Orlando, FL -- (SBWIRE) -- 08/29/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On NovaGold Resources Inc. (USA) (NYSEMKT:NG), Harmony Gold Mining Co. (ADR) (NYSE:HMY).
NovaGold Resources Inc. (USA) (NYSEMKT:NG) shares dropped 6.07% and closed at $2.94 in the last trading session. The company on July 10 announced results for its second quarter ended May 31, 2013 and updated the status of the permitting process for its flagship Donlin Gold project in Alaska. For the three and six months ended May 31, 2013, the Company reported a net loss of $10.3 million ($0.03 basic and diluted loss per share) and $24.1 million ($0.08 basic and diluted loss per share), compared to net income of $94.2 million ($0.34 basic and $0.26 diluted income per share) and $111.0 million ($0.42 basic and $0.26 diluted income per share), for the prior year periods.
Are investors worried about the recent updates with NG? Find out with a free trend analysis HERE
Harmony Gold Mining Co. (ADR) (NYSE:HMY) shares decreased 4.92% to $3.67. On Aug 22, ZACKS downgraded their recommendation on gold miner Harmony Gold (HMY) to Underperform. According to them HMY is working on high operating costs, volatility in gold prices and labor issues.
Additionally, the company on August 13 said that it swung to a net loss during its last fiscal year due to an impairment on the lower gold price and labor disruptions. The company company reported a net loss for the 12 months ended June 30 of 2.4 billion rand ($240 million) from a net profit of ZAR2.6 billion a year earlier. Gold output for the year totaled 1.14 million troy ounces, down 2% from 1.27 million troy ounces produced the year before.
Is HMY going to continue its rally or drop like a rock? Find out with a free trend analysis HERE
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