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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