In sliding 2.78%, Darnley Bay Resources Limited (CDX:DBL:CA) was one of the worst performing stocks amongst TSX Venture Exchange-listed basic materials companies on January 13. After closing the previous session at $0.36, shares of DBL:CA opened this morning at $0.35 and closed the day at $0.35. Throughout the day, about 139,035 shares changed hands, compared to an average 30-day volume of 217,088 for Darnley Bay Resources Limited. Shares moved as high as $0.37 and as low as $0.35 in today’s trading action.
The share depreciation gives the company a market capitalization of $41.93 million based upon 116.46 million shares outstanding.
In the past 52 weeks, shares of Darnley Bay Resources Limited have traded as low as $0.01 and as high as $0.5. Technical traders will take note that at $0.35, shares of DBL:CA are trading above their 50-day moving average (MA) at $0.313 and above their 200-day MA at above $0.172. 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 $Darnley Bay?
Darnley Bay Resources Ltd is engaged in the exploration for metals and diamonds in the Northwest Territories and Quebec, Canada. It has two project areas near Paulatuk, Northwest Territories and a third project in the James Bay area of Quebec. The company is led by its CEO Jamie Levy from its headquarters at 365 Bay 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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