Agnico-Eagle: Trying To Soar While Facing Strong Headwinds
Thu, Jul. 21, 12:58 PM
- Agnico Eagle Mines (AEM +1.9%) says a group of armed men stormed its La India mine in northern Mexico yesterday, stealing a cache of silver and gold.
- AEM’s Mexican subsidiary does not provide an estimate of the value of the theft, but says the mine in the Sonora state - known for drug violence - is operating normally.
- The La India mine has a lifespan of seven years and is expected to produce 100K oz. of gold in 2016.
Fri, Jun. 24, 9:11 AM
- Gainers: AAU +20%. VGZ +18%. MUX +13%. AKG +12%. GPL +13%. GORO +12%. GFI +12%. EMES +12%. GOLD +12%. AU +12%. SBGL +11%. EXK +11%. KGC +10%. HMY +11%. SAND +10%. ABX +10%. EGO +9%. SA +7%. IAG +9%. AUY +9%. CDE 9%. NGD 9%. AEM 8%. NEM 8%. GG 8%. NG 8%. FSM 7%.
- Losers: LYG -27%. BCS -26%. SAN -24%. RBS -23%. AV -23%. BBVA -22%. DB -18%. ING -18%. BT -18%. VNR -11%. TEF -17%. CS -16%. PUK -15%. MT -15%. AEG -14%. RYAAY -13%. UBS -12%. FCAU -12%. GNCA -12%. NOK -12%. BBL -11%. IPI -11%. TOT -11%. ANFI -11%. MNKD -10%. BCEI -8%. VMEM -10%.
Fri, Jun. 24, 8:48 AM
- While stock futures remain under tremendous pressure following the Brexit vote, gold miner shares are soaring in premarket action, as the added uncertainty in the global economy sparks a surge in gold prices.
- The Gold Miners ETF (NYSEARCA:GDX) +9.5% premarket, putting it on course to open at the highest level since July 2014; among GDX's components, Newmont Mining +7.7% toward a three-year high even though NEM derived 64.1% of its revenue over the last 12 months from the U.K., according to FactSet.
- Among other GDX members, Goldcorp (NYSE:GG) +7.5%, Barrick Gold (NYSE:ABX) +9.6% and Yamana Gold (NYSE:AUY) +7.2%.
- Also premarket: KGC +8.9%, GOLD +11.6%, GFI +11.8%, RGLD +10.6%, HMY +11%, SBGL +12.4%, AEM +8.4%, SLW +5.6%, PAAS +6.1%, EGO +8.3%, NG +8.9%, IAG +8.4%, FNV +5%.
- ETFs: GDX, NUGT, GGN, DUST, SIL, GLDX, SGDM, ASA, SLVP, RING, PSAU, TGLDX, GDXX, GDXS
Mon, Jun. 20, 10:22 AM
- Gold futures -0.8% at ~$1,284/oz. after weekend polls showed a higher likelihood that the U.K. would vote to stay in the European Union.
- “This is a market that’s going to be very emotional this week” ahead of the June 23 referendum, says Peter Hug, global trading director at Kitco Metals, who believes that broader economic concerns and low interest rates will continue to support gold prices regardless of the Brexit outcome.
- Gold has risen 21% YTD amid worries over global growth and as the Fed has pushed back plans to raise short-term interest rates.
- Precious metals miners are among the biggest losers in early trading: ABX -3.8%, GG -2.4%, NEM -2.5%, AEM -1.6%, KGC -4.4%, SLW -1.7%, PAAS -2.7%, RGLD -0.8%, EGO -1.4%, NG -1.6%, GFI -4.8%, AUY -1.4%, IAG -1.8%, FNV -1%, HMY -2.3%, SBGL -2.6%, OTCPK:NCMGY -5%.
- ETFs: GLD, SLV, GDX, NUGT, IAU, AGQ, GGN, DUST, PSLV, SIL, PHYS, USLV, SIVR, SGOL, ZSL, GLDX, UGL, DGP, GTU, UGLD, GLL, DZZ, SLVO, SGDM, GLDI, ASA, DSLV, OUNZ, SLVP, DGL, RING, DBS, DGZ, DGLD, PSAU, TGLDX, GYEN, USV, GEUR, UBG
Fri, Jun. 3, 3:58 PM
- Gold miner stocks are skyrocketing, with the sector enjoying its best day in nearly seven years, as the disappointing May jobs report helped spark a strong rally in the yellow metal.
- The VanEck Vectors Gold Miners ETF (GDX +11.1%) surged more than 10% on heavy volume, and all 24 of the ETF’s U.S. equity components traded higher, with 10 of them enjoying double-digit percentage gains.
- In today's trade: ABX +12.9%, NEM +9.5%, GG +7.7%, AEM +11.1%, OTCPK:NCMGY +10.7%, KGC +15.4%, SLW +9%, FNV +9.1%, RGLD +9.4%, EGO +9.8%, GFI +13.7%, SBGL +8.2%, HMY +13%, IAG +16.4%, AU +14.4%, GOLD +8.6%, AUY +13.9%, NGD +9.6%, HL +12.1%, CDE +11.6%, TAHO +10.8%, NG +12.2%, AG +12.3%, PAAS +8.9%.
- ETFs: GDX, NUGT, GDXJ, GGN, DUST, SIL, JNUG, GLDX, JDST, SGDM, ASA, SLVP, RING, PSAU, SGDJ, TGLDX, GDXX, GDJJ, GDXS, GDJS
Mon, Apr. 11, 12:39 PM
- Gold miners are surging amid higher gold prices and a positive research note from RBC Capital, as the Market Vectors Gold Miners ETF (GDX +4.9%) powers higher with all 39 of its equity components rising.
