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Metals and Mining: Winners and Losers

Among other winners, Metalico (MEA), Carpenter Technology (CRS), and Cliffs Natural Resources (CLF) rose around 5.1%, 4.5%, and 2.4%, respectively.

Among losers, International Coal Group plunged 17.2% from its 52-week highs of $8.46 recorded on Dec. 10 to $7 on Friday. On Tuesday, the stock closed 13.1% lower, following a late-Monday announcement that the company plans to sell around 35 million shares. An upgrade of the stock to buy from hold at Brean Murray did not lead to any gains in the stock on Wednesday. The stock didn't respond either to the news that Massey Energy (MEE) is considering a takeover of International Coal.

Meanwhile, Great Northern Iron Ore Properties and Cloud Peak Energy (CLD) plunged on profit-booking after the stocks reached respective 52-week highs last week. On Thursday, Rio Tinto (RIO) announced the sale of its remaining stake in Cloud Peak Energy, estimated to raise around $500 million.

Other coal stocks, Penn Virginia Resource Partners (PVR), Patriot Coal (PCX), and Natural Resource Partners (NRP) dropped around 5.9%, 5.5%, and 4.2%, respectively.

Gold and silver for spot delivery on the New York Mercantile Exchange declined around 0.6% and 0.7%, respectively, weighing on the respective stocks. Gold giants Barrick Gold (ABX), Goldcorp (GG), and Newmont Mining (NEM) dipped around 3.1%, 3.5%, and 3.3%, respectively.

Among other gold producers, Agnico-Eagle Mines (AEM), Gold Reserve (GRZ), New Gold (NGD), U.S. Gold (UXG), Randgold Resources (GOLD), and Tanzanian Royalty Exploration (TRE) declined around 8.8%, 3.5%, 3.4%, 3.2%, 2.6%, and 2.5%, respectively. Most of these stocks touched respective 52-week highs in the penultimate week.

Silver Standard Resources (SSRI), Compania de Minas Buenaventura's (BVN), and Silver Wheaton (SLW) led the pack of silver decliners, down 6.2%, 5.2%, and 4.7%, respectively.

This commentary comes from an independent investor or market observer as part of TheStreet guest contributor program. The views expressed are those of the author and do not necessarily represent the views of TheStreet or its management.
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