Vale S.A. (VALE - Free Report) was a big mover last session, as the company saw its shares rise nearly 10% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, which remained volatile and traded within the range of $11.20 – $14.86 in the past one-month time frame, witnessed a sharp increase yesterday.
The move came after reports that the company announced a plan to cut down operations in Brazil following the news of dam collapse.
The company has seen one positive estimate revision in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved higher over the past few weeks, suggesting that more solid trading could be ahead for Vale. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.
Vale currently has a Zacks Rank #2 (Buy) while its Earnings ESP is 0.00%.
Another stock worth considering in the Mining – Iron industry is Denison Mines Corp. (DNN - Free Report) which carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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