In sliding 27.27%, Highway 50 Gold Corp. (CDX:HWY: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 $0.22, shares of HWY:CA opened this morning at $0.16 and closed the day at $0.16. Throughout the day, about 10,000 shares changed hands, compared to an average 30-day volume of 3,033 for Highway 50 Gold Corp.. Shares moved as high as $0.165 and as low as $0.16 in today’s trading action.
The share depreciation gives the company a market capitalization of $6.04 million based upon 27.45 million shares outstanding.
In the past 52 weeks, shares of Highway 50 Gold Corp. have traded as low as $0.05 and as high as $0.245. Technical traders will take note that at $0.16, shares of HWY:CA are trading below their 50-day moving average (MA) at $0.171 and below their 200-day MA at below $0.208. 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 $Highway 50 G?
Highway 50 Gold Corp is a mineral exploration company. It is engaged in the acquisition and exploration of assets and evaluation of mineral properties in British Columbia and USA. The company is led by its CEO Gordon Leask from its headquarters at 1177 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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