Turquoise Hills, Summit Materials Flop into Friday’s 52-Week Low Club
Turquoise Hills Resources, Summit Materials, NN, and Extraction Oil & Gas all posted new 52-week lows Friday.
September 14, 2018: Here are four stocks trading with heavy volume among 99 equities making new 52-week lows in Friday’s session. On the NYSE advancers led decliners by about 1.04 to 1, and on the Nasdaq, advancers led decliners by about 1.31 to 1.
Turquoise Hill Resources Ltd. (NYSE: TRQ) traded down about 1.4% Friday and posted a new 52-week low of $2.12 after closing Thursday at $2.15. The stock’s 52-week high is $3.59. Volume was about three times the daily average of around 2.5 million. The company had no specific news. Shares are on track for a flat close for the day.
Summit Materials Inc. (NYSE: SUM) traded down about 2.3% Friday to set a new 52-week low of $18.47 after closing at $18.90 on Thursday. The stock’s 52-week high is $34.06. Volume was about double the daily average of around 2 million. The company had no specific news and shares recovered later in the morning and are on track to post a gain of around 1% for the day.
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NN, Inc. (NASDAQ: NNBR) traded down about 5.8% Friday to post a new 52-week low of $15.35 after closing Thursday at $16.30. The stock’s 52-week high is $32.90. Volume was about 15 times the daily average of around 200,000 shares. The precision manufacturing firm last night priced a secondary offering of 12.5 million shares at $16.
Extraction Oil & Gas Inc. (NASDAQ: XOG) dropped about 3.9% Friday to set a new 52-week low of $10.04. Shares closed at $10.45 on Thursday and the stock’s 52-week high is $42. Volume was about 20% above the daily average of around 1.9 million. The company had no specific news.
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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.