John Thornton is a Goldman Sachs alumnus educated at Yale, Harvard and Oxford. Mark Bristow is a South African geologist and big-game hunter.Together, this corporate odd couple has a plan to turn around the lagging fortunes of the world's largest gold-mining company, whose shares are down 67 percent from their high in 2010. Thornton, executive chairman of Barrick Gold Corp., set the partnership in...Read More
The company announced successful trial results for its breast cancer drugShares of Puma Biotechnology Inc (NASDAQ:PBYI) are up 6.9% at $22.90, after the company announced successful results of the Phase III NALA trial for its experimental breast cancer drug, neratinib. Analysts are waxing optimistic on PBYI shares, with Cantor Fitzgerald upping its price target to $55 from $50 -- more than double...Read More
Short sellers have been ramping up their exposure to the stockEnergy stock EOG Resources Inc (NYSE:EOG) has struggled since its mid-October highs near $133.50, down more than 25%. A negative earnings reaction in early November only exacerbated headwinds for the shares, with the Nov. 1 pre-earnings close creating a stiff ceiling in recent weeks. What's more, a recent rejection at the 40-day moving...Read More
Both stocks have been struggling in recent weeksBoeing Co (NYSE:BA) said it's boosting its quarterly dividend by 20%, and hiking its share buyback program by $2 billion to $20 billion. In reaction to the news, BA shares are up 4.2% to trade at $329.53, climbing back above their 320-day moving average, which has served as a magnet in recent weeks.The shares of the aerospace giant are still on track...Read More
There is ample room for a further shift in sentiment toward PMThe shares of Philip Morris International Inc. (NYSE:PM) are down 1.8% to trade at $79.95, after Credit Suisse downgraded the tobacco name to "underpeform" from "neutral," while slashing its price target to $74 from $92. The analyst in coverage says the company's reliance on heated tobacco products leaves it exposed to significant downs...Read More
JAKARTA, Dec 18 - Indonesia's state-owned miner PT Inalum expects to finalise a deal this week to take majority control of the local unit of global mining giant Freeport McMoRan Inc, the company's chief executive told Reuters on Tuesday.The deal will close "hopefully this week", said Budi Gunadi Sadikin, adding that a conclusion looked "highly likely."Inalum was proposing to sell a 10 percent stak...Read More
UNG has cooled off quite a bit from its steep November ramp higherWhile stocks were taking a drubbing during the month of November, natural gas futures were in the midst of a high-volatility move of their own -- albeit in the complete opposite direction. The United States Natural Gas Fund (UNG) wrapped up last month on a gain of 39.8%, which marked its biggest monthly advance in a decade (and whic...Read More
NCR shares have been hit hard in recent yearsNCR Corporation (NYSE:NCR) shares have been stuck in a two-year downtrend, falling from an early 2017 peak near $50 to Monday's close of $22.71. In more recent months, the 80- and 120-day moving averages have capped upside advances, and the stock just yesterday hit a nearly two-year low of $22.58. RBC isn't worried, however. The brokerage firm already h...Read More
The Fed will kick off its final policy-setting meeting of 2018The stock market appears to be stabilizing following yesterday's sharp sell-off, with Dow Jones Industrial Average (DJI) futures trading above fair value this morning. Today's focus will be on the Fed, which kicks off its final policy meeting of 2018. Fed funds futures are pricing in a 71.5% chance the central bank will raise interest r...Read More
Early investors stand to reap the rewards as a new technology looks to change everything.One research firm - which recommended Google and Amazon before they became household names - has built a worldwide reputation of identifying profitable tech trends well before Wall Street and the talking heads on T.V.And just recently, they've uncovered a technology that's already being labeled "humanity's las...Read More
Pacific Empire Minerals (TSXV: PEMC) announced that it has entered into an option agreement with a group of vendors and consolidated a land position of over 90 square kilometres in the Babine copper-gold porphyry district in central British Columbia, Canada.In a media statement, the prospect generator said that the staked ground was added to its Paragon project, which also includes the company's W...Read More
Australia's largest gold producer, Newcrest Mining (ASX: NCM) has upped its holdings in Ecuador-focused explorer SolGold (LON, TSX:SOLG), which is developing the Cascabel copper-gold project in the country's north.The deal further bolsters Newcrest's position in SolGold against No.2 shareholder, BHP, as it raises its stake in the junior miner to 15.33% from 13.83%.In September, BHP bought Guyana G...Read More
Jiulian Resources (TSX-V: JLR) announced that it has received a five-year area-based permit from the British Columbia Ministry of Energy, Mines and Petroleum Resources to establish up to 60 drill sites and four kilometres of exploration trail for core drilling on its Big Kidd Property in British Columbia.Big Kidd is a 4,056-hectare property located 25 kilometres east of Merritt. Historic drilling...Read More
CloseGain/LossGold $1249.30+$3.00Silver$14.64-$0.03XAU70.61+2.05%HUI160.34+2.31%GDM583.74+2.24%JSE Gold1328.43+26.18USD97.06-0.08Euro113.64+0.17Yen89.18+0.64Oil$46.24-$3.6410-Year2.823%-0.035T-Bond144.4375+0.65625Dow23675.64+0.35%Nasdaq6783.91+0.45%S&P2546.16+0.01% The Metals: Gold erased early Asian gains and dipped to $1245.10 at about 2AM EST before it rallied up to $1...Read More
By Dave KranzlerA friend asked me today what I thought Powell should do. I said, "the system is screwed. It ultimately doesn't matter what anyone does. The money printing, credit creation and artificially low interest rates over the last 10 years has fueled the most egregious misallocation of capital in history of the universe.Eventually the Fed/Central Banks will print trillions more - 10x mo...Read More
Dear Friend of GATA and Gold:Thanks to C.C., our new friend in Shanghai, China, for alerting us to Chinese-language commentary published in August in the Hong Kong Economic Journal that cited GATA extensively, even taking for illustration the GATA painting by Alain Despert: https://www1.hkej.com/dailynews/investment/article/1914231/ Your secretary/treasurer today has had some fun attempting a tr...Read More
The last few years of the Everything Bubble were driven by the ultimate dumb money: corporations borrowing to buy back their stock at record high prices. A whole generation of CEOs and CFOs were able to pad both their reputations and their year-end bonuses this way while, it seemed, blatantly screwing over their employees and other stakeholders. Like most other kinds of criminal negligence, this...Read More
Graceland Updates By Stewart Thomson 1. The US stock market continues to implode. At the same time, precious metals, bitcoin, and the Indian stock market are acting as superb safe havens.2. Please click here now. Double-click to enlarge this great short term gold chart.3. Note the positive bounce from buy-side support at $1237, and the inverse H&S bottom pattern. A fresh r...Read More
By David Haggith It's downright wintry on Wall Street right now. Firmly establishing the worst start of a December for the US stock market in 38 years, all three major stock indices plumbed the greatest depths they have hit all year ... and it's been a bad year! The S&P 500 and the Nasdaq closed at 2,546 and 6,754 respectively. The Dow closed down 504 points to rest at 23,593. If it closes the...Read More
Dear Friend of GATA and Gold:Are gold and silver mining companies joining the class-action lawsuits being filed against investment bank JPMorganChase because of the confession by a former futures trader for the bank who has pleaded guilty to manipulating the monetary metals markets?:https://www.cnbc.com/2018/12/13/jp-morgan-faces-lawsuits-after-guilty-pl...While gold and silver mining investors...Read More