U.S. Markets -Jan. 19-25

The Jan. 19-25 trading period was one many investors in U.S.-listed equities probably would like to forget. The Dow Jones industrial average sank 528.57 points or 4.93% to finish at 10,196.86, while the S&P 500 index lost 53.45 points or 4.65% to close at 1,096.78.

Gold prices dropped US$40.50 per oz. from their New York close of US$1,137.60 per oz. on Jan. 19 to US$1097.10 per oz. on Jan. 25. The Amex Gold Bugs index slid 44.82 points or 10.12% to finish at 398.04, while the Philadelphia Gold and Silver index lost 16.66 points or 9.58% to close at 157.24. The gold majors seem to have fared the worst. Freeport Mc-MoRan Copper & Gold sank US$9.70 per share to close at US$74.60, despite posting strong financial results for 2009. On Jan. 21, the company reported net income of US$2.5 billion, or US$5.86 per share last year, compared with a net loss of US$11.3 billion or US$29.72 per share in 2008.

By contrast, several penny gold stocks posted decent gains. Amazon GoldSands, an exploration company with properties in the Manseriche and Condercanqui gold camps along the Rio Maranon in northeastern Peru, jumped 25% to 20¢ per share on no news. Patriot Gold, focused on exploration in Nevada, rose 16.6% to 21¢, also on no news, while Radius Gold gained 16.2% to 43¢ per share after releasing details of its ambitious 2010 exploration program. On Jan. 19, the junior’s president, Simon Ridgway, asserted that the company has “two potential production scenarios” developing from gold discoveries in Guatemala (Tambor) and Nicaragua (Pavon). Radius will also begin definition drilling at its Nueva California project in Peru.

Rio Tinto tumbled US$23.73 per share to US$209.90 despite posting a positive operations review for the fourth quarter and all of 2009. On Jan. 14, the mining giant said continuing high demand from China had resulted in a strong quarter for iron ore production, which was up 49% over the year-earlier quarter. Mined copper production was up 36% year-on-year, while Australian thermal coal production was up 5% year-on-year. On the negative side of the ledger, Australian hard coking coal production was down 2% over the year-earlier quarter, while uranium production sank 20% due to lower grades.

U.S. most active issues
VOLUME WEEK
(000s) HIGH LOW CLOSE CHANGE
Alcoa* AA 267951 15.82 13.31 13.39 -2.24
Freeport McMo*FCX 109106 84.79 72.55 74.60 -9.70
Hecla Mining* HL 77999 6.35 5.12 5.16 -1.00
Barrick Gold* ABX 75301 39.72 36.04 36.04 -3.66
Goldcorp* GG 59157 40.36 36.21 36.21 -3.44
Newmont Mng* NEM 54587 48.49 43.86 44.13 -3.48
Silver Wheatn* SLW 51189 17.17 14.35 14.73 -2.42
Gold Fields* GFI 37613 13.39 11.91 12.39 -0.87
Kinross Gold* KGC 35165 19.32 17.29 17.39 -1.92
Potash C Sask* POT 32523 116.70 108.59 109.90 -5.39
U.S. greatest percentage change
VOLUME WEEK
(000s) HIGH LOW CLOSE CHANGE
Amazon Goldsd* AZNG 26 0.23 0.20 0.20 + 25.0
NWT Uranium* NWURF 318 0.17 0.11 0.15 + 25.0
El Capitan Pr* ECPN 1506 0.18 0.14 0.17 + 21.4
Tanz Roy Exp* TRE 3829 4.86 3.84 4.71 + 17.1
Patriot Gold* PGOL 127 0.23 0.17 0.21 + 16.6
Radius Gold* RDUFF 441 0.43 0.36 0.43 + 16.2
Elray Res* ELRA 158 0.17 0.15 0.17 + 13.3
Habanero Res* HBNRF 186 0.10 0.09 0.09 + 12.5
Argentex Mng* AGXM 1062 0.89 0.83 0.86 + 10.2
Lake Vict Mng* LVCA 110 0.60 0.42 0.54 + 10.2
Affinity Gold* AFYG 22 3.30 1.50 1.55 -48.3
Madison Minls* MMRSF 110 0.15 0.11 0.11 -31.2
Cornerstone C* CTNXF 109 0.17 0.13 0.13 -27.7
Yellowcake Mg* YCKM 10 0.03 0.03 0.03 -25.0
Legend Intl H* LGDI 1929 1.50 1.11 1.13 -22.0
Silver Std Re* SSRI 9734 23.44 18.54 18.87 -18.5
Starfield Res* SRFDF 346 0.11 0.09 0.09 -18.1
Pac Rim Minin* PMU 516 0.23 0.18 0.18 -18.1
Allied Nevada* ANV 546 15.46 12.37 12.79 -17.2
Crystallex In* KRY 2606 0.35 0.27 0.29 -17.1
U.S. greatest value change
WEEK
VOLUME CLOSE CHANGE
OM Group* OMG 2371860 36.11 + 3.12
Seabridge Gld* SA 2734243 27.38 + 1.38
Mesabi Trust* MSB 763508 15.60 + 1.25
Tanz Roy Exp* TRE 3829161 4.71 + 0.69
Argentex Mng* AGXM 1062348 0.86 + 0.08
Radius Gold* RDUFF 441401 0.43 + 0.06
Lake Vict Mng* LVCA 110400 0.54 + 0.05
Amazon Goldsd* AZNG 26150 0.20 + 0.04
Patriot Gold* PGOL 127126 0.21 + 0.03
NWT Uranium* NWURF 317920 0.15 + 0.03
Rio Tinto* RTP 5182257 209.90 -23.73
Freeport McMo* FCX 109106385 74.60 -9.70
Randgold Res* GOLD 5775694 73.87 -7.54
Cliffs Nat Rs* CLF 28385304 42.89 -6.86
Massey Energy* MEE 26471250 41.88 -5.80
ASA (Bermuda)* ASA 205515 72.76 -5.54
Potash C Sask* POT 32523312 109.90 -5.39
BHP Billi-BHP* BHP 24047384 73.93 -5.32
Agnico-Eagle* AEM 16301089 53.04 -4.40
BHP Billi-BBL* BBL 7031138 62.16 -4.38
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