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So, what is FinTech? Financial Technology (FinTech) is the technology and innovation that aims to compete with traditional financial methods in the delivery of financial services. (1) In short, FinTech uses technology to improve activities in finance. FinTech is composed of the new applications, processes, products, or business models in the financial services industry often composed of one or...READ MORE

Orion Group Holding (ORN): New Awards of $18 million Push YTD Awards to $40 million.

Added concrete awards of $18 million helps 2020 visibility. Total concrete awards total $40 million so far in January. Three structural construction in Houston totaling $18 million were awarded. Combined with earlier awards totaling $22 million, about $40 million of work has been awarded so far this year. The work helps near-term visibility in...READ MORE

Jeb Bush to Present at NobleCon16 Investor Conference

Presidents Day 2020, Jeb Bush, Governor of Florida (1999-2007) will provide the opening address at Noble Capital Markets annual investor conference, NobleCon16. Bush’s keynote address on Monday, February 17, should offer a unique perspective on the upcoming election, along with with current business and economic topics. During his eight years as Governor, Bush became...READ MORE

Kratos Defense & Security (KTOS): Well Positioned for 2020

Risk/Reward Remains Enticing. Following our October 1st upgrade, KTOS shares rose 16.7% by mid-November before drifting back down to the current level. We continue to believe KTOS shares represent a favorable risk/reward opportunity at these levels. Opportunity Set Growing. Kratos's opportunity set remains large and...READ MORE

Coeur Mining (CDE): Fourth Quarter Production Results Disappoint; Rating Remains Outperform

CDE reports fourth quarter 2019 production results. Coeur Mining reported fourth quarter production of 94,716 ounces of gold, 3.2 million ounces of silver, 3.9 million pounds of zinc and 4.0 million pounds of lead. On a year-over year basis, gold and...READ MORE

Energy Fuels (UUUU): Is Relief for the Uranium Industry Imminent?

U.S. Nuclear Fuel Working Group recommendations. While it has been reported that the working group submitted recommendations to the President in November, they have not been made public. In our view, the President is more likely to.....READ MORE

Aurania Resources (ARU:CA): Making the Most of a Mineral-Rich Project

Precious metals exploration. Twenty epithermal targets have been identified. These include four areas at Yawi and six other targets that are being prepared for drilling. The company is applying a unique combination of historical research, field work, data analytics and...READ MORE

Cobalt and Rare Earth Metals from the Ocean Floor Eyed to Meet Growing Battery Demand

The pursuit of seabed minerals, including polymetallic nodules containing nickel, copper, cobalt, and manganese is being driven by growing demand for batteries to power electric cars and to store wind and solar energy. Discoveries of rich deposits on the seafloor and...READ MORE

Do Budget Deficits Matter? U.S. Deficit Tops $1 Trillion in First 11 Months of Fiscal Year

The U.S. budget deficit topped $1 trillion in calendar 2019 according to Treasury Department figures released on Monday. The $1.02 trillion deficit was an increase of 17.1% from the previous year. The U.S. deficit has expanded for four consecutive years. This is the first time...READ MORE

Cryptocurrency and the Howey Test: Are They Securities?

Are Cryptocurrencies securities? Should cryptocurrencies be regulated? Why? If so, by whom? These are just some of the questions with which regulators and the cryptocurrency industry are struggling. One of the key drivers behind the success of blockchain is.....READ MORE

Kelly Services Inc. (KELYA): Latest Acquisition Adds to Educational Services Segment

Acquires Insight. After the market closed on Tuesday, Kelly announced the acquisition of Insight, a fast growing educational services staffing company serving some 60 school districts across four states. The Insight acquisition continues Kelly's strategy of expanding its business in key specialties, in our view. Strengthens Existing Markets. Insight strengthens Kelly's presence in...READ MORE

Pyxis Tankers Inc. (PXS): Delta MR Tanker Sale Closed

Sale of 2006-built MR Tanker has closed. The Pyxis Delta sale was driven by the trade-off between cash flow potential and rising fuel/maintenance cost, including the cost of the upcoming 15-year survey. In addition debt repayment might have played a role. No impact to 2019 estimates. Our 2019 EBITDA estimate stays in the $6.2 million range based on...READ MORE

E.W. Scripps Company (SSP): Why Is Scripps Among Our 2020 Favorites?

