While earnings continued to come in better-than-expected during the Jan. 24-28 trading week, worries that Egyptian unrest may spread across the Middle East sent many stock indexes falling. The Dow Jones industrial average fell 48.14 points to close at 11,823.70, while the S&P 500 index rose 179.01 points to 13,437.58. The Philadelphia Gold and Silver index lost 0.41 point to 199.71.
Potash Corp. of Saskatchewan topped the list of value gains with an advance of US$9.91 to US$174.16 per share following news that it had doubled its fourth-quarter profit and also has plans to increase its dividend and split its stock. PotashCorp earned $482.3 million in the fourth quarter, or $1.61 per diluted share, up from $239.2 million or 79¢ per diluted share in the same quarter a year ago. (The company noted that its fight against BHP Billiton‘s hostile $40-billion takeover bid had shaved 16¢ per share from its fourth-quarter earnings.) PotashCorp expects demand for crop nutrients from Latin America, China and India will boost its potash shipments in 2011 to as much as 9.5 million to 10 million tonnes. Mosaic also performed well, adding US$6.58 to close at US$79.78 per share on lingering uncertainty about the impact Cargill‘s decision to divest its shares in the company will have on the fertilizer giant.
Coal stocks outperformed most others. Massey Energy advanced US$4.52 to US$57.23 per share and Alpha Natural Resources gained US$2.66 to US$57.88. The two companies announced plans to merge a day after markets closed Jan. 28. The proposed business combination would create a company with more than 110 mines and coal reserves of about 5 billion tons, including one of the largest, highest-quality metallurgical coal reserve bases in the world. Peabody Energy, meanwhile, climbed US$2.92 to US$61.09 per share. The company posted the second-best earnings in its history with full-year 2010 earnings before interest, taxes, depreciation and amortization of US$1.82 billion, a 41% increase over prior-year levels. Income from continuing operations rose 76% to US$805.1 million and the company set a new record for revenues: US$6.86 billion on sales of US245.9 million tons.
U.S. most active issues
VOLUMEWEEK
(000s)HIGHLOWCLOSECHANGE
Alcoa*AA15103416.6315.8216.13+0.34
Hecla Mining*HL799239.308.199.09+0.45
Silver Wheatn*SLW7362131.6028.8531.49+0.92
Freeport McMo*FCX63701111.62104.61106.17-2.23
Barrick Gold*ABX6212948.4245.6047.30+0.35
Kinross Gold*KGC4321917.1916.0016.95+0.04
Newmont Mng*NEM4294557.0954.3055.00-0.84
Goldcorp*GG4194741.5439.0440.74+0.48
Mosaic*MOS3786081.0873.1479.78+6.58
Northgate Mnl*NXG341512.722.412.62-0.03
U.S. greatest percentage change
VOLUMEWEEK
(000s)HIGHLOWCLOSECHANGE
Patriot Gold*PGOL810.130.080.11+57.1
Midway Gold*MDW15411.360.931.32+38.9
Cornerstone C*CTNXF2640.500.390.48+29.7
El Capitan Pr*ECPN32621.170.620.97+18.2
Argentex Mng*AGXM10991.070.881.00+13.6
Global Gold*GBGD1650.230.150.18+12.5
Intl Tower Hi*THM2749.458.219.36+11.8
Alexco Res*AXU26336.855.866.65+10.1
Patriot Coal*PCX554225.6422.8425.46+9.8
Endeavr Silvr*EXK11646.425.406.26+9.4
Commerce Grp*CGCO160.030.030.03-25.0
Radius Gold*RDUFF1650.830.680.70-15.6
New Jersey Mg*NJMC1110.300.250.25-13.7
Santa Fe Gold*SFEG12671.140.960.97-13.3
Am Engy Field*AEFI8490.830.520.70-12.5
Lake Vict Mng*LVCA1810.300.250.25-10.7
General Moly*GMO43575.795.065.06-10.1
Dejour Enterp*DEJ3900.340.300.30-9.0
Strata O&G*SOIGF3210.350.290.31-8.8
Uranium Res*URRE185592.952.452.54-8.6
U.S. greatest value change
WEEK
VOLUMECLOSECHANGE
Potash C Sask*POT26651485174.16+9.91
Mosaic*MOS3786024279.78+6.58
Compass Mnls*CMP45802290.92+5.57
Massey Energy*MEE2083168657.23+4.52
Alliance Rs P*ARLP49471068.46+3.50
Peabody Enrgy*BTU2750057261.09+2.92
Alpha Nat Res*ANR1689381757.88+2.66
Patriot Coal*PCX554188925.46+2.28
Cabot Corp*CBT326467242.37+1.76
Ivanhoe Mines*IVN1986850027.25+1.72
Randgold Res*GOLD686483476.43-3.10
Consol Energy*CNX2262535447.93-2.30
Freeport McMo*FCX63701352106.17-2.23
Mesabi Trust*MSB250413633.21-2.03
AngloGold Ash*AU1479102843.13-1.31
Vale*VALE3121257634.20-1.28
Teck B*TCK2031758157.90-1.21
BHP Billi-BBL*BBL803987275.20-1.17
Yanzhou Coal*YZC134857928.74-1.17
BHP Billi-BHP*BHP1435379187.20-0.99
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