By GuruFocus, Contributor The $26 billion T Rowe Price Equity Income Fund has been managed by the firm’s Chief Investment Officer Brian Rogers since 1985. Since then the fund has gained 11% a year on average. Over the past 10 years the fund averaged 9% a year. Brian Rogers likes to invest in companies that are well-established and pay above-average dividends. As we can see from his recent purchase, he likes to buy companies that are traded at 52-week lows, too.
Tag Archives: NEM
GDX, ABX, GG, NEM: Large Outflows Detected at ETF
Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Gold Miners ETF (AMEX: GDX) where we have detected an approximate $100.8 million dollar outflow — that’s a 1.3% decrease week over week (from 198,552,500 to 195,902,500). Among the largest underlying components of GDX, in trading today Barrick Gold Corp. (NYSE: ABX) is off about 1.1%, Goldcorp Inc (NYSE: GG) is off about 0.7%, and Newmont Mining Corp. (NYSE: NEM) is lower by about 0.7%. For a complete list of holdings, visit the GDX Holdings page » …read more
Source: FULL ARTICLE at Forbes Markets
Notable ETF Inflow Detected – GDX, ABX, GG, NEM
Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Gold Miners ETF (AMEX: GDX) where we have detected an approximate $142.3 million dollar inflow — that’s a 2.0% increase week over week in outstanding units (from 191,902,500 to 195,752,500). Among the largest underlying components of GDX, in trading today Barrick Gold Corp. (NYSE: ABX) is off about 0.9%, Goldcorp Inc (NYSE: GG) is off about 0.7%, and Newmont Mining Corp. (NYSE: NEM) is up by about 0.7%. For a complete list of holdings, visit the GDX Holdings page » …read more
Source: FULL ARTICLE at Forbes Markets
Glencore Follows Other Big Miners to Lower Profits
Filed under: Earnings, Global Economy, Commodities & Futures
London-traded Glencore International has been making news for more than a year now for its takeover of Xstrata, a mining company of which Glencore already owns about 40%. The company is awaiting approval from Chinese regulators and now expects the deal to be done by mid-April.
In the meantime, Glencore reported preliminary results this morning for its 2012 fiscal year. Like BHP Billiton Ltd. (NYSE: BHP), Rio Tinto PLC (NYSE: RIO), Anglo American, Barrick Gold Corp. (NYSE: ABX), Kinross Gold Corp. (NYSE: KGC) and Newmont Mining Corp. (NYSE: NEM), Glencore took a big write-down on a mining property: a $1.2 billion impairment charge on a reclassification of an earlier charge for the company’s investment in Russian aluminum giant Rusal. All told, Glencore wrote down $1.65 billion in impairment charges last year.
The company’s commodity trading business helped offset the weakness in commodity prices, and Glencore managed to post an adjusted profit that was 25% lower than profit in 2011, but that exceeded an analysts’ forecast for a drop of 37%. Operating profit in the company’s trading division rose 11% and fell 27% in its industrial division.
For Glencore, only gold showed a positive commodity price change in 2012, up 6%. The largest negative changes were visited on nickel and iron ore, both down 23%. And Glencore nearly doubled its production of iron ore, while gold production fell by 1%.
Glencore’s report is available here.
Shares in London are trading up about 3.1% this morning, at 381.45 pence.
Filed under: 24/7 Wall St. Wire, Commodities & Metals, Earnings, International Markets Tagged: ABX, BHP, KGC, NEM, RIO
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Major Gold Miners Strike New 52-Week Lows (GDX, NEM, AU, ABX, GG)
Filed under: Commodities & Futures
This will not sound nice, but it isn’t meant to: It really sucks to be a gold miner right now.
Gold prices have lost the wind at their back, gold production prices are higher and demand for the shiny yellow metal is not being juiced up by industries and consumers. Labor issues in many parts of the developing world have also turned what had been a risk into an actual higher cost event. We recently gave an update with a muted outlook after taking World Gold Council data into consideration.
To show just how bad thing shave been: the Market Vectors Gold Miners ETF (NYSEMKT: GDX) hit a new 52-week low of $36.47 on Monday against a prior 52-week range of $37.02 to $55.25. But wait, it gets worse. The ETF tracks the NYSE Arca Gold Miners Index. This index appears to be at a three-year low.
Here is what we are seeing in other gold majors:
Newmont Mining Corp. (NYSE: NEM) is down 1.6% at $38.95, under the prior low of the past year as the 52-week range is $39.56 to $59.03, and it is now under $20 billion in market cap. This is the lowest price back to August of 2009, if you do not pay attention to dividends.
AngloGold Ashanti Ltd. (NYSE: AU) is at $23.77, versus a prior 52-week range of $23.88 to $41.20. This is the lowest going back to February of 2009.
Barrick Gold Corp. (NYSE: ABX) is at a new 52-week low of $28.89, versus a prior 52-week range of $29.33 to $47.24. This $29 billion value compares to a low back in December of 2008 if you do not count dividend payments.
Goldcorp Inc. (NYSE: GG) is still worth $26 billion, and at $32.05 after a 1.5% drop, it still has 2% to go before hitting a new 52-week low.
What is interesting is that gold itself is at $1,574 per ounce. That is still more than $30 above the 52-week low from May of 2012. The World Gold Council noted that gold was up about 8% in dollar terms in 2012, and that was the 12th consecutive annual gain.
Filed under: 24/7 Wall St. Wire, Commodities & Metals, Metals Tagged: ABX, AU, GDX, GG, NEM
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Analyst Moves: NEM, VECO
By MarketNewsVideo Newmont Mining (NEM) had its numbers lowered by Jefferies (JEF) as long term guidance has been overly optimistic. A hold rating was issued with a price target of $44.
Source: FULL ARTICLE at Forbes Markets
Newmont Sees Lower Fourth Quarter Gold, Copper Production
Newmont Mining Corp. (NEM) said that its sales and production of gold and copper are expected to decline in the fourth quarter compared with the previous year, but said copper production is expected to grow in 2013.
Source: FULL ARTICLE at Fox Business Headlines