Friday, June 10, 2011

Coverage on (AREX) (NOV) (GEL) (GST) (CAM) Initiated

Analysts initiated coverage on Approach Resources Inc. (NASDAQ: AREX), National-Oilwell Varco, Inc. (NYSE: NOV), Genesis Energy, L.P. (NYSE: GEL), Gastar Exploration (NYSE: GST) and Cameron International (NYSE: CAM).

BMO Capital Markets initiated coverage on Approach Resources Inc. (AREX). They placed a “market perform” rating on the company.

Societe Generale analysts initiated coverage on National-Oilwell Varco, Inc. (NOV). They placed a “buy” rating on the company.

Robert W. Baird initiated coverage on Genesis Energy, L.P. (GEL). They placed an “outperform” rating and a price target of $31.00 on the company.

BMO Capital Markets initiated coverage on Gastar Exploration (GST). They placed a “market perform” rating on the company.

Societe Generale initiated coverage on Cameron International (CAM). They placed a “buy” rating on the company.

Shares of (CXO) (OAS) (XG) (BEXP) (ICO) (WLL) Updated

Concho Resources Inc. (NYSE: CXO), Oasis Petroleum Inc. (NYSE: OAS), Extorre Gold Mines (NYSE: XG), Brigham Exploration (NASDAQ: BEXP), International Coal Group, Inc. (NYSE: ICO) and Whiting Petroleum Co. (NYSE: WLL) had their ratings updated by analysts.

Lazard Capital upgraded Concho Resources Inc. (CXO) from a “neutral” rating to a “buy” rating. They have a price target of $110.00 on the stock.

Wells Fargo & Co. (NYSE:WFC) upgraded Oasis Petroleum Inc. (OAS) from a “market perform” rating to an “outperform” rating.

Dahlman Rose upgraded Extorre Gold Mines (XG) from a “hold” rating to a “buy” rating.

Macquarie downgraded Brigham Exploration (BEXP) from an “outperform” rating to a “neutral” rating.

Dahlman Rose downgraded International Coal Group, Inc. (ICO) from a “buy” rating to a “hold” rating.

Ticonderoga downgraded Whiting Petroleum Co. (WLL) from a “buy” rating to a “neutral” rating.

Potash (POT) (CF) (MOS) (AGU) (MON) (DE) Jump on Record Corn Futures

Potash (NYSE:POT), CF Industries (NYSE:CF), Mosaic (NYSE:MOS), Agrium (NYSE:AGU) and Monsanto (NYSE:MON) close up as corn futures settle at record price.

Also climbing was Deere & Co. (NYSE:DE), as the manufacturer of farm, turf and lawn equipment usually moves up on positive agriculture news.

Corn futures soared to a new settlement price record, with the July front-month contract rising 21 cents, or 2.8 percent, to settle at $7.854 a bushel on the Chicago Board of Trade. It reached as high as $7.93 before pulling back.

Lower acreage planted in the U.S., rising demand from China, and weather-related crop damage is pushing the price of corn up.

Wasting corn supply on ethanol is also weighing on the corn equation.

Potash closed Thursday at $55.36, gaining $2.12, or 3.98 percent. CF Industries closed at $154.86, soaring $6.24, or 4.20 percent. Mosaic closed at $68.84, rising $3.18, or 4.84 percent. Agrium ended the day at $84.71, jumping $2.76, or 3.37 percent. Monsanto closed at $69.51, up $1.89, or 2.80 percent. Deere closed at $82.00, increasing $2.04, or 2.55 percent.

Barrick (ABX) (GG) (IAG) (EGO) (KGC) (NEM) Rise on Higher Gold Future Prices

IAMGOLD Corporation (NYSE:IAG), Eldorado Gold Corporation (NYSE:EGO), Kinross Gold (NYSE:KGC), Newmont (NYSE:NEM), Goldcorp (NYSE:GG) and Barrick Gold (NYSE:ABX) all closed in positive territory Thursday as gold futures continued to rise.

Gold futures for August delivery climbed $4 to $1,547.70 an ounce. Silver prices were also up, settling at $37.32 an ounce, a 2 percent gain.

NovaGold Resources Inc. (AMEX:NG) was among the few miners closing in negative territory.

The job market in the U.S. continues on its disastrous journey, as the number of people applying for unemployment benefits for the first time rose to 427,000 last week. Economists had been looking for the number to drop to 419,000. The number applying for jobless benefits rose from the prior week as well, being upwardly revised from 422,000 to 426,000.

Gold was also the benefactor of the decision by the European Central Bank in keeping its interest rate unchanged, although it hinted it may raise interest rates in July.

The European Central Bank kept its key interest rate at 1.25 percent. The Bank of England left its main interest rate unchanged at 0.50 percent, a record low.

Kinross Gold closed Thursday at $15.63, up $0.54, or 3.58 percent. Eldorado Gold Corporation closed at $14.46, gaining $0.39, or 2.77 percent. IAMGOLD Corporation ended the session at $20.97, rising $0.59, or 2.89 percent. Goldcorp closed at $47.59, jumping $0.57, or 1.21 percent. Barrick Gold ended the day at $44.40, climbing $0.08, or 0.18 percent. Newmont closed at $52.92, increasing $0.58, or 1.11 percent.

Thursday, June 9, 2011

Ratings on (SPWRA) (FST) (VSEA) (CLX) (GPS) Downgraded

Ratings on SunPower Co. (NASDAQ: SPWRA), Forest Oil Co. (NYSE: FST), Varian Semi (NASDAQ: VSEA), Clorox Co (NYSE: CLX) and The Gap Inc. (NYSE: GPS) downgraded by analysts.

Jefferies (NYSE:JEF) downgraded SunPower Co. (SPWRA) from a “buy” rating to a “hold” rating. They have a price target of $19.00 on the company, down from $26.00.

Susquehanna downgraded Forest Oil Co. (FST) from a “positive” rating to a “neutral” rating.

