Time to Buy Auryn Resources Inc After Reaching 52-Week Low?

 Time to Buy Auryn Resources Inc After Reaching 52 Week Low?

The stock of Auryn Resources Inc (TSE:AUG) hit a new 52-week low and has $2.28 target or 3.00% below today’s $2.35 share price. The 6 months bearish chart indicates high risk for the $147.68 million company. The 1-year low was reported on Nov, 22 by Barchart.com. If the $2.28 price target is reached, the company will be worth $4.43 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 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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