Northern Shield Resources (CVE:NRN) Shares Up 30% – Still a Buy?
by Michael Walen · The Markets DailyNorthern Shield Resources Inc. (CVE:NRN – Get Free Report)’s share price rose 30% during mid-day trading on Wednesday . The stock traded as high as C$0.07 and last traded at C$0.07. Approximately 278,000 shares traded hands during trading, an increase of 74% from the average daily volume of 159,766 shares. The stock had previously closed at C$0.05.
Northern Shield Resources Trading Up 30.0%
The firm’s fifty day simple moving average is C$0.05 and its two-hundred day simple moving average is C$0.07. The company has a market capitalization of C$8.80 million, a price-to-earnings ratio of -6.50 and a beta of 0.05.
About Northern Shield Resources
Northern Shield Resources Inc, a natural resource company, engages in identifying, acquiring, and exploring mineral properties primarily in Eastern Canada. It primarily explores for nickel, copper, gold, silver, and platinum group elements. The company holds 100% interest in the Merasheen property with 99 claims covering an area of 25 square kilometers located at the southern end of Merasheen Island in Placentia Bay, Newfoundland; 100% interests in the Huckleberry property comprising 52 claims with an area of 25 square kilometers located in north of Schefferville, Quebec; and 100% interests in the Idefix property with 40 claims covering an area of 18 square kilometers located in Labrador Trough, Québec.