Pan American Silver (TSX: PAAS) announced Tuesday that shareholders overwhelmingly (98%) approved the resolution to increase the maximum number of authorized shares of Pan American and the resolution to issue up to 72,533,152 Pan American shares in connection with the proposed plan of arrangement that Pan American will acquire all of the issued and outstanding shares of Tahoe Resources.Tahoe share...Read More
Pan American Silver (TSX: PAAS) announced Tuesday that shareholders overwhelmingly (98%) approved the resolution to increase the maximum number of authorized shares of Pan American and the resolution to issue up to 72,533,152 Pan American shares in connection with the proposed plan of arrangement that Pan American will acquire all of the issued and outstanding shares of Tahoe Resources.Tahoe share...Read More
Juggernaut Exploration (TSXV: JUGR; US-OTC: JUGRF) has discovered a new gold zone on its Midas gold property in northwestern B.C. after drilling 6.85 grams gold per tonne over 9 metres from 35 metres downhole.The company was following up on results from an induced polarization (IP) survey that identified an anomaly about 125 metres below surface. It believes that anomaly represents a deeper feede...Read More
Gold futures finished Tuesday with a loss as gains in the U.S. stock market and strength in the dollar helped to dull the appeal of the haven metal, at least in the short term. February gold on Comex GCG9, +0.13% fell by $4, or 0.3%, to settle at $1,285.90 an ounce, giving back all but a dime of its gain from a day earlier. March silver SIH9, +0.13% meanwhile, followed its sister metal lower to l...Read More
Gold futures finished Tuesday with a loss as gains in the U.S. stock market and strength in the dollar helped to dull the appeal of the haven metal, at least in the short term. February gold on Comex GCG9, +0.12% fell by $4, or 0.3%, to settle at $1,285.90 an ounce, giving back all but a dime of its gain from a day earlier. March silver SIH9, +0.13% meanwhile, followed its sister metal lower to l...Read More
Tactile Systems Technology is heading toward its best day everStocks are modestly higher today, but have pared bigger gains from earlier in the morning. A few notable names making outsized moves today are Dow stock Verizon Communications Inc. (NYSE:VZ), railroad stock Union Pacific Corporation (NYSE:UNP), and medical device maker Tactile Systems Technology Inc. (NASDAQ:TCMD). Below, we'll take a...Read More
PCG stock hit a 15-year low earlierIt's been a rough week for PG&E Corporation (NYSE:PCG). The shares plunged 22.3% yesterday as bankruptcy buzz swirled around the California utility name. Today, the stock is down 11.1% at $16.83, fresh off a 15-year low of $15.78, after S&P Global cut PCG's credit rating to "junk" status and warned additional downgrades could come down the pike if "management doe...Read More
December payrolls were strong – but gold prices rose. What happened? Job Creation Surprises Positively U.S. nonfarm payrolls accelerated in December, beating expectations. The economy added 312,000 jobs last month, following a rise of 176,000 in November (after an upward revision) and significantly above 182,000 forecasted by the economists. The number was the biggest increase since F...Read More
The lights are out in D.C. for an 18th straight dayThe partial U.S. government shutdown has been in effect for 18 days, as lawmakers fail to compromise on a budget. In fact, President Donald Trump is expected to address the nation at 9 p.m. ET tonight, to make a case for funding the controversial border wall. We are just days away from surpassing the longest-ever government shutdown, which happene...Read More
Tanzania named a new mining minister on Tuesday amid a prolonged spat between the government and gold producer Acacia over a $190 billion tax bill, which has severely limited the London-listed company's operations in the East African nation.Dotto Biteko, whose appointment was announced by presidential official John Kijazi on state television, is the third mining minister President John Magufuli ha...Read More
The retailer will unveil its quarterly results after tomorrow's closeHome goods retailer Bed Bath & Beyond Inc. (NASDAQ:BBBY) is slated to report fiscal third-quarter earnings after the market closes tomorrow, Jan. 9. It's been a relatively quiet stretch for BBBY stock, per its 60-day historical volatility of 48.6% -- in the tame 36th annual percentile. However, the options market is expecting a b...Read More
Gold shines in this friendly macro environment.While ETF investment demand for gold was stable in 2018, speculative demand dropped sharply.Monetary demand for gold should rise strongly in Q1 2019 due to gold's insurance qualities.Trading momentum is positive for gold, signaling a continuation of the rally in near term.Consider GLDM to play the appreciation in gold prices. Expect, Maryna Suprun (Sa...Read More
CLVS stock rallied more than 18% yesterday Yesterday, Clovis Oncology Inc (NASDAQ:CLVS) surged more than 18%, after better-than-expected sales numbers for its cancer drug Rubraca, as well as a bull note from Leerink. However, the good times for CLVS may soon come to an end, if history is any guide.Specifically, the security is trading within one standard deviation of its 80-day moving average. In...Read More
Gold imports by India tumbled by a fifth last year as high domestic prices deterred buyers in the second-biggest consuming nation and local stores remained well-stocked, highlighting a headwind to global demand even as bullion in dollars gains on renewed haven buying.Overseas purchases fell to 762 metric tons in 2018, a 20 percent slump from the previous year, according to a person familiar with t...Read More
The Nasdaq briefly turned negativeThe Dow Jones Industrial Average (DJI) was up more than 300 points at its morning peak, but has since pared its gains to trade about 100 points higher. Stocks started out strong, with traders hopeful about the ongoing trade talks between the U.S. and China, but have lost steam as bank stocks like JPMorgan Chase (JPM) and Wells Fargo (WFC) drop on negative analyst...Read More
Gold-backed exchange-traded funds ended 2018 with new inflows globally as uncertainty about Britain's exit from the EU drove investors to the perceived safety of European-backed ETFs, more than offsetting outflows in North America resulting from a strong U.S. dollar.Gold-backed exchange-traded funds (ETFs) worldwide registered net inflows of $3.4 billion, a 3 percent annual rise and increased by 6...Read More
Every year, I list my top 10 gold stock picks for the upcoming year for marketplace subscribers.I think these picks will outperform peers, and I use the VanEck gold miners index as a benchmark index.Here's how I make my selections and a few picks for readers. GDX data by YCharts It's time again for my annual list of the top gold stocks for the upcoming year. If you are unfamiliar with these ar...Read More
An overdue round of bull notes could create tailwinds for PGProcter & Gamble Co (NYSE:PG) has rallied more than 30% since its mid-2018 low of $70.73, and touched a record high of $96.89 in mid-December, even as the broader equities market struggled. Since that high, the shares have pulled back to the $92 area, home of their early 2017 highs and 2017 close. We believe the stock's current breather p...Read More
The chipmaker's new self-driving platform will go into production by next yearThe shares of Nvidia Corporation (NASDAQ: NVDA) moved higher out of the gate today, after the company announced that its new self-driving platform, Drive AutoPilot, will go into production by 2020. The chipmaker said the platform has already been optioned by a pair of German auto suppliers. However, NVDA stock has since...Read More
Morgan Stanley, meanwhile, tapped JPM as a top pick for 2019JPMorgan Chase & Co. (NYSE:JPM) is in the spotlight today, after the big-cap financial firm received a bevy of brokerage notes. Citing a potential slowdown in Fed rate hikes and increasing fears of a recession, Jefferies downgraded JPM stock to "hold" from "buy," and lowered its price target to $110 from $130 -- a 9.2% premium to last nig...Read More