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

Metals and Mining: Winners and Losers

NEW YORK ( TheStreet) -- Solitario Exploration & Royalty (XPL - Get Report), Mines Management (MGN - Get Report) and Silver Wheaton (SLW - Get Report) were major gainers last week; Rio Tinto (RIO), Southern Copper (SCCO) and Teck Resources (TCK) declined sharply.

Solitario Exploration & Royalty was the top gainer, with a 26.1% increase, as gold prices surged 3.7% to a new record high of $1,563.7 per ounce. Other gold gainers in the list include Gold Fields (GFI), Barrick Gold (ABX), Randgold Resources (GOLD) and IAMGOLD (IAG) increasing 9.2%, 8.2%, 6.3% and 5.7% respectively during the past week.

Mines Management reversed its losses and gained 15.7% during the past week. Last week, spot silver prices rose 2.1% touching 52-week high of $48.44 per ounce. Also NASDAQ touched its 10-year high while both gold and silver price levels broke the record levels. Merrill Lynch reports an expected silver cycle boom in the upcoming few months. Additionally, Silver Wheaton also gained 14.5% last week.

Compania de Minas Buenaventura (Buenaventura) (BVN - Get Report), specialty metals producer in gold, silver and other precious metals, added 12%. The company reported its first quarter 2011 results with a 40% rise in its profits and earnings per share of 84 cents per share. Furthermore, silver output rose 18% to 3.53 million ounces.

An emerging silver producer, Alexco Resource (AXU - Get Report) gained 11.8%. Other silver gainers include Pan American Silver (PAAS), MAG Silver (MVG), Endeavour Silver (EXK) and Silver Standard Resources (SSRI) adding 11.2%, 9.9%, 8.1% and 8% respectively at the end of the past week.

Steel producers also gained during the past week -- AK Steel Holding (AKS) and Carpenter Technology Resources (CRS) raised their stock value by 8% and 7.5% respectively. AKS reported its first quarter results with its revenue up by 12.5% year on year basis to $1.58 billion. Also there is an improvement $174 million in the operating income as compared to the last quarter of 2010. Meanwhile, CRS reported its third quarter results with an increase in its net income to $28.6 million, or 64 cents per share, as compared to $2.1 million, or 5 cents per share, a year ago.

Other movers of steel specialty such as Steel Dynamics (STLD) and Schnitzer Steel Industries (SCHN) gained 7.4% and 5.7% respectively. Last week, the World Steel Association said that global steel consumption would hit a record 1.44 billion tonnes in 2012, driven by overall global economic recovery.

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
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
AXU $0.42 11.00%
BVN $11.47 2.90%
CLF $6.09 1.00%
MGN $0.52 -1.84%
SLW $20.22 5.50%


DOW 18,051.88 -28.26 -0.16%
S&P 500 2,114.39 -3.30 -0.16%
NASDAQ 5,073.7190 -18.3660 -0.36%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs