The stock of Front Range Resources Ltd (CVE:FRK) hit a new 52-week low and has $0.68 target or 13.00% below today’s $0.78 share price. The 9 months bearish chart indicates high risk for the $17.40 million company. The 1-year low was reported on Sep, 13 by Barchart.com. If the $0.68 price target is reached, the company will be worth $2.26 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 163,000 shares traded hands or 246.48% up from the average. Front Range Resources Ltd (CVE:FRK) has risen 6.00% since August 14, 2016 and is uptrending. It has underperformed by 10.49% the S&P500.
Front Range Resources Ltd, formerly Stonehaven Exploration Ltd, is an exploration and production company. The company has a market cap of $17.40 million. The Firm has petroleum and natural gas interests in Alberta, Canada. It currently has negative earnings. The Firm holds approximately 20 gross sections (9.1 net sections) of P&NG rights at Bigstone, Fir and Wilson Creek, located in Alberta.
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