Home / Market Movers / Fairmont Resources Inc. (CDX:FMR:CA) Advances 25.0% on February 16, Leads TSX Venture Basic Materials Sector

Fairmont Resources Inc. (CDX:FMR:CA) Advances 25.0% on February 16, Leads TSX Venture Basic Materials Sector

With an advance of 25.0%, Fairmont Resources Inc. (CDX:FMR:CA) was one of the best performing basic material stocks listed on the TSX Venture on February 16. After closing the previous session at $0.1, shares of FMR:CA opened this morning at $0.125 and closed the day at $0.125. Throughout the day, about 856,175 shares changed hands, compared to an average 30-day volume of 113,448 for Fairmont Resources Inc.. Shares moved as high as $0.14 and as low as $0.09 in today’s trading action.

The share appreciation gives the company a market capitalization of $3.56 million based upon 35.55 million shares outstanding.

In the past 52 weeks, shares of Fairmont Resources Inc. have traded as low as $0.03 and as high as $0.23. Technical traders will take note that at $0.125, shares of FMR:CA are trading above their 50-day moving average (MA) at $0.09 and above their 200-day MA at above $0.104. 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.

For more information on Fairmont and other companies trading on the TSX Venture Exchange, as well as other Canadian and American stock exchanges, or to be considered for contributing content for our distribution network, visit FinancialPress.com today.

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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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