With an advance of 13.33%, Search Minerals Inc. (CDX:SMY:CA) was one of the best performing basic material stocks listed on the TSX Venture on February 16. After closing the previous session at $0.075, shares of SMY:CA opened this morning at $0.085 and closed the day at $0.085. Throughout the day, about 7,000 shares changed hands, compared to an average 30-day volume of 44,284 for Search Minerals Inc.. Shares moved as high as $0.085 and as low as $0.085 in today’s trading action.
The share appreciation gives the company a market capitalization of $10.97 million based upon 146.22 million shares outstanding.
In the past 52 weeks, shares of Search Minerals Inc. have traded as low as $0.045 and as high as $0.1. Technical traders will take note that at $0.085, shares of SMY:CA are trading above their 50-day moving average (MA) at $0.069 and above their 200-day MA at above $0.073. 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 $Search Mnrls?
Search Minerals Inc is engaged in mineral exploration involving acquiring, exploring and evaluating mineral resource properties. The company is led by its CEO Greg Andrews from its headquarters at 901 West 3rd 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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