Today is Tuesday, March 10, 2020, and this is your daily gold market update. Let's look at the latest price of gold, value of the dollar, gold/silver ratio, Commitment of Traders data, and exchange-traded fund (ETF) prices to get a sense of how the yellow metal is faring today.Gold PriceThe price of one troy ounce of gold in U.S. dollars today is $1,657.73. It's down -0.95% from yesterday and up 2...Read More
Today is Tuesday, March 10, 2020, and this is your daily energy stocks roundup. Today we're looking at the valuations of Cactus (NYSE: WHD), Baker Hughes (NYSE: BKR), and Liberty Oilfield Services (NYSE: LBRT).Cactus (NYSE: WHD)Cactus (NYSE: WHD) is a $1.037 billion company today with a one-year return of -60.23%. Let's look at its price-to-earnings (P/E) ratio, its enterprise-value-to-free-cash-f...Read More
There are two new all-time highs on the S&P 500 today: Clorox (NYSE: CLX) and Dollar General (NYSE: DG).Clorox has a P/E of 27.50 and a forward dividend of 2.41%. And, truth be told, it's had a nice 10-year run:Clorox has averaged 14.23% annually over the last 10 years; that's better than Kimberly-Clark, Procter & Gamble, and the S&P 500. In 2008, during the start of the last recession, CLX was...Read More
This episode features a keynote speech by Barrick Gold CEO Mark Bristow at the Prospectors and Developers Association of Canada (PDAC) conference in Toronto. Bristow discusses how gold production is "teetering on the brink of a production decline" and how Barrick plans to circumvent the situation by developing 'Tier 1' mines and prospects. He also explains how ESG is becoming a major factor in inv...Read More
Copper Mountain Mining (TSX: CMMC) became the latest company to adjust its plans due to collapsing equity markets and near-term copper price uncertainty as a result of the rapidly spreading coronavirus (Covid-19).The Vancouver-based miner has revised its mine plan and schedule for its flagship asset, the Copper Mountain project in British Columbia, deferring a US$22 million capital spend by delayi...Read More
The S&P/TSX Venture Composite Index rose 1.80% to 506.54 and gold finished the week at US$1,673.10 per oz., a rise of US$87.60 per oz. from the previous week.Shares of Aurania Resources rose by $0.49 to $3.44 per share. The company recently closed the second tranche of an $8 million non-brokered private placement announced in February, with proceeds of $4.16 million. Combined with the first tranch...Read More
The Dow Jones Industrial Average rose 1.79% to 25,864.78 and the S&P 500 advanced 0.61% to 2,972.37. Spot gold surged US$87.60 per oz. or 5.53% to US$1,673.10 per oz.Fortuna Silver Mines updated shareholders on the status of legal proceedings related to a disputed royalty on one of its mining concessions at the San Jose mine in Oaxaca, Mexico. On Mar. 2, the District Court in Mexico City granted a...Read More
The S&P/TSX Composite Index fell 0.54% to 16,175.02. The S&P/TSX Global Mining Index rose 3.84% to 74.17, while the S&P/TSX Global Base Metals Index fell 4.94% to 81.10. Spot gold jumped US$87.60 per oz. or 5.53% to finish the trading week at US$1,673.10 per oz., sending the S&P/TSX Global Gold Index up 11.92% to 240.63.Shares of Balmoral Resources jumped 55% to 48 ? on news that it is being acqui...Read More
The group, who said combined they held at least 5% of MGX, cited concerns including the potential misuse of company funds and destroyed shareholder value, saying the share price had decreased from C$2Read More
State copper company Codelco produced 118,600t in the month, 6.8% less than in the same period of 2019 and 36.8% lower than in December 2019 as output at its north division centred around Chuquicamata and El Teniente fell significantly.Production at the BHP-controlled Escondida increased 9.9% compared with a year ago to 100,900t, but fell 4.5% from December. The Anglo American-controlled Collahuas...Read More
I hope you bought the VIX before yesterday's bloodbath. During morning trading, you couldn't even get a price on it. According to CBOE Global Markets, there was a complete absence of pricing from market markers.A CBOE Senior Trade Desk Specialist told Reuters that VIX options became tradable at 9:51 A.M. but no trades went through at all for a full seven minutes. There was no one on the other side...Read More
Colombia, Ecuador and Peru all host prospective geological settings for mineral exploration. While they remain under-explored by modern-day standards, South America's reputation as an established mining destination gives a head start to companies looking to develop projects in these countries. Auryn ResourcesA geologist collects a sample at the Totora target on Auryn Resources' Sombrero copper pro...Read More
Central banks around the world are panicking as their interest rate plans have completely derailed in light of the coronavirus outbreak. The virus that causes COVID-19 broke out in Wuhan, China, earlier in 2020.At writing, cases of the virus in China have increased, and there have been outbreaks in Northern Italy, Korea, and Iran. Forty banks have already cut interest rates due to the pandemic, an...Read More
Buying a basketful of the top TSX dividend stocks is a smart play right now. Indeed, a bear market could already be underway, with sentiment taking a downward turn.The next few months will determine whether the record bull run is finally at an end. In the meantime, getting defensive is a strong move.Here are two top stocks to buy now as pundits turn bullish on dividend stocks.Buying the best Canad...Read More
The March edition of our On the Move newsletter is now available. The monthly publication tracks management and board appointments across Canada's mining and mineral exploration industry.To view a copy of the newsletter, click here.Keep us up to date on your company's latest appointments and achievements by emailing us at [email protected] or sign up for the free newsletter.Read More
Red Chris mine, British Columbia. (Image courtesy of Newcrest Mining) Newcrest Mining (ASX: NCM) has lowered its gold production forecast for the full year due to reduced output following the sale of its interest in the Gosowong mine in Indonesia.Australia's largest listed gold miner cut gold production outlook to between 2.1 million ounces and 2.2 million ounces for fiscal 2020, from 2.38 milli...Read More
Brucejack mine, British Columbia. Image courtesy of Pretivm ResourcesPretium Resources has released updated resources and reserves for the Valley of the Kings zone at the Brucejack mine in British Columbia as well as an updated life of mine plan. Most notable is the 36% drop in the reserve grade for this zone down to 8.8 g/t gold, versus the prior estimate of 13.8 g/t.The resulting mine plan upd...Read More
The plant at First Quantum Minerals' Cobre Panama mine. Credit: First Quantum Minerals Royalty and streaming company Franco-Nevada just had its best year ever, reporting revenue of $844.1 million on the sale of 516,438 gold-equivalent oz.Net income for the year was $344.1 million, or $1.83 per share.The final quarter of 2019 was also the company's best quarter ever, with revenue of $258.1 million...Read More
Aurizona gold mine, Brazil. (Image courtesy of Equinox Gold.) Equinox Gold (TSX: EQX NYSE: EQX) and Leagold Mining Corporation announced Tuesday they have completed their business combination, merging to create one of the world's top gold producing companies operating entirely in the Americas. The deal, announced in December, adds Leagold's four mines in Mexico and Brazil to Equinox's port...Read More
1.The US government is taking Corona very seriously, but only as it relates to the stock market. 2. Instead of trying to save burning stock market investors from an ongoing sleigh ride into the financial abyss, the government needs to start mobilizing the nation's armed forces... for the biggest mass disinfectant program in the history of America.3. Trump is gambling (with millions of l...Read More