Newmont Mining Co. (NEM), Goldcorp Inc. (GG), Kinross Gold (KGC), Jaguar Mining (JAG), Ivanhoe Mines Ltd (IVN), Silvercrest Mines (STVZF) and Primero Mining Corp. (PPP) had ratings and price targets on them adjusted by analysts.
Citigroup downgraded Newmont Mining Co. (NEM) from a "Buy" rating to a "Neutral" rating.
Citigroup initiated coverage on Goldcorp Inc. (GG). They have a "Neutral" rating on the company.
Citigroup initiated coverage on Kinross Gold (KGC). They have a "Buy" rating on the company.
RBC Capital downgraded Jaguar Mining (JAG) from a "Sector Perform" rating to an "Underperform" rating.
BMO Capital Markets downgraded Ivanhoe Mines Ltd (IVN) from an "Outperform" rating to a "Market Perform" rating.
Roth Capital initiated coverage on Silvercrest Mines (STVZF). They have a "Buy" rating on the company.
BMO Capital Markets upgraded Primero Mining Corp. (PPP) from a "Market Perform" rating to an "Outperform" rating.
Showing posts with label Kinross Gold. Show all posts
Showing posts with label Kinross Gold. Show all posts
Thursday, April 5, 2012
Thursday, February 16, 2012
Kinross Gold (KGC) Short of Expectations for Quarter
Kinross Gold (NYSE:KGC) missed analysts' expectations in its latest quarter by $0.04, as the company reported earnings of $0.17 a share, down from the $0.21 a share analysts from Thomson Reuters were looking for.
The gold miner said they had a loss of $2.78 billion, citing a write down of its Tasiast mine in West Africa, which they inherited when they acquired Red Back Mining.
Kinross CEO and president Tye Burt said Tasiast is on the front burner for projects of the company, because of "its high returns."
From there, Burt said the company will work the Dvoinoye project in Russia, Lobo Marte in Chile and FDN in Ecuador ... in that order.
For the quarter ending December 31, Kinross reported a loss of $2.45 a share, compared to a loss of $72.9 million, or six cents a share in the same quarter last year.
Revenue jumped from $920.4 million to $949.4 million during that same period.
The charge against Tasiast was $2.49 billion, with an additional charge of $447.5 million from its Chirano project. Last month the company said the Tasiast project could be delayed as long as nine months.
Minus the one-off charges, Kinross said earnings came in at $196.6 million, or 17 cents a share, in comparison to $158.5 million, or 14 cents a share in the same quarter last year.
Costs of sales are also challenging company results, as they jumped from $535 an ounce of gold to $636 an ounce.
Kinross also said it was lowering its capex for 2012, cutting spending estimates from $2.5 billion to $2.2 billion. Originally they had set aside $1.3 billion for growth project, which is now slashed to $1 billion for 2012.
Gold production estimates for 2012 from Kinross are from $2.6 million to $2.8 million gold-equivalent ounces, although it'll be at a higher cost of between $670 to $715 an ounce.
Silver production for 2012 is estimated to come in at between $7.5 million to 8.0 million ounces.
Recent analyst action had Deutsche Bank (NYSE: DB) cutting its price target on Kinross Gold to $85.00 a share.
Veritas Investment Research just announced they have a "Sell" rating on Kinross now, citing free cash flow concerns and its vulnerability.
Kinross closed Wednesday at $10.31, falling $0.08, or 0.77 percent.
The gold miner said they had a loss of $2.78 billion, citing a write down of its Tasiast mine in West Africa, which they inherited when they acquired Red Back Mining.
Kinross CEO and president Tye Burt said Tasiast is on the front burner for projects of the company, because of "its high returns."
From there, Burt said the company will work the Dvoinoye project in Russia, Lobo Marte in Chile and FDN in Ecuador ... in that order.
For the quarter ending December 31, Kinross reported a loss of $2.45 a share, compared to a loss of $72.9 million, or six cents a share in the same quarter last year.
Revenue jumped from $920.4 million to $949.4 million during that same period.
The charge against Tasiast was $2.49 billion, with an additional charge of $447.5 million from its Chirano project. Last month the company said the Tasiast project could be delayed as long as nine months.
Minus the one-off charges, Kinross said earnings came in at $196.6 million, or 17 cents a share, in comparison to $158.5 million, or 14 cents a share in the same quarter last year.
Costs of sales are also challenging company results, as they jumped from $535 an ounce of gold to $636 an ounce.
Kinross also said it was lowering its capex for 2012, cutting spending estimates from $2.5 billion to $2.2 billion. Originally they had set aside $1.3 billion for growth project, which is now slashed to $1 billion for 2012.
Gold production estimates for 2012 from Kinross are from $2.6 million to $2.8 million gold-equivalent ounces, although it'll be at a higher cost of between $670 to $715 an ounce.
Silver production for 2012 is estimated to come in at between $7.5 million to 8.0 million ounces.
Recent analyst action had Deutsche Bank (NYSE: DB) cutting its price target on Kinross Gold to $85.00 a share.
Veritas Investment Research just announced they have a "Sell" rating on Kinross now, citing free cash flow concerns and its vulnerability.
Kinross closed Wednesday at $10.31, falling $0.08, or 0.77 percent.
Thursday, February 9, 2012
Freeport (FCX) (KGC) (SMG) (NOR) (NSU) (MLM) (MMP) Ratings, Price Targets
Freeport McMoRan Copper and Gold (NYSE: FCX), Kinross Gold (NYSE: KGC), Scotts Miracle-Gro (NYSE: SMG), Noranda Aluminum Holding Co. (NYSE: NOR), Nevsun Resources Ltd (NYSE: NSU), Martin Marietta Materials, Inc. (NYSE: MLM) and Magellan Midstream (NYSE: MMP) had ratings and price targets on them adjusted by analysts.
