Mining three satellite deposits that outcrop within one to three kilometres of the Madsen mill at its Madsen project in Red Lake, Ontario, would add roughly $51 million in after-tax net present value to the Madsen project, Pure Gold Mining (TSXV: PGM) reports.A preliminary economic assessment released today of the three satellite deposits-Fork, Russet South and Wedge-was based on their combined re...Read More
SRPT stock is at its highest level since late SeptemberStocks are trading lower today after U.S. Trade Representative Robert Lighthizer's congressional testimony. Among individual names making notable moves are drugmakers Sarepta Therapeutics Inc (NASDAQ:SRPT) and Jazz Pharmaceuticals PLC (NASDAQ:JAZZ), as well as nutritional supplements retailer GNC Holdings Inc (NYSE:GNC). Here's a quick look at...Read More
One of the stocks is flirting with a 13-day win streakSoftware names Workday Inc (NASDAQ: WDAY) and VMware, Inc. (NYSE:VMW) are set to report earnings after the close tomorrow, Feb. 28, and both stocks have been strong heading into the quarterly updates. Below, we'll take a closer look at WDAY and VMW shares to see how Wall Street is positioned before earnings. Room For Bull Notes on WorkdayWDAY s...Read More
Gold prices on Wednesday finished lower for a third consecutive session, giving up its month-to-date gain, even as uncertainty hung over financial markets, putting pressure on stocks. "Gold has lost a bit of its allure over the last week, which may be indicative of a trade that's become a little overcrowded and prone for correction," said Craig Erlam, senior market analyst at Oanda, in a daily not...Read More
The stocks have ended March higher every year for the past decadeOil prices are higher this afternoon, after U.S. crude and gasoline inventories declined last week. Meanwhile, a pair of energy stocks could muscle even higher in the next few weeks, if recent history is any indicator. Specifically, both Atmos Energy Corporation (NYSE:ATO) and Sempra Energy (NYSE:SRE) stocks tend to thrive in the mon...Read More
VIX fell more than 30% below its 50-day trendline earlier this weekThe Cboe Volatility Index (VIX) has imploded by historical measures in 2019, falling from a Dec. 26 intraday peak at 36.20 to a Feb. 22 four-month closing low of 13.51. However, a rare technical signal just flashed for the stock market's "fear gauge," which could suggest a short-term spike in volatility, if past is precedent.Accord...Read More
The mobile game maker could be on sale at current levelsGlu Mobile Inc. (NASDAQ:GLUU) stock hit an 11-year high of $10.40 on Feb. 4, just before the company reported disappointing earnings. The equity subsequently dropped on the news, but has found an area of support atop the $8.50 level, and still boasts in impressive year-over-year gain of 129%. What's more, the mobile game maker just flashed a...Read More
Fed Chair Jerome Powell is concluding his congressional testimony todayThe Dow Jones Industrial Average (DJI) is sharply lower at midday, down nearly 150 points amid flurry of market-moving events. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are joining the Dow in the red,after U.S. Trade Representative Robert Lighthizer said in congressional testimony that "much still needs to be don...Read More
In 1986, Peter Munk bought a gold mine in northeastern Nevada for $62 million. The mine was only producing 40,000 ounces of gold a year back then (around $16 million annually) ... and the sellers believed the land held 600,000 ounces easily minable gold. But those estimates were woefully short. By 1992, the mine yielded 1.1 million ounces of gold. Today, the mine, known as Goldstrike, is the ric...Read More
Gold On Wednesday, gold price ignored the 55 and 200-hour simple moving averages. The price fluctuated around them freely. Meanwhile, the resistance of the 100-hour SMA was still able to push the pair lower. A decline of the commodity is still expected, as the previous support levels have moved above the price and begun to provide resistance. Meanwhile, take into account that round pr...Read More
PLNT has been a long-term outperformer on the chartsShares of Planet Fitness Inc (NYSE:PLNT) are moving higher this morning, after the company last night reported fourth-quarter earnings that surpassed estimates. With earnings coming in at 34 cents per share on $174.4 million in revenue, PLNT was last seen up 6.8% at $60.81. PLNT has been on a long-term uptrend on the charts, having added 63% yea...Read More
* Emergency teams looking for 37 buried by disaster* Spades, ropes used to search muddy hillside for survivors* At least 4 killed, 19 rescued - disaster agency and media* Illegal mine situated in North Sulawesi province* Such mines banned by Jakarta, are prone to mishapsIndonesian authorities on Wednesday ramped up efforts to find 37 people feared buried by the collapse of an illegal gold mine on...Read More
BBY stock is soaring after a holiday-quarter beat The shares of Best Buy Co Inc (NYSE:BBY) are up 16% at $69.93 today, after the electronics retailer announced fourth-quarter earnings and revenue that beat expectations. The company also issued upbeat guidance and announced a dividend hike. BBY stockis now pacing for its biggest one-day pop since May 2017. BBY stock just bottomed out at an annual...Read More
The Chilean government will actively be seeking investors for 25 new mining projects when it attends the PDAC Convention in Toronto next week. The projects, which include the mining of a variety of metals including copper, gold, lithium and cobalt, will represent an investment of $500 million and are estimated to lead to 1,500 new jobs in the construction phase alone.Chile's Minister of Mining, Ba...Read More
The March 30 put was bought to open earlier this monthThe shares of Weight Watchers International, Inc. (NASDAQ:WTW) are bracing for a big drop out of the gate, after the weight loss specialist's disappointing earnings report was met with a round of bearish brokerage notes. And even news major stakeholder Oprah Winfrey will take a key role in the company's upcoming marketing campaign can't save th...Read More
MYL was trading near a historically bearish trendline heading into todayThe shares of Mylan NV (NASDAQ:MYL) are down 10% in electronic trading, after the EpiPen producer reported adjusted fourth-quarter profit of $1.30, falling short of analysts' $1.36 per share estimate. The drugmaker's 2019 profit forecast also was beneath expectations, prompting five price-target cuts, including one to $36 fro...Read More
Fed Chair Jerome Powell will testify in front of Congress once againDow Jones Industrial Average (DJI) futures are lower again today, amid a summit between President Donald Trump and North Korean leader Kim Jong Un in Vietnam, with the leaders attempting to resolve gridlock over Pyongyang's nuclear weapons. In addition, Wall Street is watching escalating tensions between Pakistan and India, after...Read More
GW Pharmaceuticals posted strong fourth-quarter revenueGW Pharmaceuticals PLC (NASDAQ:GWPH) is trading up 12.5% before the open, as investors applaud the cannabidiol treatment expert's fourth-quarter results, which featured a 67% increase in revenue. In response, J.P. Morgan Securities and Stifel raised their respective price targets for GWPH stock to $180 and $191. Most analysts are already bulli...Read More
• A modest USD rebound/US-China trade optimism prompts some fresh selling. • Downside remains limited on the back of Powell’s overnight dovish message. • Today’s release of US durable goods orders eyed for some short-term impetus. Gold traded with a mild negative bias through the early European session on Wednesday,...Read More
The S&P is pacing toward its fifth 10%+ two-month gain since 1950Stocks have gotten off to a fast start this year. The last time the S&P 500 Index (SPX) was up this much before the end of February was 1987, which is otherwise known as the year of Black Monday. Do fast starts like this tend to be vulnerable to sharp pullbacks? This week, I'm looking back at other instances where stocks shot higher...Read More