Gold Mining Stocks Led The Increase In Shares In The Stock Market, Past This Week
October 12th, 2009 | File Under : Companies - Gold - Mining Stock
Stock market developments during the week focus on increasing sales of gold mining company stock. Stock of mining companies increased to reach record highs, but the dollar weakened. Gold miners in South Africa reported an increase in reserves of mineral resources which ends June 30. Increase supply of mineral resources rose to 271.1 million ounces versus 250.6 million ounces from the previous year.
On Wednesday, analysts from Nomura downgraded Gold Fields to neutral from buy, along with third-place vote getter AngloGold Ashanti, which finished with 14.7% of the vote.
Harmony Gold Mining , which garnered 15.3% of the vote to finish in second place, was raised to buy from neutral by Nomura.
Larger, more diversified operations BHP Billiton and Rio Tinto attracted the fewest votes, totaling 10.4% and 14.1% each.
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