Gold prices steady ahead of Fed decision; weekly weakness noted
David Granot, a director at Ormat Technologies, Inc. (NYSE:ORA), sold a portion of his holdings in the company earlier this week. According to a recent SEC filing, Granot disposed of 1,666 shares of Ormat Technologies’ common stock on March 3, 2025. The shares were sold at a price of $69 each, amounting to a total transaction value of $114,954.
Following this sale, Granot retains ownership of 1,910 shares in the company. The transaction was conducted in the open market, as noted in the filing. Ormat Technologies, based in Reno, Nevada, is a prominent player in the electric services industry, with a market capitalization of $4.16 billion. InvestingPro data reveals the company has maintained dividend payments for 21 consecutive years, demonstrating consistent shareholder returns. Get access to 12+ additional exclusive InvestingPro Tips and comprehensive analysis in the Pro Research Report.
In other recent news, Ormat Technologies Inc reported its fourth-quarter 2024 financial results, revealing an earnings per share (EPS) of $0.72, significantly surpassing the forecast of $0.51. Despite this strong EPS performance, the company’s revenue of $230.7 million fell short of the expected $236.45 million. The earnings announcement reflected positively on Ormat’s stock, which saw an increase in premarket trading. The company also emphasized its focus on project expansion and exploration as key drivers for future growth.
Meanwhile, Aura Minerals provided updates on its operations, highlighting a record high revenue of $594 million for 2024. The company achieved a net income of $17 million in the fourth quarter, reversing previous losses attributed to non-cash losses related to gold hedges. Aura’s cash position improved significantly, closing at $270 million by the end of the year. The firm also declared ongoing quarterly dividends of $0.25 per share, reinforcing its commitment to shareholder returns.
Analyst discussions during Aura’s earnings call focused on liquidity and capital allocation strategies, with the company addressing concerns about gold price sustainability and exploration plans. Rodrigo Barbosa, CEO of Aura Minerals, noted the company’s efforts to maintain strong safety standards and operational excellence. These recent developments underscore the company’s strategic focus on growth and financial stability.
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