Why Centerra Gold Stock Crashed 15% Today
Shares of Centerra Gold (NYSE: CGAU) slumped on Monday and were trading 15% lower as of 12:30 p.m. ET. The Canadian-based gold stock, which also pays a dividend, announced its first-quarter numbers Monday morning and gave investors a pretty good reason to worry.
One jarring number stood out in Centerra's earnings report: a net loss of $73.5 million. The company earned a net profit of $89.4 million in the same quarter last year.
What went so drastically wrong for Centerra? Practically everything: lower production, lower average realized prices for gold and copper, and higher production costs.
Source Fool.com
