The stock of Nighthawk Gold Corp (CVE:NHK) hit a new 52-week high and has $1.69 target or 191.00% above today’s $0.58 share price. The 9 months bullish chart indicates low risk for the $74.04 million company. The 1-year high was reported on Sep, 13 by Barchart.com. If the $1.69 price target is reached, the company will be worth $141.42M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.51M shares traded hands or 266.03% up from the average. Nighthawk Gold Corp (CVE:NHK) has risen 6.00% since August 14, 2016 and is uptrending. It has underperformed by 10.49% the S&P500.
Nighthawk Gold Corp., formerly known as Merc International Minerals Inc., is an exploration company. The company has a market cap of $74.04 million. The Firm is engaged in the identification, acquisition, exploration and evaluation of gold properties in the Northwest Territories. It currently has negative earnings. The Company’s land position covers approximately 222,200 acres in the Indin Lake Gold Camp, which is located over 200 kilometers north of Yellowknife, Northwest Territories.
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