EMX Royalty Corporation (NYSEAMERICAN:EMX) Stock Attempts To Bounce Back
EMX Royalty Corporation (NYSEAMERICAN:EMX) managed to make a recovery in the markets yesterday and its stock ended the day with gains of as much as 2%.
Market Stats
On Monday, EMX stock gained 2.38% to $2.15 with more than 634K shares, compared to its average volume of 152k shares. The stock has moved within a range of $1.8700 – 2.1900 after opening trading at $2.01.
Update on EMX’s Balya North Royalty Property
The recovery may have come as a boost for its investors but at the same time it should be noted that over the course of the past week the stock is still down by as much as 10%. In this situation, it might be a good idea for investors to take a look at the update provided by EMX Royalty Corporation that eventually led to the rally. The company provided an update in relation to its activities at the North Balya zinc, silver, lead property that is located in the north western part of Turkey.
It was noted that the company holds NSR royalty to the tune of as much as 4% for the property. More importantly, royalty pay out is uncapped. Not too long ago, the representatives from the company had visited the site and met with the operator. The operators for the property at this point is EsanEczacibaşiEndüstriyelHammaddeler San. ve Tic. A.Ş. The operator informed the representatives of the company that the development ramps that are going to be needed for production have been almost completed.
Traders Corner
EMX stock is trading below the 20-Day and 50-Day Moving averages of $2.43 and $2.62 respectively. The stock is trading in the oversold zone with RSI stands at 31.
