Leading the advancers' list, Harmony Gold Mining gained 3.1% last week after the company discovered superior grade gold at its 50% owned Wafi-Golpu mine in Papua New Guinea.
Meanwhile, James River Coal advanced 2.9%. The company plans to acquire West Virginia-based coal producer International Resource Partners in order to expand its access to metallurgical coal.James River Coal will pay $475 million for International Resource Partners, which operates nine coal mines and has 136 million tons of coal reserves and resources. Aluminum Corporation of China and Great Northern Iron Ore Properties (GNI) rose 1.1% and 0.7%, respectively, last week. Meanwhile, steel producer and metals recycler Steel Dynamics (STLD) edged up 0.4% during the week. Steel Dynamics last week said it was raising its quarterly dividend by 33% to 10 cents per share, with a dividend yield of 2.2%. It also raised its first-quarter guidance for earnings per share to a range of 37 cents to 42 cents. The company added that demand for sheet and special bar quality steels in the U.S. market remains robust. Other metals and mining stocks recorded significant losses, however. Metalline Mining led the losers' pack and plummeted 17.9%. Stillwater Mining lost 14.1% last week. The company reported 2010 net income of $50.4 million, or 51 cents per share, compared with a net loss of $8.7 million in 2009. Revenue increased 40.9% to $555.9 million for the year. Cliffs Natural Resources declined 11.5% during the past week. The company expects iron ore prices to remain higher in the near term, primarily due to strong demand from China coupled with lack of new production capacity. Coal producer Patriot Coal (PCX) fell 11.3%.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV