Stock Market News & Stocks to Watch from StraightStocks » Goldcorp

Gold – Not the end, but possibly a correction

Contrarian Profits — Tue, 24 Nov 2009 14:59:06 +0000

The price of gold has surged this year, taking gold shares upwards with it. Readers of my Xcelerated Profits Report have rung the register with 45% profits on Goldcorp (NYSE: GG) and a triple-digit winner on Golden Star Resources (NYSE: GSS). We’re also up big on Yamana Gold (NYSE: AUY) at the moment. All is good, right? On the surface, perhaps. But not if you believe what the options market is saying…

Goldcorp’s Profit Doubled – Analyst Blog

Zacks Market Commentaries — Fri, 06 Nov 2009 15:15:00 +0000

Leading gold producer, Goldcorp’s (GG) adjusted net profit in the third quarter of 2009 more than doubled to 19 cents from last year’s 9 cents on higher gold prices and lower cash costs per ounce of gold. Reported earnings were also higher than the Zacks Consensus estimate of 15 cents.

However, on a GAAP basis, net earnings dropped 62% to 16 cents from 42 cents in the previous year due to a foreign exchange loss of $28.1 million. Revenues were up 25% to $691.9 million from $552.2 million in the previous year driven by a 12% rise in average realized prices to $968 per ounce from $865 per ounce in the year-ago quarter and a 9% increase in gold sales volumes to 601,500 ounces.

Gold production increased by 11% year over year to 621,100 ounces compared with 557,400 ounces in 2008 following higher production at the Red Lake and Porcupine mines in Canada, Wharf mine in US and El Sauzal mine in Mexico. Total cash cost of $295 per ounce of gold reflected a 15% decline from $346 per ounce in the same quarter of the previous year.

Operating expenses increased modestly by $24.3 million year over year, primarily as a result of increases in labour and planned maintenance costs. Long-term debt as of Sep 30, 2009 was $712.2 million, considerably higher than $5.3 million as of Dec 31, 2008. Goldcorp embarked upon external sources to finance its capital expenditure.

However, with cash and cash equivalent of $785.3 million as of Sep 30, 2009, higher debt should not be a major concern for Goldcorp. The Canadian gold miner is the world's second-largest by market value following the Toronto-based largest gold producer, Barrick Gold Corporation (ABX).

Goldcorp has raised its 2009 production outlook and chopped its cost guidance for the full year 2009. Gold production for 2009 has been raised to 2.4 million ounces, from the 2.3 million ounces projected in July. Last month, the company had begun producing metal concentrates at the Penasquito mine in Mexico. The project, which will yield gold, silver, lead and zinc, is on schedule to be commissioned by the end of this year.

Goldcorp has also lowered its forecast for 2009 bringing the total cash costs to about $300 an ounce, which includes revenue from silver and copper byproducts, from $365 an ounce forecast in May. Goldcorp is developing new mines to benefit from higher prices for gold.

However, the company is exposed to foreign exchange risk as it pays most costs in local currencies and sells metal in dollars, hurting profits when currencies such as the Mexican peso and Canadian dollar rise, in spite of the company selling more gold at higher prices.
Read the full analyst report on "GG"
Read the full analyst report on "ABX"
Zacks Investment Research

Zacks Industry Rank Analysis Highlights: Barrick Gold, Eldorado, Goldcorp, Freeport-McMoRan, Pan American Silver, Market Vectors Gold Miners, S&P 500 SPDR and Gold SPDR – Press Releases

Charles Rotblut — Thu, 22 Oct 2009 18:00:25 +0000

For Immediate Release

Chicago, IL – October 22, 2009 – Zacks.com releases the latest Zacks Industry Rank. Stocks featured in this week’s analysis include Barrick Gold (ABX), Eldorado (EGO), Goldcorp (GG), Freeport-McMoRan (FCX), Pan American Silver (PAAS), Market Vectors Gold Miners (GDX), S&P 500 SPDR (SPY) and Gold SPDR (GLD).

Zacks Industry Rank Analysis is written by Charles Rotblut, CFA, Senior Market Analyst for Zacks.com.

This week: Gold Miners’ Margin Problem

As gold sets new highs, it would only be natural to assume that profit forecasts for gold mining companies would be soaring too. Surprisingly, profit forecasts are not jumping.

Though some brokerage analysts have raised their full-year projections in recent weeks, the Zacks Consensus Estimate is not moving higher for most gold miners. Rather, it is essentially unchanged for Barrick Gold (ABX), Eldorado (EGO), Goldcorp (GG) and most of their peers.

Where are we seeing increases are for companies that are significantly dependant on other metals, such as copper or silver. For example, the 2009 Zacks Consensus Estimate for Freeport-McMoRan (FCX) has risen 67 cents over the past 30 days to $3.79 per share. (Yesterday, FCX reported third-quarter profits of $2.07 per share, topping forecasts for $1.14 per share). Analysts had Pan American Silver (PAAS) is also seeing expectations rise with the Zacks Consensus now at 75 cents per share, versus 70 cents a month ago.

Ore Quality Is An Issue

A big reason why the gold miners are not shining as brightly as the precious metal is the quality of the ore being mined. There is a general school of thought that the miners are digging up ore that is more difficult to process. As result, this is adversely impacting costs.

When miners dig up gold, they are effectively taking rock out of the ground. Though the goal would be to just dig up gold, the actual rocks contain various other metals and minerals. This means the mining company has to separate the gold from the other metals. Ore is considered to be higher quality when there is a greater concentration of gold in the rocks. Conversely, ore is considered to be of lower quality if the rock contains less gold.

Obviously, it is in every miner's best interest to dig up higher quality ore. However, as more and more gold is dug up, the quality of the ore decreases, hurting margins. It is this concern that has many analysts unwilling to raise their profit forecasts.

Investors should note that this is not dissimilar to what is occurring with oil. Many of the newly discovered oil fields are in areas where it is expensive to drill in. An example is Brazil's Tupi field, which lies several miles below sea level.

Not The First Time Analysts Have Been Cautious

What's interesting about the lack of estimate revisions is that this is not the first time it has happened. Back in February, when gold broke above $1,000 for the first time this year, I pointed out that brokerage analysts were not raising their forecasts. (Read Why Gold Miners Are Not Glittering.) Rather, analysts were cutting forecasts at that time.

