Barron’s Says: Dump Mining Companies

Barron’s is reporting this afternoon that mining companies are performing very poorly in today’s market.  It notes that three miners in particular, are doing especially poorly: Cliffs Natural Resources (NYSE:CLF), Stillwater Mining Company (NYSE:SWC), and Freeport-McMoRan Copper & Gold (NYSE:FCX).  Additionally, gold has also declined for the fifth time in the last six trading sessions.

Popular: Are Gold and Silver Bugs Running Scared?>>

Following is some information on how mining companies are performing today:

  • Cliffs Natural Resources (NYSE:CLF): The shares recently traded at $56, down $4.66, or 7.85%, on the day.  The shares have traded in a 52-week range of $53.86 to $102.48 and its market capitalization is $8.18 billion.  About the company: Cliffs Natural Resources, Inc. is a diversified mining and natural resources company.  The Company mines for iron ore and coal in locations across North America, South America, and Australia.
  • Stillwater Mining Compnay (NYSE:SWC): The shares recently traded at $8.77, down $0.87, or 9.02%, on the day.  The shares have traded in a 52-week range of $8.35 to $25.90 and its market capitalization is $904.03 million.  About the company: Stillwater Mining Company explores for, develops, extracts, processes, and refines platinum, palladium, and associated metals from the J-M Reef located in Stillwater and the East Boulder Mine near McLeod, Montana.  The Company also recycles automotive catalytic converters in its processing facility in Columbus, MT.
  • Freeport-McMoRan Copper & Gold (NYSE:FCX): The shares recently traded at $32.65, down $2.19, or 6.29%, on the day.  The shares have traded in a 52-week range of $30.97 to $61.35 and its market capitalization is $30.95 billion.  About the company: Freeport-McMoRan Copper & Gold, Inc., through its subsidiary, is a copper, gold and molybdenum mining company.  The Company primarily mines for copper and owns mining interests in Chile and Indonesia.  Freeport-McMoRan Copper & Gold also, through a subsidiary, is involved in smelting and refining of copper concentrates.
  • SPDR Gold Trust ETF (NYSE:GLD): The shares recently traded at $156.04, down $4.59, or 2.83%, on the day.  The shares have traded in a 52-week range of $126.11 to $185.85 and its market capitalization is $66 billion.  About the company: SPDR Gold Trust is an investment fund incorporated in the USA.  The investment objective of the Trust is for the Shares to reflect the performance of the price of gold bullion, less the Trust’s expenses.  The Trust holds gold and is expected from time to time to issue Baskets in exchange for deposits of gold and to distribute gold in connection with redemptions of Baskets.
  • iShares Silver Trust ETF (NYSE:SLV): The shares recently traded at $28.84, down $2.33, or 7.48%, on the day.  The shares have traded in a 52-week range of $20.73 to $48.35 and its market capitalization is $9.07 billion.  About the company: iShares Silver Trust is a trust formed to invest in silver.  The assets of the trust consist primarily of silver held by the custodian on behalf of the trust.  The objective of the trust is for the shares to reflect the price of silver owned by the trust, less the trust’s expenses and liabilities.

(Note: Selected financial data are sourced from Google Finance.  All data are assumed to be accurate.)

Advantage: Check out our interactive stock charts, fundamentals, Twitter stream, and more >>

Improve Your 2011 Financial Health: Join the winning team of stock pickers with Wall St. Cheat Sheet’s acclaimed premium newsletter>>

More from The Cheat Sheet