Shares of gold and silver miners slumped Wednesday on concerns that prices for the precious metals would continue to fall in 2014. The SPDR Gold Trust ETF (NYSEARCA: GLD) has fallen approximately 25.0 percent in the past year, while the iShares Silver Trust ETF (NYSEARCA: SLV) has fallen roughly 35.0 percent. Moody's Investors Service has stated that it expects gold prices to average $1,100 per ounce and silver to average $18.00 per ounce in 2014, down from previous predictions of $1,200 and $20 per ounce.
Coeur Mining Inc. (NYSE: CDE) shares traded in the range of $11.08 to $11.33 Wednesday before settling to close at $11.11, a decrease of 2.37 percent. The stock appears to be facing some resistance at the $11.57 and $12.11 levels with some support at $10.88. Shares of Coeur Mining have fallen approximately 54.0 percent in the past year.
More information on Coeur Mining and access to the free equity report can be found at:
www.WallStreetFundamentals.com/CDE
Endeavour Silver Corp. (NYSE: EXK) shares traded in the range of $3.64 to $3.77 Wednesday before settling to close at $3.73, a decrease of 1.58 percent. The stock appears to be facing some resistance at the $3.77 and $3.90 levels with some support at $3.60. Shares of Endeavour Silver have fallen approximately 53.0 percent in the past year.
More information on Endeavour Silver and access to the free equity report can be found at:
www.WallStreetFundamentals.com/EXK
Hecla Mining Company (NYSE: HL) shares traded in the range of $3.12 to $3.20 Wednesday before settling to close at $3.18, an increase of 0.32 percent. The stock appears to be facing some resistance at the $3.33 and $3.45 levels with some support at $3.15. Shares of Hecla Mining have fallen approximately 45.0 percent in the past year.
More information on Hecla Mining and access to the free equity report can be found at:
www.WallStreetFundamentals.com/HL
Pan American Silver Corp. (NASDAQ: PAAS)(TSX: PAA) shares traded in the range of $11.55 to $11.80 Wednesday before settling to close at $11.67, a decrease of 0.77 percent. The stock appears to be facing some resistance at the $12.29 and $13.27 levels with some support at $11.50. Shares of Pan American Silver have fallen approximately 37.0 percent in the past year.
More information on Pan American Silver and access to the free equity report can be found at:
www.WallStreetFundamentals.com/PAAS
Wall Street Fundamentals offers our members a full range of investor services including in-depth equity reports on your favorite companies and timely market updates featuring the hottest stocks trending in the marketplace.
Activate your always free membership by signing up at www.WallStreetFundamentals.com today.
Disclaimer: Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. We accept no liability for any losses arising from an investor's reliance on or use of this report. This report is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Certain information included herein is forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. Such forward-looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. Wall Street Fundamentals has no financial relationship with any company whose stock is mentioned in this release.
Contact:
Wall Street Fundamentals
Website: www.WallStreetFundamentals.com
Email: [email protected]