NEW YORK, June 9, 2016 /PRNewswire/ --
http://www.FinancialBuzz.com : A weak jobs report last week
gives good news and high hopes for safe haven investors even with
the likelihood of a rate hike next month from the Federal Reserve.
The US employment rate slowed down in May and shows that only
38,000 jobs were added last month. This was substantially the
smallest gain since September 2010,
and might be a sign of an economic slowdown. The US economy has
barely grown in the first quarter of 2016. Yet, these reports do
not indicate that the U.S is in trouble economically since
occasional slowdown is expected, and economic growth is rarely a
strictly upward curve. Direxion Shares Exchange Traded Fund
Trust (NYSEARCA: NUGT), Brazil Resources Inc.
(BRI.V), Torex Gold Resources Inc. (TXG.TO),
Agnico Eagle Mines Ltd. (AEM.TO), Yamana Gold Inc.
(YRI.TO).
The unemployment rate decreased to 4.7% in May, the lowest since
November 2007, according to the
Bureau of Labor Statistics report. This report puts in question on
the rate hike the Federal Reserve has been planning to
announce.
After the release of the jobs report, shares of the Direxion
Shares Exchange Traded Fund
Trust (NUGT) climbed over 40%. Some
Junior Gold Miners, such as
Brazil Resources Inc. (TSX-V: BRI), has continued to
trend higher up a whopping 400% on a year-to-date basis. The
largest shareholders include, Rick
Rule, a legendary resource investor and CEO of Sprott Inc.,
along with Doug Casey of Casey
Research and Marin Katusa, who holds
a very successful portfolio in natural resources in recent
years.
A bullish movement in the gold sector, has help many beaten down
gold companies like Brazil Resources rebound this year. Now many
analyst and financial services firms like Cantor Fitzgerald, are
coming out with bullish stances on the overall gold sector or as a
hedge to global equities. Cantor Fitzgerald currently has a "Buy"
rating Brazil Resources Inc.
Brazil Resources Inc. puts their attention on development and
acquisition of projects producing gold districts and other mineral
properties in Brazil, the United States, Canada, and Paraguay. Shares continue to be one of
Canada's top active companies in
the gold sector, just this week shares continue to surge higher
another 20%.
Torex Gold Resources Inc. (TSX: TXG), shares this
week hit a new 52-week high of $2.32
or up 172% from their 52-week low of $.85. Torex Gold mainly focuses on exploration of
and development in minerals generally in gold deposits. It holds
100% of the Morelos Gold Property which is roughly 29,000 hectares
positioned in Guerrero State, Mexico. Within the area, it consists of the El
Limón-Guajes Mine, which began their gold production December of
last year, and the Media Luna Project, an advanced stage of
exploration, with a remaining 75% uncharted. Since the beginning of
this year, the stock has risen 70.63%.
Agnico Eagle Mines Ltd. (TSX: AEM), just yesterday
reached a new 52-week high of $65.96.
Agnico Eagle is a senior Canadian gold mining company that has
produced precious metals since 1957. Its eight mines are located in
Canada, Finland and Mexico, with exploration and development
activities in each of these countries as well as in the United States and Sweden. The Company and its shareholders have
full exposure to gold prices due to its long-standing policy of no
forward gold sales. Agnico Eagle has declared a cash dividend every
year since 1983
Yamana Gold Inc. (TSX: YRI), also just yesterday hot a
52-week high of $6.77 or a huge
contrast from its 52-week low of $1.89. Yamana is a Canadian-based gold producer
with significant gold production, gold development stage
properties, exploration properties, and land positions throughout
the Americas including Brazil,
Argentina, Chile, Mexico
and Canada. Yamana plans to
continue to build on this base through existing operating mine
expansions, throughput increases, development of new mines, the
advancement of its exploration properties and, at times, by
targeting other gold consolidation opportunities with a primary
focus in the Americas.
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