With an advance of 9.52%, Rainy Mountain Royalty Corp. (CDX:RMO:CA) was one of the best performing basic material stocks listed on the TSX Venture on February 16. After closing the previous session at $0.105, shares of RMO:CA opened this morning at $0.115 and closed the day at $0.115. Throughout the day, about 456,900 shares changed hands, compared to an average 30-day volume of 266,703 for Rainy Mountain Royalty Corp.. Shares moved as high as $0.115 and as low as $0.11 in today’s trading action.
The share appreciation gives the company a market capitalization of $2.88 million based upon 27.43 million shares outstanding.
In the past 52 weeks, shares of Rainy Mountain Royalty Corp. have traded as low as $0.025 and as high as $0.18. Technical traders will take note that at $0.115, shares of RMO:CA are trading below their 50-day moving average (MA) at $0.12 and above their 200-day MA at above $0.078. 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 $Rainy Mount?
Rainy Mountain Royalty Corp is an exploration stage company. It is engaged in exploration and development of mineral resource properties. Its projects include Marshall Lake property, Max property, Norton Lake property, among others. The company is led by its CEO Douglas L. Mason from its headquarters at 2489 Bellevue 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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