Why Fortuna Silver, Coeur Mining, Endeavour Silver, and Great Panther Mining All Dropped Today
What happened
Shares of precious metals miner Endeavour Silver (NYSE: EXK) fell nearly 12% at one point in the first half of the trading day on Monday. Close behind was Great Panther Mining (NYSEMKT: GPL), which was off by nearly 11% at its worst. Fortuna Silver Mines (NYSE: FSM) and Coeur Mining (NYSE: CDE) weren't too far off that mark, with each losing just shy of 10% at the depths of the morning drop. All four miners managed to claw back some of those declines by lunchtime, but they were each still down between 6% and 8%.
There's no particular shock here since all of these miners are dependent on the price of the commodity metals they produce for their top and bottom lines. Although silver and gold have been rallying overall in recent months, they have sold off with the broader market today. That in turn has dragged the shares of Endeavour Silver, Great Panther, Coeur Mining, and Fortuna along for the ride. But there is a dichotomy here worth examining.
Source Fool.com
