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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