Granite Oil Corp. (GXO:CA) Declines 8.7% for September 18

Equities Staff  |

It was a tough day for Granite Oil Corp. (GXO:CA) as its stock fell 8.7% to finish the day at $0.63 a share on September 18. That reduces the company’s market cap to 24.43 million on 38.76 million outstanding shares. Granite Oil Corp. is a component of the the S&P/TSX SmallCap Index.

37,000 shares exchanged hands over the course of the day as compared with an average daily volume of 30,443 over the last 30 days.

Granite Oil Corp is a Canada-based oil producer based in Calgary, Alberta with lands and operations located in southern Alberta. The company is engaged in the exploration for and exploitation, development, and production of oil and natural gas. Its Alberta Bakken Properties are located in southern Alberta at the south of Lethbridge.. Granite Oil Corp. makes its home in Calgary, AB, and currently has CEO Michael Kabanuk at the helm.

The past 52 weeks have seen the stock trade in a range between a high of $1.93 and a low of $0.43, and it’s currently sporting a 50-day SMA of $0.62 and a 200-day SMA of $0.73. The current P/E ratio stands at 3.9, with a P/B ratio of 0.13.

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Granite Oil Corp. ($GXO:CA) is one of the 200 Canadian small-cap stocks that make up the S&P500/TSX SmallCap Index, the widely recognized benchmark for gauging the performance of the Canadian small-cap market. Similar to the Russell 2000 in the United States, the index is market cap-weighted and consists only of smaller companies. To be a part of the index, a company must have a market capitalization between C$100 million and C$1.5 billion with an average share price of C$1 or more.

To get more information on Granite Oil Corp. and to follow the company’s latest updates, you can visit the company’s profile page here: GXO:CA’s Profile. For more news on the financial markets and emerging growth companies, be sure to visit’s Newsdesk. Also, don’t forget to sign-up for our daily email newsletter to ensure you don’t miss out on any of our best stories.

All data provided by QuoteMedia and was accurate as of 4:30PM ET.

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