IAMGOLD (IAG) (AKS) (CHK) (CPNO) (HES) (MT) (XOM) Ratings Changes

IAMGOLD Corp (IAG), AK Steel Holding Co. (AKS), Chesapeake Energy (CHK), Copano Energy, L.L.C. (CPNO), Hess Corp (HES), ArcelorMittal (MT) and Exxon Mobil (XOM) had ratings on them adjusted by analysts.

Macquarie upgraded AK Steel Holding Co. (AKS) from an Underperform rating to a Neutral rating.

Stifel Nicolaus upgraded Chesapeake Energy (CHK) from a Hold rating to a Buy rating.

Societe Generale upgraded IAMGOLD Corp. (IAG) from a Sell rating to a Hold rating.

RBC Capital downgraded Copano Energy, L.L.C. (CPNO) from an Outperform rating to a Sector Perform rating.

Capital One downgraded Hess Corp. (HES) from an Add rating to a Neutral rating.

HSBC downgraded ArcelorMittal (MT) from a Neutral rating to an Underweight rating.

Macquarie downgraded Exxon Mobil (XOM) from an Outperform rating to a Neutral rating.

IAMGOLD (IAG) (KWK) (CQP) (DEE) (LNT) (MOS) (NOV) (SDRL) (SNP) (TRGP) Upgraded

IAMGOLD Corp. (IAG), Quicksilver Resources Inc. (KWK), Cheniere Energy Partners LP (CQP), Delphi Energy Corp. (DEE), Alliant Energy (LNT), The Mosaic Company (MOS), National-Oilwell Varco, Inc. (NOV), Seadrill Ltd (SDRL), China Petroleum and Chemical (SNP) and Targa Resources Investments Inc. (TRGP) were upgraded by analysts.

Barclays Capital upgraded Cheniere Energy Partners L P (CQP) from an "Equal Weight" rating to an "Overweight" rating. They have a price target of $25.00 on the company.

Canaccord Genuity upgraded Delphi Energy Corp. (DEE) from a "Sell" rating to a "Speculative Buy" rating.

BMO Capital Markets upgraded IAMGOLD Corp. (IAG) from a "Market Perform" rating to an "Outperform" rating.

Macquarie upgraded Quicksilver Resources (KWK) from an "Underperform" rating to a "Neutral" rating. They have a price target of $2.50 on the company.

Ladenburg Thalmann upgraded Alliant Energy (LNT) from a "Neutral" rating to a "Buy" rating.

Standpoint Research upgraded The Mosaic Company (MOS) from a "Hold" rating to a "Buy" rating.

Standpoint Research upgraded National-Oilwell Varco, Inc. (NOV) from a "Hold" rating to a "Buy" rating. They have a price target of $82.00 on the company.

Credit Suisse upgraded Seadrill Ltd (SDRL) from a "Neutral" rating to an "Outperform" rating. They have a price target of $48.00 on the company.

Citigroup (NYSE: C) upgraded China Petroleum and Chemical (SNP) from a "Neutral" rating to a "Buy" rating.

UBS AG upgraded STMicroelectronics (STM) from a "Sell" rating to a "Neutral" rating.

Tudor Pickering upgraded Targa Resources Investments Inc. (TRGP) from a "Hold" rating to a "Buy" rating.

Yamana (AUY) (COP) (EXC) (WNR) (GORO) (HAL) (IAG) (RDS-A) Ratings Changes

Yamana Gold (AUY), ConocoPhillips (COP), Exelon Co. (EXC), Western Refining, Inc. (WNR), Gold Resource Co. (GORO), Halliburton (HAL), IAMGOLD Corp (IAG) and Royal Dutch Shell (RDS-A) had ratings on them adjusted by analysts.

Scotia Capital upgraded Yamana Gold (AUY) from a "Sector Perform" rating to an "Outperform" rating.

Goldman Sachs (GS) upgraded ConocoPhillips (COP) from a "Sell" rating to a "Neutral" rating.

Citigroup (C) upgraded Exelon Co. (EXC) from a "Sell" rating to a "Neutral" rating.

Goldman Sachs upgraded Western Refining, Inc. (WNR) from a "Neutral" rating to a "Buy" rating.

Global Hunter Securities downgraded Gold Resource Co. (GORO) from an "Accumulate" rating to a "Neutral" rating. They have a price target of $17.50 on the company.

