December 3, 2015: Here are four stocks trading with heavy volume among 161 equities making new 52-week lows today.
Kinder Morgan Inc. (NYSE: KMI) dropped about 7% on Thursday to post a new 52-week low of $19.22 against a 52-week high of $44.71. The stock closed at $20.66 on Wednesday night. Volume was more than 3 times the daily average of around 19 million shares traded. The energy infrastructure company was downgraded from Buy to Hold at Argus today amid worries about the company’s ability to pay its dividend and continue to maintain its access to cheap capital.
Chesapeake Energy Corp. (NYSE: CHK) posted a new low on Thursday. Shares dropped about 15% to a low of $4.69 from Wednesday’s closing price of $5.52. The stock’s 52-week high is $21.49. Volume was more than double the daily average of around 19.4 million shares. The natural gas producer stumbled after a debt exchange offer riled up investors.
Freeport-McMoRan Inc. (NYSE: FCX) dropped about 2.2% on Thursday to post a new 52-week low of $7.66 against a high of $26.84. The stock closed at $7.83 on Wednesday night. Volume totaled about 15% below the daily average of around nearly 37.6 million shares traded. The gold and copper miner found out today that the Indonesian government will not agree to an early start to a contract extension beyond 2012 on its Grasberg copper mine. We wrote about this issue yesterday.
Southwestern Energy Co. (NYSE: SWN) dropped by about 7.9% on Thursday to post a new 52-week low at $8.15 after closing at $8.85 on Wednesday. The stock’s 52-week high is $31.49. Share volume was about 20% higher than the daily average of around 13 million. The company had no specific news today.
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