Yamana Gold Inc. (NYSE: AUY) dropped about 2.3% on Wednesday to post a new 52-week low of $3.31 against a high of $10.70. Volume was about 15% lower than the daily average of around 13 million shares. The gold mining company’s stock got dented today by a four-month low for gold.
Cliffs Natural Resources Inc. (NYSE: CLF) dropped about 8% on Wednesday to post a new 52-week low of $5.02 after closing at $5.46 on Tuesday. The stock’s 52-week high is $21.25. Share volume was about equal to the daily average of around 9 million shares traded. The company’s credit rating was downgraded on Monday and an analyst at Axiom Securities downgraded the stock from Hold to Sell.
Philip Morris International Inc. (NYSE: PM) posted a new 52-week low on Wednesday. Shares dropped about 2.4% to $77.38 from Tuesday’s closing price of $79.25. The stock’s 52-week high is $91.63. Volume is about 15% above the daily average of around 5 million shares. The British House of Commons has passed legislation banning branding on cigarette packages. Cigarettes will carry product names in a standard font. The bill must clear the House of Lords before becoming law. Cigarette makers have said they will challenge the low.
Exxon Mobil Corp. (NYSE: XOM) dropped about 0.3% on Wednesday to post a new 52-week low of $84.03 after closing at $84.26 on Tuesday. The stock’s 52-week high is $104.76. Share volume was about 30% below the daily average of around 16 million shares traded. Oil prices sank following the weekly inventory report, but recovered later in the day and dragged Exxon and others along with it.
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