Since then, gold mining stocks have rallied with Market Vectors Gold Miners (GDX) gaining about 43%. However, had you invested in a fund that tracked the S&P 500 instead, you would have realized an approximate 42% return. In other words, you could have gotten a similar return with considerably more diversification by buying S&P 500 SPDR (SPY) instead of GDX. (An investment in gold, via Gold SPDR (GLD) would have only earned you an 11.2% return over the same period of time.)

As you can see, while gold has been rallying, it has not given investors the best opportunities to profit. The mixed earnings estimate picture for gold miners suggests that the risks of investing in these companies remains elevated. Though gold mining stocks could still go higher, especially if third-quarter margins are better than expected, there are industries whose short-term prospects are brighter.

Zacks "Profit from the Pros " e-mail newsletter offers continuous coverage of the industries and the stocks poised to outperform the market. Subscribe to this free newsletter today by visiting http://at.zacks.com/?id=5611.

About Zacks

Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leonard Zacks. As a PhD in mathematics Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3:1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit From the Pros by going to http://at.zacks.com/?id=5610.

Join us on Facebook: http://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts

Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.

Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.

Contact: Charles Rotblut, CFA
Company: Zacks.com
Phone: 312-265-9352
Email: pr@zacks.com
Visit: www.zacks.com

Zacks Investment Research

Goldcorp Receives Certificate – Analyst Blog

Zacks Market Commentaries — Tue, 08 Sep 2009 21:00:56 +0000

Canada’s leading gold producer, Goldcorp Inc. (GG), recently announced that its Marlin mine in Guatemala has received certification under the International Cyanide Management Code for the use of cyanide for the production of gold.

Marlin is Goldcorp's third gold mine to receive full certification. The Marigold mine in Nevada was the first gold mine in the world to be fully certified under the Cyanide Code, followed by El Sauzal mine, which was the first gold mine in Mexico to be fully certified. The Cyanide Code is a voluntary industry program for companies involved in the production of gold using cyanide, developed with the support of the United Nations Environment Program.

This apart, Goldcorp is consistently acquiring shares in Osisko Mining Corporation, a junior gold mining company in Canada. According to the regulatory filing, Goldcorp has purchased 4.8% of Osisko Mining by buying about 8.5 million shares and 4.3 million share purchase warrants of Osisko Mining. Each warrant is exercisable for one common share of Osisko for $5.45 per share until Nov 17, 2009.

However, Goldcorp has notified that it does not have any immediate plans to increase its current 12.9% stake in Osisko. Osisko Mining owns Canada’s largest untapped gold deposit. The company is pursuing the Canadian Malartic project and has 6.28 million oz of proven and probable gold reserves at Canadian Malartic.

Goldcorp is one of the world's lowest cost and fastest growing gold producers. The company is benefiting from facility expansion, increasing gold prices and its acquisition strategy. With the Glamis Gold acquisition, Goldcorp has the best production profile among major gold companies such as Barrick Gold Corporation (ABX), Kinross Gold Corporation (KGC) and Newmont Mining Corporation (NEM).

Gold price trends remain positive, but higher interest rates and speculative concerns could push down prices. We remain concerned about Goldcorp’s near-term prospects because of its aggressive acquisition policy.

Apart from environmental and financial risks, the company also faces execution risk at its Amapari and Los Filos projects in Guerrero state. We maintain our Neutral recommendation on the stock.
Read the full analyst report on "GG"
Read the full analyst report on "KGC"
Read the full analyst report on "NEM"
Read the full analyst report on "ABX"
Zacks Investment Research

Stick This Ultimate Trading Strategy In Your Investment Arsenal

Contrarian Profits — Tue, 11 Aug 2009 19:25:25 +0000

pWhen it comes to investment strategies, you’re looking for two key elements right off the bat: Simplicity and understandability. After all, if you know what you’re doing, your chances of success are greatly heightened. And that’s especially true in the sometimes murky world of options./p pFor example, I often get questions from folks at seminars, asking why I don’t use strategies like butterfly spreads, condor spreads, or iron crosses./p pSimple. They’re too complex!/p pThere are many strategies that are much easier to execute than these and are proven to work time after time, so why confuse the issue?/p pEven if you’re an options aficionado, I believe in keeping it simple. Making a complex trade only defeats the purpose. Just because a trade is complex#8230;/p

Deep-In-The-Money Covered Calls: How to Lower Your Investment Costs Your Risk

Investment U — Fri, 24 Jul 2009 20:20:19 +0000

Deep-In-The-Money Covered Calls: How to Lower Your Investment Costs & Your Risk by Karim Rahemtulla, Advisory Panelist Recently, I explained the nuts and bolts of covered call investing - a bullish strategy that focuses more on returns than it does on risk. In my column, I used the example of Yamana Gold (NYSE: AUY), showing you how [...]

Deep In The Money Covered Calls: Lower Cost, Risk Win 75% Of The Time

Contrarian Profits — Tue, 21 Jul 2009 22:45:23 +0000

pLast week, I explained the nuts and bolts of a href="http://www.smartprofitsreport.com/spr/about-covered-call-trading.html"covered call investing/a - a bullish strategy that focuses more on returns than it does on risk./p pIn my column, I used the example of strongYamana Gold/strong (NYSE: a href="http://finance.yahoo.com/q?s=auy"AUY/a), showing you how to reduce your cost when buying stocks - and thereby increasing your upside potential if the shares move higher./p pToday, we’re going to kick things up a notch and explain how you can cleverly take the same covered call strategy and add a twist, by using deep-in-the-money covered calls. When you do so, you can achieve more consistent returns over time, while also protecting your capital./p pSimply put, I’m going to focus on mitigating risk…strong/strong/p pstrongGetting Deep-In-The-Money… Even When Your Stocks Fall/strong/p pWith a conventional covered call strategy, you#8230;/p

Blah Day for Gold

Contrarian Profits — Wed, 15 Jul 2009 18:30:06 +0000

pGold developed a slight upward trend late in Hong Kong and rode that trend mostly sideways through the end of the day to a marginal gain. The yellow metal closed at $925.30/oz., up $4.50. Overnight, gold is up sharply. /p pPlatinum’s graph looked quite similar to gold yesterday, as the precious metal developed what looked like the gentlest of trends in the black but managed to tack on quite a bit before all was said and done, ending the day at $1129/oz., up $16. Overnight, platinum is way up./p pSilver rounded out what ended up being a solid but uneventful day for the precious metals by showing the same slight trend as gold and platinum, ending at $12.87/oz., up 4 cents. Overnight, silver#8230;/p

ASA Limited: A Closed-End Fund Worth More Than Meets the Eye

Bullish Bankers — Fri, 12 Jun 2009 16:00:39 +0000

One aspect of my work that I love is interviewing interesting people. On June 4th, 2009 I had the pleasure of speaking with David J. Christensen, the CEO of ASA Limited [ASA: 65.44, -1.94 (-2.88%)], a closed-end, non-diversified investment company registered with the United States Securities and Exchange Commission. The Company was organized in Bermuda [...]