Freeport McMoRan Copper and Gold (FCX) had its price target raised by Morgan Stanley (NYSE:MS) from $43.00 to $55.00. They have an “Overweight” rating on the company.
Kinross Gold (KGC) had its price target lowered by Deutsche Bank (NYSE:DB) to $85.00.
Scotts Miracle-Gro (SMG) had its price target raised by RBC Capital from $43.00 to $46.00. They have a “Sector Perform” rating on the company.
Noranda Aluminum Holding Co. (NOR) was downgraded by Bank of America (NYSE:BAC) from a “Buy” rating to a “Neutral” rating.
Nevsun Resources Ltd (NSU) was downgraded by CIBC from a “Sector Perform” rating to an “Underperform” rating.
Martin Marietta Materials, Inc. (MLM) was downgraded by DA Davidson from a “Neutral” rating to an “Underperform” rating.
Magellan Midstream (MMP) had its “Buy” rating reiterated by Wunderlich. They have a price target of $69.00 on the company.
Freeport McMoRan Copper and Gold (FCX) had its price target raised by Morgan Stanley (NYSE:MS) from $43.00 to $55.00. They have an “Overweight” rating on the company.
Kinross Gold (KGC) had its price target lowered by Deutsche Bank (NYSE:DB) to $85.00.
Scotts Miracle-Gro (SMG) had its price target raised by RBC Capital from $43.00 to $46.00. They have a “Sector Perform” rating on the company.
Noranda Aluminum Holding Co. (NOR) was downgraded by Bank of America (NYSE:BAC) from a “Buy” rating to a “Neutral” rating.
Nevsun Resources Ltd (NSU) was downgraded by CIBC from a “Sector Perform” rating to an “Underperform” rating.
Martin Marietta Materials, Inc. (MLM) was downgraded by DA Davidson from a “Neutral” rating to an “Underperform” rating.
Magellan Midstream (MMP) had its “Buy” rating reiterated by Wunderlich. They have a price target of $69.00 on the company.
Wednesday, January 11, 2012
Kinross (KGC) (JNPR) (JEF) (KELYA) (KMPR) (NEM) Upgraded
Kinross Gold (NYSE: KGC), Juniper Networks (NASDAQ: JNPR), Jefferies Group (NYSE: JEF), Kelly Services (NASDAQ: KELYA), Kemper (NASDAQ: KMPR) and Newmont Mining (NYSE: NEM) were upgraded by analysts.
Jefferies Group (JEF) was upgraded by Zacks Investment Research from an “Underperform” rating to a “Neutral” rating.
Juniper Networks (JNPR) was upgraded by Piper Jaffray (NYSE:PJC) from a “Neutral” rating to an “Overweight” rating.
Kelly Services (KELYA) was upgraded by Zacks Investment Research from a “Neutral” rating to an “Outperform” rating.
Kemper (KMPR) was upgraded by Zacks Investment Research from an “Underperform” rating to a “Neutral” rating.
Kinross Gold (KGC) was upgraded by Deutsche Bank (NYSE:DB) from a “Hold” rating to a “Buy” rating.
Newmont Mining (NEM) was upgraded by CIBC from an “Underperform” rating to a “Sector Perform” rating.
Jefferies Group (JEF) was upgraded by Zacks Investment Research from an “Underperform” rating to a “Neutral” rating.
Juniper Networks (JNPR) was upgraded by Piper Jaffray (NYSE:PJC) from a “Neutral” rating to an “Overweight” rating.
Kelly Services (KELYA) was upgraded by Zacks Investment Research from a “Neutral” rating to an “Outperform” rating.
Kemper (KMPR) was upgraded by Zacks Investment Research from an “Underperform” rating to a “Neutral” rating.
Kinross Gold (KGC) was upgraded by Deutsche Bank (NYSE:DB) from a “Hold” rating to a “Buy” rating.
Newmont Mining (NEM) was upgraded by CIBC from an “Underperform” rating to a “Sector Perform” rating.
Tuesday, January 10, 2012
Kinross (KGC) (LNVGY) (LPLA) (PDC) (REGN) (SNDK) Upgraded
Kinross Gold (NYSE: KGC), Lenovo (NASDAQ: LNVGY), LPL Investment Holdings Inc. (NASDAQ: LPLA), Pioneer Drilling Company (NYSE: PDC), Regeneron Pharma (NASDAQ: REGN) and SanDisk Co. (NASDAQ: SNDK) were upgraded by analysts.
Kinross Gold (KGC) was upgraded by Deutsche Bank (NYSE:DB) from a “Hold” rating to a “Buy” rating.
Lenovo (LNVGY) was upgraded by HSBC (NYSE:HBC) from a “Neutral” rating to an “Overweight” rating.
LPL Investment Holdings Inc. (LPLA) was upgraded by Macquarie from a “Neutral” rating to an “Outperform” rating.
Pioneer Drilling Company (PDC) was upgraded by Morgan Keegan from a “Market Perform” rating to an “Outperform” rating. They have a price target of $14.50 on the company.
Regeneron Pharma (REGN) was upgraded by Jefferies Group (NYSE:JEF) from a “Hold” rating to a “Buy” rating.
SanDisk Co. (SNDK) was upgraded by Sterne Agee from a “Neutral” rating to a “Buy” rating. They have a price target of $57.00 on the company.
