Home / Market Movers / Midday Alert: Gem International Resources Inc. (CDX:GI:CA) Pressures TSX Venture Basic Materials Stocks with 8.7% Decline in Morning Trading on September 22

Midday Alert: Gem International Resources Inc. (CDX:GI:CA) Pressures TSX Venture Basic Materials Stocks with 8.7% Decline in Morning Trading on September 22

Gem International Resources Inc. (CDX:GI:CA) is amongst the weakest basic materials stocks listed on the TSX Venture Exchange through noon on September 22, with a fall of 8.7%. After closing the previous session at $0.115, shares of GI:CA opened this morning at $0.105 and are currently trading at $0.105. At the lunch break, about 241,000 shares have changed hands, compared to an average 30-day volume of 110,591 for Gem International Resources Inc.. Shares moved as high as $0.115 and as low as $0.105 in today’s morning action.

The share depreciation gives the company a market capitalization of $4.61 million based upon 40.07 million shares outstanding.

In the past 52 weeks, shares of Gem International Resources Inc. have traded as low as $0.035 and as high as $0.15. Technical traders will take note that at $0.105, shares of GI:CA are trading below their 50-day moving average (MA) at $0.128 and above their 200-day MA at above $0.081. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move beneath or holding under them is typically regarded as bearish.

Who is $Gem Intl?

Gem International Resources Inc is engaged in the acquisition, exploration and development of mineral properties including diamond, gold and other precious metals. The company is led by its CEO Simon Tam from its headquarters at 3467 Commercial Street.


For more information on Gem Intl and other companies trading on the TSX Venture Exchange, as well as other Canadian and American stock exchanges, or to be considered for contributing content for our distribution network, visit FinancialPress.com today.

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About the TSX Venture Exchange

Owned and operated by the TMX Group, the TSX Venture Exchange is a public venture capital marketplace for emerging companies. It is headquartered in Calgary, Alberta, Canada with offices in Toronto, Vancouver and Montreal. All trading on the exchange is done electronically. Originally established in 1999, the “Venture,” as it is often shortened, was previously known as the Canadian Venture Exchange, but renamed in 2001 subsequent to the TSX Group (now known as the TMX Group) purchasing it.

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