May 19, 2020

Investing: 3 silver stocks to watch for

Jhonny Edward
2 min
Investing: 3 silver stocks to watch for

Gold may be the king of metals but this week silver is shining through. The yellow metal hit a five-year low on Monday, forcing investors to pull away and reconsider other precious metals. Prices for gold dropped all the way to $1,080.00 an ounce -- its lowest levels since February 2010 --- before rebounding to trade above $1,100.

“We expect further losses in gold,” Commerzbank analyst Daniel Briesemann said. “Gold prices are falling against the weaker dollar, declining equity markets -- those are clearly bad signs. Everything speaks against rising gold prices.”

While gold continues to crash and burn, we examine three stocks in silver that investors should watch out for.

Hecla Mining Company (NYSE:HL)

Hecla Mining produced roughly 11 million ounces of the metal in 2014 and expects to produce around 10.5 million ounces in 2015, according to Mining Global.

• Related content: French venture capitalists look to the US for inspiration and innovation

Shares for the company have been on the rise and the short term target price has been estimated at $3.17. Many sources believe the target price for the stock could hit as high as $4.

According to the American Trade Journal, shares for Helca Mining rose 6.76 percent on Tuesday and made it ways into the gainers of the day.

Coeur Mining Inc (NYSE:CDE)

Precious metals miner Coeur Mining is an intriguing choice for investors right now as the company’s stock rose 3.87 percent on Tuesday. After starting at $4.18 the stock hit $4.355 as a peak level and $4.16 as the lowest level, settling at $4.28.

• Related content: Stocks: Gold plunges to five-year low

According to the American Trade Journal, the daily volume was measured at 3,115,253 shares. The 52-week high of the share price for Coeur Mining is $8.94 and the 52-week low is $3.37. The company has a market cap of $588 million.

First Majestic Silver Corp (NYSE:AG)

First Majestic Silver is garnering a lot of attention lately as the stock received a short term price target of $6.44, including estimates going as high as $7. On Tuesday, stock for the company rose 4.35 percent, opening trading at $3.9 before hitting $4.01 as a peak level and $3.77 as the lowest level.

According to the Insider Trading Report, the 50-day moving average for the stock is $4.82 and the 200 day moving average is recorded at $5.38. S&P 500 has rallied 7.3 percent during the last 52-weeks.

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Jun 8, 2021

Six issues at the top of tax and finance leaders’ agenda

Kate Birch
4 min
As businesses accelerate their transformation journeys, tax leaders are under increasing pressure to add strategic value. Deloitte reveals six tax trends

New Deloitte research reveals that tax leaders are under increasing pressure to add strategic value as companies accelerate business model transformation, from undergoing digital transformations to rethinking their supply chains or investing in green initiatives.

According to Phil Mills, Deloitte Global Tax & Legal Leader, to “truly deliver value to the business, the tax function needs to rethink its resourcing model and transform its technology infrastructure to create capacity and control costs”.

And the good news, according to Mills, is that tax and business leaders have more options at their disposal to achieve this.

Reflecting the insights of global tax and finance executives at global companies, Deloitte’s Tax Operations in Focus study reveals the six issues at the top of tax and finance leaders’ agenda.

Trend 1: Businesses seek more strategic counsel from tax

Companies are being pushed to develop new digital products and distribution channels and accelerate sustainable transformation and this is taking them into uncharted tax territory. Tax leaders say their teams must have the resources and skills to give deeper advisory support on digital business models (65%), supply chain restructuring (49%) and sustainability (48%) over the next two years. This means redrawing the boundaries of what tax professionals focus on, and accelerating adoption of advanced technologies and lower-cost resourcing models to meet compliance requirements and free up time.

According to Joanne Walker, Group Tax Director, BT Group PLC, "There’s still a heavy compliance load today, but the vision for the future would be that much of that falls away, and tax people become subject matter experts who help program the machine, ensure quality control, and redirect their time to advisory activity.”

Trend 2: Tipping point for resourcing models

Business partnering demands in the tax department are on the rise, but 93% of tax leaders say their department’s budget is remaining flat or falling. To ensure that the tax function can redefine itself as a strategic function at the pace that is required, leaders are choosing to move increasing amounts of compliance and reporting to a combination of shared service centers, finance departments, and outsourcing providers that have invested in best-in-class technology.

Trend 3: Digital tax administration is moving faster than expected

in addition to the rising focus of the corporate tax department partnering with their business counterparts, transformative changes to the way companies share tax information with revenue authorities is also creating an imperative to modernize operations at a faster pace. Nine in 10 (92%) respondents say that shifting revenue authority demands on digital tax administration will have a moderate or high impact on tax operations and resources over the next five years—and several heads of tax said the trend is moving faster than expected.

"It’s really stepped up in the last couple of years," says Anna Elphick, VP Tax, Unilever. "Tax authorities don't just want a faster turnaround for compliance but access into a company’s systems. It's not unreasonable to think that in a much shorter time than we expect, compliance will be about companies reviewing a return that's been drafted by the tax authorities."

Trend 4: Data simplification and lower-cost resourcing are top priorities

Tax leaders said that simplifying data management (53%) and moving to lower-cost resourcing models (51%) must be prioritized if tax is to become more proactive at delivering strategic insights to the business. Many tax teams are ensuring that they have a seat at the table as ERP systems are overhauled, which is paying dividends: 56% of those that have introduced NextGen ERP systems are now highly effective at supporting the business with scenario-modeling insights. Only 35% of those with moderate to low use of NextGen ERP systems said the same.

At Stryker, “we automated the source P&L process for transfer pricing which took a huge burden off of the divisions," says David Furgason, Vice President Tax. "Then we created a transfer price database to deposit and retrieve data so we have limited impact on the divisions. We are moving to a single ERP platform which will help us make take the next step with robotics.”

Trend 5: Skillsets are shifting

Embedding a new data infrastructure and redesigning processes are critical for the future tax vision. Tax leaders are aligned — data skills (45%) and technology process experience (43%) are ‘must have’ skills in a tax department of the future, but more traditional tax specialist knowledge also remains key (40%). The trick to success will be in tax leaders facilitating the way these professionals, with their different backgrounds, can work together collectively to unlock lasting value.

Take Infineon Technologies, which formed a VAT technology and governance group "that has the right knowledge about how to change the system to ensure it generates the right reports", according to Matthias Schubert, Global Head of Tax. "Involving them early was key as we took a greenfield approach, so we could think about what the optimal processes would look like and how more intelligent systems could make an impact 

Trend 6: 2020 brought productivity improvements

Improved productivity (50%) and accelerating shifts to remote working (48%) were cited as the biggest operational benefits to emerge from COVID-19-driven disruption. But, as 78% of leaders now plan to embed either hybrid or fully remote models in the tax function long term, 34% say maintaining productivity benefits is a top concern. And, as leaders think about building their talent pipeline and strengthening advisory skill sets, 47% say they must prioritize new approaches to talent recognition and career development over the next two years, while 36% say new processes for involving tax in business strategy decisions must be established.

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