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Thursday, February 16, 2017 3:24:02 AM
Pan American Silver Corp. (Nasdaq, TSX: PAAS), the world’s second-largest primary silver producer, reversed to a profit in the fourth quarter as output rose but costs per ounce fell.
The company also hiked its quarterly dividend and announced an increase in silver mineral reserves
http://www.kitco.com/news/2017-02-15/Pan-American-Silver-Corrects-Adjusted-Profit-Dividend-Hiked.html
UPDATE 2-Barrick posts market-beating profit, boosts spending
Wednesday February 15, 2017 19:03
http://www.kitco.com/news/2017-02-15/UPDATE-2-Barrick-posts-market-beating-profit-boosts-spending.html
UPDATE 1-Canadian gold miner Goldcorp profit beats market forecast
Wednesday February 15, 2017 17:34
http://www.kitco.com/news/2017-02-15/UPDATE-1-Canadian-gold-miner-Goldcorp-profit-beats-market-forecast.html
and Gary Wagner
http://www.kitco.com/commentaries/2017-02-15/US-Equities-and-Precious-Metals-Both-Trade-Higher-Today.html
US Equities and Precious Metals, Both Trade Higher Today
Wednesday February 15, 2017 17:17
gold chart can be seen on the site
Fueled by multiple factors, including statements made by Federal Reserve Chairwoman Janet Yellen and President Donald Trump, today traders witnessed multiple markets moving to higher ground. Most interesting is the fact that these markets typically do not run in tandem. By nature, these asset classes (risk on and risk off) have an intrinsic negative correlation. They tend to move in opposite directions in reaction to the same fundamental events or data report. We have seen this rare occurrence a number of times over the last few months. The question remains as to whether or not these markets will continue to run in the same direction.
It’s Going to be Massive
As only he could frame it, President Trump today reconfirmed his commitment on a tax reform plan. According to President Trump, “We’re doing a massive tax plan”. He went on to say that this plan, “Would be coming in the ‘not-too-distant future.’”
This statement, coupled with extremely solid economic data in the United States, were cited as primary reasons for yet another day in which US equities break records and close at new all-time record highs.
In fact, according to Ryan Vlastlica of MarketWatch, “The stock market is about to deliver its best winning streak in 25 years.” This is based upon the fact that the NASDAQ Index is closing in on one its longest winning streak since 1999.
Although US equities were trading to higher ground prior to the presidential election last year, the pace greatly accelerated immediately following the news that Donald Trump became our 45th president. Since that point, US equities have traded to all-time new record highs on multiple occasions.
However, there is a major caveat. “This is a market benefiting from ‘Trump fairy dust,’ and unfortunately there’s a shelf life for that,” said Alan Gayle, director of asset allocation and senior investment strategist at RidgeWorth Investments.
A Tandem Run
Both the S&P 500 and the Dow Jones gained roughly half of a percent on the day, with the NASDAQ Index gaining .64%. Gold and silver both traded higher today with gold gaining $4.50 (.37%) on the day and silver gaining 4/10 of a percent. It seems that those who believe that US equities will trade higher are possibly hedging their bets.
For those who would like a deeper analysis, I invite you to sign up for a free trial. Simply use the link at the bottom of this report to view this week’s report, or to sign up for a free trial.
Wishing you as always, good trading,
Gary Wagner
Thegoldforecast.com
Recent PAAS News
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 09/12/2024 01:05:32 PM
- Pan American Silver Reports Mineral Reserves and Mineral Resources as at June 30, 2024 • Business Wire • 09/12/2024 01:07:00 AM
- Pan American Silver Reports Unaudited Second Quarter 2024 Results • Business Wire • 08/07/2024 09:02:00 PM
- Pan American Silver to Announce Second Quarter 2024 Unaudited Results • Business Wire • 07/09/2024 09:05:00 PM
- Pan American Silver Provides Mid-Year Exploration Update • Business Wire • 06/17/2024 09:05:00 PM
- Pan American Silver Releases 2023 Sustainability Report • Business Wire • 05/23/2024 09:23:00 PM
- Pan American Silver Announces Results of Annual General and Special Meeting • Business Wire • 05/09/2024 03:14:00 AM
- Pan American Silver Reports First Quarter 2024 Results • Business Wire • 05/08/2024 09:30:00 PM
- Pan American Silver Announces the Sale of La Arena for US$245 Million Cash Upfront and US$50 Million Contingent Payment • Business Wire • 05/01/2024 09:14:00 AM
- Pan American Silver to Announce First Quarter 2024 Unaudited Results and Host Annual General and Special Meeting of Shareholders on May 8 • Business Wire • 04/09/2024 09:05:00 PM
- Pan American Silver reports additional high-grade drill results from the La Colorada Skarn project • Business Wire • 04/08/2024 05:00:00 AM
- Pan American Silver Announces Normal Course Issuer Bid • Business Wire • 03/04/2024 11:55:00 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 02/22/2024 02:50:20 AM
- Pan American Silver Reports Audited Financial Results for 2023 and Announces Intention to Make a Normal Course Issuer Bid • Business Wire • 02/22/2024 02:18:00 AM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/06/2024 02:36:35 PM
- Pan American Silver Announces Preliminary 2023 Production Results and Guidance for 2024 • Business Wire • 01/17/2024 11:00:00 AM
- Pan American Announces Preliminary Economic Assessment of the La Colorada Skarn Project • Business Wire • 12/19/2023 12:58:00 AM
- Pan American Silver Provides Annual Exploration Update • Business Wire • 12/05/2023 10:12:00 PM
- Pan American Silver Reports Third Quarter 2023 Results • Business Wire • 11/07/2023 10:05:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 10/12/2023 09:08:59 PM
- Pan American Silver Provides Notice of Third Quarter 2023 Unaudited Results and Conference Call • Business Wire • 10/12/2023 09:02:00 PM
- Pan American Silver Provides an Update on the Restart of Operations at the La Colorada Mine • Business Wire • 10/11/2023 09:20:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 10/06/2023 04:50:55 PM
- Pan American Silver Temporarily Suspends Operations at the La Colorada Mine • Business Wire • 10/06/2023 02:44:00 AM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 09/29/2023 09:13:55 PM
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