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Weakness Seen in Midway Gold (MDW): Stock Tumbles 9.1%

Zacks Equity Research

Midway Gold Corp. (MDW) saw a big move last session, as the company’s shares fell nearly 9% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This reverses the recent trend for MDW, as the stock is now up nearly 17% since Feb 3.

This gold mining company has seen a flat track record when it comes to current year estimate revisions, as there has been no revision on either side over the past few weeks. 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 of this firm in the near future, and especially on earnings estimates following the recent slump.

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

Some better-ranked stocks in the Gold Mining industry include Franco-Nevada Corporation (FNV), Lake Shore Gold Corp. (LSG) and Pretium Resources Inc. (PVG). While Franco-Nevada holds a Zacks rank #1 (Strong Buy), Lake Shore Gold and Pretium carry a Zacks Rank #2 (Buy).

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MIDWAY GOLD CORP (MDW): Free Stock Analysis Report

PRETIUM RESOURCES INC (PVG): Free Stock Analysis Report

LAKE SHORE GOLD CORP (LSG): Free Stock Analysis Report

FRANCO NEVADA CORP (FNV): Free Stock Analysis Report

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