Will Ownership of Gold Silver Wheaton Be Outlawed?

Bullish Bankers — Thu, 04 Jun 2009 11:00:52 +0000

Before you ask the inevitable question “Have you lost your mind?” let me reveal the “method of my madness”. There are a growing number of people including some level-headed analysts who have publicly wondered whether it was possible that the private ownership of physical gold might be outlawed in the United States. Many would say [...]

Resource Stock Roundup:Tuesday, June 02nd, 2009

Doug Casey — Tue, 02 Jun 2009 19:20:23 +0000

pThe Canadian Markets continued to surge like a runaway train during Monday trading. For the tale of the tape, the TSX Exchange added 2.21%, while the TSX Gold Index gave back 2.6% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, rallied 1.46% with the decliners beating out the advancers by a 468 to 443 margin on a robust 259 million shares traded.br / a href="http://www.google.com/finance?q=TSE:G"Goldcorp/a is the latest major to go to the market looking to top up the till. The company announced a $750 million offering of convertible notes due 2014. The terms are yet to be reported. Goldcorp ended the day down C$2.20 at C$40.95./p pShares of a href="http://www.google.com/finance?q=CVE:HRC"Helio Resource/a added C$0.02 to close at C$0.52 after the junior announced two new gold#8230;/p

Eric Lemieux: Keep an Eye on Exploration Plays in the James Bay Area

The Gold Report — Wed, 27 May 2009 01:31:34 +0000

Eric Lemieux, metals and mining analyst with Laurentian Bank Securities, focuses on the emerging mineral wealth of the James Bay area of Quebec and discusses his favorite explorers in this exclusive interview with The Gold Report. Despite producers being more in favor, he believes the James Bay area with its exploration plays and favorable geological, [...]

Gold and Silver Defy The Selling Season

Bullish Bankers — Wed, 20 May 2009 16:00:01 +0000

The Dollar Gets Taken To The Woodshed; How To Play It With ETF’s!

ETF Daily News — Wed, 20 May 2009 15:11:30 +0000

The U.S. Dollar is crumbling, down 3.25% this month. Reality is finally sinking in: enormous budget deficits, out-of-control spending, monster bailouts, and banana republic tactics have put a bulls-eye on the greenback. Don’t get trampled as the dollar gets taken to the woodshed! Fortunately, some ETFs and ETNs are designed to exploit such an environment. We [...]

Time for the “Commodities Contrarian Contango” with Precious Metals and Energy

Bullish Bankers — Mon, 18 May 2009 16:00:08 +0000

Resource Stock Roundup:Friday, May 08th, 2009

Doug Casey — Fri, 08 May 2009 17:48:36 +0000

pProfit taking was the name of the game during Thursday trading on the Canadian Markets. For the tale of the tape, the TSX Exchange gave back 1.74%, while the TSX Gold Index lost 0.60% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, kept the drive alive by adding 0.50% with the advancers edging out the decliners by a 454 to 424 margin on 193 million shares traded./p pGoldcorp (NYSE:a href="http://www.google.com/finance?q=NYSE%3AGG"GG/a) saw its first-quarter profit rise by 27 percent to $290.9 million or $0.40 per share from $229.5 million or $0.32 per share in the same period a year earlier. Gold production rang in at 616,500 ounces marking an 18 percent increase. The major expects to produce about 2.3 million ounces#8230;/p

Zacks Earnings Preview: Walt Disney Company, Activision Blizzard, California Pizza Kitchen, Goldcorp and Teva Pharmaceutical Industries Ltd. – Press Releases

Charles Rotblut — Mon, 04 May 2009 11:13:43 +0000

For Immediate Release

Chicago, IL - May 4, 2009 - Zacks.com releases the list of companies likely to issue earnings surprises. This week’s list includes Walt Disney Company (DIS), Activision Blizzard (ATVI), California Pizza Kitchen (CPKI), Goldcorp (GG) and Teva Pharmaceutical Industries Ltd. (TEVA). To see more earnings analysis, visit http://at.zacks.com/?id=3207.

Every day, Zacks.com makes 4 stock picks available, free of charge. To see them, go to http://at.zacks.com/?id=3567.

The Week's Events

Another busy week.

Results from the bank stress tests are penciled for Thursday. The release date was pushed back after several banks objected to the initial findings. It's not just the results that will matter, but also how much validity the financial markets give them.

On the earnings front, about 850 companies are confirmed to report, including 86 members of the S&P 500. Dow components Kraft Foods (KFT) and Walt Disney (DIS) are on the schedule, as is Cisco Systems (CSCO).

April employment numbers will be published on Friday. Current estimates call for a loss of 620,000 jobs. This would be a small improvement from March, but inline with what we have seen over the past several months.

Monday: March construction spending, March pending home sales
Tuesday: April ISM services index
Wednesday: ADP employment survey, weekly crude inventories
Thursday: Preliminary Q1 productivity, March consumer credit, weekly initial jobless claims
Friday: April nonfarm payrolls and unemployment, March wholesale inventories

Fed Chairman Ben Bernanke will testify before the Joint Economic Committee on Tuesday morning. On Thursday, he'll speak about banking supervision at a Chicago Fed Bank conference.

Richmond Fed President Jeffrey Lacker will give his economic outlook on Monday afternoon. San Francisco Fed Bank President Janet Yellen will speak about the financial crisis on Tuesday.

The rally is losing steam. Though overall April returns were fantastic, the month wasn't as it might seem. From the Apr 16 close to the Apr 30 close, the Dow gained a mere 43 points, or 0.5%.

There will probably be a high amount of volatility during the latter half of the week, with the release of the bank stress results and the employment numbers.

Companies That Could Issue Positive Earnings Surprises

Two weeks ago, Activision Blizzard (ATVI) said that revenues and earnings were "tracking ahead" of its prior outlook. The videogame maker had previously called for GAAP earnings of 8 cents per share, though no new guidance was given. The consensus estimate is a penny lower at 7 cents per share. The most accurate estimate is far more bullish at 11 cents per share. ATVI has a lengthy track record of topping expectations. Activision Blizzard is scheduled to report on Thursday, May 7, after the close of trading.

