Is Buying Noront Resources Ltd Here a Winning Strategy?

The stock of Noront Resources Ltd (CVE:NOT) is a huge mover today! The stock is up 6.15% or $0.02 after the news, hitting $0.345 per share. About 1.57M shares traded hands or 186.37% up from the average. Noront Resources Ltd (CVE:NOT) has risen 6.00% since February 16, 2016 and is uptrending. It has outperformed by 8.73% the S&P500. The move comes after 7 months positive chart setup for the $82.95M company. It was reported on Mar, 17 by Barchart.com. We have $0.99 PT which if reached, will make CVE:NOT worth $155.95M more.

Noront Resources Ltd. is a Canada-based company, which is engaged in acquiring, exploring and developing mineral properties with a focus on the Ring of Fire in Northwestern Ontario. The company has a market cap of $82.95 million. The Firm explores for base and precious metals, including nickel, copper, platinum group metals, chromite, iron, titanium, vanadium, gold, and silver. It currently has negative earnings. The Company’s projects include Eagle’s Nest Mine, Blackbird Deposit, Big Daddy Deposit, Black Thor and Black Label Deposits and McFaulds Deposit.