. The stock traded between C$10.04 and C$10.75 on volume of 4.62 million shares traded. During the second quarter of 2016, the company set new quarterly records for copper production and sales of 131,349 tonnes and 132,030 tonnes, respectively, surpassing previous records set in the first quarter of 2016. Shares of First Quantum Minerals have gained approximately 95.2 percent year-to-date, but have fallen roughly 13.4 percent in the past month.

Ivanhoe Mines Ltd. (TSX: IVN)

Get Your Up-To-Date Ivanhoe Mines Research Report at www.rdinvesting.com/company/IVN.

Ivanhoe Mines’ shares fell 6.91 percent to close at C$2.02 a share Tuesday. The stock traded between C$1.99 and C$2.16 on volume of 3.29 million shares traded. The company will be added to the S&P/TSX Composite Index after the close of trading on Friday, September 16th, 2016. On August 25th, Ivanhoe Mines reported positive results from its Kakula discovery on the company’s Kamoa copper project in the Democratic Republic of the Congo. Shares of Ivanhoe Mines have gained approximately 231.2 percent year-to-date and have gained roughly 17.4 percent in the past month.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Hemal K. Gandhi, a CFA® charter holder. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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