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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.59

-2.8%

Nov 13 4:00 PM EST

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To: Zardoz who wrote (40386)	9/18/1999 1:29:00 PM
From: goldsnow	Read Replies (1) of 116762

So far this year, the Standard & Poor's metals and mining index has risen 54 percent, outpacing the 7 percent rise in the broader S&P index of 500 leading stocks. That performance for mining stocks is far better than the 31 percent decline in the index since September 1994. ``The squandering of capital in this industry from years past might be at an end,' said Ernest Nutter, a director of RBC Dominion Securities, a specialist commodities brokerage. ``These companies are not depending on metals prices to get a big increase in earnings.'..... ...Profit at mining companies could be surprisingly strong in the months ahead because of lower costs and higher output, said Daniel Chornous, chief investment officer for RBC Dominion. ``In the last two months, for the first time since the mid- 1990s, (analysts) have had to drag their earnings estimates up,' Chornous said. ``One doesn't have to be a great bull on commodity prices to see a good thing ahead.' quote.bloomberg.com

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