This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Silver, Steel Stocks Outshine Other Metals

NEW YORK ( TheStreet) -- The following stocks have outperformed the S&P 500 Index, which lost 0.7%, and the S&P 500 Metals and Mining Index, which increased 0.7% during the past week.

Coeur d'Alene Mines (CDE - Get Report), one of the world's leading silver producer, increased 12.9% to $16.41. Subsequent to return of normalcy conditions after civic unrest at one of its silver mines, the company said that it continues to maintain its production guidance for 2010 at 6.5 million ounces of silver at an average cash operating cost of $8 per ounce. On Aug. 18, Deutsche Bank reassigned a hold rating to the stock with a target price of $18 representing a 9.7% upside.

Mag Silver (MVG), explorer of silver and gold properties, was up 10.4% after the company revealed that it has signed an agreement with Canadian based Canasil Resources in order to earn a 60% interest in a Mexico-based project. The company would pay $5 million in exploration expenses and $500,000 in cash over four years.

Silver Wheaton (SLW - Get Report), Silver Standard Resources (SSRI - Get Report) and Pan American Silver (PAAS - Get Report) were up 5.8%, 4.9% and 2.4% respectively outperforming the metal index.

United States Steel Corporation (X) rose 4.3% during the past week on high speculation that ArcelorMittal (MT) is seeking to purchase the company. However, industry analysts comment that such an acquisition is highly unlikely as ArcelorMittal would look out for raw material companies and not steelmaking operations company. On Aug. 20, Deutsche Bank reassigned a buy rating to the stock with a target price of $62 representing a 31.7%.

Similarly, other steel stocks like Schnitzer Steel Industries (SCHN) and AK Steel Holding (AKS) increased 5.6% and 3% respectively.

Stillwater Mining (SWC - Get Report), the sole producer of palladium and platinum in the U.S., soared 6.7% in the past week. The company recently commented that palladium prices are likely to touch its peak as demand from carmakers increase and Russian inventories of the metal decline. Moreover, car manufacturers prefer palladium over platinum due to lower prices. The company which is 51% owned by Norilsk Nickel has been in the news lately as the stake is under possible sale to a third party.

Horsehead Holding (ZINC - Get Report), producer of specialty zinc and zinc-based products, escalated 5.6% during the past week after the company swung to profit during the second quarter as compared to a loss a year ago. Net profit stood at $5.71 million as compared to loss of $9.3 million a year ago, while net sales increased to $98.54 million from $47.61 million earlier. On Aug. 17, Canaccord Genuity Corp reassigned a buy rating with a target price of $14 representing upside of 65.7%.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
ZINC $0.11 0.46%
CDE $8.10 0.00%
MVG $13.00 0.00%
PAAS $15.67 0.00%
SLW $20.95 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs