NEW YORK (TheStreet) - Gold Reserve (GRZ, Randgold Resources (GOLD - Get Report) and Royal Gold (RGLD - Get Report) were recipients of recent safe-haven flows, whereas Walter Energy (WLT, AK Steel Holding (AKS - Get Report) and Patriot Coal (PCX lost substantial ground.Gold Reserve led the pack of advancers, rising 5.04% as gold prices peaked to all-time highs of $1,700 per ounce. Others such as Royal Gold climbed 3.81%, led by rallying gold prices and after an industry analyst said the company is well positioned to negotiate its royalty deals successfully. Randgold Resources rose 4.04% over the week, riding on strong production and profit growth. For the second quarter of 2011, the company reported 33% quarter-over-quarter increase in production, surging 97% surge from the same quarter prior year. Profit for the quarter rose 180% to $128.4 million on a quarter-over-quarter basis and 253% against second quarter 2010 levels. Yamana Gold ( AUY - Get Report) piled 1.85% last week, after reporting strong quarterly results. For second quarter 2011, production increased 10% to 278,737 gold equivalent ounces over the year-ago quarter. Revenue soared 63% to $573.3 million for the same period, while net earnings grew 178% to $194.7 million, or 26 cents per share. Further, Yamana has declared third-quarter dividend of $0.045 per share payable Oct. 14, up 50% over the prior dividend. Agnico-Eagle Mines ( AEM - Get Report) rose 1.08%. Last week, an analyst from SeekingAlpha deemed the stock a long-term value at current levels, based on second-quarter revenue and net income estimates. Moreover, the company's mines recorded significant production growth. >> Keep the stock market at your fingertips with TheStreet's iPad app. Walter Energy was at the helm of losers, declining 40.2% after releasing disappointing second quarter earnings. BMO Capital Markets cut its price target on the stock to $125 from the earlier $150. The financial services provider expects the supply of premium metallurgical coal to remain stretched for the foreseeable future. Also in the losers' list was AK Steel Holding, plunging 24.9% after Moody's reviewed it for a possible downgrade. Moody's said it is reviewing whether to downgrade some of AK Steel Corporation's credit ratings, citing rising cost pressures and other challenges facing the company amid a slow recovery in the steel industry. Coal stocks were on a downtrend, tracking tepid quarterly earnings releases and declining energy prices, which indicate flagging demand in the near future. Besides, unfavorable economic news has also cautioned investors.
Among major coal companies, Patriot Coal and Alpha Natural Resources ( ANR plunged 24.9% and 24.3%, respectively. Similarly, Consol Energy ( CNX - Get Report) and James River Coal ( JRCC erased 22.4% and 21.2%, respectively. Arch Coal ( ACI dropped 16.8% after a downgrade. TheStreet Ratings downgraded ACI last week from buy to hold, citing unimpressive growth in net income, poor debt management and low profit margins. Westmoreland Coal ( WLB slumped 16.6% after reporting its second quarter 2011 results. For the quarter, the company's net loss increased to $7.7 million or 59 cents per share, compared to $0.9 million or 9 cents per share in the corresponding quarter prior year. Also, coal volumes sold plummeted by 1.7 million tons from the year-ago quarter reducing revenue by $15.5 million. Vale ( VALE - Get Report), the Brazilian mining giant, eroded 13.7% last week after a stock downgrade. Dahlman Rose cut its price target on the stock to $43 from $45 while maintaining a buy rating due to weaker-than-estimated second quarter 2011 results. For the quarter, Vale reported $9.1 billion of EBITDA, lower than its guided $12 billion in EBITDA and the Street's $11 billion. Majors stocks, Peabody Energy ( BTU - Get Report), ArcelorMittal ( MT - Get Report) and BHP Billiton ( BHP relinquished 18.4%, 18.1% and 13.6%, respectively.