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Metal and Mining Stocks: Winners and Losers

NEW YORK ( TheStreet) -- Gold Reserve (GRZ) and Great Northern Iron Ore Properties (GNI) were the only stocks to end in green this past week. The laggards were Mines Management (MGN - Get Report), Alpha Natural Resources (ANR - Get Report) and AK Steel Holding (AKS - Get Report).

Gold Reserve topped the advancers' list last week, up 3.7%. Great Northern Iron Ore Properties followed advancing 0.1%.

Mines Management shed 18.1%, at the helm of losers this past week. With China's November manufacturing PMI easing to a 32-month low of 48 from 51 recorded in October, cement and coal companies faced a pushback. A chief economist at HSBC China indicated that this would lead to an 11% to 12% contraction in industrial output over the next few months.

Coal stocks Alpha Natural Resources and James River Coal (JRCC - Get Report) declined 17.7% and 14.1%, respectively. Zacks Investment Research has downgraded JRCC to underperform from the earlier neutral rating. Meanwhile, Australian thermal coal prices, benchmark for Asia, slipped to $110.85 per ton from $113.6 per ton on the Newcastle Coal Spot Australia Index in the earlier week. Additionally, market speculation that Beijing would intervene to cap spot coal prices at $125 per ton has affected coal stocks adversely.

AK Steel Holding plummeted 17.3% last week. Among others, Patriot Coal (PCX) and Westmoreland Coal (WLB) slumped 13.8% each. After a rating downgrade to underperform from neutral at Zacks Investment Research, Arch Coal (ACI) trimmed 8.5% at close last week.

U.S. Gold (UXG) dipped 13.7% after gold prices crashed midweek on flagging China economic data. Gold prices were down 0.6% between Nov. 24 and Nov. 25.

Steel stocks ArcelorMittal (MT) and U.S. Steel (X) lost 13.5% and 13.2%, respectively at close last week. Iron ore spot prices are on a downtrend as key consumer China is likely to face a squeeze down in its appetite. Additionally, JP Morgan Chase has lowered its iron ore price forecasts by 10% to 15% for the next five years, in light of shrinking demand.

Vale (VALE) tumbled 11.8% after JP Morgan cut its forecasts for iron ore prices.

Weak industry fundamentals and the overall slump in the metal and mining sector triggered a slide in industry majors Peabody Energy (BTU), Rio Tinto (RIO) and BHP Billiton (BHP), down 10.7%, 10.5% and 8.2%, respectively .

Silver prices slipped 1.1% to $31.26 per ounce at close this past week. Stocks like MAG Silver (MVG) and Endeavour Silver (EXK) dipped 10.4% and 8.9%, respectively.

Aluminum prices plummeted 3% last week to 52-week lows of $1,981.75 per metric ton. Aluminum stocks like Alumina (AWC), Kaiser Aluminum (KALU) and Aluminum Corporation of China (ACH) erased 13%, 9% and 7.2%, respectively.

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JRCC $0.00 0.00%
GRZ $2.91 0.00%
AKS $4.42 2.80%
ANR $0.97 5.10%
GNI $10.45 2.50%


DOW 17,678.23 -40.31 -0.23%
S&P 500 2,056.15 -4.90 -0.24%
NASDAQ 4,863.3620 -13.1570 -0.27%

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