Hochschild Mining plc ("the Company") Result of AGM

The Company announces the results detailed below of the poll taken at the Annual General Meeting ("AGM") held this afternoon at which all proposed resolutions were passed.

Copy of Resolutions

A copy of the resolutions passed as Special Business at the Annual General Meeting is being submitted to the UK Listing Authority and will shortly be available for inspection at the National Storage Mechanism document viewing facility at: http://www.morningstar.co.uk/uk/nsm

Note

The number of Ordinary Shares in issue on 23 May 2018 at 6pm was 508,893,115. Shareholders are entitled to one vote per share.  A vote withheld is not a vote in law and is not counted in the calculation of the proportion of votes cast.

Enquiries: Hochschild Mining plc
Raj Bhasin	+44 (0)20 3709 3260
Company Secretary
Hudson Sandler
Charlie Jack	+44 (0)20 7796 4133
Public Relations

Resolution			VOTES FOR		% OF VOTES CAST 1		VOTES AGAINST		% OF VOTES CAST 1		TOTAL VOTES		VOTES WITHHELD
1	Receipt of 2017 Report and Accounts		403,837,272		99.83%		703,677		0.17%		404,540,949		504,782
2	Approve 2017 Directors' Remuneration Report		337,129,308		84.54%		61,660,570		15.46%		398,789,878		6,255,854
3	Approve the Directors' Remuneration Policy		392,578,326		96.92%		12,459,724		3.08%		405,038,050		7,681
4	Approve the final dividend		404,988,633		99.99%		57,098		0.01%		405,045,731		1
5	Re-elect Graham Birch		394,692,513		97.44%		10,352,905		2.56%		405,045,418		314
	Votes of the independent shareholders2		136,127,140		92.93%		10,352,905		7.07%		146,480,045		314
6	Re-elect Jorge Born Jr.		404,282,212		99.81%		763,205		0.19%		405,045,417		314
	Votes of the independent shareholders2		145,716,839		99.48%		763,205		0.52%		146,480,044		314
7	Re-elect Ignacio Bustamante		404,438,861		99.85%		606,556		0.15%		405,045,417		314
8	Re-elect Eduardo Hochschild		386,728,249		95.48%		18,317,168		4.52%		405,045,417		314
9	Re-elect Eileen Kamerick		394,396,108		97.37%		10,649,310		2.63%		405,045,418		314
	Votes of the independent shareholders2		135,830,735		92.73%		10,649,310		7.27%		146,480,045		314
10	Elect Dionisio Romero Paoletti		328,927,834		81.21%		76,117,584		18.79%		405,045,418		314
11	Re-elect Michael Rawlinson		394,377,613		97.37%		10,667,805		2.63%		405,045,418		314
	Votes of the independent shareholders2		135,812,240		92.72%		10,667,805		7.28%		146,480,045		314
12	Re-elect Sanjay Sarma		404,438,861		99.85%		606,556		0.15%		405,045,417		314
	Votes of the independent shareholders2		145,873,488		99.59%		606,556		0.41%		146,480,044		314
13	Re-appoint Ernst & Young LLP as auditors		404,647,473		99.95%		185,920		0.05%		404,833,393		212,338
14	Authorise the Audit Committee to set the auditors' remuneration		405,040,648		100.00%		1,646		0%		405,042,294		3,438
15	Authorise directors to allot shares/grant rights to subscribe for or to convert any securities into shares		403,725,420		99.67%		1,316,874		0.33%		405,042,294		3,438
16	Approve the 2018 Hochschild Mining plc Long Term Incentive Plan		397,273,703		98.08%		7,759,277		1.92%		405,032,980		12,751
17	Disapply statutory pre-emption rights		404,792,386		99.94%		236,039		0.06%		405,028,425		17,307
18	Disapply statutory pre-emption rights to finance an acquisition or other capital investment		400,820,509		98.96%		4,210,019		1.04%		405,030,528		15,203
19	Authorise the Company to make market purchases of own shares		404,857,890		99.96%		176,171		0.04%		405,034,061		11,670
20	Authorise general meetings other than AGMs to be called on not less than 14 clear days' notice		400,506,412		98.88%		4,539,319		1.12%		405,045,731		1

1. Excludes votes withheld

2. Under Listing Rule 9.2.2E R, resolutions on the re-election of any independent director must be approved by (a) the shareholders of the Company; and (b) the independent shareholders of the Company.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

 

END

 

 

RAGSEAFMIFASESI

AngloGold Ashanti (AU) Stock Fell Today on Declining Gold Prices

By Tony Owusu

| 02/06/15 – 04:15 PM EST

NEW YORK (TheStreet) — AngloGold Ashanti
(AU – Get Report) shares closed trading down 5.62% to $12.26 on Friday as gold prices fell today on positive U.S. job growth numbers that may be a precursor to higher Fed interest rates.

