uploads///gOLD STOCKS

Metals and Mining Companies Were Weaker on October 26

By

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%.

Article continues below advertisement

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%.
Advertisement

More From Market Realist

  • Morgan Stanley sign and stock numbers
    Macroeconomic Analysis
    Morgan Stanley's Buyback Stock Picks in 2021
  • Black Wall Street sign is sign of ethical investing
    Macroeconomic Analysis
    Ethical Investing Stocks and Funds for Your 2021 Portfolio
  • New York City skyline and Goldman Sachs logo
    Macroeconomic Analysis
    Goldman Sachs: Options Trade Picks to Play Earnings Season Volatility
  • Woman working on a laptop
    Macroeconomic Analysis
    Why NOBL ETF Could Offer Upside Potential in 2021
  • CONNECT with Market Realist
  • Link to Facebook
  • Link to Twitter
  • Link to Instagram
  • Link to Email Subscribe
Market Realist Logo
Do Not Sell My Personal Information

© Copyright 2021 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.