Northern Empire Resources (CVE:NM) Shares Up 1.6% – Here’s Why

Northern Empire Resources Corp. (CVE:NM) shares shot up 1.6% during mid-day trading on Wednesday. The company traded as high as C$1.28 and last traded at C$1.25. 66,707 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 220,469 shares. The stock had previously closed at C$1.23.

Northern Empire Resources Stock Performance

The stock has a market cap of C$83.82 million and a price-to-earnings ratio of -4.77. The company’s 50 day simple moving average is C$1.25 and its 200 day simple moving average is C$1.25.

Northern Empire Resources Company Profile

Northern Empire Resources Corp. engages in the acquisition, exploration, and development of gold deposits in the United States. The company holds a 100% interest in the Sterling gold project located in Nye County, Nevada; the Richardson property covering an approximately 11,300 hectares located to the southeast of Fairbanks, Alaska; and the Hilltop gold property covering an approximately 12,600 hectares located to the southeast of Fairbanks, Alaska. The company was formerly known as Prosperity Goldfields Corp.