Southern Empire Resources Corp. (CVE:SMP) shares were up 3.1% during trading on Monday . The company traded as high as C$0.17 and last traded at C$0.17. Approximately 87,525 shares changed hands during mid-day trading, an increase of 37% from the average daily volume of 64,118 shares. The stock had previously closed at C$0.16.
Separately, Fundamental Research set a C$0.42 price target on shares of Southern Empire Resources and gave the company a “buy” rating in a research note on Tuesday, August 3rd.
The firm has a market capitalization of C$7.89 million and a PE ratio of 5.34. The stock’s fifty day moving average price is C$0.19.
Southern Empire Resources Corp. engages in the acquisition, exploration, and development of gold deposits in North America. It has an option to acquire 75% interest in the Oro Cruz Property covering 2,160 hectares located in the Cargo Muchacho mountains of Imperial County, southeast California. The company also owns an 85% interest in the Eastgate Gold Project with 101 unpatented BLM lode mining claims covering 817 hectares located in Churchill County, Nevada.
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