Mechel OAO ( MTL ) was a big mover last session, as the company saw its shares rise over 13% on the day. The move came on solid 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 above the volatile price range of $1.90 to $2.15 in the past one-month time frame.
Though the company has seen no negative revisions in the past 30 days, its Zacks Consensus Estimate moved lower over the same time frame, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward to see if yesterday's jump lasts.
Mechel currently has a Zacks Rank #3 (Hold) while its Earnings ESP
However, better-ranked stocks in the basic materials sector include Agnico Eagle Mines Limited
), Compass Minerals International Inc.
) and Universal Stainless & Alloy Products Inc.
). All of these sport a Zacks Rank #1 (Strong Buy).
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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 reportMECHEL OAO ADS (MTL): Free Stock Analysis ReportAGNICO EAGLE (AEM): Free Stock Analysis ReportCOMPASS MINERLS (CMP): Free Stock Analysis ReportUNVL STAINLESS (USAP): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research