uploads///GOLS STOCK

Performance of Companies in the Metals and Mining Sector on August 11

By

Updated

Performance of miners on August 11

On Thursday, August 11, the stocks related to base metals gained whereas precious metal–related stocks lost momentum. At 3:05 PM EDT, the PowerShares DB Base Metals ETF (DBB) and the SPDR S&P Metals & Mining ETF (XME) gained ~0.35% and ~0.12%, respectively. The SPDR Gold Shares ETF (GLD) fell by ~0.46%.

Article continues below advertisement

Glencore decreases production in first half of 2016

Glencore (GLNCY), the multinational trading and mining giant, decreased its production in the first half of 2016. According to data released by the Swiss miner, the production of zinc decreased by about one-third in the first half of 2016 when compared to same period in 2015.

Glencore produced 506,500 tons of zinc in the first six months of 2016, which is 223,800 tons less than its production in the first half of 2015. Considering the second quarter readings, the production of zinc, coal, and copper in 2Q16 declined by 33%, 12%, and 3.2%, respectively, compared to same period in 2015.

Glencore reduced the production by shutting down several mines to help the Market to achieve balance amid lower prices and oversupply. Since the beginning of 2016, Glencore has gained more than 90%. At 11:40 AM EDT on Thursday, August 11, it was trading at $5.10, a gain of ~1.4%.

Top five performers in the gold industry

Below are the top five companies in the gold industry on Thursday, August 11, at 3:45 PM EDT.

  • Gold Standard Ventures (GSV) rose by ~13.4%
  • Alamos Gold (AGI) rose by ~2.9%
  • Timmins Gold (TGD) rose by ~3.4%
  • Comstock Mining (LODE) rose by ~1.7%
  • Asanko Gold Inc (AKG) rose by ~0.23%

Bottom five performers in the gold industry

Below are the bottom five companies in the gold industry on Thursday, August 11, at 3:45 PM EDT.

  • Tanzanian Royalty Exploration (TRX) fell by ~2.7%
  • Sibanye Gold Limited (SBGL) fell by ~3.5%
  • New Gold (NGD) fell by ~3.4%
  • Vista Gold (VGZ) fell by ~4.6%
  • Almaden Minerals (AAU) fell by ~8.1%
Advertisement

More From Market Realist