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TABLE OF CONTENTS May 5 - 11, 2014 Volume 100 Number 12 - 0 comments

U.S. equities down, April 21-25

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2014-04-30

The crisis in Ukraine, where five pro-Moscow rebels were killed on April 24, weighed on U.S. stocks during the trading week. The Dow Jones Industrial Average dropped 0.29% to 16,361.46, while the S&P 500 Index remained more or less flat, down 0.08% at 1,863.40. Safe-haven buying sent the Philadelphia Gold & Silver Index up 3.47% to 93.31, and the gold price ended the week 0.77% higher at US$1,303.80 per oz.

Merger talks between Barrick Gold and Newmont Mining, buoyed Newmont’s shares. Newmont advanced US$2.91 to US$26.45 per share, while Barrick dipped US9¢ to US$17.89 per share. Reuters reported that while spin-out issues had been resolved, disagreement remained about “the power-sharing structures at the board level within a new combined entity.” In a letter to Barrick’s board on April 25 that wasn’t made public until April 28, Newmont said it was ending the talks, laying most of the blame on Barrick’s co-chairman, John Thornton. The company also reported a drop in first-quarter earnings due to lower gold and copper prices. Net income from operations fell to US$117 million, or US23¢ per share, down from US$314 million, or US63¢ per share, in last year’s first quarter.

Cliffs Natural Resources shed US65¢ to US$18 per share. The company posted a first-quarter loss due to lower prices for iron ore and metallurgical coal, and is battling hedge-fund and activist investor Casablanca Capital. The iron-ore and coal supplier reported a first-quarter net loss of US$83 million, or US54¢ per share, down from a net profit of US$97 million, or US66¢ per share, in the first quarter of 2013. Cliffs attributed the decline to cold weather, which impacted production and shipments on the Great Lakes.  

Freeport-McMoRan Copper & Gold advanced US$1 to US$34.01, and reported net income attributable to common stock in the first quarter of US$510 million, or US49¢ per share, compared with US$648 million, or US68¢ per share, in the first quarter of 2013. Freeport’s consolidated cash totalled US$1.4 billion and its consolidated debt was US$20.9 billion. The miner expects to spend US$120 million on exploration this year.

U.S. most active issues


    Volume  
Company Symbol (000s) High Low Close Change
Alcoa* AA 85296 13.7 13.22 13.33 - 0.23
Barrick Gold* ABX 78547 18.03 17.17 17.89 - 0.09
Newmont Mng* NEM 65757 26.5 24.32 26.45 + 2.91
Arch Coal* ACI 65713 5.08 4.33 4.41 - 0.6
Peabody Enrgy* BTU 64583 18.58 16.69 18 + 1.29
Alpha Nat Res* ANR 58420 4.52 4.13 4.2 - 0.2
Freeport McMo* FCX 40338 34.48 32.64 34.01 + 1
Kinross Gold* KGC 39338 4.25 3.98 4.18 + 0.11
Cliffs Nat Rs* CLF 32255 18.84 17.46 18 - 0.65
Goldcorp* GG 29499 25.03 23.14 24.86 + 1.26

U.S. greatest percentage change


    Volume  
Company Symbol (000s) High Low Close Change
Silvercorp Mt* SVM 1164 2.3 1.95 2.21 + 13.3
Newmont Mng* NEM 65757 26.5 24.32 26.45 + 12.3
Pretium Res* PVG 1533 6.23 5.5 6.13 + 11.8
Mag Silver* MVG 20 7.35 6.3 7.32 + 11.7
Seabridge Gld* SA 1417 8.59 7.3 8.17 + 11.1
Timmins Gold* TGD 987 1.44 1.27 1.42 + 10.9
Eurasian Mnls* EMXX 383 1.08 0.92 1.06 + 10.4
McEwen Mng* MUX 14169 2.65 2.16 2.49 + 10.1
Loncor Res* LON 78 0.13 0.11 0.11 + 10
Gold Fields* GFI 19225 4.33 3.77 4.32 + 9.6
Minco Gold* MGH 449 0.33 0.28 0.28 - 16.6
PolyMet Mng* PLM 2334 1.38 1.1 1.15 - 15.1
Arch Coal* ACI 65713 5.08 4.33 4.41 - 11.9
Mechel* MTL 1235 2.02 1.79 1.83 - 8
Yanzhou Coal* YZC 451 8.07 7.26 7.41 - 7.8
Entree Gold* EGI 384 0.34 0.31 0.32 - 6.6
Silver Bull R* SVBL 403 0.35 0.31 0.31 - 6.4
Tasman Mtls* TAS 601 1.47 1.28 1.31 - 6.4
Paramount Gld* PZG 5385 1.19 1.02 1.05 - 6.2
Walter Energy* WLT 4443 7.9 7.11 7.42 - 6.1

U.S. greatest value change


Company Symbol Change Close Change
Newmont Mng* NEM 65756887 26.45 + 2.91
Alliance Rs P* ARLP 292116 86.61 + 2.01
Tahoe Res* TAHO 136920 22.48 + 1.48
Franco-Nevada* FNV 3211071 47.68 + 1.43
Royal Gold* RGLD 2840324 66.05 + 1.35
Peabody Enrgy* BTU 64582735 18 + 1.29
Goldcorp* GG 29498874 24.86 + 1.26
Agrium* AGU 397603 94.21 + 1.11
Consol Energy* CNX 10844082 42.9 + 1.09
Freeport McMo* FCX 40337539 34.01 + 1
Compass Mnls* CMP 393369 83.64 - 2.2
US Silica Hld* SLCA 1088810 40.92 - 1.34
SunCoke Engy* SXC 561281 20.74 - 1.16
Cabot Corp* CBT 986653 58.07 - 1.04
Soc Quim&M Ch* SQM 2363653 31.5 - 0.82
Cliffs Nat Rs* CLF 32254953 18 - 0.65
Yanzhou Coal* YZC 451229 7.41 - 0.63
Arch Coal* ACI 65712581 4.41 - 0.6
Vale* VALE 19626584 13.51 - 0.59
Walter Energy* WLT 4442606 7.42 - 0.49


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