While Basic Materials stocks slipped 1.14% on Wednesday there were a number of companies that managed to post positive numbers and leading the charge was GreenHunter Energy Inc. (AMEX: GRH) which moved up 19.48% to close at 0.92 on nearly 6x its trading volume. Shares in the renewable energy company were as high as 0.95, a three-month high, before settling at the 0.92 mark; a level that remains significantly higher than its 50-day moving average of 0.66 but still trails the 200-day moving average of 1.01.
With their Nov. 3 third quarter conference call nearing share in Mod-Pac Corp. (NASDAQ: MPAC) jumped 12.14% on the day to close at 5.08 following trading that was nearly 6x its average. The value-added, on-demand print services company is now seeing shares trade well above its 50-day moving average of 4.64 and 200-day moving average of 4.95
One day after posting a 46.10% increase TOR Minerals International (NASDAQ: TORM) came back on Wednesday and put up another strong number, surging 11.36% to close at 10.00. The specialty chemical company traded at more than 20x its average volume and neared yesterday’s 52-week high of 11.40, hitting as high as 11.30, before evening at 10.00. TOR remains well ahead of its 50-day moving average of 6.04 and 200-day moving average of 5.56.
Molycorp Inc. (NYSE: MCP) was among the top five top percentage gainers for the second straight day after shares rose another 9.61% to close at 38.56 on Wednesday. The development stage company that focuses on the production and sale of rare earth oxides (REOs) from stockpiled feedstocks has been having a very strong week and continues to put distance between its 50-day moving average of 24.40.
China Natural Resources Inc. (NASDAQ: CHNR) pushed forward 8.90% on Wednesday to close at 11.75, another solid day for the company that focuses on the acquisition and exploitation of mining rights, including the exploration, mineral extraction, processing and sale of iron, zinc and other nonferrous metals extracted or produced at mines primarily located in Anhui Province in the People’s Republic of China. CHNR is now trading above its 50-day moving average of 10.61 and 200-day moving average of 10.85 while seeing shares trade at more than 3x their average.