A Prudential analyst on Monday provided rosier reserve estimates for a handful of gold companies following an industry gold show last week. Meanwhile, gold prices settled over $600, while shares of gold producers rose.

In a client note, Analyst John C. Tumazos lifted his estimates for year-end reserves before recovery losses for AngloGold Ashanti Ltd., Barrick Gold Corp. and Newmont Mining Corp.

Tumazos boosted his year-end reserves forecast to 71.7 million ounces from 63.3 million in 2005 for AngloGold. For Barrick, the analyst said he expects 144 million ounces versus 139.5 million last year and for Newmont, he projected reserves of 98.2 million ounces versus 93.2 million.

He estimates gold prices will average $600 in 2006 and retreat to about $450 in 2007.

Shares of AngloGold rose 71 cents to $38.45 in afternoon trading on the New York Stock Exchange. Barrick Gold shares added 21 cents to $30.93, while Newmont shares climbed 48 cents to $43.22.

The December gold contract dipped 90 cents to settle at $603.30 a troy ounce on the New York Mercantile Exchange.