NEW YORK ( TheStreet) -- Mines Management (MGN), Alliance Holdings GP (AHGP) and Gold Reserve (GRZ) wrapped up on a positive note last week, while Ternium (TX), Mechel (MTL) and Alpha Natural Resources (ANR) showed weakness.
Mines Management topped the advancers' list last week, up 6.3%. Alliance Holdings GP followed increasing 2.1%.
Gold Reserve shed 1.1% after it was known that the Toronto Stock Exchange is considering suspending the stock's trading. Further, the NYSE Amex LLC stock exchange has sent a delisting notice to the company.
Walter Energy (WLT) gained a modest 0.2% after a research report by Paragon revealed that the coal market is set for robust growth, buoyed by infrastructure development in the emerging markets.Ternium was at the helm of losers, plunging 20.3% at close last week. Mechel followed declining 18.5% after the company recorded a 4% drop in its first nine-month run-of-mine coal production to 19.81 million metric tons. Alpha Natural Resources eroded 15.8% last week, while another coal producer Patriot Coal (PCX) relinquished 14.1%. Stillwater Mining (SWC) dipped 13.8% at close last week. New Gold (NGD) dropped 13.5% after Zacks Investment Research downgraded the stock's rating to neutral from outperform last week. James River Coal (JRCC) tumbled 12.7%, after Deutsche Bank cut its price target on the stock from $12 to $10.5. However, the bank maintains its hold rating on JRCC. At close last week, North American Palladium (PAL) lost 12.7%. Aluminum Corporation of China (ACH) declined 12.5% after Mizuho Securities downgraded the stock's rating to underperform from the earlier buy rating. Arch Coal (ACI) shed 12.3% last week. Among others, Peabody Energy (BTU) and Consol Energy (CNX) erased 10.8% each. Gold companies U.S. Gold (UXG), Brigus Gold (BRD) and Kinross Gold (KGC) wiped out 10.5%, 10.3% and 10%, respectively at close this past week. Gold prices slipped 3.2% to close at $1723.95 per ounce on easing U.S. consumer prices and the eurozone debt contagion. Moreover, Brigus Gold reported 2011 third quarter revenue of $19.3 million, down 18.6% from the year-ago quarter. ArcelorMittal (MT) lost 9.8% after it was known that steel production at the company's Ukrainian unit declined by 5.9% to 529,900 metric tons in October compared to the same month a year ago. For the first ten months of the year, steel production declined to 4.6 million tons from 5.09 million tons in the same period last year.
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