Even the richest mine eventually runs out.That's what's happening in South Africa, where AngloGold Ashanti Ltd. announced plans Thursday to dispose of its last remaining pit in the country, just as voters were heading to the polls for the sixth general election since the end of apartheid.A transaction for the Mponeng mine southwest of the capital Johannesburg is unlikely to rock financial markets...Read More
Nova Scotia is in the middle of a gold rush," said Sean Kirby, Executive Director of MANS. "One gold mine opened in 2017, four are in the permitting process and there is a lot of exploration taking place. The Nova Scotia Gold Show will be an opportunity for investors and exploration companies to learn about the exciting opportunities in Nova Scotia."The Gold Show will take place October 17-19,...Read More
SailingStone Capital, the second largest shareholder in Rio Tinto- controlled Turquoise Hill (TSE, NSYE: TRQ), is expected to vote against the re-election of the Canadian miner's board members this week, during the company's annual meeting.The San Francisco-based investor claims the four independent directors were handpicked by Rio and are not representing the interest of all investors.SailingSto...Read More
Mid-tier Canadian miner B2Gold (TSX:BTO)(NYSE: BTG) will invest $50 million into expanding its 80%-owned Fekola mine in southwestern Mali, which would allow the operation to churn out 5 million ounces of gold over the new mine life of 12 years.Average annual gold output would increase to more than 550,000 ounces from 2020 - 2024, and to over 400,000 ounces during the remaining seven years.The p...Read More
Sector expert Michael Ballanger muses on the effects of Twitter and political maneuvers on the markets, and specifically on a favorite gold explorer. I have a confession to make: There are no free markets anymore; there are only interventions. Of course, I bow to Gold Anti-Trust Action Committee (GATA) cofounder Chris Powell, who coined that brilliant phrase a few years ago, because it was certai...Read More
The S&P and Nasdaq also logged their worst losses in monthsThe Dow took a beating today, following China's retaliatory tariff hikes on $60 billion in U.S. goods. The index fell over 600 points by the end of the day, and marked its worst one-day percentage drop since early January. Tech and trade-sensitive stocks like Boeing (BA) were some of the hardest hit, and an inverted yield curve once again...Read More
Analyst have been hammering down on these stocks China's tariff retaliation has stocks pacing toward their worst day in months. Also in focus this afternoon are Dublin-based Endo International PLC (NASDAQ:ENDP), investment management firm Invesco Ltd. (NYSE:IVZ), and fast food concern Restaurant Brands International Inc (NYSE:QSR). Below, we will dive into what is moving the shares of ENDP, IV...Read More
Call traders could be betting on a 100%+ move from the sharesInsys Therapeutics Inc (NASDAQ:INSY) said after the close on Friday that it may need to file for bankruptcy because of its inability to pay for legal fees surrounding its fentanyl scandal. The stock has lost almost one-third of its value today to trade at $0.92, touching its lowest levels since 2011. Still, some risky speculators may be...Read More
The equities are attracting short-term option bullsWhile most stocks are swimming in red ink due to the escalating U.S.-China tariff war, blockchain-related stocks are bucking the trend to trade higher. More specifically, a big rebound in bitcoin has lifted penny stocks Marathon Patent Group Inc (NASDAQ:MARA) and Riot Blockchain Inc (NASDAQ:RIOT), and option bulls are speculating on even more upsi...Read More
More than 680,000 AAPL options have traded todayApple Inc. (NASDAQ:AAPL) is down 5.8% to trade at $185.81, on track for its worst one-day drop since Jan. 3. Not only is the reignited U.S.-China trade war weighing on the shares, but an unfavorable Supreme Court ruling is allowing an antitrust lawsuit against Apple and its App store to proceed. In response, options traders have come out greater-than...Read More
One trader bet $1.4 million on a quick bounce for the EpiPen makerIt's been a rough stretch for Mylan NV (NASDAQ:MYL) stock, which is down more than 30% since its May 6 intraday peak at $28.46, due in part to last week's post-earnings bear gap. Options traders have remained hopeful -- and this bullish trend is continuing today, even as MYL stock sinks in sympathy with fellow generic drug stock Tev...Read More
Alibaba is on a list of stocks seeing heavy options volume in recent weeksAlibaba Group Holding Ltd (NYSE:BABA) stock has pulled back sharply since its early May peak north of $195, and is at risk of closing below its 320-day moving average for the first time in months today. Nevertheless, call traders are flooding BABA's options pits, continuing a recent trend seen among speculators.In fact, BABA...Read More
Options traders have been targeting CYBR puts at a rapid clip latelyCyberArk Software Ltd (NASDAQ:CYBR) headlines the unofficial last week of earnings season, set to unveil its first-quarter results before the open tomorrow, May 14. Ahead of the event, CYBR stock has pulled back with the broader market -- down 3.8% to trade at $121.13 -- as the options market prices in a big swing for Tuesday's tr...Read More
By: David Chapman "Peace, commerce, and honest friendship with all nations...entangling alliances with none" Thomas Jefferson, U.S. president 1801-1809, 1743-1826 "Every man lives by exchanging." Adam Smith, Scottish economist, moral philosopher, pioneer of political economy, author, known as the ''Father of Economics,'' 1723-1790 "Sooner or later every war of trade becomes a war of blood....Read More
My minimum upside target for the S&P 500 is still 3095, about 7.4% above these levels, and I am sticking with it. A corresponding rally in the Dow Industrials would leave them just shy of 28,000. Let me also mention that last week's nasty selloff would have tripped a 'mechanical' buy signal if the S&Ps had fallen just a little farther. The rally targets are purely technical and go directly aga...Read More
Traders will prefer to be long gold than short gold. I was hoping that sense will prevail in Trump and that a trade deal would be done with China on the weekend. Trump tweets suggest that he has refused to budge and will not budge for the rest of the his term which ends in January 2021. It is very difficult to predict the real long term impact of the US-China trade on China and rest of the wor...Read More
Traders are hitting the bricks after China's retaliatory tariffsThe Dow Jones Industrial Average (DJI) is falling further at midday, flirting with a 600-point pullback on this morning's bombshell that China is raising tariffs on U.S. imports. Huge losses in the tech sector have the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) posting similar pullbacks, while Apple (AAPL) is the top Dow loser so...Read More
H.C. Wainwright initiated coverage with an $11 price target and a "buy" ratingH.C. Wainwright just initiated coverage on the drugmaker Rockwell Medical Inc (NASDAQ:RMTI). The brokerage firm started with a "buy" rating and an $11 price target, which is more than double the stock's current levels. The analyst called Rockwell, which specializes in end-stage renal disease treatments, an "emerging biop...Read More
TEVA is pacing for its worst session since 2017Drugmaker Teva Pharmaceutical Industries Ltd (NYSE:TEVA) is tanking this morning, last seen down 12.7% at $12.53, after several U.S. states filed a price-fixing lawsuit against the company, accusing it of scheming to stifle generic drug competition. What's more, already today the security has touched a fresh annual low of $12.45, and is set for its...Read More
The newly public company just reported its first-quarter resultsThe Germany-based e-commerce concern Jumia Technologies AG (NYSELJMIA) released its first-quarter results this morning -- its first since going public in mid-April -- to disastrous results. The so-called "Amazon of Africa" company reported smaller-than-expected growth in revenue from last year, and a big quarterly loss. In response, J...Read More