The stock of Sierra Metals Inc (TSE:SMT) gapped up by $0.2 today and has $2.27 target or 8.00% above today’s $2.10 share price. The 8 months technical chart setup indicates low risk for the $319.15 million company. The gap was reported on Dec, 1 by Barchart.com. If the $2.27 price target is reached, the company will be worth $25.53M 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 31,586 shares traded hands or 407.24% up from the average. Sierra Metals Inc (TSE:SMT) has risen 9.58% since April 27, 2016 and is uptrending. It has outperformed by 3.66% the S&P500.
More notable recent Sierra Metals Inc (TSE:SMT) news were published by: Reuters.com which released: “BRIEF-Sierra Metals: Q3 total of 536553 tonnes processed; a 19% increase …” on October 17, 2016, also Reuters.com with their article: “BRIEF-Sierra Metals reports positive drill results at Esperanza deposit” published on October 24, 2016, Seekingalpha.com published: “Sierra Metals’ (DBEXF) CEO Mark Brennan on Q1 2016 Results – Earnings Call …” on May 13, 2016. More interesting news about Sierra Metals Inc (TSE:SMT) were released by: Marketwatch.com and their article: “/quotes/zigman/3870025/realtime” published on October 18, 2010 as well as Prnewswire.com‘s news article titled: “Sierra Metals reports consolidated financial results for the third quarter 2016” with publication date: November 14, 2016.
Sierra Metals Inc. is a Canada-based mining company. The company has a market cap of $319.15 million. The Firm is focused on the production, exploration and development of precious and base metals in Peru and Mexico. It currently has negative earnings. The Company’s divisions are Peru and Mexico.
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