Barclays Capital downgraded Varian Semi (VSEA) from an “overweight” rating to an “equal weight” rating. They have a price target of $63.00 on the company, up from $52.00.

Morgan Stanley (NYSE:MS) downgraded Clorox Co (CLX) to an “underweight” rating. They have a price target of $63.00 on the company. They cited valuation as the catalyst behind the call.

Barclays Capital downgraded The Gap Inc. (GPS) from an “overweight” rating to an “equal weight” rating. They have a price target of $17.00 on the company, down from $22.00.

BP (BP) (HAL) (PBR) (ECA) (HES) Close Mixed on OPEC, Inventory

Shares of BP (NYSE:BP), Halliburton (NYSE:HAL), Petrobras (NYSE:PBR), Encana Corp. (NYSE:ECA) and Hess Corporation (NYSE:HES) closed mixed Wednesday, as inventory was down and OPEC couldn't reach a production agreement.

July crude oil climbed $1.65, or 1.67 percent on the New York Mercantile Exchange, settling at $100.74 a barrel, trading in a range of $98.02 to $101.89 on Wednesday.

U.S. gasoline stockpiles jumped 2.21 million barrels last week, more than expected, and distillate stocks increased by 810,000 barrels, against a projection for stocks to remain the same, according to the EIA.

The U.S. Energy Information Administration said crude stock in the U.S. fell 4.85 million barrels, the biggest drop since December 2010.

Hess Corporation closed Wednesday at $73.77, falling $0.76, or 1.02 percent. Encana ended the session at $32.70, down $0.13, or 0.40 percent. Petrobras closed at $32.84, gaining $0.20, or 0.61 percent. Halliburton ended the day at $47.69, dropping $0.41, or 0.85 percent. BP closed at $43.49, losing $0.51, or 1.16 percent.

Yamana (AUY) (NG) (AEM) (AU) (GFI) Close Down as Gold Prices Pressured

Agnico-Eagle (NYSE:AEM), AngloGold Ashanti (NYSE:AU), Gold Fields (NYSE:GFI), Yamana Gold (NYSE:AUY) and NovaGold Resources Inc. (AMEX:NG) all closed down in trading Wednesday as a stronger dollar slightly pressured precious metals and base metals.

Palladium closed down and platinum settled flat.

Concerns over the sovereign debt crisis in Europe outweighed U.S. dollar concerns, putting downward pressure on gold and other metals, as the greenback gained against the euro.

The most actively traded gold contract, for August delivery, dropped $5.30, or 0.3 percent, to settle Wednesday at $1538.70 an ounce on the Comex division of the New York Mercantile Exchange.

Silver for July delivery was down 1.2 percent to settle at $36.62 an ounce.

Overall, expectations are market conditions will continue to favor gold and silver prices, pushing them higher over the next several months.

NovaGold closed Wednesday at $10.34, falling $0.71, or 6.43 percent. Yamana ended the session at $11.76, dropping $0.26, or 2.16 percent. Gold Fields closed at $14.62, down $0.36, or 2.40 percent. AngloGold Ashanti ended the day at $43.08, declining $0.79, or 1.80 percent. Agnico-Eagle closed at $61.49, losing $2.28, or 3.58 percent.

Ratings on (NE) (NOG) (BHI) (COG) (CRZO) (ESV) Upgraded

Analysts upgraded ratings on Noble Corp (NYSE: NE), Northern Oil & Gas, Inc. (NYSE: NOG), Baker Hughes (NYSE: BHI), Cabot Oil & Gas (NYSE: COG), Carrizo Oil & Gas (NASDAQ: CRZO) and ENSCO PLC (NYSE: ESV).

Dahlman Rose upgraded Noble Corp (NE) from a “hold” rating to a “buy” rating. They have a price target of $48.00 on the company.

CapitalOne Southcoast upgraded Northern Oil & Gas, Inc. (NOG) from an “add” rating to a “strong buy” rating. They have a price target of $37.00 on the company.

Credit Agricole upgraded Baker Hughes (BHI) from an “outperform” rating to a “buy” rating.

Canaccord Genuity upgraded Cabot Oil & Gas (COG) from a “hold” rating to a “buy” rating. They have a price target of $85.00 on the company, up from $58.00.

Howard Weil upgraded Carrizo Oil & Gas (CRZO) from a “market perform” rating to an “outperform” rating. They have a price target of $50.00 on the company, up from $45.00.

Dahlman Rose upgraded ENSCO PLC (ESV) from a “hold” rating to a “buy” rating. They have a price target of $70.00 on the company.

Wednesday, June 8, 2011

Price Targets on (SCCO) (NWL) (STZ) (GR) (SUN) Updated

Analysts updated price targets on Southern Copper Corp (NASDAQ: SCCO), Newell Rubbermaid (NYSE: NWL), Constellation Brands, Inc. (NYSE: STZ), Goodrich Co. (NYSE: GR) and Sunoco Incorporated (NYSE: SUN).

Deutsche Bank (NYSE:DB) cut their price target on Newell Rubbermaid (NWL) to $21.00.

Societe Generale cut their price target on Southern Copper Corp (SCCO) to $42.00.

UBS AG (NYSE:UBS) raised their price target on Constellation Brands, Inc. (STZ) from $25.00 to $28.00. They have a “buy” rating on the company.

Morgan Stanley (NYSE:MS) raised their price target on Sunoco Incorporated (SUN) to $53.00. They have an “overweight” rating on the company.

Citigroup (NYSE:C) raised their price target on Goodrich Co. (GR) to $108.00. They have a “buy” rating on the company.

Ratings on (CVE) (CPO) (XLNX) (CRH) (PLD) Upgraded

Ratings on Cenovus Energy Inc (NYSE: CVE), Corn Products International, Inc. (NYSE: CPO), Xilinx, Inc. (NASDAQ: XLNX), CRH PLC (NYSE: CRH) and ProLogis (NYSE: PLD) were upgraded by analysts.

Macquarie upgraded Cenovus Energy Inc (CVE) from a “neutral” rating to an “outperform” rating.

Deutsche Bank (NYSE:DB) upgraded Corn Products International, Inc. (CPO) from a “hold” rating to a “buy” rating.

Goldman Sachs (NYSE:GS) upgraded Xilinx, Inc. (XLNX) from a “sell” rating to a “neutral” rating. They have a price target of $33.00 on the company.

Credit Suisse (NYSE:CS) upgraded CRH PLC (CRH) from a “neutral” rating to an “outperform” rating.

Bank of America (NYSE:BAC) upgraded ProLogis (PLD) from a “neutral” rating to a “buy” rating. They have a price target of $39.00 on the company, up from $37.00.

Chevron (CVX) (COP) (XOM) (PBR) (APC) Close Down as Oil Rallies Late in the Session

A late rally for oil prices wasn't enough to bolster giant oil stocks like Chevron (NYSE:CVX), ConocoPhillips (NYSE:COP), Exxon Mobil (NYSE:XOM), Petrobras (NYSE:PBR) and Anadarko (NYSE:APC), which all closed down on Tuesday.

Other energy giants like BP (NYSE:BP), Marathon Oil (NYSE:MRO) and Halliburton (NYSE:HAL) did manage to close in positive territory.

Crude for July delivery settled at $99.09 a barrel on the New York Mercantile Exchange, the first positive close in three days, gaining 8 cents. Earlier in trading the contract was down as low as $97.74. Oil is up by about 39 percent over the last year.

Brent crude for July delivery jumped $2.30, or 2 percent, to $116.78 a barrel on the London-based ICE Futures Europe exchange.

The U.S dollar weakened against the euro, with the euro reaching $1.4696. The dollar also fell against the Swiss franc to 0.8327. Against a basket of major currencies the dollar declined to 73.506.

Even with the collapsing dollar it wasn't enough to have a significant impact because of the offsetting effect of the assumption OPEC will boost production, and an anemic economy is expected to reduce demand.

The Dow Jones industrial average dropped 19.15 points, or 0.16 percent, to close at 12,070.81. The Standard & Poor's 500 Index fell 1.23 points, or 0.10 percent, to close at 1,284.94. The Nasdaq Composite Index declined 1.00 point, or 0.04 percent, to end the session at 2,701.56.

Anadarko closed Tuesday at $73.74, down $1.01, or 1.35 percent. Petrobras ended the day at $32.64, falling $0.34, or 1.03 percent. Exxon Mobil closed at $80.00, declining $0.29, or 0.36 percent. ConocoPhillips ended at $70.87, dropping $0.05, or 0.07 percent. Chevron closed at $99.47, losing $0.21, or 0.21 percent.

Yamana (AUY) (GG) (NEM) (EGO) (KGC) Close Down as Gold Prices Fall

Yamana Gold (NYSE:AUY), Goldcorp (NYSE:GG), Newmont Mining (NYSE:NEM), Eldorado Gold Corporation (NYSE:EGO) and Kinross Gold Corp (NYSE:KGC) all closed down as gold prices fell on Tuesday.

Gold for August delivery fell in New York to $1,544 an ounce, a loss of $3.20.

The euro strengthened against the U.S. dollar, to a high of $1.4696. The dollar was also down against the Swiss franc to 0.8327. Against a basket of major currencies the dollar dropped to 73.506.

The Dow Jones industrial average was down 19.15 points, or 0.16 percent, to close at 12,070.81. The Standard & Poor's 500 Index dropped 1.23 points, or 0.10 percent, to end at 1,284.94. The Nasdaq Composite Index fell 1.00 point, or 0.04 percent, to close at 2,701.56.

Yamana Gold closed Tuesday at $12.02, down $0.13, or 1.07 percent. Goldcorp ended the day at $47.99, falling $0.39, or 0.81 percent. Newmont Mining closed at $52.94, declining $0.50, or 0.94 percent. Eldorado Gold ended at $14.52, dropping $0.23, or 1.56 percent. Kinross closed at $15.44, losing $0.17, or 1.09 percent.

Tuesday, June 7, 2011

Ratings on (APC) (ADBE) (JNPR) (ORCL) (GLW) Reiterated

Ratings on Anadarko Petroleum (NYSE: APC), Adobe Systems (NASDAQ: ADBE), Juniper Networks (NASDAQ: JNPR), Oracle (NASDAQ: ORCL) and Corning Inc. (NYSE: GLW) were reiterated by analysts.

Deutsche Bank (NYSE:DB) reiterated a “buy” rating on Adobe Systems (ADBE).

Citigroup (NYSE:C) reiterated a “buy” rating on Anadarko Petroleum (APC).

Citigroup reiterated a “hold” rating on Corning Inc. (GLW).

Deutsche Bank reiterated a “hold” rating on Juniper Networks (JNPR).

Deutsche Bank reiterated a “hold” rating on Oracle (ORCL).

Ratings on (BTE) (LOW) (NOA) (SMG) (LO) Downgraded

Analysts downgraded ratings on Baytex Energy Corp (NYSE: BTE), Lowe’s (NYSE: LOW), North American Energy Partners Inc (NYSE: NOA), Scotts Miracle-Gro (NYSE: SMG) and Lorillard Inc. (NYSE: LO).

TD Newcrest downgraded Baytex Energy Corp (BTE) from a “buy” rating to a “hold” rating.

Morgan Stanley (NYSE:MS) downgraded Lorillard Inc. (LO) from an “overweight” rating to an “equal weight” rating. They have a price target of $105.00 on the company.

JPMorgan Chase & Co. (NYSE:JPM) downgraded Lowe’s (LOW) from an “overweight” rating to a “neutral” rating. They have a price target of $26.00 on the company.

Raymond James (NYSE:RJF) downgraded North American Energy Partners Inc (NOA) from an “outperform” rating to a “market perform” rating.

