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Wed, Feb. 3, 5:33 PM
- Mining companies that have been hit hard by weakening Chinese demand surged the most in five months today, as a rally in metal prices signaled production cuts are starting to pay off, Bloomberg reports.
- Newmont Mining (NEM +11.3%), Freeport McMoRan (FCX +11.2%) and First Quantum Minerals (OTCPK:FQVLF +16.6%) all gained at least 11% today in leading the Bloomberg Americas Mining Index to a 7% surge and its biggest increase since August.
- Gold futures broke above their 200-day MA for the first time since October, and zinc, copper, aluminum, nickel, lead and tin all gained, helped by the outlook for tighter supplies and a plunge in the dollar.
- In today's trade: ABX +8.8%, GG +10.2%, AEM +5.5%, SLW +8.7%, KGC +10.3%, NG +6.6%, AU +9.6%, FNV +7%, GFI +8.5%, HMY +5.1%, SBGL +6.1%, IAG +9.6%, GOLD +3.6%, EGO +8.3%.
- ETFs: GLD, GDX, NUGT, IAU, GGN, DUST, PHYS, SGOL, UGL, GLDX, DGP, GTU, GLL, JJC, UGLD, DZZ, DBB, SGDM, ASA, OUNZ, DGL, DGZ, RING, DGLD, JJN, PSAU, JJU, TGLDX, CPER, UBG, JJT, BOM, RJZ, BOS, FOIL
Thu, Jan. 7, 6:38 PM
- Gold and silver miners are the lone rose growing in this week's stock market garbage heap, as the out-of-favor group responds to the highest gold prices in two months amid the flight to perceived safe havens.
- China’s move to devalue its currency at once stokes worries that growth in the world’s no. 2 economy is more sluggish than feared and that other Asian countries will retaliate with devaluations of their own to keep exports competitive, which could bode well for further gold price upside.
- This week's results so far for top precious metals miners: HMY +53.7%, ABX +18.4%, IAG +14.3%, AEM +14.1%, GFI +13.2%, AUY +12.9%, SBGL +12.8%, AU +11.2%, EGO +10.8%, GG +10.1%, KGC +9.9%, FNV +7.9%, GOLD +6.1%, NEM +4.9%, SLW +4.6%.
- ETFs: GDX, NUGT, GGN, DUST, SIL, GLDX, SGDM, ASA, SLVP, RING, PSAU, TGLDX, PICK, GDXS, GDXX
Oct. 28, 2015, 5:14 PM
- Agnico Eagle (NYSE:AEM): Q3 EPS of $0.18 beats by $0.16.
- Revenue of $508.8M (+9.8% Y/Y) beats by $29.83M.
Oct. 27, 2015, 5:35 PM
- ABX, ACGL, AEM, AF, AFFX, AFOP, AMGN, ANIK, AR, ARII, ARRS, ASGN, ATML, BANC, BLKB, BWLD, CACI, CAVM, CBL, CGI, CHDN, CLI, CMO, CMPR, CNL, CNO, CNW, CRUS, CSGP, CW, CWT, DRE, DYAX, ECHO, ELLI, EPR, EQIX, EQY, ESIO, ESRT, ESV, EXR, FFIV, FMC, FORM, FORR, FR, GPRO, HBI, HLS, HOS, HT, HUBG, HY, INT, INVN, ISIL, KEX, KRA, KS, LNC, LOCK, LOPE, MAA, MANT, MAR, MC, MEOH, MMLP, MTGE, MTW, MUR, NE, NEM, NGD, NSIT, NTRI, NVDQ, NXPI, O, OCN, OGS, OII, ORLY, OTEX, PLXS, PPC, PRXL, PSA, PTC, QDEL, QEP, QGEN, QUIK, REG, ROG, ROVI, RRC, SCI, SGI, SGMO, SIMO, SPN, SPRT, SPWR, SSS, STAA, SU, TAL, THG, THRX, TILE, TLLP, TSO, TTMI, UNM, VAR, VECO, VRTX, WDC, WES, WGP, WLL, WMB, WSTL, WTS, YELP
Oct. 14, 2015, 2:26 PM
- Gold settles at three-and-a-half month highs, rallying $14.50 (+1.2%) to $1180/oz., as soft U.S. economic data and concerns over deflationary pressures in China add to expectations the Fed will delay any interest rate increases.
- Gold is gaining more ground in electronic trading after the Fed Beige Book release.
