Weakness in the housing market took its toll on resource-based stocks over the report period Sept. 19-25, with the 10 most-active stocks all losing ground. The Standard & Poor’s 500 Index managed to eke out a gain of 5.19 points to close at 1,326.37 over the session.
Brazilian mega-miner Companhia Vale do Rio Doce (CVRD) topped the most-active list, not including two penny stocks that shed a fraction of a penny over the same period. CVRD is poised to acquire Canadian nickel miner Inco, thus ending a convoluted takeover battle involving several other contenders that had played out for months on end. CVRD shed US$1.21 to close at US$19.76.
Energy stocks also lost ground, with Peabody Energy down US$2.91 to US$35.20 and Massey Energy off US$2.27 at US$19.81. The coal sector also came under downward pressure, with Arch Coal closing at US$27.45, down US$1.06.
Diversified commodity producer Rio Tinto closed down US$6.24 at US$181.32, reflecting reduced investor interest in the commodities and industrial sectors.
Uranium prices may be strong, but mega-producer Cameco lost ground all the same, sliding to US$36.36, down US$2.93.
Copper producers took a hit as investors digested news that housing starts and prices are down across the United States, even though consumer spending appears to be holding strong — for the time being at least. Phelps Dodge, a barometer of the copper market, dropped US$4.26 to close at US$81.95. Southern Peru Copper was off US$4.14 at US$87.25 over the same period.
Potash Corp. of Saskatchewan bucked the trend and also took top spot as the largest value gainer, up US$5.42 at US$102. Metals may come in and out of favour, but people always have to eat, and fertilizer helps to kick-start that process.
Mesabi Trust also got a boost of US$1.13 to US$20.78. The trust collects royalties and bonuses from the sale of minerals from the Mesabi Iron Range of Minnesota.
Most gold producers lost ground over the report period, with one exception being Gammon Lake Resources, which rose US72 to US$12.02. The company operates the new Ocampo gold-silver mine in Mexico.
U.S. greatest percentage change
| VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Sao Luis Mng* | SAOL | 898 | 1.84 | 1.00 | 1.65 | +57.1 |
| Lafayette Mng* | LYMGF | 78 | 0.07 | 0.04 | 0.07 | +40.0 |
| Colombia Gldf* | CGDF | 535 | 1.42 | 1.15 | 1.41 | +23.6 |
| El Capitan Pr* | ECPN | 1970 | 1.43 | 0.90 | 1.10 | +14.5 |
| Tara Gold* | TRGD | 1992 | 0.36 | 0.31 | 0.35 | +12.9 |
| Miranda Gold* | MRDDF | 276 | 1.31 | 1.098 | 1.28 | +10.3 |
| Commerce Grp* | CGCO | 44 | 0.12 | 0.10 | 0.11 | +10.0 |
| Little Squaw* | LITS | 144 | 1.67 | 1.51 | 1.67 | +7.7 |
| Michigan Gold* | MGGV | 383 | 0.016 | 0.012 | 0.015 | +7.1 |
| Gammon Lk Res* | GRS | 504 | 12.10 | 11.08 | 12.02 | +6.3 |
| NT Holding* | NTHH | 229 | 1.40 | 0.75 | 0.75 | -49.3 |
| Patriot Gold* | PGOL | 458 | 0.125 | 0.071 | 0.081 | -35.2 |
| Apolo Gold* | APLL | 650 | 0.09 | 0.053 | 0.061 | -31.4 |
| Diamond Discv* | DMDD | 2170 | 0.011 | 0.007 | 0.008 | -27.2 |
| Douglas Lk Ml* | DLKM | 74 | 1.00 | 0.70 | 0.80 | -23.8 |
| Starfield Res* | SRFDF | 1918 | 0.268 | 0.17 | 0.20 | -23.0 |
| Wealth Minls* | WMLLF | 253 | 1.49 | 1.13 | 1.18 | -21.3 |
| McKenzie Bay* | MKBY | 1414 | 0.14 | 0.09 | 0.10 | -20.6 |
| New Jersey Mg* | NJMC | 44 | 0.65 | 0.51 | 0.51 | -20.3 |
| Brookmount Ex* | BMXI | 284 | 0.23 | 0.16 | 0.16 | -20.0 |
U.S. greatest value change
| VOLUME | CLOSE | CHANGE | |||
| Potash C Sask* | POT | 2493400 | 102.00 | +5.42 | |
| Mesabi Trust* | MSB | 205700 | 20.78 | +1.13 | |
| Cabot Corp* | CBT | 1092900 | 36.20 | + | 0.83 |
| Gammon Lk Res* | GRS | 503600 | 12.02 | +0.72 | |
| Sao Luis Mng* | SAOL | 898295 | 1.65 | +0.60 | |
| Soc Quim&M Ch* | SQM | 112700 | 111.35 | +0.35 | |
| Colombia Gldf* | CGDF | 534575 | 1.41 | +0.27 | |
| StreetTr Gold* | GLD | 3959600 | 58.50 | +0.27 | |
| Mosaic* | MOS | 3853400 | 16.11 | +0.23 | |
| El Capitan Pr* | ECPN | 1969804 | 1.10 | +0.14 | |
| Rio Tinto* | RTP | 2261400 | 181.32 | -6.24 | |
| Phelps Dodge* | PD | 18444100 | 81.95 | -4.26 | |
| Southern Peru* | PCU | 4171000 | 87.25 | -4.14 | |
| Teck Comin B* | TCK | 264700 | 58.15 | -3.04 | |
| Glamis Gold* | GLG | 5287700 | 36.84 | -2.97 | |
| Cameco Corp* | CCJ | 7620400 | 36.36 | -2.93 | |
| Peabody Enrgy* | BTU | 24091100 | 35.20 | -2.91 | |
| Alcan* | AL | 6549400 | 38.71 | -2.86 | |
| Lihir Gold* | LIHRY | 116604 | 40.75 | -2.35 | |
| Massey Energy* | MEE | 11432200 | 19.81 | -2.27 |
U.S. most active issues
| VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | ||
| AuGrid* | AUGC | 507151 | 0.00 | 1.0E8 | 0.00 | 0.00 |
| Goldspring* | GSPG | 49180 | 0.005 | 0.003 | 0.004 | -0.001 |
| CVRD* | RIO | 27429 | 21.09 | 19.17 | 19.76 | -1.21 |
| Equitable Mng* | EQBM | 25813 | 0.01 | 0.005 | 0.009 | -0.001 |
| Peabody Enrgy* | BTU | 24091 | 38.93 | 32.95 | 35.20 | -2.91 |
| Newmont Mng* | NEM | 22910 | 44.70 | 42.21 | 43.08 | -1.74 |
| Alcoa* | AA | 19697 | 28.44 | 26.60 | 27.29 | -1.19 |
| Goldcorp* | GG | 19375 | 23.85 | 21.64 | 21.98 | -1.74 |
| Phelps Dodge* | PD | 18444 | 86.41 | 78.91 | 81.95 | -4.26 |
| Arch Coal* | ACI | 16654 | 29.13 | 25.88 | 27.45 | -1.06 |
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