With an advance of 4.17%, GFK Resources Inc. (CDX:GFK:CA) was one of the best performing basic material stocks listed on the TSX Venture on February 16. After closing the previous session at $0.12, shares of GFK:CA opened this morning at $0.125 and closed the day at $0.125. Throughout the day, about 22,500 shares changed hands, compared to an average 30-day volume of 4,375 for GFK Resources Inc.. Shares moved as high as $0.125 and as low as $0.11 in today’s trading action.
The share appreciation gives the company a market capitalization of $5.96 million based upon 49.64 million shares outstanding.
In the past 52 weeks, shares of GFK Resources Inc. have traded as low as $0.05 and as high as $0.18. Technical traders will take note that at $0.125, shares of GFK:CA are trading above their 50-day moving average (MA) at $0.102 and above their 200-day MA at above $0.121. 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 $GFK Res Inc.?
GFK Resources Inc is an exploration stage company. The Company is engaged in acquisition and exploration of exploration and evaluation assets in Canada. The company is led by its CEO Louis Morin from its headquarters at 14-3650 Hammonds Plains Road.
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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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