Influx of cash. Free cash flow is estimated to be as much as $250 million in 2020 due to a combination of strong, high margins, Political advertising and a step up of an estimated $70 million in Retransmission revenue. Favorable Political Footprint. The company is positioned to capture presidential political advertising in swing states including AZ, FL, MI, OH, NV, WI and...READ MORE

Great Panther Mining Limited (GPL): Upgrading Based on Improving Risk and Reward Profile

GPL reports fourth quarter production results. In aggregate, fourth quarter production increased 275.7% to 44,697 gold equivalent ounces versus the prior year period and decreased 5.7% compared to the third quarter of 2019. The significant year-over-year increase in gold production reflects the...READ MORE

Orion Group Holdings (ORN): New Concrete Awards Help Near-term Visibility

Concrete awards of $22 million helps 2020 visibility. Three light commercial jobs in Texas totaling $22 million were awarded; two in Dallas for $14 million and another in Houston for $8 million. The work helps concrete visibility since it begins this quarter with...READ MORE

Sierra Metals (SMTS): SMTS Updates Yauricocha Mineral and Reserve Estimate

While contained metals decreased in total, proven reserves and measured resources increased. The decline in overall contained metals relative to the last reserve and resource estimate was due, in part, to a more conservative method for measuring the density...READ MORE

Coeur Mining (CDE): Exploration Efforts to Increase in 2020; Focus on Resource Discovery and Conversion

Coeur releases updates on 2019 exploration program. The central message is that management considered the 2019 exploration program productive, particularly with respect to...READ MORE

Natural Gas Production In the Marcellus Basin Declined in 2019 After Years of Rapid Growth

Ten years ago, gas production in the Marcellus Basin of Appalachia represented less than 5% of domestic production. At the end of 2018, it represented 41% of production. This stratospheric rise came to a halt in...READ MORE

Harte-Hanks Inc. (HHS): New Leadership For A New Phase?

Appoints a new C-level management team. The company appointed Andrew Benett as Executive Chairman and CEO, Brian Linscott as COO, and promotes Lauri Kearnes to CFO position, replacing departing Mark Del Priore. Andrew...READ MORE

Endeavor Silver (EXK): Guanacevi and Bolanitos Mines Expected to Drive 2020 Production Growth

EXK reports fourth quarter 2019 production results. EXK reports fourth quarter 2019 production results. Compared to the prior year period, fourth quarter silver and gold production declined 32.2% and 27.0% to 939,511 ounces and 9,578 ounces, respectively. Although partially offset by greater production at the Guanacevi and...READ MORE

NobleCon16 Panelists to Discuss if a Cure for Type 1 Diabetes is Imminent

Is the day when we have a functional cure for Type 1 Diabetes approaching? There are 1.25 million people in the U.S. alone afflicted with T1D. Noble Capital Markets has assembled a panel from among the world’s top medical researchers in this field to discuss advancements and therapies toward curing Type 1. The panel discussion will take place at NobleCon16 being held from...READ MORE

QuoteMedia (QMCI): Among Our Candidates For Most Likely To Succeed in 2020

Tweaking our full year 2019 and 2020 estimates slightly upward. Based on our Q4 adj. EBITDA estimate of $463,000, our full year 2019 cash flow estimate is $2.06 million. We anticipate that full year 2020 cash flow will decline 10% to $1.84 million, up roughly $200,000 from our previous estimate of $1.63 million. Upside to our estimates. Our 2020 estimates...READ MORE

Cumulus Media Inc. (CMLS): Business As Usual

In search of a CFO. The company announced that its CFO, John Abbot, will be leaving after it reports its fourth quarter and full year results. We do not believe that there is any financial or nefarious reason that he will be leaving. Long commute. Mr. Abbot commuted from his home in Connecticut to Atlanta, where the firm is based, and...READ MORE

Long Term Investors and Small Cap Stocks

According to Ibbotson Associates’ Stocks, Bonds, Bill and Inflation, small Capitalization stocks outperform Large Capitalization stocks over the long term. (Although there is not a set definition for a Small Cap stock, generally speaking Small Cap stocks are those with a market capitalization below $2 billion today, while Large Cap stocks refer to...READ MORE

ProMIS Neurosciences (PMN:CA): What Does Biogen’s Progress Mean for ProMIS?

ProMIS issues White Paper. ProMIS Neurosciences issued a white paper discussing data released by Biogen (a competitor in the field) from two Phase III clinical trials on the use of aducanumab for the treatment of Alzheimer’s disease. Impact of Biogen’s recent developments. Going into the new year, all eyes will be on...READ MORE

Grindrod Shipping (GRIN): Dry Bulker with Tanker Upside - Launching Coverage

Launching coverage.A high quality asset base, consistent TCE rate outperformance and simplified corporate structure are positives. GRIN has dropped more than 60% since the June 2018 NASDAQ listing and the weak stock price performance creates a compelling risk/reward profile. The current valuation of 5.4x 2020 EBITDA is attractive and...READ MORE

