In economic news, sales of previously owned homes in the U.S. fell in October, in line with expectations. Despite the decline last month, existing home sales are still higher compared with the same period a year ago.
Meanwhile, a reading of manufacturing sentiment fell in November to its lowest level in 25 months, according to data released Monday.
A few hours before the opening bell, crude oil futures CLF6, +0.43% rose nearly 2% following a report that Saudi Arabia was willing to cooperate with fellow producers to stabilize prices. But oil gains soon faded and prices turned lower on indications the statement was in line with previous remarks by Saudi officials. Index futures soon gave up gains.
Meanwhile, metals prices still struggled ahead of the open, with copper HGZ5, -1.80% slumping 1.5% and gold futures GCZ5, -0.75% off 0.5%.
United States Steel Corporation (NYSE:X) was trading lower by -3.10% to $8.42. So far, around 2.66 million shares have changed hands in this session. After opening at $8.68, the stock hit as high as $8.75. However, it traded between $8.42 and $36.40 over the last twelve months. United States Steel Corporation (NYSE:X) announced that its Board of Directors declared a dividend of five cents per share on U. S. Steel Common Stock. The dividend is payable December 10, 2015, to stockholders of record at the close of business November 13, 2015.
United States Steel Corporation, headquartered in Pittsburgh, Pa., is a leading integrated steel producer and Fortune 200 company with major operations in the United States and Central Europe. For more information about U. S. Steel, please visit www.ussteel.com.
Barrick Gold Corporation (USA) (NYSE:ABX) was at $7.13, showing a -0.97% decrease. Around 2.74 million shares have been traded, versus an-average trading volume of 18.06 million shares. The company is now valued at around $8.50 billion. Barrick Gold Corporation (USA) (NYSE:ABX) and Waterton Global Resource Management (“Waterton”) jointly announce that they have reached an agreement in principle through Midway’s subsidiary, Midway Gold US Inc., to sell its 30% interest in the Spring Valley joint venture to a subsidiary of Waterton Precious Metals Fund II Cayman, LP. Waterton Precious Metals Fund II Cayman, LP has also announced that it will be acquiring the remaining 70 percent interest in the Spring Valley project from Barrick Gold Corporation’s (ABX)(ABX.TO) (“Barrick”) in a separate transaction.
Newmont Mining Corp (NYSE:NEM) shares decline today, losing -1.87 per cent to $17.36. Around 1.38 million shares changed hands so far in this session compared to an-average trading volume of 7.76 million shares. Newmont Mining Corp (NYSE:NEM) has completed the sale of Newmont Waihi Gold Limited in New Zealand to OceanaGold Corporation (TSX/ASX/NZX: OGC) (“OceanaGold”), receiving cash proceeds of US$101 million. The sale agreement also includes a US$5 million contingent payment and a one percent Net Smelter Royalty on a recent discovery north of Waihi’s current operations.
“The sale of Waihi further strengthens Newmont’s balance sheet and improves the Company’s financial flexibility as we continue to sell select assets for cash at fair value,” said Randy Engel, Executive Vice President for Strategic Development.