Precious Metals Prices Continue to Rise on Weakening Dollar – Latest Updates on FCX, IAG, KGC and SLW

New York, New York – April 20th, 2016 – Precious metal prices were boosted Tuesday after the U.S. dollar fell on weaker-than-expected housing data. The Commerce Department reported housing starts in the U.S. declined 8.8 percent sequentially to a seasonally adjusted annual rate of 1.089 million in March, which was its lowest since October 2015. Data from FactSet shows gold for June delivery jumped 1.5 percent to $1,255.40 a troy ounce on the Comex, while Silver for May delivery spiked 4.4 percent to $16.97 an ounce.

“The significantly weaker dollar has helped to underpin several buck-denominated precious metals and commodities of late, including gold, silver and crude oil.” said Fawad Razaqzada, technical analyst at Forex.com.

Here is how some Mining stocks reacted Tuesday:

Freeport-McMoRan Inc. (NYSE: FCX) shares spiked 9.03 percent to close at $12.02 a share Tuesday. The stock traded between $11.06 and $12.02 on volume of 63.07 million shares traded. Freeport-McMoRan currently has a one-year price target of 8.63, according to consensus estimates collected by Bloomberg. Shares of Freeport-McMoRan have gained approximately 78.0 percent year-to-date and are up roughly 12.0 percent in the past month.

Find out more about Freeport-McMoRan including full access to the equity report at: 
www.StockTheory.com/FCX

IAMGOLD Corp. (NYSE: IAG)(TSE: IMG) shares jumped 9.12 percent to close at $3.11 a share Tuesday. The stock traded between $2.94 and $3.15 on volume of 7.26 million shares traded. IAMGOLD is scheduled to release earnings for the first quarter of 2016 after market close on Tuesday, May 3rd. Shares of IAMGOLD have gained approximately 120.0 percent year-to-date and are up roughly 45.0 percent in the past month.

Find out more about IAMGOLD including full access to the equity report at:        
www.StockTheory.com/IAG

Kinross Gold Corporation (NYSE: KGC)(TSE: K) shares gained 6.02 percent to close at $4.58 a share Tuesday. The stock traded between $4.42 and $4.61 on volume of 13.37 million shares traded. Kinross Gold is scheduled to release earnings for the first quarter of 2016 after market close on Tuesday, May 10th. Analysts at RBC Capital Markets have recently upgraded the company’s rating to “outperform” from “sector perform”. Shares of Kinross Gold have gained approximately 152.0 percent year-to-date and are up roughly 46.0 percent in the past month.

Find out more about Kinross Gold including full access to the equity report at:  
www.StockTheory.com/KGC

Silver Wheaton Corp. (NYSE: SLW)(TSE: SLW) shares surged 9.16 percent to close at $18.48 a share Tuesday. The stock traded between $17.77 and $18.60 on volume of 12.28 million shares traded. Silver Wheaton is scheduled to release earnings for the first quarter of 2016 before market open on Monday, May 9th. The consensus price target on the stock is $21.16. Shares of Silver Wheaton have gained approximately 49.0 percent year-to-date and are up roughly 4.0 percent in the past month.

Find out more about Silver Wheaton including full access to the equity report at: 
www.StockTheory.com/SLW

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