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Why Centerra Gold Stock Crashed 15% Today

TheMotleyFool

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Why Centerra Gold Stock Crashed 15% Today: https://pixabay.com/de/photos/gold-ingots-golden-schatz-513062/

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

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