Canadian Miners Start Week With a Bang

• By the tickerspy.com Staff
• On 11:58 am EDT, Monday October 12, 2009

Canada is rich with natural resources, and investors won big on companies tapping into them.

With oil back above $73 and gold pushing to near all-time highs above $1050, Canada's natural resource stocks are flying to start the week. Miners in particular are having a strong day, led by Platinum Group Metals (AMEX: PLG - News) with an 12% jump.

As a whole, the Canadian Mining Stocks Index is ahead by 1.2% today. It is now beating the S&P 500 by 3.4% over the last month.

Barrick Gold (NYSE: ABX - News), Goldcorp (NYSE: GG - News), and Kinross Gold (NYSE: KGC - News), Canada's largest U.S.-listed miners, have all gained 6% or more in the last week. Meanwhile, fellow gold giant Yamana Gold (NYSE: AUY - News) has rocketed higher by 20% for the period.

CNBC stock-picking guru Jim Cramer offered Toronto-based Agnico Eagle Mines (NYSE: AEM - News) a dose of optimism Friday evening. Cramer called the stock "the cheapest big-cap gold company," and noted that he sees gold going higher.

Over the last month, only five stocks out of the Canadian Mining Stocks Index's 25 components remain in negative territory. Of them, only Seabridge Gold (NSYE: SA), Crystallex International (AMEX: KRY - News) and Tanzanian Royalty Exploration (AMEX: TRE - News) are down by more than -5%.

As of this writing, the Canadian Mining Stocks Index is up 6.4% over the last month. The performance is not enough to rank it among tickerspy's top-50 Indexes for the period, but if the underlying commodity markets extend their rallies, more gains could be in store.

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