Here’s Why Compass Minerals International, Inc. Plunged Today
Shares of Compass Minerals International (NYSE: CMP) slumped on Friday, falling more than 12% at 2:30 p.m. EDT. Driving the sell-off was an announcement by the company that it's Goderich rock salt mine in Ontario would be operating at a reduced rate for the next few weeks due to an incident. As a result, the company will take a hit to its bottom line.
Compass Minerals reported that geological movements at the mine caused a partial ceiling collapse earlier this week. While there were thankfully no injuries, the incident did damage a portion of the company's main conveyance system. As a result, it would operate at a reduced rate for the next six weeks.
Image source: Getty Images.
Source: Fool.com
Compass Minerals Intl. Stock
€7.20
-2.700%
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