Ratings on (ZEUS) (WTI) (WY) (BYD) (SBUX) Upgraded by Analysts

Analysts upgraded ratings on W&T Offshore, Inc. (NYSE: WTI), Weyerhaeuser (NYSE: WY), Olympic Steel, Inc. (NASDAQ: ZEUS) Boyd Gaming (NYSE: BYD) and Starbucks (NASDAQ: SBUX).

BMO Capital Markets upgraded W&T Offshore, Inc. (WTI) from an “underperform” rating to a “market perform” rating.

DA Davidson upgraded Weyerhaeuser (WY) from an “underperform” rating to a “neutral” rating.

Davenport upgraded Olympic Steel, Inc. (ZEUS) from a “neutral” rating to a “buy” rating.

JPMorgan Chase & Co. (NYSE:JPM) upgraded Boyd Gaming ( BYD) from an “underweight” rating to a “neutral” rating.

BMO Capital Markets upgraded Starbucks (SBUX) from a “market perform” rating to an “outperform” rating.

AK Steel (AKS) Fined by Osha for Safety Record Violations

AK Steel (NYSE:AKS) has been fined by the Occupational Safety and Health Administration (OSHA) for alleged record-keeping violations associated with hearing problems related to work at its western Pennsylvania-based Butler Works facility. The fine is for $206,000.

Osha inspectors claim AK Steel was in willful violation four times and was guilty 6 times of violations of a lesser nature.

From 2007 to 2010, AK Steel is charged with not properly documenting the results of hearing tests which supposedly revealed employees from the company suffered from losses related to work.

AK Steel has 15 days to comply with the conclusions, contest the ruling and fine, or request a conference with the government agency.

AK Steel closed Monday at $14.41, falling $0.58, or 3.87 percent.

Monday, June 6, 2011

Denison (DNN) (CCJ) (USU) (URRE) Ready to Rebound?

Shares of Denison Mines Corp (AMEX:DNN), Cameco Corporation (NYSE:CCJ), USEC Inc. (NYSE:USU) and Uranium Resources, Inc. (NASDAQ:URRE), among other companies with significant uranium and nuclear exposure, have been taking a big hit since the middle of February and afterwards, as the earthquake and tsunami in Japan caused some damage to some of its nuclear reactors, which gave some pause to the industry, which had been flying high.

The most recent hiccup was the decision by Germany to shut all of its nuclear reactors by 2022, which resulted in a number of the companies taking another hit.

As Bill Gates recently stated, wind and solar may be "cute" industries, but nuclear is the future of energy, and is mostly the only choice to realistically meet the growing demands of the market.

In the U.S., natural gas is also a legitimate source, as the supply in the country is extraordinary, and could last for a century or more.

From the nuclear sector standpoint, Germany is irrelevant in the long term, as they only have 17 reactors, accounting for only about 5 percent of global uranium demand.

Other major nuclear demand comes from the U.S., which has 104 reactors; France with 58; and China, which has been on a huge nuclear built out, has 27 under construction at this time, another 50 in the planning phase, and 110 more proposed.

All that has happened is the time it'll take to get the new nuclear reactors operational may have been extended; at least that will be the official line fed to and reported by the media.

How many think that China and its vast need for energy has halted anything, no matter what they may assert to the media? They may have went over their safety measures, but the Japanese earthquake was a rare anomaly which can't really be planned for, and the idea we can live in a risk-free world is Utopian, not a reality.

So the nuclear industry will continue to grow quickly, although it will still be a long-term play for those investing in it, and will include a number of issues over the short term which will generate volatility, as in the case of Germany saying it's going to abandon nuclear.

Uranium Resources closed Friday at $1.73, falling $0.08, or 4.42 percent. USEC Inc. ended the session at $3.94, dropping $0.11, or 2.72 percent. Denison closed at $2.12, down $0.02, or 0.93 percent. Cameco Corporation closed at $28.15, declining $0.62, or 2.16 percent.

Ratings on (NTGR) (TA) (ARUN) (AVGO) (CYBX) Upgraded by Analysts

Analysts upgraded ratings on NetGear Inc (NASDAQ: NTGR), TravelCenters of America LLC (NYSE: TA), Aruba Networks, Inc. (NASDAQ: ARUN), Avago Technologies (NASDAQ: AVGO) and Cyberonics (NASDAQ: CYBX)

Lazard Capital upgraded NetGear Inc (NTGR) from a “neutral” rating to a “buy” rating.

Morgan Keegan upgraded TravelCenters of America LLC (TA) from a “market perform” rating to an “outperform” rating. They have a price target of $8.00 on the company, down from $10.00.

Barclays Capital upgraded Aruba Networks, Inc. (ARUN) from a “neutral” rating to an “overweight” rating. They have a price target of $33.00 on the company, up from $28.00.

Sterne Agee upgraded Avago Technologies (AVGO) from a “neutral” rating to a “buy” rating.

WBB Securities upgraded Cyberonics (CYBX) from a “buy” rating to a “strong buy” rating.

Ratings on (GEOI) (DRYS) (UA) (ENS) (FRX) Upgraded by Analysts

Analysts upgraded ratings on GeoResources, Inc. (NASDAQ: GEOI), DryShips Inc. (NASDAQ: DRYS), Under Armour, Inc. (NYSE: UA), EnerSys (NYSE: ENS) and Forest Laboratories, Inc. (NYSE: FRX).

Global Hunter Securities upgraded GeoResources, Inc. (GEOI) from a “neutral” rating to an “accumulate” rating.

Goldman Sachs (NYSE:GS) upgraded DryShips Inc. (DRYS) from a “neutral” rating to a “buy” rating. They have a price target of $6.00 on the company.

Longbow Research upgraded Under Armour, Inc. (UA) from a “neutral” rating to a “buy” rating. They have a price target of $82.00 on the company.

Ardour Capital upgraded EnerSys (ENS) from an “accumulate” rating to a “buy” rating. They have a price target of $42.00 on the company.

