Orlando, FL -- (SBWIRE) -- 09/25/2013 -- 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 AK Steel Holding Corporation(NYSE:AKS), Pan American Silver Corp. (USA) (NASDAQ:PAAS).
AK Steel Holding Corporation(NYSE:AKS) shares declined 0.50% to $4. The company on Sept. 19 provided guidance for its third quarter of 2013 financial results. AK Steel said it expects to incur a net loss of $0.22 to $0.27 per diluted share of common stock, which includes a loss of approximately $0.09 per diluted share related to the previously disclosed unplanned Middletown Works blast furnace outage. The principal assumptions and other factors driving this estimate are set forth below.
Additionally, the company said that it plans to release its third quarter 2013 financial results before the opening of trading on the New York Stock Exchange on Tuesday, October 22, 2013.
Moreover, AKS‘s stock had its “hold” rating reaffirmed by Zacks in a research note issued to investors on Sept. 13. They currently have a $3.75 price objective on the stock. Zacks‘ price objective would indicate a potential downside of 4.82% from the stock’s previous close.
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Pan American Silver Corp. (USA) (NASDAQ:PAAS) shares declined 0.73% to $10.81. The company on Sept. 10 has decided to close out its outstanding silver and gold hedges.
The Company previously announced that it had entered into forward contracts for 5.3 million ounces of silver and 24,000 ounces of gold, at average prices of $20.43 per ounce of silver and $1,323 per ounce of gold, spread relatively equally over a period of 12 months. The amount of silver and gold under contract represented approximately 20% and 18% of the Company's forecasted 12-month silver and gold production, respectively.
Additionally, the company pon August 15 said it produced 6.2 million ounces of silver and 29,900 ounces of gold during the quarter ended June 30, 2013 , generating revenue of $175.6 million and operating cash flows before interest and income taxes of $23.7 million . Given the sharp decline in precious metals during the reporting quarter, the Company incurred a net loss of ( $187.1 ) million or ( $1.23 ) per share, which included a $185.2 million non-cash impairment charge mainly against the goodwill that arose from the purchase of the Dolores mine last year.
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