Basic material Top Gainers: Cliffs Natural Resources (NYSE:CLF), Synthesis Energy Systems (NASDAQ:SYMX), ANV, Magnum Hunter Resources (NYSE:MHR)

Posted by on Feb 17, 2014

Cliffs Natural Resources Inc (NYSE:CLF) issues a letter to all shareholders stating its commitment to pursuing a course that enhances long-term shareholder value. “Cliffs Is Currently Executing On a Plan to Enhance Shareholder Value As part of our commitment to enhancing value for all shareholders, over the last eight months, Cliffs’ Board and management team have taken significant steps to improve Cliffs’ financial and operating performance across all businesses. Our focus has been – and continues to be – on reducing costs, strengthening our balance sheet with cash flows from operations, taking a disciplined approach to capital spending, and evaluating the strategic fit and value creation potential of all of Cliffs’ assets…” Cliffs Natural Resources Inc (NYSE:CLF) stock opened at $23.07 in last trading session, and closed at $23.16, trading in the range of $22.75 – $23.53. The stock showed a positive weekly performance of 11.24%.

Synthesis Energy Systems, Inc. (NASDAQ:SYMX) announces that its wholly owned subsidiary, SES Asia Technologies, has entered into definitive agreements to form a joint venture: ZCM-SES Sino-U.S. Clean Energy Technologies, with Zhangjiagang Chemical Machinery Co. The JV combines SES’ advanced proprietary gasification technology with the market reach of one of China’s leading coal-chemical equipment manufacturers and is expected to provide a uniquely competitive and high growth platform for both SES and ZCM in China and other major Asian markets. Synthesis Energy Systems, Inc. (NASDAQ:SYMX) stock advanced 27.97% and finished the last session at $1.83. The EPS of the stock remained -0.26. Company’s market capitalization is $116.61 million.

Allied Nevada Gold Corp. (NYSEMKT:ANV) The Reno, Nev.-based business is due to report fourth-quarter and full-year earnings in late February. Analysts polled by Thomson Reuters expect quarterly net income of 3 cents a share on $92.66 million in revenue. For fiscal 2013, consensus is for full-year per-share earnings of 28 cents and $273.06 million in revenue. TheStreet Ratings team rates ALLIED NEVADA GOLD CORP as a Hold with a ratings score of C-. Allied Nevada Gold Corp. (NYSEMKT:ANV) shares closed at $5.75 on last trade day, by gaining 10.79%. Stock 52 week range is $3.01 – $23.68. Company’s market capitalization is $598.25 million.

Magnum Hunter Resources Corp (NYSE:MHR) announces that its first dry gas Utica Shale well, the Stalder #3UH located on the Stalder Pad (18 potential wells) in Monroe County, Ohio, was placed on production earlier this week and has recently tested at a peak rate of 32.5 MMCF of natural gas per day on an adjustable rate choke with 4,300 psi FCP. The well is still producing significant amounts of frac water at a current rate of 1,400 Bbls/d. The well is continuing to clean up, and the Company believes that the actual gas sales rate will likely increase further over the next several days as this water production declines. The Stalder #3UH well was drilled and cased to a true vertical depth of 10,653 feet with a 5,050 foot horizontal lateral, and successfully fraced with 20 stages. Triad Hunter, a wholly-owned subsidiary of the Company, is the operator with a 47% working interest. Other non-operated partners include Eclipse Resources, Statoil and Northwood Energy. Magnum Hunter Resources Corp (NYSE:MHR) stock opened at $8.73 in last trading session and closed at $8.69. The 52 week range of the stock is $2.37 – $8.93 and the day range was $8.45 – $8.93.

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