Adrian Day provides an overview of recent developments at three resource companies on his list. The recent pullback in precious metals stocks has provided opportunities to add to positions, and there is one buy.
Hedge funds and other large speculators held a net-short position, or bets on price declines, of 4,991 U.S. copper futures and options contracts in the week ended Aug. 23, according to Commodity Futures Trading Commission data released three days later. They switched from a net-long position, or wagers on a rally, of 2,237 a week earlier.
Maybe in better times, the staggering population of the millennial demographic would be a hurdle over which Big Oil could easily leap. But times are tough, and that isn’t our today.
Construction has begin on a new heap leach facility at Rye Patch Gold Corp.'s Florida Canyon Mine in Nevada, a move that Dundee Capital Markets' analyst Ron Stewart believes could add value for investors over both the long and short terms.
The possible plant closure, which could cost around 2,000 jobs, is part of a global restructuring plan announced in September that could see CAT cutting as many as 10,000 jobs globally in the coming years.