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Brigus Gold Down 5.4%, Shares Slide into the Red (BRD)

Published on Fri, 02/15/2013 - 13:23
By Robert Cotter

Brigus Gold (NYSE:BRD) is one of today's worst performing penny stocks, down 5.4% to $0.83 on 1.3x average daily volume. Thus far today, Brigus Gold has traded 848,000 shares, vs. average volume of 678,000 shares per day. The stock has underperformed the Dow (-5.4% to the Dow's -0.1%) and underperformed the S&P 500 (-5.4% to the S&P's -0.1%) during today's trading.

Brigus Gold Corp. is an emerging mid-tier gold producer . The Company's current projects are in Ontario, Saskatchewan, Mexico and the Dominican Republic.

There is potential upside of 108.6% for shares of Brigus Gold based on a current price of $0.83 and an average consensus analyst price target of $1.74. Brigus Gold shares should first meet resistance at the 200-day moving average (MA) of $0.91 and find additional resistance at the 50-day MA of $0.93.

In the past 52 weeks, shares of Brigus Gold have traded between a low of $0.69 and a high of $1.09 and are now at $0.83, which is 21% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.4% while the 200-day MA has remained constant.

By Robert Cotter
rcotter@fnno.com