Gold Stocks Getting Hammered After Price Drop

As I wrote earlier, the price of gold has fallen off a cliff today. Naturally, it’s dragging gold stocks down with it.

As of 2:45 p.m. eastern, 20 gold stocks had declined at least 5%. Some of the most recognizable gold miners from all over the world are taking hit.

Here are a few of the more noteworthy gold stocks that are getting crushed on a bad day for the yellow metal:

  • Goldcorp (NYSE: GG): This senior gold producer with a market cap of $33 billion and operations in the U.S., Canada, South America and Mexico has seen its stock fall 5.9% today. At $41 a share, Goldcorp is suddenly trading at a 52-week low.
  • Gold Fields (NYSE: GFI): A South African miner that also has operations in Ghana, Australia and Peru, Gold Fields shares are down 5.6% today. Its current share price of $12.87 a share is 3.7% below its 52-week high entering Wednesday.
  • Jaguar Mining (NYSE: JAG): Today’s massive pullback in gold prices has taken the bite out of Jaguar. The company’s shares have fallen 7.9% today – more than any other gold stock.
  • Richmont Mines (AMEX: RIC): This Canadian gold miner hasn’t fared much better than Jaguar, with shares tumbling 6.75% today. Richmont has operations throughout Quebec and Ontario.
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