Posts for Ticker ‘AU’

Top Analyst Downgrades (AU, BP, CBST, GFI, SNN, STJ, TSM)

These are this Wednesday mornings top Wall Street analyst downgrades and cautious research calls we have seen early this morning:

Anglogold (AU) Cut to Neutral at Nomura.
BP plc (BP) Cut to Hold at RBS.
Cubist Pharmaceuticals (CBST) Cut to Neutral at RW Baird.
Gold Fields (GFI) Cut to Neutral at Nomura.
Smith & Nephew (SNN) Cut to Neutral at UBS.
St. Jude Medical (STJ) Cut to Hold at Canaccord.
Taiwan Semiconductor (TSM) Cut to Neutral at UBS.

You can join our open email distribution list which goes out several times per week for reminders of the top day trader alerts, analyst upgrades and downgrades, IPO’s, key secondary offerings, guru investor data on Buffett and others, mergers, and more.

JON C. OGG

Posted on: October 7, 2009 – 7:56 am in Analyst Calls, , , , , , ,

Gold Miners Digging Out? (ABX, AU, NEM, GDX, GLD)

Now that Barrick Gold Corp. (NYSE:ABX) has raised $4 billion or so to buy out its hedges, the company is set to enjoy an expected run-up in gold prices. In early trading today, Barrick shares were up about 1.5%, AngloGold Ashanti Ltd. (NYSE:AU) shares were up slightly, and Newmont Mining Corp. (NYSE:NEM) shares were up about 1%.

Share prices for these and other gold mining shares have been on the rise for the past few weeks. The Market Vectors Gold Miners ETF (NYSE:GDX) peaked at $48 a week ago, a new 52-week high. SPDR Gold Shares ETF (NYSE:GLD) also flirted with a new 52-week high today. Spot gold prices have been as high as $1,015/oz today, but are moving back down at just $1,001.79. Read More »

Posted on: September 24, 2009 – 11:13 am in Metals, , , , ,

Gold Trends Ahead of Miner Earnings (ABX, GG, GOLD, AU, GLD)

Gold ImageBen Bernanke thinks the risks of inflation may be overstated or those fearing major inflation may be misguided.  But that feeling is still not shared by many on Wall Street and also not shared by many on Main Street.  In fact, the recent return of gold prices off the $900 mark to almost $950 and the return of oil back close to $65.00 per barrel have many wondering if that higher Producer Pricing Index data from June could get a repeat either in July or in August.  Our guess is August rather than July, but there is still almost two trading weeks left in the month of July.  We have earnings coming from some majors in the next week and wanted to evaluate those trends for Barrick Gold (NYSE: ABX), Goldcorp (NYSE: GG) Randgold Resources Limited (NASDAQ: GOLD), and Anglogold Ashanti Limited (NYSE: AU).  The SPDR Gold Shares (NYSE: GLD) of course offer the most direct investment in bullion without the operational risks tied to individual companies.
Read More »

Posted on: July 22, 2009 – 9:05 am in Commodities, Earnings, Metals, , , , ,

Day Trader Alerts (IMMR, DROOY, GOLD, AU, AUY, SPPI, AMAG, UBS, CS, OSK, FRPT, NAV, MYGN)

We have provided links through on our day trading alerts page this morning.  Each stock is seeing active trading right before the open and brief explanations and analysis are offered at VSInvestor.com:

You can check each morning at VSInvestor.com for earlier pre-market indications in stocks on the move you might not have seen.

Jon C. Ogg

Posted on: July 1, 2009 – 8:35 am in Trading Alert, , , , , , , , , , , , ,

Gold Miners Staging Breakouts (GDX, AU, GOLD, RGLD, ABX, AUY, GG, NEM)

Gold has been making a serious comeback and many are talking about the $1,000 per ounce level again as being ahead shortly.  This latest run is with energy prices screaming, the US Dollar getting pounded again, and with the fears that all this new money being printed is going to create much higher inflation down the road.  When gold was making the same sort of run to $1,000 earlier this year, that was because of the fear premium.  The other difference is that in this move, we are now starting to see a technical break-out on the charts of some of the top gold miners that trade in the U.S. that are actually global operations.  The Market Vectors Gold Miners ETF (NYSE: GDX) was up 4% at $44.45 in early trading, and its 52-week trading range is $15.83 to $51.84.  Two gold stocks are making key break-outs: AngloGold Ashanti Ltd. (NYSE: AU) and Randgold Resources Limited (NASDAQ: GOLD).  Other large gold mining leaders are lagging, but you have to wonder how long that will last if the stock market stays strong and if the interest in the re-flation trade stays high.
Read More »

