SVM - Why Endeavour Silver Silvercorp Metals Coeur Mining and Helca Mining Plunged Today
Shares of Endeavour Silver (NYSE: EXK) fell as much as 12% in the first 90 minutes of trading on Jan. 8. Silvercorp Metals (NYSEMKT: SVM) , Coeur Mining (NYSE: CDE) , and Hecla Mining (NYSE: HL) all dropped roughly 10%. At about 11:30 a.m. EST, all four of these precious metals miners were still clinging to material losses. There's a simple answer for the declines here and a more complicated one.
Miners Endeavour, Silvercorp, Coeur, and Hecla all share one common trait: They have a relatively heavy exposure to silver . That, from a top level, helps to explain the share price declines here, given that silver declined sharply in early trading today. Gold fell, too, but silver prices tend to be more volatile, and that was once again on display with silver dropping notably more than gold. So, it makes complete sense that this quartet of silver-heavy miners would be falling out of favor with investors.
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Why Endeavour Silver, Silvercorp Metals, Coeur Mining, and Helca Mining Plunged Today