Noranda Aluminum down 7.8%, shares slide into the Red

Noranda Aluminum is one of today's worst performing low-priced stocks, down 7.8% to $2.37 on 1.1x average daily volume. Thus far today, Noranda Aluminum has traded 409,000 shares, vs. average volume of 376,000 shares per day. The stock has underperformed the Dow (-7.8% to the Dow's -0.5%) and underperformed the S&P 500 (-7.8% to the S&P's -0.2%) during today's trading.

Noranda Aluminum Holding Corp is an integrated producer of aluminum products, as well as rolled aluminum coils. The Company produces aluminum products in the form of billets, rods and sows, used mainly for building construction, architectural and transportation applications. Noranda also produces foil and light gauge sheet products from its rolling mills.

In the past 52 weeks, shares of Noranda Aluminum have traded between a low of $2.21 and a high of $6.85 and are now at $2.37, which is 7% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has slid 1%.

Noranda Aluminum has overhead space with shares priced $2.37, or 28.0% below the average consensus analyst price target of $3.29. The stock should run into initial resistance at its 50-day moving average (MA) of $2.67 and subsequent resistance at its 200-day MA of $3.35.

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