BANRO CORPORATION (BAA) : Traders are bullish on BANRO CORPORATION (BAA) as it has outperformed the S&P 500 by a wide margin of 50.09% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 18.26%, 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 20.03% in the last 1 week, and is up 56.64% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock. The stock has recorded a 20-day Moving Average of 35.51% and the 50-Day Moving Average is 43.24%.
BANRO CORPORATION (NYSEMKT:BAA): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $0.45 and $0.44 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $0.47. The buying momentum continued till the end and the stock did not give up its gains. It closed at $0.46, notching a gain of 0.92% for the day. The total traded volume was 1,394,954 . The stock had closed at $0.46 on the previous day.
Institutional Investors own 4.9% of BANRO CORPORATION shares.
Banro Corporation (Banro) is a gold mining company. The Company holds a 100% interest in its four gold properties (Twangiza, Namoya, Lugushwa and Kamituga) through four Democratic Republic of the Congo (DRC) subsidiaries. The Company is focused on production from the Twangiza gold mine in the DRC. Namoya is engaged in gold production. The Company is engaged in the development of two additional wholly owned gold projects, Lugushwa and Kamituga. The four projects are located along the Twangiza-Namoya gold belt in the South Kivu and Maniema provinces of the DRC. Its properties, totaling approximately 2,612 square kilometers, are covered by a total of 13 exploitation permits (or mining licenses). The Company also holds, through its DRC subsidiary (Banro Congo Mining S.A.), 14 exploration permits covering an aggregate of 2,638 square kilometers, including 10 of which are located in the vicinity of its Twangiza property and four are located in the vicinity of the Namoya property.