News for Coeur Mining Inc (CDM1.BE)

Shares of Coeur Mining (NYSE:CDE) decreased 2.9% in after-market trading after the company reported Q4 results. Quarterly Results Earnings per share rose ...

Genesis Metals Corp. today reports assay results from the final 5 holes drilled as part of its recently completed 2020 Phase II diamond drilling program. The Chevrier Gold Project is located in... | February 3, 2021

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Shares of both the companies, set to report their fourth-quarter earnings after market close, were among the top boosts to the S&P 500. The NYSE FANG+TM index firmed 1%

Investors are gauging outlooks from big corporations to justify elevated stock market valuations, at a time when concerns over a raging pandemic and new coronavirus variants have triggered fears of a short-term pullback in markets.

By Tom Westbrook, Thyagaraju Adinarayan and Jeff Lewis

Breaking News, Latest News and Current News from OANN.com. Breaking news and video. Latest Current News: U.S., World, Entertainment, Health, Business, Technology, Politics, Sports.

Breaking News, Latest News and Current News from OANN.com. Breaking news and video. Latest Current News: U.S., World, Entertainment, Health, Business, Technology, Politics, Sports.

Global shares rebounded from last week's steep sell-off and silver prices surged on Monday as retail investors expanded their social media-fueled battle with Wall Street to drive the precious metal to an eight-year high.

The S&P 500 registered its biggest daily percentage gain since Nov. 24 on Monday after a steep sell-off last week, and technology-related shares led the advance, while a move by retail traders into silver drove up mining shares. Investors also watched talks over the latest U.S. COVID-19 relief package.

(Bloomberg) -- AMC Entertainment Holdings Inc. and some other day-trader favorites led the Reddit-fueled rally Monday despite the shift in focus to silver among the platform’s army of retail investors.AMC rose as much as 30% and cannabis firm Sundial Growers Inc. gained 26%, while BlackBerry Ltd. added 10% as brokerages removed trading restrictions from all but the most volatile stocks. The movie-theater chain, which has been hammered by Covid-related closures, gained 525% in January after announcing fresh financing that will help it avoid bankruptcy.This comes as the silver market was roiled after a now-removed post appeared on Reddit’s WallStreetBets forum that encouraged traders to pile into BlackRock Inc.’s iShares Silver Trust. Shares of U.S. and Canadian listed silver companies also surged.GameStop Corp., the most high-profile target of the Reddit forums, slumped as much as 35% Monday. The video-game retailer surged 1,625% last month, propelled by day traders who inflicted multibillion-dollar losses on hedge funds with large short positions. Short interest in GameStop tumbled to 53% of its float from 140% last month, according to data from S3 Partners.Robinhood Markets Inc. is continuing to impose trading curbs on GameStop, movie-theater chain AMC and six other stocks, but on Sunday removed restrictions on 42 others. Clients can buy only 1 share in GameStop, and as many as 10 in AMC. The popular trading app put buying limits in place last week after its clearinghouse deposit requirements for equities increased. Other brokerages including Morgan Stanley’s E*Trade also eased restrictions.The restrictions held the number of shares traded for the Grapevine, Texas-based video game retailer in check while AMC volume took off. At 12 p.m. in New York, 22 million GameStop shares had been traded while AMC’s volume was at 277 million.CMC Markets, a U.K.-based financial services company, is only allowing long trades on a handful of Reddit-touted companies including AMC and GameStop, according to a spokesman. Other retail darlings like Healthier Choices Management, which trades at fractions of a penny, soared as more than 4 billion shares changed hands and Nokia Corp. rose as much as 9.4%.While AMC shares rallied on Monday, the movie theater chain was downgraded to sell from neutral by MKM Partners. Analyst Eric Handler cut the stock and halved his price target to $1, saying that current share prices are almost double the industry’s historical peak.“The emotion behind the #SaveAMC movement could carry the shares higher in the near-term, but we believe this valuation-be-damned momentum is not sustainable over the long term,” he wrote.Shift to SilverThe attention of the retail speculators shifted over the weekend to commodities such as silver, which broke above $30 an ounce.European-listed silver miners surged, with Fresnillo Plc rising as much as 21% in its biggest intraday gain since 2008, and Hochschild Mining Plc climbing 19%. U.S.-listed peers also skyrocketed, with Coeur Mining Inc. up 39%, Hecla Mining Co. jumping 49% and First Majestic Silver Corp. adding 33%.“So far, it is not exactly the GameStop anomaly, but it is a hint that the retail traders who just discovered the strength of their unity are out there, looking for new targets -- and apparently bigger ones,” Ipek Ozkardeskaya, senior analyst at Swissquote Bank, said in written comments.(Updates with share moves throughout)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

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