Gold Bulls Take a Breather

Stock quotes in this article: IAU , GLD , ABX , NEM , AEM , PAAS  

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...
  •  
1 2
Next >

SHARE:

  • email
  • print
  • comment
  • digg
  • delicious
  • linkedin

Recent Comments





Connect with TheStreet

Dow Jones S&P 500 NASDAQ 10-Year Note
10,388.90 1,105.98 2,194.35 34.83
Oil *
77.74
UP
22.75
UP
6.06
UP
21.21
UP
1.03
10 Yr
3.48%
SPDR Gold
113.75
+0.22%
+0.55%
+0.98%
+3.05%
Data delayed 20 minutes

Brokerage Partners

TheStreet Premium Services

All Services