Northern Graphite Corporation (CDX:NGC:CA) is amongst the weakest basic materials stocks listed on the TSX Venture Exchange through noon on September 22, with a fall of 3.45%. After closing the previous session at $0.29, shares of NGC:CA opened this morning at $0.28 and are currently trading at $0.28. At the lunch break, about 25,000 shares have changed hands, compared to an average 30-day volume of 35,097 for Northern Graphite Corporation. Shares moved as high as $0.29 and as low as $0.28 in today’s morning action.
The share depreciation gives the company a market capitalization of $14.93 million based upon 51.48 million shares outstanding.
In the past 52 weeks, shares of Northern Graphite Corporation have traded as low as $0.16 and as high as $0.63. Technical traders will take note that at $0.28, shares of NGC:CA are trading below their 50-day moving average (MA) at $0.353 and below their 200-day MA at below $0.361. 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 $Nthern Graph?
Northern Graphite Corp is a mineral exploration and development company. The Company holds interest in the Bissett Creek graphite project located in eastern Ontario. The company is led by its CEO Gregory B. Bowes from its headquarters at 290 Picton Avenue.
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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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