Coeur Mining, Inc. (NYSE:CDE) shares are sliding in Thursday's premarket session.
This downward movement stems primarily from a sharp retreat in precious metals prices. Gold fell below $4,500 per ounce, while silver dropped under $70 per ounce, according to Trading Economics.
As a primary producer, Coeur's revenue remains directly tied to these market values.
Geopolitical Statements Unsettle Markets
The decline follows conflicting reports regarding potential peace talks between the U.S. and Iran. President Donald Trump stated Wednesday that Iran was eager to reach a deal. However, Iran's foreign minister contradicted this, saying Tehran has no plans to negotiate. This uncertainty has led gold to give back gains from the previous two sessions.
Broader Market Context
Macroeconomic factors are also weighing on the sector. Nasdaq futures are down 1.16% and S&P 500 futures have shed 0.94%. BlackRock recently downgraded U.S. stocks to neutral. They cited a significant “macro shock” caused by escalating Middle East conflicts.
Technical Analysis
CDE is trading 21.9% below its 20-day simple moving average (SMA) and 13.1% below its 100-day SMA, showing the near-term trend has weakened even as the longer-term structure is trying to hold.
Shares are up 190.55% over the past 12 months, and the stock is positioned closer to its 52-week highs than lows despite the recent slide.
Momentum gauges are leaning defensive: RSI is at 33.85, sitting in neutral territory but close enough to oversold to signal selling pressure is getting stretched. MACD is at -1.3663 and remains below its signal line at -0.8319, with a -0.5344 histogram that points to bearish momentum still in control.
- Key Resistance: $18.00
- Key Support: $13.50
CDE Stock Price Activity: Coeur Mining shares were down 4.76% at $16.99 during premarket trading on Thursday, according to Benzinga Pro data.
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