Source: Thinkstock
Barrick Gold Corp. (NYSE: ABX) dropped about 4.4% Friday to a new 52-week low of $14.06. Share volume is about 30% higher than the daily average of around 9.3 million. The stock’s 52-week high is $21.45. We could have selected any gold miner to put in our report today because all suffered from the price of gold dropping to below $1,200 an ounce to its lowest settlement price in more than 4 years..
Cliffs Natural Resources (NYSE: CLF) dropped nearly 18% today to post a 52-week low of $8.22. The stock’s 52-week high is $28.98. The iron ore miner took a beating in a report from Wells Fargo on Thursday and the stock is still staggering. Share volume for today is more than 4-times the average daily of around 7.2 million shares.
Silver Wheaton Corp. (NYSE: SLW) sank to a new 52-week low on Friday of $19.18. Based on Thursday night’s closing price of $20.03 that’s a drop of about 4.2%. The stock’s 52-week high is $27.66. Trading volume is about 25% higher than the daily average of around 3.9 million shares. It didn’t matter today if the metals that are being dug out of the ground were precious or base — their value is falling and even a non-mining company like Silver Wheaton can’t escape.
UBS AG (NYSE: UBS) posted a drop of about 2.8% today to a new 52-week low of $16.71 against a 52-week high of $21.61. Volume is about 15% above the daily average of around 2 million shares. The bank faces a fine of $6.2 billion in a tax-evasion case in France.
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