Endesa 9-Month Results Improve; Backs Annual Ordinary Net Profit Outlook

Endesa reported Q3 2026 earnings with EBITDA of €1.3B, down 12% YoY, and net income of €492M, down 27% YoY but 4% above consensus. The company maintained its full-year net income guidance of over €2.4B. Renewables and conventional generation EBITDA declined, while customers and networks divisions showed growth. Net debt rose 9% QoQ to €11.2B.

Elemental Royalty Corporation (ELE) completed the acquisition of four royalty and streaming assets from Orion Mine Finance, paying US$188M and issuing 3.9M shares. The company also expanded its credit facility to US$250M with an option to increase to US$300M. Recent updates on acquired assets show potential for growth, including increased production estimates and ongoing exploration. The company trades on NASDAQ and TSX under the ticker ELE.

Elemental Royalty Corp (ELE) completed an $188M acquisition of four assets from Orion, paying cash and issuing shares. The deal includes Ruby Hill, Granite Creek, Kouroussa, and La Negra. ELE's shares outstanding increased to 76.47M. A fifth asset, Snowy River, may close in Q1 2027. ELE also expanded its credit facility to $250M with a 3-year term. Operators of acquired assets provided updates on their projects.

Elemental Royalty Corporation (ELE) completed the acquisition of four mining assets from Orion Mine Finance, with a fifth expected to close in Q1 2027. The acquired assets include Ruby Hill, Granite Creek, Kouroussa, Homestake, and La Negra. Elemental also expanded its credit facility to US$150 million. Updates on the assets include i-80 Gold's (IAU) development plan and Silverco Mining's (SVCO) production increase at La Negra.

Mining executives discussed their strategies at the Precious Metals Summit. Elemental Royalty (ELE) announced a $290M acquisition, First Majestic Silver (AG) outlined succession plans, and Heliostar Metals (HSTR) detailed its Ana Paula gold mine project. Gold prices have fallen 18% since January, testing these plans. Each company aims to grow while improving returns per share.

Elemental Royalty (ELE) agreed to acquire five streams and royalties for $290M, including $200M in cash and $90M in shares. Three assets generate cash flow, with expected additional 1,500 GEOs in 2026. The deal is expected to close in Q4 2026, with Snowy River potentially closing in Q1 2027. ELE's Q2 revenue was $23.8M, with $15.5M in operating cash flow. The acquisition may expand cash generation but comes with financing and dilution risks.