With an advance of 12.5%, Vulcan Minerals Inc. (CDX:VUL:CA) was one of the best performing basic material stocks listed on the TSX Venture on February 16. After closing the previous session at $0.04, shares of VUL:CA opened this morning at $0.045 and closed the day at $0.045. Throughout the day, about 19,000 shares changed hands, compared to an average 30-day volume of 14,000 for Vulcan Minerals Inc.. Shares moved as high as $0.045 and as low as $0.045 in today’s trading action.
The share appreciation gives the company a market capitalization of $2.34 million based upon 58.53 million shares outstanding.
In the past 52 weeks, shares of Vulcan Minerals Inc. have traded as low as $0.015 and as high as $0.08. Technical traders will take note that at $0.045, shares of VUL:CA are trading below their 50-day moving average (MA) at $0.045 and above their 200-day MA at above $0.039. 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 $Vulcan Mnrls?
Vulcan Minerals Inc is engaged in the evaluation, acquisition and exploration of mineral and petroleum & natural gas properties in Newfoundland and Labrador. Its projects include Lizard Pond, Colchester Project, and Tasisuak Lake Nickel Property. The company is led by its CEO Patrick J. Laracy from its headquarters at 333 Duckworth 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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