The selling that pulled markets lower by the close of Monday’s trading session was unanimously understood to be the result of investor concerns over the crisis that is now unfolding in Eastern Europe between the Ukraine and Russia.
Commodities futures gained throughout the day, and did so across the board, with gold and other precious metals once again assuming the position of haven investments. But it was not only futures that gained on the day, as a number of metals stocks traded up and on high volume. Among the ten stocks that had gained on at least three times average volume, half of them were Canadian junior mining outfits who saw an uptick in buying without any specific catalyst, at least from the perspective of fundamental data.
Alderon Iron Ore Corp. (AXX)
Industry: Industrial Metals & Minerals
Market-Cap/Price: $218.64 million / $1.68
Volume (March 3 vs. 3-month average): 73.07 thousand / 3.75 thousand
Performance (March 3 session): +1.20 percent
Performance (year-to-date vs. 12-month): +7 percent / +35.50 percent
North American Palladium Ltd. (PAL)
Industry: Industrial Metals & Minerals
Market-Cap/Price: $81.16 million / $0.45
Volume (March 3 vs. 3-month average): 18.77 million / 4.740 million
Performance (March 3 session): +15.92 percent
Performance (year-to-date vs. 12-month): -30.50 percent / -68.80 percent
Rare Element Resources Ltd. (REE)
Industry: Industrial Metals & Minerals
Market-Cap/Price: $86.21 million / $1.81
Volume (March 3 vs. 3-month average): 2.14 million / 540.51 thousand
Performance (March 3 session): +6.50 percent
Performance (year-to-date vs. 12-month): +16.75 percent / -15 percent
International Tower Hill Mines Ltd. (THM)
Industry: Gold
Market-Cap/Price: $69.62 million / $0.71
Volume (March 3 vs. 3-month average): 1.33 million / 434.92 thousand
Performance (March 3 session): +6 percent
Performance (year-to-date vs. 12-month): +73.15 percent / -55.35 percent
Quest Rare Minerals Ltd. (QRM)
Industry: Industrial Metals & Minerals
Market-Cap/Price: $34.96 million / $0.52
Volume (March 3 vs. 3-month average): 775.79 thousand / 257.29 thousand
Performance (March 3 session): +4 percent
Performance (year-to-date vs. 12-month): +10.65 percent / -28.75 percent
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