It was a ho-hum week for U.S. equities. The Dow Jones industrial average fell 14.07 points or 0.13% to close at 11,118.49, while the S&P 500 index fell 0.18 point or 0.02% to 1,183.26. The Nasdaq was up 28.02 points, or 1.13%, to end at 2,507.41.
The Philadelphia Gold and Silver index rose 7.48 points or 3.8% to 204.30 during the Oct. 25-29 trading week, as the price of gold advanced US$32.10 per oz. to close in New York on Oct. 29 at US$1,359.80 per oz. Several gold companies posted record third-quarter financial results on the back of significantly higher gold prices.
Agnico-Eagle Mines topped the biggest value gain list, climbing US$7.28 to US$77.59 apiece after announcing record net income in the third quarter of US$121.5 million, or US73¢ per share. Agnico-Eagle suffered a US$17-million loss (US11¢ a share) in the same quarter last year. The turnaround was driven in part by a 140% year-on-year increase in production to 285,178 oz. gold and a 233% increase in gross mine profit.
Goldcorp added US$2.55 apiece to close at US$44.59 following news that third-quarter revenues jumped 28% year-on-year to US$885.8 million on gold sales of 568,100 oz. Operating cash flow before working capital changes came in at a record US$470.6 million.
Barrick Gold was up US$2.12 to US$48.09 per share after reporting that its net income hit a record US$837 million (US85¢ per share) in the third quarter, while operating cash flow reached an all-time high of US$1.28 billion, 40% higher than the US$911 million in the year-earlier period.
Thirteen companies listed on the New York Stock Exchange reached new 52-week highs during the period, including two potash companies. Mosaic, which operates three mines in Saskatchewan and two in the United States, gained US$7.20 per share to US$73.16 on no news. Intrepid Potash, which has two production facilities in Utah and three in New Mexico, rose US$4.95 to US$34.33, also on no news. Potash Corp. of Saskatchewan added US$3.30 to close at US$145.09 apiece.
Rare Element Resources was the third most actively traded stock with its shares closing $1.25 higher at US$11.36.
| U.S. most active issues | ||||
| VOLUME | WEEK | |||
| (000s) HIGH | LOW | CLOSE | CHANGE | |
| Alcoa* AA | 121421 13.23 | 12.51 | 13.14 | + 0.42 |
| Freeport McMo* FCX | 50599 98.42 | 94.00 | 94.79 | + 0.75 |
| Rare Elemt Re* REE | 43428 14.00 | 10.31 | 11.36 | + 1.25 |
| Potash C Sask* POT | 42804 148.44 | 142.05 | 145.09 | + 3.30 |
| Barrick Gold* ABX | 42023 48.31 | 44.98 | 48.09 | + 2.12 |
| Hecla Mining* HL | 39666 6.95 | 6.60 | 6.89 | + 0.19 |
| Silverado* SLGLF | 35449 0.01 | 1.0E8 | 0.01 | 0.00 |
| Goldcorp* GG | 31800 44.99 | 41.24 | 44.59 | + 2.55 |
| Newmont Mng* NEM | 31689 61.13 | 57.52 | 60.86 | + 1.49 |
| Silver Wheatn* SLW | 31398 28.89 | 26.07 | 28.75 | + 2.53 |
| U.S. greatest percentage change | ||||||
| VOLUME | WEEK | |||||
| (000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Global Gold* | GBGD | 2664 | 0.29 | 0.15 | 0.23 | + 53.3 |
| Golden Phoen* | GPXM | 6177 | 0.15 | 0.09 | 0.13 | + 44.4 |
| Petaquilla Mn* | PTQMF | 2318 | 0.83 | 0.60 | 0.83 | + 36.0 |
| Tombstone Exp* | TMBXF | 1080 | 0.09 | 0.06 | 0.08 | + 33.3 |
| General Moly* | GMO | 8063 | 5.24 | 4.05 | 5.22 | + 27.6 |
| Canarc Res* | CRCUF | 345 | 0.14 | 0.12 | 0.14 | + 27.2 |
| PolyMet Mng* | PLM | 2381 | 1.86 | 1.54 | 1.85 | + 22.5 |
| Samex Mng* | SMXMF | 444 | 0.51 | 0.41 | 0.49 | + 19.5 |
| NovaGold Res* | NG | 22131 | 11.29 | 9.52 | 11.22 | + 17.2 |
| Intrepid Pots* | IPI | 1813 | 35.14 | 29.74 | 34.33 | + 16.8 |
| Yellowcake Mg* | YCKM | 114 | 0.07 | 0.03 | 0.04 | -50.0 |
| Fischer-W Gld* | FWGO | 200 | 0.05 | 0.03 | 0.04 | -33.3 |
| China Shen Zh* | SHZ | 1099 | 3.83 | 2.25 | 2.25 | -29.6 |
| Starfield Res* | SRFDF | 367 | 0.07 | 0.05 | 0.05 | -28.5 |
| Silver Dragon* | SDRG | 2857 | 0.26 | 0.17 | 0.22 | -18.5 |
| Patriot Gold* | PGOL | 200 | 0.16 | 0.10 | 0.13 | -13.3 |
| Affinity Gold* | AFYG | 114 | 0.08 | 0.07 | 0.08 | -11.1 |
| Am Engy Field* | AEFI | 41 | 0.69 | 0.54 | 0.60 | -10.4 |
| Shoshone Silv* | SHSH | 322 | 0.23 | 0.18 | 0.20 | -9.0 |
| Geovic Mng* | GVCM | 258 | 0.93 | 0.82 | 0.82 | -7.8 |
| U.S. greatest value change | ||||
| WEEK | ||||
| VOLUME | CLOSE | CHANGE | ||
| Agnico-Eagle* | AEM | 13379442 | 77.59 | + 7.28 |
| Mosaic* | MOS | 24555739 | 73.16 | + 7.20 |
| Intrepid Pots* | IPI | 1813481 | 34.33 | + 4.95 |
| Potash C Sask* | POT | 42804228 | 145.09 | + 3.30 |
| Goldcorp* | GG | 31799637 | 44.59 | + 2.55 |
| Buenaventura* | BVN | 4637643 | 52.89 | + 2.54 |
| Silver Wheatn* | SLW | 31397985 | 28.75 | + 2.53 |
| Massey Energy* | MEE | 30454308 | 42.07 | + 2.24 |
| Barrick Gold* | ABX | 42022736 | 48.09 | + 2.12 |
| BHP Billi-BBL* | BBL | 7565687 | 70.80 | + 1.95 |
| Consol Energy* | CNX | 16731345 | 36.76 | -2.27 |
| Alliance Rs P* | ARLP | 737920 | 58.84 | -1.61 |
| AlumCpChina* | ACH | 917975 | 23.97 | -1.33 |
| MDU R es* |
MDU | 4371815 | 19.93 | -0.98 |
| China Shen Zh* | SHZ | 1098751 | 2.25 | -0.95 |
| Randgold Res* | GOLD | 4086260 | 93.92 | -0.52 |
| Cabot Corp* | CBT | 1788929 | 34.02 | -0.38 |
| North Am En P* | NOA | 184752 | 8.68 | -0.36 |
| Arch Coal* | ACI | 24823989 | 24.59 | -0.32 |
| Intl Coal Gp* | ICO | 12288876 | 5.62 | -0.29 |
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