Zacks Industry Outlook Highlights: Newmont and Kinross Gold Corp. – Press Releases
Zacks Market Commentaries (July 29th, 2009) Writes:
Chicago, IL – July 29, 2009 – Zacks.com announces the latest Industry Outlook. Today’s outlook from Zacks Equity Research analyst Paul Raman discusses the Metals & Mining sector. Highlighted stocks include: Newmont (NEM) and Kinross Gold Corp. (KGC).
Here is the latest on the Metals & Mining sector:Prices have peaked due to the record commodities run-up and also by slowing economies. Prices are steady in recent months. The slowdown in the U.S./Europe/Japanese economies remains a negative issue facing producers. Shipments are off at a double-digit rate. Pension deficits are rising due to lower interest rates, a weak stock market and less funding. Gold prices are staying high, but we remain bearish on gold due to the following:
1) An increase in stock offerings - Both Newmont (NEM) and Kinross Gold Corp. (KGC) have announced sizable stock offerings in ...

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