What’s Propelling First Mining Finance Corp to Increase So Much? The Stock Gaps Up Today

 What's Propelling First Mining Finance Corp to Increase So Much? The Stock Gaps Up Today

The stock of First Mining Finance Corp (CVE:FF) gapped up by $0.02 today and has $2.33 target or 177.00% above today’s $0.84 share price. The 8 months technical chart setup indicates low risk for the $463.97M company. The gap was reported on Nov, 9 by Barchart.com. If the $2.33 price target is reached, the company will be worth $821.23 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 556,247 shares traded hands. First Mining Finance Corp (CVE:FF) has risen 6.00% since October 10, 2016 and is uptrending. It has outperformed by 1.22% the S&P500.

More notable recent First Mining Finance Corp (CVE:FF) news were published by: Prnewswire.com which released: “First Mining Finance Corp. Presentation Now Available for On-Demand Viewing” on October 06, 2016, also Prnewswire.com with their article: “First Mining Finance Corp. to Webcast at VirtualInvestorConferences.com’s …” published on September 28, 2016, Seekingalpha.com published: “First Mining Finance Is Building A Mineral Bank” on September 25, 2015. More interesting news about First Mining Finance Corp (CVE:FF) were released by: Bloomberg.com and their article: “Elliott-Backed Triple Flag Lining Up First Mining Finance Deals” published on August 27, 2016 as well as Prnewswire.com‘s news article titled: “OTC Markets Group Welcomes First Mining Finance Corp. to OTCQX” with publication date: May 20, 2016.

First Mining Finance Corp., formerly Albion Petroleum Ltd., is a mineral property holding firm whose principal business activity is to acquire mineral assets with a focus in the Americas. The company has a market cap of $463.97 million. The Firm holds a portfolio of over 30 mineral assets in Canada, Mexico and the United States with a focus on gold. It currently has negative earnings. It has going exploration programs for gold, silver, lead, zinc and copper funded through the sale of equity and joint venture partnerships.

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