JPMorgan Chase & Co. (NYSE:JPM) upgraded Forest Laboratories, Inc. (NYSE: FRX) from a “neutral” rating to an “overweight” rating. They have a price target of $41.00 on the company.

Ratings on (KOG) (NE), (UPL) (WLL) (ENP) Upgraded by Analysts

Analysts upgraded ratings on Kodiak Oil & Gas Corp. (NYSE: KOG), Noble Corp (NYSE: NE), Ultra Petroleum Corp. (NYSE: UPL), Whiting Petroleum Co. (NYSE: WLL) and Encore Energy Partners (NYSE: ENP).

Global Hunter Securities upgraded Kodiak Oil & Gas Corp. (KOG) from a “neutral” rating to an “accumulate” rating.

FBR Capital upgraded Noble Corp (NE) from a “market perform” rating to an “outperform” rating. They have a price target of $55.00 on the company, up from $48.00.

CapitalOne Southcoast upgraded Ultra Petroleum Corp. (UPL) from a “neutral” rating to an “add” rating. They have a price target of $56.00 on the company, up from $50.00.

Global Hunter Securities upgraded Whiting Petroleum Co. (WLL) from a “neutral” rating to an “accumulate” rating.

Robert W. Baird upgraded Encore Energy Partners (ENP) from a “neutral” rating to an “outperform” rating. They have a price target of $25.00 on the company.

Friday, June 3, 2011

Southern Copper (SCCO) Upgraded by Barclays in Midst of Election Uncertainty

The slight decrease of the lead of Peruvian presidential candidate Keiko Fujimori over rival Ollanta Humala pressured metal stocks with exposure to Peru Wednesday, but that reversed Thursday as it appears the more business-friendly candidate will hold on to win the presidency of the country, prompting Barclays Capital to upgrade Southern Copper (NASDAQ: SCCO) from an “Underweight” rating to an “Equal Weight” rating.

Polls in the country showed on Thursday that Fujimori has 51 percent support compared with 49 percent for leftist nationalist Humala.

Humala has promised to renegotiate contracts with foreign companies if he is elected.

Southern Copper regained almost all it lost on Wednesday when it appeared Humala may gain the presidency.

A run off between the two candidates will be held on June 5.

SM Energy (NYSE: SM) Upgraded by Tudor Pickering

Tudor Pickering upgraded SM Energy (NYSE: SM) to a “Buy” rating, following its press release concerning the "divestiture and development of a material portion of its Eagle Ford shale position."

SM Energy also said it has entered into an amended five-year senior secured revolving credit facility, resulting in boosting the borrowing base of the company from $1.0 billion to $1.3 billion

Tony Best, President and CEO, said, “We are pleased that we have reached this phase of our Eagle Ford marketing effort. Our oft-stated goal is to create value for our stockholders and we believe that a meaningful sell-down of our Eagle Ford position, when completed, will further enhance our ability to achieve that goal. The non-core asset sale and amended credit facility that we are announcing today further strengthen our already strong liquidity position and balance sheet. Our robust inventory of high-return projects and solid financial standing are a winning combination that will benefit our stockholders for years to come.”

Natural gas futures settled Thursday at $4.794 a million British thermal units on the New York Mercantile Exchange, climbing 16.5 cents, or 3.6 percent.

SM Energy Company participates in the acquisition, exploration, development, and production of natural gas and crude oil in North America.

SM Energy closed Thursday at $68.76, rising $1.02, or 1.51 percent.

MarkWest (MWE) Price Target Boosted as Natural Gas Reaches 10-Month High

Shares of MarkWest Energy Partners (NYSE: MWE) rose on the heels of its price target being raised by Morgan Stanley (NYSE:MS) and natural gas prices surging to a 10-month high.

The price of natural gas rose after the amount of fuel in storage was lower than expected, according to data released by the Department of Energy.

Most of this came from the shutting down of nuclear power plants for maintenance, which generated larger demand for electricity powered by natural gas, dipping into supply as the first big heat wave of the summer hit several regions of the U.S.

Natural gas futures settled at $4.794 a million British thermal units on the New York Mercantile Exchange, gaining 16.5 cents, or 3.6 percent.

So far in 2011 natural gas has risen 8.8 percent, while crude oil is up 9.9 percent.

Expectations are natural gas demand will remain strong for the next couple of weeks based on hot weather predictions.

Morgan Stanley raised their price target on MarkWest Energy Partners to $52.00

MarkWest closed Thursday at $47.43, up $0.28, or 0.59 percent.

Marathon Oil (MRO) Retains "Buy" Rating as it Targets Eagle Ford

Deutsche Bank (NYSE:DB) analysts like what they see with Marathon Oil (NYSE:MRO), reiterating its "Buy" rating on the company.

The integrated energy company, with operations mostly in North America, Europe and Africa, announced it has come to an agreement to acquire acreage in the Eagle Ford shale formation in South Texas from Hilcorp Resources Holdings, L.P. for $3.5 billion.

Hilcorp, the company Marathon is acquiring the acreage from, is backed by private equity firm Kohlberg Kravis Roberts & Co. (NYSE:KKR).

As for oil prices, light sweet crude for delivery in July, fought back from big losses and closed 11 cents up at $100.40 a barrel.

In London, Brent North Sea crude for July settled at 115.54 a barrel, jumping $1.01 from Wednesday's close.

Higher prices has pressured gasoline, as consumers appear to be significantly cutting back on travel and spending heading into summer, as gas reserves rose higher then anticipated. Oil inventories were also expected to fall, but instead jumped by 2.9 million barrels.

Marathon closed Thursday at $52.51, falling $0.14, or, 0.27 percent.

Thursday, June 2, 2011

Cliffs (CLF) Retains "Buy" Rating from Dahlman Rose

Cliffs Natural Resources Inc (NYSE: CLF) had its "Buy" rating maintained on it by Dahlman Rose even though they lowered their earnings estimates on the company.

