Century Aluminum: In the Realm of Metal
Century Aluminum Company announced fourth-quarter and full-year 2023 financial results. The quarter saw an ending cash balance of $88.8 million, strong liquidity of $312.5 million, and a significant $59.3 million credit from the Inflation Reduction Act. For the full year, Century’s net sales reached $2.2 billion, despite a net loss of $43.1 million ($0.47 per share), but achieved an adjusted net income of $30.7 million ($0.33 per share). The year 2023 also marked significant milestones including the acquisition of a 55% stake in Jamalco, a new power agreement for Mt. Holly, and a five-year union labor contract for the Sebree smelter.
Gold Fields: Navigating Financial Terrain
Gold Fields reported that favorable exchange rates and a strong gold price led to steady normalized earnings of $900 million and free cash flow from operations of $1,002 million in full-year 2023. However, the company reported three fatalities, underlining the importance of improving safety amidst financial achievements.
Coeur Mining, Inc.: Unveiling Rich Mining Conquests
Coeur Mining announced fourth-quarter and full-year 2023 financial results, marking a 35% revenue increase and a more-than-doubling of adjusted EBITDA in Q4. The company met its full-year gold and silver production guidance for 2023, with significant boosts in production and extraordinary cost reductions anticipated at several mining sites. Additionally, drilling in the Southern Silver Zone at Silvertip uncovered one of the highest-grade intercepts ever, elevating the significance of the mining venture.
Kaiser Aluminum Corporation: Forging Fortunes
Kaiser Aluminum Corporation reported fourth-quarter and full-year 2023 financial results, with net sales reaching $3.1 billion for the full year. The Aerospace/High Strength sectors achieved record net sales and conversion revenue during this period. The company maintained strong liquidity, with $599 million as of December 31, 2023, demonstrating resilience and financial stability in the ever-fluctuating market.