Tesla stock remains heavily shortedTesla Inc (NASDAQ:TSLA) stock is down 2.3% to trade at $285.20 this morning, after Morgan Stanley issued a price-target cut to $291 from $376 and slashed its profitability forecasts. The analyst in coverage expressed concerns about Model 3 production and the recent executive turnover, saying TSLA is trading near fair value. On the other hand, Electrekjust got it...Read More
Wall Street has extremely high expectations for WTW sharesScanning the analyst attention across Wall Street this morning, two names that stood out were Weight Watchers International, Inc. (NYSE:WTW) and Ulta Beauty Inc (NASDAQ:ULTA). The healthy eating specialist and the cosmetics retailer could both be aiming for fresh highs soon, based on recent analyst coverage. We'll take a closer look at shar...Read More
Mr. Mark Kolebaba reportsADAMERA PROVIDES EXPLORATION UPDATE - FOLLOW-UP DRILLING ON HIGH GRADE ZONES SCHEDULEDAdamera minerals Corp. has provided an update on its exploration of the Cooke Mountain project in Washington State.Drilling on high-grade intercepts generated in 2017 and 2018 is scheduled to resume in June, 2018. As a result of the 2017 and 2018 programs, Adamera has better defined two...Read More
Mr. Mark Kolebaba reportsADAMERA PROVIDES EXPLORATION UPDATE - FOLLOW-UP DRILLING ON HIGH GRADE ZONES SCHEDULEDAdamera minerals Corp. has provided an update on its exploration of the Cooke Mountain project in Washington State.Drilling on high-grade intercepts generated in 2017 and 2018 is scheduled to resume in June, 2018. As a result of the 2017 and 2018 programs, Adamera has better defined two...Read More
Valeant Pharmaceuticals stock has been surging since early AprilShares of drug name Valeant Pharmaceuticals Intl Inc (NYSE:VRX) are trading higher this morning, after the stock received an upgrade from Mizuho to "buy" from "neutral" and a price-target hike to $27 from $15, with the analyst in coverage calling the company's portfolio "Mylan-like." In response, VRX is up 2.8% at $21.40, at last che...Read More
WARSAW, May 15 (Reuters) - Poland's KGHM, one of the world's biggest copper and silver producers, reported a 38 percent slide in first-quarter net profit on Tuesday, hit by lower output and sales.The state-run company said net profit for the first three months of the year stood at 439 million zlotys ($121.08 million), compared with the 453 million zlotys expected by analysts and 710 million zlotys...Read More
WARSAW, May 15 (Reuters) - Poland's KGHM, one of the world's biggest copper and silver producers, reported a 38 percent slide in first-quarter net profit on Tuesday, hit by lower output and sales.The state-run company said net profit for the first three months of the year stood at 439 million zlotys ($121.08 million), compared with the 453 million zlotys expected by analysts and 710 million zlotys...Read More
LONDON, May 15 (Reuters) - Anglo American will spin out its internal venture capital unit, it said on Tuesday, as the world's biggest platinum producer seeks to spur investment in fuel-cell technology to boost demand for a commodity in oversupply.A push, particularly in Europe and China, for lower-emission transport raises the prospect of weaker demand for platinum, whose biggest industrial use is...Read More
HONG KONG, May 15 (Reuters) - Australian miner Argosy Minerals plans to use the production from the pilot plant at its lithium carbonate mine in Argentina to entice financing for its commercial operations at the site, a company executive said on Tuesday.Argosy's Rincon project in northern Argentina will start producing 500 tonnes per year of lithium carbonate equivalent (LCE) next month, Managing...Read More
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More
The 10-year Treasury yield has climbed back above 3%The Dow Jones Industrial Average (DJI) is pointed lower in pre-market trading, which could put the blue-chip index's shot at a nine-day winning streak in jeopardy. A negative earnings reaction for Home Depot (HD) is pressuring Dow futures, after the retailer's first-quarter revenue and same-store sales came in lower-than-expected. Traders are al...Read More
PremierGold Mines Ltd. (TSX: PG) says the preliminary economic assessment for the Coveproject in Nevada shows mining would result in life-of-mine gold production of740,000 ounces during eight years of operations, which would an average of92,400 annually. The company reports indicated mineral resources of 1,045,000tons at 0.327 ounces of gold per ton and 0.861 ounce of silver per ton, meaning342,00...Read More
World's No.2 miner Rio Tinto (LON, ASX:RIO) said Tuesday that cost inflation driven by rising oil prices and a resurgence of resource nationalism are increasingly affecting mining companies' investment decisions.Speaking at the Bank of America Merrill Lynch conference in Miami, chief executive Jean Sebastien-Jacques said he remained optimistic about the medium to long-term global growth outlook...Read More
World's No.2 miner Rio Tinto (LON, ASX:RIO) said Tuesday that cost inflation driven by rising oil prices and a resurgence of resource nationalism are increasingly affecting mining companies' investment decisions.Speaking at the Bank of America Merrill Lynch conference in Miami, chief executive Jean Sebastien-Jacques said he remained optimistic about the medium to long-term global growth outlook...Read More
World's No.2 miner Rio Tinto (LON, ASX:RIO) said Tuesday that cost inflation driven by rising oil prices and a resurgence of resource nationalism are increasingly affecting mining companies' investment decisions.Speaking at the Bank of America Merrill Lynch conference in Miami, chief executive Jean Sebastien-Jacques said he remained optimistic about the medium to long-term global growth outlook...Read More
World's No.2 miner Rio Tinto (LON, ASX:RIO) said Tuesday that cost inflation driven by rising oil prices and a resurgence of resource nationalism are increasingly affecting mining companies' investment decisions.Speaking at the Bank of America Merrill Lynch conference in Miami, chief executive Jean Sebastien-Jacques said he remained optimistic about the medium to long-term global growth outlook...Read More
Bloomberg NewsA worker in inside the Watermark Designs manufacturing facility in Brooklyn, New York. The numbers: The Empire State manufacturing index rose in May, to a reading of 20.1 from 15.8 in April, the New York Fed said Tuesday. This was above the 15.5 reading expected by economists surveyed by Econoday. Any reading above zero indicates improving conditions. What happened: The new-order...Read More
(Kitco News)- Gold prices are sharplylower and fell to a nearly five-month low in early U.S. trading Tuesday.Importantly, the yellow metal has fallen below major technical support at$1,300.00. The drop below that key level set off a large number of pre-placedsell stop orders in the futures market, to drive prices still lower. The U.S.dollar index has resumed its trek north today, which is, and has...Read More
The bullish momentum in this triple-leveraged ETF has been unprecedentedThe perennial cautionary note on leveraged exchange-traded funds (ETFs) is that they're not well-suited to trading time frames of more than a day. That's because these instruments are designed to deliver double or triple the underlying index's daily return, but the effects of compounding will warp the relationship between leve...Read More