Fronteer has a 2.7% weighting in the Market Vectors Junior Gold Miners ETF. Other components are on the move as well.
Allied Nevada Gold Corp. (AMEX: ANV) is up 4% at $28.48 on just under 800,000 shares; its 52-week range is $11.57 to $29.05.
Hecla Mining Co. (NYSE: HL) up 5.3% at $9.71, yet volume is only 8.9 million shares; its 52-week range is $4.27 to $11.56.
Gammon Gold, Inc. (NYSE: GRS) is up 4.3% at $8.17 on just under 1.4 million shares; its 52-week range is $5.09 to $10.47.
Coeur d`Alene Mines Corporation (NYSE: CDE) is up only 1.3% at $24.83 on about 1.6 million shares; its 52-week range is $13.41 to $28.20.
The hope here is a simple one, but it stands out against against gold the metal today. Spot gold is up about 1.4% at $1352.12 per ounce, while the SPDR Gold Shares (NYSE: GLD) is up about 1.2% at $131.90. The hope is that more gold mining acquisitions will come. It has actually been surprising at just how few deals there have been. Now that many of these stocks have pulled back so much it may be time to look at the biggest bargains that are off the most.
JON C. OGG
Contact [email protected] for any questions or corrections.
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