The stock of Luna Gold Corp (TSE:LGC) hit a new 52-week high and has $3.56 target or 32.00% above today’s $2.70 share price. The 5 months bullish chart indicates low risk for the $1.07 billion company. The 1-year high was reported on Nov, 7 by Barchart.com. If the $3.56 price target is reached, the company will be worth $342.40 million 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 60,848 shares traded hands or 220.25% up from the average. Luna Gold Corp (TSE:LGC) has risen 116.67% since April 1, 2016 and is uptrending. It has outperformed by 114.71% the S&P500.
More notable recent Luna Gold Corp (TSE:LGC) news were published by: Investingnews.com which released: “Luna Gold Corp. Announces Filing of NI 43-101 Technical Report” on October 03, 2016, also Marketwired.com with their article: “Luna Gold Corp Provides 2014 Guidance and Phase I Expansion Update” published on January 28, 2014, Marketwired.com published: “Luna Gold Announces Closing of Previously Announced Private Placement Financing” on August 29, 2016. More interesting news about Luna Gold Corp (TSE:LGC) were released by: Marketwired.com and their article: “Luna Gold Announces Increase in Previously Announced Private Placement Financing” published on August 16, 2016 as well as Marketwired.com‘s news article titled: “Luna Gold Announces the Retirement of John Blake and the Appointment of Geoff …” with publication date: March 24, 2014.
Luna Gold Corp. is engaged in the exploration, development and operation of gold properties in Brazil. The company has a market cap of $1.07 billion. The Company’s properties and mining activities are located in the state of Maranhao in Brazil. It currently has negative earnings. The Firm is involved in the exploration and redevelopment of its Aurizona gold mine .
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