Alderon Iron Ore Corp. (AXX) saw a big move in the last trading session, as the company’s shares fell by nearly 5% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This reverses the recent uptrend for AXX as the stock is now up over 9% in the past fortnight.
Alderon Iron Ore, which is engaged in acquiring, exploring, and developing mineral resource properties, has not witnessed any current year estimate revision in the last 30 days, and the consensus for earnings 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, and especially on earnings estimates following the recent slump.
AXX currently has a Zacks Rank #4 (Sell) while its Earnings ESP is 0.00%.
Some better-ranked stocks in the Basic Materials sector include Northern Technologies International Corp. (NTIC), Stillwater Mining Co. (SWC) and Westlake Chemical Corp. (WLK). All these stocks hold a Zacks Rank #1 (Strong Buy).
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