FeedPosted Nov 12th 2009 1:00PM by Mark Fightmaster (RSS feed)
Filed under: Barrick Gold (ABX), Commodities
Late in the evening of November 11, The Daily Telegraph reported that Barrick Gold (ABX) has shut its hedge book because the world gold supply is running out. Barrick Gold's president, Aaron Regent, told the periodical that global output has been shrinking at a pace for nearly 1 million ounces a year since the start of the decade.
At RBC's annual gold conference in London, Regent noted that "There is a strong case to be made that we are already at 'peak gold.'" Regent believes that production peaked around 2000 and has dropped ever since, he adds that Barrick Gold believes the decline will continue because "It is increasingly difficult to find ore."
Continue reading Barrick Gold shuts hedge book over world gold supply
Posted Sep 20th 2009 11:40AM by Tom Johansmeyer (RSS feed)
Filed under: Good news, Barrick Gold (ABX), Newmont Mining (NEM)
When gold miners and gun-toters lag the broader economy, it's usually a good sign that conditions are on the mend. Both sectors outperform when times were tough, but this year, their growth has slowed relative to the market has a whole.
The S&P 500 index has gained 57% since March 9, 2009, according to a USA Today report, while Barrick Gold (NYSE: ABX) and Newmont Mining (NYSE: NEM) are up 36% and 21%, respectively, for the same period. Smith & Wesson (NASDAQ: SWHC) is up 30%. Again, these are definitely respectable results, but they aren't keeping pace with the index.
Continue reading Guns and gold tell the story on the economy
Posted Sep 12th 2009 9:00AM by Jamie Dlugosch (RSS feed)
Filed under: Barrick Gold (ABX), Yamana Gold (AUY), Goldcorp Inc (GG), Stocks to Sell
Gold at $1,000. Better buy now or you will miss the greatest invention since tulips in the 1800s.
Or so they say. I say, what a bunch of baloney. Why on earth would I want to put hard-earned cash on something that may look pretty but has no real tangible value?
That's right, gold has no tangible value. Well, that's not entirely true since there is a vast cult of worshipers out there that say gold is the only thing with value. As a result of their die-hard belief, gold actually does have value, as we now see with AU trading for $1,000 per ounce.
Continue reading Gold is losing its shine: Five to sell now
Posted Sep 9th 2009 4:00PM by Jon Ogg (RSS feed)
Filed under: General Electric (GE), Barrick Gold (ABX), Palm Inc (PALM)

Today was another up and away day, although after the 2:00 PM Beige Book and after a Treasury auction, it felt like today was just going to be a difficult one to call.
This is a light week on data and a light day on earnings and that makes it a hard tell each day to have serious conviction for bulls and bears alike. The DJIA went above 9,500 and marks the 4th day in a row of a rally.
Here are today's unofficial closing bell levels:
Dow 9,538.23 +40.89 (0.43%)
S&P 500 1,032.47 +7.08 (0.69%)
Nasdaq 2,058.60 +20.83 (1.02%)
Top Analyst UpgradesTop Analyst DowngradesTop Day Trader Alert Stocks
Continue reading Closing Bell: The never ending rally (ABX, GE, PALM, VVUS)
Posted Sep 9th 2009 8:00AM by Paul Foster (RSS feed)
Filed under: Baxter Intl (BAX), Chesapeake Energy (CHK), Barrick Gold (ABX), Options
Baxter (NYSE: BAX) is hosting an analyst day on September 16. BAX closed at $55.60. BAX September option implied volatility of 22 is near its 26-week average of 32 according to Track Data, suggesting decreasing price movement.
Chesapeake Energy (NYSE: CHK) closed at $23.09. Natural gas is recently up 1.32% to 2.844 according to Bloomberg. CHK September option implied volatility is at 45, October is at 47; below its 26-week average of 61, according to Track Data, suggesting decreasing price movement.
Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.
Posted Jun 3rd 2009 10:40AM by Eric Buscemi (RSS feed)
Filed under: Analyst reports, Analyst upgrades and downgrades, Wal-Mart (WMT), Aetna Inc (AET), BB and T (BBT), Barrick Gold (ABX), Analyst initiations, Kinross Gold (KGC)
Analyst upgrades:
- Keefe Bruyette upgraded BB&T (NYSE: BBT) to Market Perform from Underperform as it believes downside risk has been reduced following the company's capital raise. The firm raised its target price to $23 from $15.
- Janney Montgomery upgraded FEI Company (NASDAQ: FEIC) to Buy from Neutral on expectations margins will improve and various country stimulus packages will provide benefits in 2010. The firm has a $31 target on the stock.
- Citigroup upgraded Tyco Electronics (NYSE: TEL) to Buy from Hold as it believes automotive headwinds are priced in and the company's long-term fundamentals are intact. The firm raised its target price to $25 from $19.
- Barrick Gold (NYSE: ABX) was upgraded to Outperform from Sector Perform at RBC Capital.
- J.B. Hunt (NYSE: JBHT) was raised to Overweight from Equal Weight at Stephens.
- Roper Industries (NYSE: ROP) was upgraded at Oppenheimer to Outperform from Perform.
Continue reading Analyst upgrades, downgrades and initiations: TEL, ABX, AET, WMT, VMW ...
Posted Mar 19th 2009 9:30AM by Sam Collins (RSS feed)
Filed under: Barrick Gold (ABX), ETF Investing, Technical Analysis, Commodities, S and P 500, Stocks to Buy
I confess to being surprised by the extent of the current rally, even after many times warning that bear-market rallies tend to be sudden, violent affairs.
Nevertheless, the facts point to the dramatic advance of the past 10 days (the best seven-day rally since 1939) as still nothing more than a rebound following a sell-off that took prices to a level that had to be attacked by bargain hunters and patient investors alike.
