The stock of Auryn Resources Inc (TSE:AUG) reached all time low today, Nov, 22 and still has $2.16 target or 8.00% below today’s $2.35 share price. This indicates more downside for the $147.68 million company. This technical setup was reported by Barchart.com. If the $2.16 PT is reached, the company will be worth $11.81 million less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. About 214,649 shares traded hands or 178.18% up from the average. Auryn Resources Inc (TSE:AUG) has risen 6.00% since October 23, 2016 and is uptrending. It has outperformed by 1.44% the S&P500.
More important recent Auryn Resources Inc (TSE:AUG) news were published by: Marketwired.com which released: “Auryn Resources to Acquire Homestake Resource Corporation” on June 14, 2016, also Marketwatch.com published article titled: “Auryn Resources Commences Work on Peruvian Portfolio”, Marketwired.com published: “Auryn Resources Completes Acquisition of Homestake Resource Corp.” on September 08, 2016. More interesting news about Auryn Resources Inc (TSE:AUG) was released by: Marketwatch.com and their article: “Auryn Resources Options Huilacollo Gold Project and Expands Land Position in …” with publication date: June 02, 2016.
Auryn Resources Inc., formerly Georgetown Capital Corp., is a junior exploration company. The company has a market cap of $147.68 million. The Firm is focused on the acquisition, exploration and development of mineral resource properties. It currently has negative earnings. The Firm holds interest in the Committee Bay Project in Nunavut, Canada.
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