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Goldman Sachs Upgrades Alcoa On Higher Commodity Prices
Wednesday, March 3, 2021 - 1:07pm | 300Alcoa Corp (NYSE: AA) is poised to benefit from its meaningful leverage to higher commodity prices, according to Goldman Sachs. The Alcoa Analyst: Emily Chieng upgraded the rating for Alcoa from Sell to Buy, while raising the price target from $19 to $32. The Alcoa Thesis: The Sell rating was based...
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New US Sanctions Aim To Dent Iran's Metal Producers
Friday, January 10, 2020 - 3:28pm | 760The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) will impose new economic sanctions against 17 Iranian metal producers and mining companies in the aftermath of a recent missile attack against American military forces in Iraq. The sanctions also target a network of three China...
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Goldman Sachs Initiates On A Slew Of Metal and Mining Stocks
Tuesday, March 20, 2018 - 1:46pm | 484Goldman Sachs initiated bullish coverage on the metals and mining space, but the firm said investors still need to be selective about which stocks to buy. The Analyst Goldman analyst Matthew Korn set the following ratings and price targets for metals and mining stocks: Initiated Freeport-...
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Silver ETFs Slide As Dollar Bounces
Wednesday, August 16, 2017 - 8:30am | 524Though it is still in the doldrums relative to other currency exchange-traded funds, the PowerShares DB US Dollar Index Bullish Fund (NYSE: UUP) has perked up in recent sessions. The dollar's awakening, albeit modest, is pressuring commodities and the related ETFs, including silver funds. The...
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Copper Surge Lifts A Familiar ETF
Monday, July 31, 2017 - 8:40am | 529Commodities markets are aflutter over the recent strength in copper. With the red industrial metal residing at its highest levels in two years and breaking out on the charts, the widely followed iPath Bloomberg Copper Subindex Total Return Sub-Index ETN (NYSE: JJC) is up nearly 7 percent over the...
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Miners Sell Off After Bonanza Creek Downgrade, Vale Partnership
Tuesday, March 8, 2016 - 11:42am | 406Bonanza Creek Energy Inc (NYSE: BCEI) is down 15 percent in early trading Tuesday, on the back of recent downgrades and news within the space. Northland Securities downgraded Bonanza last month from Outperform to Market Perform, and on Tuesday, Credit Suisse circulated a research note regarding...
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2 Metal ETFs That Cannot Be Ignored
Friday, February 14, 2014 - 4:55pm | 568The price of gold was back above $1,300 an ounce on Friday, and at the highest level in three months, as money flies into the beaten-down precious metal. Over the last seven weeks the SPDR Gold ETF (NYSE: GLD) is up 11 percent, and is also trading at a new three-month high. While that may sound...
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Metals Commentary
Friday, October 7, 2011 - 7:32am | 600December gold futures closed up $9.90 an ounce at $1,651.50 yesterday. Prices closed near the session high yesterday. The key "outside markets" were bullish for gold again yesterday, as the U.S. dollar index was lower and crude oil prices were solidly higher. Trading has been choppy in the gold...
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Metals Commentary from Jim Wyckoff
Friday, September 30, 2011 - 7:56am | 458METALS: December gold futures closed down $1.40 an ounce at $1,617.00 today. Prices closed near mid-range today. The market consolidated recent more volatile price action today. The market was supported by higher crude oil prices, but gains in gold were limited by higher U.S. stock indexes. Bears...
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MF Global: Most Metals Higher, Copper Bounces Back
Friday, March 11, 2011 - 1:57pm | 215MF Global is out with a research report this morning detailing on market metals. In the report, MF Global states that copper has bounced from a two-week low, although remaining weaknesses can be seen in nickel, tin, and lead. Updating its readers on the morning markets, MF Global writes, "Right...