Kinross Gold (KGC) was upgraded by Deutsche Bank (NYSE:DB) from a “Hold” rating to a “Buy” rating.
Lenovo (LNVGY) was upgraded by HSBC (NYSE:HBC) from a “Neutral” rating to an “Overweight” rating.
LPL Investment Holdings Inc. (LPLA) was upgraded by Macquarie from a “Neutral” rating to an “Outperform” rating.
Pioneer Drilling Company (PDC) was upgraded by Morgan Keegan from a “Market Perform” rating to an “Outperform” rating. They have a price target of $14.50 on the company.
Regeneron Pharma (REGN) was upgraded by Jefferies Group (NYSE:JEF) from a “Hold” rating to a “Buy” rating.
SanDisk Co. (SNDK) was upgraded by Sterne Agee from a “Neutral” rating to a “Buy” rating. They have a price target of $57.00 on the company.
Monday, January 9, 2012
Kinross (KGC) (S) (SPRD) (STE) (LNVGY) (LPLA) Ratings, Price Targets
Kinross Gold (NYSE: KGC), Sprint Nextel (NYSE: S), Spreadtrum (NASDAQ: SPRD), Steris Co. (NYSE: STE), Lenovo (NASDAQ: LNVGY) and LPL Investment Holdings Inc. (NASDAQ: LPLA) ratings and price targets.
Kinross Gold (KGC) was upgraded by Deutsche Bank (NYSE:DB) from a “hold” rating to a “buy” rating.
Sprint Nextel (S) had its price target lowered by BMO Capital Markets to $3.50.
Spreadtrum (SPRD) was downgraded by Jefferies Group (NYSE:JEF) from a “buy” rating to an “underperform” rating.
Steris Co. (STE) was downgraded by CL King from a “neutral” rating to a “sell” rating.
Lenovo (LNVGY) was upgraded by HSBC (NYSE:HBC) from a “neutral” rating to an “overweight” rating.
LPL Investment Holdings Inc. (LPLA) was upgraded by at Macquarie from a “neutral” rating to an “outperform” rating.
Kinross Gold (KGC) was upgraded by Deutsche Bank (NYSE:DB) from a “hold” rating to a “buy” rating.
Sprint Nextel (S) had its price target lowered by BMO Capital Markets to $3.50.
Spreadtrum (SPRD) was downgraded by Jefferies Group (NYSE:JEF) from a “buy” rating to an “underperform” rating.
Steris Co. (STE) was downgraded by CL King from a “neutral” rating to a “sell” rating.
Lenovo (LNVGY) was upgraded by HSBC (NYSE:HBC) from a “neutral” rating to an “overweight” rating.
LPL Investment Holdings Inc. (LPLA) was upgraded by at Macquarie from a “neutral” rating to an “outperform” rating.
Tuesday, November 8, 2011
Kinross (KGC) (JNPR) (STRA) (KOG) (LINE) (MGA) Price Targets Changed
Kinross Gold Corp. (NYSE: KGC), Juniper Networks (NASDAQ: JNPR), Strayer Education, Inc. (NASDAQ: STRA), Kodiak Oil & Gas Corp. (NYSE: KOG), Linn Energy, LLC (NASDAQ: LINE) and Magna International Inc. (NYSE: MGA) had price targets on them adjusted by analysts.
Kinross Gold Corp. (KGC) had its price target lowered by RBC Capital from $24.00 to $21.00. They have a “Sector Perform” rating on the company.
Juniper Networks (JNPR) had its price target raised by ISI Group from $25.00 to $30.00. They have a “Buy” rating on the company.
Strayer Education, Inc. (STRA) had its price target lowered by Wunderlich from $110.00 to $100.00. They have a “Hold” rating on the company.
Kodiak Oil & Gas Corp. (KOG) had its price target raised by MLV & Co from $8.00 to $9.50. They have a “Buy” rating on the company.
Linn Energy, LLC (LINE) had its price target raised by Morgan Keegan from $43.00 to $44.00. They have an “Overweight” rating on the company.
Magna International Inc. (MGA) had its price target lowered by Goldman Sachs (NYSE:GS) to $40.00. They have a “Neutral” rating on the company.
Kinross Gold Corp. (KGC) had its price target lowered by RBC Capital from $24.00 to $21.00. They have a “Sector Perform” rating on the company.
Juniper Networks (JNPR) had its price target raised by ISI Group from $25.00 to $30.00. They have a “Buy” rating on the company.
Strayer Education, Inc. (STRA) had its price target lowered by Wunderlich from $110.00 to $100.00. They have a “Hold” rating on the company.
Kodiak Oil & Gas Corp. (KOG) had its price target raised by MLV & Co from $8.00 to $9.50. They have a “Buy” rating on the company.
Linn Energy, LLC (LINE) had its price target raised by Morgan Keegan from $43.00 to $44.00. They have an “Overweight” rating on the company.
Magna International Inc. (MGA) had its price target lowered by Goldman Sachs (NYSE:GS) to $40.00. They have a “Neutral” rating on the company.
Friday, November 4, 2011
Kinross (KGC) (QCOM) (SCOR) (THOR) (GPRO) (HNSN) Ratings Reiterated
Kinross Gold Corp (NYSE: KGC), QUALCOMM, Inc. (NASDAQ: QCOM), COMSCORE, Inc. (NASDAQ: SCOR), Thoratec (NASDAQ: THOR), Gen-Probe Incorporated (NASDAQ: GPRO) and Hansen Medical, Inc. (NASDAQ: HNSN) had ratings on them reiterated by analysts.
Deutsche Bank (NYSE:DB) reiterated its "Hold" rating on Kinross Gold Corp. (KGC). They have a price target of $18.00 on the company.
