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TABLE OF CONTENTS Feb 24 - Mar 2, 2014 Volume 100 Number 2 - 0 comments

TSX posts strong numbers, Feb. 10-14

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2014-02-19

Upbeat trade numbers from China showing that import growth reached a six-month high in January helped ease worries about emerging markets and pushed up oil prices. Investors were also relieved when the U.S. Congress approved an increase in the debt limit through March 2015 and by comments from U.S. Federal Reserve chair Janet Yellen vowing to keep interest rates low. The S&P/TSX Composite Index rose 1.95% to 14,054.76 during the trading week, while the S&P/TSX Capped Diversified Metals and Mining Index advanced 0.15% to 832.15. The New York spot gold price closed the week US$52 higher at US$1,319.10 per oz.

Barrick Gold advanced $1.48 to $22.36 per share. The gold major reported that it lost US$2.8 billion, or US$2.61 per share, in the fourth quarter of 2013, compared with a net loss of US$3 billion, or a US$3.01-per-share loss in the year-ago quarter. The loss included US$2.8 billion in impairment charges. Revenue in the quarter dropped to US$2.9 billion from US$4.2 billion a year earlier, while adjusted net earnings came in at US$406 million, or US37¢ per share. Barrick cut its gold reserves to 104.1 million oz. gold at the end of 2013 from 140.2 million oz. gold at the end of 2012, using a gold price of US$1,100 per oz. compared to US$1,500 per oz. in 2012. For 2013, adjusted earnings dropped to US$2.51 per share from US$3.95 per share in 2012. Barrick expects to produce 6 million to 6.5 million oz. gold in 2014, down from 7.2 million oz. produced in 2013.

Shares of Augusta Resource traded higher during the week — up 41.4% to $3.55. On Feb. 9, Hudbay Minerals launched a hostile takeover bid for the company and its Rosemont copper porphyry project in Arizona. Under Hudbay’s all-stock proposal, Augusta shareholders would receive 0.315 of a Hudbay share for each Augusta share held.

Teck Resources dropped $1.06 to $26.25 per share after the company reported that its adjusted fourth-quarter and full-year profit both fell 44.5%, as lower commodity prices took a bite out of strong operational results. Canada’s largest diversified miner posted an adjusted fourth-quarter profit of $227 million, or 40¢ per share. Adjusted full-year profits were $1 billion, down from $1.8 billion in 2012. Revenue fell 11% to $2.4 billion in the last three months of 2013 and 9% to $9.4 billion for the year.

Labrador Iron Mines plunged 19.5% to 19¢ per share after the company announced that lower prices for its iron ore and higher freight rates contributed to a net loss of $31.3 million, or 25¢ per share, in the three months ended Dec. 31, 2013. The company sold 1.7 million tonnes of iron ore in 10 shipments during 2013, and ended the year with $7.6 million in cash and equivalents and a working capital deficit of $27 million.

TSX most active issues


    Volume  
Company Symbol (000s) High Low Close Change
B2Gold BTO 33089 3.06 2.79 3.05 + 0.23
Kinross Gold K 29677 5.98 5.4 5.72 + 0.39
Teranga Gold TGZ 26482 1.21 0.97 1.2 + 0.25
Torex Gold TXG 22562 1.27 1.16 1.25 + 0.08
Detour Gold DGC 21956 10.3 8.07 9.89 + 2.04
Barrick Gold ABX 19991 22.77 20.7 22.36 + 1.48
Trevali Mng TV 19471 1.12 1.01 1.09 + 0.08
Goldcorp G 18084 30.88 28.05 30.32 + 2.14
Carpathian Gld CPN 16120 0.07 0.06 0.07 + 0.01
Yamana Gold YRI 15969 11.75 10.24 11.63 + 1.52

TSX greatest percentage change 


    Volume  
Company Symbol (000s) High Low Close Change
Gran Colombia GCM 1080 2.55 1.56 2.54 + 75.1
Mines Managmnt MGT 47 1.5 0.95 1.5 + 57.8
Sunward Res SWD 258 0.33 0.19 0.3 + 55.2
TriAusMin TOR 636 0.05 0.04 0.05 + 50
Verde Potash NPK 1497 0.73 0.34 0.56 + 47.3
Crocodile Gold CRK 4090 0.26 0.17 0.25 + 47
Macarthur Mnl MMS 86 0.27 0.2 0.27 + 42.1
Augusta Res AZC 11758 3.55 3.09 3.55 + 41.4
BioteQ Env BQE 589 0.09 0.07 0.09 + 38.4
Wildcat Silver WS 2007 0.67 0.5 0.65 + 36.8
Oracle Mng OMN 131 0.25 0.19 0.19 - 27.4
QMX Gold QMX 969 0.02 0.02 0.02 - 25
Hard Creek Ni HNC 17 0.05 0.04 0.04 - 20
Labdr Iron Mns LIM 2590 0.24 0.18 0.19 - 19.5
Inspiration Mg ISM 112 0.11 0.09 0.09 - 19
Horizns G Bear HGD 3357 14.95 12.22 12.6 - 17.7
Candente Gold CDG 110 0.07 0.06 0.06 - 14.2
PC Gold PKL 834 0.04 0.03 0.04 - 12.5
Contl Precious CZQ 71 0.13 0.11 0.11 - 12.5
Xinergy XRG 516 0.42 0.35 0.36 - 12.2

TSX greatest value change


Company Symbol Change Close Change
Royal Gold RGL 68881 73.41 + 5.39
Silver Wheaton SLW 9624266 27.88 + 2.91
Central Gold-T GTU_U 17883 52.24 + 2.91
Tahoe Res THO 2113854 24.01 + 2.84
Franco-Nevada FNV 2614528 57.01 + 2.31
Goldcorp G 18084499 30.32 + 2.14
Detour Gold DGC 21956194 9.89 + 2.04
Newmont Mng NMC 25143 25.98 + 2
Horizns G Bull HGU 5010932 10.91 + 1.74
First Majestic FR 3584718 13.38 + 1.54
Horizns G Bear HGD 3356957 12.6 - 2.71
Teck Res B TCKB 12458937 26.25 - 1.06
Virginia Mines VGQ 239607 13.29 - 0.51
HudBay Minls HBM 4203091 8.93 - 0.47
Russell Metals RUS 826554 28.61 - 0.37
Labdr I-Ore Ro LIF 388441 32.92 - 0.33
Turquoise Hill TRQ 5207523 3.56 - 0.18
Altius Mnrls ALS 227547 15.5 - 0.18
Potash Cp Sask POT 6334911 37.01 - 0.12
Argex Titanium RGX 1124329 0.69 - 0.09


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Related Press Releases
Barrick Gold Corporation Third Quarter 2014 Results Release, Conference Call and Webcast
Teck's Q3 2014 Financial Results and Investors' Conference Call October 29, 2014
Labrador Iron Mines Annual Meeting of Shareholders Provides Corporate Update
 



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