U.S. MARKETS -November 15-19

Nov. 15-19 was not a great trading week for U.S. equities. The Dow Jones industrial average added just 10.97 points or 0.10% to finish at 11,203.55, while the S&P 500 gained 0.52 point or 0.04% to close at 1,199.73.

As a group, coal stocks stood out and it’s no surprise if you believe a new report from Standard Chartered that identifies coal as one of the best bets (along with copper) during the current super-cycle. The report argues that the global financial crisis delayed roughly 33 million tonnes of supply from new coal mines, which means there will be a global deficit of as much as 30 million tonnes by 2018. This shortage will push up coal prices, the report claims.

Alpha Natural Resources gained US$2.18 to close at US$50.80, while Massey Energy advanced US$1.89 to US$49.01. On Nov. 18, Massey announced construction had begun on its new Pineville processing plant, which is part of its Marianna property located in Wyoming County. Peabody Energy gained US$1.59 to end at US$59.24, Patriot Coal rose US$1.26 to US$15.98, Arch Coal advanced US$1.20 to US$30.30 and Natural Resources inched up 95¢ to close at US$31.63. International Coal Group jumped 14.5% to US$7.01 per share.

Cliffs Natural Resources enjoyed the largest gain, climbing US$2.54 to US$69.92 per share, on no news. The company declared a quarterly cash dividend of US14¢ per share on Nov. 9. Compass Minerals claimed the second-highest gain, jumping US$2.23 to US$81.80. On Nov. 11, the company announced plans to use less water than it had requested to expand its solar evaporation pond system at its Great Salt Lake operation in Utah. The cornerstone of the water reduction is the company’s patent-pending technology, which increases the efficiency of its solar evaporation ponds by 60%.

Gold stocks performed poorly. The price of gold dropped US$14.70 per oz. or 1.07% to close in New York at US$1,354.10, while the Philadelphia Gold and Silver index shed 3.73 points or 1.74% to 212.37. Randgold Resources lost US$1.84 to finish at US$96.67, Agnico-Eagle Mines ended down US$1.64 at US$78.18, and Royal Gold dropped US$1.22 to US$50.67.

U.S. most active issues
VOLUME WEEK
(000s) HIGH LOW CLOSE CHANGE
Alcoa* AA 113661 13.69 12.86 13.38 -0.11
Hecla Mining* HL 69179 8.63 7.71 8.58 + 0.17
Freeport McMo* FCX 65548 104.48 96.02 101.80 -2.12
Silver Wheatn* SLW 58964 34.82 30.52 34.70 + 0.91
Barrick Gold* ABX 42333 51.04 48.57 49.77 -0.96
Potash C Sask* POT 39457 140.58 132.65 140.25 + 0.34
NovaGold Res* NG 38412 15.00 13.10 14.60 -0.06
Newmont Mng* NEM 32910 61.98 58.76 60.34 -1.21
Massey Energy* MEE 31154 49.97 45.34 49.01 + 1.89
Mosaic* MOS 29790 70.15 64.56 70.05 + 0.35
U.S. greatest percentage change
VOLUME WEEK
(000s) HIGH LOW CLOSE CHANGE
Crosshair E&M* CXZ 1464 0.38 0.23 0.33 + 32.0
Linux Gold* LNXGF 1887 0.09 0.07 0.09 + 28.5
Am Engy Field* AEFI 120 0.80 0.45 0.66 + 20.0
Starfield Res* SRFDF 249 0.06 0.05 0.06 + 20.0
Uranium Ener* UEC 3181 6.12 4.80 6.04 + 17.2
Goldfield* GV 132 0.34 0.29 0.34 + 17.2
America West* AWSR 31 1.30 0.68 1.23 + 17.1
Intl Coal Gp* ICO 15523 7.04 5.86 7.01 + 14.5
Uranerz Energ* URZ 7309 3.24 2.62 3.20 + 12.2
Rubicon Mnls* RBY 5677 4.24 3.70 4.19 + 12.0
Amazon Goldsd* AZNG 39 0.40 0.22 0.22 -45.0
Elray Res* ELRA 1512 0.02 0.01 0.02 -33.3
Grandview Gld* GVGDF 10 0.07 0.07 0.07 -22.2
Silver Dragon* SDRG 1069 0.23 0.18 0.19 -17.3
Strata O&G* SOIGF 346 0.15 0.12 0.13 -13.3
Anooraq Res* ANO 1676 1.33 1.13 1.13 -13.0
China Shen Zh* SHZ 203 3.20 2.75 2.77 -12.8
Cream Mnrls* CRMXF 354 0.17 0.14 0.14 -12.5
Patriot Gold* PGOL 35 0.20 0.14 0.14 -12.5
Shoshone Silv* SHSH 236 0.26 0.20 0.22 -12.0

U.S. greatest value change
WEEK
VOLUME CLOSE CHANGE
Cliffs Nat Rs* CLF 17047468 69.92 + 2.54
Compass Mnls* CMP 336291 81.80 + 2.23
Alpha Nat Res* ANR 17949700 50.80 + 2.18
Massey Energy* MEE 31153644 49.01 + 1.89
Peabody Enrgy* BTU 24140632 59.24 + 1.59
OM Group* OMG 1264397 38.24 + 1.56
Patriot Coal* PCX 4698030 15.98 + 1.26
Arch Coal* ACI 25049733 30.30 + 1.20
ASA (Bermuda)* ASA 454307 33.88 + 0.96
Natural Rs Pt* NRP 270883 31.63 + 0.95
Freeport McMo* FCX 65547604 101.80 -2.12
Randgold Res* GOLD 3527251 96.67 -1.84
Yanzhou Coal* YZC 1906533 28.88 -1.68
Agnico-Eagle* AEM 11014885 78.18 -1.64
AngloGold Ash* AU 7875002 47.58 -1.52
Royal Gold* RGLD 2072968 50.67 -1.22
Newmont Mng* NEM 32909623 60.34 -1.21
Rare Elemt Re* REE 8931129 9.94 -1.16
Barrick Gold* ABX 42332521 49.77 -0.96
Allied Nevada* ANV 905119 26.53 -0.94
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