Morgan Stanley (NYSE:MS) reiterated its "Overweight" rating on QUALCOMM, Inc. (QCOM). They have a price target of $57.00 on the company.
Deutsche Bank reiterated its "Buy" rating on COMSCORE, Inc. (SCOR). They have a price target of $24.00 on the company.
Barrington Research reiterated its "Outperform" rating on Thoratec (THOR). They have a price target of $36.00 on the company.
Oppenheimer reiterated its "Market Perform" rating on Gen-Probe Incorporated (GPRO).
Morgan Stanley reiterated its "Underweight" rating on Hansen Medical, Inc. (HNSN). They have a price target of $1.50 on the company.
Deutsche Bank (NYSE:DB) reiterated its "Hold" rating on Kinross Gold Corp. (KGC). They have a price target of $18.00 on the company.
Morgan Stanley (NYSE:MS) reiterated its "Overweight" rating on QUALCOMM, Inc. (QCOM). They have a price target of $57.00 on the company.
Deutsche Bank reiterated its "Buy" rating on COMSCORE, Inc. (SCOR). They have a price target of $24.00 on the company.
Barrington Research reiterated its "Outperform" rating on Thoratec (THOR). They have a price target of $36.00 on the company.
Oppenheimer reiterated its "Market Perform" rating on Gen-Probe Incorporated (GPRO).
Morgan Stanley reiterated its "Underweight" rating on Hansen Medical, Inc. (HNSN). They have a price target of $1.50 on the company.
Friday, August 12, 2011
Kinross (KGC) (RJF) (UPL) (MXIM) (COG) (DEP) Downgraded
Kinross Gold Corporation (NYSE: KGC), Raymond James (NYSE: RJF), Ultra Petroleum Corp. (NYSE: UPL), Maxim Integrated Products Inc. (NASDAQ: MXIM), Cabot Oil & Gas (NYSE: COG) and Duncan Energy Partners L.P. (NYSE: DEP) downgraded by analysts.
Kinross Gold Corporation (KGC) was downgraded by Credit Suisse (NYSE:CS) from an “Outperform” rating to a “Neutral” rating.
Raymond James (RJF) was downgraded by Goldman Sachs (NYSE:GS) from a “Buy” rating to a “Neutral” rating.
Ultra Petroleum Corp. (UPL) was downgraded by Wells Fargo & Co. (NYSE:WFC) from an “Outperform” rating to a “Market Perform” rating.
Maxim Integrated Products Inc. (MXIM) was downgraded by Longbow Research from a “Buy” rating to a “Neutral” rating.
Cabot Oil & Gas (COG) was downgraded by Goldman Sachs from a “Buy” rating to a “Neutral” rating.
Duncan Energy Partners L.P. (DEP) was downgraded by Ladenburg Thalmann from a “Buy” rating to a “Neutral” rating. They have a price target $44.00 on the company.
Kinross Gold Corporation (KGC) was downgraded by Credit Suisse (NYSE:CS) from an “Outperform” rating to a “Neutral” rating.
Raymond James (RJF) was downgraded by Goldman Sachs (NYSE:GS) from a “Buy” rating to a “Neutral” rating.
Ultra Petroleum Corp. (UPL) was downgraded by Wells Fargo & Co. (NYSE:WFC) from an “Outperform” rating to a “Market Perform” rating.
Maxim Integrated Products Inc. (MXIM) was downgraded by Longbow Research from a “Buy” rating to a “Neutral” rating.
Cabot Oil & Gas (COG) was downgraded by Goldman Sachs from a “Buy” rating to a “Neutral” rating.
Duncan Energy Partners L.P. (DEP) was downgraded by Ladenburg Thalmann from a “Buy” rating to a “Neutral” rating. They have a price target $44.00 on the company.
Monday, July 18, 2011
JinkoSolar (JKS) (KGC) (KOS) (PAG) (QEP) Get New Coverage
JinkoSolar Holding Co., Ltd. (NYSE: JKS), Kinross Gold Corp (NYSE: KGC), Kosmos Energy Ltd (NYSE: KOS), Penske Automotive (NYSE: PAG) and QEP Resources (NYSE: QEP) have received new coverage from analysts.
Pacific Crest initiated coverage on JinkoSolar Holding (JKS). They placed an “outperform” rating on the company.
HSBC launched coverage on Kinross Gold Corp. (KGC). They placed an “overweight” rating on the company.
Howard Weil started covering Kosmos Energy Ltd (KOS). They placed an “outperform” rating and a price target of $21.00 on the company.
ThinkEquity initiated coverage on Penske Automotive (PAG). They placed a “buy” rating on the company.
Jefferies (NYSE:JEF) initiated coverage on QEP Resources (QEP). They placed a “Buy” rating and a price target of $52.00 on the company.
Pacific Crest initiated coverage on JinkoSolar Holding (JKS). They placed an “outperform” rating on the company.
HSBC launched coverage on Kinross Gold Corp. (KGC). They placed an “overweight” rating on the company.
Howard Weil started covering Kosmos Energy Ltd (KOS). They placed an “outperform” rating and a price target of $21.00 on the company.
ThinkEquity initiated coverage on Penske Automotive (PAG). They placed a “buy” rating on the company.
Jefferies (NYSE:JEF) initiated coverage on QEP Resources (QEP). They placed a “Buy” rating and a price target of $52.00 on the company.
