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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies -- Ignore unavailable to you. Want to Upgrade?

To: Wes Stevens who wrote (99681)	9/24/1999 3:47:00 PM
From: Probart	Respond to of 119973

Salomon ups industry rating on precious metals NEW YORK, Sept 24 (Reuters) - Salomon Smith Barney on Friday said it was raising its rating on the precious metals sector to outperform from market perform. The company also said it was raising its ratings on Canadian mining companies Placer Dome Inc. (Toronto:PDG.TO - news) (NYSE:PDG - news) and Kinross Gold Corp. to buy from outperform. ''Gold has been an uncharacteristic laggard among the commodities this year, but we are encouraged by high lease rates -- which reduce the likelihood of significant producer hedging and short selling before year-end,'' Salomom said in a press release. In addition to Placer and Kinross, the firm listed its buy recommendations as Freeport-McMoRan Copper and Gold Inc.(NYSE:FCX - news), Newmont Mining Corp. (NYSE:NEM - news), Agnico-Eagle Mines(Toronto:AGE.TO - news), Stillwater Mining Co. (AMEX:SWC - news) and Apex Silver Mines Ltd. (AMEX:SIL - news) ''Sentiment appears to be shifting abruptly in the wake of Tuesday's second UK auction,'' the firm said. ''With gold having climbed by $12 per ounce in the three days following the auction, we are more confident than at any time in the last year that this rally has staying power--at least through year end.'' Placer Dome rose 1/2 to 11-15/16 on the New York Stock Exchange. Kinross was at C$3.75, up 25 Canadian cents on the Toronto Stock Exchange. Spot gold bullion was quoted midafternoon at $269.10/60 an ounce, up from Thursday's close at $265.70/6.20 and around $255 just before Britain's sale.