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 Jan 6 - 12, 2014 Volume 99 Number 47 - 0 comments

U.S. markets, Dec. 16-20

TEXT SIZE bigger text smaller text
2014-01-01

American markets continued their historic march for the period, with year-end selling not yet taking hold. The Dow Jones Industrial Average was up 462 points to 16,221.14 points, The S&P 500 was up 41 points to 1,818.32 and the Nasdaq Composite Index was up 85 points to 4,104.74 points.

The momentum came on the back of the Federal Reserve’s decision to modestly cut back on its quantitative easing program. While this may seem like bad news for investors, by removing uncertainty on the matter and by signalling that economic growth was strong enough to enact the measure, the Fed has increased investor confidence. It didn’t hurt that the Fed emphasized that short-term rates wouldn’t be going up.

Investors couldn’t make up their minds about the value of Northern Dynasty Minerals’ shares. Anticipating good news, investors bid up the company’s stock by 43% to US$1.63, making it the highest gainer in percentage points for the period. But when word came down on Dec. 23 that Rio Tinto told the company’s management that it might sell its 19.1% stake in the company, it wasn’t the news all the buyers of the shares were hoping for. Northern Dynasty shares abruptly reversed direction and were off 18% to US$1.34 at press time. The company is looking to develop the copper–gold–molybdenum Pebble project in southwest Alaska. On Dec. 13 it announced it had bought Anglo American’s stake in the project, giving it whole ownership.

Brigus Gold’s shares also got a lift, but held on to its gains. The company’s shares were up 23% to US74¢ per share, with the move in the right direction coming courtesy of a friendly $220-million offer from Primero Mining. The offer calls for Brigus shareholders to get 0.175 of a Primero share for each share held, as well as a 0.1 share in a spin-out company that would host Brigus’ Goldfields project in Saskatchewan, and the Ixhuatan and Huizopa projects in Mexico. The spin-out would begin with $10 million in cash. On a per-share basis the offer values Brigus at 91¢ a share — a 43% premium to Brigus’ 20-day, volume-weighted average trading price.

U.S. most active issues


    Volume  
Company Symbol (000s) High Low Close Change
Alcoa* AA 108935 10.08 9.51 9.94 + 0.43
Barrick Gold* ABX 98415 17.38 16.44 16.58 - 0.16
Kinross Gold* KGC 67299 4.68 4.24 4.28 - 0.31
Newmont Mng* NEM 57092 23.65 22.34 22.64 - 0.64
Arch Coal* ACI 56169 4.36 4.02 4.3 + 0.15
Goldcorp* GG 50474 21.94 20.54 20.92 - 0.14
Alpha Nat Res* ANR 47438 6.71 6.21 6.43 + 0.11
Freeport McMo* FCX 43758 35.75 34.35 35.69 + 1.35
Gold Fields* GFI 40808 3.54 2.92 3.09 - 0.32
Cliffs Nat Rs* CLF 36872 25.17 23.21 24.21 + 0.7

U.S. greatest percentage change


    Volume  
Company Symbol (000s) High Low Close Change
Northern Dyn* NAK 2451 1.68 1.17 1.63 + 42.9
Brigus Gold* BRD 1734 0.82 0.74 0.74 + 23.3
North Am Pall* PAL 20412 0.51 0.41 0.5 + 14.1
Rhino Res* RNO 57 11.49 9.87 11.41 + 12
Amcol Intl* ACO 360 33.35 30.2 33.32 + 10.7
Western Coppr* WRN 160 0.57 0.51 0.57 + 10.2
Revett Mnls* RVM 616 0.76 0.63 0.7 + 9.3
Mechel* MTL 1376 2.49 2.23 2.44 + 8.9
Uranium Ener* UEC 1731 1.9 1.65 1.79 + 7.8
Intrepid Pots* IPI 1264 15.7 14.4 15.67 + 7.4
Banro* BAA 4705 0.57 0.43 0.43 - 19.2
Alexco Res* AXU 2368 1.4 1.16 1.2 - 13.6
Golden Star* GSS 10922 0.47 0.39 0.39 - 12.4
Rare Elemt Re* REE 3846 1.4 1.1 1.2 - 11.7
Asanko Gold* AKG 160 2.03 1.58 1.79 - 11.3
Primero Mng* PPP 292 4.69 4.32 4.39 - 10.5
Pretium Res* PVG 5278 5.7 5.01 5.09 - 10
Tanz Roy Exp* TRX 2323 2.02 1.68 1.71 - 9.5
Gold Fields* GFI 40808 3.54 2.92 3.09 - 9.3
Midway Gold* MDW 1393 0.86 0.76 0.77 - 8.4

U.S. greatest value change


Company Symbol Change Close Change
Compass Mnls* CMP 745178 78.83 + 4.75
Amcol Intl* ACO 360238 33.32 + 3.22
BHP Billi-BHP* BHP 10959452 65.99 + 2.25
Rio Tinto* RIO 2060658 53.83 + 2.05
BHP Billi-BBL* BBL 3622919 59.16 + 2.01
Cabot Corp* CBT 1818961 50.6 + 1.95
Mosaic* MOS 15762761 45.72 + 1.75
Teck Res B* TCK 9201059 24.67 + 1.68
Freeport McMo* FCX 43757647 35.69 + 1.35
Agrium* AGU 638296 90.64 + 1.24
Randgold Res* GOLD 4504246 61.2 - 2.88
Central GoldT* GTU 607375 41.86 - 1.3
Royal Gold* RGLD 4400932 44.06 - 1.26
Agnico-Eagle* AEM 11703983 25.19 - 1.18
Tahoe Res* TAHO 149401 15.72 - 0.73
Newmont Mng* NEM 57091895 22.64 - 0.64
Silver Wheatn* SLW 25230708 19.74 - 0.62
Alamos Gold* AGI 2449848 11.41 - 0.61
Pretium Res* PVG 5278234 5.09 - 0.57
AngloGold Ash* AU 18313973 11.24 - 0.56


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

Related News
Dundee: Gold miners continue to wrestle with costs
Primero misses Q3 expectations on impairment charge
Volatility hits US stocks, Oct. 13-17
Related Press Releases
North American Palladium Provides Update on Ramp-Up Progress at Lac des Iles Mine
Primero Provides San Dimas and Regional Exploration Update; Extends Top Producing Vein at San Dimas
Primero Reports Third Quarter 2014 Results
 



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