Midway through trading Friday, the Dow traded down 0.80 percent to 16,947.71 while the NASDAQ tumbled 0.70 percent to 4,440.96. The S&P also fell, dropping 0.52 percent to 1,977.69.
Leading and Lagging Sectors
Basic materials shares gained 0.10 percent in trading on Friday. Meanwhile, top gainers in the sector included DRDGOLD (NYSE: DRD), up 7.4 percent, and LyondellBasell Industries NV (NYSE: LYB), up 4.5 percent.
Top Computer Hardware Companies To Watch In Right Now: Thompson Creek Metals Company Inc.(TC)
Thompson Creek Metals Company Inc., through its subsidiaries, engages in mining, milling, processing, and marketing molybdenum products in the United States and Canada. The company?s principal properties include the Thompson Creek Mine and mill in Idaho; a metallurgical roasting facility in Langeloth, Pennsylvania; and a joint venture interest in the Endako Mine, mill, and roasting facility in British Columbia. It also holds interests in development projects comprising the Davidson molybdenum property and the Berg copper-molybdenum-silver property located in northern British Columbia; the Howard?s Pass property, a lead and zinc project situated in the Yukon territory-northwest territories border; and the Maze Lake property, a gold project located in the Kivalliq district of Nunavut. The company produces molybdenum products, primarily molybdic oxide and ferromolybdenum, as well as soluble technical oxide, pure molybdenum tri-oxide, and high purity molybdenum disulfide. As o f December 31, 2010, its consolidated recoverable proven and probable ore reserves totaled 462.2 million pounds of contained molybdenum in the Thompson Creek Mine and the Endako Mine. The company was formerly known as Blue Pearl Mining Ltd. and changed its name to Thompson Creek Metals Company Inc. in May 2007. Thompson Creek Metals Company Inc. is based in Denver, Colorado.
Advisors' Opinion:- [By Jon C. Ogg]
Thompson Creek Metals Co. Inc. (NYSE: TC) was at 54% discount to its book value of $8.30 per share at the time, and the stock price of $3.90 is up from $3.03 Deutsche Bank’s team nailed upside of more than 28% here. Its price target was $4 at the time versus a consensus target of $4.50 at the time. The 52-week range here is $2.42 to $4.55, but we would point out that the consensus price target is $3.93.
- [By Garrett Cook]
Monday morning, the basic materials sector proved to be a source of strength for the market. Leading the sector was strength from AK Steel Holding (NYSE: AKS) and Thompson Creek Metals Company (NYSE: TC).
- [By Garrett Cook]
Monday morning, the basic materials sector proved to be a source of strength for the market. Leading the sector was strength from AK Steel Holding (NYSE: AKS) and Thompson Creek Metals Company (NYSE: TC).
Best Gold Companies To Own For 2014: Goldcorp Incorporated(GG)
Goldcorp Inc. engages in the acquisition, exploration, development, and operation of precious metal properties in Canada, the United States, Mexico, and Central and South America. It produces and sells gold, silver, copper, lead, and zinc. The company was founded in 1954 and is headquartered in Vancouver, Canada.
Advisors' Opinion:- [By Matt DiLallo]
Gold stocks have been hit particularly hard so far this year. Investors in gold miners such as Goldcorp (NYSE: GG ) and Yamana Gold (NYSE: AUY ) have been crushed, with the stocks down by 34% and 45%, respectively. The big culprit here is that gold has completely lost its luster with investors. The shiny metal fell to a three-year low of under $1,200 an ounce. In the second quarter alone, the price of gold dropped by more than $400 an ounce, a 25% plunge. The following chart shows just how bad it's been for gold miners.
- [By Daniel Gibbs]
Senior gold miners
Another way to profit from rising gold prices is to invest in the producers. One advantage that investing in mining companies can have over the purchase of physical gold is the ability to derive cash flow from your investment. The only way to profit off of an investment in physical gold is to sell it for a higher price than what you bought it for. Mining companies, however, do generate cash, and in many cases the mining company returns some of this cash to investors in the form of a dividend. For example,�Goldcorp (NYSE: GG ) , one of the largest gold miners in the world, pays a trailing dividend of $0.60 per share. This is a 2.10% yield at the current stock price. - [By Sean Williams]
If you're willing to roll the dice even further, my suggestion would be to look at the two most cost-efficient gold miners: Yamana Gold (NYSE: AUY ) and Goldcorp (NYSE: GG ) . Both Yamana and Goldcorp stood atop my top-performing gold miners leaderboard in the first-quarter thanks to extremely low mining costs associated with byproduct metal sales. Yamana has been particularly strong, turning in remarkable production growth, while Goldcorp offers investors one of the lowest debt-to-equity ratios in the sector thanks to its strong operating cash flow. To add, Yamana and Goldcorp both offer yields of 2% and are valued at just 10 and nine times forward earnings estimates.
