REX American Resources Adds 16% In Pre-market As Earnings Jump

(RTTNews) - Shares of REX American Resources Corporation (REX) are rising more than 16 percent in pre-market on Thursday to $50.95, after reporting better fourth-quarter profit than last year.

The producer and retailer of ethanol posted earnings of $20.57 million, or $1.16 per share for the fourth quarter, significantly higher than $8.16 million, or $0.47 per share in the same quarter a year ago, primarily helped by lower cost of sales.

Revenue for the quarter fell 6.3% to $187.61 million from $200.17 million last year, mainly due to lower product pricing.

REX American Resources shares had closed at $43.92, up 0.27 percent on Wednesday. The stock has been trading in the range of $27.47 - $51.19 in the last 1 year.