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Stock Market & Financial Investment News

News Breaks
April 22, 2014
06:31 EDTGOLD, IAG, PAAS, AEM, FNV, GG, BVN, NEM, ABXMetals & Mining sector upgraded to Neutral at Goldman
Goldman raised the Metals & Mining sector to Neutral from Cautious based on relative industry under performance, cost cutting initiatives, responsible capital allocation, portfolio optimization and focus on free cash flow. As part of the sector rating change the firm upgraded Barrick Gold (ABX) and initiated Buenaventura (BVN) and Franco-Nevada (FNV) with Neutral ratings.
News For ABX;BVN;FNV;NEM;GG;AEM;PAAS;IAG;GOLD From The Last 14 Days
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February 11, 2016
09:36 EDTABXActive equity options trading on open
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February 10, 2016
19:33 EDTFNVOn The Fly: After Hours Movers
UP AFTER EARNINGS: HubSpot (HUBS), up 12%... CSRA (CSRA), up 12%... Expedia (EXPE), up 11.5%... Tesla (TSLA), up 9.6%... Hortonworks (HDP), up 8.6%... Skechers (SKX), up 8.8%... Cisco Systems (CSCO), up 7.3%... Centurylink (CTL), up 8.4%... O'Reilly Automotive (ORLY), up 5.2%... Kinross Gold (KGC), up 3.7%... Whole Foods Market (WFM), up 2.5%. ALSO HIGHER: Tripadvisor (TRIP) is up 7.1% and Priceline (PCLN) is up 4.5% after Expedia reported its quarterly results. DOWN AFTER EARNINGS: Pilgrim's Pride (PPC), down 10.9%... Cornerstone OnDemand (CSOD), down 3.6%... Mylan (MYL), down 9.4% after reporting quarterly results and announcing that it will acquire Meda Aktiebolag for $9.9B... Zynga (ZNGA), down 8.9%... iRobot (IRBT), down 6.4%... Prudential (PRU), down 1%... Twitter (TWTR), down 3%... Pioneer Natural (PXD), down 2.4%. ALSO LOWER: Franco-Nevada (FNV), down 4.9% after 11.5M share Spot Secondary priced at $47.85... Continental Resources (CLR), down 2.4% after reporting proved reserves of 1.23B Boe at Dec. 31, 2015.
19:11 EDTFNVFranco-Nevada 11.5M share Spot Secondary priced at $47.85
BMO Capital, CIBC, RBC Capital and Scotiabank acted as joint book running managers for the offering.
18:22 EDTAEMAgnico Eagle sees FY16 gold production 1.53M-1.57M ounces
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18:20 EDTAEMAgnico Eagle reports Q4 EPS ex-items 2c, consensus 0c
Reports Q4 revenue $482.93M, consensus $496.56M. Measured and indicated mineral resources were up 1%, while inferred mineral resources increased by 23%. Mineral reserves declined by 5% to 19.1 million ounces due to mine depletion of approximately 1.8 million ounces.
16:58 EDTFNVFranco-Nevada to hold a conference call
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16:32 EDTFNVFranco-Nevada announces $550M common stock offering at $47.85 per share
Franco-Nevada announced that it has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets, CIBC Capital Markets, RBC Capital Markets, and Scotiabank, pursuant to which they have agreed to purchase, on a bought deal basis, 11.5M common shares of Franco-Nevada at a price of $47.85 per common share, for aggregate gross proceeds to Franco-Nevada of approximately $550M. The underwriters will also have the option, exercisable in whole or in part, at any time for a period of 30 days following the closing of the Offering, to purchase up to an additional 1.73M common shares at the Offering Price to cover over-allotments, if any. In the event that the option is exercised in its entirety, the aggregate gross proceeds of the Offering to Franco-Nevada will be approximately $663M. The company plans to use the net proceeds of the Offering for the funding of Franco-Nevada's acquisition of a precious metals stream with reference to production from Glencore plc's Antapaccay Mine located in Peru, as announced on February 10, 2016, and the balance will be added to the working capital of the company and used for further investments and other general corporate purposes. The completion of the Offering is not conditional upon the successful completion of the Antapaccay Transaction.