COMEX gold prices for April delivery are down 2.08% to $1,236.40 per ounce while spot gold is down 2.29% to $1,235.91 per ounce in trading today.

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The lower prices may be the result of today’s strong jobs numbers as analysts suspect that an improving U.S. economy will spur the Federal Reserve to raise interest rates as early as June, according to the Wall Street Journal.

The U.S. economy added 257,000 jobs in January the Labor Department said today, beating analysts’ 237,000 job forecast.

TheStreet Ratings team rates ANGLOGOLD ASHANTI LTD as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:

“We rate ANGLOGOLD ASHANTI LTD (AU) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company’s weaknesses can be seen in multiple areas, such as its generally high debt management risk and poor profit margins.”

Highlights from the analysis by TheStreet Ratings Team goes as follows:

• The debt-to-equity ratio of 1.24 is relatively high when compared with the industry average, suggesting a need for better debt level management.
• The gross profit margin for ANGLOGOLD ASHANTI LTD is currently lower than what is desirable, coming in at 32.93%. It has decreased from the same quarter the previous year. Along with this, the net profit margin of 3.08% significantly trails the industry average.
• The company’s current return on equity greatly increased when compared to its ROE from the same quarter one year prior. This is a signal of significant strength within the corporation. Compared to other companies in the Metals & Mining industry and the overall market on the basis of return on equity, ANGLOGOLD ASHANTI LTD underperformed against that of the industry average and is significantly less than that of the S&P 500.
• This stock’s share value has moved by only 22.23% over the past year. The fact that the stock is now selling for less than others in its industry in relation to its current earnings is not reason enough to justify a buy rating at this time.
• AU, with its decline in revenue, underperformed when compared the industry average of 6.5%. Since the same quarter one year prior, revenues slightly dropped by 5.4%. The declining revenue has not hurt the company’s bottom line, with increasing earnings per share.
• You can view the full analysis from the report here: AU Ratings Report

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Here's a scary chart for gold bugs

Gold hasn't been shining recently.

The yellow metal fell yet again this past week. In fact, it has closed lower for its third week in a row. Its 5.1 percent loss during that period is its worst three-week performance since Nov. 7.

Things have been tough for bullion for quite some time already. The World Gold Council reported on Thursday that the demand for physical gold in the form of coins and bars were at five-year lows in 2014. The price for the metal is now trading where it was at the start of last year.

According to one portfolio advisor, gold's recent decline will continue because of an appreciating dollar and because of an increase demand for stocks and bonds.

"Gold is priced in U.S. dollars, so as the U.S. dollar goes up against other currencies, gold becomes much more expensive for investors outside of the U.S.," explained Erin Gibbs, equity chief investment officer at S&P Capital IQ Global Markets Intelligence. "That helps keep the price of gold down."

Since the start of the second half of last year, the U.S. Dollar Index – a basket of several major currencies versus the greenback – has soared 18 percent. Gibbs, who has over $15 billion in assets under advisory, also sees record-high stocks and a rallying global bond market as hurting gold.

"Gold is really just used as a safe haven when you see a lot of turmoil and uncertainty in either the equity or bond market," she said. "Though we may not have great stories right now, we don't have a lot of turmoil. It's actually pretty stable."

"Between these two effects, we're really going to see a continued bearish trend," concluded Gibbs.

The technicals are also grim for gold, according to one leading technical analyst.

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"You're still making a series of lower lows and lower highs off of the peak since 2011," said Craig Johnson, senior research analyst at Piper Jaffray. He views the gold's run-up earlier this year as nothing more than a relief rally that will face downtrend resistance, currently at $1,350 per troy ounce.

And that spells trouble for bullion.

"The downside objective is going to be about $1,050," warns Johnson, who is also president of the Markets Technicians Association. "That could probably be reached this year."

Johnson agrees with Gibbs that part of the reason for gold's impending doom will be due to other markets' success.

"The secular bull market that we have been calling for and that is really unfolding is still very much on track," he said. "Gold is not going to participate, and I would step aside."

• Commodity Markets
• Markets & Exchanges
• World Gold Council
• price of gold

Why gold may have just capitulated

Big money is running away from gold.

