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Wednesday, May 8, 2:05 PM Today's dead-cat bounce in the mining sector looks like a reaction to the overwhelming bearishness, expressed in the options market yesterday by heavy buying of GDX puts. Volume in the gold miners ETF (GDX +4.8%) is only about average so far, indicating mere short-covering and no stampede back into gold stocks, Randall Forsyth writes. ABX +7.6%, GG +4.5%, NEM +4%. 5 Comments [Commodities, On the Move]
Monday, April 15, 12:59 PM Pan American Silver (PAAS -7%) is downgraded to Market Perform with a $19.50 target price (from $30) at BMO Capital, as a lack of growth and high cost structure expose shareholders to downside risk in a declining metal price environment. The firm cuts its EPS and cash flow/share outlook 58% and 34%, respectively, to $0.74 and $1.55, well below consensus. Also, SLW -7.5%, HL -8.5%. 3 Comments [Commodities, Quick Ideas, On the Move]
Monday, April 15, 5:01 AM Gold futures leg down to $1,401, -6.1%. Silver -9.8% to $23.74. ETFs to watch: GLD, IAU, DGP, SGOL, UGL, PHYS, AGOL, DGL, UBG, DZZ, GLL, DGZ, UGLD, DGLD, DBP, GLDI, GDX, GDXJ, NUGT, AGQ, GLDX, PSAU, DUST, GGGG, RING, SLV, PSLV, SIVR, ZSL, DBS, USV, USLV, DSLV, SILJ, SIL, SLVP. 2 Comments [Breaking News, Commodities, On the Move]
Friday, April 12, 2:27 PM Goldman's short call on gold looks prescient, as comex gold sinks $63.50 to settle at $1,501.40/oz. for its lowest close since July 2011. Traders and analysts see no obvious trigger for the selloff, which seems to reflect the malaise that has gripped the market. Silver slips $1.37 to $26.33/oz. Miners are huge losers: HMY -7.5%, ABX -7.3%, AEM -6.9%, AUY -6.2%, SLW -5.6%, NEM -5.2%, EGO -4.9%, GFI -4.8%, GG -4.5%. 38 Comments [Commodities, On the Move]
Friday, March 22, 9:49 AM Silver Wheaton (SLW +2.1%) shoots higher at the open after last night's Q4 report said earnings hit a record $0.50/share vs. $0.41 a year earlier and revenue also set a record at $287M. Attributable silver equivalent output rose 22% to 8.5M oz. Average cash costs rose to $4.70 per silver equivalent oz. from $4.06 a year ago. Comment! [Commodities, Earnings, On the Move]
Tuesday, March 5, 10:15 AM Global M&A in the mining sector fell by a third last year to the lowest level since 2005, with nearly half of 2012’s $110B tally due to the announced Glencore-Xstrata merger, according to a PriceWaterhouse study. The data comes as little surprise to miners at this week's annual PDAC conference: "Every company coming here is saying, we don’t have the money." Comment! [Commodities, M&A, Global & FX]
Wednesday, February 20, 11:41 AM The long-cycle in precious metals has peaked, writes Citi's Jon Bergtheil, arguing we'd need a level of systemic risk higher than the past few years to warrant a continued bull run. Especially vulnerable are the PM miners (GDX, SIL) which benefit from what may be mistaken belief $35 silver and $1,600 gold are the "new normal." 21 Comments [Commodities]
Friday, November 30, 2012, 12:10 PM Q4 should show a big improvement for Silver Wheaton (SLW) after its Q3 suffered from several sales lags, Scotiabank mining analyst Trevor Turnbull says in calling shares a Buy. SLW is growing production at a 70% rate, he says, noting much of the expansion has begun and is anchored by low-cost assets such as Penasquito in Mexico and Pascua-Lama in Chile and Argentina. 4 Comments [Commodities, Quick Ideas]
Monday, November 5, 2012, 7:31 AM More on Silver Wheaton (SLW) Q3 earnings: Silver equivalent sales a disappointing 5.1M ounces due to timing of deliveries, but are expected to be made up for in the future. Cash margin of $27.70, down 15% Y/Y. Shares -4.3% premarket. Keep an eye on the Silver Miners ETF (SIL), of which SLW makes up 13.26% of the holdings. (PR) 1 Comment [Earnings, Commodities]
Monday, September 24, 2012, 9:38 AM Investors have been voracious buyers of silver and silver miner ETFs on QE-infinity, and when silver is outperforming gold, it is usually a bullish sign for the entire precious metals complex. Physically backed silver ETFs (SLV, SIVR, DBS) have jumped 23% in three months; silver miners (SIL, SLVP) are up 22%-plus. Physical gold (GLD) added ~10% and gold miners (GDX) ~15%. 4 Comments [Commodities, Quick Ideas]
Thursday, June 28, 2012, 3:07 PM Silver falls 2.6% to a 19-month low of $26.23, but thus far there are no signs of a rush out SLV. A key area of support is $26, says Michael Shaoul, with the next stop on the charts being $17.50 - the point at which the metal began its big run in 2010. The miners (SIL -2.6%) have performed better than the metal (-7.6%) during June. Comment! [Commodities]
Tuesday, June 12, 2012, 5:07 AM Some mining companies (including BHP and RIO) that have relied mostly on surface mining are now going deeper, allowing them to continue using mining, processing and transport infrastructure even after the surface deposits are depleted. New technologies and the high price of commodities are making the unusually-deep mines financially feasible, but going deeper isn't without its risks. 9 Comments [Commodities]
Monday, April 30, 2012, 8:57 AM Gold takes a quick tumble, dropping nearly 1% in minutes to $1.650/oz. (taking silver along for the ride, or vice versa). The fall comes as HSBC hits the tape, cutting its 2012 average gold forecast to $1,760 from $1,850 on a "sharp decline" in Indian demand and reduced expectations for QE. 15 Comments [Commodities, On the Move]
Friday, April 13, 2012, 10:53 AM A day after rallying strongly, many commodity names are selling off as a result of top customer China's soft GDP report. Copper (CU -2.4%), silver (SLVP -1.8%), and gold (PSAU -1.6%) miners are all getting hit, as are steelmakers (SLX -1.9%) and some aluminum names (AA -2.2%, NOR -3.7%). 2 Comments [Commodities, On the Move]
Thursday, April 12, 2012, 2:49 PM It's a good day to own commodity stocks. Alcoa's (AA +2.5%) strong Q1 and China optimism is not only lifting aluminum names, but also makers of steel (SLX +4.7%), copper (CU +4.1%), silver (SLVP +2.7%), and gold (PSAU +3.8%), among other things. 2 Comments [Commodities, On the Move]
Monday, March 19, 2012, 12:02 PM Precious metals continue to bounce bit after an ugly 3-week run which saw gold decline nearly 9% and silver more than 10%. Gold +0.5% to $1,664, silver +1% to $32.92. The miners move higher as well: GDX +0.4%, SIL +0.5%. 1 Comment [Commodities]

SLVP iShares MSCI Global Silver Miners ETF

SLVP

iShares MSCI Global Silver Miners ETF