We recently compiled a list of the These 10 Firms Were Heavily Hit on Friday. In this article, we are going to take a look at where Coeur Mining, Inc. (NYSE:CDE) stands against the other stocks.

Wall Street’s main indices finished mixed on Friday, with the tech-heavy Nasdaq emerging as the sole gainer, rallying 0.41 percent. The Dow Jones, for its part, decreased by 0.37 percent, while the S&P 500 was little changed, dipping 0.01 percent.

Ten companies mirrored a mostly pessimistic broader market.

To come up with this list, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

Aerial view of a gold mine, reflecting the company's precious metals mining operations.

Coeur Mining, Inc. (NYSE:CDE)

Shares of Coeur Mining, Inc. (NYSE:CDE) retreated by 8.45 percent on Friday to end the day at $6.61 apiece following the company’s completion of its merger with SilverCrest Metals Inc., while investors repositioned portfolios ahead of CDE’s earnings performance release next week.

On Friday, Coeur Mining, Inc. (NYSE:CDE) announced that it successfully acquired all of the issued and outstanding common shares of SilverCrest, with the latter's shareholders receiving 1.6022 CDE common shares for each SilverCrest common share. CDE issued more than 239 million shares in the transaction.

Coeur Mining, Inc. (NYSE:CDE) said BMO Capital Markets and Goldman Sachs & Co. LLC acted as financial advisors to CDE. Meanwhile, Goodmans LLP, as well as Gibson, Dunn & Crutcher LLP acted as its legal advisors.

Coeur Mining, Inc. (NYSE:CDE) said it plans to share additional information about the expected benefits of the transaction, including 2025 production and cost guidance, when it releases its earnings performance for the fourth quarter and full year of 2024 next week.

Overall CDE ranks 5th on our list of the stocks that crashed on Friday. While we acknowledge the potential of CDE as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for other AI stocks that are as promising as CDE but that trade at less than 5 times its earnings, check out our report about the cheapest AI stock.

 

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.

 

Disclosure: None. This article is originally published at Insider Monkey.