California Pizza Kitchen (CPKI) recently raised its first-quarter guidance. The restaurant chain expects earnings to total between 9 and 10 cents per share, versus its previous guidance for 3 to 5 cents. The covering brokerage analysts promptly changed their forecasts, sending the consensus estimate 5 cents higher to 10 cents per share. There still could be upside, however, as CPKI has topped expectations during 3 out of the last 4 quarters. California Pizza Kitchen is scheduled to report on Thursday, May 7, after the close of trading.

Earnings estimates for the gold miners have been rising and Goldcorp (GG) is no exception. During the past 30 days, 4 brokerage analysts have revised their first-quarter estimates higher. Though the changes did not move the consensus earnings estimate (it calls for profits of 12 cents per share), they did contribute to a bullish most accurate estimate of 15 cents per share.

This is a risky pick since GG, like other gold miners, has disappointed in the past. Nonetheless, the upward revisions are a reason to at least keep an eye on the stock. Goldcorp is scheduled to report on Thursday, May 7, before the start of trading.

Teva Pharmaceutical Industries Ltd. (TEVA) has delivered 8 consecutive positive earnings estimate surprises. Ahead of the company's first-quarter report, some analysts are anticipating another round of good results. The consensus earnings estimate has improved by 1-cent over the past 30 days to 68 cents per share. The most accurate estimate is more bullish at 70 cents per share. Teva Pharmaceutical is scheduled to report on Tuesday, May 5, before the start of trading.

Companies That Could Issue Negative Earnings Surprises

Walt Disney Company (DIS) has lost some of its magic. The company missed estimates during the past 2 quarters and first-quarter forecasts are falling. Cuts by 8 brokerage analysts have resulted in a 2-cent decline in the consensus earnings estimate to 41 cents per share. The most accurate estimate is even more bearish at 39 cents per share. Disney is scheduled to report on Tuesday, May 5, after the close of trading.

Charles Rotblut, CFA is the senior market analyst for Zacks.com.

Want to turn earnings surprises into quick profits? Learn how by visiting http://at.zacks.com/?id=3206.

About the Zacks Rank

Since 1988, the Zacks Rank has proven that "Earnings estimate revisions are the most powerful force impacting stock prices." Since inception in 1988, #1 Rank Stocks have generated an average annual return of +28%. During the 2000-2002 bear market, Zacks #1 Rank stocks gained +43.8%, while the S&P 500 tumbled -37.6%. Also note that the Zacks Rank system has just as many Strong Sell recommendations (Rank #5) as Strong Buy recommendations (Rank #1). Since 1988, Zacks Rank #5 stocks have underperformed the S&P 500 by 82% annually (+2% versus +10%). Thus, the Zacks Rank system allows investors to truly manage portfolio trading effectively.

Zacks "Profit from the Pros" e-mail newsletter offers continuous coverage of the industries and the stocks poised to outperform the market. Subscribe to this free newsletter today by visiting http://at.zacks.com/?id=4988.

About Zacks

Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leonard Zacks. As a PhD in mathematics Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros by going to http://at.zacks.com/?id=3568.

Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.

Contact: Charles Rotblut, CFA
Company: Zacks.com
Phone: 312-265-9352
Email: pr@zacks.com
Visit: www.Zacks.com

Zacks Investment Research

Obama Won’t Let GM Go Bust… Here’s Why

Contrarian Profits — Tue, 31 Mar 2009 20:09:05 +0000

tr strongNotes from thebr /Investment Underground/strongbr / /tr tr pTuesday, March 31, 2009br /Recoleta, Buenos Aires, Argentina /p pstrongTeam Obama talks bankruptcy… But he doesn’t really mean it… Politics continue to drive the economy… The most ruinous CEO in history… Deutsche Bank: This crisis is “far from over”… Bailouts reach $10.5 trillion and counting… Gold is where the smart money is right now… Money supply increases… And more! /strong /p pstrong*** Is Team Obama finally coming to its senses? /strongbr / Instead of keeping the fatally wounded U.S. auto industry on a drip feed of tax dollars, Obama is considering allowing GM and Chrysler to enter bankruptcy. /p pA headline in the emWSJ/embr / reads “U.S. Threatens Bankruptcy for GM, Chrysler.” How backwards has the U.S. economy become when bankruptcy for a failed company is#8230;/p/tr

Wednesday’s Market Recap (03/25/09)

Bullish Bankers — Thu, 26 Mar 2009 02:57:10 +0000

A turbulent day for the markets ended with a slight gain. The markets started out strong due to the release of strong economic data on housing and durable goods. The Dow and NASDAQ closed at 7749.81 and 1528.95 respectively. The S&P was up 0.96% to close at 813.88. Oil was down as news was released that [...]

Silver Wheaton Corp. (SLW) to Acquire Silverstone Resources (TSX: SST)

QualityStocks — Thu, 12 Mar 2009 14:57:37 +0000

Silver Wheaton Corporation announced that they have entered into a definitive agreement pursuant to which Silver Wheaton will acquire all of the outstanding common shares of Silverstone in exchange for 0.185 common shares of Silver Wheaton for each common share of Silverstone Resources. In analyzing the specifics of this agreement, we see that based on the [...]

Take Your Investments to the Next Level with Covered Calls

Contrarian Profits — Wed, 04 Mar 2009 11:00:39 +0000

pKarim Rahemtulla of the Smart Profits Report is on a mission. He is here to rescue you out of the darkness, doom and gloom and into the light on investing in the “brutal bear” market./p pHere he shows us covered call strategy investing and how it works./p pThis from Karim:/p blockquotepJust what is the best way to profit in a stock market like this?/p pOur mission here is not only to show you the sectors, industries, and stocks that are set up to fare well, and the trends you can play to your advantage, but to also show you how to profit from them in more advanced, sophisticated ways than ordinary investors./p pAnd when I say “advanced” and “sophisticated,” I don’t mean “complex to understand”#8230;/p/blockquote

Lou Paquette: Gold Will Be The Last Man Standing

The Gold Report — Sat, 21 Feb 2009 12:59:29 +0000

The Gold Report caught up with newsletter writer and commentator Lou Paquette, who launched the website Emerging Growth Stocks in 1995 to provide investors and speculators with a unique alternative to what he saw was a growing problem with corporate governance and conflict of interest on Wall Street. He believes that as people finally begin [...]

James West: Economic Crisis — A Crucible for Transforming Trashed Juniors into Treasured Equities?

