Ferrexpo (LON:FXPO) Upgrade Bullish for Sector
Point Roberts WA- September 28, 2011 (Investorideas.com Mining Newswire) – www.Investorideas.com, a leader in sector research for investors including mining and resource stocks, issues a trading alert for small and large cap iron ore and steel stocks.
Ferrexpo (LSE: FXPO.L ) received bullish commentary from Asa Bridle, analyst at Seymour Pierce recommending the stock as a buy with an upgrade on the target
price of 503 pence (current price: 302.4 pence). In terms of the overall industry, he said "(The) long term themes of urbanisation, industrialization and rural area development are expected to see China account for the largest share of the trade in the global iron ore market for the foreseeable future."
TurkPower Corporation (OTCBB:TRKP) closed at $0.20. TurkPower's focus is on the Turkish mining industry, where it plans to become a leader in developing, operating and owning base metal mines, by acquiring and consolidating operational mines with proven reserves, utilizing economies of scale to increase returns as well as developing new mining assets.
Adriana Resources Inc. (TSX.V:ADI) surged 0.020 (2.27%) to $0.90. The stock is continuing gains in Wednesday morning’s trading session. According to the company, its vision is to become a fully integrated iron ore producer through continued development of its iron ore port facility in Brazil, through acquisition of iron ore mineral resources in Brazil, and the advancement of its iron ore projects in Québec, Canada.
LEGACY IRON (ASX: LCY.AX ) gained 0.01 (4.55%) to $0.12 with more than 2.50 million shares trading hands. Last week, India's National Mineral Development Corp (NMDC) has agreed to acquire a 50 percent stake in Australian iron ore and gold explorer Legacy Iron Ore for almost A$19 million ($19 million).
Rio Tinto plc (NYSE:RIO) ended the day with a gain of $1.63 (3.44%) to close at $49.01. Anglo-Australian mining giant Rio Tinto and Russian fertilizer producer Acron signed an agreement Tuesday to create a joint venture to explore potash and potentially build mines together in Canada.
AK Steel Holding Corporation (NYSE:AKS) ended the day with a gain of 0.25 (3.57%) at $7.26.
Steel Dynamics, Inc. (NASDAQ:STLD) jumped 0.17 (1.58%) to close at $10.93.
United States Steel Corporation(NYSE:X) ended the day higher by 0.60 (2.58%) to $23.88.
Showcase Iron Ore Stock:
TurkPower Corporation (OTCBB:TRKP) is a Turkish-American junior mining company that is acquiring controlling ownership in an operational iron ore mine and several mining projects under development in Turkey. TurkPower's sole focus is on the booming Turkish mining industry, where it aims to become a leader in developing, operating and owning base metal mines by acquiring and consolidating operational mines with proven reserves, utilizing economies of scale to increase returns as well as developing new mining assets. TurkPower's board of directors, management team and employees have extensive experience and relations in the Turkish mining industry, as well as ongoing relations with the relevant government agencies, allowing TurkPower to participate in the major opportunities currently developing in Turkey.
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