Today we feature Nautilus Minerals Inc (TSX: NUS), a junior precious metal miner, as the top momentum gainer since the stock jumped more than 20% during the last two consecutive trading days with a significant increase in shares exchanging hands. NUS was the top performer in the Canadian diversified mining sector after gaining 39.6% in the last trading session and closing at its 52-week high of C$0.67 while recording significant volume of 4.3 million shares. During the past 5-trading sessions, NUS gained 204.5% with daily average trading volumes of 2.65 million shares compared to 1-month daily average trading volumes of 510,646 shares. So far this year, the stock has provided a return of over 179%. The strong momentum is witnessed in the stock after NUS reported that it has signed an agreement with State of Papua New Guinea, enabling the company to start production at its Solwara 1 underwater copper mining project. Under the agreement, the government is entitled to a 15% stake in the project and has the option to increase this by another 15% in the next 12 months.
Company Description:
Nautilus Minerals Inc (TSX: NUS), explores for gold and copper in Mexico. The company operates in Sinaloa and Oaxaca states.
1-Year Stock Chart:
Source: Bloomberg
