Barrick, Eldorado Gold Slide into Thursday’s 52-Week Low Club
Barrick Gold, Cemex, Eldorado Gold, and Scorpio Tankers all posted new 52-week lows Thursday.
November 30, 2017: Here are four stocks trading with heavy volume among 50 equities making new 52-week lows in Thursday’s session. On the NYSE advancers led decliners by 3 to 2 and on the Nasdaq, advancers led decliners by about 8 to 7.
Barrick Gold Corp. (NYSE: ABX) dropped about 4% Thursday to post a new 52-week low of $13.46 after closing at $14.03 on Wednesday. The 52-week high is $20.78. Volume was around 15 million, about 65% above the daily average of about 9 million. The gold miner had no specific news.
Cemex SAB de CV (NYSE: CX) dropped about 2.7% Thursday to post a new 52-week low of $7.57 after closing at $7.78 on Wednesday. The 52-week high is $10.37. Volume was around 6.8 million, about 15% below the daily average of around 8.3 million. The Mexico-based cement company had no specific news.
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Eldorado Gold Corp. (NYSE: EGO) posted a new 52-week low of $1.13 Thursday, down about 2% after closing at $1.15 on Wednesday. The 52-week high is $3.91. Volume was about 3.7 million, nearly 33% below the daily average of around 5.5 million shares. The company had no specific news.
Scorpio Tankers Inc. (NYSE: STNG) dropped 4.6% Thursday to post a new 52-week low of $3.09 after closing at $3.24 on Wednesday. The stock’s 52-week high is $4.93. Volume of around 4 million was 10% above the daily average. The company announced yesterday that it had priced an underwritten offering of 30 million shares at $3.00 a share.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.