Media Industry Report: The Internet Takes Over The World

As we start 2020 and a new decade, we take look back the past decade and look forward toward what the future may hold for Media companies. According to several advertising prognosticators, Internet Media accounted for roughly 50% of total US advertising spend in 2019, more than triple from 15% just 10 years earlier. Incredibly, in a short 10 years, the Internet...READ MORE

Sierra Metals (SMTS): Plan to Return Capital in 2020 Highlights Confidence in Sustainable Free Cash Flow Growth

Returning capital to shareholders. The company’s Board of Directors has approved a plan to return up to US$30 million to shareholders in 2020. Sierra Metals intends to commence an issuer bid under which the company will offer to repurchase up to US$15 million of its...READ MORE

Comtech Telecommunications Corp. (CMTL): Troposcatter Award Bigger than We Thought

Troposcatter Award. Yesterday, Comtech issued a press release with additional details regarding the 10-year $325 million Marine troposcatter award won by its partner Cubic Corporation. Comtech was awarded $211 million under the contract to provide...READ MORE

Dyadic International Inc. (DYAI): Confidence in 2020 Outlook

Expanded research collaborations in Q4 2019. Dyadic expanded research collaboration with Zoonoses Anticipation and Preparedness Initiative (ZAPI) to express two additional proteins based on the preliminary results from animal studies. In addition, Dyadic entered into a new collaboration with a...READ MORE

Kratos Defense & Security (KTOS): Additional Contract Wins

New Drone Award. On January 7th, Kratos received a $6 million order for unmanned aerial target drone systems, and related ancillary and spares support equipment. The order comes on the heels of a successful test by the U.S. Air Force in shooting down one of Kratos's BQM-167 target drones in testing a...READ MORE

Energy Industry Report - Exploration and Production: 2019 Review and Outlook

End of a difficult year. Energy stocks rallied in the fourth quarter and ended the year up 1.8%, well underperforming the broad market. Weak results mirror the change in oil prices. Oil prices rose from $54 per barrel to $62/BBL in the fourth quarter in response to an improved global economic outlook and growing tension in the Middle East but...READ MORE

Ari Fleischer to Present at NobleCon16 Investor Conference

Investors and investment professionals converge each year on South Florida to attend the largest small-cap and micro-cap investment conference of its kind. This year, attendees may feel a bit like they’ve gone back in time and have found themselves at a press briefing in George W. Bush’s White House. Former White House Press Secretary Ari Fleischer will address the audience at...READ MORE

Cryptocurrencies May Drive Innovation in Global Payments Systems

While Bitcoin was released in 2009 and is considered by many to be the first decentralized cryptocurrency, others have followed including Tether, Ethereum, Litecoin and others. Mass-market adoption has been hindered, in part, by their volatility which has made them poor stores of value and...READ MORE

Great Panther Mining Limited (GPL): Prepayment Agreements Enhance Liquidity and Underscore Operational Confidence

Prepayment agreements enhances financial flexibility. Great Panther announced prepayment agreements with affiliates of IXM Group and Samsung amounting to $21.25 million in aggregate. The proceeds will enhance Great Panther's liquidity and...READ MORE

Minerals Industry Report: Metals & Mining 2019 Review and Outlook

Will strength build in 2020? In 2019, mining companies (as measured by the XME) appreciated 11.8% compared to 28.9% for the broader market as measured by the S&P 500 index. During the fourth quarter, the XME outpaced the broader market and rose 15.1% versus 8.5% for the S&P 500. For the full year, gold and...READ MORE

Can Algorithmic Trading Continue to Expand?

The use of algorithmic robots to trade stocks has grown rapidly in recent years. Algorithmic trading refers to transactions that allow investors to establish specific trading rules that are automatically executed by computer. A report by Trading Type estimates that the global algorithmic trading market will increase by 11% annually between 2019-2024 reaching a level of...READ MORE

Should investors switch to an underperforming sector?

It’s been a good run for growth sectors and indicators remain favorable, but things can change quickly. 2019 was another good year for the stock market with most major indices (DJIA, SP500, Russell 2000) up 25-30% entering the last week of the year. Almost all market subsectors reported strong results in...READ MORE

The Nine Lives Investment Professionals Need to Survive the New Decade?

Money management in the coming decade is setting up to be far different than at any time in the past. This shouldn’t be a concern, change is natural. All industries go through waves of being reshaped, reinvented, and sometimes made obsolete. The main drivers of change to most industries are technology, demographic shifts, regulation, and...READ MORE

Space Force Will Require Emerging Technologies - Emerging Growth Companies in Various Sectors may Soar

U.S. President Donald Trump’s signature this past Saturday (December 20, 2019) on the National Defense Authorization Act (NDAA) for the Fiscal Year 2020 was historic. The bill creates the U.S. Space Force. The new military service is the first...READ MORE