With an advance of 21.05%, Fairmont Resources Inc. (CDX:FMR:CA) was one of the best performing basic material stocks listed on the TSX Venture on January 13. After closing the previous session at $0.095, shares of FMR:CA opened this morning at $0.115 and closed the day at $0.115. Throughout the day, about 453,300 shares changed hands, compared to an average 30-day volume of 119,150 for Fairmont Resources Inc.. Shares moved as high as $0.13 and as low as $0.1 in today’s trading action.
The share appreciation gives the company a market capitalization of $3.17 million based upon 33.41 million shares outstanding.
In the past 52 weeks, shares of Fairmont Resources Inc. have traded as low as $0.02 and as high as $0.23. Technical traders will take note that at $0.115, shares of FMR:CA are trading above their 50-day moving average (MA) at $0.072 and above their 200-day MA at above $0.1. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move above them or holding over them is typically regarded as bullish.
Who is $Fairmont?
Fairmont Resources Inc is engaged in the acquisition, exploration and development of exploration and evaluation assets. It projects includes Lac Elan Property, Buttercup Property, Hearth Property, Lac Bouchette Property, and Houghton Creek Property. The company is led by its CEO Michael Alexander Dehn from its headquarters at 789 West Pender 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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