- The yellow metal's eighth gain in nine sessions has sent the SPDR Gold Trust ETF (GLD +1.5%) past its 200-day moving average, and gold miners have ripped higher, as evidenced by this month's 18% gain in the Market Vectors Gold Miners ETF (GDX +5.6%).
- Top mining stocks including Barrick Gold (ABX +7.9%), Goldcorp (GG +8.5%), Kinross Gold (KGC +8.3%), Gold Fields (GFI +5.4%), Newmont Mining (NEM +5.4%), Agnico Eagle Mines (AEM +5.7%), Silver Wheaton (SLW +6.8%), Yamana Gold (AUY +6.7%), Franco Nevada (FNV +5%), Randgold (GOLD +4.8%) and AngloGold (AU +5.6%) are all sharply higher.
- Other ETFs: NUGT, AGQ, GGN, DUST, SIL, USLV, ZSL, UGL, GLDX, DGP, GLL, UGLD, DZZ, SLVO, GLDI, SGDM, DSLV, ASA, SLVP, DGL, DBS, DGZ, RING, DGLD, PSAU, USV, TGLDX, GEUR, UBG, GYEN
Sep. 25, 2015, 5:40 PM
Sep. 16, 2015, 3:45 PM
- Newmont Mining's (NEM +5.8%) stock price target is lowered to $22 from $24 by RBC analysts on the back of downward revisions to base metal price assumptions, including a ~15% reduction to the firm's 2015-19 average copper price assumptions.
- NEM has significant leverage to copper prices through its Batu Hijau, Boddington and Phoenix mines, prompting the firm to reduce its EPS and cash flow/share estimates.
- But for today at least, shares of gold miners are surging, following gold prices higher as optimism grows that the Fed will not raise rates tomorrow: ABX +7%, KGC +9.2%, GG +5.3%, AEM +6.9%, GFI +3%, SBGL +2.4%, FNV +4.7%, NGD +7.1%, AUY +9.1%, IAG +7.6%, BTG +4.1%, EGO +9.7%, SLW +7.1%.
Sep. 2, 2015, 5:48 PM
- Lower copper prices could mean trouble for some gold miners, including Barrick Gold (NYSE:ABX), Newmont Mining (NYSE:NEM), New Gold (NYSEMKT:NGD) and Buenaventura (NYSE:BVN), J.P. Morgan analysts warn.
- Gold has been under pressure but nevertheless shows relative strength, the firm says, while "perversely, copper had its own semi-investment demand when it was used for collateral lending, but if this category of demand falls away, prices could be weaker."
- JPM likes Goldcorp (NYSE:GG) and Agnico Eagle Mines (NYSE:AEM) for their production pipeline, but it cuts targets for ABX, NEM and BVN by a respective 14%, 15% and 20% due in part to their exposure to copper by-product credits.
Aug. 12, 2015, 7:49 PM
- Agnico Eagle Mines (NYSE:AEM) is considering bringing in partners and selling "prudent measures” of stock to help finance projects, CFO David Smith says.
- While Smith says an equity issuance could be an option, the 23% drop in the company’s stock over the past year leaves share sales as a less-preferred option.
- The CFO says AEM does not plan to close any mines since they are generating operating profit, he does not expect “drastic” cost-cutting at the operational level, and the Amaruq and Meliadine mines in northern Canada and its El Barqueno project in Mexico are the company's top priorities.
Aug. 12, 2015, 11:29 AM
- China’s currency devaluation is welcome news for gold stocks such as Newmont Mining (NEM +5.2%), Agnico Eagle Mines (AEM +8.1%), Coeur Mining (CDE +13.9%) and Gold Resource (GORO +2.5%), Sterne Agee CRT analysts say.
- China's move should help gold and silver prices through risk-off investor diversification and heightened investment attention, especially from Chinese investors looking to protect purchasing power, and fragile global economic growth prospects highlighted by China’s struggles could delay any meaningful U.S. rate increases, the firm says.
- With investor sentiment still skeptical, the supportive macro news flow could provide fuel for a rally in gold mining equities, the firm says, preferring Buy-rated NEM, AEM, CDE and GORO; Barrick Gold (ABX +3.9%) is rated Neutral.
Jul. 29, 2015, 5:54 PM
- Agnico Eagle (NYSE:AEM): Q1 EPS of $0.09 in-line.
- Revenue of $510.1M (+16.5% Y/Y) beats by $10.22M.
