The average AISC for eight significant gold miners for 2015, as guided, is $950 per ounce compared to $900 per ounce for 1Q15.
Gold miners’ profits will fall faster and rise higher than gold prices because gold miners have fixed costs. The cost to mine gold is usually similar under various gold price levels.
Shares of Zions Bancorporation (ZION) surged 10.18% to $31.81, outperforming the XLF ETF.
The current bullish momentum could push natural gas prices to the nearest resistance of $3.20 per MMBtu. Gas prices hit this level in January 2015.
In the June edition of the STEO (Short-Term Energy Outlook), the EIA reported that total natural gas production will average around 78.96 Bcf in 2015.
The EIA releases the weekly natural gas storage report every Thursday. This week, the EIA report is scheduled to release on Thursday, June 11, 2015.
NYMEX-traded July natural gas futures increased by 5.14% on Tuesday. Natural gas prices settled at $2.85 per MMBtu on June 9, 2015.
WTI crude oil futures contracts for July delivery closed above the key resistance of $60 per barrel on June 9. Bullish sentiments could push crude oil prices higher.
Last week, OPEC decided to maintain its quota of 30 MMbpd for the next six months. Rising production will continue to put pressure on crude oil prices.
The recent surge in crude oil prices led to a revision of the crude oil forecast by various energy forecasting and research agencies.
Yesterday, the API reported that the US commercial crude oil stockpile fell by 6.7 MMbbls in the week ending June 5, 2015. This supported crude oil prices.
Google and Levi Strauss unveiled a new collaboration. It embeds touch-enabled interactive technology in fabrics. It may revive the denim industry.
Recently, Levi Strauss and Google (GOOG) (GOOGL) announced a groundbreaking partnership for the apparel industry. It’s called “Project Jacquard.”
Buckeye Partners’ (BPL) outlook looks positive from a long-term investment standpoint. At a broader level, ~54% of analysts rate Buckeye Partners as “hold.”
According to Wall Street analysts’ estimates, Buckeye Partners’ (BPL) distributions are expected to grow by ~4.2% YoY in 2015 over 2014.
Buckeye Partners (BPL) acquired an 80% interest in a newly formed joint venture between BTP (Buckeye Texas Partners) and Trafigura AG in March 2015.
Despite weakness in crude oil prices (USO) since June 2014, Buckeye Partners (BPL) has delivered a solid performance on the stock market.
Buckeye Partners’ (BPL) estimated distribution yield of 6.15% is ~160 bps higher than the average yield of the selected peer group.
Buckeye Partners’ 1Q15 trailing 12 month distribution coverage ratio of 0.97x is lowest among the selected peer group. It’s expected to stay low in 2Q15 and 3Q15.
During 1Q15, Merchant Services was Buckeye Partners’ top performing segment in terms of YoY adjusted EBITDA growth. Its adjusted EBITDA increased by 169% YoY.