News Column

Metminco Shares Fall Back As Company Says It Doesn't Know Reason For Rally

May 9, 2014

Steve McGrath

LONDON (Alliance News) - Copper and gold miner Metminco Ltd Friday said it didn't know why its shares had jumped and trading volumes increased recently, causing its stock to fall back on AIM.

In a statement, the company said only that it was aware that Patersons Securities had published a research note on the company with a "Speculative Buy" recommendation on May 5.

It said it had received a letter from the ASX querying its recent share price movement and trading volumes.

Metminco's shares on AIM jumped Thursday, closing at 1.49 pence after opening at 1.349 pence. However, the stock was down 15.8% at 1.246 pence Friday morning after Metminco put out its statement.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Alliance News