The Canadian stocks we’ve dug up have seen an average volume increase of over 300,000 shares when comparing the 14-day average volume with the 90-day average volume
SmallCapPower | January 7, 2019: Technical Analysts use volume as an important indicator to identify the confirmation of a trend or a trend reversal. This is because trading volume help can give analysts an idea if there is momentum behind a stock. When share prices increase and volume moves in the same direction, (i.e. a stock’s price is rising on increasing volume) it is seen as positive because the stock has momentum. It could also be an indication that smart money is coming into the stock following an unexpected development, or in anticipation of news. Today we have discovered four Canadian stocks with the largest volume increases over the last two weeks by comparing the absolute change between the average 90-day trading volume with the average 14-day trading volume.
*Share price data as at January 3, 2019, data obtained from S&P Capital IQ
Nevada Copper Corp. (TSX:NCU) – $0.35
Nevada Copper is a junior mining company, which is engaged in the exploration, and development of, copper and other mineral properties in Nevada. The Company currently explores for copper, gold, silver, and iron ore. Nevada Copper’s flagship project is the Pumpkin Hollow property in western Nevada. In December, NCU announced that it had shipped the first copper concentrate from Pumpkin Hollow. This follows a press release announcing that it had commenced production at Pumpkin Hollow’s processing plant on December 16 and expects to be at full commercial production by mid-2020.
- Market Cap: $262.9M
- YTD-Return: -8.2%
- 30-Day Return: +21.8%
- 14-Day Average Trading Volume: 1,115,930
- 90-Day Average Trading Volume: 787,910
Athabasca Oil Corporation (TSX:ATH) – $0.61
Oil and Gas
Athabasca Oil engages in the exploration, development, and production of oil properties in the Alberta oil sands. Athabasca’s principal properties include: the Kaybob and Placid assets located in northwestern Alberta; and the Leismer and Hangingstone assets located in northeastern Alberta. The Company holds approximately 1.3M net acres of mineral resource leases and permits. For the first nine months of 2019, Athabasca had consolidated oil production of 35,257 barrel equivalents per day (boe/d). For the fourth quarter 2019, Athabasca is anticipating production of ~36,000 boe/d.
- Market Cap: $319.3M
- YTD-Return: +3.4%
- 30-Day Return: +58.4%
- 14-Day Average Trading Volume: 1,456,830
- 90-Day Average Trading Volume: 1,132,870
First Mining Gold Corp. (TSX:FF) – $0.26
First Mining Gold develops and explores for gold, copper, and iron projects in North America. The Company’s portfolio consists of 25 projects covering an area of ~300,000 hectares located in eastern Canada, Mexico, and the U.S. Back in August, FF signed an option agreement with Gainey Capital, granting Gainey the right to earn a 100% interest in First Mining’s Las Margaritas Gold Property (“Las Margaritas”) located in the State of Durango, Mexico for stock and cash payments and a 2% royalty on net smelter terms, with Gainey having the right to buy back 1% of the NSR royalty for USD$1,000,000 up until the first anniversary of the commencement of commercial production at the property.
- Market Cap: $153.9M
- YTD-Return: +5.9%
- 30-Day Return: +20.0%
- 14-Day Average Trading Volume: 840,450
- 90-Day Average Trading Volume: 526,430
Equinox Gold Corp. (TSX:EQX) – $9.70
Equinox Gold is a Canada-based company that focuses on the acquisition, exploration and development of gold, copper, and silver deposits. The Company has its 100%-owned, producing open pit Mesquite Gold Mine in California, a 100%-owned commissioning-stage open pit Aurizona Gold Mine in Maranhão, Brazil, and a 100%-owned pre-feasibility stage heap leach Castle Mountain Gold Mine in California. The Company produced 25,310 ounces of gold at Mesquite in Q1/19. As well in Q1/19, the Company had a total cash cost of $766/oz, and an all-in-sustaining cost of $873/oz. On December 16, Equinox announced that it and Leagold Mining (TSX:LMC) had agreed to merge, with Leagold shareholders receiving 0.331 Equinox shares for each share of Leagold. The merger is expected to create a 700K oz/Au producer and a 1M oz/Au producer by F2021.
- Market Cap: $1,100.4M
- YTD-Return: +1.3%
- 30-Day Return: +28.4%
- 14-Day Average Trading Volume: 555,630
- 90-Day Average Trading Volume: 248,490
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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