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Fri, Feb. 12, 9:17 AM
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%.
Tue, Jan. 26, 9:22 AM
Mon, Jan. 25, 9:14 AM
Fri, Jan. 15, 9:29 AM
Dec. 28, 2015, 12:57 PM
- Much like oil/gas firms (hurt by fresh oil price declines), coal, gold, and silver miners are having a rough day. End-of-year tax and fund selling could be playing a role. Comex gold is down a moderate 0.6%, and Comex silver down 3.2%. The S&P is down 0.5%.
- Notable coal decliners: Peabody Energy (BTU -13.6%), Westmoreland Coal (WLB -6.4%), CONSOL Energy (CNX -9%), and Cloud Peak Energy (CLD -4%).
- Notable gold decliners: Goldcorp (GG -3.5%), Barrick Gold (ABX -3.1%), Newmont Mining (NEM -4%), Kinross Gold (KGC -3.8%), Gold Fields (GFI -6.7%), AngloGold Ashanti (AU -5%), Harmony Gold (HMY -6.5%), and Sibanye Gold (SBGL -4.2%).
- Notable silver decliners: Silver Wheaton (SLW -3.8%), Pan American Silver (PAAS -3.6%), First Majestic Silver (AG -6.9%), Tahoe Resources (TAHO -4.9%), and Coeur Mining (CDE -5.8%).
- ETFs: GLD, SLV, IAU, AGQ, PSLV, PHYS, USLV, SIVR, SGOL, ZSL, UGL, DGP, GTU, GLL, UGLD, DZZ, SLVO, GLDI, DSLV, OUNZ, DGL, DBS, DGZ, DGLD, USV, GEUR, UBG, GYEN, TONS, QGLDX
Dec. 17, 2015, 9:20 AM
Dec. 1, 2015, 5:34 PM
Nov. 20, 2015, 10:41 AM
- A Fed interest rate hike in December could knock back the price of gold to ~$1,000/oz., Gold Fields (GFI -3.1%) CEO Nick Holland tells Creamer Media after the company's share price soared 29% in Johannesburg for its best single day of trading since 1999.
- The uncertainty around a rate increase has played havoc with the gold price in recent weeks, but Holland says long-term fundamentals for gold remain positive, based on projections of inadequate supply; “It doesn’t matter what we do now as an industry, a supply fall-off is inevitable," the CEO says.
- "Is it three years of pain, four years, five years? We don’t know, but we’re in a long-term business and we can’t take decisions for one year,” Holland said after GFI reported improved Q3 earnings and higher net cash flow to cut net debt to 1.4x EBITDA.
- ETFs: GLD, IAU, PHYS, SGOL, UGL, DGP, GTU, GLL, UGLD, DZZ, OUNZ, DGL, DGZ, DGLD, AGOL, UBG
Nov. 19, 2015, 9:58 AM
- Gold Fields (GFI +18.5%) pops nearly 20% at the open after gaining the most in 16 years in Johannesburg, as the South African miner reports lower Q3 earnings and revenues Y/Y but much improvement in containing costs.
- GFI says cash outflows at its South Deep mine, the world’s second largest gold ore body, fell 26% to $20M in Q3 while production jumped 42% to more than 60K oz.; GFI says the project, which has been beset by delays, is on course to break even by the end of 2016, with all-in sustaining costs at ~$1,035/oz. this year vs. an Aug. 20 estimate of $1,055/oz.
- GFI says its Damang operation in Ghana is “challenged" amid lower bullion prices, so it is considering recapitalizing it to gain access to higher-grade ore or putting it on care and maintenance.
Nov. 19, 2015, 9:14 AM
Nov. 6, 2015, 5:38 PM
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. 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. 11, 2015, 2:39 PM
- Canadian and South African gold stocks slide as prices for the precious metal capped a third straight week of losses and the imminent re-balancing of fund portfolios adds to investor concerns.
- Two gold ETFs run by Market Vectors Gold Miners ETF - GDX and GDXJ - are expected to announce upcoming re-balancing changes after the close; both ETFs are on pace to close at their lowest levels since their respective formations in 2006 and 2009.
- The Global X Silver Miners ETF (NYSEARCA:SIL) and PureFunds ISE Junior Silver ETF (NYSEARCA:SILJ) also are on pace for their record lows.
- KGC -3.2%, GG -0.5%, GFI -8.2%, AU -4.8%, BTG -5.2%, FNV -1.9%, EGO -0.2%, some of them paring larger earlier losses.
- Other ETFs: NUGT, GGN, DUST, SIL, JNUG, GLDX, JDST, SGDM, ASA, SLVP, SILJ, RING, JUNR, PSAU, TGLDX, SGDJ, GDJJ, GDXS, GDXX, GDJS
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