Gapper of the Day: Foreign Mining Companies
I ran a stock scan to search for stocks gapping down more
than seven percent on above average volume. My scan resulted in all foreign
companies mostly in commodity and mining sectors. Most of these stocks are rated
as avoid by computerized scan run last week.
All these stocks dropped with sharp decline in the commodity
prices. Some of the notable losers of the day are
- Randgold Resources Ltd. (ADR) (NASDAQ: Gold)
last traded at $40.43, gapping down by -7.18%
Randgold Resources is an international gold mining and exploration
business. It has to date discovered the 7 Moz Morila deposit in
southern Mali, the plus 5 Moz Yalea deposit in western Mali and the 3
Moz Tongon deposit in the Cte dIvoire. The Company successfully
developed the Morila deposit into one of the worlds largest and
highest-margin gold mines. In addition, Randgold Resources has a
portfolio of prospective exploration projects across Africa in Mali,
Cte dIvoire, Senegal, Burkina Faso, Ghana and Tanzania.
-
Acergy
S.A. (ADR) (NASDAQ: ACGY) last traded at $15.52, gapping down by -7.36%
Acergy S.A. is a seabed-to-surface engineering and construction
contractor for the offshore oil and gas industry worldwide. They plan,
design and deliver complex, integrated projects in harsh and
challenging environments. The company operates internationally as one
group globally aware and locally sensitive, sharing our expertise and
experience to create innovative solutions. It is more than solution
providers, and are solution partners ready to make long-term
investments in its people, assets, know-how and relationships in
support of the clients.
-
BHP Billiton
Limited (ADR) (NYSE:BHP) last traded at $64.75, gapping down by -7.76%
West
Australian Liberals are threatening BHP Billiton (BHP) and Rio Tinto (RTP) with
penalties if the two agree to a merger. Party leader, Colin Barnett, said the
merged company would be forced to pay higher royalties and make other
concsessions.
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