Gold Miners Dominate Tuesday’s Worst-Performing Stocks

6. Hecla Mining Company (NYSE:HL)

Hecla Mining saw its share price drop by 4.88 percent to close at $5.65 apiece as investors sold off positions on gold mining stocks following the drop in gold prices.

As of this writing, spot prices of gold were at $3,340.94 per ounce, marking a drop from the $3,500 territory in the previous trading session.

Investors also shunned news that its Libby Exploration Project in Montana gained a priority status from the Trump administration.

As of March 18, HL said that the Libby project was part of the measures to advance critical mineral projects under Executive Order 14241, which aims to boost American mineral production.

“This priority status acknowledges the strategic importance of developing domestic silver and copper resources and should help streamline the remaining permitting process as we move toward a final Record of Decision,” said HL President and CEO Rob Krcmarov.

“Having a fully permitted project would add significant optionality to our portfolio, and this milestone positions us well for the future,” he added.