Now, however, the easy part is behind them.
Continue reading Today's technical outlook: Too late to buy stocks
Posted Feb 23rd 2009 12:00PM by Eric Buscemi (RSS feed)
Filed under: Analyst reports, Analyst upgrades and downgrades, Exxon Mobil (XOM), Estee Lauder (EL), Netflix, Inc. (NFLX), Barrick Gold (ABX), UAL Corp (UAUA), Analyst initiations
Analyst upgrades:
- Citigroup upgraded Blue Nile (NASDAQ: NILE) shares to Buy from Hold on valuation following the recent sell-off as they believe weakening fundamentals have been factored into estimates and that Blue Nile should benefit from the recent softening of diamond prices. The firm raised its target price to $30 from $20.
- Baird upgraded AmSurg (NASDAQ: AMSG) to Outperform from Neutral based on valuation, potential upside from in-line results, good visibility, and FCF yield.
- Oppenheimer upgraded DryShips (NASDAQ: DRYS) to Perform from Underperform on valuation following the recent weakness and believes the company is at least halfway through its $500M equity offering.
- UAL Corp (NASDAQ: UAUA) was raised to Buy from Neutral at Banc of America/Merrill.
- Mylan (NASDAQ: MYL) was upgraded to Overweight from Equal Weight at Barclays.
- Exxon Mobil (NYSE: XOM) was lifted at Deutsche Bank to Buy from Hold.
Continue reading Analyst upgrades, downgrades and initiations: NILE, XOM, MT, NFLX ...
Posted Feb 14th 2009 10:40AM by Trey Thoelcke (RSS feed)
Filed under: Earnings reports, Coca-Cola (KO), PepsiCo (PEP), Diageo plc (DEO), Boeing Co (BA), Abercrombie and Fitch (ANF), Barrick Gold (ABX), Hasbro Inc (HAS), Activision Inc (ATVI), Marriott Intl'A' (MAR), Wells Fargo (WFC), Nissan Motors (NSANY)
Here are some highlights from this past week's earnings coverage from BloggingStocks:
Continue reading Earnings highlights: Coke, Pepsi, Hasbro, Marriott, Abercrombie, Wells Fargo and others
Posted Jan 26th 2009 8:28AM by Paul Foster (RSS feed)
Filed under: Caterpillar (CAT), Barrick Gold (ABX), Options, Barclays plc ADS (BCS)
Caterpillar (NYSE: CAT) is recently at $31.88 in pre-open trading, below its close of $35.66. CAT says 2009 will be a very tough year. CAT reported Q4 sales and revenues rose 14% from 2007. CAT February option implied volatility of 76 is above its 26-week average of 55, according to Track Data, suggesting larger price movement.
Barclays (NYSE: BCS) is recently trading at $4.50 in pre-open trading, above its close of $3.07. BSC said it will avoid further capital increases as revenue grows. BCS overall option implied volatility of 80 is below its 26-week average of 92, according to Track Data, suggesting decreasing price movement.
Barrick Gold (NYSE: ABX) closed at $39.58. Gold is recently up 1.09% to $907.50 according to Bloomberg. ABX is scheduled to report Q4 EPS in late February. ABX March option implied volatility of 72 is near its 26-week average according to Track Data, suggesting non-directional price movement.
Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com
Posted Jan 13th 2009 1:45PM by Jamie Dlugosch (RSS feed)
Filed under: Barrick Gold (ABX), Stocks to Sell
The mythical lore of gold dates to the dawn of man. Whether for jewels, religion or currency, gold's place in history is quite secure.
In the modern day, gold has become more about safe havens for fear mongers ready to declare the end of the world.
These folks will have you believe that the U.S. dollar will be worthless due to inflationary pressures arising out of a printing-press monetary policy. And that the collapse of U.S.-style capitalism necessitates a return to the one thing that we can count on to hold value no matter the circumstances.
Hogwash! Why not just make granite or bricks the de facto currency of choice. Ridiculous, right? But seriously, tell me the difference.
Of course, gold means so much more to the lunatics that believe the precious metal will solve all of their problems. What a joke. The only real utility for gold is aesthetic. The stuff looks nice in the form of baubles and chains. Beyond that, there is little true value.
Continue reading Don't be a fool -- stay away from gold
Posted Dec 17th 2008 3:36PM by Melly Alazraki (RSS feed)
Filed under: Market matters, Scandals, Research in Motion (RIMM), Barrick Gold (ABX), Canada, Potash Corp. of Saskatchewan (POT)

You can imagine my surprise when I checked the Canadian markets and saw them totally
unchanged. After several refreshes when the zeroes didn't budge, I even panicked. Then I saw the headline (how did I miss it before) that
trading was halted on the Toronto Stock Exchange and TSX Venture Exchange due to a computer glitch. Not only that, but there's also no estimate when trading will resume.
The exchanges have actually
failed to open at the regular time of 9:30 a.m. EST, and as one reporter put it "have been dead in the water since." If this is frustrating and stressful for me, I can't imagine what the mood is like on Bay Street; how traders and other market professionals must feel.
I'm not sure what could be done if there are big swings and news out of the U.S. While it's true the Canadian markets don't totally track their American counterparts, as they're heavily weighted in oil and commodities and react to news from those sectors often, they are still affected by what's going on at Canada's biggest trading partner to the south.
Still, it may not be the end of the world as the Canadian holidays also don't exactly follow the American ones and there are days when the TSE is closed while the American markets are open. Also, there are four alternative trading systems in Canada, two at least have reported to be functioning and operational. While volumes there were higher than usual for these system, they were hardly normal for the market as a whole. No doubt, though, these systems will get a boost following this fiasco.
Continue reading Canadian markets halted due to a glitch -- can it happen in the U.S.?
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