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Metal and Mining Stocks: Past Week Performance

NEW YORK ( TheStreet) -- Brigus Gold (BRD), Coeur d'Alene Mines (CDE - Get Report) and Goldcorp (GG - Get Report) climbed last week, while James River Coal (JRCC), Mines Management (MGN) and Silver Standard Resources (SSRI) eroded considerable value.

Brigus Gold emerged top gainer last week, jumping 11.5% after it was known that the company drilled more solid gold-mineralized intercepts near its Black Fox mine in Ontario. The strong gold grades from multiple drill holes attracted investors as they anticipate completion of the first resource estimate for the 147 zone, which is not far from Brigus' Black Fox gold mine, and this could further boost production there. The company is planning to have a 147-resource estimate in December.

Coeur d'Alene Mines gained 7.9% after an upgrade to buy from hold by TheStreet Ratings this past week. Goldcorp was up 4.4% after declaring its 11th monthly dividend payment of $0.034 per share for 2011. The dividend is payable Nov. 25, 2011.

Agnico-Eagle Mines (AEM) added 3.8% after Dahlman Rose upgraded the stock to buy from hold. The stock has a price target of $50.01, assigned on Nov. 3.

Yanzhou Coal Mining (YZC) advanced 3.7% last week as many Chinese energy companies traded higher on speculation that Beijing would resort to measures to cool down inflation and improve export growth.

Barrick Gold (ABX) piled 3.4% at close last week. AngloGold Ashanti (AU) moved up 3.4%, after reporting favorable third-quarter results. The company recorded adjusted headline earnings of $457 million or 118 cents per share for the third quarter of 2011, indicating 51% increase year-over-year. Cash inflow from operations more than doubled to $863 million from the year-ago quarter.

Compania de Minas Buenaventura (BVN) climbed 2.9%. Last week, the company went ex-dividend with shareholders eligible for a dividend of 22 cents per share.

Horsehead Holding (ZINC) and Southern Copper (SCCO) were up 2.9% and 2.8%, respectively. Southern Copper went ex-dividend on Nov. 14, 2011 with shareholders eligible for a dividend of 70 cents per share.

James River Coal was at the helm of losers last week, declining 19.2% after the company posted an unexpected loss of $3.7 million, or 11 cents per share in its third quarter 2011, compared to $9.2 million, or 33 cents profit per share, in the year-ago quarter. The loss was mainly due to higher input costs partially negating the surge in revenue and Central Appalachia coal shipments.

Mines Management followed erasing 19.1% at close last week. Silver Standard Resources decreased 17.1% after the company lowered the estimate for its Pirquitas Mineral Resources & Reserve. In addition, CIBC analysts have downgraded the stock's rating to sector perform from an earlier outperform. Further, UBS has narrowed its price target to $20.9 from $27.5 earlier.

Pan American Silver (PAAS) declined 10.8% after Raymond James downgraded the stock to outperform from its earlier strong buy. Meanwhile, Patriot Coal (PCX) dipped 10.5%.

Aluminum Corporation of China (ACH) fell 7.1% at close last week.

Majors like Peabody Energy (BTU - Get Report) and U.S. Steel (X - Get Report) dropped 7.2% and 6.4%, respectively.

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JRCC $0.00 0.00%
BRD $0.00 0.00%
CDE $2.82 12.80%
BTU $2.36 -29.76%
GG $15.00 2.95%


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