Tag: abx

Goldcorp (NYSE:GG), Newmont (NYSE:NEM), Barrick (NYSE:ABX) Open Strong

Goldcorp (NYSE:GG) (TSE:G), Newmont Mining (NYSE:NEM) and Barrick Gold (NYSE:ABX) (TSE:ABX) continued on from yesterday’s good performance, all up a little before 11:30 AM EDT, even though gold prices were down slightly, standing at $1,232.90 an ounce, down $1.50 at 11:18 AM EDT. All three performed strongly yesterday, and investors aren’t convinced the crisis in Europe is resolved or that

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After Market Alerts for ESRX, GG, ABX

Filed in shares, silver by on June 7, 2010 0 Comments

After Market Alerts for ESRX, GG, ABX Shares of Express Scripts Inc. (NASDAQ: ESRX) jumped more than 5% in today’s trading. The stock reached a high of $104.98 in trading. It closed 4.27% higher at $103.37, with volume up from daily average of 2.80 million to 3.22 million. The stock has a 52-week range of $60.63-$106.30.

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Market Wrap-Up for June 1 (BP, HAL, SLB, APC, MEE, NEM, ABX, more)

Filed in Barrick Gold, dividend, Gold, Gold Investment, shares by on June 1, 2010 0 Comments
Market Wrap-Up for June 1 (BP, HAL, SLB, APC, MEE, NEM, ABX, more)

It is the beginning of the month and market watchers were hopeful to see the usual early month fund inflows add a bit of support to the recently weak markets, but that wasn’t the case for at least today. There is some seasonality issues as we approach the summertime as well, with investors sometimes focusing more on vacation time than retirement issues. That said, the main driver of the markets continues to be the effects of the global economic uncertainties as well as the terrible feeling of investors watching the BP plc ( BP ) oil disaster continuing to go on. The markets closed at the lows of the day, with volume coming in a bit lower than average. Some traders/investors may have extended the holiday weekend. Shares of BP Plc ( BP ) got hit very hard this morning as we continue to feel good about kicking the name out of our recommended portflio the day of the initial news. There was also widespread selling going on in oil-related plays like Anadarko Petroleum ( APC ) , Schlumberger ( SLB ) , and Halliburton ( HAL ) . Other commodity-related names moved down in sympathy as well, with Massey Energy ( MEE ) and Cliffs Natural Resources ( CLF ) closing in the red. Gold-related plays were up once again with Newmont Mining ( NEM ) and Barrick Gold ( ABX ) pushing higher. These are low-yield names that are not for investors looking for income, but could work if investors want to get aggressive and try and time the markets. Again, timing the markets is not an easy strategy and should only be for experienced investors that have a high level of discipline. They are not currently on our recommended list at this time, but many of the gold plays continue to shine (no pun intended). Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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Barrick Gold Now Rated at “Buy” at Deutsche Bank (ABX)

Barrick Gold Now Rated at “Buy” at Deutsche Bank (ABX)

Gold mining giant Barrick Gold Corporation ( ABX ) saw its rating and price target boosted on Tuesday by analysts at Deutsche Bank, who cited an expected run-up in precious metal prices. The firm raised its rating on ABX to “Buy” from “Hold,” and boosted its price target on the stock to $53 from $45. Barrick shares had closed at $41.14 on Monday. Deutsche raised its gold price forecasts for 2011 and 2012 to $1,450 (+16% from prior view) and $1,600/oz (+60% from prior view). The analyst also said Barrick is one of a few “value” gold plays, compared to some other “growth” names in the sector. Barrick Gold shares fell 72 cents, or -1.8%, in premarket trading Tuesday. The Bottom Line We have avoided shares of ABX since our early June 2008 coverage began, when the stock was trading at $42.07. The company has a .97% dividend yield, based on last night’s closing stock price of $41.12. The stock has technical support in the $38 price area. If the shares can firm up, we see overhead resistance around the $42-$44 a share. We would remain on the sidelines for now. Barrick Gold Corporation ( ABX ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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Barrick Gold Now Rated at “Buy” at Deutsche Bank (ABX)

Barrick Gold Now Rated at “Buy” at Deutsche Bank (ABX)

Gold mining giant Barrick Gold Corporation ( ABX ) saw its rating and price target boosted on Tuesday by analysts at Deutsche Bank, who cited an expected run-up in precious metal prices. The firm raised its rating on ABX to “Buy” from “Hold,” and boosted its price target on the stock to $53 from $45. Barrick shares had closed at $41.14 on Monday. Deutsche raised its gold price forecasts for 2011 and 2012 to $1,450 (+16% from prior view) and $1,600/oz (+60% from prior view). The analyst also said Barrick is one of a few “value” gold plays, compared to some other “growth” names in the sector. Barrick Gold shares fell 72 cents, or -1.8%, in premarket trading Tuesday. The Bottom Line We have avoided shares of ABX since our early June 2008 coverage began, when the stock was trading at $42.07. The company has a .97% dividend yield, based on last night’s closing stock price of $41.12. The stock has technical support in the $38 price area. If the shares can firm up, we see overhead resistance around the $42-$44 a share. We would remain on the sidelines for now. Barrick Gold Corporation ( ABX ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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Barrick Gold (TSE:ABX), Red Back Mining (TSE:RBI) Up, Eldorado Gold (TSE:ELD) Drops

Gold prices today were under pressure early, but found support over $1,200 an ounce, as gold mining stocks like Barrick Gold (TSE:ABX)(NYSE: ABX) and Red Back Mining (TSE:RBI) were up, especially Red Back, which surged by over 7 percent during the session, gaining $1.87 a share. Barrick was up modestly, rising a little over 0.50 a share, and gaining a little more in electronic trading.

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Peru Gold Production Rises in February

Filed in Barrick Gold, Gold, Gold Market, Gold Production, silver by on March 25, 2010 0 Comments

Peru ‘s Ministry of Mines and Energy reported that gold and zinc production rose in the country in February. Gold production increased 5% to 522,373 ounces compared to February 2009, driven mainly by a jump of 69% at Barrick Gold’s (NYSE: ABX ) Minera Barrick Misquichilca, which represents 26% of national production, the ministry said. Zinc output also rose 5% to 119,076 metric tons last month. Sharp increases in zinc production were reported at Compania Minera Antamina— up 45%— and Compania Minera Atacocha SA, up 25%. On the downside, silver production in Peru — the world’s largest producer— fell by 11% to 9,596,228 ounces of silver last month; an 11% decrease compared to February 2009 when 10, 819,793 ounces of silver were produced. The ministry said the drop was mainly due to a 44% lower output at Compania de Minas Buenaventura (NSYE: BVN ), which was hit by strikes in February, and a 41% drop at Compania Minera Ares. Copper production in Peru, the world’s second largest producer, also fell 4% to 93,993 tons in February from the same month a year ago. Production was hit by lower output at Doe Run Peru, down 18% following strike action at its Cobriza mine, as well as 17% reductions at both Southern Copper Corp.(NYSE: SCCO ) and Minera Condestable. Molybdenum production rose 13% to 956 tons in February, according to the government. Iron production also rose by 37% to 445,155 tons. As the Peruvian mining industry continues to expand, there will be a growing need for more energy. My colleague, Sam Hopkins, recently returned from the country where he got a first hand look at Peru’s growing wind energy projects . To learn about Sam’s Peruvian adventure— and two wind energy companies he believes will return expect upwards of 60% in short order— check out his latest report . Luke Burgess Editor, Wealth Daily Peru Gold Production Rises in February originally appeared in Wealth Daily . Wealth Daily is a free daily newsletter featuring contrarian investment insights and commentary.

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NovaGold Increases Gold Reserve at Donlin Creek

Filed in Barrick Gold, Gold, GOld juniors, gold reserves by on March 22, 2010 0 Comments
NovaGold Increases Gold Reserve at Donlin Creek

NovaGold Resources Inc. (AMEX: NG ) reported an update on the reserve and resource estimate for its Donlin Creek gold project. Donlin Creek is owned equally by NovaGold and Barrick Gold (NYSE: ABX ). The updated reserve/resource estimate for Donlin Creek incorporates the results from 62 new drill holes totaling 25,094 meters for a total of 1,740 drill holes totaling 370,000 meters. These results increased in-situ gold reserves by 4.3 million ounces to 33.6 million ounces of gold. NovaGold’s 50% interest totals 16.8 million ounces of gold reserves, with an additional 2.1 million ounces of measured and indicated gold resources and 2.2 million ounces of inferred gold resources. As per National Instrument 43-101, the Donlin Creek reserve/resource estimates are as follows: The new reserve estimate represents a 15% increase over the 29.3 million ounce reserve estimate contained in a 2009 feasibility study. The increase in reserves is expected to extend the mine life from 21 years to 25 years at the feasibility production rate. Luke Burgess Editor, Wealth Daily NovaGold Increases Gold Reserve at Donlin Creek originally appeared in Wealth Daily . Wealth Daily is a free daily newsletter featuring contrarian investment insights and commentary.

