Midday Alert: PMI Resources Ltd. (CDX:PMI:CA) Pressures TSX Venture Basic Materials Stocks with 1.92% Decline in Morning Trading on November 18
PMI Resources Ltd. (CDX:PMI:CA) is amongst the weakest basic materials stocks listed on the TSX Venture Exchange through noon on November 18, with a fall of 1.92%. After closing the previous session at $0.52, shares of PMI:CA opened this morning at $0.51 and are currently trading at $0.51. At the lunch break, about 15,417 shares have changed hands, compared to an average 30-day volume of 10,764 for PMI Resources Ltd.. Shares moved as high as $0.52 and as low as $0.51 in today’s morning action.
The share depreciation gives the company a market capitalization of $5.15 million based upon 9.91 million shares outstanding.
In the past 52 weeks, shares of PMI Resources Ltd. have traded as low as $0.35 and as high as $6.3. Technical traders will take note that at $0.51, shares of PMI:CA are trading below their 50-day moving average (MA) at $0.585 and above their 200-day MA at above $0.498. 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 $Petromanas E?
PMI Resources Ltd, formerly Petromanas Energy Inc, is an international oil and gas company. The Company is engaged in the acquisition, exploration and evaluation of oil and gas properties in Albania, France and Australia. The company is led by its CEO Glenn McNamara from its headquarters at 595 Burrard Street.
For more information on Petromanas E and other companies trading on the TSX Venture Exchange, as well as other Canadian and American stock exchanges, or to be considered for contributing content for our distribution network, visit FinancialPress.com today.
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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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Source: Financial Press News
(November 18, 2016 - 6:23 PM EST)
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