Zacks #1 Rank Top Performers: ASM International, GMX Resources ...

Tag : ferrous wire

Zacks.com announces the latest list of top performing Zacks #1Rank ( “ strong buy ” ) stocks. The stocks on the prestigious list with the highestreturns last week were ASM International N.V. (NASDAQ: ASMI), GMX Resources, Inc. (NASDAQ: GMXR), Metalico, Inc. (AMEX: MEA), Massey Energy Company (NYSE: MEE) and Olympic Steel, Inc. (NASDAQ: ZEUS). Each of these stocks easily outperformed theS&P 500.

Stocks ranked #1 (Strong Buy) by Zacks have produced an averageannual return of +32% since inception in 1988. During the 2000-2002bear market, Zacks #1 Rank stocks gained 43.8% while the S&P500 tumbled 37.6%.

ASM International N.V. (NASDAQ: ASMI) received an offer for all of its Front-Endactivities early last week, which it promptly rejected on Friday.The offer from Applied Materials and Francisco Partners was valuedat up to $800 million. The chip-equipment manufacturer stated thatthe offer “ significantly undervalues the Front-End business and fails toreflect its future prospects. ”

Shares of ASMI advanced 18.8% last week, which made it one of thetop-performing Zacks #1 Rank companies. Earnings estimates for thisyear are up 32.7% in two months and 14.5% in 30 days. Furthermore,next year ’ s expectations are currently about 42.5% higher than this year ’ s. The company will report its second-quarter results in late July.For its first quarter, ASMI announced earnings per share thattopped the consensus by almost 18%.

GMX Resources, Inc. (NASDAQ: GMXR) is making its second appearance on the Zacks #1Rank Top Performers List for this month, and its third appearancein the past four weeks. Over the past seven trading days, earningsestimates for this year have increased 5.2%, while expectations forthe second quarter are up 19.6%. The past two months have seenadvances of 50% and almost 112%, respectively. In addition,analysts currently expect next year ’ s earnings per share to improve approximately 38% from the presentyear.

Shares of this ‘ Pure Play ’ exploration and production company rose 16.6% last week, securinga spot on the Zacks #1 Rank Top Performers List. On Jun 17, thecompany announced a pair of agreements with a private company topurchase land in Harrison County, East Texas and Caddo Parish NorthLouisiana. GMXR called the acquisitions a significant growthopportunity, especially as it prepares its accelerated drillingplans for the ‘ Haynesville ’ /Bossier Shale. The company also increased in its credit facilityand announced a preferred dividend.

Metalico, Inc. (AMEX: MEA) gained approximately 12% last week, which was enoughto place it on the Zacks #1 Rank Top Performers List. MEA is aholding company with operations in ferrous and non-ferrous scrapmetal recycling, as well as fabrication of lead-based products. Thecompany continues to benefit from rising commodity prices.
Its first quarter – reported in late April – turned out to be the best in its history. Earnings per share of 20cents advanced year over year from 12 cents and eclipsed theconsensus by almost 54%. Sales soared 230% to $170.5 million from$51.8 million.

Shares of Massey Energy Company (NYSE: MEE) advanced 9.2% for the week ended Jun 20, marking itsthird consecutive appearance near the top of the Zacks #1 Rank TopPerformers List. Earnings estimates for this year are up about 21%over the past two months, as the company has been able tocapitalize on rising coal prices. The company entered this week onthe S&P 500, having been added after last Friday ’ s close.

The company announced a strong first quarter in April, as earningsper share of 52 cents beat the consensus by 62.5%. Produced coalrevenue was up 4.5%. Massey was very active during the quarter inits expansion and cost reduction projects. The company expectsproductivity to improve in the second quarter and beyond. Earningsestimates for the second quarter are up 15.7% over the past twomonths.