Wednesday, July 13, 2011
Eldorado (EGO) (GSS) (AEM) (HMY) (GG) Soar as Gold Breaks New All-Time Record
The price of gold broke another all-time record Tuesday, resulting in gold miners like Eldorado (NYSE:EGO), Golden Star Resources (AMEX:GSS), Agnico-Eagle (NYSE:AEM), Harmony Gold Mining (NYSE:HMY) and Goldcorp (NYSE:GG) popping.
Much of the fast action happened after reports revealed the Federal Reserve has been contemplating another round of quantitative easing, or printing money.
The price of gold settled at $1,562.30, gaining $13.10 on the day, and was up about $20 in after hours trading. The former settlement record was $1,557.10 an ounce on May 2, 2011. The rally fell short of the overall high of $1,577, reaching $1,574 an ounce.
Parameters of initiating QE3 would be sustainably high unemployment rates and low inflation, according to FOMC minutes from the meeting. Interestingly, at the same meeting other members noted they may have to take money out of the market if inflation risk continues to linger or increase.
Silver prices fell to $35.63 an ounce, a loss of 6 cents. In after hours trading the price of silver also soared by over 50 cents an ounce.
Eldorado Gold closed Tuesday at $16.63, gaining $0.81, or 5.12 percent. Golden Star Resources ended the session at $2.54, rising $0.14, or 5.83 percent. Agnico-Eagle closed at $64.35, jumping $2.19, or 3.52 percent. Harmony Gold Mining closed the day at $13.52, increasing $0.54, or 4.16 percent. Goldcorp closed at $52.56, soaring $2.15, or 4.27 percent.
Other gold miners making significant moves included Kinross Gold (KGC), which ended at $16.73, up $0.42, or 2.58 percent. Yamana Gold (NYSE:AUY) closed at $12.85, climbing $0.39, or 3.13 percent. NovaGold Resources Inc. (AMEX:NG) jumped to $9.91, gaining $0.27, or 2.80 percent. Gold Fields (NYSE:GFI) closed at $15.12, rising $0.66, or 4.56 percent. IAMGOLD Corporation (NYSE:IAG) ended the day at $20.25, up $0.90, or 4.65 percent.
Much of the fast action happened after reports revealed the Federal Reserve has been contemplating another round of quantitative easing, or printing money.
The price of gold settled at $1,562.30, gaining $13.10 on the day, and was up about $20 in after hours trading. The former settlement record was $1,557.10 an ounce on May 2, 2011. The rally fell short of the overall high of $1,577, reaching $1,574 an ounce.
Parameters of initiating QE3 would be sustainably high unemployment rates and low inflation, according to FOMC minutes from the meeting. Interestingly, at the same meeting other members noted they may have to take money out of the market if inflation risk continues to linger or increase.
Silver prices fell to $35.63 an ounce, a loss of 6 cents. In after hours trading the price of silver also soared by over 50 cents an ounce.
Eldorado Gold closed Tuesday at $16.63, gaining $0.81, or 5.12 percent. Golden Star Resources ended the session at $2.54, rising $0.14, or 5.83 percent. Agnico-Eagle closed at $64.35, jumping $2.19, or 3.52 percent. Harmony Gold Mining closed the day at $13.52, increasing $0.54, or 4.16 percent. Goldcorp closed at $52.56, soaring $2.15, or 4.27 percent.
Other gold miners making significant moves included Kinross Gold (KGC), which ended at $16.73, up $0.42, or 2.58 percent. Yamana Gold (NYSE:AUY) closed at $12.85, climbing $0.39, or 3.13 percent. NovaGold Resources Inc. (AMEX:NG) jumped to $9.91, gaining $0.27, or 2.80 percent. Gold Fields (NYSE:GFI) closed at $15.12, rising $0.66, or 4.56 percent. IAMGOLD Corporation (NYSE:IAG) ended the day at $20.25, up $0.90, or 4.65 percent.
Thursday, July 7, 2011
IAMGOLD (IAG) (NG) (AUY) (KGC) Close up as Gold Prices Climb Again
IAMGOLD Corporation (NYSE:IAG), NovaGold Resources Inc. (AMEX:NG), Yamana Gold (NYSE:AUY) and Kinross Gold Corp (NYSE:KGC) as the gold price climbed on the credit downgrade of Portugal by Moody's (NYSE:MCO) and concerns China may follow, as it battles inflation.
The gold price jumped $14.80 to $1,527 an ounce at the Comex division of the New York Mercantile Exchange Wednesday after China announced it would be boosting interest rates for the third time in 2011. The price of gold dropped as low as $1,510 an ounce before rebounding up to $1,529 after the People’s Bank of China said that the one-year lending rate will be increased from 6.31 percent to 6.56 percent, going into effect Thursday.
Next week China will release its consumer price index figures, which are expected to jump above 6 percent.
With Portugal downgraded to junk status, Greece with only a promise to implement austerity measures, and the U.S. sinking into economic oblivion, safe-haven assets like gold continue to be the focus of investors, as the clueless Obama administration and Democrats continue to battle to raise the debt ceiling at a time when spending needs to be cut back.
With Republicans being voted in to fight against outrageous government spending, they are under pressure to come through in fighting against raising the debt ceiling and cutting back on the size of government and it spending, it is a momentous time for them, as they have a chance to secure long-term rule if they have an ounce of courage and integrity to keep their promises.
Kinross closed at $16.67, gaining $0.13, or 0.79 percent. Yamana closed at $12.52, jumping $0.35, or 2.88 percent. NovaGold ended the session at $10.22, up $0.11, or 1.09 percent. Iamgold closed at $19.25, rising $0.04, or 0.21 percent.
