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TABLE OF CONTENTS Nov 4 - 10, 2013 Volume 99 Number 38 - 0 comments

Toronto Stock Exchange, Oct. 21-25

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2013-10-30

The period was a good one for gold, and as the yellow metal went up, so too did the broader index, with the S&P/TSX Composite Index up 250 points to 13,399.42 points, and gold up US$36 to US$1,352.50 per oz.

Strong metal prices and solid third-quarter earnings reports helped gold miners fuel the rally, and the S&P/TSX Global Gold Index gained 16 points to finish at 187.98 points.

Not that the gains in the broader index were all about gold. Canadian equities also benefitted from a renewed sense of optimism after the U.S. government reopened for business, and investor expectations that the U.S. Federal Reserve’s tapering will be postponed, which could be good for growth. 

Diversified miners had a strong period, as the S&P/TSX Capped Diversified Metals & Mining Index was up 35 points to 841.54 points, despite the copper price being off slightly, as it was down 2¢ to finish at US$3.27 per lb.

No company was basking in the renewed interest in gold more than Barrick Gold. The world’s biggest gold producer broke out of a funk, as its shares were up $1.06 to $21.07. Barrick enjoyed an upgrade to “overweight” from “neutral” at HSBC, after reporting positive operating results. The HSBC report also heralded the sale of the Yilgarn South assets in Australia to South Africa’s Gold Fields, a slower ramp-up at Pueblo Viejo and its Pascua-Lama permit being held up by Chilean courts.

Agnico Eagle Mines was also feeling the market love, as it beat analyst estimates and raised its production forecast. Despite profits being down 56% year-over-year, its net income of US$47.3 million — or 27¢ per share — still looked good to investors, and the company’s stock was up $5.27 to $32.24 per share. It had kept production costs low — total cash costs came in at US$591 per oz. — while driving production higher to 315,828 oz. gold in the quarter.

Teck Resources shares were up $1.04 to $32.03, thanks to third-quarter adjusted profits of $252 million, or 44¢ per share. That was enough to beat estimates despite lower product prices, compared to the same time last year.

Centerra Gold was hit hard by word that the Kyrgyzstani parliament rejected a deal between the government and the company over its Kumtor gold mine. The deal called for setting up a joint venture in which both Centerra and the Kyrgyzstani government would own 50%. The government has a 33% stake. The parliament wants country’s ownership to increase to 67%, with a December deadline. Centerra shares were off 19% to $4.19 for the period.

TSX most active issues


    Volume  
Company Symbol (000s) High Low Close Change
Osisko Mng OSK 22956 5.77 5.15 5.32 - 0.21
Kinross Gold K 19813 5.48 5.01 5.44 + 0.26
B2Gold BTO 15373 2.82 2.43 2.81 + 0.2
Barrick Gold ABX 15345 21.22 19.18 21.07 + 1.06
Capstone Mng CS 14315 2.94 2.75 2.78 - 0.07
Goldcorp G 13613 28.07 25.23 27.98 + 1.67
Yamana Gold YRI 12470 10.8 9.73 10.74 + 0.63
Eldorado Gold ELD 10950 7.3 6.3 7.27 + 0.78
Potash Cp Sask POT 10139 33.25 31.23 32.61 + 0.01
Iamgold IMG 9505 5.73 4.98 5.7 + 0.56

TSX greatest percentage change


    Volume  
Company Symbol (000s) High Low Close Change
Rio Novo Gold RN 2557 0.06 0.03 0.05 + 80
CaNickel Mng CML 35 0.18 0.1 0.17 + 70
TriAusMin TOR 898 0.06 0.04 0.06 + 50
Vena Res VEM 35 0.09 0.09 0.09 + 50
Carpathian Gld CPN 7287 0.09 0.07 0.08 + 45.4
Petaquilla Mnl PTQ 2522 0.49 0.4 0.48 + 35.7
Intl Tower Hil ITH 415 0.54 0.34 0.53 + 34.1
Aura Mnls ORA 1130 0.12 0.09 0.12 + 33.3
First Nickel FNI 512 0.03 0.02 0.02 + 33.3
Redzone Res REZ 236 0.05 0.03 0.04 + 33.3
Zincore Mtls ZNC 132 0.15 0.13 0.14 - 22.8
Rockex Mng RXM 67 0.04 0.03 0.04 - 22.2
Chieftain Mtls CFB 28 0.46 0.31 0.31 - 20.5
Cerro Grande M CEG 142 0.03 0.02 0.02 - 20
Silver Predatr SPD 557 0.06 0.04 0.04 - 20
Nuinsco Res NWI 1520 0.02 0.02 0.02 - 20
Curis Res CUV 32 0.64 0.6 0.61 - 19.7
Centerra Gold CG 3126 5.07 3.63 4.19 - 18.8
EMC Metals EMC 806 0.03 0.03 0.03 - 16.6
Thundermin Res THR 45 0.03 0.03 0.03 - 16.6

TSX greatest value change


Company Symbol Change Close Change
Agnico-Eagle AEM 7994649 32.24 + 5.27
Central Gold-T GTU_U 10657 49.97 + 2.32
Franco-Nevada FNV 1595719 47.75 + 2.01
Royal Gold RGL 20178 55.04 + 1.93
Goldcorp G 13612879 27.98 + 1.67
Agrium AGU 1331886 89.9 + 1.28
Silver Wheaton SLW 4128923 25.7 + 1.14
Barrick Gold ABX 15345336 21.07 + 1.06
Teck Res A TCKA 20195 32.03 + 1.04
First Majestic FR 1705795 13 + 0.94
Horizns G Bear HGD 2653583 16.21 - 2.11
Centerra Gold CG 3125828 4.19 - 0.97
Osisko Mng OSK 22956035 5.32 - 0.21
MBAC Fertilizr MBC 411416 1.9 - 0.15
Curis Res CUV 31800 0.61 - 0.15
Sprott Res SCP 820245 2.92 - 0.14
Karnalyte Res KRN 359725 1.73 - 0.12
Virginia Mines VGQ 28972 10.65 - 0.11
Golden Mnls AUM 70042 0.8 - 0.1
Copper Mtn Mng CUM 1515971 1.8 - 0.09


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