These 10 Firms Were Heavily Hit on Friday

5. Coeur Mining Inc. (NYSE:CDE)

Shares of Coeur Mining retreated by 8.45 percent on Friday to end the day at $6.61 apiece following the company’s completion of its merger with SilverCrest Metals Inc., while investors repositioned portfolios ahead of CDE’s earnings performance release next week.

On Friday, CDE announced that it successfully acquired all of the issued and outstanding common shares of SilverCrest, with the latter’s shareholders receiving 1.6022 CDE common shares for each SilverCrest common share. CDE issued more than 239 million shares in the transaction.

CDE said BMO Capital Markets and Goldman Sachs & Co. LLC acted as financial advisors to CDE. Meanwhile, Goodmans LLP, as well as Gibson, Dunn & Crutcher LLP acted as its legal advisors.

CDE said it plans to share additional information about the expected benefits of the transaction, including 2025 production and cost guidance, when it releases its earnings performance for the fourth quarter and full year of 2024 next week.