Globex Mining Enterprises (TSE:GMX) Hits New 52-Week High – Time to Buy?

Globex Mining Enterprises Inc. (TSE:GMX)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as C$2.84 and last traded at C$2.84, with a volume of 59997 shares traded. The stock had previously closed at C$2.68.

Globex Mining Enterprises Price Performance

The company has a market cap of C$160.14 million, a PE ratio of 31.56 and a beta of 1.40. The firm has a 50-day simple moving average of C$2.12 and a two-hundred day simple moving average of C$1.76.

Globex Mining Enterprises (TSE:GMX) last posted its quarterly earnings data on Thursday, November 13th. The company reported C$0.08 EPS for the quarter. Globex Mining Enterprises had a return on equity of 14.02% and a net margin of 108.26%.The business had revenue of C$0.45 million for the quarter.

Insiders Place Their Bets

In related news, insider Carmelo Marrelli sold 6,600 shares of the company’s stock in a transaction on 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 completion of the transaction, the insider directly owned 41,100 shares in the company, valued at approximately C$382,230. This represents a 13.84% decrease in their ownership of the stock. In the last three months, insiders sold 11,100 shares of company stock valued at $103,280. Insiders own 13.44% of the company’s stock.

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.