Newmont (NEM) (IAG) (KGC) (EGO) (ABX) (AEM) (AUY) Had Ratings on Them Initiated

Newmont Mining Co. (NEM), IAMGOLD Corp. (IAG), Kinross Gold Corp. (KGC), Eldorado Gold Co. (EGO), Barrick Gold Corp. (ABX), Agnico-Eagle Mines Limited (AEM), Yamana Gold (AUY) had ratings on them initiated by analysts.

Barclays Capital initiated coverage on Newmont Mining Co. (NEM). They placed an "Overweight" rating and price target of $73.00 on the company.

Barclays Capital initiated coverage on IAMGOLD Corp. (IAG). They placed an "Equal Weight" rating and price target of $19.00 on the company.

Barclays Capital initiated coverage on Kinross Gold Corp. (KGC). They placed an "Equal Weight" rating and price target of $13.00 on the company.

Barclays Capital initiated coverage on Eldorado Gold Co. (EGO). They placed an "Equal Weight" rating and price target of $18.00 on the company.

Barclays Capital initiated coverage on Barrick Gold Corp. (ABX). They placed an "Equal WeightThey placed an "Equal Weight" rating and price target of $52.00 on the company.

Barclays Capital initiated coverage on Agnico-Eagle Mines Limited (AEM). They placed an "Equal Weight" rating and price target of $62.00 on the company.

Barclays Capital initiated coverage on Yamana Gold (AUY). They placed an "Overweight" rating and price target of $25.00 on the company.

Is Goldcorp (GG) a Good Deal at This Time?

Goldcorp (NYSE:GG) is one of largest gold miners in the world, although it has had a tough year in 2012, having just recently surpassed its price on January 1 of the year.

Lower gold prices and higher costs throughout the year have weighed on the company, although a rebound since the latter part of July where it was trading for under $33 a share has helped the company, as expectations of further stimulus, which were of course accurate assessments, helped push the price of gold up, along with its share price.

As measured by global resources, Goldcorp has one of the least expensive valuations of the gold miners. Others having competitive valuations based upon the same criteria are Eldorado Gold (EGO) and IAMGOLD (NYSE: IAG)

Also hindering the company for 2012 have been the drought which slowed production at its Penasquito mine, and also its Red Lake mine, where seismic activity interfered as well.

One positive for the year, and also going forward, is the 41 percent stake Goldcorp holds in Primero Mining (NYSE: PPP), which is poised to benefit Goldcorp as production at its San Dimas mine closes in on meeting full expectations.

With gold assuredly about to jump in the next several years, and support in place because of the open-ended QE3 implemented by the Federal Reserve and Ben Bernanke, it may be a good time to get in Goldcorp at a decent price before the temporary impact on its two major mines are over, and the price of gold begins to shoot up.

Once that happens, it's unlikely we'll see Goldcorp and some of the other miners at these prices again for some time to come.


 

Alpha (ANR) (EGO) (WFT) (CLD) (CNX) (ECA) (SNP) Ratings, Price Targets

Alpha Natural Resources (ANR), Eldorado Gold Co. (EGO), Weatherford (WFT), Cloud Peak Energy (CLD), CONSOL Energy Inc. (CNX), EnCana Co. (ECA) and China Petroleum and Chemical (SNP) had ratings and price targets on them adjusted by analysts.

Nomura upgraded Alpha Natural Resources (ANR) from a "Neutral" rating to a "Buy" rating. $20.00

BMO Capital upgraded Markets Eldorado Gold Co. (EGO) from a "Market Perform" rating to a "Outperform" rating. $18.50 $20.00

Raymond James downgraded Weatherford (WFT) from a "Strong-Buy" rating to a "Underperform" rating.

Credit Suisse downgraded Cloud Peak Energy (CLD) from an "Outperform" rating to a "Neutral" rating.

Credit Suisse downgraded CONSOL Energy Inc. (CNX) from an "Outperform" rating to a "Neutral" rating. $40.00

Credit Suisse downgraded EnCana Co. (ECA) from an "Outperform" rating to a "Neutral" rating.

Credit Suisse downgraded China Petroleum and Chemical (SNP) from an "Outperform" rating to a "Neutral" rating.

Vale (VALE) (EGO) (GEOI) (CXPO) (EOG) (APC) Ratings, Price Targets

Vale (NASDAQ: VALE), Eldorado Gold Co. (NYSE: EGO), GeoResources, Inc. (NASDAQ: GEOI), Crimson Exploration (NASDAQ: CXPO), EOG Resources (NYSE: EOG) and Anadarko Petroleum (NYSE: APC) ratings and price targets.

Eldorado Gold Co. (EGO) was upgraded by UBS AG (NYSE:UBS) from a “Neutral” rating to a “Buy” rating.

Vale (VALE) was downgraded by UBS AG from a “Buy” rating to a “Neutral” rating.

