U.S. Markets closed

Surging Earnings Estimate Signal Good News for Rio Alto Mining (RIOM)

Zacks Equity Research

The stock in the Mining industry, Rio Alto Mining Limited (RIOM) could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on RIOM’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Rio Alto Mining could be a solid choice for investors.

Current Quarter Estimates for RIOM

In the past 30 days, there were no estimate revisions for Rio Alto Mining. However, the consensus estimate trend has been pretty favorable, with estimates increasing from 10 cents a share 30 days ago to 11 cents today, a move of 10%.

Current Year Estimates for RIOM

Meanwhile, Rio Alto Mining’s current year figures are also looking quite promising with one estimate moving higher in the past month, while none moved lower. The consensus estimate trend has seen a boost for this time frame, increasing from 29 cents per share 30 days ago to 31 cents per share today, a move of 6.9%.

Bottom Line

The stock has also started to move higher lately, adding 5.5% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future.

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 >>

RIO ALTO MINING LTD (RIOM): Free Stock Analysis Report

Zacks Investment Research