Tanzanian Royalty Exploration Corporation (NYSEMKT:TRX) : Traders are bullish on Tanzanian Royalty Exploration Corporation (NYSEMKT:TRX) as it has outperformed the S&P 500 by a wide margin of 128.23% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 43.49%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 45.33% in the last 1 week, and is up 131.92% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The company shares have rallied 165.85% from its 1 Year high price. On Jul 6, 2016, the shares registered one year high at $1.32 and the one year low was seen on Feb 5, 2016. The 50-Day Moving Average price is $0.55 and the 200 Day Moving Average price is recorded at $0.37.
The stock has recorded a 20-day Moving Average of 82.89% and the 50-Day Moving Average is 111.4%.
Tanzanian Royalty Exploration Corporation (NYSEMKT:TRX): stock turned positive on Friday. Though the stock opened at $0.95, the bulls momentum made the stock top out at $1.09 level for the day. The stock recorded a low of $0.95 and closed the trading day at $1.09, in the green by 14.71%. The total traded volume for the day was 725,346. The stock had closed at $0.9502 in the previous days trading.
Tanzanian Royalty Exploration Corporation is engaged in the exploration and development of mineral property interests. The Companys mineral properties are located in United Republic of Tanzania. Its subsidiaries include Tanzania American International Development Corporation 2000 Limited (Tanzam), Tancan Mining Co. Limited (Tancan), Buckreef Gold Company Ltd. (Buckreef) and Northwestern Base Metals Company Limited (NWBM). The Company explores or acquires gold or other precious metal concessions through its own efforts or through the efforts of its subsidiaries. The Companys mineral interests in Tanzania are initially held under prospecting licenses granted pursuant to the Mining Act, 2010 (Tanzania) for a period of up to four years, and are renewable two times for a period of up to two years each. Through its wholly-owned subsidiary, Tanzam, the Company holds a 55% interest in the joint venture company, Buckreef Gold Company Limited, with Stamico holding the remaining 45%.