This Day On The Street
Continue to site right-arrow
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
TheStreet Open House

Metal & Mining Stocks: Past Week Review

NEW YORK ( TheStreet) - Mines Management (MGN - Get Report), ArcelorMittal (MT - Get Report) and Worthington Industries (WOR - Get Report) were among the few gainers at close last week. Among the laggards, Horsehead Holding (ZINC - Get Report), Alpha Natural Resources (ANR - Get Report) and Silver Standard Resources (SSRI - Get Report) lost substantial ground.

Mines Management gained 14.8% last week after the company announced that its Montanore mine project is one step closer to production with the Supplemental Draft Environmental Impact Statement reaching the final phase of approval. The U.S. Forest Service has completed an SDEIS for the Montanore Project.

Meanwhile, ArcelorMittal rose 3.6% after forecasting higher EBITDA for the second half of the year compared to the same period in 2010. The steel giant sees EBITDA in the range of $2.4 billion to $2.8 billion. Also, ArcelorMittal Temirtau in Kazakhstan estimates crude steel production to rise 15.2% in 2011, driven by increased demand from the export market.

Worthington Industries added 3.2% after the company bought the assets of STAKO, a Poland-based maker of propane tanks for the auto industry. This acquisition will be added to Worthington's pressure cylinders division in order to expand its offering for alternative-fuel vehicles.

Ternium (TX - Get Report) rose 3.1% after Goldman Sachs upgraded the stock to buy from neutral with a price target of $31.5, indicating a 51.2% rise from current levels. Among others, Alumina (AWC) and Metalico (MEA - Get Report) jumped 2.7% and 1.8%, respectively. On Sep. 23, Walter Barandiaran, a director on Metalico's board, bought 100,000 shares at $3.88, signaling a strong buy for investors.

Gold producers Golden Star Resources (GSS - Get Report) and Barrick Gold (ABX - Get Report) edged up 0.5% each, while Randgold Resources (GOLD - Get Report) increased 0.3%.

Among the losers, Horsehead Holding was at the top, slumping 14.8%, while Alpha Natural Resources erased 13.2%. Meanwhile, Silver Standard Resources shed 12.4% at the close.

Cliffs Natural Resources (CLF - Get Report) plummeted 11.5%. During the week, the company said it is seeking a buyer for its biomass energy subsidiary renewaFUEL. Moreover, Cliffs would be taking a $30 million pre-tax charge to its third-quarter earnings so as to idle operations at renewaFUEL.

Gold companies New Gold (NGD - Get Report) and U.S. Gold (UXG) slumped 11.7% and 11.1%, respectively. Royal Gold (RGLD - Get Report) dropped 10.3%. Industry analysts comment that October is likely to be gold's worst month, based on historical data. Over the last three decades, the London PM Fixing Price in dollar terms has lost an average 0.9% during October as compared to a 0.6% gain during the other months. Meanwhile, gold prices edged down 0.15%, to $1,623.97 per ounce.

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!
AWC $4.20 0.48%
ZINC $12.86 0.00%
ACH $12.17 0.00%
ABX $11.29 0.00%
ANR $0.98 0.00%


DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs