One company that should be on your radar is Rhino Resource Partners LP (RNO). The stock from Basic Materials sector has seen its Zacks Rank surge over the past four weeks, moving from Hold territory to its current position as a Strong Buy.
A key reason for this move has been the positive trend in the earnings estimate revisions picture. For RNO’s full year estimate, we have seen 2 estimates go higher in the past 30 days while no downward estimate revision was observed in the same time period. This trend has helped the consensus estimate to trend higher, increasing from an estimate of loss of 9 cents a share a month ago to its current level at a gain of 7 cents a share.
This positive shift in estimates has made some investors take notice and buy the stock. In fact, IRG has seen some pretty solid trading lately, as the company has moved higher by 14.5% in the past month.
If Rhino Resource Partners can keep up this great momentum on the earnings estimate front and continue to impress analysts, we could see more gains ahead for this company, suggesting that you might want to put RNO on your watch list for the future.
Other top-ranked stocks worth considering in the same space include Oxford Resource Partners, L.P. (OXF), Westmoreland Coal Co. (WLB) and Magellan Midstream Partners LP (MMP). All these stocks carry a Zacks Rank #2 (Buy).
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