Why Coeur Mining Stock Fell as Much as 10% in Early Trading Today
Shares of gold and silver miner Coeur Mining (NYSE: CDE) fell as much as 10% in the first hour of trading on Sept. 2. Although it quickly started to claw back some of the drop, the stock was still off by roughly 7.5% at 11 a.m. EDT.
Coeur, like most precious-metals miners, doesn't produce just one commodity. The revenue mix for the company in 2019 was 69% gold, 27% silver, and 4% split equally between zinc and lead. That's a huge difference from the mix a decade ago -- 69% silver and 31% gold. The company decided to make the shift after gold had been performing better than silver for a number of years. However, many still associate Coeur with its silver-focused history. That's not unreasonable given the still-significant level of silver in the revenue mix.
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Source Fool.com
