With an advance of 4.55%, Para Resources Inc. (CDX:PBR:CA) was one of the best performing basic material stocks listed on the TSX Venture on February 16. After closing the previous session at $0.22, shares of PBR:CA opened this morning at $0.23 and closed the day at $0.23. Throughout the day, about 76,500 shares changed hands, compared to an average 30-day volume of 86,296 for Para Resources Inc.. Shares moved as high as $0.23 and as low as $0.225 in today’s trading action.
The share appreciation gives the company a market capitalization of $23.23 million based upon 105.59 million shares outstanding.
In the past 52 weeks, shares of Para Resources Inc. have traded as low as $0.1 and as high as $0.355. Technical traders will take note that at $0.23, shares of PBR:CA are trading above their 50-day moving average (MA) at $0.215 and below their 200-day MA at below $0.235. 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 $Para Res Inc?
Para Resources Inc is a Gold mining company engaged in acquisition, exploration and development of mineral properties. Its project portfolio consists of El Limon, Colombia and Tucuma gold project, Brazil. The company is led by its CEO C. Geoffrey Hampson from its headquarters at 450-1090 Georgia 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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