Dahlman Rose wrote in a note to clients, "Despite our lower earnings estimates we continue to see compelling value in the shares. We believe the company's move to gain further diversification into the seaborne iron ore market may warrant the shares trading at a higher multiple over time. In fact, given the more balanced revenue generating capability that the company now has with more exposure to emerging markets, we believe that we are being extremely conservative in applying a 5.0x EV/EBITDA multiple to our 2012 EBITDA estimate of $4.1 billion to derive our price target of $120, as the shares have historically traded at 7x forward EBITDA. We reiterate our Buy rating on Cliffs Natural Resources shares."

Cliffs was trading at $88.85, gaining $0.94, or 1.07 percent, as of 2:15 PM EDT.

Endeavour Silver (EXK) Seeking More Silver, Gold in Mexico

Endeavour Silver (NYSE:EXK) announced it has acquired "several new properties covering an unexplored vein system at the south end of the Guanacevi mining district in Durango State, Mexico."

The miner said the acquisitions will give them over three times the prior holdings they had in the Guanacevi district.

Dubbed the La Brisa properties, it is located about 10 kilometers from its existing Porvenir silver-gold mine, which they've been working since 2004.

Endeavour vice president of corporate development, Hugh Clarke, said, "We've scoured this district for acquisitions and we're always looking for more. We know what we want."

The company said in a press release, "The La Brisa veins are considered to be prospective for new high grade silver-gold discoveries because the surface vein exposures appear to be well above the classic 'bonanza' ore horizon such as is found at Endeavour's mines elsewhere in the Guanacevi district."

This is part of the Endeavour business model of acquiring underutilized mines in districts known for silver deposits and searching for silver in areas close to those operating mines.

Endeavour was trading at $9.55, down $0.33, or 3.34 percent, as of 11:18 AM EDT.

Ratings on (YHOO) (ACI) (GEVO) (NVLS) (OMCL) Reiterated

Ratings on Yahoo! Inc. (NASDAQ: YHOO), Arch Coal, Inc. (NYSE: ACI), Gevo, Inc. (NASDAQ: GEVO), Novellus Systems, Inc. (NASDAQ: NVLS) and Omnicell, Inc. (NASDAQ: OMCL) were reiterated by analysts.

Bank of America (NYSE:BAC) reiterated a “buy” rating on Yahoo! Inc. (YHOO).

BMC Equities Research reiterated a “buy” rating on Arch Coal, Inc. (ACI). They have a price target of $43.00 on the company.

Piper Jaffray (NYSE:PJC) reiterated an “overweight” rating on Gevo, Inc. (GEVO).

Bank of America reiterated a “buy” rating on Novellus Systems, Inc. (NVLS).

Auriga reiterated a “buy” rating on Omnicell, Inc. (OMCL).

Analysts' Responses to Nokia (NOK) Transition Woes

Nokia (NYSE:NOK), unsurprisingly, experienced several downgrades and a lowering of its price target from analysts, as the company announced it is struggling with its lower-end mobile phone models as it transitions to the Windows Phone 7 platform of Microsoft (NASDAQ:MSFT) for the more profitable smartphone segment.

Wedbush slashed their price target on Nokia Co. (NOK) from $8.50 to $7.00. They have a “neutral” rating on the company.

Sanford C. Bernstein downgraded Nokia Co. from a “market perform” rating to an “underperform” rating.

Canaccord Genuity downgraded Nokia Co. from a “buy” rating to a “hold” rating. They have a price target of $8.00 on the company, down from $11.00.

Goldman Sachs (NYSE:GS) downgraded Nokia Co. from a “buy” rating to a “neutral” rating.

WestLB downgraded Nokia Co. from a “neutral” rating to a “reduce” rating.

Hecla (HL) (SLW) (EXK) (AG) (CDE) (SVM) Trade Down on Falling Silver Prices

Shares of Silver Wheaton (NYSE:SLW), Hecla Mining (NYSE:HL), Endeavour Silver (AMEX: EXK), First Majestic (NYSE:AG), Coeur d'Alene Mines (NYSE:CDE) and Silvercorp Metals Inc. (NYSE:SVM) all closed down Wednesday on falling silver prices.

A dismal employment report from the ADP sowing only 38,000 new jobs were added in May pressured silver down, while its precious metal cousin gold jumped on the economic news.

Also pressuring silver prices down were the weak manufacturing data coming out of China, the EU and America.

Silver for July delivery dropped 61.1 cents to settle at $37.694 an ounce. Gold for August delivery rose $6.40 to settle at $1,543.20 an ounce.

Silver prices will continue to be volatile as usual, as competing forces weigh on the precious and industrial metal.

Silvercorp Metals Inc. closed Wednesday at $10.95, falling $0.20, or 1.79 percent. First Majestic ended the session at $20.25, down $0.89, or 4.21 percent. Coeur d'Alene Mines (NYSE:CDE) closed at $26.29, dropping 1.28, or 4.64 percent. Hecla Mining closed at $8.14, declining $0.35, or 4.12 percent. Silver Wheaton ended the trading day at $35.93, plunging $0.82, or 2.23 percent. Endeavour Silver fell to $9.88, down $0.41, or 3.98 percent.

iShares Silver Trust (NYSE:SLV) ended at $35.75, lower by $1.85, or 4.92 percent.

Ratings on (ACI) (BIIB) (COO) (CSCO) (EXAC) Reiterated

Ratings on Arch Coal, Inc. (NYSE: ACI), Biogen Idec Inc. (NASDAQ: BIIB), The Cooper Companies, Inc. (NYSE: COO), Cisco Systems, Inc. (NASDAQ: CSCO) and Exactech, Inc. (NASDAQ: EXAC) were reiterated by analysts.

JPMorgan Chase & Co. (NYSE:JPM) reiterated an “overweight” rating on Arch Coal, Inc. (ACI).

Jefferies (NYSE:JEF) reiterated a “buy” rating on Biogen Idec Inc. (BIIB).

Morgan Keegan reiterated an “outperform” rating on The Cooper Companies, Inc. (COO).