According to data from the U.S. Commodity Futures Trading Commission (CFTC), "managed money" (as in fund managers) have been getting out of gold over the past three weeks at their fastest rate in 2014. And last week, the World Gold Council reported demand for gold bars and coins fell 21 percent in the third quarter of this year compared with  last year.

But with both small and large investors now having seemingly fled gold, is there anyone left to sell?

"This fleeing from gold in terms of the flows does represent a big capitulation," said Gina Sanchez, founder of Chantico Global. "However in the short-term, this could actually represent a massive overselling."

In the end, a long-term outlook for higher U.S. interest rates, a subsequently stronger dollar, and an improving economy will do their part to bring bullion lower, argues Sanchez, a CNBC contributor. "The long term really isn't going to be a free-fall," she predicted. "It's just going to be a continued devaluation of gold relative to other currencies."

The charts don't look much better according to one well-followed technician.

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"Gold still looks negative here," said Mark Newton, chief technical analyst at Greywolf Execution Partners. "With the U.S. dollar rallying, we continue to think that gold is going to move lower. My target is down near $1,100 – between $1,080 and $1,111."

Gold may have made its way back above a major support level around $1,180 to $1,190 broken a few weeks ago, notes Newton, but the recent rally may not be enough evidence it has turned itself around, he maintains. "Gold bulls are really going to need to see gold move back up above an area near $1,255 to think that lows are in and the metal can continue to rise," he said.

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And it is in the long-term chart that Newton sees an important support level where he thinks gold is headed. "Gold has gotten a bit oversold and we've gotten very pessimistic," he said, "but it's still likely we can move down towards $1,080, which is 50 percent of the entire rally from 1999 up to 2011. Potentially, gold could bottom out but I still think it happens from lower levels. Structurally, it's wrong to get too bullish here just yet based on a couple of days' movement. I'm still very pessimistic."

• Gold Investing
• Finance
• World Gold Council
• gold bars

Why now is a great time to sell gold

Gold may be inching its way back to $1,200 per troy ounce but one major bank is saying shorting the yellow metal is one of the best ideas for 2015.

In a recent report, Credit Suisse global head of technical analysis David Sneddon makes the case for gold to trade down to $950 by the end of next year. That would mean a 20 percent drop from Tuesday's prices.

In the last two years, the price of bullion has declined 30 percent, and it's 37 percent off its 2011 record high.

(Watch: Why is Putin buying gold?)

But can gold sink to $950 in the next 13 months? One trader believes so and has even taken a position on it.

"I am short gold long term," said David Seaburg, head of sales trading at Cowen and Company. Though he did predict a short-term pop for gold on "Talking Numbers" two weeks ago, he believes the metal is headed down.

"You're going to have little pockets of trades that occur as we get more global uncertainty," Seaburg said. "But ultimately I think the trajectory for gold is down, and I do believe that being short it is the trade right now."

(Read: Gold ends near $1,200 on soft dollar; highest since Oct)

Seaburg cites several reasons why gold is in trouble. With foreign central banks adding stimulus to their economies, their currencies are depreciating against the U.S. dollar. A stronger greenback is negative for dollar-denominated bullion. As well, inflation is not a concern so the need for gold to be a safe-haven asset is diminished.

"I can make an argument right now that U.S. equities are right now the ultimate safe-haven asset," Seaburg said. "I am a short-seller of gold and I think it's going a lot lower. I think $950 is definitely in sight."

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The technicals corroborate Seaburg's thesis, said Ari Wald, head of technical analysis at Oppenheimer & Co.

"Gold has been trying to stabilize for the last year but I don't see this as a very strong base," he said, looking at a chart of gold. Wald considers a downward turn in the 200-day moving average and the recent drop below $1,200 per ounce as a negative signs, too. "That is indicating a resumption of this long-term downtrend that started in 2012," he said.

Gold is also about to hit resistance at its 50-day moving average, currently at $1,210. "I see this as a great time to sell gold," Wald said.

• Gold Investing
• Finance
• David Sneddon

Australia Pacific: Production down due to asset sales

Barrick Gold: Strong 3Q14 earnings, important opportunities (Part 9 of 16)

(Continued from Part 8)

Australia Pacific's assets

Barrick Gold Corporation's (ABX) Australia Pacific unit includes its 95% interest in the Porgera mine and the Cowal mine, and its 50% interest in the Kalgoorlie mine. The remaining 50% is owned by Newmont Mining (NEM). In its ongoing portfolio optimization efforts, Barrick Gold (ABX) sold Yilgarn South and Plutonic, its other two interests in Australia Pacific, and divested its interest in the Kanowna mine.