- [By Rich Smith]
Today's high cash-cost of digging through 9.4 tons of dirt in hopes of extracting a golf-ball's weight of pure gold explains why most of the major gold miners -- from low-cost producer Barrick, all the way up through Kinross (NYSE: KGC ) , Newmont (NYSE: NEM ) and Goldcorp (NYSE: GG ) -- are currently in a negative free cash flow state. (Well, the high cost plus the relatively lower prices that miners are getting for their gold today).
Best Gold Companies To Own For 2014: Agnico-Eagle Mines Limited(AEM)
Agnico-Eagle Mines Limited, through its subsidiaries, engages in the exploration, development, and production of mineral properties in Canada, Finland, and Mexico. The company primarily explores for gold, as well as silver, copper, zinc, and lead. Its flagship property includes the LaRonde mine located in the southern portion of the Abitibi volcanic belt, Canada. The company was founded in 1953 and is based in Toronto, Canada.
Advisors' Opinion:- [By Charley Blaine]
Gold mining stocks are pretty much a disaster. Newmont Mining (NYSE: NEM) is down 50 percent in 2013. Agnico Eagle Mines (NYSE: AEM) is off 51 percent. The NYSE Arca Gold BUGS Index is down 56 percent.
- [By Dan Caplinger]
In the longer term, IAMGOLD could potential challenges from higher taxes on some of its holdings. The Canadian province of Quebec is considering changing the current 16% profit tax either to what amounts to a gross revenue tax or to a more progressive profit tax with higher rates on high-margin mining operations. Under current conditions, those taxes might not have much effect either on IAMGOLD or rivals Agnico-Eagle (NYSE: AEM ) and Goldcorp (NYSE: GG ) , both of which also have projects in the province, but it's hard to predict how a changes might affect future results if they take effect.
- [By Daniel Putnam]
The second factor working in gold stocks��favor is that analysts are growing optimistic again. Yesterday, HSBC put out a bullish note on gold and upgraded Agnico Eagle Mines (AEM), Yamana Gold (AUY), Barrick Gold, Iamgold (IAG), and Goldcorp. Most gold stocks are ranked ��old��or ��uy��(as opposed to ��trong Buy�� by the majority of analysts, meaning that there�� plenty of room for continued positive news flow on this front.
- [By GuruFocus]
George Soros (Trades, Portfolio) just reported his first quarter portfolio. He buys Citrix Systems Inc, Baker Hughes Inc, Comcast Corp, Spansion Inc, etc during the 3-months ended 03/31/2014, according to the most recent filings of his investment company, Soros Fund Management LLC. As of 03/31/2014, Soros Fund Management LLC owns 305 stocks with a total value of $10.1 billion. These are the details of the buys and sells.New Purchases: BHI, CODE, CTRP, CLI, AVB, COMM, CNQ, AGO, AUY, ATML, ASH, BXMT, CSTM, AEM, CMA, ARE, CHKP, AUQ, BEAV, CX, ADSK, AALCP, BLK, AIG, BIIB, ADEP, AMRI, ARWR, ATHX, BALT, BCRX, BEAT, CFX, CLFD, CUR, CODE,Added Positions: CTXS, CMCSA, CNP, ALTR, BRCD, CBS, CRM, CHTR, CCJ, CIEN, BIDU, ALLE, ABT, CDNS, ACT,Reduced Positions: AAPL, CCI, AMT, ABBV, AAL, BITA, AL, ANGI, ARIA, CBST, BA, BIRT, EXAR,Sold Out: C, BAC, CRI, AMZN, AGN, CF, BRCM, COTY, BMY, AMCX, CAR, A, ADBE, AFL,For the details of George Soros (Trades, Portfolio)'s stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=George+SorosThis is the sector weightings of his portfolio:Technology18.9%Energy14%Healthcare8.3%Consumer Defensive8.2%Communication Services8.1%Consumer Cyclical5.4%Industrials5.1%Basic Materials4.9%Financial Services2.5%Real Estate1.9%Utilities0.5%These are the top 5 holdings of George Soros (Trades, Portfolio)1. Teva Pharmaceutical Industries Ltd (TEVA) - 10,310,041 shares, 5.4% of the total portfolio. Shares added by 10.67%2. Herbalife Ltd (HLF) - 4,901,337 shares, 2.8% of the total portfolio. Shares added by 52.9%3. EQT Corp (EQT) - 2,573,814 shares, 2.5% of the total portfolio. Shares added by 3.27%4. Adecoagro SA (AGRO) - 25,915,076 shares, 2.1% of the total portfolio.5. Halliburton Co (HAL) - 3,596,353 shares, 2.1% of the total portfolio. Shares reduced by 20.73%New Purchase: Baker Hughes Inc (BHI)George Soros (Trades, Portfolio) initiated holdings in Baker Hughes Inc. His purchase prices were between $51.82 and $65.27, with an estimated
Best Gold Companies To Own For 2014: Iamgold Corporation(IAG)
IAMGOLD Corporation, together with its subsidiaries, engages in the exploration, development, and production of mineral resource properties worldwide. It primarily explores for gold, silver, zinc, copper, niobium, diamonds, and other metals. The company holds interests in eight operating gold mines, a niobium producer, a diamond royalty, and exploration and development projects located in Africa and the Americas. Its advanced exploration and development projects include the Westwood project in Canada; and the Quimsacocha project, which consists of 3 mining concessions covering an aggregate area of approximately 8,030 hectares in Ecuador. The company was formerly known as IAMGOLD International African Mining Gold Corporation and changed its name to IAMGOLD Corporation in June 1997. IAMGOLD Corporation was founded in 1990 and is based in Toronto, Canada.