Oppenheimer reiterated an “outperform” rating on Cisco Systems, Inc. (CSCO).

Duncan Williams reiterated a “buy” rating on Exactech, Inc. (EXAC).

NovaGold (NG) (GG) (NEM) (GFI) (ABX) Lag Rising Gold Prices

NovaGold Resources Inc. (AMEX:NG), Goldcorp (NYSE:GG), Newmont Mining (NYSE:NEM), Gold Fields (NYSE:GFI) and Barrick Gold (NYSE:ABX) all closed down Wednesday, lagging behind rising gold prices responding to a fragile and weak American economy, as well as weak manufacturing numbers from China and the EU.

Gold and silver went in opposite directions on Wednesday after an employment report from the ADP said an anemic 38,000 jobs were added in May, while the figure for April was downwardly revised by 2,000.

Weak manufacturing numbers from China, the U.S. and the European Union pressed on silver, although it did gain some back as the trading day advanced.

News that Germany may get behind another bailout of the insolvent Greece was also considered a positive by the market, and could put some pressure on gold if the €60 billion expected to be lent to Greece is put into effect.

The realization the United States is in fact not in a recovery is counteracting the positive news out of Europe, and will probably be a stronger determining factor in gold and silver prices than any other consideration.

Gold for August delivery climbed $6.40 to $1,543.20 an ounce. Silver for July delivery was down 61.1 cents to settle at $37.694 an ounce.

Kinross Gold was able to close slightly in positive territory on Wednesday. Most of the major gold miners were trading up after hours.

Barrick closed at $47.28, falling $0.48, or 1.01 percent. NovaGold ended the session at $11.23, dropping $0.23, or 2.01 percent. Newmont closed at $55.67, down $0.90, or 1.59 percent. Goldcorp was at $49.46, declining $0.61, or 1.22 percent. Gold Fields ended at $16.05, falling $0.39, or 2.37 percent.

Wednesday, June 1, 2011

Alpha (ANR), Massey (MEE) Merger Approved by Shareholders

After two courts cleared the way for the merger between Alpha Natural Resources (NYSE:ANR) and Massey Energy (NYSE:MEE) to be consummated, shareholders of both companies also voted their approval for the $7 billion acquisition to go forward.

The new Alpha Natural Resources will become the second largest holder of coal reserves in the United States as a result of the merger with Massey.

On a global level, Alpha will be among the supply leaders for metallurgical coal.

Overall the new entity will operate 150 coal mines and 40 preparation plants.

Massey was trading at $65.81, falling $0.20, or 0.32 percent. Alpha Natural Resources was at $54.55, down $0.24, or 0.44 percent, as of 12:30 PM EDT.

SPDR (GLD) (IAU) (DGL) (DGP) Trading Up as Gold Rises

SPDR Gold Trust (NYSE:GLD), iShares COMEX Gold Trust (NYSE:IAU), PowerShares DB Gold (NYSE:DGL) and DB Gold Double Long ETN (NYSE:DGP) were trading up today as gold prices rebounded after more dismal economic news.

Job growth in the private sector plummeted in May, dropping to its lowest level in eight months. Investors are now looking to a monthly government report on Friday.

Gold was down earlier in the day after the latest news from Europe where the EU is looking to offer a second bailout package for Greece, which strengthened the euro.

Many clueless investors thought this was positive at the time and didn't focus on consequences it had on the U.S. dollar.

Credit Suisse (NYSE:CS) analyst Tom Kendall noted, "A resolution, which is expected now in the next two to three weeks, should take some of the froth off gold but it's swinging around on sentiment at the moment and swinging around on the foreign exchange markets."

SPDR Gold Trust was trading at $150.60, up $0.96, or 0.64 percent, as of 11:14 AM EDT. iShares COMEX Gold Trust was at $15.07, up $0.10, or 0.67. PowerShares DB Gold was at $54.15, rising $0.29, or 0.54 percent. DB Gold Double Long ETN was trading at $49.49, up $0.62, or 1.27 percent.

Marathon Oil (MRO) Acquiring Oil, Gas Fields in Texas for $3.5 Billion

Marathon Oil (NYSE:MRO) announced it will spend $3.5 billion to acquire natural gas and oil properties in Texas, as it attempts to increase production from inland sources.

The energy giant made the agreement with partnership Hilcorp Resources.

Marathon said its goal is to increase current production of 7,000 barrels of oil equivalent per day to 80,000 barrels per day by 2016. They'll do that by drilling new wells on the approximate 141,000 acres they're purchasing in the Eagle Ford shale formation.

According to Marathon, at this time the existing 36 wells on the property are for the most part producing crude oil and condensate.

The company added that with other acquisitions in Eagle Ford this year the combined acreage they own there will rise to about 285,000 net acres.

Marathon was trading at $53.11, falling $1.06, or 1.96 percent, as of 10:11 AM EDT.

Ratings on (MOS) (POT) (RDN) (TOL) (TZOO) Upgraded

Ratings on The Mosaic Company (NYSE: MOS), Potash Corp (NYSE: POT), Radian Group Inc. (NYSE: RDN), Toll Brothers, Inc. (NYSE: TOL) and Travelzoo Inc. (NASDAQ: TZOO) were upgraded by analysts.

Citigroup (NYSE:C) upgraded The Mosaic Company (MOS) from a “hold” rating to a “buy” rating. They have a price target of $85.00 on the company.

Citigroup upgraded Potash Corp (POT) from a “hold” rating to a “buy” rating. They have a price target of $67.00 on the company.

Piper Jaffray (NYSE:PJC) upgraded Radian Group Inc. (RDN) from a “neutral” rating to an “overweight” rating.

JMP Securities upgraded Toll Brothers, Inc. (TOL) from a “market perform” rating to an “outperform” rating.

Morgan Keegan upgraded Travelzoo Inc. (NASDAQ:TZOO) from a “market perform” rating to an “outperform” rating. They have a price target of $101.00 on the company.