- Kinross Gold (KGC +6.9%) and AngloGold Ashanti (AU +4.9%) are upgraded to Outperform at RBC, citing valuation amid an increase in the firm's 2016 gold price outlook to $1,250/oz. from $1,150; the firm says KGC's production profile has improved with the 2015 acquisition of mines from Barrick Gold (ABX +5.6%) and the planned Tasiast expansion, while AU represents the most robust opportunity in its South African coverage, supported by a diverse, low cost asset portfolio.
- Goldcorp (GG +3.8%) is sharply higher despite RBC's downgrade to Underperform, as the firm believes shares trade at a significant premium to Tier 1 peers and management needs to re-establish investor confidence in operations and strategy.
- Also: NEM +5.7%, AEM +4.9%, FNV +2.9%, HMY +3.8%, EGO +7.9%, NG +7.6%, HL +4.4%, GFI +3.1%, GOLD +1.7%, SBGL +6%, SLW +4.2%.
- Other ETFs: NUGT, GGN, DUST, SIL, GLDX, SGDM, ASA, SLVP, RING, PSAU, TGLDX, GDXX, GDXS
- Now read Kinross Gold: Analyst estimates following the news on Tasiast mine expansion
Tue, Feb. 16, 3:49 PM
- Gold prices tumbled to their sharpest single-session loss since March 2015, based on most-active contracts, as investors turned more optimistic on the global economy after stock markets rallied and the European Central Bank said it stood ready to boost stimulus measures if needed.
- Adding to gold's decline was a report from Goldman Sachs commodities chief Jeffrey Currie, who said it is time to bet against the traditional safe haven as investor fears are overdone and do not justify the recent rally.
- "On net, fears around China, oil and negative interest rates have likely been overstated in the gold price and other financial markets," Currie says, doubling down on an earlier prediction that gold will slump to $1,100/oz. in three months and $1,000/oz. in 12 months.
- ABX -5.2%, NEM -5.1%, GG -5.5%, AEM -4.1%, SLW -2.9%, KGC -9.5%, NG -5.8%, AU -10.1%, FNV -3.8%, GFI -10.7%, HMY -5.3%, SBGL -11.6%, IAG -10.7%, GOLD -6.5%, EGO -10.5%, AUY -7.1%, HL -7.7%.
- ETFs: GLD, SLV, GDX, NUGT, IAU, AGQ, GGN, CEF, PSLV, DUST, SIL, PHYS, USLV, SIVR, SGOL, ZSL, UGL, GLDX, DGP, GTU, SPPP, GLL, UGLD, DZZ, SLVO, GLDI, SGDM, DSLV, ASA, OUNZ, SLVP, DGL, DBS, GLTR, RING, DGZ, DGLD, DBP, WITE, PSAU, TGLDX, USV, GEUR, GYEN, JJP, UBG, GDXS, GDXX
Thu, Feb. 11, 3:27 PM
- Gold stocks (GDX +7.8%) power higher as April gold futures jumped by $53.20/oz., or +4.5%, to settle at $1,247.80, the highest level since February 2015 and the biggest one-day dollar and percentage gain since September 2013, as investors sought safe-haven assets amid the global equity market rout.
- A growing universe of government bonds with negative yields has helped gold, while a lower U.S. dollar has made it cheaper for buyers in other currencies to purchase gold.
- Investor sentiment “seems to be thawing at the start of 2016, with a focus on gold’s wealth preservation and risk diversification properties,” the World Gold Council says.
- ABX +4.8%, GG +4.4%, AEM +8.7%, SLW +6.3%, KGC +14.2%, NG +6.2%, AU +7.4%, FNV +6.8%, GFI +10.8%, HMY +15.1%, SBGL +16%, IAG +12.3%, GOLD +4%, EGO +14%, AUY +9%, BTG +15.2%, HL +8.8%.
- ETFs: GLD, SLV, NUGT, IAU, AGQ, GGN, PSLV, DUST, SIL, PHYS, USLV, SIVR, SGOL, ZSL, UGL, GLDX, DGP, GTU, GLL, UGLD, DZZ, SLVO, GLDI, SGDM, DSLV, ASA, OUNZ, SLVP, DGL, DBS, RING, DGZ, DGLD, PSAU, TGLDX, USV, GEUR, GYEN, UBG, GDXS, GDXX, QGLDX
Thu, Feb. 11, 9:13 AM
- Gainers: DDD +15%. AG +14%. FSM +13%. TRIP +12%. MUX +11%. AUY +11%. SBGL +11%. GFI +10%. AGI +10%. LC +10%. GG +10%. CDE +9%. EGO +9%. KGC +9%. HMY +9%. IAG +9%. EXPE +8%. ABX +8%. NEM +8%. SLW +8%. SSRI 8%. AU 7%. AEM 7%. HL 7%. NG 7%. CSCO 6%. SKX 5%.
- Losers: FLO -18%. INCY -15%. SFL -13%. MYL -13%. BTU -13%. ZNGA -13%. SNOW -11%. IFF -10%. ELMD -9%. AVP -8%. CS -7%. BCS -7%. SUNE -6%. CIG -5%. TWTR -6%.
Wed, Feb. 10, 10:50 PM
- Agnico Eagle (NYSE:AEM): Q4 EPS of $0.02 beats by $0.02.
- Revenue of $482.93M (-4.0% Y/Y) misses by $13.63M.
- Shares +2.35% AH.
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%.
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. 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
Agnico Eagle Mines Ltd. engages in the exploration, development and production of gold mineral properties. It operates through three segments: Northern Business, Southern Business and Exploration. The Northern Business segment comprised of LaRonde mine, Lapa mine, Goldex mine, Meadowbank mine,... More
Sector: Basic Materials
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