With an advance of 5.45%, Hemisphere Energy Corporation (CDX:HME:CA) was one of the best performing basic material stocks listed on the TSX Venture on February 16. After closing the previous session at $0.275, shares of HME:CA opened this morning at $0.29 and closed the day at $0.29. Throughout the day, about 637,000 shares changed hands, compared to an average 30-day volume of 212,325 for Hemisphere Energy Corporation. Shares moved as high as $0.29 and as low as $0.275 in today’s trading action.
The share appreciation gives the company a market capitalization of $23.58 million based upon 85.75 million shares outstanding.
In the past 52 weeks, shares of Hemisphere Energy Corporation have traded as low as $0.075 and as high as $0.305. Technical traders will take note that at $0.29, shares of HME:CA are trading above their 50-day moving average (MA) at $0.211 and above their 200-day MA at above $0.189. 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 $Hemisphere?
Hemisphere Energy Corp is an oil and gas exploration and production company. It is engaged in production in the Jenner and Atlee Buffalo areas of southeast Alberta, Wainwright in Alberta and the Trutch area of northeast British Columbia. The company is led by its CEO Don Simmons from its headquarters at 1055 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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