Ratings on (EGN) (FOE) (FST) (GD) (HTGC) Upgraded

Ratings on Energen (NYSE: EGN), Ferro Co. (NYSE: FOE), Forest Oil Co. (NYSE: FST), General Dynamics (NYSE: GD) and Hercules Tech. (NASDAQ: HTGC) were upgraded by analysts.

Capstone upgraded Energen (EGN) from a “hold” rating to a “buy” rating. They have a price target of $72.00 on the company.

Deutsche Bank (NYSE:DB) upgraded Ferro Co. (FOE) from a “hold” rating to a “buy” rating. They now have a price target of $15.00 on the company.

Jefferies (NYSE:JEF) upgraded Forest Oil Co. (FST) from a “hold” rating to a “buy” rating. They have a price target of $37.00 on the company, up from $36.00.

SunTrust (NYSE:STI) upgraded General Dynamics (GD) from a “neutral” rating to a “buy” rating.

Lazard Capital upgraded Hercules Tech. (HTGC) from a “neutral” rating to a “buy” rating. They have a price target of $12.00 on the company.

Ratings on (BPZ) (BRCM) (CIS) (CVLT) (EBAY) Upgraded

BPZ Resources, Inc. (NYSE: BPZ), Broadcom Corp (NASDAQ: BRCM), Camelot Information Systems Inc (NYSE: CIS), Commvault Systems (NASDAQ: CVLT) and eBay, Inc. (NASDAQ: EBAY) were upgraded by analysts.

SunTrust (NYSE:STI) upgraded BPZ Resources, Inc. (BPZ) from a “neutral” rating to a “buy” rating.

BMO Capital Markets upgraded Broadcom Corp (BRCM) from a “market perform” rating to an “outperform” rating.

Susquehanna upgraded Camelot Information Systems Inc (CIS) from a “neutral” rating to a “positive” rating. They have a price target of $21.00 on the company.

Avian upgraded Commvault Systems (CVLT) from a “neutral” rating to a “positive” rating.

ThinkEquity upgraded eBay, Inc. (EBAY) from a “hold” rating to a “buy” rating. They have a price target of $38.00 on the company.

Vale's (VALE) Short and Long-Term Outlook Seems Strong

The short and long-term prospects of Vale SA (NYSE:VALE) look solid, although there is the overhand and uncertainty surrounding the interference of the socialist government of Brazil and what it may do in any given circumstance they disapprove of, like the direction former CEO Roger Agnelli was taking the company, which resulted in the Brazilian government pressuring the company to replace him with its man, Murilo Ferreira, who is now CEO of the resources company.

Other than the risk of the Brazilian government, the sector itself looks solid in the near and long term, with the company looking to double production capacity over the five or six years.

The other major risk to the company is its currency, which the company is heavily exposed to because about 65 percent of costs are in reais.

In the very short term iron ore prices are expected to remain unchanged, although they are still sitting near record highs.

Vale Chief Executive Officer Murilo Ferreira said, "The price will remain practically unchanged for the third quarter."

Concerning credit tightening in China, Ferreira added, "I don't believe in a slowdown in China, but rather a movement in the economic cycle. I expect a strong second semester for China."

Analysts also see strong Chinese demand and supply challenges offering support to the company.

Goldman Sachs (NYSE:GS) raised their price target on Vale (VALE) to $44.00. They have a “buy” rating on the company.

Vale closed Tuesday at $32.26, gaining $0.38, or 1.19 percent.

Ratings on (AER) (AMAG) (APC) (BEN) (BIG) Upgraded

Aercap Holdings N.V. (NYSE: AER), AMAG Pharmaceuticals, Inc. (NASDAQ: AMAG), Anadarko Petroleum (NYSE: APC), Franklin Resources, Inc. (NYSE: BEN) and Big Lots, Inc. (NYSE: BIG) were upgraded by analysts.

JPMorgan Chase & Co. (NYSE:JPM) upgraded Aercap Holdings N.V. (AER) from a “neutral” rating to an “overweight” rating.

Robert W. Baird upgraded AMAG Pharmaceuticals, Inc. (AMAG) from a “neutral” rating to an “outperform” rating. They have a price target of $22.00 on the company, up from $19.00.

Wells Fargo & Co. (NYSE:WFC) upgraded Anadarko Petroleum (APC) from a “market perform” rating to an “outperform” rating.

Bank of America (NYSE:BAC) upgraded Franklin Resources, Inc. (BEN) from a “neutral” rating to a “buy” rating. They have a price target of $156.00 on the company.

ThinkEquity analysts upgraded shares of Big Lots, Inc. (NYSE: BIG) from a “hold” rating to a “buy” rating. They now have a $38.00 price target on the company.

Citigroup (C) Likes (MOS) (POT) in Fertilizers

Fertilizer companies are getting a more bullish outlook from Citigroup (NYSE:C), as Potash Corp. (NYSE:POT) and Mosaic (NYSE:MOS) are considered to be desirable at this time because of attractive valuations and stronger fundamentals, according to Citigroup analyst P.J. Juvekar.

Particularly noted by Juvekar was the was declining fertilizer exports from China and sustainable pricing strength.

Juvekar wrote in a note to clients, “According to the USDA farm income is expected to increase 20% this year, which should incentivize farmers to fully fertilize this fall. High commodity prices and the relatively gradual pace of fertilizer price increases have reduced the share of revenue that growers need to spend on fertilizers. The USDA estimates that this share will decline to 10.3% this year, well below the recent peak of 12.1% in 2008. This suggests that farmers have the financial wherewithal to absorb current fertilizer prices and even potentially higher prices, should crop prices remain elevated.”

Short term there appears to be little concern over lower utilization rates because of wet and cooler weather, as well as lower acreage planted, for corn. Over the long term it's considered a positive for the sector.

He raised his ratings on both companies from a "Hold" to a "Buy." Price targets on Potash was boosted to $67, while Mosaic was increased to $85.