In sliding 3.57%, Red Pine Exploration Inc. (CDX:RPX: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 $0.14, shares of RPX:CA opened this morning at $0.135 and closed the day at $0.135. Throughout the day, about 57,860 shares changed hands, compared to an average 30-day volume of 385,250 for Red Pine Exploration Inc.. Shares moved as high as $0.135 and as low as $0.135 in today’s trading action.
The share depreciation gives the company a market capitalization of $15.17 million based upon 108.37 million shares outstanding.
In the past 52 weeks, shares of Red Pine Exploration Inc. have traded as low as $0.03 and as high as $0.24. Technical traders will take note that at $0.135, shares of RPX:CA are trading above their 50-day moving average (MA) at $0.115 and below their 200-day MA at below $0.135. 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 $Red Pine?
Red Pine Exploration Inc is a Canadian exploration company engaged in the acquisition, exploration and development of mineral properties. Its project portfolio includes Cayenne, Butler-Yarie, Costello, Mt. Logano, and Moffatt. The company is led by its CEO Quentin Yarie from its headquarters at 141 Adelaide Street West.
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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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