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We recently compiled a list of the 10 Biggest Losers of This Week. In this article, we are going to take a look at where Coeur Mining Inc. (NYSE:CDE) stands against the other stocks.
Wall Street's main indices all finished in the green during a shortened trading session this week, yet 10 companies--mainly technology stocks-- still booked significant losses in their valuations. Let's take a look at the extent of each company's losses and the potential factors that could have dampened investor sentiment.
To come up with the biggest losers this week, we considered only the stocks that have at least $2 billion in market capitalization and $5 million in daily trading volume.
Aerial view of a gold mine, reflecting the company's precious metals mining operations.
Coeur Mining Inc. (NYSE:CDE)
Shares of Coeur Mining on Tuesday ended flat at $5.84 apiece, holding steady compared to Monday’s share price. However, the stock price dropped by 7.01 percent over the past week as investors remained cautious over the result of an investigation on whether its merger with SilverCrest Metals Inc. would be fair to shareholders.
In October this year, Coeur announced that it was fully acquiring SilverCrest, pursuant to a court-approved plan of arrangement.
If approved by the court, the acquisition would add 21 million ounces of silver production to Coeur’s portfolio and would represent 56 percent of revenues from US-based mines and 40 percent of silver revenues.
In addition, analysts have raised concerns about the company’s increasing debt, which increased to $514.9 million from $443 million in the same period last year.
Overall CDE ranks 10th on our list of the biggest losers of this week. While we acknowledge the potential of CDE as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than CDE but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.