Posted on: May 29, 2009 – 9:16 am in Commodities, ETF, Metals, , , , , , , ,

Top Analyst Downgrades (AYE, AU, BJS, CEO, SLB, WX)

These are some of the general analyst downgrades we have seen this Monday morning from Wall Street:

Allegheny Energy (AYE) Cut to Neutral at Goldman Sachs.
Anglogold (AU) Cut to Neutral at UBS.
BJ Services (BJS) Cut to Hold at Jefferies.
CNOOC (CEO) Cut to Neutral at Credit Suisse.
Schlumberger (SLB) Cut to Hold at Jefferies.
WuXi PharmaTech (WX) Cut to Underperform at Jefferies.

JON C. OGG

Posted on: May 18, 2009 – 6:49 am in Analyst Calls, , , , , ,

Gold ETF’s Try To Interpret Anglogold Earnings (AU, GLD, GDX)

Gold ImageWith gold back well above the $900.00 mark, it seems that the SPDR Gold Shares (NYSE: GLD) and the Market Vectors Gold Miners ETF (NYSE: GDX) are trying to interpret a key gold earnings report.  South African gold miner AngloGold Ashanti Ltd. (NYSE:AU) reported first quarter 2009 profits of $150 million and EPS of $0.42, substantially better than fourth quarter 2008 loss of $17 million (EPS loss of -$0.05).

Read More »

Posted on: May 15, 2009 – 8:09 am in Commodities, ETF, Metals, , ,

Gold Production Expected to Fall (AU, GLD, GDX)

gold-image31AngloGold Ashanti Ltd. (NYSE:AU) has indicated that first quarter 2009 production will reach just 1.1 million ounces of gold, 2.5% lower than previous guidance. The company has maintained its previous guidance for production for the full year at 4.9-5.0 million ounces at a cash cost of $435-$450/ounce.
Read More »

Posted on: April 2, 2009 – 9:21 am in Commodities, ETF, Metals, , ,

Anglo American is Digging a Big Hole (AAUK, RTP, ACH, AU, ABX, NEM)

The bigger they are, the more noise they make when they fall. British miner Anglo American plc (NASDAQ:AAUK) has canceled its dividend for the fourth quarter, suspended its $4 billion share buyback program, and fired 19,000 people, about 10% of its workforce.
Read More »

Posted on: February 20, 2009 – 10:49 am in Commodities, Labor & Unions, Metals, , , , , ,

Gold Miner’s Shares Rise on Loss (AU)

South African gold miner AngloGold Ashanti Ltd. (NYSE:AU) shares are up about 1.5% this morning after the company reported a quarterly net loss of $17 million. The loss was primarily attributed to a write-down on stockpiles and inventories.
Read More »

Posted on: February 9, 2009 – 10:24 am in Commodities, Earnings, Metals, , , , ,

Has Gold Peaked? (ABX, GG, NEM, AU, GLD, GTU, DGL, IAU)

Gold_picWhen the going gets tough, the tough go for gold. That’s historically the way it’s worked out. And the going is definitely tough now. So what about gold? Is it going up or down? Is gold the place to be right now?

Gold miners such as Barrick Gold Corp. (NYSE:ABX), Goldcorp Inc. (NYSE:GG), Newmont Mining Corp. (NYSE:NEM), and AngloGold Ashanti Ltd. (NYSE:AU) offer one way to invest in gold. There is also a mining ETF, Miners Vectors Gold Miners (NYSE:GDX). Another way to invest in gold is either by buying bullion directly or investing in bullion through a commodity ETF such as SPDR Gold Shares (NYSE:GLD) or PowerShares DB Gold (NYSE:DGL).

Read More »

Posted on: February 5, 2009 – 1:06 pm in Commodities, Metals, , , , , , , ,

Are Gold Miners Getting Well? (ABX, GG, NEM, AU)

Gold_picIn the past month, gold mining stocks have hit new 52-week lows. On October 27th, Barrick Gold Corporation (NYSE:ABX) bottomed out at $17.27, Goldcorp (NYSE:GG) hit $13.84 on the same day, and Newmont Mining (NYSE:NEM) fell to $21.17. AngloGold Ashanti (NYSE:AU) waited a month to touch a low of $13.37 on November 20th.

