Alderon Iron Ore Corp. (AXX) was a big mover last session, as the company saw its shares rise over 5% on the day. The move came on solid 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 above the volatile price range of $1.18 to $1.30 since May 13.
The company has seen one positive revision in the past 30 days, while its Zacks Consensus Estimate moved higher over the same time frame, suggesting that more solid trading could be ahead for Alderon Iron Ore. So make sure to keep an eye on this stock going forward to see if yesterday’s jump can turn into more strength down the road.
Alderon Iron Ore currently has a Zacks Rank #2 (Buy) while its Earnings ESP is 0.00%.
Other stocks to consider in the basic materials sector include Anglo American plc (AAUKY), Compass Minerals International Inc. (CMP) and Agnico Eagle Mines Limited (AEM). While Anglo American and Compass Minerals International sport a Zacks Rank #1 (Strong BUY), Agnico Eagle Mines has a Zacks Rank #2.
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