Shares of K9 Gold Corp. (CVE:KNC) shot up 15.5% during mid-day trading on Wednesday . The company traded as high as C$0.57 and last traded at C$0.56. 426,406 shares changed hands during trading, an increase of 124% from the average session volume of 190,299 shares. The stock had previously closed at C$0.49.
Separately, Fundamental Research set a C$0.65 price target on K9 Gold and gave the stock a “buy” rating in a research report on Tuesday, March 16th.
The company has a 50-day simple moving average of C$0.33.
K9 Gold Corp. engages in the identification, acquisition, and exploration of mineral interests. It holds 100% interests in the Stony Lake East Gold project consisting of 8 mineral licenses covering an area of 13,625 hectares located in the Grand Falls province of Newfoundland. The company also owns interests in the Desert Eagle project comprising 97 claims covering an area of 2,004 acres located in Garfield County, Utah, the United States.
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