The Gold Report — Tue, 17 Feb 2009 22:08:47 +0000

A gold bug who prefers equities as investments to bullion and bars, Midas Letter publisher James West expects his portfolio picks to shine to the tune of at least 15% appreciation on average. In this exclusive interview with The Gold Report, that sunny outlook stands in stark contrast to other things the well-regarded adviser sees [...]

And Then There’s This…Thursday, February 12th, 2009

Contrarian Profits — Thu, 12 Feb 2009 20:05:39 +0000

pWell, the bottom for gold on Wednesday was about 2:00 p.m. in Hong Kong#8230;1:00 a.m. in New York. From there it rose in fits and starts until the Comex open#8230;where it got sold off for about an hour or so. Then, at precisely 9:00 a.m., away it went to the upside#8230;until it ran into some opposition at the London p.m. fix [3:00 p.m. London...10:00 a.m. New York.] The London close occurred an hour later#8230;and that was obviously it for the day. Volume was extremely heavy#8230;170,000 contracts were traded#8230;and that#8217;s net of what few switches there were./p pThe silver chart was almost a mirror image of its golden cousin#8230;with the top silver price coming at the close of London trading./p pThe open interest#8230;/p

Stocks for 2009

Declan Fallon — Tue, 23 Dec 2008 15:47:00 +0000

Like the Christmas sales the stocks for 2009 are making an early appearance. So let's see who has gone for what:br /br /a href="http://moneycentral.msn.com/articles/invest/jubak/stocks.asp"Jubak at MSN/a:br /br /liExxon Mobil (strongXOM/strong); target of $91br /liJP Morgan (strongJPM/strong); Preferred share target of $42br /liEnergy Transder Partners (strongETP/strong); target of $42br /liONEOK Partners (strongOKS/strong); target of $52 by December 2009 and $58 by June 2009.br /liPetroleo Brasileriro (strongPBR/strong); target of $41br /liTransocean ltd (strongRIG/strong); target of $117.60br /liGorman-Rupp (strongGRC/strong); target of $35br /liMiddleby Corp (strongMIDD/strong); target of $75br /liChesapeake Energy (strongCHK/strong); target of $39br /liUS Bancorp (strongUSB/strong); target of $44br /liKinross Gold Corp (strongKGC/strong); target of $19.75 by June 2009br /liEnbridge Inc (strongENB/strong); target of $48 by February 2009br /liFortescue Metals Group (strongFSUMF/strong); target of $5br /liPlum Creek Timber Co. (strongPCL/strong); target of $53br /liRayonier Inc (strongRYN/strong); target of $55br /liUltra Pertoleum (strongUPL/strong); target of $107br /liThompson Creek Metals (strongTC/strong); target of $9.90br /liYara International (strongYARIY/strong); target of $38br /liMaxwell Technologies (strongMXWL/strong); target of $14br /liDeere and Co. (strongDE/strong); target of $62br /liDevon Energy Corp (strongDVN/strong); target of $85br /liGoldcorp (strongGG/strong); target of $46br /br /span class="fullpost"a href="http://articles.moneycentral.msn.com/Investing/CompanyFocus/9-experts-stock-picks-for-2009.aspx"MSN Experts/a:br /br /The Prudent Speculator:br /br /liVF (strongVFC/strong)br /liManitowoc (strongMTW/strong)br /liGamestop (strongGME/strong)br /br /The Oberweis Rerport:br /br /liGreen Mountain Coffee Roasters (strongGMCR/strong)br /liVisionChina (strongVISN/strong)br /liIllumina (strongILMN/strong)br /br /Turnaround Letter:br /br /liTeradyne (strongTER/strong)br /liQwest Communications International (strongQ/strong)br /br /The Value Line Investment Survey:br /br /liJohnson and Johnson (strongJNJ/strong)br /liMcDonald's (strongMCD/strong)br /liW.W. Grainger (strongGWW/strong)br /br /Investment Quality Trends:br /br /liBarrick Gold (strongABX/strong)br /liArcher-Daniels-Midland (strongADM/strong)br /liSigma-Aldrich (strongSIAL/strong)br /br /Zacks Elite:br /br /liBrisotl-Myers Squibb (strongBMY/strong)br /liApollo Group (strongAPOL/strong)br /br /Almanac Investor:br /br /liUnited States Oil (strongUSO/strong)br /liDirexion Energy Bull 3X Shares (strongERX/strong)br /liUltra Technology ProShares (strongROM/strong)br /liUltra Semiconductor ProShares (strongUSD/strong)br /liUltra Financials ProShares (strongUYG/strong)br /liUltra Real Estate (strongURE/strong)br /br /Global Investing:br /br /liBanco Santander (strongSTD/strong)br /liComputershare (strongCMSQF/strong)br /liSPDR Gold Shares (strongGLD/strong)br /liiShares COMEX Gold Trust (strongIAU/strong)br /br /a href="http://www.thestreet.com/video/10451714/cramer-picks-for-2009-housing-rally.html?cm_ven=AOLcm_cat=FREEcm_ite=NAs=1"Jim Cramer/a:br /br /Housing for 2009...br /br /liSears Holdings (strongSHLD/strong)br /liHome Depot (strongHD/strong)br /liTol Brothers (strongTOL/strong)br /liBeazer Homes (strongBZH/strong)br /liBlack and Decker (strongBDK/strong)br /liFederal Home Loan Mortgage (strongFRE/strong)br /liFederal National Mortgage (strongFNM/strong)br /liLoews Corp (strongL/strong)br /br /a href="http://www.contrarianprofits.com/articles/steve-mcdonalds-8-big-money-picks-for-2009/9875"Contrarian Profits/a:br /br /liFord (strongF/strong)??br /liGeneral Electric (strongGE/strong)br /liBrisotl Myers Squibb (strongBMY/strong)br /liVerizon (strongVZ/strong)br /liATT (strongT/strong)br /liLorillard (strongLO/strong)br /liAltria (strongMO/strong)br /liGoldman bond 7.35% yieldbr /liAlcoa bond 6.00% yieldbr /br /a href="http://www.cnbc.com/id/28234358"European Stocks from CNBC/abr /br /liBSkyB (strongBSY/strong)br /liNestle (strongNESN/strong)br /liZurich Life (strongZURN/strong)br /liMisys (strongMIS/strong)br /liDialog (???)br /liAccor (strongAC/strong)br /br /a href="http://209.85.229.132/search?q=cache:gzFet4k7w8MJ:www.australianstockwatch.com/2008/12/stock-picks-yr-2008-2009.html+stock+picks+for+2009hl=enct=clnkcd=7"Australian Stocks/abr /br /liBHP Billiton (strongBHP/strong)br /liMacArthur Coal (???)br /br /a href="http://v2.monolog.it/post/61335515/top-stock-picks-for-2009"Monolog top 10 US and European/a:br /br /US:br /br /liSierra Wireless (strongSWIR/strong)br /liVaalco Energy (strongEGY/strong)br /liTerra Industries (strongTRA/strong)br /liVerigy (strongVRGY/strong)br /liCF Industries Holdings (strongCF/strong)br /liCTC Media (strongCTCM/strong)br /liMEMC Electronic Materials (strongMEMC/strong)br /liSucampo Pharmaceuticals (strongSCMP/strong)br /liEMCOR Group (strongEME/strong)br /liKBR (strongKBR/strong)br /br /EU:br /br /liAndritz (strongANDR/strong)br /liGestevision Telecinco (strongTL5/strong)br /liAntena 3 de Television (strongA3TV/strong)br /liEVS Broadcast Equipment (strongEVS/strong)br /liTomTom (strongTOM2/strong)br /liGEA Group (strongG1A/strong)br /liVallourec (strongVK/strong) br /liMAN (strongMAN/strong)br /liSalzgitter (strongSZG/strong)br /liRexel (strongRXL/strong)br /br /a href="http://money.aol.com/investing/cheap-stocks"AOL Financial Cheap stocks for 2009/a:br /br /liPepsiCo (strongPEP/strong)br /liCosto (strongCOST/strong)br /liAmazon (strongAMZN/strong)br /liJ.M. Smuckers (strongSJM/strong)br /liEstee Lauder (strongEL/strong)br /liIBM (strongIBM/strong)br /liClorox (strongCLX/strong)br /liGoldman Sachs (strongGS/strong)br /liSt. Jude (strongSTJ/strong)br /liBMC Software (strongBMC/strong)br /liHudson City Bancorp (strongHCBK/strong)br /liIntuitive Surgical (strongISRG/strong)br /liBurlington Northern Santa Fe (strongBNI/strong)br /liMonsanto (strongMON/strong)br /liDominion (strongD/strong)br /br /All of these stocks will be added to Zignals a href="http://www.zignals.com/main/charts/trystockcharts.aspx"YourCall/a (part of Zignals a href="http://www.zignals.com/main/charts/trystockcharts.aspx"Stock Charts/a) and act as a barometer for 2009. Challenge yourself against the Pros and make a href="http://www.zignals.com/main/charts/trystockcharts.aspx"YourCall/a for 2009. br /br /span style="font-size:80%; color:#cccccc;"Dr. Declan Fallon, Senior Market Technician, a href="http://www.zignals.com"Zignals.com/a the free stock alerts, market alerts, and stock charts website /span/span

