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Stock Market & Financial Investment News

News Breaks
February 24, 2014
04:55 EDTTC, TC, TC, AA, AA, AA, GG, GG, GG, SLW, SLW, SLW, RIO, RIO, RIO, IAG, IAG, IAG, KGC, KGC, KGC, GFI, GFI, GFI, FCX, FCX, FCX, CDE, CDE, CDE, PPP, PPP, PPP, AEM, AEM, AEMBMO Capital to hold a conference
23rd Annual Global Metals & Mining Conference is being held in Hollywood, Florida on February 23-26.
News For AEM;PPP;CDE;FCX;GFI;KGC;IAG;RIO;SLW;GG;AA;TC From The Last 14 Days
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March 19, 2015
06:59 EDTFCXProduction at Freeport McMoRan mine in Indonesia halted, Reuters reports
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March 18, 2015
17:09 EDTSLWSilver Wheaton cuts quarterly dividend to 5c from 6c per share
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17:06 EDTSLWSilver Wheaton sees FY15 production 43.5M silver equivalent ounces
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17:05 EDTSLWSilver Wheaton reports Q4 EPS 14c, consensus 15c
Reports Q4 revenue $140.4M, consensus $151.58M. Attributable silver equivalent production in Q4 2014 of 9M ounces (6.4M ounces of silver and 34,500 ounces of gold), compared with 9.7M ounces in Q4 2013, representing a decrease of 8%.
15:20 EDTSLWNotable companies reporting after market close
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11:03 EDTFCXStocks with call strike movement; NE FCX
Noble Corp. (NE) June 16 call option implied volatility increased 2% to 54, Freeport McMoRan (FCX) August 21 call option implied volatility increased 2% to 49 according to IVolatility.
07:27 EDTFCXFreeport seeks funding from Blackstone, Apollo, Reuters says
Freeport McMoRan (FCX) has hired Goldman Sachs (GS) and Barclays (BCS) to find private equity firms willing to finance certain of its energy projects and asset developments, reports Reuters, citing people familiar with the matter. Freeport is in talks with Blackstone (BX), Apollo (APO), and Warburg Pincus about a potential partnership. The sources say the firm may be seeking "several billion dollars," though discussions are in "very early" stages. Reference Link
07:21 EDTPPPPrimero Mining reports discovery of high-grade vein at San Dimas mine
Primero Mining reported the discovery of a new high-grade vein intersected by existing infrastructure at its San Dimas mine located in Durango, Mexico. The vein's channel samples average 10.4 g/t gold and 1,606 g/t silver over 1.4 metres along 98 metres of exposed vein. Drilling has further defined the Victoria vein as two narrower veins, recent intercepts include 49.7 g/t gold and 270 g/t silver over 1.1 metres. The new discoveries at the mine have resulted in a steady increase in its gold reserves and also its average gold reserve grade, by 62% and 27%, respectively, since 2011. The location of the Jessica vein is also important as it is connected to existing infrastructure.
07:18 EDTPPPPrimero Mining expects 2015 production increasing to 175K-185K Aug eq oz
07:17 EDTPPPPrimero Mining reports 2014 year-end gold Mineral Reserves down 9%
Primero Mining announced 2014 year-end gold Mineral Reserves declined by 9% from 2013 to 1.9M ounces of gold, mainly as a result of higher cut-off grades applied at Black Fox and San Dimas, combined with the impact of previously disclosed decline in ounces in the Black Fox open-pit. Gold Mineral Reserve grade at its platform San Dimas mine in Mexico was up 4% to 5.7 g/t, while underground gold Mineral Reserve grade was up 19% in to 7.5 g/t at its Black Fox mine near Timmins, Ontario. Primero has increased 2014 year-end gold and silver Measured and Indicated Mineral Resources by 1% and 4%, respectively, over 2013 year-end to include 3.2M ounces of gold and 82.5M ounces of silver. The company's 2015 $19M exploration program is focused on delineation in the first half of the year. Assuming success, the company may approve additional exploration expenditures for 2H15. The 2015 exploration program currently comprises 130,000 metres of drilling and 1,350 metres of exploration drifting.