GeoResources, Inc. (GEOI) was downgraded by Sidoti from a “Buy” rating to a “Neutral” rating.

Crimson Exploration (CXPO) had its price target raised by Rodman & Renshaw to $3.75.

EOG Resources (EOG) is now covered by Bank of America (NYSE:BAC). They have a “Neutral” rating on the company.

Anadarko Petroleum (APC) was upgraded by Raymond James (NYSE:RJF) from an “Outperform” rating to a “Strong Buy” rating.

Wynn (WYNN) (ALTR) (CVA) (EGO) (STX) (CMP) Upgraded

Wynn Resorts, Limited (NASDAQ: WYNN), Altera (NASDAQ: ALTR), Covanta (NYSE: CVA), Eldorado Gold Co. (NYSE: EGO) and Seagate (NYSE: STX) had analyst upgrades.

BMO Capital Markets upgraded Wynn Resorts, Limited (WYNN) from a “Market Perform” rating to an “Outperform” rating.

Credit Agricole upgraded Altera (ALTR) from an “Outperform” rating to a “Buy” rating.

Ardour Capital upgraded Covanta (CVA) from an “Accumulate” rating to a “Buy” rating. They placed a $21.00 price target on the stock.

Canaccord Genuity upgraded Eldorado Gold Co. (EGO) to a “Buy” rating.

Robert W. Baird upgraded Seagate (STX) from a “Neutral” rating to an “Outperform” rating. They have a $17.00 price target on the stock, an increase from $13.00.

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.

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.

Newmont (NEM) (GG) (ABX) (NG) (EGO) Trade Higher as Gold Jumps

A weakened U.S. dollar and dismal data about an 11.6 percent drop in pending home sales has offered gold and silver prices support today, with major miners like Newmont Gold (NYSE:NEM), Goldcorp (NYSE:GG), Barrick Gold (NYSE:ABX), Novagold (NYSE:NG) and Eldorado Gold (NYSE:EGO) all trading in positive territory.

Gold for June delivery was up $10.60 to $1,533.40 an ounce at the Comex division of the New York Mercantile Exchange. It has traded in a range of $1,518.40 to $1,535.50.

Silver prices were climbing 64 cents to $37.97 an ounce while the U.S. dollar index fell to $75.08, losing 0.66 percent.

Kitco.com senior analyst Jon Nadler said he believes thinks gold will have to wait to gain momentum until after Memorial Day weekend. "I think you're looking at bargain hunters in the $1,480-$1,500 range in gold but again we have to overcome decisively the $1,530-$1,540 area until we can talk about higher levels."

Eldorado Gold was trading at $16.07, gaining $0.26, or 1.64 percent, as of 12:36 PM EDT. NovaGold was at $11.53, up $0.24, or 2.17 percent. Newmont Mining was trading at $56.62, rising $0.79, or 1.42 percent. Goldcorp was at $50.19, climbing $0.26, or 0.52 percent. Barrick Gold was at $47.63, jumping $0.46, or 0.98 percent.

Credit Suisse (NYSE:CS) Downgrades Eldorado (NYSE:CS)

Although Eldorado Gold (NYSE:EGO) has been moving up nicely for some time, it seems part of that movement, over the last couple of months, was the expectation they would end up with Andean Resources (TSE:AND).

Now that they presumably lost that battle to Goldcorp (NYSE:GG), some of the luster has come off the stock, and consequently they were downgraded by Credit Suisse (NYSE:CS) from "Outperform" to "Neutral."

After a slow start in yesterday's session, Eldorado did rebound nicely as the broader upward movement of gold prices helped pull many gold miners with it.

They closed Tuesday at $19.29, gaining $0.19, or 0.99 percent.

Eldorado (NYSE:EGO), Barrick (NYSE:ABX), Goldcorp (NYSE:GG) Soar as Investors Flock to Gold

The realization we've never left the recession is starting to be realized by a growing number of investors, and gold miners like Eldorado Gold Corp. (NYSE:EGO), Barrick Gold (NYSE:ABX) and Goldcorp (NYSE:GG) are soaring today as gold prices continue their upward march with investors seeking safety.

Gold prices are approaching two-month highs, up to $1,240, a gain of $10.20, as of 1:15 PM EDT.

Continuing bad news concerning the economy is the major reason for the resumption in gold prices surging upward. As the stimulus money leaves the system the underlying weakness is again in the face of investors who see it did nothing but hide the economic disaster, rather than do anything to help.

And calls for more stimulus have people extremely worried as economic report after economic report, including the plunge in sales of previously-owned homes plunging, and a record low in sales of new homes, which plunged to an annual rate of 276,600, along with a 12.4 percent decline in July.

A report from the Commerce Department also revealed orders for durable goods failed to meet expectations, indicating continued weakness in the manufacturing sector.