The gold price jumped $14.80 to $1,527 an ounce at the Comex division of the New York Mercantile Exchange Wednesday after China announced it would be boosting interest rates for the third time in 2011. The price of gold dropped as low as $1,510 an ounce before rebounding up to $1,529 after the People’s Bank of China said that the one-year lending rate will be increased from 6.31 percent to 6.56 percent, going into effect Thursday.
Next week China will release its consumer price index figures, which are expected to jump above 6 percent.
With Portugal downgraded to junk status, Greece with only a promise to implement austerity measures, and the U.S. sinking into economic oblivion, safe-haven assets like gold continue to be the focus of investors, as the clueless Obama administration and Democrats continue to battle to raise the debt ceiling at a time when spending needs to be cut back.
With Republicans being voted in to fight against outrageous government spending, they are under pressure to come through in fighting against raising the debt ceiling and cutting back on the size of government and it spending, it is a momentous time for them, as they have a chance to secure long-term rule if they have an ounce of courage and integrity to keep their promises.
Kinross closed at $16.67, gaining $0.13, or 0.79 percent. Yamana closed at $12.52, jumping $0.35, or 2.88 percent. NovaGold ended the session at $10.22, up $0.11, or 1.09 percent. Iamgold closed at $19.25, rising $0.04, or 0.21 percent.
Friday, May 20, 2011
Kinross Gold (KGC) Up on Euro Fears
Shares of Kinross Gold (NYSE:KGC) closed up on Friday as concerns over the faltering European Union and its sovereign debt crisis pushed gold prices up and gold miners with it.
June gold closed on Friday at $1,508.90 an ounce, up $16.50, trading in a range of $1,486.40 and $1,515.80.
For the Week gold was up by about 1.15 percent, but still down 4 percent from the all-time high of $1,575 an ounce reached in the early part of May.
Silver closed at $35.16, up 0.6 percent, but down by about 30 percent since a record high on April 28 of $49.51.
Kinross Gold Corporation participates in mining and processing gold ores. It also is involved in the exploration and acquisition of gold properties.
Kinross closed Friday at $14.94, up $0.08, or 0.54 percent. It has a market cap of $16.97 billion.
June gold closed on Friday at $1,508.90 an ounce, up $16.50, trading in a range of $1,486.40 and $1,515.80.
For the Week gold was up by about 1.15 percent, but still down 4 percent from the all-time high of $1,575 an ounce reached in the early part of May.
Silver closed at $35.16, up 0.6 percent, but down by about 30 percent since a record high on April 28 of $49.51.
Kinross Gold Corporation participates in mining and processing gold ores. It also is involved in the exploration and acquisition of gold properties.
Kinross closed Friday at $14.94, up $0.08, or 0.54 percent. It has a market cap of $16.97 billion.
Barrick (ABX) (KGC) (GG) (NEM) Jump As Gold Prices Break $1,500
Investors looking to gold and silver for safety as equities drop, pushing up the price of the precious metals, and major miners like Kinross Gold Corp (NYSE:KGC), Barrick Gold (NYSE:ABX), Goldcorp (NYSE:GG) and Newmont Mining (NYSE:NEM).
The most actively traded gold contract, for June delivery, was recently up $19.70, or $1.3 percent, at $1,512.10 a troy ounce on the Comex division of the New York Mercantile Exchange.
Silver prices are up with the most actively traded contract, for July delivery, recently up 22.3 cents, or 0.6 percent, at $35.155 a troy ounce.
Kinross Gold (KGC) was trading at $15.00, up $0.14, or 0.94 percent, as of 1:09 PM EDT. Barrick Gold (ABX) was trading at $45.94, gaining $0.37, or 0.81 percent. Goldcorp (GG) was at $49.04, rising $0.68, or 1.41 percent. Newmont (NEM) was trading at $54.63, climbing $0.57, or 1.05 percent.
The most actively traded gold contract, for June delivery, was recently up $19.70, or $1.3 percent, at $1,512.10 a troy ounce on the Comex division of the New York Mercantile Exchange.
Silver prices are up with the most actively traded contract, for July delivery, recently up 22.3 cents, or 0.6 percent, at $35.155 a troy ounce.
Kinross Gold (KGC) was trading at $15.00, up $0.14, or 0.94 percent, as of 1:09 PM EDT. Barrick Gold (ABX) was trading at $45.94, gaining $0.37, or 0.81 percent. Goldcorp (GG) was at $49.04, rising $0.68, or 1.41 percent. Newmont (NEM) was trading at $54.63, climbing $0.57, or 1.05 percent.
Kinross Gold (NYSE:KGC) Trades Up on Economic Weakness
Kinross Gold (NYSE:KGC) was able to close up slightly on Thursday, even though gold prices closed down on the day.
Gold for June delivery, closed down $3.40, or 0.2 percent, at $1,492.40 a troy ounce on the Comex division of the New York Mercantile Exchange.
Silver prices ended the session down. July delivery for silver fell 16.5 cents, or 0.5 percent, to $34.932 a troy ounce.
The ICE Futures' dollar index was down 0.5 percent at 75.106. The U.S. dollar was down against most of its major peers at the end of trading Thursday.
Extremely bad news on Obama's economy pressured the commodity sector.
July contracts had copper falling 5.25 cents to settle at $4.0525 a pound and platinum dropped $10.90 to $1,769 an ounce. June palladium settled down $9.05 at $728.15 an ounce.
Housing sales and manufacturing data revealed an ongoing weak and fragile American economy.
Kinross Gold Corporation participates in the mining and processing of gold ores. It also is involved in the exploration and acquisition of gold bearing properties. Kinross operates in North and South America, the Russian Federation and Africa.