March 17, 2015
14:35 EDTAAAlcoa to curtail 443,000 mtpy of alumina refining capacity at Suralco
Lightweight metals leader Alcoa announced that it plans to curtail 443,000 metric tons per year of alumina refining capacity at Suralco in Suriname. In addition, the company and the Government of Suriname have agreed to pursue a transaction for a Government-owned entity to acquire the Suralco operations. The curtailment and potential transaction are in line with Alcoa’s recent announcement to review upstream capacity for possible curtailment or divestiture and the company’s strategic goal to create a globally competitive commodity business. The curtailment, which represents one digester, is expected to be complete by April 30. Both parties now intend to pursue a transaction where a Government-owned entity would acquire Suralco, including the mining, refining and Afobaka hydroelectric operations. Following the appropriate due diligence, the parties are targeting to reach agreement on the proposed transaction by July 1. The company will work closely with unions and employees to reduce the impact of the curtailment on affected employees by offering fair severance packages. The Paranam refinery and related mining operations employ approximately 700 people, in addition to contracted personnel. The net financial impact associated with the curtailment is not expected to be material to the company’s earnings.
13:40 EDTFCXAmended settlement agreement announced between Credit Suisse, Freeport
On March 16, an Addendum to the Stipulation and Agreement of Settlement, Compromise and Release was entered into with respect to the consolidated stockholder derivative litigation captioned In Re: Freeport-McMoRan Copper & Gold (FCX) Derivative Litigation, C.A. No. 8145-VCN. The Addendum modifies the terms of the settlement in order to resolve potential derivative claims against Credit Suisse Securities (CS) in connection with its engagement to act as lead financial advisor to the Special Committee of the Board of Directors of Freeport-McMoRan with respect to the company’s 2013 acquisitions of Plains Exploration & Production Company and McMoRan Exploration Co., which potential claims were previously excluded from the settlement as set forth in the Stipulation and Agreement of Settlement, Compromise and Release filed on January 15. As set forth in the Addendum, the original settlement consideration will be increased by $16.25M, consisting of a $10M cash payment to the company by Credit Suisse, and a credit of $6.25M to be redeemable by the company in connection with future assignments Credit Suisse performs. The Supplemental Cash Amount, together with the original settlement amount, less plaintiffs’ attorneys’ fees and expenses as awarded by the Court of Chancery of the State of Delaware, will be distributed to the company’s stockholders as a special dividend. The settlement is subject to specified conditions, including final approval by the Court of Chancery of the State of Delaware. The settling defendants and Credit Suisse vigorously deny all allegations of wrongdoing or fault but entered into the settlement to avoid the costs and distraction of continued litigation.
09:34 EDTAAActive equity options trading on open
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07:08 EDTAAAlcoa weakness creates buying opportunity, says Stifel
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March 16, 2015
17:07 EDTFCXCredit Suisse to pay Freeport McMoRan $10M to settle allegations, WSJ says
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16:00 EDTAAOptions Update; March 16, 2015
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10:02 EDTRIOOn The Fly: Analyst Downgrade Summary
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10:02 EDTGGOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AmerisourceBergen (ABC) upgraded to Buy from Neutral at UBS... Avago (AVGO) upgraded to Buy from Neutral at DA Davidson... Francesca's (FRAN) upgraded to Buy at Janney Capital... Goldcorp (GG) upgraded to Overweight from Neutral at HSBC... Jabil Circuit (JBL) upgraded to Buy from Hold at Cross Research... JetBlue (JBLU) upgraded to Outperform at Raymond James... King Digital (KING) upgraded to Overweight from Neutral at JPMorgan... L.B. Foster (FSTR) upgraded to Outperform from Neutral at Macquarie... NextEra Energy (NEE) upgraded to Buy from Hold at Deutsche Bank... Petrobras Argentina (PZE) upgraded to Buy from Neutral at BofA/Merrill... Qorvo (QRVO) upgraded to Buy from Neutral at DA Davidson... Randgold (GOLD) upgraded to Overweight from Neutral at HSBC... Royal Gold (RGLD) upgraded to Overweight from Neutral at HSBC... Seagate (STX) upgraded at Needham... Standex (SXI) upgraded to Buy from Hold at BB&T... Union Pacific (UNP) upgraded to Outperform from Neutral at Macquarie... West Corp. (WSTC) upgraded to Outperform from Neutral at RW Baird... Xilinx (XLNX) upgraded to Buy from Hold at Drexel Hamilton... YPF (YPF) upgraded to Buy from Neutral at BofA/Merrill.
08:10 EDTRIORio Tinto downgraded to Neutral from Overweight at HSBC
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06:54 EDTGGGoldcorp upgraded to Overweight from Neutral at HSBC
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