Alderon Iron Ore Corp. (AXX) saw a big move in the last trading session, as the company’s shares fell by over 5% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading below the volatile price range of $1.65 to $1.85 in the past one-month time frame.
The company, engaged in iron ore development, has not seen any estimate revisions over the past month, and the earnings consensus hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, especially on earnings estimates following the recent slump.
AXX currently holds a Zacks Rank #4 (Sell) while its Earnings ESP is 0.00%.
Investors interested in the Basic Materials sector may consider better-ranked stocks like AngloGold Ashanti Ltd. (AU), Methanex Corporation (MEOH), and BHP Billiton Limited (BHP). While AngloGold Ashanti and BHP Billiton carry a Zacks Rank #1 (Strong Buy), Methanex holds a Zacks Rank #2 (Buy).
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