Compass Minerals has announced a partnership with EnergyX to extract lithium from Utah's Great Salt Lake, capitalizing on rising lithium prices and the U.S.'s increasing demand for the metal. This strategic move could bolster CMP's revenue and position in the battery materials market.
Compass Minerals announced cost structure reductions on March 25. The company's stock gained 43% over the last month. CMP has an RSI value of 80.7, indicating potential overbought status. Shares closed at $13.26 after gaining 2% on Tuesday. The company aims to generate cash flow and reduce debt.
CMP reported a loss of 55 cents per share, missing estimates by 70 cents. Quarterly sales of $307.2 million surpassed the $294 million estimates. 2025 salt revenue guidance was cut to $900 million - $1 billion. Analyst upgrades arise, with JP Morgan raising CMP's target to $15.
CMP expected to report a quarterly loss of 52 cents per share. Projected revenue for the quarter is $208.68 million, down from $233.6 million. Shares of CMP fell 2.3% to close at $13.28 recently. Analysts have mixed ratings, with some reducing price targets significantly. Loop Capital upgraded CMP to Buy but lowered the price target to $23.
- Q1 2024 revenue for Compass Minerals was $364 million, down 11.5% YoY. - EPS was $1.49, a significant increase from -$0.46 in the previous year. - Operating earnings for Plant Nutrition were -$53.40 million, significantly lower than the average estimate. Price Impact Rating: Bearish Impact Horizon Rating: Short-term Type: Earnings