FREE ARTICLE PREVIEW: You are enjoying a free sample of
exclusive subscriber content. There is a limit of one free article per week.

TABLE OF CONTENTS Feb 3 - 9, 2014 Volume 99 Number 51 - 0 comments

U.S. markets, Jan. 20-24

TEXT SIZE bigger text smaller text
2014-01-29

Investors soured on U.S. equities over the holiday-shortened period, as the Dow Jones Industrial Average fell 580 points to 15,879.11, the S&P 500 Index lost 51 points to 1,790.29 and the Nasdaq Composite Index was off 94 points to 4,128.17.

The selling stemmed from fears of slowing economic growth in China and expectations that the U.S. Federal Reserve would scale back its stimulus program.

Despite the drop in the general market, gold was up US$12 per oz. to finish at US$1,264.30 per oz. The surge is connected to a drop in U.S. real interest rates, with investors typically turning to the metal when inflation-adjusted yields drop.

Gold’s improved status filtered through to miners, as the top-five list of market gainers by dollar value was crowded with gold names such as Randgold Resources, Royal Gold, Franco-Nevada and Agnico Eagle Mines

The momentum in the metal price meant that not even a looming strike could get in the way of AngloGold Ashanti. The gold miner’s shares were up 58¢ to US$14.10 during the period despite confirmation that the Association of Mineworkers and Construction Union (AMCU) in South Africa intended to call a strike. The threatened strike is connected to wage negotiations that concluded last September, with a separate union representing most of the workers accepting the deal. But AMCU — which represents 17% of the miner’s South African workers — did not accept the deal.

Minco Gold shares were the largest gainers by percentage points, with the company set to start a drill campaign on the Clementine West base-metal sulphide prospect in central Newfoundland.

Shares of Tasman Metals were among the worst performing for the period, dropping 15% to $1.08. Investors were apparently reacting to equity dilution, as the company announced a private placement that priced each new unit at $1.10 — made up of a stock and a warrant with a $1.50 strike price. Equity issuance raised $5 million for company coffers, which Tasman says will be put to work at its Norra Karr rare-metal projects in southern Sweden.

U.S. most active issues

    Volume Week
    (000s) High Low Close Change
Alcoa* AA 302940 12.32 11.4 11.44 + 0.08
Barrick Gold* ABX 70783 19.95 18.62 19.03 + 0.26
Freeport McMo* FCX 70647 36.03 32.5 32.77 - 3.42
Alpha Nat Res* ANR 52140 6.46 5.71 5.83 - 0.49
Cliffs Nat Rs* CLF 42271 22.07 19.18 19.33 - 3.1
Kinross Gold* KGC 40207 4.86 4.56 4.65 - 0.09
Newmont Mng* NEM 39644 25.65 24.09 24.88 + 0.33
Goldcorp* GG 36224 24.57 22.88 24.05 + 0.88
Potash C Sask* POT 32642 34.15 31.7 31.74 - 2.43
Arch Coal* ACI 31834 4.34 4.05 4.11 - 0.21

U.S. greatest percentage change

    Volume Week
    (000s) High Low Close Change
Minco Gold* MGH 1906 0.39 0.23 0.36 + 51.9
Timberline Rs* TLR 2398 0.24 0.16 0.22 + 33.5
Golden Star* GSS 19029 0.76 0.54 0.69 + 30.4
Mines Managem* MGN 554 0.85 0.59 0.75 + 22.9
Gold Std Vnt* GSV 961 0.83 0.65 0.79 + 22.1
Avino Silver* ASM 622 1.69 1.33 1.55 + 22
Loncor Res* LON 129 0.16 0.11 0.13 + 17.1
Richmont Mine* RIC 1057 1.53 1.34 1.5 + 15.3
Rubicon Mnls* RBY 5426 1.35 1.09 1.23 + 13.8
North Am Pall* PAL 17113 0.73 0.58 0.63 + 13.6
Walter Energy* WLT 5834 13.87 11.24 11.35 - 18.7
Tasman Mtls* TAS 776 1.33 1.03 1.08 - 14.9
Thompson Crk* TC 1777 2.96 2.53 2.53 - 14.5
Cliffs Nat Rs* CLF 42271 22.07 19.18 19.33 - 13.8
Alamos Gold* AGI 2523 10.3 8.88 9.07 - 10.9
Freeport McMo* FCX 70647 36.03 32.5 32.77 - 9.4
Timmins Gold* TGD 3638 1.57 1.29 1.35 - 9.4
Mechel* MTL 1847 2.24 1.99 2.02 - 9
Iamgold* IAG 5886 4.16 3.58 3.7 - 8.8
Yanzhou Coal* YZC 958 8.23 7.44 7.5 - 8.7

U.S. greatest value change

    Week
    Change Close Change
Randgold Res* GOLD 3971031 70.11 + 4.79
Royal Gold* RGLD 4036416 55.99 + 2.38
Franco-Nevada* FNV 3753363 47.05 + 2.1
Agnico-Eagle* AEM 12812930 30.92 + 1.56
Minas Buenavn* BVN 8961885 13.31 + 1.03
Goldcorp* GG 36223878 24.05 + 0.88
Hi-Crush Part* HCLP 91417 36.83 + 0.71
PVR Partners* PVR 341388 27.29 + 0.62
AngloGold Ash* AU 14030374 14.1 + 0.58
Cloud Peak En* CLD 1171800 18.05 + 0.55
Agrium* AGU 650148 89.19 - 4.69
Cabot Corp* CBT 1129313 47.64 - 4.17
BHP Billi-BHP* BHP 11030626 62.99 - 4.06
Rio Tinto* RIO 2176850 51.18 - 3.86
Freeport McMo* FCX 70646861 32.77 - 3.42
BHP Billi-BBL* BBL 2887342 58.36 - 3.36
Mosaic* MOS 15583011 45.38 - 3.16
Cliffs Nat Rs* CLF 42271100 19.33 - 3.1
Walter Energy* WLT 5834027 11.35 - 2.61
Potash C Sask* POT 32641778 31.74 - 2.43


© 1915 - 2014 The Northern Miner. All Rights Reserved.





Horizontal ruler
Horizontal Ruler

Post A Comment

Disclaimer
Note: By submitting your comments you acknowledge that Northern Miner has the right to reproduce, broadcast and publicize those comments or any part thereof in any manner whatsoever. Please note that due to the volume of e-mails we receive, not all comments will be published and those that are published will not be edited. However, all will be carefully read, considered and appreciated.

Your Name (this will appear with your post) *

Email Address (will not be published) *

Comments *



* mandatory fields