Wall Street enjoyed a three-day winning streak and ended in positive territory despite sobering news at the end of the week that Spain’s indebted region of Valencia had asked the central government for financial aid, reigniting fears that Spain will need a sovereign bailout. The Dow Jones Industrial Average edged up 45.48 points, or 0.36% to close at 12,822.57, while the S&P 500 Index climbed 0.43%, or 5.88 points to finish at 1,362.66. The Philadelphia Gold and Silver Index fell 2.64 points, or 1.76% to 147.58.
Shares of Agrium closed the week US$5.46 higher at US$95.45 per share after the company said it expects second-quarter earnings in the range of $5.40–$5.50 diluted earnings per share, and its first-half earnings in the range of $6.72–$6.82 diluted earnings per share. The revised estimate is 15% higher than the company’s previous guidance, and would represent record earnings for the second quarter and the first half of the year. The company releases its second-quarter results on Aug. 2.
Other crop nutrient players fared well too, with Mosaic shares rising US$2.56 to US$57.50 on the back of strong demand for its products in Central and South America, and the extended spring season in North America. The company approved an annual dividend program of $1 per share — a 100% increase from the previous US50¢ per share — and reported fiscal fourth-quarter earnings of US$507 million, down from US$649 million a year ago. Earnings per diluted share in the quarter were $1.19, compared to $1.45 last year. The year-over-year decline was primarily driven by lower phosphate pricing.
BHP Billiton shares rose US83¢ to US$64.05 each. In an exploration and development report for financial year 2012 ended June 30, the company noted that six projects delivered first production, while a total investment commitment of US$7.5 billion enabled another eight projects — spanning iron ore, metallurgical coal, copper and liquefied natural gas — to move into execution. In addition, US$2.7 billion of pre-commitment funding was approved to progress other development projects.
U.S most active issues
| Volume | Week | |||||
| (000s) | High | Low | Close | Change | ||
| Alcoa | AA | 96757 | 8.44 | 8.22 | 8.26 | -0.16 |
| Freeport McMo* | FCX | 83251 | 34.76 | 32.16 | 33.77 | +0.54 |
| Alpha Nat Res* | ANR | 80840 | 7.20 | 6.53 | 6.74 | -0.89 |
| Arch Coal* | ACI | 65682 | 6.33 | 5.56 | 6.16 | +0.02 |
| Peabody Enrgy* | BTU | 38136 | 23.09 | 21.59 | 22.66 | +0.15 |
| Kinross Gold* | KGC | 37384 | 8.46 | 7.85 | 8.03 | -0.38 |
| Barrick Gold* | ABX | 36162 | 35.23 | 33.95 | 34.57 | -0.27 |
| Potash C Sask* | POT | 32916 | 46.16 | 43.11 | 45.43 | +1.65 |
| Goldcorp* | GG | 28654 | 34.22 | 32.48 | 33.66 | -0.28 |
| Mosaic* | MOS | 28453 | 59.00 | 54.38 | 57.50 | +2.56 |
U.S greatest percentage change
| Volume | Week | |||||
| (000s) | High | Low | Close | Change | ||
| Apolo Gold* | APLL | 14 | 0.15 | 0.09 | 0.14 | +40.0 |
| Silver Dragon* | SDRG | 7918 | 0.00 | 0.00 | 0.00 | +33.3 |
| Santa Fe Gold* | SFEG | 581 | 0.40 | 0.30 | 0.39 | +21.5 |
| Radius Gold* | RDUFF | 51 | 0.22 | 0.19 | 0.21 | +18.2 |
| America West* | AWSR | 208 | 0.16 | 0.12 | 0.13 | +18.1 |
| Geovic Mng* | GVCM | 201 | 0.12 | 0.10 | 0.12 | +18.0 |
| Primero Mng* | PPP | 145 | 3.00 | 2.57 | 2.99 | +16.3 |
| Oromin Expl* | OLEPF | 13 | 0.58 | 0.51 | 0.58 | +13.6 |
| Alderon Irn O* | AXXX | 37 | 2.64 | 2.25 | 2.48 | +12.2 |
| Augusta Res* | AZC | 76 | 1.94 | 1.60 | 1.79 | +10.4 |
| Elray Res* | ELRA | 1478 | 0.01 | 0.00 | 0.00 | -33.3 |
| Linux Gold* | LNXGF | 225 | 0.02 | 0.01 | 0.02 | -21.0 |
| AuRico Gold* | AUQ | 4488 | 7.75 | 6.14 | 6.34 | -17.9 |
| Gold Am Mng* | SILA | 84 | 0.03 | 0.03 | 0.03 | -16.1 |
| Quest Rare Mn* | QRM | 1008 | 1.52 | 1.23 | 1.29 | -13.4 |
| Goldfield* | GV | 918 | 2.48 | 2.01 | 2.02 | -12.9 |
| Alpha Nat Res* | ANR | 80840 | 7.20 | 6.53 | 6.74 | -11.6 |
| Kimber Res* | KBX | 296 | 0.80 | 0.67 | 0.69 | -10.1 |
| Golden Phoen* | GPXM | 1733 | 0.02 | 0.02 | 0.02 | -10.0 |
| Mirando Gold* | MRDDF | 13 | 0.27 | 0.26 | 0.26 | -10.0 |
U.S greatest value change
| Volume | Close | Change | ||
| Agrium* | AGU | 1517164 | 95.45 | +5.46 |
| Mosaic* | MOS | 28452869 | 57.50 | +2.56 |
| Potash C Sask* | POT | 32916284 | 45.43 | +1.65 |
| Soc Quim&M Ch* | SQM | 2000350 | 59.35 | +1.09 |
| BHP Billi-BHP* | BHP | 14089801 | 64.05 | +0.83 |
| New Gold* | NGD | 11388051 | 10.09 | +0.69 |
| HudBay Mnls* | HBM | 19445 | 8.25 | +0.68 |
| Silver Wheatn* | SLW | 14625865 | 26.47 | +0.59 |
| Freeport McMo* | FCX | 83251055 | 33.77 | +0.54 |
| BHP Billi-BBL* | BBL | 4149097 | 56.62 | +0.46 |
| Randgold Res* | GOLD | 2323408 | 86.19 | -4.22 |
| Alliance Rs P* | ARLP | 507039 | 57.68 | -2.36 |
| Franco-Nevada* | FNV | 1158056 | 45.73 | -1.74 |
| Rio Tinto* | RIO | 2542782 | 45.33 | -1.64 |
| AuRico Gold* | AUQ | 4487524 | 6.34 | -1.39 |
| OM Group* | OMG | 1018634 | 16.99 | -1.34 |
| Allied Nevada* | ANV | 224374 | 26.45 | -1.18 |
| Newmont Mng* | NEM | 20619488 | 45.15 | -1.01 |
| AngloGold Ash* | AU | 9845377 | 31.77 | -0.91 |
| Walter Energy* | WLT | 2653256 | 36.75 | -0.91 |
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