Advisors' Opinion:- [By Eric Volkman]
IAMGOLD (NYSE: IAG ) might specialize in a precious metal, but it's continuing to pay its dividend in hard currency. The company has declared its latest semi-annual distribution at $0.125 per share of its common stock.
- [By Namitha Jagadeesh]
HSBC Holdings Plc (HSBA), Europe�� largest bank, slid 2.1 percent. International Consolidated Airlines Group SA (IAG) declined 2 percent as it canceled some of its flights following a disruption caused by one of its planes at Heathrow airport. Next Plc (NXT) retreated 2.4 percent as Morgan Stanley cut its recommendation on the shares.
- [By Namitha Jagadeesh]
International Consolidated Airlines Group SA (IAG) and Air France-KLM (AF) Group rose with as a gauge of travel stocks as oil prices fell after Iran�� accord. PSA Peugeot Citroen gained 3.7 percent after people familiar with the matter said its chief executive officer plans to step down next year. Fresenius Medical Care AG surged the most in five years after U.S. regulators scrapped a plan to cut Medicare payments next year.
- [By Rich Duprey]
IAMGOLD (NYSE: IAG ) still has an interest in the�Quimsacocha gold mine it sold to INV Metals last year, which has an indicated mineral resource estimated at 3.3 million ounces gold. China's�Ecuacorriente is also pursing a major copper project at Panantza-San Carlos, and International Minerals will seek out gold and silver at Rio Blanco.
Best Gold Companies To Own For 2014: Australian Dollar(AU)
AngloGold Ashanti Limited primarily engages in the exploration and production of gold. It also produces silver, uranium oxide, and sulfuric acid. The company conducts gold-mining operations in South Africa; continental Africa, including Ghana, Guinea, Mali, Namibia, and Tanzania; Australia; and the Americas, which include Argentina, Brazil, and the United States. It also has mining or exploration operations in the Democratic Republic of the Congo, Guinea, and Colombia. As of December 31, 2010, the company had proved and probable gold reserves of 71.2 million ounces. The company has a strategic alliance with Thani Dubai Mining Limited to explore, develop, and operate mines across the Middle East and parts of North Africa. AngloGold Ashanti Limited, formerly known as Vaal Reefs Exploration and Mining Company Limited, was founded in 1944 and is headquartered in Johannesburg, South Africa.
Advisors' Opinion:- [By Jim Powell]
In addition to holding Goldcorp and Barrick Gold, the fund tracks the performance of Newmont Mining (NEM), Newcrest Mining (NCMGY), AngloGold Ashanti (AU), and several other industry leaders.
- [By Rich Duprey]
Considering the work stoppages and violent clashes that have become the norm at South African precious-metals mines, perhaps the miners were wondering exactly what they were getting for their money. An expose by South Africa's Daily Maverick has uncovered a system where miners such as AngloGold Ashanti (NYSE: AU ) and BHP Billiton (NYSE: BHP ) surreptitiously paid for the salaries of the heads of the local mining unions to keep the mine workers in line, and it's only because the miners sought to end the "uncomfortable arrangement" with the unions that the matter came to light.
- [By Profit Confidential]
Graham Ehm, Executive Vice President of South African-based AngloGold Ashanti Limited (NYSE: AU), one of the biggest gold producers in the global economy, stated the company is looking to save $500 million over the next 18 months, as capital expenditures will only be going towards their highest-quality assets. (Source: Mining Weekly, August 5, 2013.)
Best Gold Companies To Own For 2014: Sibanye Gold Ltd (SBGL)
Sibanye Gold Limited (Sibanye Gold), formerly GFI Mining South Africa (Pty) Limited, incorporated on December 12, 2002, is a producer of gold in South Africa. Sibanye Gold is primarily engaged in underground and surface gold mining and related activities, including extraction, and processing. Sibanye Gold�� operations are located in South Africa. Its principal mining operations include Kloof-Driefontein Complex (KDC) and Beatrix. Exploration activities are focused on the extension of existing ore bodies and identification of new ore bodies at existing sites. As of January 10, 2013, Sibanye Gold mined only gold, with silver as a by-product.
