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Gammon Gold, Inc. (GRS) Hits New 52-Week High at $9.60


Shares of Gammon Gold, Inc. (GRS) hit a new 52-week high on Wednesday. The stock traded as high as $9.60 during mid-day trading and last traded at $9.60. The stock previously closed at $9.19.


 


Separately, analysts at Canaccord Genuity downgraded shares of Gammon Gold, Inc. from a “buy” rating to a “hold” rating in a research note to investors on Wednesday, February 23rd. Also, analysts at Zacks Investment Research reiterated a “neutral” rating on shares of Gammon Gold, Inc. in a research note to investors on Wednesday, December 29th.


 


Gammon Gold Inc. (Gammon) is a mining company which is also engaged in the exploration for, and development of, gold and silver deposits in Mexico. Through its subsidiaries, the Company owns and operates the Ocampo gold-silver mine in Chihuahua State, Mexico, and the El Cubo gold-silver mine in Guanajuato State, Mexico, both of which are producing gold and silver. Through its subsidiaries, the Company also owns the Guadalupe y Calvo gold-silver exploration project in Chihuahua State, Mexico, and leases the Las Torres gold-silver mine in Guanajuato State, Mexico, which is also producing gold and silver. During the year ended December 31, 2009, the Company sold 133,003 gold ounces and 5,146,584 silver ounces. As of December 31, 2009, Gammon’s total proven and probable gold equivalent reserves were 2.5 million gold equivalent ounces.


 


Shares of Gammon Gold, Inc. traded up 4.35% during mid-day trading on Wednesday, hitting $9.59. Gammon Gold, Inc. has a 52 week low of $5.09 and a 52 week high of $9.60. The stock’s 50-day moving average is $8.73 and its 200-day moving average is $7.64. The company has a market cap of $1.332 billion.


 


Capital Gold Co. (CGC) Hits New 52-Week High at $5.92


Shares of Capital Gold Co. (CGC) hit a new 52-week high on Wednesday. The stock traded as high as $5.92 during mid-day trading and last traded at $5.91. The stock previously closed at $5.70.


 


Separately, analysts at Zacks Investment Research reiterated a “neutral” rating on shares of Capital Gold Co. in a research note to investors on Monday, January 3rd.


 


Capital Gold Corporation (Capital Gold) is engaged in the mining, exploration and development of gold properties in Mexico. The Company’s focus is on the operation and development of the El Chanate project, as well as the development of its Orion Project in the State of Nayarit Mexico. The Company’s Orion Project lies in the Sierra Madre Occidental, a prolific mining district in Western Mexico. It also conducts gold exploration in other locations in Sonora, Mexico. Through wholly owned subsidiaries, Capital Gold Corporation owns 100% of 21 mining concessions located in the State of Sonora, Republic of Mexico totaling approximately 9,665 hectares (23,873 acres or 37.3 square miles). On August 2, 2010, the Company completed the acquisition of Nayarit Gold, Inc. (Nayarit). Through this acquisition it controls approximately 257,000 acres (104,000 hectares) of mining concessions known as the Orion Project.


 


Shares of Capital Gold Co. traded up 3.86% during mid-day trading on Wednesday, hitting $5.92. Capital Gold Co. has a 52 week low of $2.30 and a 52 week high of $5.79. The stock’s 50-day moving average is $5.37 and its 200-day moving average is $4.75. The company has a market cap of $363.0 million and a price-to-earnings ratio of 23.95.

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