U.S. markets, Nov. 4-8

U.S. stock markets were in positive territory for the fifth week in a row, buoyed by unexpectedly strong jobs data showing that employers added 204,000 non-farm jobs in October, and better-than-expected gross domestic product (GDP) growth. Third-quarter GDP increased at an annual rate of 2.8%.

The good economic news was offset by worries that the U.S. Federal Reserve would scale back its US$85-billion monthly bond purchases, which sent the gold price down from over US$1,300 per oz. to US$1,299.50 per oz. at the week’s end. The Dow Jones Industrial Average climbed 0.94%, or 146.23 points, to close at 15,761.78 during the trading week, and the S&P 500 Index rose 0.51%, or 8.97 points, to close at 1,770.61.

Randgold Resources’ stock price advanced US$5.20 per share to US$76.68. The company reported that a strong performance at its Loulo–Gounkoto gold complex in Mali powered the company to an 80% quarter-on-quarter profit increase for the three months ended Sept. 30, despite a 3% drop in the average gold price it received. The quarter also saw early commissioning at its giant Kibali project in the Democratic Republic of the Congo. Group production climbed 19% to 233,676 oz. gold, while the company cut total cash costs by 17% to US$662 per oz.

Barrick Gold was the second most actively traded stock of the week, with 122.4 million shares changing hands. In a filing with U.S. regulators, the gold miner indicated that succession plans for chairman and founder Peter Munk are in the works, and would be ready before the company’s next annual meeting. The U.S. filing was part of Barrick’s $3-billion share offering announced on Oct. 31. Barrick’s shares closed the week at US$18.22, up US21¢.

Agrium shares climbed US$4.52 to close the week at US$90.07, despite a drop in net earnings. The fertilizer giant posted consolidated net earnings of $76 million, or 52¢ per share in the quarter, down from $129 million, or 80¢ per share in the third quarter of 2012. It provided guidance for diluted earnings per share of 80¢ to $1.25 in the fourth quarter.

U.S. most active issues


    Volume  
Company Symbol (000s) High Low Close Change
Alcoa* AA 176495 9.97 8.78 9.06 0.18
Barrick Gold* ABX 122381 18.35 17.59 18.22 + 0.21
Alpha Nat Res* ANR 84602 8.24 7.49 7.99 + 0.56
Freeport McMo* FCX 53703 37.51 35.6 36.58 0.2
Arch Coal* ACI 49484 4.68 4.19 4.43 + 0.14
Cliffs Nat Rs* CLF 46433 28.98 26.41 27.34   0
Newmont Mng* NEM 41430 28.08 26.27 27.57 + 1.59
Potash C Sask* POT 39560 32.78 31.55 32.6 + 1.2
Kinross Gold* KGC 38679 5.07 4.76 4.93 + 0.11
Molycorp* MCP 36782 5.09 4.61 4.85 0.17

U.S. greatest percentage change


    Volume  
Company Symbol (000s) High Low Close Change
Cardero Res* CDY 4030 0.17 0.12 0.15 + 20.6
US Energy* USEG 1751 3.48 2.9 3.42 + 18.3
Intrepid Pots* IPI 1863 16.56 14.04 16.17 + 13.6
Silver Std Re* SSRI 8297 6.27 5.53 6.24 + 12.4
Avino Silver* ASM 307 1.45 1.1 1.34 + 11.6
Exeter Res* XRA 170 0.76 0.66 0.75 + 8.7
Walter Energy* WLT 5854 19.5 17.11 18.62 + 8
Comstock Mng* LODE 553 1.9 1.71 1.87 + 8
Alpha Nat Res* ANR 84602 8.24 7.49 7.99 + 7.5
Randgold Res* GOLD 4205 79.28 72.58 76.68 + 7.2
Golden Mnls* AUMN 1534 0.71 0.45 0.51 26
Quest Rare Mn* QRM 1310 0.81 0.57 0.61 22
Loncor Res* LON 23 0.2 0.17 0.17 20.5
Intl Tower Hi* THM 431 0.51 0.4 0.41 18.4
Oxford Res P* OXF 33 1.67 1.31 1.34 13.5
Timmins Gold* TGD 948 1.48 1.22 1.26 10.6
North Am Pall* PAL 8587 0.86 0.68 0.76 10.5
Mines Managem* MGN 132 0.6 0.52 0.54 10
Great Panther* GPL 2143 0.83 0.74 0.75 9.6
Dejour Enterp* DEJ 429 0.17 0.14 0.16 8.8

U.S. greatest value change


Company Symbol Change Close Change
Randgold Res* GOLD 4205434 76.68 + 5.2
Agrium* AGU 1149253 90.07 + 4.52
Rio Tinto* RIO 3260085 53.17 + 2
Intrepid Pots* IPI 1863329 16.17 + 1.94
Mosaic* MOS 22705689 48.01 + 1.91
BHP Billi-BBL* BBL 2326618 63.29 + 1.74
Newmont Mng* NEM 41430295 27.57 + 1.59
Walter Energy* WLT 5853774 18.62 + 1.39
Potash C Sask* POT 39560191 32.6 + 1.2
Cabot Corp* CBT 1139950 47.62 + 0.91
US Silica Hld* SLCA 2952035 32.22 2.29
Compass Mnls* CMP 218651 73.51 1.7
Alliance Rs P* ARLP 304424 74.86 1.33
OM Group* OMG 998968 32.93 1.2
Central GoldT* GTU 279061 45.35 0.92
Alamos Gold* AGI 1063153 13.88 0.91
Coeur Mng* CDE 10631550 10.96 0.79
Yanzhou Coal* YZC 683920 9.75 0.69
Natural Rs Pt* NRP 236877 19.99 0.63
ASA (Bermuda)* ASA 296894 13.28 0.42
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