The Dow Jones industrial average inched up 28.23 points to close the week at 11,410.32, while the S&P 500 rose 15.6 points to 1,240.40. The Nasdaq advanced 46.08 points to finish at 2,637.54. The Philadelphia Gold and Silver index dropped 1.82 points to 223.45, and the New York spot price for gold closed at US$1,385.80 per oz. Twenty-seven companies on the New York Stock Exchange reached new 52-week highs.
Freeport-McMoRan Copper & Gold was one of them, advancing US$3.92 to close at US$112.87, the week’s second-largest value gain. It was also the fourth most-actively traded stock with 56.2 million shares trading hands. On Dec. 9, Freeport announced a supplemental stock dividend of US$1 per share, an addition to the company’s regular quarterly stock dividend. Freeport said the supplemental dividend reflected the company’s strong cash position and “significant” cash flow. Freeport’s board also declared a two-for-one split of the company’s shares, a decision it says that illustrates “the strong share price performance of our shares and positive outlook for our business.”
Compass Minerals also reached a new 52-week high, rising US$2.79 to US$89.66 per share. On Dec. 7, the Kansas-based company announced that Standard & Poor’s is adding it to its S&P MidCap 400 index. The company’s market capitalization has grown from US$485 million at the time of its initial public offering in December 2003 to nearly US$3 billion today. Companies in the index must have a market capitalization in the range of US$850 million to US$3.8 billion, as well as at least four consecutive quarters of positive earnings. Compass Minerals also announced on Dec. 9 that it will raise the price of all sulphate of potash specialty fertilizer products by US$25 per ton on orders placed after Dec. 13.
Minefinders was up US$1.06 to US$11.34. On Dec. 13, the company announced a $151.5-million bought-deal financing of 13.65 million shares at $11.10 apiece. Proceeds will be used for future expansion and mill construction at Minefinders’ open-pit Dolores gold mine, about 250 km west of Chihuahua, and continued development at its La Bolsa gold-silver development project in Sonora, Mexico.
U.S. most active issues | ||||
VOLUME | WEEK | |||
(000s) HIGH | LOW | CLOSE | CHANGE | |
Alcoa* AA | 104412 14.50 | 14.02 | 14.25 | 0.00 |
Hecla Mining* HL | 92593 11.40 | 9.90 | 10.68 | + 0.18 |
Silver Wheatn* SLW | 65976 42.34 | 37.04 | 38.51 | -0.80 |
Freeport McMo* FCX | 56147 114.24 | 106.70 | 112.87 | + 3.92 |
Stillwater Mg* SWC | 52936 22.86 | 18.98 | 20.07 | -1.73 |
Goldcorp* GG | 47885 48.34 | 45.21 | 46.07 | -0.97 |
Barrick Gold* ABX | 42505 55.72 | 52.66 | 53.30 | -0.70 |
Kinross Gold* KGC | 37665 19.59 | 18.12 | 18.44 | -0.31 |
NovaGold Res* NG | 34717 16.90 | 14.68 | 15.10 | + 0.18 |
Newmont Mng* NEM | 34607 64.05 | 59.71 | 61.42 | -0.79 |
U.S. greatest percentage change | ||||||
VOLUME | WEEK | |||||
(000s) | HIGH | LOW | CLOSE | CHANGE | ||
Yellowcake Mg* | YCKM | 2012 | 0.34 | 0.03 | 0.24 | + 700.0 |
Cream Mnrls* | CRMXF | 451 | 0.22 | 0.15 | 0.22 | + 46.6 |
Infrastrc Mat* | IFAM | 331 | 0.30 | 0.17 | 0.26 | + 44.4 |
Paramount Gld* | PZG | 11364 | 2.62 | 1.69 | 2.59 | + 43.8 |
DouglasLkMl* | DLKM | 1041 | 0.43 | 0.28 | 0.42 | + 35.4 |
Northern Dyn* | NAK | 5280 | 13.56 | 9.75 | 13.41 | + 33.7 |
Am Engy Field* | AEFI | 225 | 0.82 | 0.67 | 0.78 | + 30.0 |
Tara Gold* | TRGD | 307 | 0.39 | 0.30 | 0.39 | + 25.8 |
America West* | AWSR | 152 | 1.80 | 1.23 | 1.72 | + 24.6 |
China Shen Zh* | SHZ | 872 | 4.12 | 3.15 | 3.78 | + 22.7 |
Affinity Gold* | AFYG | 95 | 0.05 | 0.04 | 0.05 | -28.5 |
Constittn Mng* | CMIN | 4035 | 0.22 | 0.12 | 0.16 | -27.2 |
Caledonia Mng* | CALVF | 4691 | 0.17 | 0.11 | 0.11 | -26.6 |
Madison Minls* | MMRSF | 55 | 0.17 | 0.12 | 0.12 | -25.0 |
Tombstone Exp* | TMBXF | 602 | 0.14 | 0.10 | 0.11 | -21.4 |
Puda Coal* | PUDA | 1840 | 16.20 | 11.66 | 12.25 | -20.5 |
Argentex Mng* | AGXM | 590 | 0.87 | 0.71 | 0.75 | -13.7 |
Global Gold* | GBGD | 308 | 0.24 | 0.20 | 0.20 | -13.0 |
Vista Gold* | VGZ | 2954 | 3.17 | 2.67 | 2.70 | -11.4 |
Uranium Ener* | UEC | 2326 | 6.64 | 5.71 | 5.94 | -11.3 |
U.S. greatest value change | ||||
WEEK | ||||
VOLUME | CLOSE | CHANGE | ||
Mesabi Trust* | MSB | 2577587 | 54.60 | + 4.78 |
Freeport McMo* | FCX | 56146960 | 112.87 | + 3.92 |
Northern Dyn* | NAK | 5280471 | 13.41 | + 3.38 |
Compass Mnls* | CMP | 2840730 | 89.66 | + 2.79 |
Teck B* | TCK | 19926725 | 57.32 | + 2.59 |
BHP Billi-BBL* | BBL | 7267348 | 78.27 | + 1.66 |
Massey Energy* | MEE | 22482015 | 51.98 | + 1.56 |
BHP Billi-BHP* | BHP | 14387169 | 89.80 | + 1.13 |
Minefinders* | MFN | 4747743 | 11.34 | + 1.06 |
Royal Gold* | RGLD | 2245082 | 53.70 | + 1.00 |
Potash C Sask* | POT | 11621476 | 139.87 | -4.29 |
Randgold Res* | GOLD | 4554624 | 89.57 | -4.02 |
Buenaventura* | BVN | 4852528 | 49.98 | -3.19 |
PUDA | 1839742 | 12.25 | -3.16 | |
Ivanhoe Mines* | IVN | 29586369 | 23.94 | -3.03 |
Agrium* | AGU | 1703024 | 81.87 | -2.44 |
Agnico-Eagle* | AEM | 10163544 | 82.93 | -2.10 |
Allied Nevada* | ANV | 731694 | 26.52 | -1.98 |
ASA (Bermuda)* | ASA | 323864 | 33.67 | -1.89 |
Stillwater Mg* | SWC | 52935620 | 20.07 | -1.73 |
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