NEW YORK, January 31, 2017 /PRNewswire/ --
Stock-Callers.com has initiated coverage on the following Gold equities: IAMGOLD Corp. (NYSE: IAG), Gold Fields Ltd (NYSE: GFI), Eldorado Gold Corp. (NYSE: EGO), and Harmony Gold Mining Co. Ltd (NYSE: HMY). In its first Gold market outlook for 2017, Reuters GFMS said gold prices have started the year by making up some of the losses from late last year. However, the US dollar is likely to remain a substantial headwind to further price rises, at least in the first half of 2017. Reuters GFMS sees gold prices averaging at $1,259 an ounce this year. Learn more about these stocks by downloading their free research reports in PDF format at:
On Monday, shares in Toronto, Canada headquartered IAMGOLD Corp. recorded a trading volume of 8.75 million shares. The stock ended at $4.51, rising 0.89% from the last trading session. The Company's shares have gained 23.22% in the last one month, 14.76% over the previous three months, and 17.14% since the start of this year. The stock is trading above its 50-day and 200-day moving averages by 13.72% and 12.29%, respectively. Furthermore, shares of IAMGOLD, which explores for, develops, and operates mining properties in North and South America, and West Africa, have a Relative Strength Index (RSI) of 57.89.
On January 13th, 2017, research firm Credit Suisse downgraded the Company's stock rating from 'Neutral' to 'Underperform'.
On January 26th, 2017, IAMGOLD announced the positive results of a Preliminary Economic Assessment for its Côté Gold Project (Project) in Northern Ontario. The Company also received approval of the Project's provincial environmental assessment from the Ontario Ministry of Environment and Climate Change on January 25th, 2017, which follows the positive decision on the federal environmental assessment issued by the Federal Minister of Environment and Climate Change in April 2016. Positive decisions on the federal and provincial environmental assessments for the Project clear the way for the Company to initiate applications on permits to support development following the completion of a pre-feasibility study. Sign up and read the free research report on IAG at:
Sandton, South Africa-based Gold Fields Ltd's stock finished yesterday's session 2.02% lower at $3.39 with a total trading volume of 5.28 million shares. The Company's shares have gained 13.00% in the last one month and 12.62% on an YTD basis. The stock is trading above its 50-day moving average by 7.04%. Furthermore, shares of Gold Fields, which produces gold and holds gold reserves in South Africa, Ghana, Australia, and Peru, have an RSI of 52.24. The complimentary research report on GFI can be downloaded at:
At the closing bell on Monday, shares in Vancouver, Canada headquartered Eldorado Gold Corp. saw a slight drop of 0.87%, ending the day at $3.40. The stock recorded a trading volume of 3.04 million shares. The Company's shares have advanced 6.25% in the last one month, 2.10% in the previous three months, and 5.59% on an YTD basis. The stock is trading 9.88% above its 50-day moving average. Moreover, shares of Eldorado Gold, which together with its subsidiaries, engages in the exploration, development, and mining of gold properties in Turkey, China, Greece, Brazil, and Romania, have an RSI of 54.73.
On January 06th, 2017, Eldorado reported full year 2016 gold production of 485,994 ounces. The Company's full year 2016 cash operating costs averaged $578 per ounce, considerably lower than original full year 2016 guidance of $585-620 per ounce. Eldorado closed the year with total liquidity of approximately $1.1 billion, including $880 million in cash, cash equivalents, and term deposits, and $250 million in undrawn lines of credit. For full year 2017, Eldorado is projecting gold production of 365,000-400,000 ounces, in addition to substantial by-product credits from Olympias Phase II production. Full year 2017 all-in sustaining cash costs are expected to remain low at $845-875 per ounce; and cash operating costs expected to decline significantly, averaging $485-535 per ounce. Register for free on Stock-Callers.com and access the latest report on EGO at:
Harmony Gold Mining
Randfontein, South Africa-based Harmony Gold Mining Co. Ltd's stock ended the day 2.05% higher at $2.49 with a total trading volume of 4.03 million shares. The Company's shares have gained 14.22% in the last month and 12.67% since the start of this year. The stock is trading 8.10% above its 50-day moving average. Additionally, shares of Harmony Gold Mining, which engages in the exploration and mining of gold in South Africa and Papua New Guinea, have an RSI of 55.43.
On January 17th, 2017, Harmony Gold announced that gold production for the six months ended December 31st 2016 was approximately 8% higher than for the 6 months ended June 30th 2016. Get free access to your research report on HMY at:
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