NEWMONT MINING (NEM $62.62, Rated Neutral; price target to $71 from $60) HIGHER NEAR TERM AND LONG TERM GOLD PRICE ESTIMATES LEAD TO HIGHER VALUATION, BUT UPSIDES MODERATE 8/31/2011
TAHOE RESOURCES FINANCIAL MODELS UPDATED TO REFLECT LOWER TAX AND ROYALTY RATES, LOWER 2017-2019 SILVER PRICES, AND LONGER PERUVIAN AND CANADIAN ASSET MINE LIVES 5/25/2016
TAHOE RESOURCES VISIT TO LAKE SHORE GOLD IN TIMMONS, ONTARIO MAY 5TH AND TORONTO CORPORATE PRESENTATION MAY 4TH 5/25/2016
GOLDCORP IMPLICATIONS IN TIMMONS, ONTARIO AFTER TAHOE RESOURCES COMPLETED ACQUISITION OF LAKE SHORE GOLD 5/25/2016
FORTESCUE METALS (FSUMF US $3.17; NEUTRAL; price target lowered from $5.75/share to $4/share) NEAR TERM PRODUCTION DELAYS and HIGHER ESTIMATED OPERATING COSTS HURT ESTIMATED EARNINGS and HAMPER ESTIMATED CASH FLOW 9/5/2012
MACRO RISKS AND OPPORTUNITIES LOOKING INTO 2013 9/6/2012
COMPARATIVE BALANCE SHEETS OF LARGE DIVERSIFIED MINES HAVE DETERIORATED, REQUIRING GREATER CUTBACKS IN CAP EX 9/6/2012
WEYERHAEUSER (WY $25.50 rated Neutral with $24 up from $18 price target) WY HOMEBUILDER SEGMENT VALUATION INCREASED BY STRONGER SHARE PRICES FOR PEER GROUP DUE TO MORE CONFIDENCE IN HOUSING RECOVERY AND HIGHER WOOD PRICES ALREADY PRICED IN STOCK 9/6/2012
PRETIUM RESOURCES (PVG $14.15 rated Overweight with $37 price target) SNOWDEN SEPTEMBER 7TH HIGHER CONFIDENCE, LOWER TONNAGE HIGH GRADE VALLEY OF KINGS MINERAL RESOURCE CLOSE TO OUR “SPLIT THE BABY” RESOURCE ESTIMATED IN MOST RECENT AUGUST 17, 2012 REPORT 9/8/2012
ANGLO AMERICAN (AAUKY $15.75, rated NEUTRAL and price target REDUCED from $23/share to $22/share) CODELCO TRANSACTION COMPLETED; LOWER ESTIMATED COPPER PRODUCTION; MINAS RIO DELAYED UNTIL MID-2014 9/9/2012