Wed, Aug. 12, 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.
Fri, Jul. 24, 5:40 PM
Thu, Jul. 9, 2:58 PM
- Coeur Mines (CDE -2.9%) is sharply lower after reporting preliminary Q2 production of 4.3M oz. of silver and 81K oz of gold, or 9.1M silver equiv. oz., and says its 2015 total silver and gold production guidance remains unchanged.
- In response, Roth Capital cuts its stock price target to $6 from $7.25 and reduces its estimates, stating that as a pure producer of precious metals, CDE is highly levered to gold and silver prices.
Fri, Apr. 24, 5:37 PM
Fri, Apr. 10, 8:59 AM
- Paramount Gold (NYSEMKT:PZG) +1.9% premarket after announcing it received approval from the NYSE to list its Paramount Gold Nevada spinco.
- PZG plans to spin off of Paramount Gold Nevada as a separate, publicly traded company in connection with its merger with Coeur Mining (NYSE:CDE).
- Paramount Gold Nevada will have ~8.5M common shares issued and outstanding when trading is expected to begin on the NYSE MKT on April 20.
Thu, Feb. 19, 9:12 AM
Thu, Jan. 15, 9:16 AM
Dec. 29, 2014, 5:42 PM
Dec. 26, 2014, 3:34 PM
- Spurred by hopes China's efforts to relax lending rules are a sign that broader (inflation-boosting) stimulus efforts are on tap, gold and silver prices are rallying, and taking the shares of miners up with them. COMEX gold is up 1.8% to $1,194.50/oz., and COMEX silver is up 2.5% to $16.11/oz. GLD +1.7%. SLV +2.2%.
- Gold stocks: AUY +3%. GG +4.6%. AGI +4.1%. ABX +3.4%. KGC +3.7%. GFI +3.7%.
- Silver stocks: SLW +2.3%. SSRI +6.9%. PAAS +1.9%. AG +3.6%. CDE +4.1%. HL +4.2%. SVM +6.8%. EXK +5.4%. TAHO +5.3%.
- Like many other commodities names, the group was hit hard a month ago when crude prices plunged in response to OPEC's decision to leave oil production unchanged.
- ETFs: AGQ, IAU, USLV, SIVR, SGOL, ZSL, UGL, DGP, GLL, UGLD, DZZ, SLVO, GLDI, DSLV, OUNZ, DGL, DBS, DGZ, DGLD, AGOL, TBAR, USV, UBG, GLDE, BAR, GYEN, GEUR, BARS, GGBP
Dec. 17, 2014, 7:45 AM
- Coeur Mining (NYSE:CDE) agrees to acquire Paramount Gold and Silver (NYSEMKT:PZG) for $146M in stock, as it expands its mining footprint in Mexico.
- As part of the deal, PZG will spin off its non-Mexican assets into a stand-alone publicly listed company, of which CDE will own a 4.9% stake.
- PZG's San Miguel mining project neighbors CDE's Palmarejo silver-gold mine in northern Mexico, and the merger enables Palmarejo to continue as one of the largest and highest grade silver and gold mines in the world.
- PZG +21.8% premarket.
Dec. 15, 2014, 5:37 PM
Dec. 1, 2014, 8:12 AM
- Coeur Mining (NYSE:CDE) is in advanced talks to acquire Paramount Gold and Silver (NYSEMKT:PZG), Reuters reports, as the biggest U.S. producer of silver seeks to expand its mining footprint in Mexico.
- As part of the deal, PZG plans to spin off its non-Mexican assets into a stand-alone publicly listed company, in which CDE would hold a 4.9% stake, according to the report.
- PZG's San Miguel mining project neighbors CDE's Palmarejo silver-gold mine in northern Mexico, and a deal would enable Palmarejo to continue as one of the largest and highest grade silver and gold mines in the world for at least another seven years.
- PZG +4.5% premarket, CDE -0.2%.
Nov. 28, 2014, 1:21 PM
- Already hit hard over the last two years by declining prices, gold and silver miners saw more pain today as commodity stocks in general got hammered thanks to OPEC's decision not to slash crude production.
- Decliners: ABX -8%. GG -6.1%. AUY -9.8%. KGC -8.2%. GFI -9.9%. SLW -7%. NEM -5.8%. AGI -6.9%. PAAS -9%. AG -15.4%. SSRI -11.6%. CDE -11.4%. HL -8.8%. TAHO -7.8%.
- Previous: Precious metals slide alongside oil; Swiss vote ahead
Nov. 5, 2014, 5:36 PM
Oct. 22, 2014, 3:53 PM
- Coeur Mining (CDE -14.1%) plunges after BMO Capital downgrades shares to Underperform from Market Perform and slashes its stock target price to $4 from $9.50, pointing out signs of "strained" valuation.
- The downgrade comes as BMO describes its view that silver will continue to underperform gold over the next 12 months, and that silver miners "will need to look increasingly toward grade as a mechanism to reduce unit costs at the expense of reserve life."
Oct. 6, 2014, 2:45 PM
- Gold prices bounce off 15-month lows to reclaim $1,200/oz. as the dollar rally pauses, helping strengthen shares of precious metals miners: AU +4.4%, GFI +3%, IAG +1.9%, BTG +3%, GG +2.2%, NGD +1.5%, KGC +1.6%, AGI +1.6%, RGLD +1%, SLW +2.1%.
- Sterne Agee analysts Michael Dudas and Satyadeep Jain foresee gold and silver prices trending higher, with gold averaging $1,400/oz. in 2015 and $1,450 in 2016 and silver averaging $19 next year and $21 in 2016, as “global demand remains firm, liquidity remains ample and the dollar appears overbought.”
- With investor sentiment still skeptical, Sterne thinks any supportive macro news flow could provide fuel for a rally; the firm rate Newmont Mining (NEM +1.5%), Agnico-Eagle Mines (AEM +2.4%), Coeur Mining (CDE +1.3%) and Gold Resource (GORO +0.2%) as Buys, with Barrick Gold (ABX +0.5%), Hecla Mining (HL +4.3%) and Pan American Silver (PAAS +1.5%) rated Neutral.
- ETFs: GLD, SLV, AGQ, IAU, USLV, SIVR, SGOL, ZSL, UGL, DGP, GLL, UGLD, DZZ, SLVO, GLDI, DSLV, DGL, DBS, DGZ, OUNZ, DGLD, AGOL, DBP, TBAR, USV, UBG, JJP, GLDE, BAR, GYEN, GEUR, RGRP, BARS, GGBP, BLNG
CDE vs. ETF Alternatives
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