A huge cloud of volcanic ash from Iceland that paralyzed air traffic and grounded millions of passengers, sucked some of the air out of U.S. equity markets during the April 13-19 reporting period.
The Dow Jones industrial average advanced just 72.63 points or 0.66% to finish the period at 11,092.05, while the S&P 500 index remained virtually unchanged at 1,197.52, up just 0.22 of a point or 0.02%. The Nasdaq showed more signs of life, rising 14.12 points or 0.6% to 2,480.11.
The airline industry suffered heavy financial losses but mining stocks didn’t generate much enthusiasm either. Nine of the top 10 most actively traded stocks were all in negative territory (and the ninth, a penny stock, remained unchanged). Freeport-McMoRan Copper & Gold suffered the greatest loss, tumbling US$3.45 per share to US$80.80. Barrick Gold fell US$1.62 per share, while Goldcorp lost US$1.20 per share to close at US$28.84. The price of gold slipped US$15.90 per oz. during the April 13-19 reporting period to close in New York at US$1,135.20 per oz. The Philadelphia Gold & Silver index shrank 5.24 points or 3% to finish at 168.47.
The worst mining disaster in the U.S. or Canada in more than two decades that left 29 miners dead at Massey Energy’s Upper Big Branch underground coal mine in Montcoal, W. Va., continues to drive down the company’s share price. Massey Energy shares lost US$1.62 apiece to close at US$44.41.
On the positive side of the ledger, worries about palladium supply and rising prices for the precious metal propelled Stillwater Mining to US$16.45 per share, a gain of US$1.12. Palladium prices have recently reached well above US$500 per oz., a two-year high, and on April 13, Bloomberg quoted Neville Nicholau, the chief executive of Anglo Platinum, warning that “palladium may be in deficit for most of the next decade as Russia depletes inventories and uses for the metal increase.” Outside of Russia and South Africa, Stillwater Mining is the largest primary producer of platinum group metals, the company claims. North American Palladium’s stock also shot up, rising 14.3% or US65¢ per share to close at US$5.18.
U.S. most active issues | ||||
VOLUME | WEEK | |||
(000s) HIGH | LOW | CLOSE | CHANGE | |
Alcoa* AA | 255273 14.50 | 13.49 | 13.72 | -0.85 |
Freeport McMo*FCX | 54019 86.10 | 78.70 | 80.80 | -3.45 |
Hecla Mining* HL | 52258 5.92 | 5.44 | 5.56 | -0.39 |
Massey Energy* MEE | 50149 46.43 | 41.25 | 44.41 | -1.62 |
Barrick Gold* ABX | 46114 41.36 | 38.14 | 39.14 | -1.62 |
Arch Coal* ACI | 37856 26.97 | 25.23 | 26.07 | -0.05 |
Consol Energy* CNX | 37171 46.43 | 40.97 | 42.71 | -3.55 |
Potash C Sask* POT | 35269 113.57 | 104.25 | 106.75 | -7.36 |
Goldspring* GSPG | 34793 0.01 | 0.01 | 0.01 | 0.00 |
Goldcorp* GG | 32754 40.60 | 38.13 | 38.84 | -1.20 |
U.S. greatest percentage change | ||||||
VOLUME | WEEK | |||||
(000s) | HIGH | LOW | CLOSE | CHANGE | ||
World Vent* | WVNTF | 497 | 0.09 | 0.02 | 0.08 | +300.0 |
Habanero Res* | HBNRF | 59 | 0.10 | 0.08 | 0.10 | + 25.0 |
Linux Gold* | LNXGF | 109 | 0.06 | 0.05 | 0.05 | + 25.0 |
North Am Pall* | PAL | 19743 | 5.28 | 4.40 | 5.18 | + 14.3 |
Grandview Gld* | GVGDF | 160 | 0.09 | 0.07 | 0.08 | + 14.2 |
Shoshone Silv* | SHSH | 54 | 0.17 | 0.15 | 0.17 | + 13.3 |
Crystallex In* | KRY | 3404 | 0.45 | 0.33 | 0.44 | + 12.8 |
Oromin Expl* | OLEPF | 231 | 0.85 | 0.75 | 0.84 | + 12.0 |
Strata O&G* | SOIGF | 316 | 0.43 | 0.36 | 0.40 | + 11.1 |
Cream Mnrls* | CRMXF | 52 | 0.11 | 0.10 | 0.10 | + 11.1 |
Affinity Gold* | AFYG | 1666 | 0.21 | 0.11 | 0.13 | -38.1 |
America West* | AWSR | 140 | 0.12 | 0.09 | 0.09 | -25.0 |
Elray Res* | ELRA | 477 | 0.17 | 0.12 | 0.12 | -25.0 |
El Capitan Pr* | ECPN | 645 | 0.40 | 0.30 | 0.31 | -22.5 |
Metalline Mng* | MMG | 231 | 1.50 | 1.12 | 1.19 | -18.4 |
Madison Minls* | MMRSF | 28 | 0.13 | 0.10 | 0.11 | -15.3 |
SinoCoking Cl* | SCOK | 363 | 26.62 | 21.79 | 22.22 | -14.4 |
Augusta Res* | AZC | 204 | 2.87 | 2.43 | 2.47 | -14.2 |
Almaden Mnls* | AAU | 777 | 1.24 | 1.01 | 1.02 | -13.5 |
Silver Dragon* | SDRG | 418 | 0.36 | 0.28 | 0.31 | -11.4 |
U.S. greatest value change | ||||
WEEK | ||||
VOLUME | CLOSE | CHANGE | ||
Stillwater Mg* | SWC | 14649196 | 16.45 | + 1.12 |
OM Group* | OMG | 1221158 | 36.73 | + 0.68 |
North Am Pall* | PAL | 19742865 | 5.18 | + 0.65 |
Natural Rs Pt* | NRP | 411900 | 25.47 | + 0.55 |
Mountain Prov* | MDM | 118231 | 2.35 | + 0.23 |
Westmoreland* | WLB | 89967 | 12.83 | + 0.22 |
Paramount Gld* | PZG | 5544726 | 1.60 | + 0.14 |
Lihir Gold* | LIHR | 1331108 | 36.67 | + 0.14 |
PlatinumGpM* | PLG | 106900 | 2.40 | + 0.11 |
Oromin Expl* | OLEPF | 230644 | 0.84 | + 0.09 |
Rio Tinto* | RTP | 2942118 | 235.05 | -7.53 |
Potash C Sask* | POT | 35269275 | 106.75 | -7.36 |
Agrium* | AGU | 2872200 | 62.39 | -5.96 |
Cliffs Nat Rs* | CLF | 68.71 | -5.27 | |
SinoCoking Cl* | SCOK | 362702 | 22.22 | -3.74 |
Royal Gold* | RGLD | 3582005 | 47.71 | -3.62 |
Mosaic* | MOS | 30360126 | 53.19 | -3.56 |
Consol Energy* | CNX | 37171450 | 42.71 | -3.55 |
Teck B* | TCK | 20485751 | 41.75 | -3.50 |
Freeport McMo* | FCX | 54019406 | 80.80 | -3.45 |
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