The 52-Week Low Club for Thursday (1/7/16)
January 7, 2016: Here are four stocks trading with heavy volume among 659 equities making new 52-week lows today.
Freeport- McMoRan Inc. (NYSE: FCX) dropped about 12% on Thursday to post a new 52-week low of $5.43 against a 52-week high of $23.97. The stock closed at $6.17 on Wednesday night. Volume reached topped 56 million shares, roughly 50% higher than the stock’s daily average volume. Moody’s said earlier this week that it will be reviewing the company’s unsecured debt for a possible downgrade. Junk status is the next stop.
Hilton Worldwide Holdings Inc. (NYSE: HLT) fell about 4.3% on Thursday to post a new 52-week low of $19.14 against a high of $31.60. The stock closed at $20.00 on Wednesday night. Volume rose to more than 24 million, about 4 times higher than the daily average of around 6.6 million shares traded. The hotel and resort operator had no specific news today.
Vale SA (NYSE: VALE) dropped about 7.2% on Thursday to post a new 52-week low at $2.70 after closing at $2.91 on Wednesday. The stock’s 52-week high is $9.14. Share volume was nearly equal to the daily average of around 23.8 million shares traded. The Brazil-based mining firm is suffering on a collapsing Brazilian real.
Kinder Morgan Inc. (NYSE: KMI) posted a new low on Thursday. Shares dropped about 4.3% to a low of $14.13 from Wednesday’s closing price of $14.77. The stock’s 52-week high is $44.71. Volume was 30% below the daily average of around 37 million shares. The pipeline and terminal company had no specific news today.