Resource-based stocks listed on U.S. markets enjoyed a modest recovery over the report period Sept. 12-18 following a recent sell-off driven in part by the perception that commodity and energy prices were overdue for a correction. The rebound helped push the Standard & Poor’s 500 Index up 21.64 points over the session to close at 1,321.18.
Diversified commodity producer Rio Tinto led the list of value gainers, up US$3.30 to close at US$187.56 over the session. Brazilian-based resource conglomerate CVRD was ahead a modest US48 to close at US$20.97.
Energy companies also recouped losses over the previous week, with Peabody Energy up US$2.13 to US$38.11. Arch Coal managed to eke out a gain of US18 to close at US$28.51. With coal prices coming under downward pressure, other producers lost ground, including China-based Yangzhou Coal, which shed US$1.05 to US$33.05.
Copper producers enjoyed a market rebound after last week’s commodity sell-off. Phelps Dodge was up US$2.16 to close at US$86.21, while Southern Peru Copper jumped US$3.27 to US$91.39.
Freeport-McMoRan Copper & Gold has exposure to both gold and copper production at its core asset, the vast Grasberg mine in Indonesia. Shares in the company closed at US$53.44, up US24 from a week ago.
Gold producers had a rougher ride, with Newmont Mining shedding US86 to US$44.82, and Agnico-Eagle Mines down US$1.71 at US$31.56.
Lihir Gold managed to buck the trend and climbed US$1.37 to US$43.10 over the session. The company’s core asset is an open-pit gold mine and pressure oxidation and carbon-in-leach processing facility in Papua New Guinea. The operation is capable of producing an estimated 600,000 oz. gold annually.
Glamis Gold and would-be merger partner Goldcorp were also caught in the downdraft. Glamis fell US$1.43 to US$39.81, while Goldcorp slipped US93 to US$23.74.
Mid-tier and junior companies dominated the list of largest percentage gainers and losers, led once again by Brookmount Exploration, which posted a 48% gain to US20. The junior’s key asset is the Mercedes 100 project in central Peru.
U.S. greatest percentage change
| VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Brookmount Ex* | BMXI | 434 | 0.21 | 0.14 | 0.20 | +48.1 |
| Sao Luis Mng* | SAOL | 905 | 1.14 | 0.77 | 1.05 | +32.9 |
| McKenzie Bay* | MKBY | 2516 | 0.27 | 0.095 | 0.125 | +25.0 |
| Clifton Mng* | CFTN | 578 | 0.75 | 0.55 | 0.72 | +24.1 |
| Cambior Inc* | CBJ | 2483 | 3.88 | 3.17 | 3.76 | +16.0 |
| Madison Minls* | MMRSF | 655 | 1.10 | 0.82 | 1.02 | +15.9 |
| Crystallex In* | KRY | 2277 | 3.24 | 2.82 | 3.22 | +15.8 |
| Tara Gold* | TRGD | 2580 | 0.34 | 0.24 | 0.31 | +10.7 |
| Diamond Discv* | DMDD | 1441 | 0.019 | 0.01 | 0.011 | +10.0 |
| Cleveland-Cli* | CLF | 3593 | 39.16 | 34.85 | 38.13 | +9.3 |
| Michigan Gold* | MGGV | 4162 | 0.03 | 0.013 | 0.014 | -44.0 |
| Konigsberg* | KGBC | 2090 | 0.82 | 0.42 | 0.45 | -40.7 |
| World Vent* | WVNTF | 140 | 0.15 | 0.10 | 0.10 | -33.3 |
| Intl Coal Gp* | ICO | 14253 | 5.75 | 4.15 | 4.16 | -26.3 |
| El Capitan Pr* | ECPN | 1873 | 1.28 | 0.87 | 0.96 | -22.5 |
| Shoshone Silv* | SHSH | 178 | 0.30 | 0.16 | 0.21 | -22.2 |
| NT Holding* | NTHH | 53 | 2.00 | 1.37 | 1.48 | -22.1 |
| Cream Mnrls* | CRMXF | 84 | 0.455 | 0.443 | 0.443 | -20.8 |
| Equitable Mng* | EQBM | 7512 | 0.01 | 0.006 | 0.009 | -18.1 |
| Cardero Res* | CDY | 303 | 1.66 | 1.31 | 1.39 | -16.2 |
U.S. greatest value change
| VOLUME | CLOSE | CHANGE | ||
| Rio Tinto* | RTP | 1883500 | 187.56 | +3.30 |
| Southern Peru* | PCU | 4345300 | 91.39 | +3.27 |
| Cleveland-Cli* | CLF | 3592900 | 38.13 | +3.27 |
| Cabot Corp* | CBT | 1147500 | 35.37 | +2.27 |
| Phelps Dodge* | PD | 15609900 | 86.21 | +2.16 |
| Peabody Enrgy* | BTU | 30048400 | 38.11 | +2.13 |
| Soc Quim&M Ch* | SQM | 53300 | 111.00 | +2.06 |
| Lihir Gold* | LIHRY | 192812 | 43.10 | +1.37 |
| Alcoa* | AA | 19442200 | 28.48 | +1.32 |
| Mesabi Trust* | MSB | 138400 | 19.65 | +1.32 |
| Westmoreland* | WLB | 129800 | 19.09 | -1.96 |
| Agnico-Eagle* | AEM | 8260600 | 31.56 | -1.71 |
| Intl Coal Gp* | ICO | 14252900 | 4.16 | -1.49 |
| Glamis Gold* | GLG | 8673000 | 39.81 | -1.43 |
| NovaGold Res* | NG | 2743200 | 15.59 | -1.31 |
| CONSOL Energy* | CNX | 14355700 | 30.68 | -1.13 |
| Yanzhou Coal* | YZC | 101300 | 33.05 | -1.05 |
| Goldcorp* | GG | 24648100 | 23.74 | -0.96 |
| Teck Comin B* | TCK | 335100 | 61.19 | -0.93 |
| Newmont Mng* | NEM | 29659700 | 44.82 | -0.86 |
U.S. most active issues
| VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | ||
| AuGrid* | AUGC | 1212786 | 0.00 | 1.0E8 | 0.00 | 0.00 |
| Peabody Enrgy* | BTU | 30048 | 39.01 | 35.00 | 38.11 | +2.13 |
| Newmont Mng* | NEM | 29660 | 46.32 | 43.59 | 44.82 | -0.86 |
| Goldcorp* | GG | 24648 | 24.94 | 22.46 | 23.74 | -0.96 |
| CVRD* | RIO | 23093 | 21.39 | 20.02 | 20.97 | +0.48 |
| Barrick Gold* | ABX | 19792 | 30.17 | 27.92 | 30.00 | +0.42 |
| Alcoa* | AA | 19442 | 28.83 | 27.15 | 28.48 | +1.32 |
| Arch Coal* | ACI | 16356 | 30.17 | 27.12 | 28.51 | +0.18 |
| Freeport McMo* | FCX | 15764 | 55.07 | 51.20 | 53.44 | +0.24 |
| Phelps Dodge* | PD | 15610 | 87.74 | 83.16 | 86.21 | +2.16 |
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