Gold prices today show the future pattern, and gold mining companies will be the beneficiaries of this strong move as the disaster the economy really is becomes to be understood more fully by investors, who will increasingly use gold investments as a safe haven.

Eldorado Gold (NYSE:EGO) Fastest Growing Company in 2010

It's interesting and not all that surprising that the usual fastest-growing company in 2010 isn't a tech company, but rather, a gold miner. In this case, Eldorado Gold (NYSE:EGO), according to Fortune Magazine's list of the '100 Fastest-Growing Companies for 2010.'

Surprisingly, Eldorado Gold was the only gold miner on the list, although if gold prices continue to rise as they're expected to, that should change.

One problem that is accompanying the rise in gold prices, especially for smaller and mid-tier miners, is that costs have been rising along with prices, and these miners usually are highly leveraged and unable to control costs in the way better-positioned gold miners like Eldorado are, or major miners like Barrick Gold (NYSE:ABX), Newmont Mining (NYSE:NEM) and Goldcorp (NYSE:GG) are able to, although even there some are struggling more than in the past.

For Eldorado, their competitive advantage is their position in China, where they are able to produce gold at lower costs than their competitors who either aren't exposed there, or have limited exposure.

There is also the increase in demand from China, which is now the fastest-growing consumer of gold in the world, and second in consumption only behind India.

With that in mind and Eldorado strongly positioned to supply growing demand at low costs, they should have a solid future in reference to growth, assuming they can keep costs under control.

Eldorado Gold (NYSE:EGO), Yamana Gold (NYSE:AUY), Iamgold (NYSE:IAG) All Down on Week

Mid-tier gold miners Eldorado Gold (NYSE:EGO), Yamana Gold (NYSE:AUY), Iamgold (NYSE:IAG) were never able to recover from the plunge in gold prices Monday, as gold investors took profits, and prices fell.

Even Goldcorp (NYSE:GG) wasn't able to recover to where they started the week at, although major competitors Newmont Mining (NYSE:NEM) and Barrick Gold (NYSE:ABX) ended the week up.

If it wasn't for the strong finish to the week for gold, where prices surged to $1,255.80, most the gold miners would have performed much poorer than they did.

Iamgold (NYSE:IAG) finished the session Friday at $18.57, gaining $0.84, or 4.74 percent.

Eldorado came in at $18.38 at the close of the week, a gain on the day of $0.69, or 3.90 percent.

Yamana ended Friday and the week at $18.57 a share, a gain of $0.35 on the day, or 3.37 percent.

Eldorado Gold (NYSE:EGO), Iamgold (NYSE:IAG), Yamana Gold (NYSE:AUY), Plummet with Gold Price

Recently the gold mining stocks have moved closely in unison with the price of gold, and as the gold prices go, so go the mining stock (at least most of them), and that happened today with Eldorado Gold (NYSE:EGO), Iamgold (NYSE:IAG) (TSE:IMG) and Yamana Gold (NYSE:AUY) (TSE:YRI).

Measured by percentages, dropping the most of these three gold mining companies was Iamgold, which plunged by 5.42 percent, or 42 cents. In New York they ended the session as $17.83 a share, and in Toronto they finished at $17.10 a share.

Volume was up on both exchanges for Iamgold as well, led by New York, where the company had a volume of 7,267,069, well above the 3-month average of 4,223,170. Toronto trading volume was also up above the 3-month average, but pretty much in line with normal activity, increasing to 3,481,476, while the regular average is 2,630,170.

Eldorado Gold was down 3.67 percent, or 63 cents a share. It finished the day at $16.52.

Volume surged for the miner, like it did with most gold mining companies, increasing from their 3-month average of 5,150,160, to 9,533,986.

Yamana Gold performed close to Eldorado for the day, falling by 3.65 percent, or 42 cents a share in Toronto, and 4.57 percent, or 51 cents a share in New York.

Volume in New York increased from 12,925,200 for a 3-month average, to 19,927,147. In Toronto, volume for the last three months on average was 4,469,540, compared with today's volume of 7,316,653.

The stock closed in New York at $10.66, and in Toronto at $11.10.

Gold Futures Close a Record Level of $1,220 An Ounce

Gold futures prices closed at a record price today of $1,220.30 an ounce, as growing fears on China's measures to combat inflation, and Europe's offering of just under $1 trillion to irresponsible governments to save their hides, has investors extremely jittery, and money is plowing into gold as a result, which brought the record gold futures close today.

A number of gold companies' share prices rose strongly as well with Allied Nevada Gold (AMEX:ANV) up well over 10 percent, Iamgold (NYSE: IAG) was up just under 10 percent, Jaguar Mining (NYSE:JAG) was just behind Iamgold at right under 10 percent as well, and Eldorado Gold (NYSE:EGO) was little over 9 percent, as just about the entire gold mining sector surged on the ongoing bad economic news and threats of inflation and nations defaulting.

