Barrick Gold) dropped about 3.6% on Wednesday to post a new 52-week low at $7.03 after closing at $7.50 on Tuesday. The stock’s 52-week high is $19.36. Share volume totaled more than 26 million, more than double the daily average of around 12 million shares traded. The price of gold continues drop and the miners are going along for the ride.
EMC Corp. (NYSE: EMC) dropped about 0.7% on Wednesday to post a new 52-week low of $24.75 against a 52-week high of $30.92. The stock closed at $24.93 on Tuesday night. Volume totaled more than 31 million shares, more than double the daily average of 13.4 million. The company reported so-so earnings this morning, but shares picked up later in the day.
Freeport-McMoRan Inc. (NYSE: FCX) dropped about 5.5% on Wednesday to post a new 52-week low of $14.86 after closing at $15.72 on Tuesday. The stock’s 52-week high is $39.05. Share volume totaled over 26 million shares, about 50% above the daily average of around 17 million. The company’s name says it all: if gold is doing poorly, copper is doing worse.
Yamana Gold Inc. (NYSE: AUY) posted a new 52-week low on Wednesday. Shares dropped about 3.7% to a low of $2.07 from Tuesday’s closing price of $2.150. The stock’s 52-week high is $9.04. Volume totaled around 21 million shares, nearly 3-times the stock’s daily average of around 8 million. Another hard-hit gold miner.
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