Nation/World

Eagle, Gold Reserve Top Index; Egghead Takes Fall

Stocks of companies based in the Inland Northwest figured highly and lowly in the Dain Bosworth Pacific Northwest 100 stock index in the quarter that ended Monday.

Gold Reserve, which closed at $13.13, polished off the three-month period with a 72 percent increase. The mining company has reported ever higher estimated reserves at its Venezuela concessions.

Its stock price has more than doubled since Dec. 31, when it closed at $5.63. That year-to-date performance was fourth best among index stocks.

Eagle Hardware & Garden Inc. led all companies for the quarter and the year so far.

Stock in the retailer, which opened its first store in Spokane in 1990, soared 77 percent in the quarter, 260 percent so far this year.

Price at closing Monday was $27, compared with $16.50 June 30 and $7.50 Dec. 31.

At the other end of the spectrum, Egghead Inc. took a great fall. The software retailer’s stock plunged 46 percent for the quarter, the worst performance turned in by any company included in the index.

The closing price Monday was $6, compared with $11.13 June 30. Egghead opened the year at $6.44.

The biggest loser for the year has been Ride Inc., the snowboard maker, which has made a 62 percent descent to $12.25.

Other Spokane-area stocks included in the index are Hecla Mining, down 3.6 percent for the quarter at $6.75; Coeur d’Alene Mines, off 22 percent at $14.38; Washington Water Power Co., up 1 percent at $18.88; and Itron, down 8 percent at $26.25.

Overall, the Dain Bosworth group has had a tough year.

The index, with a 1.4 percent gain for the quarter and 12.6 percent increase for the first nine months of 1996, has lagged the Dow Jones industrials, Nasdaq, and S&P; 500.

Analyst Robert Dickey attributed the substandard performance to the index’s weighting in small company stocks, which have been overlooked by investors focused on major corporations and high-tech stocks.

, DataTimes



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