Globex Mining Enterprises (TSE:GMX) Stock Crosses Below Fifty Day Moving Average - Here's What Happened

Key Points

• Globex Mining's stock crossed below its 50-day moving average (50‑day MA C$2.54), trading as low as C$2.14 and last at C$2.23 on volume of 120,553 shares; the 200‑day MA is C$1.99 and market cap is C$125.81 million.
• Insider selling noted: Carmelo Marrelli sold 6,600 shares on Dec. 23 at an average of C$9.30 (a 13.84% reduction in his holding); insiders sold 11,100 shares worth $103,280 last quarter and collectively own about 13.44% of the company.

Globex Mining Enterprises Inc. (TSE:GMX - )'s share price passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$2.54 and traded as low as C$2.14. Globex Mining Enterprises shares last traded at C$2.23, with a volume of 120,553 shares traded.

Globex Mining Enterprises Price Performance

The firm has a market capitalization of C$125.81 million, a price-to-earnings ratio of 24.78 and a beta of 0.72. The firm has a 50 day moving average price of C$2.54 and a 200-day moving average price of C$1.99.

Insider Transactions at Globex Mining Enterprises

In other Globex Mining Enterprises news, insider Carmelo Marrelli sold 6,600 shares of the stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of C$9.30, for a total value of C$61,380.00. Following the sale, the insider owned 41,100 shares of the company's stock, valued at C$382,230. This trade represents a 13.84% decrease in their position. Over the last quarter, insiders sold 11,100 shares of company stock valued at $103,280. 13.44% of the stock is owned by company insiders.

About Globex Mining Enterprises

Globex Mining Enterprises Inc is a Canada based exploration company. The company is engaged in the acquisition, development, and exploration of mineral properties in North America. The company's mineral portfolio consists of early to mid-stage exploration, development and royalty properties which contain Base Metals, Specialty Metals and Minerals and Industrial Minerals.

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