North American equity indices retreated from their record highs last week over renewed concerns on the financial stability of a Portuguese bank. Modest gains in Friday’s trading session partially offset the prior day losses when worries about Portugal’s banking system rocked the market. During the week, the Federal Reserve also disclosed its plans to end its bond-buying stimulus program in October and to keep the benchmark interest rate near zero for a considerable time after the asset-purchase program ends. U.S. companies also started to report their second quarter earnings last week. Earnings for S&P 500 companies are expected to climb 6.4% during the quarter.
Both in the U.S. and Canada, Metals and Mining indices were the top gainers during the week rising 1.5% and 4.0%, respectively and pushed the metals prices higher. Recently, Bank of America Merrill Lynch revised upward its gold price forecast for 2014 by 0.8% to $1,308 per ounce from $1,298, and kept its 2015 price outlook unchanged at $1,375 an ounce, citing a lack of mine supply growth and steady demand for the yellow metal from emerging markets. Gold ended Friday at $1,338.7 an ounce.
Today we
have chosen 11 diversified metals & mining stocks trading below $7 that
have outperformed the rise in metal prices with higher market interest while
touching their intraday 52-week highs last week. The 5-day average trading volumes of these stocks are significantly higher than their one month daily average trading volumes. The shortlisted stocks outperformed their respective indices during the week recording price gains ranging from 5% to 89% with daily average traded volume in excess of 100,000.
Index Performance (July 7th – July 11th 2014)
| Index |
Last Index Value |
Weekly Return |
|
Russell 2000 Index |
1,159.9 |
-4.0% |
|
NASDAQ Composite Index |
4,415.5 |
-1.6% |
|
S&P/TSX Composite Index |
15,125.5 |
-0.6% |
|
S&P/TSX Venture Composite Index |
1,022.9 |
-1.4% |
|
Metals & Mining Industry Index (U.S.) |
149.5 |
1.5% |
|
Metals & Mining Industry Index (Canada) |
2,498.8 |
4.0% |
Metals Prices Last Week
| Precious Metals |
Price as on July 11, 2014 |
1-Wk Price Change |
|
Gold |
$1,338.7 |
1.4% |
|
Silver |
$21.4 |
1.3% |
|
Base Metals |
||
|
Aluminum |
$1,941.0 |
0.9% |
|
Copper |
$7,156.0 |
0.1% |
|
Nickel |
$19,380.0 |
-0.1% |
|
Zinc |
$2,303.0 |
3.0% |
|
Lead |
$2,206.0 |
1.1% |
|
Other Metals |
||
|
Palladium |
$874.0 |
1.1% |
|
Platinum |
$1,512.3 |
1.1% |
Stocks Performance
| Company Name |
Ticker |
Exchange |
Market Cap |
Last Price |
Price Change (5-Day) |
Price Change (YTD) |
Average Volume |
Average Volume |
Volume Comparison* |
52-Week High |
52-Week Low |
|
Condor Resources Inc |
CN |
TSXV |
11.7 |
0.15 |
16.0% |
93.3% |
3,716,720 |
1,002,967 |
270.6% |
0.17 |
0.04 |
|
Canamex Resources Corp |
CSQ |
TSXV |
21.2 |
0.18 |
34.6% |
169.2% |
2,314,175 |
651,645 |
255.1% |
0.22 |
0.04 |
|
SinoCoking Coal and Coke Chemical Industries |
SCOK |
NASDAQ |
32.9 |
1.56 |
17.3% |
34.5% |
567,483 |
199,867 |
183.9% |
2.10 |
0.83 |
|
Prescient Mining Corp |
PMC |
CNSX |
8.0 |
0.50 |
88.7% |
NA |
791,848 |
284,830 |
178.0% |
0.50 |
0.01 |
|
Caledonia Mining Corp |
CAL |
TSX |
57.9 |
1.11 |
9.9% |
48.0% |
122,933 |
45,326 |
171.2% |
1.17 |
0.59 |
|
Cayden Resources Inc |
CYD |
TSXV |
113.8 |
2.40 |
26.3% |
140.0% |
180,213 |
79,943 |
125.4% |
2.48 |
0.86 |
|
Great Panther Silver Ltd |
GPR |
TSX |
221.0 |
1.59 |
26.2% |
106.5% |
399,807 |
181,394 |
120.4% |
1.60 |
0.70 |
|
Endeavour Silver Corp |
EDR |
TSX |
674.4 |
6.66 |
14.4% |
73.4% |
568,874 |
279,046 |
103.9% |
6.69 |
3.34 |
|
Garibaldi Resources Corp |
GGI |
TSXV |
17.5 |
0.30 |
11.1% |
150.0% |
119,662 |
64,826 |
84.6% |
0.33 |
0.07 |
|
Premier Gold Mines Ltd |
PG |
TSX |
507.6 |
3.35 |
12.8% |
123.3% |
2,554,447 |
1,502,280 |
70.0% |
3.52 |
1.28 |
|
Nevada Copper Corp |
NCU |
TSX |
220.6 |
2.74 |
5.0% |
103.0% |
213,911 |
131,081 |
63.2% |
2.83 |
1.22 |
Source: Bloomberg
Market cap & Last Price are in their respective currencies
*Volume Comparison: 5-Day average volume over 30-Day average volume
Company Description
Condor Resources Inc (TSXV: CN)
Condor Resources Inc. evaluates, acquires, and explores natural resource properties in Chile. The company mines for gold and copper.
Canamex Resources Corp (TSXV: CSQ)
Canamex Resources Corp. is a resource exploration company with a mission to discover and develop significant mineral assets. The company is focused primarily on gold exploration in the Americas.
SinoCoking Coal and Coke Chemical Industries (NASDAQ: SCOK)
SinoCoking Coal and Coke Chemical Industries Inc., produces coal and coke in China. The company produces coke, coal, coal byproducts and electricity through its branch operations.
Prescient Mining Corp (CNSX: PMC)
Prescient Mining Corporation provides exploration and development of resource properties.
Caledonia Mining Corp (TSX: CAL)
Caledonia Mining Corporation operates a mineral exploration and development company. The company explores and develops gold and base metal mines, primarily cobalt. Caledonia Mining owns and operates mines located in Zambia.
Cayden Resources Inc (TSXV: CYD)
Cayden Resources Inc. is a mineral exploration company. The company explores for minerals on its Wildcat Property located northwest of Prince George in the Omineca Mining Division of north-central British Columbia.
Great Panther Silver Ltd (TSX: GPR)
Great Panther Silver Ltd. explores for and produces silver. The company is focused on acquiring, developing and mining precious metals in Mexico. Great Panther’s projects include The Guanajuato Mines property, located in the State of Guanajuato, Mexico, and The Topia Silver-Lead-Zinc property, located in the Topia Mining District in west-central Durango State, Mexico.
Endeavour Silver Corp (TSX: EDR)
Endeavour Silver Corp. is a small-cap silver mining company focused on the growth of its silver production, reserves and resources in Mexico.
Garibaldi Resources Corp (TSXV: GGI)
Garibaldi Resources Corp. is a diversified mineral resource company. The company explores for and develops gold and silver prospects in Mexico.
Premier Gold Mines Ltd (TSX: PG)
Premier Gold Mines Limited is a mining and exploration company focused on developing gold projects worldwide.
Nevada Copper Corp (TSX: NCU)
Nevada Copper Corporation is a mineral exploration and production company that acquires and develops copper deposits located in the United States. The company owns the Pumpkin Hollow Copper Development Property in the Walker Lane mineralized belt of Western Nevada.
