Silver and gold prices are taking a hit this morning as investors wait for the full outcome of the Greek elections. As it stands right now the pro-bailout parties do not have enough seats to secure a ruling coalition. In France, Sarkozy was defeated by the socialist candidate Hollande. Parliamentary elections are quickly approaching in France so it will be interesting to see how the full government shakes out.
The broader market is trying to temper early losses with the Dow down 49. The Nasdaq is off 5 and the S&P is down 3.
The current silver spot price is down 39 cents to $29.95. Gold prices are off nearly $6 to $1636.60 per ounce. Most investors are going to take a wait and see approach to see how the Sunday’s elections shake out.
Mining Stocks
Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) is up 1.48% this morning at $35.84. FCX has traded 2.9 million shares so far today and trades 18.2 million shares a day on average. FCX shares have dropped 6.6% over the past week. The company has a market cap of 34.05 billion.
Kinross Gold Corporation (NYSE:KGC) is down 2.26% in early trading at $8.20. KGC has traded 2.1 million shares so far today and trades 8.9 million shares a day on average. Kinross Gold is down 8% since last Tuesday. The company has a market cap of 9.2 billion.
Barrick Gold Corporation (NYSE:ABX) is down 0.82% today at $37.58. ABX has traded 1.3 million shares so far today and trades 7.6 million shares so far today. ABX shares are down 6.65% over the past five days. The company has a market cap of 37.75 billion.
Gold Fields Ltd. (NYSE:GFI) is up 0.47% this morning at $12.74. GFI has traded more than a million shares in early trading and averages 3.5 million shares a day. GFI shares have dipped 1.31% since last Tuesday. The company has a market cap of 9.21 billion.
Yamana Gold, Inc. (NYSE:AUY) is down 2.48% today at $13.77. AUY has traded 1.3 million shares so far today and trades 7.2 million shares a day on average. AUY stock has dipped 6% over the past week. The company has a market cap of 10.29 billion.
Eldorado Gold Corp. (NYSE:EGO) is down 1.59% this morning at $12.97. EGO has traded 836 thousand shares so far today and trades just over 4 million shares a day on average. EGO shares are down over 8% since last Tuesday. The company has a market cap of 7.95 billion.
Silver Wheaton Corp. (NYSE:SLW) is down 2.15% today at $27.71. SLW has traded 1.2 million shares so far today and trades 5 million shares a day on average. SLW shares have dipped nearly 10% over the past five days. The company has a market cap of 9.81 billion.
Hecla Mining Co. (NYSE:HL) is down 1.26% this morning at $3.91. HL has tarded 677 thousand shares so far today and trades 5.6 million shares a day on average. HL shares have fallen 8.73% since last Tuesday. The company has a market cap of 1.12 billion.
Coeur d’Alene Mines Corporation (NYSE:CDE) is down 3.53% this morning at $19.11. CDE has traded 308 thousand shares so far today and trades 1.5 million shares a day on average. Coeur reported first quarter results earlier today. Net metal sales were $204.6 million, 3% higher than a year ago. Silver production was 4.9 million ounces, a nearly 20% increase from a year ago. The company has a market cap of 1.75 billion.
Pan American Silver Corp. (NASDAQ:PAAS) is down 1.26% in early trading at $17.30. PAAS has traded 294 thousand shares so far today and averages 1.8 million shares a day. PAAS shares have dipped 11.51% in the past five days. The company has a market cap of 1.81 billion.
About Kyle Pinder
