Newport Exploration Ltd. (CDX:NWX:CA) is amongst the weakest basic materials stocks listed on the TSX Venture Exchange through noon on September 22, with a fall of 2.08%. After closing the previous session at $0.24, shares of NWX:CA opened this morning at $0.235 and are currently trading at $0.235. At the lunch break, about 3,000 shares have changed hands, compared to an average 30-day volume of 28,408 for Newport Exploration Ltd.. Shares moved as high as $0.235 and as low as $0.235 in today’s morning action.
The share depreciation gives the company a market capitalization of $22.16 million based upon 92.33 million shares outstanding.
In the past 52 weeks, shares of Newport Exploration Ltd. have traded as low as $0.185 and as high as $0.38. Technical traders will take note that at $0.235, shares of NWX:CA are trading above their 50-day moving average (MA) at $0.223 and above their 200-day MA at above $0.202. 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 $Newport Expl?
Newport Exploration Ltd is an exploration stage company. It is engaged in the acquisition and exploration of resource properties. Its projects include Cooper Basin in Australia, and Chu Chua property in Canada. The company is led by its CEO Ian Rozier from its headquarters at 837 West Hastings Street.
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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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