NEW YORK ( TheStreet) -- Mines Management (MGN), Great Northern Iron Ore Properties (GNI) and New Gold (NGD - Get Report) headed the gainers' list last week, while Alpha Natural Resources (ANR - Get Report), International Coal (ICO), and Walter Energy (WLT) were the top losers last week.
Mines Management was the top advancer last week, gaining around 20.2% after filing a technical report in support of the Preliminary Economic Assessment for its Montanore Silver-Copper project in Montana.
New Gold posted an 11.6% increase, after reporting highest gold production and lowest cash cost in its history during 2010. For the full-year, gold production stood at 381,911 ounces, beating the company's guidance of 330,000-360,000 ounces. Meanwhile, annual cash cost per ounce, net of by-product sales, came in at $428 per ounce, lower than its 2010 guidance of $430 to $450 per ounce. BMO raised its rating on New Gold to outperform from market perform and Cormark securities upgraded the stock to buy from market perform last week.
(SWC - Get Report)
North American Palladium
Platinum Group Metals
were up 11.5%, 9.8% and 6.7%, respectively, as platinum and palladium for COMEX spot delivery gained nearly 3.0% and 0.4%, respectively,.
piled 10.2% after Troika upgraded the stock to buy from hold on higher coal prices. In the penultimate week, Goldman Sachs raised its price target on Mechel to $40 from $34.7.
Silver stocks dominated the advancers' list as the white metal COMEX spot delivery rose 4.3% last week. Other movers
(SLW - Get Report)
Compania de Minas Buenaventura
posted 9.5%, 8.0%, 7.5%, 6.4% and 5.7% gains, respectively.
advanced 9.0% during the week after announcement of its acquisition by Alpha Natural Resources. Massey reported fourth quarter revenue of $730 million during the week vs. consensus $723.7 million, while earnings per share plunged 69 cents vs. consensus 31 cents on margin declines.
rose 8.1%. During the week, the company announced that its Jansen, Saskatchewan greenfield project progressed to the feasibility stage. In a separate news, the company announced plans to invest $200 million to expand Spence Copper mine in Northern Chile.
Freeport-McMoRan Copper & Gold
(FCX - Get Report)
were up 8.0% and 6.9%, respectively, backed by a 5.4% increase in LME copper prices for spot delivery. In addition, UBS has upgraded Teck Resources to buy from neutral.