Canada's Nutrien (TSX, NYSE:NTR), the world's largest potash miner, said Monday it was selling its 28%-stake in Arab Potash Co to China's State Development and Investment Corp (SDIC), for $502 million.SDIC Mining Investment, a subsidiary of SDIC, will become the majority shareholder in Arab Potash after the transaction, which is expected to further reduce China's reliance on potash imports and gu...Read More
Petra Diamonds Ltd forecast lower-than-estimated production for 2019 after reporting 2018 output at the bottom end of its previously guided range, sending its shares down more than 8 percent on Monday.The miner said it expects to produce 4.6 million to 4.8 million carats in 2019, well below the 5.0-5.3 million carats it forecast in July last year.The company, which has been hit by production delay...Read More
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Barrick Gold's (TSX, NYSE:ABX) president, Kelvin Dushnisky, is leaving the world's top miner of the precious metal to become South Africa's AngloGold Ashanti (JSE:ANG) (NYSE:AU) new boss.Dushnisky will take the helm at AngloGold in September, ending the search to replace Srinivasan Venkatakrishnan, who in April said he was leaving the world's third-biggest gold miner by output to run India's V...Read More
Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the INK CIN Index appeared to run out of gas and, after stalling at 1308-1311, the Index rolled over and shed 25.82 points or nearly 2%, on its way to close at 1282.96.Our short-term momentum indicator RSI tumbled 14.66 points to 38.97. Our long-term momentum indicator MACD sl...Read More
Debt financing doubled between 2016 and 2017, writes the PDAC in its mineral financing report released last month.While the amount of financing recovered from mid-decade lows due to a cyclical upswing in global economic activity, the composition of financing changed."Equity financing, which accounts for on average roughly 35% of the funds raised globally, declined the most in 2013 but has subseque...Read More
Even after five consecutive annual supply deficits, silver remains weak and recently plunged to US$15.39 an ounce, which is the metal's lowest price in over a year. This has sparked considerable speculation that silver will never bounce back and trade at anywhere near the highs witnessed in the last precious metals bull market.A key reason for this has been a marked uptick in silver supply over th...Read More
It has been a rough time for investors in New Gold Inc. (TSX:NGD)(NYSE:NGD), which has shed 39% of its market value since the start of 2018, or almost five times greater than the decline in gold. That can be attributed to a volley of disappointing results over the last year, including an almost US$30 million loss for the first quarter 2018. This has led some pundits to question whether the miner c...Read More
It's gonna be a volatile week ahead for investors in gold stocks, and it isn't just about gold prices. Even as gold prices remain soft on a stronger U.S. dollar, some of the largest gold-mining companies are set to release their quarterly earnings this week. Four of them are Barrick Gold Corp. (TSX:ABX)(NYSE:ABX), Goldcorp Inc. (TSX:G)(NYSE:GG), Yamana Gold Inc. (TSX:YRI)(NYSE:AUY), and Eldorad...Read More
I've said it before, and I'll say it again: We Fools don't put much weight on analyst opinions. Time and time again, their calls are proven to be average at best.But that shouldn't stop us from listening, either. At the very least, analysts can draw our attention to forgotten areas of the market.Well, Wall Street analyst Citigroup said last week that a specific metal is about to fly for a very, ve...Read More
Gold has declined significantly in recent weeks to be trading at around its lowest level since mid-2017. The yellow metal has declined because of a firmer U.S. dollar and stronger than expected global economic growth. Nonetheless, there's a range of emerging catalysts that could buoy the price of gold, the key one being the escalating trade war between the U.S. and China.And these factors, along w...Read More
Last week's biggest economic news had to be the deeply significant trade deal struck between Japan and the European Union (E.U.). In case you missed it, two of the world's biggest economies shook hands on a nearly zero-tariff deal that will affect over a quarter of the entire global economy.While the intention of the new trade agreement is primarily to remove trade barriers between the two signato...Read More
It's earnings season again - that time of the year when stocks can move dramatically on either side, depending on how they fare on analysts' metres. For Foolish long-term investors, analysts' estimates shouldn't matter, but knowing what to look for in a company's earnings report helps ensure their investment thesis is intact.With that in mind, five big stocks to watch this earnings week are Canadi...Read More
For maybe the best example of how financial trends are diverging at the opposite ends of the wealth spectrum, contrast the cash flowing into the accounts of the already-rich with the debt accumulating in the accounts of the "bottom half":Mortgage, Groupon and card debt: how the bottom half bolsters U.S. economy(Reuters) – By almost every measure, the U.S. economy is booming. But a look behin...Read More
The Tecolutia Project is close to major oil and gas services located in Poza Rica, 60 km away along Highway 180. Source: International Frontier Resources Corp.International Frontier Resources Corp. [IFR-TSXV, IFRTF-OTC] shares were down 36.6% Monday July 23 after the company released an operational update from its onshore oil and gas drilling project in Mexico.International Frontier recently said...Read More
AngloGold Ashanti's Vaal River gold mine in South Africa. Source: AngloGold Ashanti Ltd.A warning about the inevitable decline of South Africa's gold mining industry does not appear to have deterred Barrick Gold Corp. [ABX-TSX, NYSE] President Kelvin Dushnisky from leaving the world's leading gold miner to join Johannesburg-based AngloGold Ashanti Ltd. [AU-NYSE, AGG-ASX, ANG-JSE].Dushnisky has bee...Read More
Some of the most active companies traded Monday on the Toronto Stock Exchange:Toronto Stock Exchange (16,420.84, down 14.62 points)Aurora Cannabis Inc. (TSX:ACB). Healthcare. Up 34 cents, or 4.62 per cent, to $7.70 on 10.3 million shares.Bombardier Inc. (TSX:BBD.B). Aerospace, rail equipment. Down seven cents, or 1.44 per cent, to $4.78 on 9.1 million shares.Canopy Growth Corp. (TSX:WEED). He...Read More
TORONTO - Barrick Gold Corp.'s second-highest ranking executive will be leaving the company at the end of August to become chief executive of AngloGold Ashanti Ltd. in South Africa.Toronto-based Barrick says a replacement for Kelvin Dushnisky will be announced at a later time. John Thornton remains executive chairman.Dushnisky was educated at universities in Manitoba and British Columbia befor...Read More
Investors should be looking toward commodities as tensions with Iran and other nations heat up.Over the weekend, Iranian President Hassan Rouhani threatened the Trump administration over sanctions against Tehran. Rouhani warned:Mr. Trump, don't play with the lion's tail, this would only lead to regret...America should know that peace with Iran is the mother of all peace, and war with Iran is the m...Read More
The NASA Mars InSight Lander is en route to the Red Planet and two Colorado School of Mines scientists are among those eagerly awaiting its arrival in late November.Paul Morgan, senior geothermal geologist at the Colorado Geological Survey, and Ebru Bozdag, assistant professor of geophysics, are members of the science team for the international research undertaking, the first mission dedicated to...Read More