Canadian stocks rose, erasing earlier losses of as much as 0.3 percent to clinch a fifth week of gains, as a surge in Valeant Pharmaceuticals International Inc. (VRX) offset a slump in oil and gold producers.
Valeant jumped 13 percent to an 11-year high after a person familiar with negotiations said Canada�� largest drugmaker might pay $9 billion to buy Bausch & Lomb. Manitoba Telecom Services Inc. surged 5.7 percent after agreeing to sell its Allstream unit to a firm co-founded by Egyptian billionaire Naguib Sawiris. Encana Corp. fell 0.7 percent as oil capped its biggest weekly decline in more than a month. Banro Corp. and OceanaGold Corp. slid more than 3.9 percent as gold retreated.
The Standard & Poor��/TSX Composite Index (SPTSX) rose 9.13 points, or 0.1 percent, to 12,667.22 at 4 p.m. in Toronto. The benchmark equity gauge�� 0.4 percent gain in the past five days gave it the longest streak of weekly advances since February 2012.
��he S&P/TSX has been pretty quiet while other markets have been swinging a lot,��said Stephen Gauthier, chief investment officer with Fin-XO Securities Inc. in Montreal. The firm manages C$500 million ($484 million). ��ommodities are falling. We��e seeing oil is down, as is gold. The U.S. economy has been doing pretty well, so it�� providing a bit of a floor to markets.��
5 Best Casino Stocks To Watch For 2015: Australian Dollar(AU)
AngloGold Ashanti Limited primarily engages in the exploration and production of gold. It also produces silver, uranium oxide, and sulfuric acid. The company conducts gold-mining operations in South Africa; continental Africa, including Ghana, Guinea, Mali, Namibia, and Tanzania; Australia; and the Americas, which include Argentina, Brazil, and the United States. It also has mining or exploration operations in the Democratic Republic of the Congo, Guinea, and Colombia. As of December 31, 2010, the company had proved and probable gold reserves of 71.2 million ounces. The company has a strategic alliance with Thani Dubai Mining Limited to explore, develop, and operate mines across the Middle East and parts of North Africa. AngloGold Ashanti Limited, formerly known as Vaal Reefs Exploration and Mining Company Limited, was founded in 1944 and is headquartered in Johannesburg, South Africa.
Advisors' Opinion:- [By Sally Jones]
Anglogold Ashanti Limited (AU)
Down 65% over 12 months, Anglogold Ashanti Limited has a market cap of $4.85 billion, and trades with a P/E of 8.10.
- [By Mark Hulbert]
If you prefer the shares of individual gold-mining companies, Freeport-McMoRan Copper & Gold (FCX) �is currently the one most recommended by the Hulbert Financial Digest-monitored advisers who have beaten the S&P 500 over the past 15 years. Also popular are Agnico Eagle Mines (AEM) , Barrick Gold (ABX) , AngloGold Ashanti (AU) �and Newmont Mining (NEM) .
- [By Dan Caplinger]
But even bigger damage came from gold-mining stocks. AngloGold Ashanti (NYSE: AU ) has lost almost 60% of its value in 2013, with the drop in gold prices having an outsized impact on the gold miner's prospects. AngloGold has also suffered from investors moving away from emerging markets like South Africa in favor of U.S. stocks, as fears of the Federal Reserve's exit from its quantitative easing program have reduced overall risk tolerance among many investors.
- [By Dan Caplinger]
We've seen the flip side of that trend play out in recent years, as rock-bottom interest rates in the U.S. have encouraged investment in higher-yielding income investments in places like Australia, Brazil, and South Africa. Interest from foreign investors got to be so extensive in Brazil that the federal government imposed a tax on foreign investors in bonds in order to curb demand and slow the pace of the Brazilian real's appreciation. Exchange-rate issues also likely played a role in the health of the commodities markets, as mining giants BHP Billiton (NYSE: BHP ) and Rio Tinto (NYSE: RIO ) in Australia benefited from increased demand largely for base metals. Similarly, South African gold miners AngloGold Ashanti (NYSE: AU ) and Gold Fields (NYSE: GFI ) outperformed rivals from elsewhere in the world, benefiting from strength in the South African rand currency.
Hot Gold Stocks To Buy Right Now: Sibanye Gold Ltd (SBGL)
Sibanye Gold Limited (Sibanye Gold), formerly GFI Mining South Africa (Pty) Limited, incorporated on December 12, 2002, is a producer of gold in South Africa. Sibanye Gold is primarily engaged in underground and surface gold mining and related activities, including extraction, and processing. Sibanye Gold�� operations are located in South Africa. Its principal mining operations include Kloof-Driefontein Complex (KDC) and Beatrix. Exploration activities are focused on the extension of existing ore bodies and identification of new ore bodies at existing sites. As of January 10, 2013, Sibanye Gold mined only gold, with silver as a by-product.
KDC Operation
The KDC mine is located in the Gauteng Province of South Africa in the Far West Rand mining district, some 60 kilometers southwest of Johannesburg. KDC consists of the Driefontein and Kloof mines. As of January 10, 2013, KDC is consisted of 13 producing shaft systems that mine different contributions from pillars and open ground and five gold plants of which two process mainly underground ore and three process mainly surface material. Driefontein is situated some 70 kilometers west of Johannesburg. Kloof is situated in the Magisterial District of Westonaria, some 60 kilometers west of Johannesburg.
