Augusta Resource Corp. (AZC) was a big mover last session, as the company saw its shares rise over 90% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. The deal with RK Mine Finance Trust to extend the existing $83 million Red Kite loan by another $26 million was a major boost to the share price. This reverses the recent trend, as the stock is now down nearly 32% in the past 7-day time frame.
Over the past 7 days, the company has seen no estimate revision and its Zacks Consensus Estimate remained unchanged. Yesterday’s price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
Augusta Resource currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
However, some better-ranked stocks in the mining sector include Rio Tinto plc (RIO), BHP Billiton plc (BBL) and North American Palladium Ltd. (PAL). While Rio holds a Zacks Rank #1 (Strong Buy), BHP and North American Palladium carry a Zacks Rank #2 (Buy).
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