McEwen Mining Inc (NYSE:MUX) announced an updated mineral reserve and resource estimate for the San José mine (49% owned by McEwen Mining), located in Santa Cruz province, Argentina. The updated estimate continues to demonstrate that San José is one of the highest-grade precious metal mines in the Americas that continues to replace its mined ounces even with record production. The mineral reserve and resource estimates were calculated using US$1,200 per ounce gold and US$20 per ounce silver. The estimates were independently audited by P&E Mining Consultants Inc. McEwen Mining Inc (NYSE:MUX) shares after opening at $3.55 on last trade day and at the end of the day closed at $3.56. Company price to sales ratio in past twelve months was calculated as 22.22 and price to cash ratio as 34.01. McEwen Mining Inc (NYSE:MUX) showed a positive weekly performance of 18.27%.
Zacks downgraded shares of NovaGold Resources (NYSE:NG) to a neutral rating in a report issued on Thursday, AnalystRatingsNetwork reports. They currently have $3.40 target price on the stock. NovaGold Resources Inc. (USA) (NYSEMKT:NG) weekly performance is 13.40%. On last trading day company shares ended up $4.57. NovaGold Resources Inc. (USA) (NYSEMKT:NG) distance from 50-day simple moving average (SMA50) is 40.21%. Analysts mean target price for the company is $2.75.
Globalstar, Inc. (OTCMKTS:GSAT) announced its financial results for the three-month and twelve-month periods ended December 31, 2013. Revenue was $21.0 million for the fourth quarter of 2013 compared to $19.1 million for the fourth quarter of 2012, an increase of 10%, which was due to increases in both service revenue and subscriber equipment revenue. Net loss increased during the fourth quarter of 2013 reflecting the impact of substantial non-cash charges resulting from an increase in the value of the Company’s derivative instruments, which was driven primarily from a 61% increase in the Company’s stock price during the fourth quarter of 2013. Globalstar, Inc. (OTCMKTS:GSAT) shares advanced 1.93% in last trading session and ended the day on $2.64. GSAT return on equity ratio is recorded as -24.53% and its return on assets is -9.03%. Globalstar, Inc. (OTCMKTS:GSAT) yearly performance is 676.47%.
Silver Standard Resources (NASDAQ:SSRI) was downgraded by stock analysts at Scotiabank from a “sector perform” rating to an “underperform” rating in a report issued on Tuesday, TheFlyOnTheWall.com reports. Silver Standard Resources Inc. (USA) (NASDAQ:SSRI) shares moved up 2.03% in last trading session and was closed at $11.57, while trading in range of $11.29 – $11.69. Silver Standard Resources Inc. (USA) (NASDAQ:SSRI) year to date (YTD) performance is 66.24%.