Alderon Iron Ore Corp. (NYSE: AXX) closed down in trading on Monday. Trading in shares of Alderon opened at $1.75 and traded between a high to low range of $1.51 to $1.80. The company is trading below its 52 week high of $3.83 per share. The company’s recent strategic partnership with Hebei Iron and Steel Group Co., Ltd (SHE: 000709) should give a boost to current share valuations. Alderon is a Vancouver, British Columbia, based exploration-stage company that develops mineral resource properties. The company market capitalization is around $214 million. On its income statement for the quarter ending September 30, 2012, the company reported a net income loss of $25.98 million on revenues of $0. Fully diluted earnings per share for the company were -$0.24 for the same quarter.
PolyMet Mining Corp. (NYSE: PLM) traded lower, down 2.52 percent at $1.16 per share. The company’s stock is trading below its 52 week high of $1.16, opening the day’s trading at $1.15. The company reported net income of negative $1.25 million in the quarter ending October 31, 2012, on $0 revenues for the quarter. PolyMet Mining Corp. has a market capitalization of $212.02 million. PolyMet, based in Richmond, British Columbia, is a development-stage natural resources company. The company has a current ratio of 2.68 and debt to equity ratio of 23 percent, placing it in a fundamentally sound financial position.
Augusta Resource Corp. (NYSE: AZC) traded lower, finishing up 1.13 percent to close at $2.62 per share. The company is trading just below its 52 week high of $3.13. The market capitalization for AZC is $377.50 million. The company reported net income of -$2.12 million in the quarter ending September 30, 2012, on $0 in total revenues. Augusta Resource Corp. is a Vancouver, British Columbia, Canada based natural mineral resource properties company. Shares opened on Monday at $2.60 per share and traded in the range of $2.55 to $2.72. The company has a current ratio of 2.49 and debt to equity 24 percent.
Despite trading down in Monday’s session, Alderon Iron Ore Corp should benefit greatly from the strategic partnership as it moves to increase its market share. Shares of Alderon traded down by 7.88 percent closing at $1.52.