Production down due to asset sales

Following the sales of Yilgarn South, Kanowna, and Plutonic assets in this division, Barrick's gold production decreased by 41% in 3Q14 from the third quarter of last year. Production for the remaining sites was higher than the previous corresponding period of 3Q14. Total production for Australia Pacific was 292,000 ounces. All-in sustaining costs (or AISC) was $855 per ounce, a decrease of $65 per ounce due to a decrease in mine-site sustaining capital expenditure.

Improved guidance

Production guidance for 2014 has increased to 1.05 to 1.125 million ounces due to higher production rates at Porgera Mine. This increase was due to higher throughput and processed grade resulting from higher-than-expected ore tons from Stage 5A of the open pit and higher tons from the underground as mining rates continue to ramp up. AISC guidance was also reduced to $885 to $910 per ounce. This is mainly due to the impact of higher production and lower direct operating costs as a result of lower power costs at Cowal and lower open-pit costs at Porgera.

Barrick Gold recently changed the mine plan for Porgera and Kalgoorlie and went for high grading, or mining the higher-grade part of the mine first. Barrick Gold's (ABX) peers, including Newmont Mining Corp (NEM), Freeport-McMoRan Inc (FCX), and Randgold Resources Ltd (GOLD), are also facing increasing costs. As a result, mine-plan changes have been initiated at these companies as well.

The Market Vectors Gold Miners exchange-traded fund (or ETF) (GDX) invests in big gold producers, while the Standard and Poors depositary receipt (or SPDR) Gold Trust ETF (GLD) provides exposure to the spot gold prices.

Continue to Part 10

Browse this series on Market Realist:

• Part 1 – Barrick Gold reports strong 3Q14 earnings
• Part 2 – World's largest gold producer: Barrick Gold
• Part 3 – Barrick's Cortez mine: Production down year-over-year

• Commodity Markets
• Basic Materials Industry
• Barrick Gold
• Newmont Mining

The Commodity Supercycle Ain't Over - Yet

As surprising as it might sound today, we believe the secular trend for commodities has higher elevations to travel, before eventually running its course – possibly as far out as early into the next decade. While in 2011 we became adamant that the thesis trade in commodities – specifically in its leading sector of precious metals, had become crowded and overhyped, those excesses have been wrung out of the markets over the past three and a half years and offer what we perceive to be extremely compelling long-term valuations going forward. 

This idea remains supported by our research that implies yields are not headed materially higher anytime soon – despite the anxieties surrounding the Fed raising interest rates over the next few years. Moreover, we expect that real yields (nominal – inflation) will remain suppressed and eventually retrace the rise that began in the back half of 2011. 

When the real yield cycle finds its zero bound and breaks below, commodities tend to outperform in the market over an extended period of time. All things considered, the death knell spike in real yields that has historically punctuated the end of major commodity booms in the past – has yet to appear for us on the horizon. 

Over the years we have shown a long-term Hawking view of the nominal yield cosmos, which depicts an antithetic and gradual troughing, versus the violent and exhaustive secular peak in yields the markets experienced in the early 1980's. While 10-year yields this year have retraced back to the mid point of our expected range (1.5%-3.0%), taking into account the symmetrical structure and mirrored return of the long-term yield cycle,  an estimated secular pivot higher would not take place until early in the next decade. 

When it comes to a roadmap for short-term yields going forward, we looked back at the last time 3 month Treasury yields broke below 0.5% in 1934 and troughed over the next 13 years until 1947. Notwithstanding the failed rate hike regime by the Fed in 1937, the current market has closely followed the historic comparative performance trajectory of that time. Interestingly, by normalizing a duration study to that period (see below), the estimated run below 0.5% would also extend early into the next decade. 

From our perspective, the broader cycle takeaways are:

- Although the Fed may tweak short-term yields gradually higher at some point in the future, the expectations by participants of a one – and certainly two or three handle, in front of the fed funds rate – appear wildly optimistic over the next few years.

- We believe the extended and gradual basing structure of the historic cycle reflects more realistic expectations for yields and the natural equilibrium that the Fed will ultimately be guided and constrained by – just as they were across the trough of the cycle last time around. 

