Miners Poised to Climb Higher after Federal Reserve Actions: DNA Precious Metals, Alcoa, Barrick Gold, Goldcorp, Yamana Gold
CORAL SPRINGS, Florida, October 10, 2013 /PRNewswire/ --
Market news updates for mining companies, including new research report issued this morning: DNA Precious Metals Inc. (OTCQB: DNAP), Alcoa (NYSE: AA), Barrick Gold Corporation (NYSE: ABX), Goldcorp Inc. (NYSE: GG) and Yamana Gold Inc. (NYSE: AUY)
DNA Precious Metals Inc. (OTCQB: DNAP) announces that Grass Roots Research and Distribution Inc., an investment advisor and one of Wall Street's leading fundamental research firms, has published a 45 page research report on DNA Precious Metals which allows investors to gain a clear understanding of the company's potential.
The full report can be accessed at: http://www.dnapreciousmetals.com/reports.
The September 27, 2013 report, references, among other things, "DNA Precious Metals, Inc. provides considerable value by targeting past producers with good recovery potential and its ability to lower the cost of production by efficient exploitation of resources. The Company has a simple business model that is easy to follow. Competent management is expected to produce high returns for the investors. Quality assets, excellent cash position, superior business model, experienced management and attractive gold market dynamics are all contributors to future success. Our conservative estimates forecast revenues to grow from $0.3 million in FYE December 31, 2013 to approximately $29.3 million by FYE 2018. Based on these projections and provided that the Company raises $9.0 million in capital, the Cohen Target Price is 118.7% higher than the current price."
To read the entire release, please go to: http://www.fnmprofiles.com/profiles-dnap.php
"We were delighted to receive a research report recommending DNAP," said Mr. Ronald Mann, CEO. "The report reflects a great deal of due diligence on the part of Grass Roots and details the Company's strategy and opportunities going forward. We appreciate the confidence and conclusions that Grass Roots draws from this information." With a "buy" recommendation, the Cohen Price Index Target is calculated using 2013 Price-to-Earnings ratio (P/E), Cohen Price-to-Capital Employed ratio (P/CE), Cohen Discounted Cash Flow (DCF). The P/E and P/CE are based on market multiples and representative of the broader industry in which the Company operates. Based on these methods, the Cohen Price Index Target on DNA common stock at $0.81 per share.
Alcoa (NYSE: AA) reported earlier this week a sequential and year-over-year increase in third quarter profit for 2013 driven by strong operating performance and productivity gains, in spite of lower metal prices. Alcoa reported third quarter 2013 net income of $24 million, or $0.02 per share, which includes $96 million of special items primarily tied to optimizing the Company's upstream portfolio. Excluding the impact of special items, net income was $120 million, or $0.11 per share. Results were led by continued strength in Engineered Products and Solutions and Global Rolled Products, despite traditional third quarter weakness. Global Primary Products overcame falling metal prices and lower premiums to deliver significant performance improvement through productivity gains.
Barrick Gold Corporation (NYSE: ABX) recently announced it has completed the divestiture of its Yilgarn South assets ("Yilgarn South") in Western Australia to Gold Fields Limited ("Gold Fields"). The Yilgarn South assets are comprised principally of the Granny Smith, Lawlers and Darlot mines. In aggregate, these mines produced 452,000 ounces in 2012 at all-in sustaining costs (AISC) of $1,137 per ounce[(1)] and 196,000 ounces in the first half of 2013 at AISC of $1,145 per ounce. Yilgarn South contained proven and probable reserves of 2.6 million ounces[(2)], measured and indicated resources of 0.6 million ounces[(2)] and inferred resources of 1.2 million ounces[(2)] as at December 31, 2012, respectively.
GOLDCORP INC.(NYSE: GG) declared earlier this week its tenth monthly dividend payment for 2013 of $0.05 per share. Shareholders of record at the close of business on Thursday, October 17, 2013 will be entitled to receive payment of this dividend on Friday, October 25, 2013. Goldcorp is one of the world's fastest growing senior gold producers. Its low-cost gold production is located in safe jurisdictions in the Americas and remains 100% unhedged.
Yamana Gold Inc. (NYSE: AUY) engages in the exploration, development, and production of mineral properties, primarily gold. It also explores for copper, molybdenum, zinc, and silver metals. The company's property portfolio includes seven operating gold mines, including Chapada mine, Jacobina mining complex, and Fazenda Brasileiro mine in Brazil; El Peñón mine and Minera Florida mine in Chile; Gualcamayo mine in Argentina; and Mercedes mine in Mexico. It also has a 12.5% indirect interest in the Alumbrera copper/gold/molybdenum mine in Argentina, as well as holds interests in various advanced and near development stage projects and exploration properties in Brazil, Chile, Argentina, and Mexico. AUY closed up 1.25% on Wednesday (10/9/2013) on 7.2 Million shares traded by market close.
Newmont Mining Corporation (NYSE: NEM), together with its subsidiaries, engages in the acquisition, exploration, and production of gold and copper properties. The company's assets or operations are located in the United States, Australia, Peru, Indonesia, Ghana, Mexico, and New Zealand. As of December 31, 2012, it had proven and probable gold reserves of approximately 99.2 million ounces and an aggregate land position of approximately 29,000 square miles. NEM closed up .57% on Wednesday (10/9/2013) on 9.5 Million shares traded by market close.
FinancialNewsMedia.com is leading provider of third party publishing & news dissemination services. If you would like more information regarding our news coverage solutions, please visit http://www.financialnewsmedia.com for more details. Get an edge on the market with our Premium News Alerts that are FREE for a limited time at http://www.financialnewsmedia.com/. Follow us on Facebook: http://www.facebook.com/financialnewsmedia and Twitter: http://twitter.com/FNMgroup. Sign up for our FREE SMS News alerts delivered directly to your mobile phone by texting the word PRESS to 545454. (SMS alerts are free, however data rates may apply, check your wireless plan for details.)
DISCLAIMER: FN Media Group LLC (FNMG) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNMG is NOT affiliated in any manner with any company mentioned herein. FNMG and its affiliated companies are a news dissemination and financial marketing solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNMG's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. The companies that are discussed in this release may or may not have approved the statements made in this release. FNMG is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks.
FNMG HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNMG undertakes no obligation to update such statements.
SOURCE FN Media Group LLC