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Performance of Companies in the Metals and Mining Sector on July 22

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Base metals and precious metals weakened on July 22

On Friday, July 22, the stocks related to base metals and precious metals declined because of the weakness in these respective metals.

At 3:15 PM EDT, the PowerShares DB Base Metals ETF (DBB) declined by ~0.22% whereas the SPDR S&P Metals & Mining ETF (XME) gained ~0.22%. The SPDR Gold Shares ETF (GLD) declined by ~0.73%.

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AngloGold Ashanti expects profits in the first half of 2016

AngloGold Ashanti (AU), a multinational gold miner, announced on Friday, July 22, that it expects to see profits in the first half of 2016. This is better than its performance in the first six months of 2015.

According to AngloGold Ashanti, its profits in the first six months of 2016 are expected to be in the range of $45 million to $59 million. This is much better than $143 million loss in the first six months of 2015. The earnings are expected to range from $87 million and $99 million.

According to the company, the profits resulted from the rebound of metal prices, cost control measures, and supporting weaker local currency. Since the beginning 2016, AngloGold Ashanti gained more than 195%. At 12:15 PM EDT on July 22, it was trading at $21.13, a drop of ~0.05%.

The performance of the top five and bottom five companies in the gold industry on 3:40 PM EDT on July 22 are listed below.

Top five performers in the gold industry

  • Newmont Mining (NEM) rose by ~2.1%
  • Agnico Eagle Mines Limited (AEM) rose by ~1.1%
  • Goldcorp (GG) rose by ~1.1%
  • Barrick Gold Corporation (ABX) rose by ~0.93%
  • DRDGOLD Limited (DRD) rose by ~0.69%

Bottom five performers in the gold industry

  • Alamos Gold (AGI) fell by ~1.5%
  • Yamana Gold (AUY) fell by ~2.2%
  • Primero Mining  (PPP) fell by ~1.8%
  • Eldorado Gold Corporation (EGO) fell by ~2.7%
  • IAMGold Corporation (IAG) fell by ~3.1%
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