As shown in our first chart that depicts both the long-term nominal and real yield cycles, commodities have outperformed along runs leading up to the nominal peak in yields and through the nominal trough of the cycle. From a comparative perspective, the 1970's commodity boom that ran commensurate with the yield peak was roughly half the duration of the commodity boom that ran through the trough in the 1930's and into the early 1950's. This makes logical sense to us, considering what we know of the nominal yield cycles structure – i.e. shorter exhaustive highs versus long drawn out troughs.

When comparing the performance of the CRB index between the 1970's supercycle and today, you might come to the initial conclusion that the current cycle hasn't been that super after all. In fact, the current cycle (as expressed by the CRB) would roughly fit within the performance envelope of the first leg of the 1970's market (71'-78') – despite being more than twice as long. Complicating the tea leaves of the current market was the major currency dislocations in the financial crisis, which caused an overshot on both the top and bottom sides of the performance ranges. 

That said, when we extrapolate a normalized comparative study – balanced by momentum (RSI and stochastics) signatures across the complete run of the 1971-1980 boom, we find an estimated comparative leg higher up to the early part of the next decade. Fittingly, this would roughly match the duration of the previous commodity boom that extended for ~20 years along the mirrored trough of the long-term yield cycle in the early 1930's and 1950's.

While the recent prognostications of $700/ounce gold and $50/barrel oil make for great hyperbole by the bears and in the punditsphere, we view them as the typical overshots that are thrown around during the final throes of capitulation. In as much as markets tend to overshoot significant moves, expectations soon follow – always in the same direction of where a market has been trending. With commodities remaining under pressure since Q2 2011, recency biases have entrenched towards further downside in the future. For gold to reach $700/ounce or oil $50/barrel, real yields would be pushed significantly higher – essentially repeating the performance declines for both assets that began in 2011. From what our anticipated range implies for nominal yields over the next few years and h ow eroded inflation expectations have become today, both targets appear grossly unrealistic. Contrary to conventional wisdom in the market today, we still believe hard commodities such as gold and oil will once again outperform – greatly supported by the tangential performance trends in catalysts such as China and emerging markets. 

You'll find that for many of the commodity cycle bears today, their theses hinge on a continued catalytic decline in China. This is predominantly because China had played such a pivotal role through the first boom of the commodity cycle in the massive demand created by significant investments in infrastructure and urban development. While the excesses in China have been well described and rigorously debated for the better part of this decade, the just how bad the crash will be expectations by the policy bears have so far been largely unfounded. 

Quite the contrary, although these concerns remain at the forefront of debate as growth in China has slowed, the leading edge in their equity markets have surprised (finally) many this year – and broken out from a 5 year consolidating range. 

As much as their arguments are well founded with cogent logic, the reality becomes that  increased capital flows and resurrected confidence in Chinese markets will have a mitigating effect on the immanent credit conditions that academics and strategists such as Paul Krugman and Michael Pettis have been greatly concerned with over the past several years – and whom largely expected significant pressures to remain on the commodity markets as China would be forced into a long and painful economic rebalancing. 

While it remains to be seen weather China has its comparative 82' awakening (see above) or its much anticipated bust, we do believe the recent positive developments in their capital markets will provide a constructive rather than destructive environment for the commodity sector over the next year. All things considered, we'll still take that bet and doubt we will ever see $700 gold or $50 oil again in our lifetime. From our perspective, $1400 and $100 appear more likely in 2015 – and by 2022… the super may have shown up again in this cycle.

Anatomy of a Nasdaq 100 Scan

The stock market's ability to close higher last week has improved the weekly technical outlook but the volume is still not confirming the price action.  Nevertheless, the short-term momentum is positive as we enter a two-week seasonal period where stocks are generally weak.

The PowerShares QQQ Trust (QQQ) is still a market leader as it is up over 18.2% YTD compared to just a 12.1% gain in the Spyder Trust (SPY).  As I outlined in Friday's Week Ahead column Two Potential Stock Market Scenarios, there are two paths for the stock market that I think are the most likely for the next few weeks.

Whether the market sees a sharp setback or a period of sideways consolidation, there are some stocks that are just in the process of bottoming and are likely to diverge from the overall market. Therefore, I continue to run my regular weekly scans to find those stocks that look the most promising.

One of the scans focused on the Nasdaq 100 stocks as I first looked for those stocks where the OBV was above its WMA. For the Nasdaq 100, there were 58 stocks that met this criteria.

This group of stocks was then analyzed further to isolate those where the daily OBV has just moved above its WMA. These stocks had, therefore, just triggered a buy signal from Aspray's OBV Trigger (AOT).

