Kincora Copper (CVE:KCC) Stock Price Up 26.3% – Here’s Why

Shares of Kincora Copper Limited (CVE:KCC) rose 26.3% during trading on Wednesday . The stock traded as high as C$1.35 and last traded at C$1.25. Approximately 234,730 shares changed hands during trading, an increase of 474% from the average daily volume of 40,898 shares. The stock had previously closed at C$0.99.

Kincora Copper News Roundup

Here are the key news stories impacting Kincora Copper this week:

• Positive Sentiment: Kincora and AngloGold Ashanti Exploration expanded and upgraded target work at the Nevertire project and have recommenced drilling — this restarts active news flow and creates near-term catalysts (step-out/infilling holes, assays, potential resource upgrade) that can materially re-rate the stock. Kincora and AngloGold Ashanti Exploration Expands and Upgrades Nevertire with Drilling Recommenced
• Negative Sentiment: Exploration risk and timing — drilling can fail to deliver high-grade or economic results, and further funding or dilution could be required if larger programs are needed; results and assays will determine whether the positive sentiment is sustained.

Kincora Copper Stock Up 26.3%

The stock has a market cap of C$53.44 million, a price-to-earnings ratio of -10.42 and a beta of 1.87. The company’s 50-day simple moving average is C$1.02 and its 200-day simple moving average is C$0.97.

About Kincora Copper

Kincora Copper Limited engages in acquisition, exploration, and evaluation of mineral properties in Mongolia and Australia. It primarily explores for copper and gold deposits. The company's flagship project is the Trundle Project, including one license covering an area of 167km2 located in the Junee-Narromine volcanic belt of the Macquarie Arc. The company was formerly known as Brazilian Diamonds Limited and changed its name to Kincora Copper Limited in January 2011. Kincora Copper Limited was incorporated in 1983 and is headquartered in Vancouver, Canada.