We recently published Ten companies that are collapsing more than Wall Street. Coeur Mining, Inc. (NYSE:CDE) had one of the worst results on Tuesday.
Coeur Mining fell 16.11 percent on Tuesday to close at $18.48 apiece, mirroring the decline in the broader sector after gold prices fell sharply during the day.
Coeur Mining, Inc. (NYSE:CDE) fell along with its counterparts after gold and silver fell 6.3 percent and 8.7 percent, respectively, during the day, before paring losses towards the end of the session.
Investors appeared to have taken profits after precious metals hit new highs in recent weeks.
In other developments, Coeur Mining, Inc. (NYSE:CDE) is scheduled to release its third quarter earnings results after the market closes next Wednesday, October 29. A conference call will be held to delve deeper into the results.
Photo by Dominik Vanyi on Unsplash
The results presentation date coincides with the announcement by the Federal Reserve of its decision on interest rates for the month, whose cut is highly anticipated by investors.
Lower rates typically boost precious metal prices as they weaken the US dollar, making gold cheaper for foreign investors to purchase.
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Disclosure: None. This article was originally published in Internal jumpsuit.