Read More »

Posted on: November 28, 2008 – 7:50 am in Commodities, Luxury, Metals, Trading Alert, , , ,

Gold Fields Underscores Woes of Gold Sector (GFI, NEM, GG, ABX, AU, GLD, GDX)

Gold_pic_2South African gold miner Gold Fields Limited (NYSE:GFI) posted its fiscal year 2008 earnings today. The company has been hit hard by higher costs, lower production, and a cave-in that killed eight miners. The company reported net profit for the year of $662.6 million on production of about 3.64 million ounces of gold.  What is most interesting here is that the issues inside the company may offer some great insight to the problems inside other global gold miners. 

Read More »

Posted on: September 29, 2008 – 11:10 am in Metals, , , , , , ,

The 52-Week Low Club 8/11/2008 (SIRF)(CDE)(AU)(BWTR)

Sad_clownCoeur d’Alene Mines (CDE) Faces bad earnings and falling  metals prices. Drops to $1.69 from 52-week high of $5.18.

Anglogold Ashanti (AU) Metals stocks down. Slips to $25.68 against 52-week high of $51.35.

Basin Water (BWTR) Delays results and audit committee begins investigation. Falls to $1.29 from 52-week high of $13.42.

SiRF Technology (SIRF) Loses patent ruling against Broadcom (BRCM) Drops to $2.15 from 52-week high of $30.61.

Douglas A. McIntyre

Posted on: August 11, 2008 – 2:47 pm in HI/LOW, , , ,

Top Pre-Market Analyst Upgrades (AIG, AU, AAPL, BLKB, CREE, GENZ, HGG, LL, RDS.A, WBD)

These are some of the top analyst upgrades and positive calls we are seeing this Tuesday morning:

  • American International Group (AIG) Raised to Buy at UBS.
  • Anglogold (AU) Raised to Outperform at Credit Suisse.
  • Apple (AAPL) Started as Buy at UBS.
  • Blackbaud (BLKB) Raised to Buy at Jefferies.
  • Cree (CREE) Raised to Outperform at Morgan Keegan.
  • Genzyme (GENZ) Started as Buy at Banc of America.

Read More »

Posted on: August 5, 2008 – 6:28 am in Analyst Calls, , , , , , , , , ,

The 52-Week Low Club (AMGN, AU, BGP, HB, IP, JBL, MOT, HOOK, RVBD, SLRY)

This week felt like a yo-yo of volatility, and frankly that makes it even better that it was a 4-day work week for the stock market.  Despite the huge rally today that was led by the financials, there were plenty of shares that hit the wall of shame on the 52-week low list.  Not all of these closed under their 52-week lows, but the list was far larger than one would guess for the way the market acted today.

  • Amgen (NASDAQ: AMGN) just keeps going and going.  This broke under $40.00 today as life gets uglier and uglier for anemia drugs. Got back above $40.00 late in the day so it doesn’t look like a low close.
  • Anglogold Ashanti (NYSE: AU) bit the dust with gold prices lower again.  Under $31.00 late in the day; prior range $31.88 to $51.35.
  • Borders Group (NYSE: BGP) bit the dust.  Shares fell sharply after its earnings report.  It’s killing the dividend and "reviewing strategic alternatives." Down 35% late in day at $4.56; prior range $6.90 to $24.15.
  • Hillenbrand (NYSE: HB) hit the list too, although this is sellers unloading before it breaks itself into two at the end of the month.  This is likely just sellers getting out ahead of what they think may be an uncertain event.  Shares down close to $48.00 late in day; prior range $48.40 to $69.45.
  • International Paper (NYSE: IP) is now down to under $27.00. Wasn’t this just at $40.00 a few months ago?  Cyclical business, down 2% late at $26.87; prior range $27.44 to $41.57.
  • Jabil Circuits (NYSE: JBL) looked pretty bad today down almost 6% to $11.51 late in day with prior range $12.02 to $26.18.  Trailing P/E still high.
  • Motorola (NYSE: MOT) wouldn’t be fair to leave off the list… again.. shares traded under $9.00.  Carl Icahn has to be furious that he stayed here.  The good news is that croaker-granola got back above prior $9.12 low to $9.20 at 3:30 PM EST.
  • Redhook Ale (NASDAQ: HOOK) fell over 10% and $5.00 is getting farther and farther away with shares at $4.35 late in day; prior low was $4.55… Maybe we should have some Redhook ale this long weekend to help[ them out.
  • Riverbed Tech (NASDAQ: RVBD) traded down to under $15.00 today before recovering.  Shares were at $15.20 late in the day and the prior 52-week trading range was $15.16 to $52.81.
  • Salary.com (NASDAQ: SLRY) is one we should have stuck with on our short-sell call in "10 Stocks Under $10" as it came back down.  Shares down to $6.32 late in day with prior 52-week trading range of $6.37 to $16.32.

