Why Hycroft Mining Was a Tarnished Stock Last Month
It couldn't escape a rout in precious metals prices.
Overview
The trajectory of precious metals prices in June was hardly helping the stocks of companies that specialize in mining such minerals. Exhibit A: Hycroft Mining (NASDAQ: HYMC), a silver and gold specialist that possesses but a single mine in its home state of Nevada -- although it's quite a large-scale play.
With one mine, Hycroft is a classic stock in its sector, a non-diversified company that is always susceptible to spot price movements. That worked beautifully in its favor earlier this year, when a long bull run in precious metals reached record highs for both gold and silver.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.