A handful of pharmaceutical stocks are higher out of the gate today. Among them, Teva Pharmaceutical Industries Ltd (NYSE:TEVA) is making noise after a big Buffett boost, while the shares of AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG) are soaring after a nod from the Food and Drug Administration (FDA). What's more, an unwinding of skepticism on Wall Street could add fuel to the fire for TEVA and AMAG...Read More
Shares of Shopify Inc (NYSE:SHOP) are in focus this morning as traders react to the e-commerce platform's fourth-quarter earnings report. SHOP announced a net loss of 3 cents per share, with adjusted earnings arriving at 15 cents per share, while revenue jumped 71% to $222.8 million. The results topped analysts' expectations, but SHOP was trading down more than 2% ahead of the market open this mor...Read More
What a day for the bears onWednesday. CPI came out at 8:30 EST, and the equities fell 500 points, gold fell$15 and the dollar spiked. By the end of the day, gold reversed by $50, the Dow by 600 and the dollar got pounded, another beating for the bears.The action looked more like shortcovering as the bears got squeezed again. The excitement is back, and buyersare everywhere, because this time is di...Read More
Stock futures are soaring once again, on track to extend the bullish momentum that fueled yesterday's big gains. While futures tanked early Wednesday in response to hotter-than-forecast inflation data, traders today are shrugging off a 0.4% jump in the producer price index (PPI), which arrived in line with consensus estimates. Dow Jones Industrial Average (DJI) futures are up over 185 points, whi...Read More
Pembridge Resources (LON:PERE) said Thursday it was buying Capstone Mining's (TSX:CS) Minto copper-gold-silver mine in Canada's Yukon for $37.5 million in cash plus a 9.9% stake in the company.The miner, which last year moved from the Aim to LSE main board, said the acquisition makes of Pembridge a cash flow generating copper producerThe London-based company said it plans to raise $50 mill...Read More
Pembridge Resources (LON:PERE) said Thursday it was buying Capstone Mining's (TSX:CS) Minto copper-gold-silver mine in Canada's Yukon for $37.5 million in cash plus a 9.9% stake in the company.The miner, which last year moved from the Aim to LSE main board, said the acquisition makes of Pembridge a cash flow generating copper producerThe London-based company said it plans to raise $50 mill...Read More
Gold and silver prices failed as a hedge against the recent stock market correction, in my opinion, because of U.S. dollar appreciation.The U.S. dollar appreciated because of a robust U.S. economy and an intensifying expectation for a worthy tightening of Fed monetary policy as a result.Precious metals investors should be aware of scenarios through which the tide might turn for their fortunes; tho...Read More
(Kitco News) - Hecla Mining Co. (NYSE: HL)posted a net loss in the fourth quarter, hurt by a strike at the Lucky Fridaymine in Idaho, a number of special items and an income-tax provision due to newU.S. tax legislation, the company said Thursday.Meanwhile, Hecla said the companyhas agreed to binding third-party arbitration with the United Steelworkers inan attempt to end the Lucky Friday strike in...Read More
Mr. John Burzynski reports OSISKO INTERSECTS 2.51 G/T AU OVER 73.0 METRES AT GARRISON Osisko Mining Inc. has provided the final results from the 2017 drill program at its 100-per-cent-owned Garrison gold project located in Garrison township, Ontario. Over 85,000 metres of new drilling have been conducted by Osisko on the Garrison project since its acquisition in late 2015. A total of 15 new interc...Read More
(Kitco News) - Goldpricesare modestly lower in early U.S. trading, on a minor corrective pullbackfrom the strong gains scored Wednesday. Still, the bulls this week have gainedgood momentum to suggest still more upside is likely in the near term. April Comex gold futures were last down $2.60 an ounce at $1,355.40. March Comex silver was last down $0.078 at $16.795 an ounce.Thejust-released January...Read More
Getty ImagesWholesale inflation in the U.S. surged in January mostly because of higher oil prices, according to a measure of costs known as PPI. The numbers: U.S. wholesale prices shot up 0.4% in January, the latest sign that inflation is perking up. The biggest culprit: higher oil prices. Yet a more stable measure known as core PPI also rose 0.4%, suggesting price pressures are more widespread....Read More
(Kitco News)- Hotter-than-expected pipeline inflation pressures are not having much impact on gold, one day after the metal's biggest gains in nearly two years.Thursday, the U.S. Labor Department said its Producer Price Index (PPI) rose 0.4% last month following a 0.1% decrease in December. The data was in line with consensus forecasts. The report said that annual inflation rose2.7%.However, Core...Read More
Editor's Note: Updating earlier story to include more details from report, prices.(Kitco News) - Gold prices moved little after initial weekly U.S. jobless claims climbedby 7,000 to a seasonally adjusted 230,000 in the week to Saturday, accordingto a Thursday Labor Department report.Consensusexpectations compiled by various news organizations called for initial claimsto be around 230,000. The...Read More
MOSCOW, Feb 15 (Reuters) - Russia's largest gold producer Polyus sold more gold last year to Otkritie bank, which was rescued last August by the country's central bank, Polyus's 2017 management report showed on Thursday.Russian gold producers usually sell their product to Russian banks which then sell it on to the central bank or export it. The biggest players in this market are Russia's two large...Read More
Mr. Darin Wagner reportsBALMORAL COMMENCES WINTER DRILL PROGRAM ON MARTINIERE GOLD PROPERTY AND PROVIDES CORPORATE UPDATEBalmoral Resources Ltd.'s winter 2018 drill program on its Martiniere gold property in Quebec is under way, and visible gold mineralization has been intersected in the first hole of the program. This first hole targeted the down-plunge extension of the recently discovered, near-...Read More
TORONTO, Feb 15 (Reuters) - Barrick Gold , the world's largest producer of gold, said on Thursday that it expects the U.S. tax reform to result in a net positive adjustment of approximately $200 million.Barrick also said it intends to exercise its shareholder rights in any vote after a resolution is reached between its Acacia Mining unit and Tanzania. Chief Operating Officer Richard Williams had b...Read More
Canadian miner Kinross Gold (TSX:G) (NYSE:KGC) has moved to secure low-cost power supply for its Paracatu mine, Brazil's largest gold mine, by buying two hydroelectric plants for $257 million.With the acquisition of two hydroelectric plants, it expects to eliminate about 70% of future power purchases.The Toronto-based miner said the acquisition of Barra dos Coqueiros and Cacu hydro power plants,...Read More
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More
EURUSD The market is trading along an uptrend with target on 1.2530, that may be expected to continue, while market is trading above support level 1.2450.An downtrend will start as soon, as the market drops below support level 1.2450, which will be followed by a move down to support level 1.2378. GOLD The uptrend may be expected to continue in case the market rises above resistance level 1358,...Read More
Rising mineral prices and the increasing difficulties to earn a living from agriculture, have led to an explosive growth in global artisanal and small-scale mining (ASM) in the last few years.The activity is emerging as an significant socio-economic sector in a number of developing nations, to the point it has become a major of revenue for millions of people in about 80 countries worldwide - mostl...Read More