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

TABLE OF CONTENTS May 26 - Jun 1, 2014 Volume 100 Number 15 - 0 comments

U.S. markets make slight gains on mixed data, May 12-16

TEXT SIZE bigger text smaller text
2014-05-21

With mixed economic news during the trading week, market participants tended towards a bullish interpretation. Despite the Dow Jones Industrial Average being down 73 points to 16,511.86, the S&P 500 Index fared better, swinging positive and gaining 5 points to close out at 1,885.08. The Nasdaq similarly eked out a 33-point gain, reaching 4,125.82 for the period.

Inflation for April rose only modestly, but the move was expected, so its effect on valuations was negligible. Initial jobless claims came in at a lower level than analyst forecasts and there was strength in a manufacturing survey for the New York region. Unease remains over whether the long-awaited correction in the equities market is approaching.

Uranium Energy was the period’s big gainer ahead of news it is acquiring the Longhorn in-situ recovery project in Texas. The company’s stock was up 63% to US$1.61 before it acquired the project, which sits in an area that has produced over 30 million lb. uranium oxide in its history. The project’s aquifer exemption eliminates a major permitting hurdle.

Gold Resource was the next big percentage gainer, as its stock was up 20% to US$4.30. The miner has been fighting lower precious-metal prices with more production and lower costs than the year before. The Mexico-focused gold miner produced 23,734 equivalent oz. gold at cash costs of US$422 per oz. gold, compared to 22,000 oz. produced last year for US$515 per oz. It has distributed its monthly dividend and boosted its treasury by US$4.5 million. 

Compass Minerals International rounded out the week’s noteworthy gainers. The salt, potash and magnesium chloride producer was up US$2.55 to US$93.11, after JPMorgan Chase & Co. bumped up its rating to “overweight” from “neutral,” while pushing the target price up to US$99 from the previous US$76 level. At the end of April Compass reported solid earnings of US$1.49 earnings per share for the first quarter, beating the consensus estimate of US$1.42 per share.

U.S. most active issues


    Volume  
Company Symbol (000s) High Low Close Change
Alcoa* AA 75536 13.95 13.1 13.45 + 0.2
Freeport McMo* FCX 52312 35.88 34.46 34.99 + 1.08
Alpha Nat Res* ANR 42779 4.63 4.15 4.17 - 0.12
Molycorp* MCP 39581 3.2 2.71 2.92 - 0.13
Barrick Gold* ABX 38516 17.6 16.51 16.62 - 0.61
Peabody Enrgy* BTU 37303 19.63 18.62 18.79 + 0.13
Kinross Gold* KGC 30621 4.13 3.92 3.93 - 0.12
Arch Coal* ACI 26090 4.45 4.08 4.08 - 0.15
Potash C Sask* POT 23771 37.46 36.13 36.95 + 0.91
Hecla Mining* HL 19970 3.18 3 3.04   0

U.S. greatest percentage change


    Volume  
Company Symbol (000s) High Low Close Change
Uranium Ener* UEC 8110 1.61 1 1.61 + 62.6
Gold Resource* GORO 7210 4.79 3.52 4.3 + 20.4
Northern Dyn* NAK 969 0.73 0.61 0.73 + 19.3
Paramount Gld* PZG 4736 1.09 0.91 1.03 + 14.4
Solitario Ex&* XPL 148 1.15 1 1.1 + 13.4
Uranerz Energ* URZ 1713 1.43 1.21 1.36 + 11.4
Thompson Crk* TC 2299 3.08 2.68 2.9 + 11.1
General Moly* GMO 1239 1.07 0.94 1.06 + 10.4
Pretium Res* PVG 2989 7.7 6.6 7.24 + 10.2
Western Coppr* WRN 299 0.96 0.89 0.96 + 9.9
Goldfield* GV 1461 2.31 1.62 1.65 - 20.9
Golden Star* GSS 4349 0.6 0.5 0.51 - 12.3
Intl Tower Hi* THM 166 0.64 0.58 0.59 - 8.9
Alderon Irn O* AXX 160 1.47 1.19 1.3 - 8.4
Silver Std Re* SSRI 6602 8.54 7.5 7.72 - 8.3
Dejour Enterp* DEJ 390 0.24 0.21 0.21 - 5.9
Soc Quim&M Ch* SQM 5556 30.73 27.01 28.53 - 5.2
Walter Energy* WLT 3441 7.08 6.32 6.34 - 5
B2Gold* BTG 5402 2.88 2.63 2.63 - 4.7
Lake Shore Gd* LSG 1727 0.8 0.72 0.74 - 4.5

U.S. greatest value change


Company Symbol Change Close Change
Hi-Crush Part* HCLP 200052 44.96 + 2.63
Compass Mnls* CMP 319577 93.11 + 2.55
US Silica Hld* SLCA 1236915 47.46 + 1.65
BHP Billi-BBL* BBL 2252265 65.66 + 1.48
BHP Billi-BHP* BHP 9352853 70.8 + 1.29
Freeport McMo* FCX 52312422 34.99 + 1.08
Rio Tinto* RIO 1921113 55.18 + 1.06
Stillwater Mg* SWC 10845131 16.29 + 1.05
Potash C Sask* POT 23771051 36.95 + 0.91
Mosaic* MOS 13685177 49.31 + 0.85
Cabot Corp* CBT 2031482 56.53 - 2.03
Soc Quim&M Ch* SQM 5555709 28.53 - 1.59
Royal Gold* RGLD 2114988 63.64 - 1.15
Franco-Nevada* FNV 2193047 48.18 - 0.9
MDU Res* MDU 2737277 33.84 - 0.79
Silver Std Re* SSRI 6601588 7.72 - 0.7
Barrick Gold* ABX 38515528 16.62 - 0.61
Alliance Rs P* ARLP 446673 92 - 0.59
Cameco Corp* CCJ 7506033 19.75 - 0.58
Randgold Res* GOLD 1634310 75.95 - 0.54


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

Related News
US stocks drop, June 23-27
Uranium Energy advances Paraguay projects
Uranium Energy's Slick Rock needs U3O8 rebound to fly
Related Press Releases
Compass Minerals to Acquire Wolf Trax, Inc.
Compass Minerals Updates Guidance at the BMO Capital Markets 2014 Global Metals and Mining Conference
Compass Minerals Reports Fourth-Quarter and Full-Year 2013 Earnings
 



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