U.S. Markets Trading April 24-30

A generally positive trading period on United States equity markets between April 24 and 30 was mirrored by some sharp declines among mining stocks. While the Dow Jones Industrial Average rose 1% and touched all-time high values in each of the five trading days, and while the Standard & Poor’s 500 Index crept up a fraction of a per cent to 1,482.37, the Philadelphia Gold and Silver Index (the XAU) fell 3.9% to 137.06 and declining stocks led advancing ones by 115 to 47 among the U.S.-listed miners.

The large copper producers all fell back, and given their current prices the losses were large. Rio Tinto fell US$5.64 to US$244, Freeport-McMoRan Copper & Gold slid US$3.20 to US$67.16, and Southern Copper, despite touching a 52-week high of US$88, finished US$3.53 lower at US$80.30.

Practically alone among the large base metal producers, the aluminum giants posted gains this week in the wake of some good earnings figures. Alcan rose US$4.04 to close at US$58.87, after posting earnings of US$591 million on revenues of US$6.4 billion, while Alcoa was up US$1.40 to US$35.49 both on record first-quarter earnings announced earlier in the month — US$673 million on US$7.9 billion in revenue — and on the announcement that it would seek buyers for several downstream units, including its auto parts and consumer packaging businesses.

On the gold side, Newmont Mining slid US$2.20 to US$41.70, following the announcement of its quarterly earnings; Newmont made US$68 million in the first quarter on revenues of US$1.3 billion. AngloGold Ashanti was down US$1.73 to US$44.57, and Gold Fields fell US78 to US$17.97.

There were a few brighter spots among the precious metal producers. Stillwater Mining tacked on US61 to finish at US$15.40, and Coeur d’Alene Mines was up US6 at US$4.09, while developer Apex Silver Mines added US36 to close the period at US$14.99.

On the Amex, the market seems to have taken notice of Uranerz Energy, which closed at US$7.10, up US23. The uranium explorer is drilling in the Powder River basin in Wyoming and has a joint venture in northern Saskatchewan that will see drilling in the summer season.

U.S. most active issues

		VOLUME(000s)	HIGH	LOW	CLOSE	CHANGE
Alcoa*	AA	57862	36.50	33.63	35.49	+1.40
Freeport McMo*	FCX	51032	70.91	66.95	67.16	-3.20
Coeur d Alene*	CDE	47981	4.18	3.91	4.09	+0.06
DRDGOLD*	DROOY	39752	0.79	0.72	0.76	-0.004
CVRD*	RIO	35573	42.79	39.87	40.61	-1.379
Puda Coal*	PUDC	32446	2.25	1.30	1.96	+0.65
Newmont Mng*	NEM	32324	44.43	41.64	41.70	-2.20
Goldcorp*	GG	31254	25.50	24.30	24.34	-1.09
Barrick Gold*	ABX	21464	28.95	28.06	28.11	-0.43
Peabody Enrgy*	BTU	21055	50.05	47.81	47.98	-1.06

U.S. greatest percentage change

		VOLUME(000s)	HIGH	LOW	CLOSE	CHANGE
Puda Coal*	PUDC	32446	2.25	1.30	1.96	+49.6
Patriot Gold*	PGOL	474	0.21	0.15	0.21	+23.5
World Vent*	WVNTF	82	0.17	0.13	0.17	+21.4
Golden Phoen*	GPXM	8545	0.445	0.34	0.43	+20.1
Commerce Grp*	CGCO	18	0.15	0.098	0.15	+15.3
Fischer-W Gld*	FWGO	948	0.08	0.065	0.075	+15.3
Clifton Mng*	CFTN	474	0.60	0.51	0.60	+15.1
Sparrowtech R*	SPMC	61	0.09	0.045	0.09	+12.5
Corriente Rs*	ETQ	381	3.81	3.05	3.55	+12.3
Crested Corp*	CBAG	285	3.27	2.90	3.19	+10.0
Klondike Star*	KDSM	188	1.45	1.05	1.11	-20.7
Caledonia Mng*	CALVF	15955	0.219	0.153	0.171	-14.5
Orezone Res*	OZN	1172	2.18	1.80	1.87	-13.8
Pac Gold*	PCFG	594	0.175	0.152	0.157	-12.7
Queenstake Rs*	QEE	3735	0.20	0.161	0.166	-12.6
Sao Luis Mng*	SAOL	576	0.86	0.68	0.68	-11.6
Tara Gold*	TRGD	1757	1.11	0.93	0.95	-11.2
Banro Res*	BAA	48	11.03	9.75	9.80	-11.1
Aurizon Mines*	AZK	2322	3.90	3.43	3.48	-11.0
Geocom Res*	GOCM	226	0.39	0.28	0.33	-10.8

U.S. greatest value change

		VOLUME	CLOSE	CHANGE
Alcan*	AL	11763975	58.87	+4.04
Massey Energy*	MEE	11974561	26.93	+1.72
Alcoa*	AA	57862218	35.49	+1.40
Foundatn Coal*	FCL	3020750	39.39	+0.66
Puda Coal*	PUDC	32446003	1.96	+0.65
Stillwater Mg*	SWC	5197280	15.40	+0.61
US Energy*	USEG	1780172	6.55	+0.59
Teck Comin B*	TCK	1424325	76.03	+0.58
Corriente Rs*	ETQ	381200	3.55	+0.39
Westmoreland*	WLB	304000	23.56	+0.37
Rio Tinto*	RTP	1388000	244.00	-5.64
Potash C Sask*	POT	6208959	179.52	-5.17
Cabot Corp*	CBT	2876400	45.30	-3.62
Southern Copp*	PCU	9095661	80.30	-3.53
Freeport McMo*	FCX	51032066	67.16	-3.20
Pan Am Silver*	PAAS	6150576	28.25	-2.41
ASA (Bermuda)*	ASA	210300	66.80	-2.29
Newmont Mng*	NEM	32323759	41.70	-2.20
Meridian Gold*	MDG	4327325	25.25	-1.75
AngloGold Ash*	AU	3258866	44.57	-1.73