Next week is a full week, and you know there will be more 52-week lows being put in regardless of what the market does.  Stay tuned!

Jon C. Ogg
March 20, 2008

Posted on: March 20, 2008 – 2:41 pm in HI/LOW, , , , , , , , , ,

Top 10 Pre-Market Analyst Calls (AU, APOL, CLF, DRI, ETR, EXC, EXPD, F, MELI, OSIP, STX, WDC)

These are not all of the analyst calls out there affecting shares, but these are the top 10 analyst we are focusing on this Monday morning:

  • Anglogold (NYSE: AU) Raised to Buy at UBS.
  • Apollo Group (NASDAQ: APOL) cut to Sell at Banc of America.
  • Cleveland-Cliffs (NYSE: CLF) started as Buy at Deutsche Bank.
  • Darden Restaurants (NYSE: DRI) raised to Outperform at Bear Stearns.
  • Entergy (NYSE: ETR) & Excelon (NYSE: EXC) raised to Buy at Jefferies.
  • Expeditors International (NASDAQ: EXPD) Raised to Buy at UBS.
  • Ford Motors (NYSE: F) cut to Sell at Citigroup.
  • MercadoLibre (NASDAQ: MELI) raised to Outperform at RBC Capital.
  • OSI Pharmaceuticals (NASDAQ: OSIP) raised to Outperform at Wachovia.
  • Seagate Tech (NYSE: STX) raised to Overweight at JP Morgan; Western Digital (NYSE: WDC) downgraded to Underweight at JP Morgan.

Jon C. Ogg
March 3, 2008

Posted on: March 3, 2008 – 7:55 am in Analyst Calls, , , , , , , , , , , ,

The 52-Week Low Club (AMLN, ARRS, AU, ED, GCI, IACI, IUSA, PCG, SLRY)

Amylin Pharmaceuticals Inc. (NASDAQ: AMLN) is becoming a regular in this club. Yet another low of $28.02 intraday from a high of $53.25. It actually closed at $28.62, so it closed above the prior $28.41 low.

Arris Group Inc. (NASDAQ: ARRS). After an 86% drop in profit, shares plunge, targets are cut, and analysts downgrade, Arris lost 30% today and closed down at $5.50 from a former low of $6.91. The 52 week high is $17.89.

AngloGold Ashanti Ltd. (NYSE:AU)  A gold stock on the 52-week lows? Power issues prevail over high commodity prices… ouch! Trading at $33.75. The 52 week range is $33.80 to $51.35.

Consolidated Edison Inc. (NYSE:ED). $10 million lawsuit in the working from a mid-summer accident. Shares  down to $42.40, but $41.96 was the intraday low. The 52 week range is $42.35 to $52.90.

Gannett Co., Inc. (NYSE: GCI). It’s amazing when even a Warren Buffet stake won’t help a newspaper. Shares down to $31.90, prior 52-week range $31.97 to $63.50.

IAC/InteractiveCorp. (NASDAQ: IACI) has been under review for our special situations letter, although it has not yet been added with any formal recommendations. Shares actually closed up marginally at $21.88 after falling down to a low of $21.56; with a 52 week range of $21.80 to $52.90.

infoUSA Inc. (NASDAQ: IUSA) With such a lame Super Bowl commercial, what else could one ask for? Trading in at $7.82, but it traded as low as $7.50 today; preior range was $7.76 to $11.30.  We recently panned this one for our "10 Stocks Under $10" letter ahead of the big game.

PG & E Corp. (NYSE: PCG). As a reward for awards for environmental stewardship, this utility is given a new low. Trading at $39.85 it closed up marginally at the end of the day, but it saw $39.19 earlier today; 52-week trading range is $39.45 to $52.17.

Salary.com, Inc. (NASDAQ: SLRY).  We featured Salary.com on our "10 Stocks Under $10" letter as one of the worst ideas for an IPO of internet stocks and having potentially a fair value of $5 to $6 per share. Today, it reached a new low of $8.00 after a late morning nose-dive before coming back to close "only" down 2.8% at $8.32. The prior 52-week range was $8.31 to $16.32.

