Shares of Armco Metals Holdings Inc (NYSE: AMCO), engaged in the business of trading and distribution of metal ore and scrap metal recycling, recorded over 18.0% gain during each of the past two consecutive trading sessions with significant number of shares exchanging hands. During the last trading session, AMCO gained 18.8% and closed at $0.20, while recording significant trading volumes of 5.4 million shares. Recently, the company has announced its financial results for Q3’14 ended September 30, 2014, where AMCO reported net revenue of $32.2 million compared to $20.5 million in Q3’13, a 57% increase and net income of $4.8 million against net loss of $3.5 million in Q3’13. During the past 5-trading sessions, AMCO gained 68.3% with daily average trading volumes of 1.2 million shares, while the stock accumulated 75.7% gain during the past one month with daily average trading volumes of 363,430 shares.
Company Description:
Armco Metals Holdings Inc. (NYSE: AMCO) imports, sells and distributes metal ores, and non-ferrous metals to the metal refinery industry in the Peoples Republic of China. The company also operates a scrap metal recycling facility in the Banqiao Industrial Zone of Lianyungang Economic Development Zone in the Jiangsu province of the PRC.
1-Year Stock Chart:
Source: Bloomberg
