The company said it reduced its fixed-price sales position, or hedge book, by 1 million ounces during the quarter, bringing the total reduction of such contracts for the year to more than 9 million ounces. The news will be greeted warmly by the bulls, with Barrick earnings benefiting more from bullion price rallies. Still, shares of Barrick slipped 2%.
Agnico-Eagle Mines(AEM Quote) reported diluted fourth-quarter earnings of 34 cents a share, besting analyst estimates of 32 cents and up from 13 cents a year earlier. Pan-American Silver(PAAS Quote) reported fully diluted fourth-quarter earnings of 38 cents a share, reversing losses of 44 cents a year earlier. Consensus estimates were for 26 cents. The stock was barely changed. Turning to base metals, copper prices were lifting again on the Comex, closing up 12 cents at $2.78 a pound. "We think that the [copper] market is rebalancing in February and will be in deficit from March-June, partly for seasonal reasons," states London-based specialty firm Bloomsbury Minerals Economics in a new report.- Loading Comments...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,226.94 | 1,093.07 | 2,154.06 | 34.86 |
Oil *
77.65
|
|
UP
203.52
|
UP
23.77
|
UP
41.62
|
DOWN
0.17
|
10 Yr
3.49%
SPDR Gold
108.19
|
|
+2.03%
|
+2.22%
|
+1.97%
|
-0.49%
|
Data delayed 20 minutes |