Kinross closed Thursday at $14.86, gaining $0.02, or 0.13 percent.
Gold for June delivery, closed down $3.40, or 0.2 percent, at $1,492.40 a troy ounce on the Comex division of the New York Mercantile Exchange.
Silver prices ended the session down. July delivery for silver fell 16.5 cents, or 0.5 percent, to $34.932 a troy ounce.
The ICE Futures' dollar index was down 0.5 percent at 75.106. The U.S. dollar was down against most of its major peers at the end of trading Thursday.
Extremely bad news on Obama's economy pressured the commodity sector.
July contracts had copper falling 5.25 cents to settle at $4.0525 a pound and platinum dropped $10.90 to $1,769 an ounce. June palladium settled down $9.05 at $728.15 an ounce.
Housing sales and manufacturing data revealed an ongoing weak and fragile American economy.
Kinross Gold Corporation participates in the mining and processing of gold ores. It also is involved in the exploration and acquisition of gold bearing properties. Kinross operates in North and South America, the Russian Federation and Africa.
Kinross closed Thursday at $14.86, gaining $0.02, or 0.13 percent.
Thursday, May 19, 2011
Miners (IVN) (IAG) (AEM) (PZG) (KGC) Trade Up
Shares of Ivanhoe Mines Ltd. (NYSE:IVN), IAMGOLD Corporation (NYSE:IAG), Agnico-Eagle (NYSE:AEM), Paramount Gold and Silver (AMEX:PZG) and Kinross Gold Corp (NYSE:KGC) all traded up on Wednesday as gold and silver prices climbed on the day.
June gold climbed $15.80 to $1,495.80 per troy ounce, a 1.1 percent gain on the Comex division of the New York Mercantile Exchange. The less traded May contract was up $15.80, or 1.1 percent, to $1,495.60 a troy ounce.
The silver contract for May delivery gained $1.61, or 4.8 percent, to $35.10 a troy ounce.
A weaker dollar was the major catalyst for gold and silver specifically, and commodities in general on Wednesday.
Benchmark West Texas Intermediate crude for June delivery was up $3.19, or 3.3 percent, to settle at $100.10 a barrel on the New York Mercantile Exchange.
Brent crude rose $2.31 in London, or 2.1 percent, to settle at $112.30 a barrel on the ICE Futures exchange.
The U.S. dollar index, which measures the dollar against a basket of six currencies, traded at 75.438, down a little from 75.441 late Tuesday. That was also a factor in gold and silver prices going up.
Ivanhoe Mines Ltd. (NYSE:IVN) closed at $25.27, gaining $1.63, or 6.90 percent.
June gold climbed $15.80 to $1,495.80 per troy ounce, a 1.1 percent gain on the Comex division of the New York Mercantile Exchange. The less traded May contract was up $15.80, or 1.1 percent, to $1,495.60 a troy ounce.
The silver contract for May delivery gained $1.61, or 4.8 percent, to $35.10 a troy ounce.
A weaker dollar was the major catalyst for gold and silver specifically, and commodities in general on Wednesday.
Benchmark West Texas Intermediate crude for June delivery was up $3.19, or 3.3 percent, to settle at $100.10 a barrel on the New York Mercantile Exchange.
Brent crude rose $2.31 in London, or 2.1 percent, to settle at $112.30 a barrel on the ICE Futures exchange.
The U.S. dollar index, which measures the dollar against a basket of six currencies, traded at 75.438, down a little from 75.441 late Tuesday. That was also a factor in gold and silver prices going up.
Ivanhoe Mines Ltd. (NYSE:IVN) closed at $25.27, gaining $1.63, or 6.90 percent.
Wednesday, May 18, 2011
Miners (KGC) (AU) (EGO) (GFI) (AUY) All Close Up Tuesday
Shares of Kinross Gold Corp (NYSE:KGC), AngloGold Ashanti (NYSE:AU), Eldorado Gold Corporation (NYSE:EGO), Gold Fields (NYSE:GFI) and Yamana Gold (NYSE:AUY) went against the grain of gold prices, all closing up on Tuesday, even though gold prices dropped again.
Gold futures for June delivery closed down $10.60, or 0.7 percent, at $1,480.00 per ounce in New York. Trade ranged from a low $1,471.10 to a high of $1,497.50.
The yellow metal has dropped $100 or 6 percent from its record highs of over $1,575 an ounce set earlier in May.
Silver gained 0.7 percent to settle at $33.80 an ounce. Since the latter part of April it has fallen almost 33 percent from a record high of $49.51.
Eldorado Gold Corporation (EGO) closed Tuesday at $15.45, gaining $0.40, or 2.66 percent.
Gold futures for June delivery closed down $10.60, or 0.7 percent, at $1,480.00 per ounce in New York. Trade ranged from a low $1,471.10 to a high of $1,497.50.
The yellow metal has dropped $100 or 6 percent from its record highs of over $1,575 an ounce set earlier in May.
Silver gained 0.7 percent to settle at $33.80 an ounce. Since the latter part of April it has fallen almost 33 percent from a record high of $49.51.
Eldorado Gold Corporation (EGO) closed Tuesday at $15.45, gaining $0.40, or 2.66 percent.
Tuesday, May 17, 2011
Kinross Gold Corp (KGC) Trades Up Monday
Shares of Kinross Gold Corp (NYSE:KGC) were up Monday even as gold and silver prices were down slightly on the trading day.
Gold for June delivery shed $3 to close at $1,490.60 at the Comex division of the New York Mercantile Exchange. The gold price Monday traded in a range of a low of $1,486 and a high of $1,504.30.