Douglas A. Mcintyre
February 15, 2008

Posted on: February 15, 2008 – 6:28 pm in HI/LOW, , , , , , , , ,

Top 10 Pre-Market Analyst Calls (AU, CEPH, KO, CXR, MCO, NVO, URBN, WAG, CVC, CMCSA, TWC, DISH, DTV)

Below are some of the key general calls we are looking at in early pre-market trading:

  • Anglogold (NYSE: AU) downgraded to Neutral from Buy at UBS.
  • Cephalon (NASDAQ: CEPH) downgraded to Underperform at Morgan Stanley.
  • Coca-Cola (NYSE: KO) raised to Outperform at Bear Stearns.
  • Cox Radio (NYSE: CXR) downgraded to Equal Weight at Morgan Stanley.
  • Moody’s (NYSE: MCO) raised to Buy from Hold at Citigroup.
  • Novo Nordisk (NYSE: NVO) raised to Outperform at Bernstein.
  • Urban Outfitters (NASDAQ: URBN) raised to Peer Perform a Bear Stearns.
  • Walgreen (NYSE: WAG) raised to Buy from Neutral at UBS.

Cable & Satellite Initiations: UBS has initiated cable and satellite companies. Cablevision (NYSE: CVC), Comcast (NASDAQ: CMCSA), and Time Warner Cable (NYSE: TWC) were all started as neutral at UBS.  DIRECTV (NYSE: DTV) was initiated as Buy and DISH Network (NASDAQ: DISH) was initiated with a Neutral rating.

Jon C. Ogg
February 8, 2008

Posted on: February 8, 2008 – 7:31 am in Analyst Calls, , , , , , , , , , , , ,

Goldman Sachs Hints At $1,000 Gold Potential & Weaker Dollar (ABX, GLD, NEM, AU, BVN, GFI, FCX)

Goldman Sachs is RAISING ITS 2008 GOLD FORECASTS factoring for a recession in the U.S. in both Q2 and Q3 2008, leading to a weaker U.S. Dollar target of $1.51/Euro (up from $1.35) over the next six months.  The prior $800/ounce gold target is now put at an average of $915/ounce for all of 2008, with an exit 2008 commodity price of $850 (up from $825 prior).  The call is based on support from investment demand, purchases from emerging market central banks, and the ongoing declining mine supplies.  Goldman Sachs is also raising its 2009 and 2010 gold prices:

  • 2009 prices are now expected to be $870/ounce (up from $852);
  • 2010 prices are now expected to be $940/ounce (up from $907);

Near-term Goldman Sachs notes a possibility of a spike past $1,000.00 that could be the effect of further credit events and increases in oil prices.

Below is a summary of some of the equity calls from Goldman Sachs on its gold stock sector coverage:

  • Barrick Gold (NYSE: ABX) is Goldman Sachs’ TOP PICK as a defensive and non consumer-sensitive pick within its basic materials coverage.  Its estimates were only raised 1 penny to $2.01 EPS this year but next year’s EPS is now targeted at $4.00 (up from $3.20 prior).  This was recently also Jim Cramer’s top gold pick.
  • Newmont Mining Corp. (NYSE: NEM) (neutral rated) estimates were raised from $1.31 EPS to $1.33 and next year from $1.94 to $2.76.
  • The new estimates for AngloGold Ashanti Ltd. (NYSE: AU) (neutral rated) are $1.61 EPS from $1.57 for this year and $3.38 from $3.16 for next year.
  • Compania de Minas Buenaventura SA (NYSE: BVN) ADR’s (sell rated) are seeing this year’s EPS estimates raised to $2.54 from $2.50 and next year’s EPS estimates raised to $4.43 from $3.55.
  • Gold Fields Ltd. (NYSE: GFI) (Buy rated) estimates are being raised to $0.87 EPS from $0.69 this year and raised to $1.54 EPS from $1.39 next year.
  • Freeport-McMoRan Copper & Gold (NYSE: FCX) (Buy rated) is seeing the estimate for this year down by 1 penny to $8.49, but the EPS estimate for next year is being raised to $10.03 from $9.75.

Traders can also look at the streetTRACKS Gold Shares (NYSE: GLD) as the ETN (ETF) in the sector.  It trades at roughly one-tenth the price of gold bullion after trust expenses and fees.

Many traders thought that first $100 OIL super-spike price wasridiculous at the time, but then as prices soared and all of a suddenthe hiked and raised $135 OIL super-spike price didn’t get as muchcriticism.  For inflation’s sake, let’s hope Goldman Sachs proprietarytraders don’t go out on a massive buying spree.

Jon C. Ogg
January 16, 2008

Posted on: January 16, 2008 – 9:47 am in Analyst Calls, Metals, , , , , , ,