Granite Oil Corp. (GXO:CA) Rises 20% for September 16

Equities Staff  |

September 16 was a positive day for Granite Oil Corp. (GXO:CA) as its stock finished the day having gained 20% to hit a price of $0.66 a share. The company reached a market cap of 25.59 million and has 38.76 million shares outstanding. Granite Oil Corp. is a component of the the S&P/TSX SmallCap Index.

130,156 shares changed hands over the course of the day as compared to an average volume of 23,404 over the last 30 days for Granite Oil Corp..

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.. The company makes its home in Calgary, AB, and is currently under the leadership of CEO Michael Kabanuk.

Granite Oil Corp. has hit a high of $1.93 and reached a low of $0.43 over its last year of trading. The stock’s 50-day SMA is now $0.62 and 200-day SMA is $0.73. As for its price valuations, the P/E ratio is at 3.9 and P/B is now 0.13.

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The S&P/TSX SmallCap Index tracks over 200 Canadian small-cap stocks for cumulative performance. Relying on market cap weighting to calculate returns, it’s an index similar in composition to the Russell 2000, only focused on Canadian companies and much smaller in terms of its total membership. Widely recognized as the benchmark for small-cap Canadian stocks, the member companies must have a market cap between C$100 million and C$1.5 billion and an average share price of at least C$1.

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 Equities.com’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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