Movement Alert|Coeur Mining Falls 5.14% in Regular Trading, Gold Sector Broadly Pressured as Rate Hike Expectations Revive

Market Focus06-05 22:45

On June 5, Coeur Mining fell 5.14% in regular trading, trading at $16.605/share, with trading volume of $135 million.

On the news front, revived expectations of a Federal Reserve rate hike have weighed heavily on precious metals stocks. U.S. Treasury prices continued to decline, with the 10-year yield climbing back to 4.48% as international oil prices pushed above $98 per barrel, fueling hawkish monetary policy expectations and driving spot gold and silver down over 2%.

The broader Gold sector saw significant declines, with Pan American Silver down 7.64%, Kinross down 6.63%, Agnico Eagle Mines down 6.03%, Newmont Mining down 5.99%, and Barrick Mining down 5.75%. Additionally, Royal Bank of Canada recently lowered its target price on Coeur Mining from $26 to $23 while maintaining an outperform rating.

Coeur Mining is a precious metals producer operating gold, silver, zinc, and lead mines across the United States, Canada, and Mexico, with key assets including the Palmarejo, Rochester, Kensington, Wharf, and Silvertip mines.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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