Only nine of the 58 stocks passed this test. I then examined these stocks basis their charts and relative performance analysis. Here are three that looked the most interesting.

Click to Enlarge

Chart Analysis: The PowerShares QQQ Trust (QQQ) closed last week at $103.21, which is just barely below the weekly starc+ band at $103.91.

• The quarterly projected pivot resistance is at $104.74, and in the 3rd quarter, the QQQ came close to the quarterly resistance before the October decline.
• There is initial weekly support now at $100-$100.67, which also corresponds to the 20-day WMA.
• There is more important support at the quarterly pivot, which stands at $97.59.
• The relative performance closed the week at a new high, further confirming the QQQ as a market leader.
• The RS line broke through major resistance, line c, in July.
• The weekly OBV just moved back above its WMA last week.
• The daily OBV (not shown) is well above its WMA and confirming the price action.

A surprising stock that showed up in the scan was Randgold Resources (GOLD), a $6.7 billion sub-Saharan gold mining company.

• It has clearly been diverging from gold prices as hedge funds cut their long futures and option positions by 14% last week.
• GOLD is up 10.2% YTD, while the SPDR Gold Shares (GLD) is down 1.4%.
• The weekly chart shows that GOLD has formed lower lows, line f, going back to 2013.
• GOLD came close to its weekly starc- band three weeks ago.
• The relative performance did drop below support (line h) at the November lows.
• A move in the RS above the resistance at line g, is needed to signal that it is a market leader.
• The weekly on-balance volume (OBV) has formed a long-term bullish divergence, line j, that goes back to the early 2014 lows.
• The OBV is back above its WMA and has key resistance at line i.
• The 20-day EMA is at $65.14 with the monthly pivot at $62.37.

Click to Enlarge

Broadcom Corp. (BRCM) made new highs for the year on Friday as it closed not too far below the weekly starc+ band at $43.42.

• The long-term chart shows a basing formation going back to 2002 (I will Tweet later) with key resistance at $44.97 to $47.41.
• A move above this major resistance could complete a long-term bottom as BRCM peaked at over $173 in 2000.
• The weekly chart shows a band of good support in the $37.80 to $39.80 area, line a.
• This also corresponds to the quarterly pivot ($39.50) and quarterly support ($37.36).
• The weekly chart shows a strong uptrend (line b) that goes back to the 2013 lows.
• The weekly RS line also shows a solid uptrend, line c, consistent with a market leader.
• The RS line is also above its WMA.
• The OBV now shows a short-term uptrend, line d, as it has just moved back above its WMA.

Wynn Resorts Ltd. (WYNN) has held up well despite reporting a decrease in revenues in September. This was mainly tied to lower revenues from Macau and the stock is down 2% YTD.

• The weekly chart shows a well established downtrend from the early 2014 highs, line e.
• This decline has dropped the stock into the 38.2-50% support of the rally from the July 2012 lows.
• The 20-day EMA is at $189.70 with further weekly resistance at $192.45.
• The weekly relative performance also shows a well established downtrend, line f.
• The RS line turned up last week but is still below its WMA.
• The weekly OBV looks more positive as it has broken its downtrend, line g, and moved above its WMA.
• The daily OBV (not shown) is still negative.
• There is initial support now at $178-$180 area with stronger at $176.50.
• A drop below the 168.80 level would abort the bottom formation.

What it Means: All three of these stocks should be watched even though the Powershares QQQ Trust (QQQ) is in a high risk buy area.  My recent analysis of gold and the gold miners suggested it would take several weeks or more before they could bottom.

Last Friday's sharp rally was impressive, but would wait for weekly/daily confirmation of a bottom for the whole industry before buying Randgold Resources (GOLD).

I will be watching both Broadcom Corp. (BRCM) and Wynn Resorts Ltd. (WYNN) for a good entry points.

How to Profit: No new recommendation.

3 Stocks Raising The Metals & Mining Industry Higher

Editor’s Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

One out of the three major indices are trading lower today with the
Dow Jones Industrial Average (
^DJI) trading down 15 points (-0.1%) at 17,638 as of Friday, Nov. 14, 2014, 12:00 PM ET. The NYSE advances/declines ratio sits at 1,511 issues advancing vs. 1,431 declining with 199 unchanged.

