Mining stocks helped boost the S&P-TSX Composite Index over the Oct. 28-Nov. 3 trading period. The TSX rose nearly 14% or 1,284 points to 9,721, giving investors some hope that we’ve reached the bottom — at least for now.
The Capped Metals and Mining Index jumped 23% to close at 357 points, while the Global Gold Index gained more than 19% to nearly 188 points and spot gold closed at US$720 per oz., staying relatively flat.
Potash Corp. of Saskatchewan benefited from the recovery and came out as the top gainer by value. Shares were up $20.80 to close at $102.60 per share. The fertilizer giant was hit with a price target from analysts including UBS Securities, which maintained its buy rating but dropped 12-month targets to $130 from $150.
Fertilizer sister Agrium was next in line, rising $11.17 to finish the period at $46.17 per share. Zacks Equity Research named Agrium as the Bull of the Day on Halloween, for its organic growth and growth through acquisition. The company was given a buy rating with a target of $90 per share.
Agnico-Eagle Mines shares were in the No. 3 spot, up $5.76 per share to $11.17. Agnico earned US$14 million in the third quarter, up 21.7% thanks to foreign currency translation gains and higher gold prices and production. The company produced nearly 69,000 oz. gold, up 23% over the same period last year, and received an average price of US$903 per oz. compared with US$748 per oz. during the same period last year. At the same time, cash costs were US$240 per oz., a big change from the negative US$307 per oz. a year earlier, due mostly to plunging zinc prices.
Finally on the losing end was Horizons Global Gold Bear Plus exchange-traded fund, which is designed to do well when the markets are plunging. The fund fell $6.93 to $11.32, and was at a 52-week low of $7.22 in mid-July, reaching a new high of $21.01 on Oct. 24.
Yamana Gold shares rose $1.01 to $5.75 on a trading volume of nearly 40 million shares, making it the most actively traded stock of the week. Uranium One followed with 35.2 million shares traded, gaining 38 to $1.02, while Teck gained $1.24, putting shares at $12 apiece. Bad weather forced Teck to declare force majeure on shipments of lead and zinc concentrate from its Red Dog open-pit mine in Alaska. The shorter-than-usual shipping season means the company won’t be able to ship about 20,000 tonnes of zinc in concentrate and 1,100 tonnes of lead in concentrate.
Peregrine Diamonds shares did well on a percentage basis, rising 86.3% to 41. The company reported finding diamonds at its Chidliak property on Baffin Island in the CH-2 and CH-3 kimberlites and new results from the CH-1 kimberlite, which show a coarse diamond size distribution.
TSX most active issues | ||||||
VOLUME | WEEK | |||||
(000s) | HIGH | LOW | CLOSE | CHANGE | ||
Yamana Gold | YRI | 39996 | 6.27 | 4.75 | 5.75 | + 1.01 |
Uranium One | UUU | 35228 | 1.15 | 0.60 | 1.02 | + 0.38 |
Teck B | TCKB | 34454 | 13.50 | 10.76 | 12.00 | + 1.24 |
HoriznsGBull | HGU | 33498 | 6.87 | 4.31 | 5.95 | +1.57 |
KinrossGold | K | 29208 | 13.77 | 9.90 | 12.55 | +2.54 |
Eastern Platin | ELR | 28944 | 0.44 | 0.34 | 0.36 | -0.03 |
Barrick Gold | ABX | 27292 | 29.88 | 23.16 | 27.56 | + 5.05 |
Goldcorp | G | 23205 | 25.15 | 18.76 | 22.54 | + 3.79 |
Frontera Coppr | FCC | 18643 | 0.50 | 0.22 | 0.37 | + 0.12 |
Lundin Mng | LUN | 18561 | 1.99 | 1.25 | 1.80 | + 0.48 |
TSX greatest percentage change | ||||||
VOLUME | WEEK | |||||
(000s) | HIGH | LOW | CLOSE | CHANGE | ||
St Andrew Gldf | SAS | 7517 | 0.20 | 0.08 | 0.20 | +150.0 |
Revett Mnls | RVM | 4123 | 0.25 | 0.10 | 0.23 | +109.0 |
Great Panther | GPR | 1517 | 0.42 | 0.18 | 0.41 | + 95.2 |
Carpathian Gld | CPN | 1723 | 0.25 | 0.09 | 0.19 | + 90.0 |
Asbestos Corp | AB | 26 | 0.20 | 0.10 | 0.19 | + 90.0 |
Lydian Intl | LYD | 58 | 0.28 | 0.12 | 0.28 | + 86.6 |
Peregrine Diam | PGD | 599 | 0.45 | 0.24 | 0.41 | + 86.3 |
Avalon Vent | AVL | 128 | 0.90 | 0.41 | 0.80 | + 81.8 |
Ur-Energy | URE | 3382 | 0.65 | 0.38 | 0.64 | + 77.7 |
Teal Expl & Mg | TL | 82 | 0.40 | 0.24 | 0.28 | + 75.0 |
Avnel Gold | AVK | 2589 | 0.10 | 0.03 | 0.03 | -78.5 |
Colombia Goldf | GOL | 185 | 0.12 | 0.04 | 0.04 | -60.0 |
Arehada Mining | AHD | 643 | 0.05 | 0.03 | 0.04 | -42.8 |
Horizns G Bear | HGD | 4307 | 17.90 | 10.04 | 11.32 | -37.9 |
GLR Res | GRS | 1472 | 0.04 | 0.01 | 0.02 | -33.3 |
Pure Diam Expl | PUG | 355 | 0.04 | 0.03 | 0.03 | -25.0 |
Foraco Intl | FAR | 23 | 1.21 | 0.86 | 0.91 | -24.7 |
Atlanta Gold | ATG | 43 | 0.30 | 0.17 | 0.24 | -22.5 |
Coalcorp Mng | CCJ | 551 | 1.01 | 0.60 | 0.72 | -20.8 |
Delta Uran | DUR | 132 | 0.10 | 0.08 | 0.08 | -20.0 |
TSX greatest value change | ||||
WEEK | ||||
VOLUME | CLOSE | CHANGE | ||
Potash Cp Sask | POT | 12320204 | 102.60 | + 20.80 |
Agrium | AGU | 10553022 | 46.17 | + 11.17 |
Agnico-Eagle | AEM | 7536416 | 33.26 | + 5.76 |
First Quantum | FM | 3628300 | 25. 40 |
+ 5.40 |
Barrick Gold | ABX | 27291918 | 27.56 | + 5.05 |
Royal Gold | RGL | 16609 | 34.84 | + 4.97 |
Franco-Nevada | FNV | 1738886 | 17.27 | + 4.37 |
Goldcorp | G | 23204702 | 22.54 | + 3.79 |
Newmont Mng | NMC | 82088 | 31.61 | + 3.47 |
Cameco Corp | CCO | 6818674 | 19.73 | + 3.32 |
IShCOMEXGTr | IGT | 173007 | 85.68 | -7.30 |
Horizns G Bear | HGD | 4306948 | 11.32 | -6.93 |
Central Gold-T | GTU_U | 23058 | 38.26 | -1.34 |
Imperial Metal | III | 272583 | 2.29 | -0.47 |
Solitario Res | SLR | 40245 | 2.40 | -0.40 |
Gammon Gold | GAM | 4891957 | 4.04 | -0.34 |
Foraco Intl | FAR | 22802 | 0.91 | -0.30 |
Central Fund | CEFA | 590683 | 10.65 | -0.28 |
Centerra Gold | CG | 2243300 | 1.05 | -0.25 |
Cardero Res | CDU | 924589 | 1.62 | -0.24 |
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