Wall Street’s main indices bounced back from a bloodbath on Tuesday as investors gobbled up shares on hopes that the US-China trade tensions can subside.
The Dow Jones rallied by 2.66 percent, the S&P 500 rose by 2.51 percent, and the Nasdaq surged by 2.71 percent.
Despite a broader market optimism, 10 companies, predominantly gold miners, were heavily sold down amid lower gold prices.
In this article, we have listed the 10 worst-performing firms and detailed the reasons behind their drop.
To come up with the list, we considered only the stocks with more than $1 billion in market capitalization and $5 million in trading volume.
A man in a black suit holding a tablet looks at stock market data on a monitor. Photo by Tima Miroshnichenko on Pexels
10. Coeur Mining Inc. (NYSE:CDE)
Coeur Mining fell for a third straight day on Tuesday, losing 3.36 percent to close at $5.75 apiece as investors sold off positions in line with the decline in gold prices while repositioning portfolios ahead of its first quarter earnings results.
As of this writing, spot prices of gold were down to $3,340.94 per ounce after touching the $3,500 territory in the previous trading day.
Meanwhile, CDE said it would report its first quarter operational and financial performance after market hours on May 7, 2025. Investors will be closely watching out for whether the company updates its outlook for the year and whether it will beat or miss analysts’ earnings estimates.
Last year, CDE narrowed its net loss by 43.4 percent to $58.9 million from the $103.6 million registered in 2023, as revenues rose 28 percent to $1.05 billion year-on-year.
9. Harmony Gold Mining Company Ltd. (NYSE:HMY)
Harmony Gold dropped its share prices by 3.9 percent on Tuesday to end at $17.01 apiece as investor funds flocked to higher-yielding assets such as Bitcoin amid the drop in spot prices of gold.
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.
In recent news, HMY earned a higher price target of ZAR 295 from ZAR 205 previously, while keeping a hold rating on the shares.
Earlier this year, the company said that its net income in the first semester grew by 33 percent to R7.9 billion from R5.96 billion in the same period a year earlier, as revenues rose by 18 percent to R37.1 billion from R31.4 billion, with gold revenues contributing to total revenue growth, increasing 19 percent to R35.4 million from R29.7 million.
8. QXO Inc. (NYSE:QXO)
QXO Inc. fell for a fourth straight day on Tuesday, losing 4.09 percent to close at $12.20 apiece amid the lack of fresh catalysts to boost investing appetite.
In recent news, QXO entered into a definitive agreement with Beacon Roofing Supply for the acquisition of the latter for $11 billion, or a price of $124.35 apiece.
On Tuesday, Beacon’s Board of Directors unanimously recommended that all shareholders tender their shares into the offer until 5 pm on April 28, 2025.
The transaction is expected to close at or near the end of April, subject to a majority of Beacon shares tendering in the offer and other customary closing conditions.
The acquisition has already received the green light from the antitrust watchdogs in the US and Canada.
QXO said it plans to become the leader in the $800 billion building products distribution industry, as it targets to hit annual revenues of $50 billion.
7. Webull Corporation (NASDAQ:BULL)
Webull Corp. saw its share prices drop for a fifth straight day, losing 4.63 percent to close at $23.48 apiece, amid a pessimistic outlook from a stock market analyst.
In the April 17 episode of Mad Money, host and former hedge fund manager Jim Cramer said that BULL is an “absolutely no.”
“Webull is missing one word after bull. I’m going to say absolutely no to that one,” he said.
BULL is a financial technology services company that provides a trading platform with features such as market data, investment tools, investor education, and access to wealth management products.
Since its launch date in 2018, the company has already expanded to 15 regions across Asia Pacific, Europe, and Latin America.
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.
5. Halliburton Company (NYSE:HAL)
Halliburton dropped its share prices for a second straight day, shedding 5.57 percent to finish at $20.70 apiece as investors sold off positions following a dismal first earnings performance.
In a statement, HAL said net income attributable to the company dropped by 66 percent to $204 million from $606 million in the same period a year earlier, as revenues dropped by 6.7 percent to $5.4 billion from $5.8 billion year-on-year.
Earlier, HAL earned a lower price target of $28 from RBC Capital, down from $34 previously. However, RBC Capital maintained its Sector Perform rating for HAL.
According to RBC, the lower adjustment was part of its wider analysis on the oil and gas equipment and services sector, which is currently under pressure over tariff policies and broader economic issues.
4. New Gold Inc. (NYSEAMERICAN:NGD)
New Gold dropped its share prices by 5.71 percent on Tuesday to close at $3.47 apiece as investors disposed of shares in the company following the drop in gold prices while repositioning portfolios ahead of the release of its earnings performance.
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.
NGD is an intermediate gold mining company with a portfolio of two core-producing assets in Canada, namely the Rainy River Mine in Ontario and the New Afton Mine in British Columbia.
The company is set to release its earnings performance on April 29, 2025.
Analysts expect the company to report earnings of $0.01 per share, or a year-on-year decline of 50 percent.
3. First Majestic Silver Corp. (NYSE:AG)
First Majestic Silver declined for a third straight day on Tuesday, shedding 5.73 percent to end at $6.09 apiece as investor sentiment was dampened by a sell-off 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.
In the first quarter of the year, AG said that it achieved an 88-percent increase in silver ounces at 3.7 million silver ounces from 2 million silver ounces in the same period a year earlier.
Total silver production in the quarter included 1.4 million ounces of attributable silver production from Cerro Los Gatos as well as a 17-percent increase at San Dimas primarily due to operational improvements.
2. Iridium Communications Inc. (NASDAQ:IRDM)
Iridium Communications dropped for a third straight day on Tuesday, shedding 6.85 percent to close at $21.61, shunning better earnings performance for the first quarter of the year.
In a statement on Tuesday, IRDM said that it achieved a 56-percent increase in net income for the January to March period, at $30.4 million from $19.65 million year-on-year.
Operational EBITDA was at $122.1 million, marking a 6-percent increase from $115 million in the prior-year period.
Meanwhile, revenues stood at $214.9 million, consisting of $154.3 million of service revenue and $60.6 million of revenue related to equipment sales and engineering and support projects.
IRDM said total revenues increased by 5 percent year-on-year.
1. RTX Corporation (NYSE:RTX)
RTX Corp. saw its share prices drop by 9.81 percent on Tuesday to close at $113.75 each following a dismal earnings performance in the first quarter of the year.
In a statement, reported net income in the January to March period dropped by 10 percent to $1.5 billion from $1.7 billion year-on-year. The figure included $400 million of acquisition accounting adjustments and $100 million of restructuring and other net significant and/or non-recurring items.
Adjusted net income increased by 11 percent to $1.99 billion from $1.79 billion.
Reported and adjusted sales were at $20.3 billion, up 5 percent year-on-year.
For full-year 2025, RTX expects adjusted sales to settle between $83 billion and $84 billion, including 4 to 6 percent organic growth.
“The current environment is clearly very dynamic, but our company is well-positioned to perform operationally and our teams remain focused on executing on our commitments and delivering our robust backlog,” said RTX President and CEO Chris Calio.
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