On Wednesday, Shares of First Majestic Silver Corp (NYSE:AG), subtract -3.24% and closed at $8.65 in the last trading session. The last trading range of the stock ranges between $8.33 and $9.14. The company’s Market capitalization is $1.46 Billion with the total Outstanding Shares of 156.51 million. First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver projects in Mexico. The company owns and operates six silver producing mines, counting the La Encantada Mine, La Parrilla Mine, Del Toro Mine, San Martin Mine, La Guitarra Mine, and Santa Elena Mine. It also holds interests in the Plomosas silver project situated in Sinaloa State; La Luz silver project located in San Luis Potosi State; and Jalisco group of properties located in various mining districts in Jalisco, Mexico. The company was formerly known as First Majestic Resource Corp. and changed its name to First Majestic Silver Corp.
KBR, Inc. (NYSE:KBR), jumped 12.55% and closed at $15.87 in the last trading session. The last trading range of the stock ranges between $14.36 and $15.93. The company’s Market capitalization is $2.34 Billion with the total Outstanding Shares of 142.48 million. KBR, Inc. (KBR) declared recently that the Company has updated earnings guidance for 2016 to reflect expected increases in costs to complete engineering, procurement and construction (“EPC”) projects.
The majority of the cost increases relate to an EPC project for an electric power-generating facility within our Non-planned business segment. As formerly declared, the Company intends to exit the fixed priced EPC business for new power projects and this project is the last within the Company’s backlog of unfilled orders. The raised forecast costs are mainly driven by subcontractor cost increases because of recent poor productivity, plan delay and changes in execution strategy. These costs stem from the impact of poor performance by the turbine supplier which continues to adversely impact construction progress. The project is about 86% complete as of September 30, 2016 with anticipated completion in the first half of 2017.
An EPC ammonia project in the Company’s Engineering & Construction business segment has continued to experience unforeseen costs during startup and commissioning related to mechanical failures of a vendor-supplied compressor and pumps. These issues have further delayed expected completion of the project to October 2016 resulting in raised construction and repair costs and the recognition of contractual liquidated damages. This project is in the final stages of completion and start-up in anticipation of performance testing.
The amount of the expected cost increases is about $130 million on a pretax basis (EPS $0.91). We intend to seek compensation from vendors on both projects but, at this time, have not assumed any recovery in the financial results. As a result, KBR is revising full-year earnings guidance for 2016 EPS to a range of $0.30 to $0.50 per diluted share from the prior range of $1.20 to $1.45 per share apart from legal costs associated with legacy U.S. Government contracts. KBR anticipates the legacy legal costs to be about $15 million, or $0.11 per fully diluted share in 2016.
Superior Energy Services, Inc. (NYSE:SPN), gained 4.86% and closed at $18.55 in the last trading session. The last trading range of the stock ranges between $18.11 and $18.98. During the 52-week trading session the minimum price at which share price traded, registered at $8.25 and reached to max level of $19.83. Superior Energy Services, Inc. (SPN) declared recently that it will release its third quarter 2016 results on Monday, October 24, 2016 after the market closes. In conjunction with the release, the Company has planned a conference call, which will be broadcast live over the Internet, on Tuesday, October 25, 2016 at 11:00 a.m. Eastern time. Shareholders may take part either by phone or audio webcast.