U.S. Markets open in 8 hrs 37 mins

Augusta Resource (AZC) Surges: Stock Shoots 90.5%

Zacks Equity Research

Augusta Resource Corp. (AZC) was a big mover last session, as the company saw its shares rise over 90% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. The deal with RK Mine Finance Trust to extend the existing $83 million Red Kite loan by another $26 million was a major boost to the share price. This reverses the recent trend, as the stock is now down nearly 32% in the past 7-day time frame.

Over the past 7 days, the company has seen no estimate revision and its Zacks Consensus Estimate remained unchanged. Yesterday’s price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

Augusta Resource currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.

However, some better-ranked stocks in the mining sector include Rio Tinto plc (RIO), BHP Billiton plc (BBL) and North American Palladium Ltd. (PAL). While Rio holds a Zacks Rank #1 (Strong Buy), BHP and North American Palladium carry a Zacks Rank #2 (Buy).

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>

AUGUSTA RESOURCE CORP (AZC): Free Stock Analysis Report

RIO TINTO PLC (RIO): Free Stock Analysis Report

BHP BILLITON PLC (BBL): Free Stock Analysis Report

NORTH AMER PALLADIUM LTD (PAL): Free Stock Analysis Report

Zacks Investment Research