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Metals and Mining Companies Were Weaker on October 26


Oct. 27 2016, Updated 10:05 a.m. ET

Base metal and precious metal miners were weaker 

On October 26, the stocks related to base metals were mixed and precious metal moved lower. The base metal ETFs such as the PowerShares DB Base Metals (DBB) and the SPDR S&P Metals & Mining ETF (XME) fell ~0.07% and ~0.27%. The SPDR Gold Shares (GLD) fell ~0.57%.

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Goldcorp works to increase investment opportunities

According to the latest reports, Goldcorp (GG) is buying ownership in two gold exploration companies based in Canada. Goldcorp plans to acquire 14.4 million shares of Arcus Development Group. It’s ~20% of outstanding and issued shares. Goldcorp already owns 44.2% of issued and outstanding warrants of Arcus. On the other hand, Goldcorp is also buying ~4.7 million commons shares of Gold Standard Ventures (GSV). Since the beginning of 2016, Goldcorp rose ~33%. At 12:20 PM EST on October 26, it was trading at $15.45—a fall of ~0.96%.

Top five performers in the gold industry

Below are the top five companies in the gold industry on October 26 at 3:30 PM EST.

  • Minco Gold (MGH) rose ~1.1%.
  • Newmont Mining (NEM) fell ~1.2%.
  • Solitario Exploration & Royalty (XPL) fell ~1.5%.
  • Goldcorp fell ~1.8%.
  • Timmins Gold (TGD) fell ~2.1%.

Bottom five performers in the gold industry

Below are the bottom five companies in the gold industry on October 26 at 3:30 PM EST.

  • Entree Gold (EGI) fell ~3.3%.
  • Iamgold (IAG) fell ~4%.
  • Eldorado Gold (EGO) fell ~5.8%.
  • Banro (BAA) fell ~7.3%.
  • Tanzanian Royalty Exploration (TRX) fell ~8.3%.

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