Investing

MGM Resorts, Barrick Gold Stumble into Thursday's 52-Week Low Club

Paul Ausick

Published: August 2, 2018 4:20 pm

Last Updated: January 11, 2020 7:58 pm

August 2, 2018: Here are four stocks trading with heavy volume among 147 equities making new 52-week lows in Thursday’s session. On the NYSE advancers led decliners by about 1.46 to 1 and on the Nasdaq, advancers led decliners by about 1.57 to 1.

MGM Resorts International Inc. (NYSE: MGM) traded down about 5.8% Thursday and posted a new 52-week low of $26.86 after closing Wednesday at $28.51. The stock’s 52-week high is $38.41. Volume totaled around 37 million, about four times the daily average. The company’s earnings report included bad news for casino stocks. The stock turned it around later in the day and is on track to close with a small gain.

Halcón Resources Corp. (NYSE: HK) traded down about 5.3.2% Thursday to post a new 52-week low of $3.57 after closing Wednesday at $3.77. The stock’s 52-week high is $9.07. Volume was more than double the daily average of about 4.7 million shares. Shares closed up 11% for the day, however.

Barrick Gold Corp. (NYSE: ABX) traded down about 1% Thursday to set a new 52-week low of $10.85. Shares closed at $10.95 on Wednesday, and the 52-week high is $18.35. Volume was about 10% above the daily average of around 9.3 million. Gold stocks were hammered today as the yellow metal fell tumbled to a new low for the past 12 months or so.

Kinross Gold Corp. (NYSE: KGC) dropped about 4.8% Thursday to set a new 52-week low of $3.40. Shares closed at $3.57 on Wednesday and the stock’s 52-week high is $3.40. Volume was about 25% above the daily average of around 6.5 million.