After posting gains for more than a week Basic Materials stocks finally tumbled on Tuesday as the sector closed down 1.40% but there were still a handful of companies that posted impressive gains. Leading that pack was GreenHunter Energy, Inc. (AMEX: GRH) which closed up 27.95% on the day at 1.18. The renewable energy company has been moving since last week’s announcement that they had closed on $30 million of tax-exempt recovery zone facility bonds. Shares touched 1.25 on Tuesday, a new six-month high and at 1.18 they are comfortable ahead of the 50-day moving average of 0.73 and 200-day moving average of 0.99.
With nearly10x their average trading taking place on Tuesday shares in Metalline Mining Company (AMEX: MMG) climbed 18.18% on the day to close at 0.80. The company, which is involved in the exploration and development of mineral properties in Mexico, hit a high of 0.88 during trading to set a new three-month high and shares are currently above the 50-day moving average of 0.67 and 200-day moving average of 0.76.
Constar International, Inc. (NASDAQ: CNST), a company that produces and sells polyethylene terephthalate plastic containers for food, beverage, and other consumer end-use applications in the United States, the United Kingdom, and Holland, also enjoyed a strong day amongst investors as shares climbed 13.05% to close at 2.60. It’s been a rough road for CNST and while the positive day was a bit of relief they are still below their 50-day average of 2.76 and a far cry from their 200-day moving average of 11.79.
Following positive news regarding their third quarter results WHX Corporation (NASDAQ: WXCO) surged 13.43% on the day to close at 12.67. The company announced net income for the three-month period of $6 million compared to$1 million for the same period last year. That news sent shares as high as 13.39 during the day, a new 52-week high and shares are well above the 50-day moving average of 9.80 and 200-day moving average of 5.43.
Crosshair Exploration & Mining Corp. (AMEX: CXZ) pushed forward 9.60% on Tuesday to close at 0.25. CXZ engages in the acquisition, exploration, and development of mineral properties, primarily uranium, base, and precious metals in North America. Tuesday’s trading volume was nearly 15x its average and sent shares as high as 0.28, a new 52-week high. The company is now above its 50-day moving average of 0.20 and 200-day moving average of 0.17.