Silver prices ended the day down 88 cents to close at $34.13 an ounce.
The U.S. dollar index fell 0.43 percent to $75.38.
The euro strengthened as Monday trading went on, putting pressure on the U.S. dollar.
Kinross Gold Corporation participates in the mining and processing of gold ores. It also is involved in the exploration and acquisition of gold bearing properties. Kinross operates in North and South America, the Russian Federation and Africa.
Kinross Gold Corp (KGC) closed at $39.16, gaining $0.75, or 1.95 percent.
Gold for June delivery shed $3 to close at $1,490.60 at the Comex division of the New York Mercantile Exchange. The gold price Monday traded in a range of a low of $1,486 and a high of $1,504.30.
Silver prices ended the day down 88 cents to close at $34.13 an ounce.
The U.S. dollar index fell 0.43 percent to $75.38.
The euro strengthened as Monday trading went on, putting pressure on the U.S. dollar.
Kinross Gold Corporation participates in the mining and processing of gold ores. It also is involved in the exploration and acquisition of gold bearing properties. Kinross operates in North and South America, the Russian Federation and Africa.
Kinross Gold Corp (KGC) closed at $39.16, gaining $0.75, or 1.95 percent.
Monday, May 16, 2011
Kinross (KGC) (AUY) (NXG) (AEM) (PZG) Trade Down As Gold Drops
Gold and silver prices went through a reversal Friday as gold closed down and silver rebounded to close higher, putting pressure on gold miners such as Kinross Gold Corp (NYSE:KGC), Yamana Gold (NYSE:AUY), Northgate Minerals (AMEX:NXG), Agnico-Eagle (NYSE:AEM) and Paramount Gold and Silver (AMEX:PZG) - which closed down - and gold ETFS.
Gold for June delivery fell $13.10 to close at $1,493.60 at the Comex division of the New York Mercantile Exchange. The spot gold price was down by about $13 an ounce. Silver prices settled up 21 cents to $35.01 an ounce.
The U.S. dollar index was up 0.74 percent to $75.75 as the euro continued to get hammered on the sovereign debt crises in Europe. The euro plunged 1.7 percent last week as Greece was again in the spotlight for the need to probably be bailed out again, as it appears the country refuses to implement austerity measures to deal with the situation, as it, along with numerous countries, has made progressive, socialists promises they aren't able to keep.
Besides the long-term collapse of the U.S. dollar and the European sovereign debt crises, other factors offering support to gold include tightening in China, inflation, and unrest in the middle east.
Yamana closed Friday at $11.80, down $0.18, or 1.50 percent.
Gold for June delivery fell $13.10 to close at $1,493.60 at the Comex division of the New York Mercantile Exchange. The spot gold price was down by about $13 an ounce. Silver prices settled up 21 cents to $35.01 an ounce.
The U.S. dollar index was up 0.74 percent to $75.75 as the euro continued to get hammered on the sovereign debt crises in Europe. The euro plunged 1.7 percent last week as Greece was again in the spotlight for the need to probably be bailed out again, as it appears the country refuses to implement austerity measures to deal with the situation, as it, along with numerous countries, has made progressive, socialists promises they aren't able to keep.
Besides the long-term collapse of the U.S. dollar and the European sovereign debt crises, other factors offering support to gold include tightening in China, inflation, and unrest in the middle east.
Yamana closed Friday at $11.80, down $0.18, or 1.50 percent.
Wednesday, May 11, 2011
Miners (ABX) (KGC) (ANV) (RGLD) (AU) Trade Mixed as Gold Jumps Again
Shares of gold miners Allied Nevada Gold (AMEX:ANV), Royal Gold (Nasdaq:RGLD), Barrick Gold (NYSE:ABX), AngloGold Ashanti (NYSE:AU) and Kinross Gold Corp (NYSE:KGC)close mixed Tuesday as gold bumps up again.
Gold for June delivery added $13.70, or 0.9%, to $1,516.90 an ounce on the Comex division of the New York Mercantile Exchange.
Silver also extended its rebound, with the July contract gaining $1.37, or 3.7%, to $38.47 an ounce.
Separately, HSBC Global Research boosted its average price estimate for gold, silver and platinum.
HSBC raised its gold price projection to $1,525 an ounce from $1,450 an ounce this year, and to $1,500 from $1,300 for 2012.
For silver, the bank sees it averaging $34 in 2011, up from a previous estimate of $26, and $29 from $20 in 2012.
Platinum is seen closing 2011 at $1,850 from $1,750, according to HSBC, and ending 2012 at $1,750 from $1,650.
For palladium, HSBC sees it averaging $825, from $750, in 2011, and $750 from $650 in 2012.
Barrick Gold closed at $47.65, down $0.02, or 0.04 percent.
Gold for June delivery added $13.70, or 0.9%, to $1,516.90 an ounce on the Comex division of the New York Mercantile Exchange.
Silver also extended its rebound, with the July contract gaining $1.37, or 3.7%, to $38.47 an ounce.
Separately, HSBC Global Research boosted its average price estimate for gold, silver and platinum.
HSBC raised its gold price projection to $1,525 an ounce from $1,450 an ounce this year, and to $1,500 from $1,300 for 2012.
For silver, the bank sees it averaging $34 in 2011, up from a previous estimate of $26, and $29 from $20 in 2012.
Platinum is seen closing 2011 at $1,850 from $1,750, according to HSBC, and ending 2012 at $1,750 from $1,650.
For palladium, HSBC sees it averaging $825, from $750, in 2011, and $750 from $650 in 2012.
Barrick Gold closed at $47.65, down $0.02, or 0.04 percent.
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