This Day On The Street
Continue to site
ADVERTISEMENT
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) -- Walter Energy (WLT - Get Report), Yanzhou Coal Mining (YZC) and Mines Management (MGN) posted strong gains last week, while Alumina (AWC) and Gold Reserve (GRZ) lost ground.

Walter Energy emerged as the top gainer last week, jumping 26.7%.

The stock rallied during the past week on speculation of a takeover bid from Anglo American (AAUK) and BHP Billiton (BHP), U.K's Independent reported.

Furthermore, the newspaper added that Brazil's Vale (VALE - Get Report) and Cia. Siderurgica Nacional SA may also bid for the company. Vale added 8.8% at close last week.

Yanzhou Coal Mining surged 24.7% at the end of past week.

A Hong Kong-based analyst at UOB-Kay Hian said China's coal prices are likely to rise during the current quarter as inventories at loading stations on the Daqi Railway are extremely low or absent. Daqi accounts for one-third of the country's coal deliveries by rail. Mines Management followed with a 21.5% increase.

Coal producers Patriot Coal (PCX) and James River Coal (JRCC - Get Report) rose 20.1% and 20.0%, respectively, last week. During the past week, insiders of JRCC sold almost 1 million shares, or 2.9%, of the total outstanding shares of the company.

Golden Star Resources (GSS) and Mechel OAO (MTL) increased 19.6% and 19%, respectively, last week.

For the first half of 2011, Mechel recorded a 47.9% increase in its revenue from external customers while net income surged to $501.02 million from $120.82 million in the year-ago period.

Alpha Natural Resources (ANR) and Cliffs Natural Resources (CLF) jumped 17.7% and 16.7%, respectively.

Consol Energy (CNX) gained 15% after the company announced that its natural gas division produced a record 40.4 Bcf in its third quarter, almost a 13% increase from the year ago period.

ArcelorMittal (MT) rose 14.9% after the company's ADRs were upgraded to buy from hold by Dahlman Rose research analysts with a price target of $34. That target implies 70.2% upside from current levels.

Endeavour Silver (EXK) was up 14.3% last week after the company announced that third quarter 2011 production continues to increase.

Silver production for the third quarter 2011 was up 8% to 858,738 ounces while gold production increased 7% to 4,926 ounces from the third quarter of 2010. Also, the company said revenue soared 93% to $38.8 million, led by 120% and 35% increases, respectively, in realized silver and gold prices.

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!
SYM TRADE IT LAST %CHG
JRCC $0.00 0.00%
BHP $46.44 0.00%
RIO $42.02 0.00%
WLT $0.62 0.00%
VALE $5.87 0.00%

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs