The Dow Jones Industrial Average climbed 170.63 points to 15,570.28, or 1.11%, and the S&P 500 rose 15.27 points to 1,759.77, or 0.88%. The Philadelphia Gold & Silver Index advanced 7.55 points to 99.72, or 8.19%.
Agnico Eagle Mines vaulted US$4.61 to US$30.86. Strong third-quarter results outlined record quarterly gold production, coming in no small part from the Meadowbank mine. Quarterly net income reached $47.3 million, or 27¢ per share, down from last year’s $106.3 million, or 62¢ per share.
Cliffs Natural Resources bounced US$1.59 to US$24.99 on third-quarter results and the appointment of Gary Halverson — formerly interim chief operating officer of Barrick Gold — to the post of president and chief operating officer. Quarterly revenues surpassed expectations, which totalled US$1.5 billion after a 17% jump in global seaborne iron-ore pricing. Net income attributable to shareholders reached US$104 million, or US66¢ per diluted share. Cliffs has also cut its full-year outlook for capital expenditure by US$50 million.
Goldcorp advanced US$1.16 to US$26.74. Its adjusted net earnings in the third quarter reached $190 million, or 23¢ per share. CEO Chuck Jeannes told shareholders that Goldcorp has suspended exploration and deferred development at its Cerro Negro project in Argentina due to permitting delays, an unsustainable foreign-exchange rate and uncertainty over provincial taxation demands. But Jeannes said the company is on track to reach its annual production and cost guidance for 2013, and noted that two of the company’s three development projects would contribute in 2014. With a strong balance sheet and low debt, he added, Goldcorp is set to grow, with its peak year of capital spending behind it.
BHP Billiton shares rose US87¢ to US$63.24. Iron-ore production jumped by 23% in the third quarter to 49 million tonnes. The company has solid operations at its mines in Western Australia, and delivered first production ahead of schedule at its Jimblebar iron ore mine.
U.S. most active issues
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Alcoa* | AA | 122932 | 9.33 | 8.54 | 9.24 | – | 0.15 |
| Alpha Nat Res* | ANR | 62781 | 6.98 | 5.6 | 6.77 | + | 0.76 |
| Freeport McMo* | FCX | 56976 | 37.64 | 34.78 | 37.44 | + | 1.23 |
| Barrick Gold* | ABX | 49180 | 20.37 | 18.64 | 20.14 | + | 0.69 |
| Cliffs Nat Rs* | CLF | 46039 | 25.63 | 23.03 | 24.99 | + | 1.59 |
| Potash C Sask* | POT | 40622 | 32.27 | 29.95 | 31.19 | – | 0.53 |
| Newmont Mng* | NEM | 37401 | 28.49 | 27.01 | 27.83 | – | 0.05 |
| Kinross Gold* | KGC | 36545 | 5.24 | 4.86 | 5.18 | + | 0.16 |
| Arch Coal* | ACI | 32856 | 4.18 | 3.85 | 4.04 | + | 0.09 |
| Goldcorp* | GG | 30400 | 26.86 | 24.49 | 26.74 | + | 1.16 |
U.S. greatest percentage change
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Intl Tower Hi* | THM | 155 | 0.51 | 0.32 | 0.5 | + | 25.9 |
| Brigus Gold* | BRD | 374 | 0.75 | 0.65 | 0.75 | + | 18.2 |
| Agnico-Eagle* | AEM | 13491 | 31.4 | 24.91 | 30.86 | + | 17.5 |
| Silver Bull R* | SVBL | 1088 | 0.39 | 0.35 | 0.38 | + | 17 |
| Banro* | BAA | 4581 | 0.92 | 0.68 | 0.87 | + | 12.9 |
| Rubicon Mnls* | RBY | 2819 | 1.52 | 1.24 | 1.48 | + | 12.9 |
| Timberline Rs* | TLR | 363 | 0.2 | 0.18 | 0.2 | + | 12.7 |
| Alpha Nat Res* | ANR | 62781 | 6.98 | 5.6 | 6.77 | + | 12.6 |
| Entree Gold* | EGI | 576 | 0.42 | 0.37 | 0.42 | + | 12.4 |
| Gold Std Vnt* | GSV | 293 | 0.92 | 0.75 | 0.92 | + | 11.9 |
| Quaterra Res* | QMM | 149 | 0.15 | 0.1 | 0.12 | – | 17.8 |
| CVR Partners* | UAN | 187 | 19.97 | 17.21 | 17.21 | – | 11.7 |
| Tasman Mtls* | TAS | 820 | 0.92 | 0.77 | 0.78 | – | 11 |
| Uranium Ener* | UEC | 1290 | 2.03 | 1.79 | 1.84 | – | 8.4 |
| Quest Rare Mn* | QRM | 501 | 0.87 | 0.76 | 0.77 | – | 7.8 |
| Intrepid Pots* | IPI | 812 | 16.25 | 14.83 | 14.88 | – | 7.6 |
| Avalon Rare M* | AVL | 776 | 0.88 | 0.81 | 0.81 | – | 7.5 |
| Golden Mnls* | AUMN | 705 | 0.87 | 0.76 | 0.79 | – | 7 |
| PolyMet Mng* | PLM | 1580 | 0.76 | 0.67 | 0.7 | – | 6 |
| Richmont Mine* | RIC | 1922 | 1.36 | 1.23 | 1.27 | – | 5.9 |
U.S. greatest value change
| Company | Symbol | Change | Close | Change | |
| Agnico-Eagle* | AEM | 13491023 | 30.86 | + | 4.61 |
| Randgold Res* | GOLD | 2598936 | 76.73 | + | 2.14 |
| Cliffs Nat Rs* | CLF | 46038640 | 24.99 | + | 1.59 |
| Freeport McMo* | FCX | 56976011 | 37.44 | + | 1.23 |
| Franco-Nevada* | FNV | 2186587 | 45.66 | + | 1.21 |
| Goldcorp* | GG | 30399623 | 26.74 | + | 1.16 |
| Central GoldT* | GTU | 507092 | 48.04 | + | 1.15 |
| Royal Gold* | RGLD | 2743858 | 52.8 | + | 1.01 |
| BHP Billi-BBL* | BBL | 2190726 | 63.24 | + | 0.87 |
| Alpha Nat Res* | ANR | 62781323 | 6.77 | + | 0.76 |
| CVR Partners* | UAN | 186722 | 17.21 | – | 2.3 |
| Intrepid Pots* | IPI | 812054 | 14.88 | – | 1.23 |
| Amcol Intl* | ACO | 82738 | 33.02 | – | 0.61 |
| Agrium* | AGU | 445408 | 86.01 | – | 0.6 |
| US Silica Hld* | SLCA | 733416 | 32.53 | – | 0.55 |
| Potash C Sask* | POT | 40621647 | 31.19 | – | 0.53 |
| PVR Partners* | PVR | 436099 | 26.15 | – | 0.5 |
| Yanzhou Coal* | YZC | 873349 | 9.93 | – | 0.49 |
| Mosaic* | MOS | 13506292 | 45.94 | – | 0.49 |
| Vale* | VALE | 12375440 | 16.08 | – | 0.35 |
Be the first to comment on "U.S. markets, Oct. 21-25"