The Metals & Mining industry currently sits up 1.3% versus the S&P 500, which is unchanged. Top gainers within the industry include
Eldorado Gold (
EGO), up 5.0%,
Franco-Nevada (
FNV), up 3.8%,
Barrick Gold (
ABX), up 3.0%,
Goldcorp (
GG), up 2.6% and
Silver Wheaton (
SLW), up 2.7%. On the negative front, top decliners within the industry include
Turquoise Hill Resources (
TRQ), down 1.4%, and
POSCO (
PKX), down 1.0%.

TheStreet would like to highlight 3 stocks pushing the industry higher today:

3.
Southern Copper (
SCCO) is one of the companies pushing the Metals & Mining industry higher today. As of noon trading, Southern Copper is up $0.41 (1.4%) to $29.80 on light volume. Thus far, 514,270 shares of Southern Copper exchanged hands as compared to its average daily volume of 1.9 million shares. The stock has ranged in price between $29.02-$29.82 after having opened the day at $29.21 as compared to the previous trading day’s close of $29.39.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Southern Copper Corporation is engaged in the mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Chile, and Ecuador. Southern Copper has a market cap of $24.5 billion and is part of the basic materials sector. Shares are up 2.4% year-to-date as of the close of trading on Thursday. Currently there are 4 analysts who rate Southern Copper a buy, no analysts rate it a sell, and 4 rate it a hold.

TheStreet Ratings rates
Southern Copper as a
buy. The company’s strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins, increase in stock price during the past year and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full
Southern Copper Ratings Report now.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

1 of 3

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Gold is doing something it hasn't done in 17 years

Gold bugs are having flashbacks of the late '90s.

But it's not Hanson or "Seinfeld" on their minds. Instead, it's the sobering realization that gold is about to do something depressing.

If gold were to close out the year right now where it is, it would be looking at its first back-to-back yearly loss since 1997. The precious metal is currently off almost 4 percent on the year. The surging dollar and lack of inflation has taken the shine off gold. But with so much going wrong, could now be the time to buy bullion?

"I think gold is headed straight down," said CNBC contributor Gina Sanchez, founder of Chantico Global. She sees a stronger dollar, economic optimism and rising rates ahead for the U.S. all conspiring to push the metal's price down. Add to that flat inflation in China and the potential of deflation in Europe and you have a recipe for cheaper gold.

"None of those things are going to support gold," Sanchez said. "You might get some firming in the physical markets but it's just not enough to combat the outflows in the financial markets."

The charts don't look much better.

View photo

.

"What we're seeing in the trend is that this can continue," said Ari Wald, head of technical analysis at Oppenheimer & Co. "We would be playing for lower gold prices. As pessimistic as sentiment has gotten, we think it becomes more pessimistic."

For well over a year, gold has been making a base, with support around $1,200 per ounce, according to Wald's charts. But with prices falling below that level, that may have failed.

"We see $1,200 now as resistance and we are viewing this as a resumption of the very long-term downtrend that started in 2012," Wald said. "Until gold can stabilize, we see downside risk to $1,000."

The $1,000 level is significant technically, not just because it's a nice round number but because it was strong resistance in the time between 2007 and 2009, said Wald.

"It was prior resistance for a few years in there and I think that might be a floor here," he said. "The worst-case scenario is gold can't stabilize and the trend continues lower."

• Gold Investing
• Finance

Randgold Resources announces 3rd Quarter Results

JERSEY, CHANNEL ISLANDS–(Marketwired – Nov 6, 2014) – Randgold Resources (NASDAQ: GOLD)(LSE: RRS)

