Overnight saw the addition of yet another four-letter-acronym bailout fund from The Fed but signals from the market suggest that they are once again losing control of the dollar-shortage-drivenContinue...Read More
Luxembourg-headquartered stainless steel producer Aperam will pause production at some of its European production lines because of the coronavirus (2019-nCoV) outbreak, the company announced on Thursday March 19. The company said it was taking the measures, "following stringent measures introduced by several governments in terms of health and safety, hygiene, [and] border closures which are heavil...Read More
High-quality gold miners have been accumulating reserves that made sense when gold was considerably lower. Now they're producing at a profit and have free cash flow to distribute toContinue...Read More
The European Commission is to set provisional anti-dumping duties on hot-rolled stainless steel imports from Indonesia, China and Taiwan on April 12.The provisional duties relate to an investigation started on August 12, 2019, following a complaint lodged two months earlier by the European Steel Association Eurofer.The investigation applies to "flat-rolled products of stainless...Read More
China's domestic stainless steel prices and export prices for stainless steel cold-rolled coil fell over the past week due to weakened demand, while a decline in the cost of nickel also put prices under pressure. The London Metal Exchange three-month daily official nickel price was $11,505-11,510 per tonne on Wednesday March 18, down by $975 per tonne or 7.8% from $12,480-12,485 per tonne a week e...Read More
Bob Moriarty of 321gold expresses his views on the potential bailout of industries. When the banking system was on the verge of complete failure in 2008, during the Great Financial Crisis (GFC), the world had a wonderful opportunity to do a total financial reset. All we had to do is let the failures go bankrupt. We will always need a banking system; we just don't need a banking system riddled wit...Read More
In this interview, Maurice Jackson of Proven and Probable talks with Ryan King of Calibre Mining about the latest news from the company. Maurice Jackson: Joining us for a conversation is Ryan King, the vice president of corporate development and investor relations for Calibre Mining Corp. (CXB:TSX.V; CXBMF:OTC.MKTS). Delighted to have you back to provide us with a number of updates regarding the...Read More
An update on Fortuna Silver Mines is provided in a CIBC report. In a March 15 research note, CIBC analyst Cosmos Chiu reported that Fortuna Silver Mines Inc.'s (FSM:NYSE; FVI:TSX; FVI:BVL; F4S:FSE) Q4/19 financials were solid but the company increased capex for its Lindero operation in Argentina.As for Q4/19, Fortuna Silver's adjusted earnings per share (EPS) and cash flow per share (CFPS) were a...Read More
Goldcliff Resource also addresses business continuity during the current coronavirus situation. In a news release, Goldcliff Resource Corp. (GCN:TSX.V; GCFFF:OTCBB) reported on its COVID-19 preparedness.The company does not have a central office or any full-time staff. Most members of the board of directors, responsible for coordinating and executing business, work at home. As such, the coronavir...Read More
Monarch Gold reported that it has contracted to sell its Regcourt and Louvem properties to O3 Mining. In a news release, gold mining company Monarch Gold Corp. (MQG:TSX; MRQRF:OTCMKTS; MR7:FSE) announced that "it has completed the sale of its Regcourt property and its interest in the Louvem property to O3 Mining Inc. (OIII:TSX.V)."The company stated that O3 Mining has issued 113,637 common shares...Read More
James Kwantes of Resource Opportunities discusses the investment thesis behind this Discovery Group company operating in "the prolific Abitibi Greenstone Belt." For veteran speculators, the latest hits to junior mining share prices feels like d?j? vu all over again. Sentiment is gloomy and market capitalizations are depressed. But gold, in U.S. dollar terms, is still up more than 25% year-over-ye...Read More
A resurgent tech sector powered today's rallyThe Dow rebounded from a three-year low today, spearheaded by big gains in the tech sector. Although the triple-digit win was modest in comparison to the roller-coaster volatility seen in recent weeks, the blue-chip index didpare a 700 point deficit at its session lows, and hold on to the psychologically significant 20,000 level. The S&P 500 and Nasdaq...Read More
There will also be updates on the coronavirus outbreak to monitorEven though life for Americans has ground to a halt amid the coronavirus outbreak, the economic agenda still has plenty to offer investors next week. The final fourth-quarter gross domestic product (GDP) reading will be the highlight, as well as earnings reports from the likes of Nike (NKE) and Micron Technology (MU). And if that's...Read More
President Trump said Gilead's coronavirus treatment appears to have positive resultsWhile most stocks have bottomed out as the inescapable coronavirus-sparked selloff rages on, biotech name Gilead Sciences, Inc. (NASDAQ:GILD) has been a notable outperformer. The stock is up 3.4% at $82.12 and earlier hit a two-year high of $85.97 after U.S. President Donald Trump said the drugmaker's experimental...Read More
The brokerage bunch is still bullish on AMATIt's been quite a day for Apple (AAPL) supplier Applied Materials, Inc. (NASDAQ:AMAT). The stock opened lower out of the gate, only quickly pare those losses and pivot higher. At last check, AMAT was up 2.7% to trade at $39.96, but still faces a steep uphill climb out of its 2020 losses.More specifically, Applied Materials stock is down 34% year-to-date...Read More
Peloton's 40-day moving average has acted as pressure on the charts since early FebruarySince plummeting past the $18 region late last week, shares of Peloton Interactive Inc (NASDAQ:PTON) have been huffing and puffing -- trying to gain any sort of traction as markets become increasingly volatile. While the equity managed to string together four straight wins since last week's selloff, a price tar...Read More
Here are five Fastmarkets stories you might have missed on Thursday March 19 that are worth another look.Automobile manufacturers General Motors (GM) and Mercedes-Benz have enforced "collective holidays" at their Brazilian operations starting from March 30, in response to the novel coronavirus outbreak (2019-nCoV), the companies said on Wednesday March 18.Japan's demand for aluminium is the highes...Read More
Weekly jobless claims soared past Wall Street's expectations Dow Jones Industrial Average (DJI) futures are sliding toward even more steep losses today, following the index's first close below 20,000 in over three years last night. Futures on the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are also exploring even more lows this morning, while the 10-year Treasury yield continues to surge....Read More
Stocks fell toward deeper lows this morningAfter a morning deep in the red for major indexes, the stock market is making a swing higher midday. The Dow Jones Industrial Average (DJI), down over 700 points at its session lows, is up 270 points at last check. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also in the black, boosted by FAANG giants Facebook (FB) and Netflix (NFLX). April-da...Read More
No fewer than nine analysts have lowered their price targetsDiscount retailer Five Below Inc (NASDAQ:FIVE) is surging 7.5% at $57.62 this morning, climbing on the heels of an impressive quarterly report, though earlier it bottomed near $47.53. The retail company posted earnings of $1.97 per share, higher than Wall Street's estimate of $1.94. However, the company's reported revenue of $687.13 milli...Read More