The stock of Merrex Gold Inc (CVE:MXI) hit a new 52-week high and has $0.54 target or 115.00% above today’s $0.25 share price. The 5 months bullish chart indicates low risk for the $48.29M company. The 1-year high was reported on May, 4 by Barchart.com. If the $0.54 price target is reached, the company will be worth $55.53 million more. The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock is 0.00% or $0 after the news, hitting $0.25 per share. It is up 6.00% since April 4, 2016 and is uptrending. It has underperformed by 3.65% the S&P500.
Merrex Gold Inc. is a junior mineral exploration company. The company has a market cap of $48.29 million. The Firm is engaged in the business of acquiring, exploring and evaluating natural resource properties, and either joint venturing or developing these properties further or disposing of them when the evaluation has been completed. It currently has negative earnings. The Company’s primary assets are its gold properties in West Mali, Africa and its Karita exploration authorization in Guinea and its zinc-lead properties in Nova Scotia, Canada (the Jubilee Project).
https://www.bibeypost.com/it-seems-merrex-gold-inc-will-go-up-just-reaches-52-week-high/