Thu, Jan. 15, 5:39 PM
Thu, Jan. 15, 12:35 PM
- Gold, silver, platinum and palladium are spiking today on Switzerland's surprise move to abandon its currency floor, and shares of the miners are following suit: GDX +6.1%.
- "Gold is much stronger as the 'safety' of the Swiss Franc vanishes,” commented Dave Lutz of JonesTrading.
- Peter Boockvar believes that in "a world of currency battles with printing presses that are extraordinarily large... gold will be the last man standing... the gold bear market is over and will go substantially higher from here."
- Against a backdrop of concerns about global growth, deflation and renewed volatility, gold has been climbing since November as other growth-sensitive commodities such as oil and copper have sold off.
- Among precious metals miners: BTG +9.5%, GG +8.9%, KGC +8.7%, NEM +8.3%, AUY +8.1%, EGO +7.4%, [AGI +7%, [ABX]] +6.2%, NG +5.9%, AUQ +5.6%, FNV +5.5%, RGLD +5.4%, IAG +4.8%, GFI +4.2%, HL +4.2%, SLW +3.1%.
- Other ETFs: NUGT, GDXJ, DUST, SIL, JNUG, GLDX, JDST, SLVP, SILJ, RING, SGDM, PLTM, PSAU
Wed, Jan. 14, 9:57 AM
- AuRico Gold (AUQ +1.5%) reports its 11th consecutive quarter of record gold production from its Young-Davidson mine as well as annual consolidated results that are in-line with guidance levels.
- Consolidated results show ~224K oz. of gold estimated to have been produced in 2014.
- AUQ says its year-end cash balance totaled ~$90M, and that Q4 net free cash flow from Young-Davidson was ~$9M.
- Also says it received C$20M from the recently restructured royalty arrangement with Crocodile Gold.
Dec. 18, 2014, 5:39 PM
Dec. 15, 2014, 11:23 AM
- AuRico Gold (AUQ +3.6%) says it discovered a new gold-copper porphyry at Kemess East near the Kemess mill facility.
- AUQ says the discovery demonstrates the significant potential of the Kemess land package, with some of the program's drill holes ending in mineralization.
- AUQ says it plans to have an initial resource estimate for Kemess East in early 2015, after an initial mineralogical assessment indicated it is similar to the Kemess Underground deposit.
Dec. 10, 2014, 5:39 PM
Dec. 9, 2014, 5:36 PM
Dec. 5, 2014, 5:40 PM
Dec. 4, 2014, 12:15 PM
- AuRico Gold (AUQ -3.5%) is downgraded to Underweight from Equal Weight at Morgan Stanley, which believes the impressive ramp-up of the Young-Davidson mine already has been priced in.
- The firm thinks the market is not reflecting the inherent risks remaining at Young-Davidson, which is still two years from its design underground mining rates of 8K tons/day, and sees the stock's premium is unjustified.
- New Gold (NGD -1.7%) provides investors with a stronger risk-reward profile at current levels, Stanley says.
Nov. 14, 2014, 10:58 AM
- The gold market will enter deficit by 2016 as producers cut capex, resulting in reduced supply in the medium- to long-term, Credit Suisse analyst Anita Soni writes, seeing 2014 as a likely plateau for supply (Briefing.com).
- Agnico Eagle Mines (AEM +2.6%) and Eldorado Gold (EGO +4.5%) are the firm's top picks among gold miners under coverage.
- Other Outperform rated gold companies are GG, KGC, AUY, AUQ, FNV, GSS and IAG; rated Neutral are ABX, NEM, NGD and AGI.
Nov. 6, 2014, 4:40 PM
Nov. 5, 2014, 11:38 AM
- Spot gold skids to its lowest since April 2010 at $1,137/oz., below production costs for seven of 19 mining companies tracked by Bloomberg, including Harmony Gold (HMY -1.8%) and Primero Mining (PPP -2%).
- Harmony Gold said in its Q3 earnings report that all-in sustaining costs were $1,245/oz., while Primero reported all-in sustaining costs of $1,228; the most recent data from DRDGold (DRD -6.3%), AuRico Gold (AUQ +0.6%), Golden Star Resources (GSS +0.1%) and Alamos Gold (AGI -0.5%) also show costs higher than current prices.
- Maison Placements Canada brokerage's John Ing says a "two-tier type of market" is developing, where one tier of companies having solid assets and lower costs and another group saddled with high-cost operations and stretched balance sheets.
- ETFs: GDX, GDXJ, NUGT, DUST, SIL, JNUG, GLDX, JDST, SLVP, SILJ, RING, SGDM, PSAU
Nov. 3, 2014, 5:38 PM
Oct. 14, 2014, 10:59 AM
- AuRico Gold (AUQ +6.6%) reports its ninth consecutive quarter of record company-wide gold production, driven by record production from its cornerstone Young-Davidson mine in Ontario.
- Total Q3 production of 57K gold oz. represents gain of 1.5% Q/Q and 16% Y/Y; Young-Davidson production of 40.5K gold oz. represents gains of 35% Y/Y and 1% Q/Q.
- Underground cash costs fell 18% Q/Q to $656/gold oz., as total cash costs including the low-grade open pit stockpile fell 17% to $723/gold oz.
Oct. 3, 2014, 11:24 AM
- Among a number of rating changes made by RBC today, the team throws in the towel on its Outperform call on Kincross Gold (KGC -4.1%), downgrading to Sector Perform and cutting the price target to $4.50 from $5.50. Also downgraded is Lake Shore Gold (LSG -7.6%) - to Underperform from Sector Perform.
- Getting a little help from an upgrade as gold tumbles below $1,200 per ounce, is AuRico Gold (AUQ -0.3%) - now an Outperform thanks to attractive valuation, declining costs, and lower capital intensity. Also upgraded to Outperform is Fresnillo (OTCPK:FNLPF -8.3%), while Newmont Mining (NEM -1.3%) is boosted to Sector Perform from Underperform.
- The GDX is down 3.1% on the session.
- Previously: Stocks and dollar higher, bonds and gold lower following jobs number
- ETFs: GDX, GDXJ, NUGT, DUST, JNUG, GLDX, JDST, RING, GGGG, SGDM, PSAU
Mar. 3, 2014, 9:55 AM
- Gold futures are surging in the wake of the crisis in Ukraine, and that's giving precious metals miners a big boost in early trading.
- AU +5.2%, GOLD +5%, GFI +4.6%, MUX +4.1%, BVN +3.9%, MVG +3.6%, SSRI +3.3%, IAG +3.2%, BTG +3.1%, HMY +3.1%, EXK +3.1%, ABX +2.8%, AUY +2.8%, SA +2.8%, SLW +2.7%, GG +2.7%, NEM +2.6%, HL +2.6%, KGC +2.3%, AGI +2.2%, AG +1.9%, NG +1.9%, PPP +1.8%, AUQ +1.6%, PAAS +1.2%, NGD +1%.
- ETFs: GDX, GDXJ, NUGT, DUST, SIL, GLDX, JNUG, SLVP, RING, SILJ, GGGG, JDST, PSAU
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