Beatrix Operation
The Beatrix operation is located in the Free State Province of South Africa, some 240 kilometers southwest of Johannesburg, near Welkom and Virginia, and consists of the Beatrix mine. Beatrix operates under mining rights covering a total area of approximately 16 800 hectares. As of January 10, 2013, Beatrix had four shaft systems, with five ventilation shafts to provide additional up-cast and down-cast ventilation capacity and is serviced by two metallurgical plants. It is a shallow to intermediate-depth mining operation, at depths between 700 meters and 2 200 meters below surface. The mine has a refrigeration and cooling infrastructure in both its North and West Sections. Beatrix is man! aged as three operational sections: the North Section (consists of Shaft No. 3), the South Section (consists of Shaft No. 2 and Shaft No. 1) and the West Section (consists of Shaft No. 4).
Advisors' Opinion:- [By Lisa Levin]
Gold: This industry jumped 1.20% by 11:40 am. The top performer in this industry was Sibanye Gold (NYSE: SBGL), which rose 3.2%. Gold futures gained 0.44% to trade at $1,281.00 an ounce.
Hot Gold Stocks To Buy Right Now: First Majestic Silver Corp.(AG)
First Majestic Silver Corp. engages in the production, development, exploration, and acquisition of mineral properties with a focus on silver in Mexico. The company owns interests in La Encantada Silver Mine comprising 4,076 hectares of mining rights and 1,343 hectares of surface land located in Coahuila; La Parrilla Silver Mine consisting of mining concessions covering an area of 69,867 hectares; and San Martin Silver Mine comprising approximately 7,841 hectares of mineral rights and approximately 1,300 hectares of surface land rights located in Jalisco. It also holds interests in Del Toro Silver Mine consisting of 393 contiguous hectares of mining claims and an additional 129 hectares of surface rights located in Zacatecas; Real de Catorce Silver Project comprising 22 mining concessions covering 6,327 hectares located in San Luis Potosi state; and Jalisco Group of Properties consisting of mining claims totalling 5,240 hectares located in Jalisco. The company was founded in 1979 and is headquartered in Vancouver, Canada.
Advisors' Opinion:- [By Doug Ehrman]
While many precious-metals companies have been in a slump of late, there is one that belongs perpetually in your portfolio: Silver Wheaton (NYSE: SLW ) . The company is not like other miners -- including Pan American Silver (NASDAQ: PAAS ) and First Majestic (NYSE: AG ) -- in that it has a unique business plan that insulates it against many of the vagaries of the mining business. Moreover, because silver will always have a significant industrial demand component, even with the heightened volatility you see in the silver market, maintaining exposure to silver is appropriate.
- [By Lisa Levin] Related AG Morning Market Losers First Majestic Silver (AG) in Focus: Stock Rises 5.9% - Tale of the Tape Related ARCI Top 4 Stocks In The Electronics Stores Industry With The Highest ROE Morning Market Movers
The Dow jumped 0.77% to 17,074.40, while the NASDAQ composite index rose 0.47% to 4,436.25. The broader Standard & Poor's 500 index gained 0.53% to 1,978.08.
- [By Doug Ehrman]
It is no secret that precious metals companies have been taking a pounding for some time now. The SPDR Gold Trust (NYSEMKT: GLD ) and iShares Silver Trust (NYSEMKT: SLV ) , the gold and silver ETFs, have been hard hit and operating companies like First Majestic (NYSE: AG ) and Barrick Gold (NYSE: ABX ) have been hit even harder. Through all of these struggles, and in some cases because of them, one precious metals company continues to look attractive for the long term: Silver Wheaton (NYSE: SLW ) .
Hot Gold Stocks To Buy Right Now: Golden Star Resources Ltd(GSS)
Golden Star Resources Ltd., a gold mining and exploration company, through its subsidiaries, engages in the acquisition, exploration, development, and production of gold properties. It owns and operates the Bogoso/Prestea gold mining and processing operation that covers approximately 40 kilometers of strike along the southwest-trending Ashanti gold district in western Ghana; and the Wassa open-pit gold mine located to the east of Bogoso/Prestea in southwest Ghana. The company also has an 81% interest in the Prestea underground gold mine located in Ghana. In addition, it holds interests in various gold exploration projects in Ghana, Sierra Leone, Burkina Faso, Niger, and Cote d?Ivoire, as well as holds and manages exploration properties in Brazil in South America. The company was founded in 1984 and is based in Littleton, Colorado.
Advisors' Opinion:- [By Rich Duprey]
Clash of the titans
When bears are raging on the gold bullion market, it's not surprising to see gold stocks getting mauled as well. Golden Star Resources (NYSEMKT: GSS ) was the biggest loser in the sector, losing a quarter of its market cap on no company-specific news, though a report last Friday indicated that a large number of hedge funds had recently dumped their positions in the mid-tier miner. Yet it wasn't all that much better among the majors, either, as Barrick Gold (NYSE: ABX ) fell almost 13% and Kinross Gold (NYSE: KGC ) was down 14%.
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