McEwen, Raven Industries, First Majestic Among Biggest Percentage Decliners Mar 14th
McEwen Mining Inc (NYSE:MUX): McEwen Mining announced new exploration drill results from its El Gallo Complex in Sinaloa State, Mexico. Highlights include a new discovery called CSX, which returned 629.4 gpt silver over 6.1 meters and from Palmarito, which returned 240.7 gpt silver over 8.6 meters. Mineralization in both areas starts from surface. In addition, reconnaissance work in Nayarit State, which is located south of Sinaloa, has discovered a silver prospect which is showing good potential for size and grade, the company said. The shares closed at $4.20, down $0.41, or 8.89%. They have traded in a 52-week range of $2.93 to $9.87.
Raven Industries, Inc. (NASDAQ:RAVN): Raven sees Aerostar division sales down in Q1 The company said, “We see a number of the positive fourth quarter trends carrying over to the first quarter of the new fiscal year…We look for Engineered Films to take advantage of their higher capacity and improved efficiencies by increasing the volume of pounds processed and maintaining strong profit margins. Applied Technology should continue to show gains in sales and profits, although at a lower rate of growth than recent quarters. At Aerostar, despite strong interest at this point, the order backlog is minimal for aerostats and surveillance systems. As such, division sales in the first quarter are expected to decline from the previous year.” The shares closed at $59.91, down $3.92, or 6.14%. They have traded in a 52-week range of $43.41 to $71.12.
First Majestic Silver Corp (NYSE:AG): First Majestic initiated with a Buy at BofA/Merrill with a share price target of $22. The shares closed at $17.07, down $1.32, or 7.18%. They have traded in a 52-week range of $13.35 to $26.88.
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