U.S. Markets closed

Banro (BAA) Crumbles: Stock Falls 7.5%

Zacks Equity Research

Banro Corporation (BAA) saw a big move last session, as the company’s shares fell nearly 8% on the day. The move came on pretty good 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 below the volatile price range of $0.58 to $0.73 in the past one-month time frame.

This gold mining company has seen a flat track record when it comes to current year estimate revisions over the past few weeks, 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.

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

Some better-ranked stocks in the same sector include AngloGold Ashanti Ltd. (AU), NovaGold Resources Inc. (NG) and Richmont Mines Inc. (RIC). While AngloGold sports a Zacks Rank #1 (Strong Buy), NovaGold and Richmont hold 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 >>

BANRO CP (BAA): Free Stock Analysis Report

ANGLOGOLD ASHANTI LTD (AU): Free Stock Analysis Report

NOVAGOLD RESOURCES INC (NG): Free Stock Analysis Report

(RIC): Free Stock Analysis Report

Zacks Investment Research