Reverse Convertible Notes: A Real Safe Haven

Contrarian Profits — Mon, 24 Nov 2008 12:55:14 +0000

pTraditionally safe dividend stocks have been whacked along with everything else by this credit crisis, as struggling companies are forced to slash payments. But strongDavid Newman/strong says Reverse Convertible Notes are little-known securities that truly guarantee a steady income. And you never have to own the underlying stock#8230;/p pMore from David at The a href="http://www.SovereignSociety.com" class="alinks_links"Sovereign Society/a:/p blockquotepDividend-paying stocks used to offer a way to #8220;play it safe.#8221; Especially during bear markets, the regular paychecks could help #8220;soften the blow.#8221; But not anymore. The truth is; dividend investors are getting hammered./p pemThe Wall Street Journal/em calculated that 36 companies in the Standard #38; Poor#8217;s 500-stock index have cut or suspended dividends this year, removing $33.3 billion from investors#8217; pockets./p pAnd of the 7,000 or so publicly traded companies#8230;/p/blockquote

Obama Says Don’t Worry About Debt, Whole Cities Seek Bailout Bucks, Job Cuts, Gold Forecasts, and More!

Contrarian Profits — Mon, 17 Nov 2008 23:19:47 +0000

Welcome to the Fantasyland issue of The 5…“Shouldn’t worry about the deficit,” assures Barack Obama… “yes we can” keep spending. Can’t balance the budget of your dreams? Call the Treasury… Atlanta’s doing it. Gold still suffering… Ed Bugos’ future fantasies for precious metals stocks. Plus, no one immune to the great housing illusion… the infamous Neverland Ranch shuts its doors.

“We shouldn’t worry about the deficit next year or even the year after,” the U.S. president-elect Barack Obama said on 60 Minutes over the weekend.

We were afraid that Barack’s message of “change you can believe in” was going to make it harder to take issue with politics as usual in Washington. But now we see he already drank the Kool-Aid and we…

Resource Stock Roundup Monday, November 3, 2008

Doug Casey — Mon, 03 Nov 2008 17:18:12 +0000

Le,The junior board made it four winning days in a row but the big board equities got a little spooked during Halloween Friday trading on the Canadian markets.

For the tale of the tape, the TSX Exchange lost 0.95%, while the TSX Gold Index fell 6.80% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, added 4.04% with the advancing issuers swamping the decliners by a 483 to 368 margin on volume of 161 million shares traded.

Goldcorp tabled third quarter earnings of $297 million or $0.42 per share thanks to a big foreign exchange gain and stronger gold prices. Taking out the $240 million foreign exchange gain, profit fell to $64.7 million or $0.09 a share, from $82.3 million,…

S&P Update and Bearish News on Commodities; SLV Chart

Sean Brodrick — Fri, 31 Oct 2008 20:05:03 +0000

Well, the S&P 500 did not quite go high enough to give us an outside reversal day. Last week's high was 985.44. This week's high was 948.38.

However, some people will say these lines are drawn in crayon, not with razors. So, make your own decision.

In other news, lots of bearish stuff on commodities ...

Vale Will Cut Output as Credit Crunch Crimps World Iron-Ore, Metals Demand Cia. Vale do Rio Doce, the world's biggest iron-ore producer and second-largest nickel supplier, will lower output because the global credit crisis curbed metal demand.

Gold Futures Tumble 18% in October, Most in 28 Years, as Dollar Rebounds Gold futures fell, posting the biggest monthly decline in 28 years, as the dollar climbed, reducing the appeal of the precious metal as an alternative investment. Silver also fell.

