Month: August 2020

VANCOUVER, BC, Aug. 5, 2020 /CNW/ – Pan American Silver Corp. …read more […]

(in U. dollars unless otherwise noted)Assets returning to normal operationsTORONTO, Aug. …read more […]

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(Bloomberg) — MetLife Inc.’s profit slid to $68 million in the second quarter, down 96% from a year earlier, on sluggish investment income.The biggest U.S. life insurer’s adjusted earnings dropped to 83 cents a share, falling short of the 91-cent average estimate of 11 analysts.Key InsightsNet investment income fell 13% to $4.09 billion.Profit fell by 29% in both the U.S. and Asian businesses, driven by declines in variable investment income. The company also reported $710 million in net derivative losses because of stronger equity markets and higher longer-term interest rates.“The decline in our private equity portfolio was squarely within our …read more […]

(Bloomberg) — The Dakota Access oil pipeline again staved off what would have been an unprecedented shutdown, with a court ruling that the Trump administration has to decide whether the conduit can operate while a more robust review is done.Judges said Wednesday that they expect the U.S. Army Corps of Engineers to clarify in front of a federal district court whether the agency thinks the pipeline must shut after a key permit was vacated in July. The decision from the U.S. Court of Appeals for the District of Columbia Circuit buys pipeline operator Energy Transfer LP some time after the …read more […]

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ATLANTA and WESTFORD, Mass., Aug. …read more […]

(Bloomberg) — Exxon Mobil Corp. warned that low energy prices may wipe as much as one-fifth of its oil and natural gas reserves off the books.If depressed prices persist for the rest of the year, “certain quantities of crude oil, bitumen and natural gas will not qualify as proved reserves at year-end 2020,” the company said in a regulatory filing on Wednesday. A 20% hit would impact the equivalent of almost 4.5 billion barrels of crude, or enough to supply every refinery on the U.S. Gulf Coast for 18 months.The company’s massive Kearl oil-sands mine in Alberta was the only …read more […]

The “dog days” of summer are here, but it’s just as busy as ever on the Street. As earnings results continue to roll in, investors will be watching for any update on the next economic stimulus package along with the non-farm payroll report slated for release this Friday. Against this backdrop, plenty of questions remain, weighing on the minds of both institutional and private investors.In a recent note to clients, Oppenheimer’s Chief Investment Strategist John Stoltzfus addresses these concerns. When it comes to stocks’ disconnected state, he writes that the market tends to focus on the future, with it betting …read more […]

Warren Buffett doesn’t like gold… At least as an investment. “It doesn’t do anything but sit there and look at you,” the Oracle of Omaha has said. And while he’s been proven right that equity markets outperform gold long-term, those who have picked the right gold stocks to buy have seen outsized returns this year.
While the tech sector has been grabbing the lion’s share of the headlines, gold has outperformed every major asset class.

That may not be surprising considering the price of gold is floating around an all-time high. But the fact that many gold stocks have been outpacing the …read more […]

A Biden win in the 2020 election and the impending push for clean energy would boost silver prices, according to Bank of America. …read more […]

(Bloomberg) — A bail hearing by Zoom for the 17-year-old accused of hacking some of the world’s highest-profile Twitter accounts last month offered some surprises when a lawyer revealed that the teenager was already under investigation last year — and then the session was interrupted by participants showing porn.Graham Ivan Clark’s lawyers were in the middle of asking a Florida judge to lower their client’s bail — saying the $725,000 he’s required to post to get out of jail is disproportionate to the $117,000 he’s alleged to have reaped from the hack — when the raunchy images were broadcast into …read more […]

(Bloomberg) — A group of lenders steering J.C. Penney Co.’s bankruptcy process is asking potential buyers of the retail chain to increase their bids after a round of offers in July were seen as too low, according to people familiar with the matter.The lenders are pushing for offers closer to the approximately $2.2 billion of J.C. Penney’s debt they hold, the people said, asking not to be named because the deals are private. Earlier proposals from mall owners and retail firms added up to payments of about $1.8 billion. If those don’t improve, the lenders could acquire the company through …read more […]

As Apple inches closer to a $2 trillion market-cap valuation, BofA analysts just downgraded the stock to Neutral noting “risks should not be ignored.” …read more […]

Kramer Capital Research Chief Investment Officer Hilary Kramer joins Yahoo Finance’s Zack Guzman to weigh in on how the coronavirus is impacting the cannabis industry. …read more […]