With an advance of 4.0%, Sage Gold Inc. (CDX:SGX:CA) was one of the best performing basic material stocks listed on the TSX Venture on January 13. After closing the previous session at $0.125, shares of SGX:CA opened this morning at $0.13 and closed the day at $0.13. Throughout the day, about 63,023 shares changed hands, compared to an average 30-day volume of 99,725 for Sage Gold Inc.. Shares moved as high as $0.13 and as low as $0.12 in today’s trading action.
The share appreciation gives the company a market capitalization of $8.43 million based upon 67.47 million shares outstanding.
In the past 52 weeks, shares of Sage Gold Inc. have traded as low as $0.035 and as high as $0.16. Technical traders will take note that at $0.13, shares of SGX:CA are trading below their 50-day moving average (MA) at $0.13 and above their 200-day MA at above $0.097. 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 $Sage Gld?
Sage Gold Inc is engaged in the acquisition, exploration and development of mineral properties in Canada. Its properties include Onaman Property, Beardmore/Geraldton Properties and Clavos Project. The company is led by its CEO C. Lees from its headquarters at 200 University 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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