Wheat Heads for Biggest Monthly Decline in 22 Years on Dollar's Strength Wheat fell for a second day as a worsening economic crisis and a rallying dollar erode global demand for supplies from the U.S., the world's biggest exporter of the grain.

Commodities Head for Worst Month in 52 Years as Economies Slow Worldwide Commodities headed for their worst month since at least 1956 on concern that a slump in global economic growth will sap demand for raw materials.

And 1 piece of of bullish news on oil ...

Crude Oil Rises as Colder Weather Increases U.S. Demand for Heating Fuels Crude oil rose, following heating fuels higher, on forecasts for lower temperatures in the Midwest next week.

And resource company news continues to be pretty good ...

Goldcorp Profit Rises Fourfold After Output Increases, Bullion Price Gains Goldcorp Inc., the world's second- largest gold producer by market value, said third-quarter profit rose fourfold because of higher bullion prices and a foreign- exchange gain.

Chevron profit doubles to $8 billion Chevron Corp. said Friday its third-quarter profit more than doubled to nearly $8 billion, built on the summer's record run of triple-digit crude oil prices. At the same time, the subsequent slump in the global economy and sharp drop in energy prices have prompted the nation's second-biggest oil company to rethink how quickly it should spend its third-quarter winnings.

Finally, let's look at the SLV.

The SLV (Silver ETF) continues to consoliate Wednesday's rally and remains above the 10-day moving average (the blue line). Momentum indicatos are turning bullish hinting that sideways to higher prices are possible near-term. Upside targets are 10.24 and then 12.50.

Have a good weekend.

Earnings results and economic reports – Week 44.

Vlada Kynsky — Mon, 27 Oct 2008 12:05:00 +0000

Monday:
Economic New Home Sales (450K)
Earnings Arch Coal (ACI), Humana (HUM), FPL (FPL), Sohu (SOHU), Tidewater (TDW), Verizon (VZ), Atheros (ATHR), CF Ind (CF), Meritage (MTH), Vertex (VRTX), Zoran (ZRAN), Universal Health (UHS)

Tuesday:
Economic Consumer Confidence (52.0)
Earnings Boyd (BYD), BP (BP), Ceradyne (CRDN), KC Southern (KSU), Royal Carib (RCL), SAP (SAP), Schnitzer (SCHN), US Steel (X), Under Armour (UA), USG (USG), Valero (VLO), Whirlpool (WHR), Apollo (APOL), Centex (CTX), Cephalon (CEPH), Fiserv (FISV), GMarket (GMKT), Lan Air (LFL), McKesson (MCK), NetLogic (NETL), Walter (WLT), Websense (WBSN), STMicro (STM)

Wednesday:
Economic Weekly Crude, Durable Orders (-1.0%), FOMC Statement
Earnings Aetna (AET), AGCO (AG), Comcast (CMCSA), Corning (GLW), Hess (HES), Garmin (GRMN), Legg Mason (LM), Moody’s (MCO), Newmont (NEM), SPX (SPW), Tesoro (TSO), Agnico (AEM), Cliffs Nat Res (CLF), CME Group (CME), First Solar (FSLR), Gen Cable (BGC), Hartford (HIG), Harris (HRS), Murphy (MUR), Prudential (PRU), Symantec (SYMC), Visa (V)

Thursday:
Economic Weekly Claims (473K), GDP & Chain Deflator (-0.5%, 4.0%)
Earnings AmerisourceB (ABC), Barrick (ABX), BJ Services (BJS), Carbo C (CRR), CIGNA (CI), Com Metals (CMC), CVS (CVS), Kodak (EK), Exxon (XOM), Intl Paper (IP), Marathon Oil (MRO), Motorola (MOT), Shaw (SGR), Waste Mgt (WMI), Chesapeake (CHK), Dynamic Matl (BOOM), Elect’ Arts (ERTS), Gen-Probe (GPRO), KLA-Tencor (KLAC), Massey (MEE), Oceaneering (OII), O’Seas Ship (OSG), Sequenom (SQNM), Sun Micro (JAVA), Varian Semi (VSEA), Wynn (WYNN), XL Cap (XL)

Friday:
Economic Inc & Spend (0.1%, -0.2%), EC Index (0.7%), Chicago PMI (48.0), Michigan (57.5)
Earnings Alliant (LNT), Barnes (B), Burger King (BKC), Chevron (CVX), Clorox (CLX), Cummins (CMI), Goldcorp (GG), Healthspring (HS), MDU (MDU), NYSE Euro (NYX), Progress Energy (PGN), Weyerhaeuser (WY)

Resource Stock Roundup Monday, October 20th, 2008

Doug Casey — Mon, 20 Oct 2008 13:31:38 +0000

It was a quiet news day during Friday trading on the Canadian markets as investors bailed out of the gold stocks and went bargain hunting for undervalued base metal plays. For the tale of the tape, the TSX exchange rallied 3.16%, while the TSX Gold Index fell 2.9% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, added 0.89% with the declining issuers inching past the advancers by a 444 to 419 margin on good volume of 169 million shares traded.

Shares of Hudbay Minerals (HBM) added C$0.38 to close at C$5.35, while Lundin Mining failed to attract interest losing C$0.05 to close at C$1.95.

Diversified miner Teck Cominco (TCK) added C$1.20 to close at C$16.30.

Shares of Blue Note Mining (BN)…

Resource Stock Roundup Friday, October 17, 2008

Doug Casey — Fri, 17 Oct 2008 17:16:07 +0000

The hemorrhaging continued during Thursday trading on the Canadian Markets as falling commodity prices had investors running for the exits yet again. For the tale of the tape, the TSX Exchange lost 0.58%, while the TSX Gold Index plunged 9.5% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, fell 5.39% with the declining issuers swamping the advancers by a 668 to 247 margin on volume of 153 million shares traded.

Junior explorers that have liquidity faced the brunt of the selloff with Full Metal Minerals dropping C$0.075 to close at C$0.315, Hathor Exploration (HAT) lost C$0.23 to close at C$1.50 and VMS Ventures (VMS) dropped C$0.01 to close at C$0.28. Full Metals is in the midst of the bulk…

Resource Stock Roundup Thursday, October 9, 2008

Doug Casey — Thu, 09 Oct 2008 17:19:07 +0000

The unified interest rate cuts that included a 0.5% reduction in Canada did little to bolster investor confidence early on, but a binge of late day buying propelled the big board into the black by the close of Wednesday trading on the Canadian Markets.

