Editor’s Note: Related Tickers: Barrick Gold Corporation (USA) (NYSE:ABX), Goldcorp Inc. (USA) (NYSE:GG), Newmont Mining Corp (NYSE:NEM), Yamana Gold Inc. (USA) (NYSE:AUY), Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX), Plains Exploration & Production Company (NYSE:PXP), Mcmoran Exploration Co (NYSE:MMR), BB&T Corporation (NYSE:BBT), Deutsche Bank AG (USA) (NYSE:DB), Citigroup Inc. (NYSE:C)
Barrick Gold Struggling But Timing May Be Right For Shares (SmallCap Network)
Barrick Gold (ABX) has seen better days. The price for gold is going south. The company’s operations are in a state of flux with new leadership at the top. And the hits keep on coming. On Friday, shares fell 9% after a Chilean court-ordered halt to construction of Barrick Gold Corporation (USA) (NYSE:ABX)’s $8 billion Pascua-Lama mine in the Andes. To make matters worse, Barrick also faces environmental resistance in Argentina, which shares the Pascua-Lama mine project. Also, the Dominican Republic’s government is insisting on rewriting the royalty contract for its $4 billion Pueblo Viejo mine.
In trading on Monday, shares of Goldcorp Inc. (USA) (NYSE:GG) entered into oversold territory, changing hands as low as $27.20 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. In the case of Goldcorp Inc, the RSI reading has hit 25.2 — by comparison, the universe of metals and mining stocks covered by Metals Channel currently has an average RSI of 34.8, the RSI of Spot Gold is at 17.4, and the RSI of Spot Silver is presently 17.2.
Newmont Mining PT Lowered to $55.00 (NEM) (The Utah People’s Post)
Equities researchers at BMO Capital Markets dropped their target price on shares of Newmont Mining Corp (NYSE:NEM) from $65.00 to $55.00 in a report issued on Monday, AnalystRatings.Net reports. The firm currently has an “outperform” rating on the stock. Shares of Newmont Mining traded down 5.80% during mid-day trading on Monday, hitting $34.26. Newmont Mining has a one year low of $36.35 and a one year high of $57.93. The stock’s 50-day moving average is currently $40.01. The company has a market cap of $17.018 billion and a P/E ratio of 10.02.
Gold Stock Price Update for Today, April 17 (MarketsNTrade)
Yamana Gold Inc. (USA) (NYSE:AUY) is currently trading at $11.65. AUY’s RSI is currently at 26.48 which indicates that the stock is oversold. AUY is trading -21.16% below its 50 day moving average and -29.62% below its 200 day moving average. AUY is -42.97% below its 52-week high and 0.78% above its 52-week low. AUY’s PE ratio is 20.09 and their market cap is $8.76B. Yamana Gold Inc. is a Canadian-based gold producer with significant gold production, gold development stage properties, exploration properties and land positions in Brazil, Chile, Argentina, Mexico and Colombia.
Will Freeport-McMoRan Tank in 2013? (Wall St. Cheat Sheet)
Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) has made some big bets in regards to acquisitions. These big bets focused on oil and natural gas, and they included the acquisitions of Plains Exploration & Production Company (NYSE:PXP) as well as Mcmoran Exploration Co (NYSE:MMR). For the most part, investors haven’t been fond of these moves. They feel that these acquisitions spread the company too thin. Freeport-McMoRan has stated that these decisions were…