Jul. 28, 2015, 5:35 PM
- ACGL, AEGN, AEL, AEM, AFFX, ALGT, ANIK, AR, ARII, ARRS, ASGN, ASH, ATW, BANC, BAX, BKCC, BLKB, BXP, CAVM, CBL, CEMP, CGI, CHDN, CHMT, CLD, CMO, CMPR, CNO, CNW, CROX, CSGP, CW, CWT, CXO, DDR, DOX, DRE, DYAX, EHTH, ELY, EQIX, EQY, ESRT, ESV, EXR, FARO, FB, FBP, FICO, FISV, FMI, FNF, FOE, FORM, FORR, HLS, HOLX, HOS, HY, IPCM, ISIL, IXYS, KEG, KEX, KGC, KRA, KRG, KS, LNC, LOCK, LPSN, LRCX, MAA, MANT, MAR, MC, MCK, MDAS, MEOH, MET, MMLP, MTGE, MTW, MUR, NBIX, NE, NOW, NSIT, NTRI, NXPI, O, OGS, OI, ORLY, OTEX, PDM, PEGA, PEIX, PPC, PSA, PTC, PVA, QGEN, QUIK, RKUS, ROG, RRTS, SBAC, SCI, SCTY, SFLY, SGMO, SKX, SPRT, SSNC, SSS, STAA, SU, TAL, TER, THG, THRM, THRX, TILE, TTEK, UNM, VAR, VGR, VNDA, VRTX, WDC, WES, WFM, WGP, WLL, WMB, WMGI, WSTL, WTS, WYNN
Jul. 20, 2015, 10:39 AM
- Several gold miner stocks strike new 52-week lows in early trading, as gold prices plunge below $1,100/oz. overnight and adding pressure to a sector that already faces razor-thin margins.
- Investors have turned sharply negative on gold as the U.S. dollar rises ahead of a likely rise in interest rates, and a report out of China shows lower than expected holdings of the metal.
- While most senior gold miners can generate decent margins at $1,100 gold, many small and mid-tier producers are underwater at the price, and some of the seniors are struggling with heavy debt.
- Hitting new 52-week lows today: ABX -9.3%, GG -7.7%, GFI -10.7%, KGC -9.4%, AGI -6.6%, AU -9.7%, SBGL -7.8%, BTG -9.3%, EGO -2.9%, NGD -8%, AUY -8.8%, RGLD -8.2%, FNV -6.8%, SLW -5%.
- Also lower: NEM -9.4%, AEM -7.9%, NG -7%, GOLD -4.8%, IAG -5.1%, HL -5.4%.
- ETFs: GDX, NUGT, GDXJ, GGN, DUST, SIL, JNUG, GLDX, JDST, SGDM, ASA, SLVP, SILJ, RING, JUNR, PSAU, TGLDX, GDJJ, GDXS, GDXX, GDJS
Jul. 20, 2015, 9:14 AM
Jul. 17, 2015, 2:58 PM
- Barrick Gold (ABX -4.9%) sinks to 24-year lows in Toronto trading, leading a rout among bullion miners as the yellow metal extends its selloff to five-year lows.
- ABX is under particular pressure, as the fall in gold casts doubt on the company’s strategy of shedding assets to pay down its $12.9B debt, as it "becomes harder and harder to sell those assets at any kind of reasonable value if metal prices are unwinding," Macquarie analyst Ron Stewart says.
- ABX reportedly is nearing a deal to sell its Zaldivar copper mine in Chile, and is looking for buyers for its 50% stake in its Kalgoorlie mine, among other properties.
- NEM -2.6%, GG -5.7%, GFI -1.1%, KGC -5.2%, AEM -5.1%, NG -2.2%, AGI -6.6%, AU -5.7%, GOLD -2.5%, SBGL -4.2%, BTG -6.4%, IAG -7.6%, EGO -7.6%, HL -3.5%, NGD -8.4%, AUY -2.9%, RGLD -2.9%, FNV -3.6%, SLW -3.3%.
- ETFs: GDX, NUGT, GGN, DUST, SIL, GLDX, SGDM, ASA, SLVP, RING, PSAU, TGLDX, GDXS, GDXX
Jun. 16, 2015, 6:19 AM
- Agnico Eagle Mines (NYSE:AEM) rated new Market Perform, price-target $35.
- Yamana Gold (NYSE:AUY) rated new Market Perform, price-target $3.75.
- Goldcorp (NYSE:GG) rated new Outperform, price-target $22.
- Barrick Gold (NYSE:ABX) rated new Outperform, price-target $16.
- Kinross Gold (NYSE:KGC) rated new Market Perform, price-target $2.75.
- Eldorado Gold (NYSE:EGO) rated new Market Perform, price-target C$6.00.
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