COPPER INDUSTRY – – PRICE ESTIMATES INCREASED FOR 2014-2016 BASED ON HIGHER CONSUMPTION ABSORBING MUCH OF MINE OUPUT GAINS 1/9/2014
FORTESCUE METALS (FSUMF US $4.49 bid; rating raised to OVERWEIGHT from NEUTRAL; price target raised to $7.50 from $5) HIGHER LONG TERM IRON ORE PRICES AND DECREASED COSTS INCREASE EARNINGS ESTIMATES 1/24/2014
GOLDCORP (GG $23.10, rated Overweight, price target lowered to $27 from $30) FAVORABLE COMMENTS CONCERNING OSISKO ACQUISITION. HIGHER TAX RATES AND SHORTER PENASQUITO MINE LIFE MORE THAN OFFSET POSITIVE IMPACT OF CANADIAN MALARTIC ACQUISITION. 1/13/2014
GLENCOREXSTRATA PLC (GLCNF, 5.24; RATED RAISED TO NEUTRAL FROM UNDERWEIGHT; PRICE TARGET USD $5) HIGHER COPPER PRICES AND INCREASED PRODUCTION ESTIMATES GENERATE ADDITIONAL CASH FLOW TO HELP BALANCE SHEET 1/13/2014
GOLD INDUSTRY – – RELATIVE FINANCIAL STRENGTH MEASURED AS GOLD PRICE BREAKEVEN FOR EACH MAJOR COMPANY’S NPV/SHARE= ZERO 1/11/2014
GOLD INDUSTRY – – IMPACT OF HIGHER LONG TERM GOLD PRICES ON EARNINGS AND NPV/SHARE ESTIMATES FOR ROYALTY COMPANIES; PASCUA-LAMA DELAY TO 2019 HURTS NPV AND EPS FOR RGLD AND SLW 1/8/2014
KIRKLAND LAKE GOLD (KGILF $2.70, rated Overweight $12.50 price target) COVERAGE INITIATED AT OVERWEIGHT INVESTMENT RATING BASED ON ESTIMATED GOLD OUTPUT GAINS AND CASH FLOWS 1/16/2014
KIRKLAND LAKE GOLD (KGLIF $2.70, rated Overweight, price target $12.50) TEN YEAR PRODUCTIVITY ANALYSIS AND FUTURE GOLD PRICE BREAKEVEN 1/16/2014
KIRKLAND LAKE GOLD (KGLIF $2.70, rated Overweight, price target $12.50) Special Independent Committee presentation 1-16-2014 to Pamela Klessig, Brian E. Bayley, Dawn Whittaker LLB 1/16/2014
NONFERROUS METALS – – METALS PRICES RISE IN PAST 2 WEEKS AS KEY RESOURCE CURRENCIES FALL, OFFERING “DOUBLE WINS” REGIONALLY WITH INCREASING ODDS OF FAVORABLE FIRST-QUARTER EPS SURPRISES 1/21/2014