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TABLE OF CONTENTS Nov 11 - 17, 2013 Volume 99 Number 39 - 0 comments

U.S. markets, Oct. 28 - Nov. 1

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2013-11-06

U.S. markets gained momentum during the trading week as investors assessed corporate earnings. The Dow Jones Industrial Average advanced 45 points to 15,615.55. The broader S&P 500 Index edged up nearly 2 points to 1,761.64. The Nasdaq Composite Index slipped 21 points to 3,922.04. The spot price for gold plunged US$37.1 per oz. to US$1,315.80. 

Barrick Gold was the most actively traded stock, with 121.5 million shares changing hands after the world’s biggest gold producer unveiled a US$3-billion equity offering to reduce its debt. Barrick is offering 163.5 million shares at US$18.35 apiece and another 24.5 million at the same price, for net proceeds of US$3.45 billion if the over-allotment option is fully exercised. 

The debt-laden miner has also halted construction at its Pascua-Lama gold mine in Chile and Argentina, and expects to save up to US$1 billion in spending next year. The suspension affected Silver Wheaton, which has a streaming agreement for 25% of the mine’s silver output, and Royal Gold, which holds a sliding scale net smelter return royalty on the Chilean side of the project. Royal Gold dropped US$5.74 to US$48.06 and Silver Wheaton fell US$2.94 to US$22.01. Barrick lost US$2.86 to US$18.01, despite reporting an adjusted profit of US$580 million, or US58¢ a share, during the third quarter. 

Mesabi Trust, which receives a royalty on the iron ore shipped from its trust lands, including Cliffs Natural Resources’ Peter Mitchell mine in Minnesota, was the biggest value and percentage gainer, up 15.4%, or US$3.11, to US$23.26. The boost likely resulted from Cliffs’ announcement to expand production at the mine in 2014, as it entered pellet-supply contracts with two of its U.S. iron ore customers. The global miner predicts its U.S. iron-ore sales will increase next year to 23 million tons, while maintaining its 2013 U.S. iron-ore sales target at 21 million tons. 

It recently reported a quarterly net income attributable to its shareholders of US$104 million, or US66¢ per diluted share, up from US$85 million, or US59¢ per diluted share, a year ago. Cliffs added 10.4% to end at US$27.34.

U.S. most active issues


    Volume  
Company Symbol (000s) High Low Close Change
Barrick Gold* ABX 121543 20.62 17.87 18.01 - 2.86
Alcoa* AA 113133 9.64 9.15 9.27 + 0.11
Alpha Nat Res* ANR 72323 7.59 6.3 7.43 + 0.46
Arch Coal* ACI 53003 4.39 3.93 4.29 + 0.21
Cliffs Nat Rs* CLF 44831 27.77 24.14 27.34 + 2.58
Kinross Gold* KGC 44118 5.36 4.74 4.82 - 0.54
Freeport McMo* FCX 43639 37.88 36.41 36.78 - 0.26
Newmont Mng* NEM 39388 28.5 25.88 25.98 - 2.24
Goldcorp* GG 33094 27.46 24.14 24.32 - 2.52
Molycorp* MCP 28628 5.2 4.91 5.02 - 0.1

U.S. greatest percentage change


    Volume  
Company Symbol (000s) High Low Close Change
Mesabi Trust* MSB 840 23.47 20 23.26 + 15.4
Alderon Irn O* AXX 152 1.85 1.53 1.71 + 12.5
Cliffs Nat Rs* CLF 44831 27.77 24.14 27.34 + 10.4
US Silica Hld* SLCA 548 35.41 31.9 34.51 + 9.7
CVR Partners* UAN 207 18.64 17.17 18.33 + 7.9
Alpha Nat Res* ANR 72323 7.59 6.3 7.43 + 6.6
SunCoke Engy* SXC 727 20.58 19.1 20.49 + 6.4
Ur-Energy* URG 425 1.2 1.03 1.14 + 5.5
Tasman Mtls* TAS 1197 1.09 0.81 0.97 + 5.4
Arch Coal* ACI 53003 4.39 3.93 4.29 + 5.1
McEwen Mng* MUX 13459 2.5 1.94 1.98 - 22
Alexco Res* AXU 933 1.75 1.3 1.34 - 18.7
Timmins Gold* TGD 410 1.68 1.41 1.41 - 17
Endeavr Silve* EXK 933 4.98 3.93 4 - 15.9
Banro* BAA 2169 0.91 0.75 0.77 - 14.9
First Majesti* AG 2941 12.5 10.8 10.92 - 13.9
Silvercorp Mt* SVM 1376 3.46 2.87 2.94 - 13.7
Barrick Gold* ABX 121543 20.62 17.87 18.01 - 13.7
Rare Elemt Re* REE 2112 2.08 1.78 1.8 - 13.4
Rubicon Mnls* RBY 1671 1.55 1.3 1.31 - 13.2

U.S. greatest value change


Company Symbol Change Close Change
Mesabi Trust* MSB 840080 23.26 + 3.11
US Silica Hld* SLCA 548049 34.51 + 3.06
Cliffs Nat Rs* CLF 44830645 27.34 + 2.58
Alliance Rs P* ARLP 220609 77.36 + 1.72
CVR Partners* UAN 207332 18.33 + 1.35
SunCoke Engy* SXC 726854 20.49 + 1.24
Walter Energy* WLT 3964322 17.24 + 0.76
OM Group* OMG 984125 34.13 + 0.64
MDU Res* MDU 2173275 30.26 + 0.58
Natural Rs Pt* NRP 293181 20.62 + 0.57
Randgold Res* GOLD 3687903 71.48 - 6.33
Royal Gold* RGLD 3323501 48.06 - 5.74
Silver Wheatn* SLW 22227860 22.01 - 2.94
Barrick Gold* ABX 1.22E+08 18.01 - 2.86
Franco-Nevada* FNV 2538646 43.69 - 2.72
Goldcorp* GG 33093570 24.32 - 2.52
Newmont Mng* NEM 39388362 25.98 - 2.24
Agnico-Eagle* AEM 8951582 28.9 - 2.19
Compass Mnls* CMP 201290 75.21 - 1.97
Central GoldT* GTU 275160 46.27 - 1.82


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