February 9, 2016
17:09 EDTIAGIAMGOLD issues mineral resource estimate for Diakha deposit
IAMGOLD announced the first mineral resource estimate for the Diakha deposit located on the Siribaya JV project in western Mali, West Africa. The Siribaya exploration project is operated by IAMGOLD under a joint venture with Merrex Gold. The resource estimate, which includes resources estimated for previously known zones at Zone 1B and Taya Ko along the Siribaya trend as well as the new Diakha deposit, is comprised of Indicated Resources totalling 2.1M tonnes averaging 1.9 grams of gold per tonne for 129,000 ounces and Inferred Resources comprised of 19.8M tonnes averaging 1.71 grams of gold per tonne for 1.1M ounces. "A significant portion of the estimate is derived from the newly discovered Diakha deposit which is open in all directions and has significant potential for expansion," the company remarked. In support of the resource estimate, preliminary metallurgical testwork was completed on three composite samples prepared from Diakha diamond drill core. The results suggest that the gold mineralization is not refractory and that a gold recovery of approximately 92% can be expected from a conventional leach/carbon in pulp circuit.
10:00 EDTGOLDOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: American Capital Senior Floating (ACSF) downgraded to Market Perform at Keefe Bruyette... American Science & Engineering (ASEI) downgraded to Hold from Buy at Benchmark... ArcelorMittal (MT) downgraded to Neutral from Overweight at JPMorgan... BioCryst (BCRX) downgraded to Hold from Buy at Jefferies... Brixmor (BRX) downgraded to Underperform from Outperform at RBC Capital... Diana Shipping (DSX) downgraded to Neutral from Buy at Clarksons Platou... Eagle Point Credit (ECC) downgraded to Neutral from Buy at Compass Point... Golden Ocean (GOGL) downgraded to Neutral from Buy at Clarksons Platou... Lukoil (LUKOY) downgraded to Hold from Buy at Deutsche Bank... Memorial Resource (MRD) downgraded to Neutral from Overweight at JPMorgan... Navios Maritime (NM) downgraded to Neutral from Buy at Clarksons Platou... Northstar Realty (NRF) downgraded to Market Perform from Outperform at Keefe Bruyette... Plains All American (PAA) downgraded to Neutral from Buy at BofA/Merrill... Plains GP Holdings (PAGP) downgraded to Neutral from Buy at BofA/Merrill... Qualys (QLYS) downgraded to Neutral from Buy at DA Davidson... Quidel (QDEL) downgraded to Hold from Buy at Canaccord... Randgold (GOLD) downgraded to Hold from Buy at Deutsche Bank... Scorpio Bulkers (SALT) downgraded to Neutral from Buy at Clarksons Platou... Tortoise Energy (TYG) downgraded to Hold from Buy at Stifel... Winnebago (WGO) downgraded to Neutral from Buy at Northcoast.
05:31 EDTGOLDRandgold downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank downgraded Randgold to Hold saying the stock looks expensive following the 36% rally over the past month.
