rising gold prices and fresh lows in the rand; the rand-price of gold is up almost 10% in the last two weeks. Harmony Gold ( HMY +9.9% ) and Sibanye Gold ( SBGL +5.9% ), which own primarily South African assets, are surging; shares with more international
86%. A stock sector that's standing out is emerging market gold miners: South Africa’s Sibanye ( SBGL ), Harmony ( HMY ) and AngloGold ( AU ), plus Peru's Buenaventura ( BVN ) are stronger, even as their corresponding country ETFs ( EZA ; EPU
major negative " for investors both inside and outside mining, as it reduces companies’ abilities to set their balance sheets and control their own destinies, Greenbriar Partners says. AU -3.3% , GFI -3% , HMY -2.6% . 1 comment!
4.5% , KGC +6.4% , NEM +4.7% , SLW +4% . Even South African producers turn mixed, despite the call from the country's mine workers union for big pay increases : AU -0.8% , GFI +1.5% , HMY -0.5% . Post your comment!
level minimum monthly wage of 7K rand ($750) for surface workers and 8K rand for underground workers vs. respective current minimum wages of 4.7K and 5K rand. AU -3.7% , GFI -3.4% , HMY -1.9% premarket. Post your comment!
lower production, higher costs and falling prices. At least nine miners hit 52-week lows: NEM -3% , GG -2.7% , AUY -4.8% , HMY -6.3% , AU -2.5% , BVN -1.1% , ANV -7.4% , NG -2.7% , GSS -5.8% . 2 comments!
mineworkers union will propose a double-digit pay raise. South African producers including Gold Fields ( GFI ), Harmony Gold ( HMY ) and AngloGold ( AU ) have already warned that cuts and a slowdown in exploration are on the way. Post your comment!
there are profitable gold mining companies that have yet to see any meaningful price appreciation. Harmony Gold Mining Co. ( HMY ) is one such company. As gold prices crashed in April, 2013, Harmony Gold shares traded as low as $4.31 each on May 3rd
Premarket gainers: PKT +32% . YRCW +27% . INVN +18% . YY +8% . DDD +5% . [] +% . Losers: VCRA -35% . ZAGG -24% . GUID -23% . CHE -16% . ARNA -13% . CETV -13% . HMY -9% . LNKD -9% . AGNC -6% . RBS -6% . Post your comment!
about AngloGold ( AU ) because negative free cash flow would hit its "already stretched balance sheet," but Harmony Gold ( HMY ) has the balance sheet to weather similar problems; Gold Fields ( GFI ) is its sector favorite. HSBC cuts GFI, Agnico Eagle