NASDAQ: GOLD
LSE: RRS
RANDGOLD RESOURCES LIMITED
Incorporated in Jersey, Channel Islands
Reg. No. 62686
LSE Trading Symbol: RRS
NASDAQ Trading Symbol: GOLD
ROBUST Q3 RESULTS POINT WAY TO RECORD YEAR FOR RANDGOLD
London, Thursday 6 November 2014 - The ongoing ramp-up of the Kibali
mine led a strong overall performance by all of Randgold's operations
in a quarter in which production reached a new record level and costs
were well contained.
Results for the three months to September, released today, show
production of 299 320 ounces, up 8% on the previous quarter.
Production for the first nine months of the year was up 37% on the
comparable period in 2013, reflecting Kibali's contribution and the
impact of expansion and upgrade projects at the other operations.
Total cash cost per ounce of $692/oz was well contained, down 1% on
the previous quarter.
Earnings per share increased by 11% to    $0.63 quarter on quarter but
profit was affected by foreign exchange adjustments and at $66.0
million was just marginally ahead of the previous quarter. Profit from
mining of $172.6 million was up 6% quarter on quarter. By the end of
the quarter, Randgold had returned to its debt-free status, having
repaid its revolving credit facility.
Kibali is nearing operational stability as it continues to ramp up
mining and production, and the operation is well on its way to
achieving its goal of delivering an average of 650 000 ounces per year
over the next 10 years, chief executive Mark Bristow said. The mine
produced 145 152 ounces in Q3, substantially up on Q2's 91 137 ounces.
Production at the group's flagship Loulo-Gounkoto complex was 8% down
at 160 286 ounces but Bristow said it was still on track to exceed its
2014 guidance of 640 000 ounces.
RANDGOLD ENQUIRIES:
Chief Executive Financial Director Investor &    Media Relations
Mark Bristow Graham Shuttleworth Kathy du Plessis
+44 788 071 1386 +44 1534 735 333 +44 20 7557 7738
+44 779 775 2288 +44 779 771 1338 Email:randgold@dpapr.com
Website: www.randgoldresources.com 
------------------------------------------------------------------------
Click on, or paste the following link into your web browser, to view
the associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/2817W_1-2014-11-5.pdf 
This information is provided by RNS
 The company news service from the London Stock Exchange
END

• Commodity Markets
• Company Earnings
• Randgold Resources

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Dealing in securities by a non-executive director of AngloGold Ashanti Limited

Acrobat Version

In terms of paragraphs 3.63 to 3.65 of the JSE Limited Listings Requirement (“Listings Requirements”), AngloGold Ashanti gives notice that a non-executive director of the company has purchased ordinary shares of the company, after receiving clearance to do so as required by paragraph 3.66 of the Listings Requirements.

Details of the purchase are provided below:

Name of director	Michael Kirkwood
Name of company	AngloGold Ashanti Limited
Date of transaction	04 November 2014
Nature of transaction	On-market purchase of shares
Class of security	American Depositary Receipts (ADRs)*
Number of shares	5,000
Volume weighted average price of shares purchased	USD9.3821
Lowest price of shares purchased	USD9.38
Highest price of shares purchased	USD9.415
Total value of shares purchased (excluding brokerage and other fees)	USD46,910.22
Nature of interest	Beneficial Owner

ENDS

JSE SPONSOR: Deutsche Securities (SA) Proprietary Ltd

The most difficult choice any investor could make

Here’s a scary choice. Gold, or gold miners.

Only the most sadistic of traders would want to make the choice, but if you believe the yellow metal is done falling, and you’re made of sterner stuff, the choice could reap dividends.

The world's largest gold-backed fund (trading under the symbol GLD) has taken a 12 percent hit in the last three months and is down for the year as is gold itself.

Meanwhile, though the gold miners ETF (trading under the symbol GDX) rallied 4 percent on Thursday, it traded at a record low of $16.45 per share on Wednesday. The GDX is down 34 percent in the last 90 days.

So if investors had to choose one, which would it be – the GLD or the GDX?

(Read: Gold edges of lows as dollar slips from 4-year peak)

The GLD is safer, though perhaps not as potentially lucrative, compared with the GDX in the short term, according to David Seaburg, head of equity sales trading at Cowen and Company.

"There's a trade in gold here, and I think the trade is for a short-term pop to the upside," Seaburg said. That pop could come because he sees positions in long U.S. dollar/short gold to be "crowded" right now. So, how investors would take advantage of a temporary reversal would depend on their risk appetite.

"The GLD I like as a more conservative approach to it," Seaburg said. "The GDX is a much more leveraged to it. It's really based on your risk perspective."

(Read: Euro plunges to its lowest in more than two years)

However, the long-term prospects for gold remain bleak, if he is correct. "You're going to see the dollar index continue to go higher," Seaburg said. "However, there's really no inflation in sight. People are talking deflation. So the longer-term prospects for gold in my opinion are not good."

View photo

.

But buying into gold may not be the best idea if the chart work of one leading technical analyst is to be believed.

"From a long-term perspective, the primary trend is lower on gold," said Craig Johnson, senior technical analyst at Piper Jaffray and president of the Market Technicians Association.

Johnson likens the current environment to the peak in gold during a breakout in bonds and equities in the early 1980s. "If history is going to rhyme and perhaps even repeat with what we've seen in the past," he said, "gold is not going to work. The best days are behind us for gold."

He said that the GLD recently broke below key support and may be headed down further. "We've been looking for about $100 on that particular ETF and we think that's going to be achieved," he said. "We're a seller of gold because we think a lot more downside is still yet to be had."

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