Global Hunter Securities downgraded Halliburton (HAL) from an "Accumulate" rating to a "Neutral" rating. They have a price target of $38.00 on the company.

Scotia Capital downgraded IAMGOLD Corp (IAG) from an "Outperform" rating to a "Sector Perform" rating.

Goldman Sachs downgraded Royal Dutch Shell (RDS.A) from a "Neutral" rating to a "Sell" rating.

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.

Yamana (AUY) (AEM) (ATNAF) (IAG) (LPI) Get Analysts' Initiations

Yamana Gold (AUY), Agnico-Eagle Mines Limited (AEM), Atna Resources (ATNAF), IAMGOLD Corp (IAG) and Laredo Petroleum Holdings Inc. (LPI) had analysts initiate coverage on them.

Morgan Stanley (MS) initiated coverage on Agnico-Eagle Mines Limited (AEM). They placed an "Equal Weight" rating on the company.

Pi Financial initiated coverage on Atna Resources (ATNAF). They placed a "Buy" rating and a price target of $2.60 on the company.

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

Morgan Stanley initiated coverage on IAMGOLD Corp (IAG). They placed an "Equal Weight" rating on the company.

C.K. Cooper initiated coverage on Laredo Petroleum Holdings (LPI). They placed a "Buy" rating and a price target of $28.00 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.


 

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.

Goldcorp (NYSE:GG), Novagold (NYSE:NG), IAMGOLD (NYSE:IAG) Down as Gold Prices Level

Gold prices dropped slightly Monday, with gold miners like Goldcorp (NYSE:GG), Novagold (NYSE:NG), IAMGOLD (NYSE:IAG) falling disportionately with them, along with many other miners.

Gold for December delivery on Monday fell 30 cents to $1,228.50 an ounce at the Comex division of the New York Mercantile Exchange. Volume was light on the day. Spot gold dropped $1 dollar also in the session.

Goldcorp ended the trading day at $41.09, falling $0.80, or 1.91 percent.

Iamgold finished at $17.68, losing $0.41, or 2.27 percent.

Novagold closed at $6.58, down $0.21, or 3.09 percent.

Much of this came from temporary euphoria over mergers and acquisitions interest, which provided a temporary burst of optimism to the markets, but which is already starting to be discounted as limited in scope and in no way will expand to numerous companies.

Gold will probably continue to take a breather before taking off in the next couple of weeks, depending on the economic data coming out, which continues to be very weak.

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.

Agnico-Eagle (NYSE:AEM), IAMGOLD (NYSE:IAG), Barrick Gold (TSE:ABX) Down for Record Gold Day

Even though skyrocketing gold futures prices have been pulling the gold mining companies up with them, as investors seek safe haven for their capital, Agnico-Eagle (NYSE:AEM), IAMGOLD (NYSE:IAG) and Barrick Gold (TSE:ABX) were among the few gold miners on the wrong side of the movement, as all of them were down at the end of the trading session, although Agnico-Eagle did go to the positive side in electronic trading.

Gold miners had been sitting on the sidelines for a lot of the gold bull market, as they lagged behind gold futures for some time. That now seems to have changed, and we could see some nice moves now that it appears the sector has finally broken through.

Silver may be about to experience the same thing, as they were pulled upward by the sharp increase in gold prices, and when it breaks $20 an ounce, who knows what will happen if it suddenly takes off.

Most of this is in response to investor concerns over the consequences of bailing out irresponsible countries in Europe, and to a lesser degree, the inflation challenges now facing China, which measures could cut back on demand for raw materials.

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.

Newmont Mining (NYSE:NEM), IAMGOLD (NYSE:IAG) Sell Silidor Mine

IAMGOLD and Newmont Mining sell Silidor Project

Newmont Mining (NYSE:NEM) and IAMGOLD (NYSE:IAG) sold their stakes in the Silidor property to Visible Gold Mines.

The acquisition will be through the issuing of common shares to the two companies by Visible Gold Mines, with Newmont receiving 55 percent and IAMGOLD 45 percent.

The entire stake is being sold, as Visible Gold Mines takes over the entire property. Visible is a natural resource mining company.

Newmont Canada Corporation, the actual company selling its stake, is a subsidiary of Newmont Mining.

IAMGOLD and Newmont Mining sell Silidor Project