Exxon Mobil, Barrick Gold Tumble into Friday's 52-Week Low Club
February 9, 2018: Here are four stocks trading with heavy volume among 418 equities making new 52-week lows in Friday’s session. On the NYSE advancers led decliners by more than 3 to 2 and on the Nasdaq, advancers led decliners by about the same ratio.
Chesapeake Energy Corp. (NYSE: CHK) dropped more than 10% Friday to post a new 52-week low of $2.53 after closing at $2.82 on Thursday. The stock’s 52-week high is $6.59. Volume was around 55 million, almost double the daily average of about 30 million. The company had no specific news, but tumbling oil & natural gas prices simply punish this stock.
Southwestern Energy Co. (NYSE: SWN) fell about 6% Friday to post a new 52-week low of $3.42 after closing at $3.64 on Thursday. The 52-week high is $90.15. Volume of about 35 million was around 50% above the daily average. The company had no specific news.
Exxon Mobil Corp. (NYSE: XOM) traded down about 1.7% Friday and posted a new 52-week low of $73.90 after closing Thursday at $75.30. The stock’s 52-week high is $89.30. Volume was around 21 million, about 70% above the daily average. The company had no specific news.
Barrick Gold Corp. (NYSE: ABX) traded down about 4.8% Friday and posted a new 52-week low of $12.60 after closing Thursday at $13.23. The stock’s 52-week high is $20.78. Volume was around 15 million, about 50% higher than the daily average of about 10.8 million shares. The company said Wednesday that it will take a $429 million impairment charge on its Pascua-Lama mine located on the border between Argentina and Chile. Lower gold prices are no help either.