February 8, 2016
12:47 EDTGOLDRandGold surges after quarterly earnings, plans for dividend hike
Shares of RandGold (GOLD) rallied in midday trading after the company reporting earnings for the fourth quarter of fiscal year 2015 and announced plans to increase its annual dividend. WHAT'S NEW: Before the market open, RandGold Resources reported Q4 earnings per share of 47c, down from 53c in the same period last year, and below analysts' consensus estimates of 48c. The company said that the decline in year over year profits reflects the decline in gold price. Pretax profit for the quarter was $70.5M, while revenue was $272.09M, up from $226.32M in the year-ago period, the company said. RandGold said that production for the fourth quarter amounted to 326,430 ounces compared to 287,048 ounces in the same period a year ago. Looking to fiscal year 2016, the company said it is eyeing gold output of 1.25M-1.3M ounces for FY16, a 3%-75% increase over 2015, and a cash cost of $590-$630 per ounce. Additionally, RanGold expects production to be "relatively consistent" throughout FY16, but will be "slightly weighted" to the second half. RandGold added that it anticipates capital expenditures of $240M in FY16 and $115M in fiscal 2017. DIVIDEND RAISE: Separately, RandGold said that its board has recommended a 10% hike in its annual dividend to 66c per share from 60c per share. The company said that the proposed increase reflects the strong cash flows generated by the business. If approved by the company's shareholders, the dividend will be payable on May 27 to shareholders on record March 18, RandGold said. STREET RESEARCH: Following the release of RanGold's earnings report, Deutsche Bank analyst Anna Mulholland downgraded the stock to Hold from Buy. The analyst said that the offering of low cost production and an ungeared balance sheet should provide RandGold a relative premium, but that shares have overshot the firm's fair value and do not offer enough growth or yield to maintain the rally, especially when the firm anticipates gold's run to "peter out." Mulholland said the firm prefers Acacia Mining within the gold space. The analyst added that key risks for the company include higher or lower than expected gold prices, lower or higher than expected costs and volatility in the Euro/Dollar exchange rate. PRICE ACTION: At midday, RandGold jumped 9.53% to $85.76 in New York.
10:08 EDTGOLDRandgold downgraded to Hold from Buy at Deutsche Bank
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09:36 EDTGGActive equity options trading on open
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February 5, 2016
11:23 EDTGGOptions with increasing put volume
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February 4, 2016
15:59 EDTNEMOptions Update; February 4, 2016
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11:00 EDTNEMStocks with call strike movement; NFLX NEM
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07:38 EDTFNVFranco-Nevada downgraded to Neutral from Outperform at Credit Suisse
Credit Suisse analyst Anita Soni downgraded Franco Nevada to Neutral based on valuation following a reduction in her price target to $53 from $57. The analyst reduced estimates to reflect less value for oil and gas and PGMs on lower price forecasts and Phoenix production suspension.
February 2, 2016
10:01 EDTAEMOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Agnico Eagle (AEM) downgraded to Hold from Buy at Desjardins... Alere (ALR) downgraded to Hold from Buy at Canaccord... Antero Resources (AR) downgraded to Reduce from Neutral at SunTrust... Carbylan (CBYL) downgraded to Market Perform from Outperform at Leerink... Copa Holdings (CPA) downgraded to Hold from Buy at Deutsche Bank... Dominion (D) downgraded to Neutral from Buy at Citi... Duke Energy (DUK) downgraded to Market Perform from Outperform at Wells Fargo... Hain Celestial (HAIN) downgraded to Neutral from Overweight at Piper Jaffray... Integrated Device (IDTI) downgraded to Neutral from Buy at BofA/Merrill... Logitech (LOGI) downgraded to Underweight from Equal Weight at Morgan Stanley... Merus Labs (MSLI) downgraded to Sector Perform from Outperform at Scotiabank... New Gold (NGD) downgraded to Sell from Buy at Desjardins... Nokia (NOK) downgraded to Underperform from Buy at CLSA... Plantronics (PLT) downgraded to Underperform from Outperform at Raymond James... Pool Corp. (POOL) downgraded to Equal Weight from Overweight at Stephens... Praxair (PX) downgraded to Sector Weight from Overweight at KeyBanc... Rofin-Sinar (RSTI) downgraded to Neutral from Buy at Longbow... Southwestern Energy (SWN) downgraded to Neutral from Overweight at JPMorgan... Stifel cuts Twitter (TWTR) to Sell after noting Yahoo has significantly more users... Superior Energy (SPN) downgraded to In-Line from Outperform at Imperial Capital... Sysco (SYY) downgraded to Underweight from Equal Weight at Morgan Stanley... Telenor (TELNY) downgraded to Underperform from Neutral at Credit Suisse... Twitter (TWTR) downgraded to Sell from Hold at Stifel... Valeo (VLEEY) downgraded to Underweight from Equal Weight at Morgan Stanley.
08:14 EDTAEMAgnico Eagle downgraded to Hold from Buy at Desjardins
February 1, 2016
06:36 EDTGGGold Standard Ventures announces C$16.1M strategic investment by Goldcorp
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