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
Oct. 6, 2014, 8:50 AM
- Coeur Mining (NYSE:CDE) +2.4% premarket after announcing preliminary Q3 production of 4.3M silver oz. (+2% Y/Y) and nearly 65K gold oz. (+3% Y/Y), or 8.2M silver equiv. oz.
- Q3 output at its Rochester, Nev., mine rose 110% Y/Y to 1.86M silver equiv. oz.; due to stronger production from Rochester, CDE increases its FY 2014 expected production range to 17K-18K silver oz., 229K-244K gold oz., and 30.7K-32.6K silver equiv. oz.
- Also announces high-grade drill results from its Kensington gold mine in Alaska, where several holes have returned grades greater than 1.0 oz./ton gold; expects to complete a new resource estimate for Kensington to incorporate the new results by year-end 2014.
Sep. 12, 2014, 5:36 PM
May. 28, 2014, 11:28 AM
- Coeur Mining (CDE -3.5%) says it has put its Joaquin silver and gold prospect in Argentina on hold, citing the inability to get an adequate return to compensate for the risks involved in getting capital in and out of the country.
- The project was in an advanced exploration stage, the Argentine government has imposed controls on capital flows; the mining sector also has been hurt by an unstable exchange rate, high inflation and a penchant by provincial governments to arbitrarily increase royalties.
- CDE also expects to release a feasibility study for its $350M La Preciosa precious metals project in Mexico later this year, but mining sector analysts expect that project also will be put on hold.
Feb. 18, 2014, 2:59 PM
- Coeur d'Alene Mines (CDE +7%) reports a significant increase in mineral reserves and resources totaling ~255.4M silver oz. and 2.2M gold oz., representing respective Y/Y increases of 15.9% and 12.3%.
- The gains are net of the 17M oz. of silver and 262,217 oz. of gold produced during 2013.
- In addition to these reserves, CDE announces measured and indicated mineral resources totaling 386.3M silver oz. and 2.5M gold ounces, up 26.6% and 1.4% respectively, vs. year-end 2012.
Jan. 10, 2014, 3:49 PM
- Gold futures settle at a four-week high, rising 1.4% to $1,246.90, as the surprisingly weak jobs report reopens debate over the pace of bond buying at the Fed; precious metals miners are far outpacing the broader market, with the top gold miner ETF (GDX) surging 3%.
- Among the top miners: ABX +2.3%, GG +3.3%, NEM +2.4%, AU +3.8%, KGC +1.3%, GFI +4.3%, AUY +2.8%, RGLD +5.3%, AGI +2%, AEM +4.5%, SLW +4.4%, IAG +1.9%, FNV +1.5%, CDE +2.3%, EGO +3.8%, NGD +2.9%, NG +6.9%, HMY +2.7%.
- ETFs: GDXJ, NUGT, DUST, SIL, GLDX, SLVP, RING, GGGG, SILJ, JNUG, PSAU, JDST.
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