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Market Wrap-Up for Feb.18 (KO, WMT, NEM, CLF, AMAT, HRL, more)

Filed in Barrick Gold, Gold, Gold Investment by on February 18, 2010 0 Comments
Market Wrap-Up for Feb.18 (KO, WMT, NEM, CLF, AMAT, HRL, more)

We saw another dull market wake up this afternoon to close with some nice gains. Volume on the NYSE finished at 3.88 Billion shares, while the NASDAQ traded 2 Billion shares. Earnings played a role in the upside/downside moves of course. On the plus side, Cliffs Natural Resources ( CLF ) , Analog Devices ( ADI ) , and Hormel Foods ( HRL ) all did nicely following results. On the flipside Advance Auto Parts ( AAP ) , Reliance Steel ( RS ) , Applied Materials ( AMAT ) , and Wal-Mart Stores ( WMT ) all finished in the red following their results. Gold-mining stocks did well on the back of good earnings from Agnico-Eagle Mines ( AEM ) , with Newmont Mining ( NEM ) and Barrick Gold ( ABX ) closing higher. Other names that traded up today included Travelers ( TRV ) and Kimberly Clark ( KMB ) . Dailmer AG ( DAI ) got hit hard after the company suspended their dividend payouts. We did get good news from Coca-Cola ( KO ) which just raised their dividend payout once again. We will highlight this name and others that have made dividend payout changes in our nightly dividend payout updates post. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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NYSE Pre-closing imbalances for Dec 23 (1540 EST)

Filed in Gold Holdings, Gold Investing by on December 23, 2009 0 Comments

NEW YORK, Dec 23 – New York Stock Exchange reported the following pre-closing imbalances: AA 71500 SHARES IN EXCESS ON BUY SIDE ABX 127400 SHARES IN EXCESS ON BUY SIDE AM LAST 23.84 BID 24.00 ASK 26.00 AMD 76800 SHARES IN EXCESS ON BUY SIDE AN 7430 NYSE Pre-closing imbalances for Dec 23 (1540 EST)

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Market Wrap-Up for Dec.11 (BY, AA, CL, ABX, DIS, UTX, more)

Filed in Barrick Gold, gld, Gold, Gold Investing, Guidance by on December 11, 2009 0 Comments
Market Wrap-Up for Dec.11 (BY, AA, CL, ABX, DIS, UTX, more)

The market had a few swings intraday but the DOW outpaced the other major averages to end up the big winner today. Volume was a bit light on this last trading day of the week. We saw 3.79 Billion shares traded on the NYSE and 1.69 Billion shares traded on the NASDAQ. United Technologies ( UTX ) started us off with a good tone as it raised guidance this morning. This offset the so-so news from National Semiconductor ( NSM ) . Several Wall Street upgrades helped boost shares of Corning ( GLW ) , L-3 Communications ( LLL ) and Walt Disney ( DIS ) . Gold ( GLD ) continued to drift lower, taking along some gold-mining plays like Barrick Gold ( ABX ) and Iamgold ( IAG ) . Elsewhere, financials were somewhat mixed with PNC Financial ( PNC ) and State Street ( STT ) leading to the downside, while Capital One Financial ( COF ) spiked up. Getting back to the names that did well today, we was lots of greeb on the screen from Nike ( NKE ) , Lockheed Martin ( LMT ) , Alcoa ( AA ) , Colgate-Palmolive ( CL ) , U.S. Steel ( X ) and Best Buy ( BBY ) . Looking ahead to next week’s earnings, some big names are on the schedule, including FedEx ( FDX ) , Darden Restaurants ( DRI ) , General Mills ( GIS ) and more. We’ll keep everyone updated to any further “recommendation” changes we may be making. Have a great weekend everybody and be sure to check out our weekend premium content highlighting many names that we are currently evaluating. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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Market Wrap-Up for Dec.7 (CL, AVP, ABX, MET, POT, more)

Filed in gld, Gold, Gold Investing, Gold Investment by on December 7, 2009 0 Comments
Market Wrap-Up for Dec.7 (CL, AVP, ABX, MET, POT, more)

It’s a brand new week for the markets, but it was an uneventful day for the markets. The averages were mixed today as we had 4.1 Billion shares traded on the NYSE and 1.83 Billion shares traded on the NASDAQ. Early bullish commentary helped lift shares of Potash ( POT ) , Discover Financial ( DFS ) and Cummins Inc. ( CMI ) . Metlife ( MET ) closed higher affirming its estimates for next year. On the downside, Gold ( GLD ) pulled back pulled back, but did close off the lows of the day, as did gold-related shares of Gold Corp ( GG ) , Iamgold ( IAG ) and Brrick Gold ( ABX ) , which was downgraded to a neutral by Credit Suisse. Other names that fell on downgrade calls included Avon Products ( AVP ) , Marsh & McLennan ( MMC ) and Colgate-Palmolive ( CL ) . We continue to analyze our list of “recommended” dividend stocks for any possible changes, as well as our weekend watchlists for possible new additions. We will keep subscribers alerted to any possible changes Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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