Shares of Xinergy Ltd. (TSX: XRG), a junior coal
provider, experienced strong upward share price momentum after rallying more
than 11% during the past two consecutive trading days with a significant number
of shares exchanging hands. In the last trading session, XRG was among the top gainers in the Canadian energy space after climbing 11.8% and ended at C$0.43 while recording huge volumes of 139,012 shares. During the last 5-trading sessions, XRG gained 34.9% with 5-day average trading volumes of 62,587 shares, while the stock accumulated over 55% during the past one month with daily average trading volumes of 74,769 shares. We note that the stock has provided returns of over 41% year-to-date.
Company Description:
Xinergy Ltd. (TSX: XRG) mines bituminous steam coal in the central Appalachia region. The company currently has operations in Kentucky, West Virginia, and Alabama with permits in place.
1-Year Stock Chart:
Source: Bloomberg
