NEW YORK, NY--(Marketwire -04/02/12)- Palladium future looks bright as analysts predict this precious metal will turn from worst to best by December. The metal will average $850 an ounce in the final three months of 2012, 32 percent more than now, according to the median estimate of 11 analysts surveyed by Bloomberg. They expect a gain of 15 percent for gold, 13 percent for silver and 11 percent for platinum. Five Star Equities examines the outlook for companies in the Precious Metals Industry and provides equity research on Stillwater Mining Company (NYSE: SWC - News) Anglo American (Pinksheets: AAUKY.PK - News).
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"I like palladium the best among precious metals, it's relatively cheap compared to the others," said Bart Melek, the head of commodity strategy at TD Securities Inc. in Toronto and the most accurate price forecaster tracked by Bloomberg Rankings in the eight quarters through the end of 2011. "Autocatalyst demand for palladium should grow. Russian government stocks will limit supply growth."
Supply from mines and stockpiles will drop 6.9 percent to 6.91 million ounces this year, Barclays estimates. An 11 percent expansion in scrap metal to 2.43 million ounces still won't be enough to meet demand, leaving a 215,000-ounce shortage, the bank predicts.
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Stillwater Mining Company announced that it has entered into an agreement with Mitsubishi Corporation in which the Japanese global integrated business enterprise will acquire a 25% interest in Stillwater's Marathon PGM and copper project for approximately US$81.25 million and meet the ventures first cash call of $13.6 million for a total cash payment by Mitsubishi of $94.6 million.
Anglo American has issued $600 million in senior notes due in 2017 with an annual coupon interest rate of 2.625%, the company said Tuesday. The interest will be paid semi-annually on April 3 and Oct. 3 of each year, starting Oct. 3, 2012 and will mature on April 3, 2017.
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