News from the Commerce Department also revealed wholesale prices in the U.S. increased by 2.4 percent, and inventories rose, signifying sales are slowing down.

The mainstream financial press is reporting as if none of this is relevant or happening, but they'll soon find out, as always, that they're clueless in these matters, and gold will continue to soar in the light of these extraordinary economic circumstances threatening the wealth of people around the world.

Eldorado Gold (NYSE:EGO) Gold Reserves Up 42 Percent

Gold Reserves at Eldorado Gold Eastern Dragon Project

The Eastern Dragon Project in China has exceeded original proven and probable gold reserves by a large margin, as Eldorado Gold (NYSE:EGO) now estimates about 747,000 ounces now in the mine, and more possibly to be discovered.

Just on the most recent revised data the company has increased its exploration budget at the mine by $2.4 million, as they search other vein structures for more gold resources at their prolific project.

Gold Reserves at Eldorado Gold Eastern Dragon Project

Eldorado Gold (NYSE:EGO) in Gold Bull Market

Eldorado Gold Bull Market

With holdings in a number of European, Asian and South American countries, Eldorado Gold (NYSE:EGO) looks like a good play in the ongoing gold bull market.

There is no doubt with recently released data from the Labor Department and Commerce Department of the United States that the recession is continuing on, and gold will continue to be one of the few reliable and predictable places to put your money in the mid-term.

Along with that, the Federal Reserve and Ben Bernanke refuse to stop their money printing press, and so inflation is inevitable, and along with the sovereign debt issues in a number of countries in the European Union (PIIGS), gold will continue to be a safety haven for some time to come.

Eldorado Gold (NYSE:EGO) is in a good position to take advantage of those realities and will perform well for investors.

Eldorado Gold Bull Market

Gold News Around the Web

A lot of news on gold was around the web today, as futures fell sharply on Thursday, and a number of godl companies made announcements concerning dividends, seeking partners and opening up of mines again.

Here's the top gold stories:

Gold drops sharply following record Wednesday

Gold futures fell sharply Thursday, pulling back after surging to a record high over $995 an ounce in the previous session, as traders locked in gains.

Gold for April delivery fell $11.40 to end at $977.10 an ounce on the New York Mercantile Exchange.

"It seems like another instance of the long side paring back positions because of the worries in the equities markets," said Zachary Oxman, a senior trader at Wisdom Financial.

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Dollar, Gold Fall in Europe

Gold traded in London at $982.20 per troy ounce, down from $984.45 late Wednesday. In Zurich, gold was unchanged at $982.65 bid per troy ounce.

Silver traded in London at $20.46, down from $20.49.

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Gold retreats from record high as oil prices soften

Gold retreated from record highs on Thursday as oil prices slipped, but the precious metal held within striking distance of $1,000 a troy ounce as the dollar struck an all-time low against the euro.

Spot gold jumped as high as $991.90 an ounce and was quoted at $984.40/985.70 at 1603 GMT, up from an earlier low of $959.45, but below the $985.70/986.50 late on Wednesday.

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Gold's glitter lures buyers, even near $1,000

Gold's near vertical climb to historic highs approaching the key $1,000 mark shows no sign of abating as bullish forces such as a sinking dollar and record high oil are not seen fading anytime soon.

Fears that expensive oil will stoke inflation combined with worries over potential stock market losses and the U.S. on the brink of possible economic recession will propel gold higher still, analysts say.

"Don't be surprised to see gold trade up to $1,100 (an ounce) or even $1,200 before year-end 2008," said Jeffrey Nichols, managing director of American Precious Metals Advisors.

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Yamana Gold Declares Quarterly Dividend

YAMANA GOLD INC. (NYSE: AUY) today announced its first quarter dividend of US$0.01 per share. Shareholders of record at the close of business on Monday, March 31, 2008 will be entitled to receive payment of this dividend on Monday, April 14, 2008. The dividend is an "eligible dividend" for Canadian tax purposes.

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Barrick's Wilkins Seeking Russian Partner for Gold-Deposit Bid

Barrick Gold Corp., the world's largest gold producer, is seeking a Russian partner for a venture to develop mines in the country and bid for its largest untapped gold deposit.

Barrick would accept a minority stake in a Russian joint venture, Chief Executive Officer Gregory Wilkins said today. The partnership would be used to try to secure rights to the Sukhoi Log gold and silver deposit when it comes up for government auction, he said.

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Eldorado Gold Corporation: Kisladag Mine Re-Opens

Paul N. Wright, President and Chief Executive Officer of Eldorado Gold Corporation (TSX:ELD), is pleased to announce that earlier today, March 6, 2008 its Kisladag mine in Western Turkey re-opened and that production activities are underway.

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