In sliding 2.27%, California Gold Mining Inc. (CDX:CGM:CA) was one of the worst performing stocks in the miscellaneous sector of the TSX Venture Exchange on February 16. After closing the previous session at $0.44, shares of CGM:CA opened this morning at $0.43 and closed the day at $0.43. Throughout the day, about 25,000 shares changed hands, compared to an average 30-day volume of 29,078 for California Gold Mining Inc.. Shares moved as high as $0.45 and as low as $0.43 in today’s trading action.
The share depreciation gives the company a market capitalization of $14.16 million based upon 32.18 million shares outstanding.
In the past 52 weeks, shares of California Gold Mining Inc. have traded as low as $0.37 and as high as $0.8. Technical traders will take note that at $0.43, shares of CGM:CA are trading below their 50-day moving average (MA) at $0.463 and below their 200-day MA at below $0.575. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move beneath or holding under them is typically regarded as bearish.
Who is $California G?
California Gold Mining Inc is a junior exploration company engaged in the acquisition, exploration and development of mineral resource properties. Its projects include Dingman Property and Fremont Property. The company is led by its CEO Vishal Gupta from its headquarters at 130 King St. W.
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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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