For the tale of the tape, the TSX Exchange gained 2.30%, while the TSX Gold Index added an impressive 19.1% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, dropped 1.99% with the declining issuers swamping the advancers by a 660 to 315 margin on good volume of 191 million shares traded.

The trading on the junior board was all about those companies that happen to have some liquidity for the sellers. Shares of VMS Ventures, which has been posting stellar results from its Reed Lake Discovery project in Manitoba, lost C$0.035 to close at C$0.295 with nearly 1 million shares traded, and B2Gold, the once highly touted Colombian gold explorer, lost C$0.05 at C$0.45 on over 1.9 million shares traded.

Shares of Eurasian Minerals (EMX) added C$0.13 to close at C$0.85 after the junior announced trench results of 19.15% copper and 140 grams silver per tonne over 14 metres at the Champagne prospect in Haiti.

Sherwood Copper (SWC) had a rough session on no new developments. The Yukon copper miner lost C$0.32 to close at C$2.05.

The big board gold miners were the winners of the day, as Barrick Gold (ABX) added C$6.53 to close at C$40.20, Goldcorp (G) surged C$5.53 to close at C$34.36, Agnico Eagle (AEM) tacked on C$6.95 to close at C$57.20, Kinross Gold (K) climbed C$3.05 at C$18.30 and Yamana Gold (YRI) added C$1.34 to close at C$8.40.

It is all about cash preservation for the junior explorers as they try to ride out this credit crunch. A massive amount of juniors have essentially gone no bid, making it impossible to sell in any size. We will see what Thursday trading has in store.

Source: Resource Stock Roundup Thursday, October 9, 2008

Roger Wiegand: Predicting a “Severe Bull Market” for Gold

The Gold Report — Tue, 07 Oct 2008 21:35:08 +0000

Seeing beyond the blind curves of bailouts and meltdowns takes the keen vision of a veteran market observer, Roger Wiegand, Editor of Trader Tracks. In this exclusive interview with The Gold Report, Wiegand predicts a “severe bull market” for gold that will include both juniors and seniors. He advises selective buying and names several of [...]

The Best of Times, the Worst of Times for Gold

Sean Brodrick — Wed, 10 Sep 2008 14:29:53 +0000

Gold is another one that’s hard to figure out. Supply is dropping in South Africa and Australia, yet overall mine supply rose 8% to 590 metric tonnes in the second quarter of this year. Demand is surging in India, but prices are plunging today (probably due to a combination of the ever-strengthening U.S. dollar and fund selling).

Where do we go from here? Here are some stories that may lend some insight …

GFMS bullish on gold but cites risk that investor demand could drop

The chief executive of precious metals research firm GFMS said on Monday that bullish macroeconomic factors should keep the price of gold at a high level over the next few years, but a potential decline in investor appetite could also pose a huge downside risk.

SPDR Gold Trust holdings dip more than 10 tons The SPDR Gold Trust GLD, the world’s largest gold-backed exchange traded fund, said it sold more than 10 tons of bullion on Tuesday, or 1.7% of its total holdings of the precious metal. SPDR now holds 631.2 tons of gold, down from 641.93 tons on Sept. 8. The trust has sold 68.7 tons of gold since its holdings hit a record 705.9 tons two months ago.

Gold Falls to 10-Month Low as Dollar Gain Curbs Hedge Demand; Silver Drops Gold fell, touching the lowest price since October, on speculation a drop in commodity prices and a stronger dollar will reduce demand for the precious metal as a hedge against inflation. Silver also declined.

Goldcorp Has Cash to Make Purchases Amid Mining-Share Collapse, CEO Says Goldcorp Inc., the world's second- largest gold miner by market value, said it has $1.2 billion in cash and no debt, putting it in a good position to make acquisitions amid a collapse in mining stocks.

Manipulation? Or simply deleveraging?

By Bob Moriarty

XX Sean’s note -- Bob Moriarty is one of the very bright fellows who was on my last silver tour in Mexico. His article is worth reading in its entirety.

My take: I expect gold to test $750, and maybe lower than that. We have hedges on, and I’m comfortable with that. But as Bob points out, gold is getting extremely oversold. The snapback could make your head spin, so be prepared to move fast.

Adrian Day: Long-Term Fundamentals Still Good For Gold

The Gold Report — Tue, 02 Sep 2008 23:56:04 +0000

Source: The Gold Report 09/02/2008 A pioneer in global investing, with a reputation for discovering big winners, Adrian Day gives us his insight on whether he thinks gold has hit the bottom, and what it’s going to take to get the juniors going again. He also tells us which juniors he thinks are positioned to weather the [...]

The Gold Watch: Yamana and Goldcorp

Stockmasters Staff — Wed, 20 Aug 2008 15:28:16 +0000

RBC Capital Markets out with some bullish ratings on Yamana Gold Inc. (NYSE:AUY) and Goldcorp (NYSE:GG). Gold is down this morning to just above $800, yet the analysts are getting on board

Kinross Gold Sees Big Overheads

Zacks Market Commentaries — Thu, 14 Aug 2008 15:00:08 +0000

In 2008 second quarter, Kinross Gold Corp.Â’s (KGC) net earnings of $0.09 per diluted share remained flat compared to $0.08 per diluted share in the same period last year. Revenue was up 3% year over year to $298.7 million. Gold production was 406,032 equivalent ounces versus 439,783 ounces last year. The year-over-year decrease in production was primarily due to the asset swap transaction with Goldcorp, as well as the impact of lower grades mined at Fort Knox, Round Mountain, and La Coipa.

Higher gold prices bode well for KinrossÂ’ topline growth. KGC has received approval for a huge investment in the Paracatu mine expansion, which is expected to start production in September. The various exploration and expansion activities undertaken will enhance production levels. The Bema acquisition will result in various synergies. Steady improvements in the leaching process and rising mill throughput are driving results at the Round Mountain facility. At the Maricunga mine, we believe enhanced capacity will boost production volume.

The companyÂ’s production is expected to go up to 1.8-1.9 million ounces of gold in 2008 and to 2.4-2.5 million gold equivalent ounces in 2009 driven by increased production from its two new projects Kupol and Buckhorn, apart from Paracatu.

However, declining production levels at some of the existing operations and higher mining, energy, and administrative overhead costs are likely to constrain margin expansion. Consequently, we reiterate our Hold recommendation on shares of KGC, with a six-month target price of $14.50.

Read the full analyst report on KGC

"KGC" Free Stock Analysis: Buy? Sell? Hold?
Zacks Investment Research