KDC Operation
The KDC mine is located in the Gauteng Province of South Africa in the Far West Rand mining district, some 60 kilometers southwest of Johannesburg. KDC consists of the Driefontein and Kloof mines. As of January 10, 2013, KDC is consisted of 13 producing shaft systems that mine different contributions from pillars and open ground and five gold plants of which two process mainly underground ore and three process mainly surface material. Driefontein is situated some 70 kilometers west of Johannesburg. Kloof is situated in the Magisterial District of Westonaria, some 60 kilometers west of Johannesburg.
Beatrix Operation
The Beatrix operation is located in the Free State Province of South Africa, some 240 kilometers southwest of Johannesburg, near Welkom and Virginia, and consists of the Beatrix mine. Beatrix operates under mining rights covering a total area of approximately 16 800 hectares. As of January 10, 2013, Beatrix had four shaft systems, with five ventilation shafts to provide additional up-cast and down-cast ventilation capacity and is serviced by two metallurgical plants. It is a shallow to intermediate-depth mining operation, at depths between 700 meters and 2 200 meters below surface. The mine has a refrigeration and cooling infrastructure in both its North and West Sections. Beatrix is man! aged as three operational sections: the North Section (consists of Shaft No. 3), the South Section (consists of Shaft No. 2 and Shaft No. 1) and the West Section (consists of Shaft No. 4).
Advisors' Opinion:- [By Lisa Levin]
Gold: This industry jumped 1.20% by 11:40 am. The top performer in this industry was Sibanye Gold (NYSE: SBGL), which rose 3.2%. Gold futures gained 0.44% to trade at $1,281.00 an ounce.
Best Gold Companies To Own For 2014: First Majestic Silver Corp.(AG)
First Majestic Silver Corp. engages in the production, development, exploration, and acquisition of mineral properties with a focus on silver in Mexico. The company owns interests in La Encantada Silver Mine comprising 4,076 hectares of mining rights and 1,343 hectares of surface land located in Coahuila; La Parrilla Silver Mine consisting of mining concessions covering an area of 69,867 hectares; and San Martin Silver Mine comprising approximately 7,841 hectares of mineral rights and approximately 1,300 hectares of surface land rights located in Jalisco. It also holds interests in Del Toro Silver Mine consisting of 393 contiguous hectares of mining claims and an additional 129 hectares of surface rights located in Zacatecas; Real de Catorce Silver Project comprising 22 mining concessions covering 6,327 hectares located in San Luis Potosi state; and Jalisco Group of Properties consisting of mining claims totalling 5,240 hectares located in Jalisco. The company was founded in 1979 and is headquartered in Vancouver, Canada.
Advisors' Opinion:- [By Laura Brodbeck]
Tuesday
Earnings Expected: Fossil Group (NASDAQ: FOSL), CST Brands (NYSE: CST), First Majestic Silver (NYSE: AG) Economic Releases Expected: US retail sales, US redbook, German ZEW economic sentiment, Chinese retail sales, Chinese industrial productionWednesday
- [By Doug Ehrman]
In terms of individual companies, there are several good choices, but these can behave very differently. Pan American Silver (NASDAQ: PAAS ) , for example, missed revenue expectations and beat earnings expectations in its last earnings release. But despite the beat, EPS shrank considerably from a year earlier on a GAAP basis. The stock has been fairly flat ever since. Conversely, First Majestic (NYSE: AG ) reported strong revenue growth and a small bump in profits, sending the stock higher since the announcement. First Majestic reported increased cash costs and tightening margins, largely driven by lower silver prices. Each of these companies faces pressure from increasing production costs and environmental concerns.
- [By Doug Ehrman]
It is no secret that precious metals companies have been taking a pounding for some time now. The SPDR Gold Trust (NYSEMKT: GLD ) and iShares Silver Trust (NYSEMKT: SLV ) , the gold and silver ETFs, have been hard hit and operating companies like First Majestic (NYSE: AG ) and Barrick Gold (NYSE: ABX ) have been hit even harder. Through all of these struggles, and in some cases because of them, one precious metals company continues to look attractive for the long term: Silver Wheaton (NYSE: SLW ) .
- [By Lisa Levin] Related AG Morning Market Losers First Majestic Silver (AG) in Focus: Stock Rises 5.9% - Tale of the Tape Related ARCI Top 4 Stocks In The Electronics Stores Industry With The Highest ROE Morning Market Movers
The Dow jumped 0.77% to 17,074.40, while the NASDAQ composite index rose 0.47% to 4,436.25. The broader Standard & Poor's 500 index gained 0.53% to 1,978.08.
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