Rhino Resource Partners LP (RNO) saw a big move last session, as the company’s shares fell 13% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for RNO, as the stock is now down over 62% since Oct 20.
The company which controls and operates steam and metallurgical coal properties and related assets has seen a mixed track record. Current year estimate revisions over the past few weeks hasn’t been in a trend, while the consensus for earnings moved wider to a loss of 69 cents per share from a loss of 60 cents over the last 30 days. This recent price action is discouraging, so make sure to keep a close watch of this firm in the near future, and especially on earnings estimates following the recent slump.
RNO currently has a Zacks Rank #5 (Strong Sell) while its Earnings ESP is negative.
Some better-ranked stocks in the same sector include Valero Energy Partners LP (VLP), ReneSola Ltd. (SOL) and WPX Energy, Inc. (WPX). All these stocks hold a Zacks Rank #2 (Buy).
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