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TABLE OF CONTENTS Aug 4 - 10, 2014 Volume 100 Number 25 - 0 comments

U.S. markets unsettled, July 21-25

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2014-07-30

The gold price faltered despite rising geopolitical tension across Europe, and down with it went the Dow Jones Industrial Average, which lost 139.61 points over the week to close at 16,960.57. The S&P 500 fared better, closing almost even at 1,978.34 points.

Gold lost US$20 per oz. before gaining slightly to end at US$1,295 per oz. Copper made opposite moves, gaining early in the week before news of renewed supplies from Indonesia pushed prices back down. The metal finished the week at US$3.23 per lb. Zinc closed the week at US$1.096 per lb. — a three-year high.

Alcoa continued its impressive run, adding a few cents over the week to reach US$16.56. Alcoa shares have more than doubled since October. The aluminum price has helped in recent months, but the producer deserves credit for its success: against a backdrop of weak aluminum prices Alcoa has focused on its downstream business, which includes manufactured aluminum products such as truck wheels and aircraft fuselages.

Six months after suspending copper exports after a new sales tax and more restrictive export rules, Freeport-McMoRan Copper & Gold reached a deal with the Indonesian government to resume copper shipments in August. The company reported US$482 million in profits for the second quarter. Over the week Freeport shares sank 1% to close at US$37.99.

Arch Coal idled Cumberland River, a coal complex comprising two underground mines and related facilities that straddles the Virginia–Kentucky border. The company attributed the closure to the challenging metallurgical coal market. Arch Coal fell US23¢ over the week to US$2.89.

Cliffs Natural Resources ended the week up US25¢ at US$16.09 on news of reduced capital spending and lower projected production costs. The iron ore and coal producer lost US$2-million in the second quarter, but said its year-over-year capital spending was down 77%. It had been battling Casablanca Capital, which owns 5.2% of Cliffs’ stock and was on the verge of supplanting Cliffs’ board, after what Casablanca calls the “destruction of US$9 billion in value at Cliffs.” Shareholders sided with Casablance in the July 29 voting. 

U.S. most active issues


    Volume  
Company Symbol (000s) High Low Close Change
Alcoa* AA 113452 17.22 16.36 16.56 + 0.07
Freeport McMo* FCX 55137 39.05 37.3 37.99 - 0.36
Peabody Enrgy* BTU 44249 15.89 14.85 14.99 - 0.72
Barrick Gold* ABX 37807 19.23 18.2 18.68 - 0.51
Kinross Gold* KGC 31717 4.21 4 4.12 - 0.07
Arch Coal* ACI 31472 3.13 2.84 2.89 - 0.23
Alpha Nat Res* ANR 29001 3.39 3.14 3.29 + 0.01
Cliffs Nat Rs* CLF 28225 16.18 14.88 16.09 + 0.25
Newmont Mng* NEM 24691 25.6 24.6 25.15 - 0.27
Hecla Mining* HL 22732 3.35 3.12 3.31   0

U.S. greatest percentage change


    Volume  
Company Symbol (000s) High Low Close Change
Oxford Res P* OXF 76 0.94 0.75 0.85 + 16.4
Molycorp* MCP 15145 2.18 1.81 2.14 + 14.4
SinoCoking Cl* SCOK 1876 2.05 1.62 1.89 + 13.8
Alum Cp China* ACH 289 11.26 9.9 11.16 + 12.7
PolyMet Mng* PLM 917 1.2 1.08 1.2 + 11.1
Gold Std Vnt* GSV 298 0.74 0.67 0.74 + 10.7
Uranium Ener* UEC 549 1.69 1.5 1.69 + 9.7
US Energy* USEG 1053 4.46 3.86 4.27 + 9.4
Yanzhou Coal* YZC 520 8.12 7.31 8.06 + 8.6
Augusta Res* AZC 232 3.73 3.36 3.67 + 8.2
Pretium Res* PVG 5226 8.34 6.85 6.98 - 15.9
Banro* BAA 7425 0.3 0.26 0.27 - 11.3
Golden Star* GSS 7429 0.57 0.49 0.51 - 10.5
Rubicon Mnls* RBY 4514 1.7 1.37 1.45 - 10.4
Seabridge Gld* SA 779 9.11 7.98 8.31 - 7.8
Almaden Mnls* AAU 1014 1.5 1.27 1.36 - 7.4
Arch Coal* ACI 31472 3.13 2.84 2.89 - 7.3
Timberline Rs* TLR 401 0.15 0.13 0.13 - 7.1
Midway Gold* MDW 465 0.94 0.83 0.87 - 6.4
Quest Rare Mn* QRM 1147 0.24 0.22 0.22 - 6.3

U.S. greatest value change


Company Symbol Change Close Change
Alliance Rs P* ARLP 1136811 48.65 + 2.16
US Silica Hld* SLCA 897109 60.45 + 2.16
BHP Billi-BBL* BBL 1357934 70.55 + 1.84
Rio Tinto* RIO 1732038 58.24 + 1.73
Compass Mnls* CMP 260778 94.62 + 1.62
SunCoke Engy* SXC 712338 23.29 + 1.31
Franco-Nevada* FNV 1477443 57.69 + 1.3
Alum Cp China* ACH 289449 11.16 + 1.26
BHP Billi-BHP* BHP 6125229 73.23 + 1.16
Hi-Crush Part* HCLP 176484 66.08 + 1.11
Consol Energy* CNX 10615870 40.01 - 1.68
Pretium Res* PVG 5226004 6.98 - 1.32
OM Group* OMG 448838 29.69 - 0.99
Central GoldT* GTU 155735 45.9 - 0.79
Peabody Enrgy* BTU 44249254 14.99 - 0.72
Seabridge Gld* SA 778625 8.31 - 0.71
Mosaic* MOS 11689665 47.1 - 0.69
Intrepid Pots* IPI 719993 14.56 - 0.53
Barrick Gold* ABX 37807419 18.68 - 0.51
Coeur Mng* CDE 5953296 8.33 - 0.44


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