BANRO CORPORATION (BAA) has risen sharply, recording gains of 25.35% in the past 4 weeks. However, the stock has corrected -2.93% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 21.28% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The stock has recorded a 20-day Moving Average of 0.48% and the 50-Day Moving Average is 17.48%. Banro Corporation is up 7.57% in the last 3-month period. Year-to-Date the stock performance stands at 99%.
BANRO CORPORATION (NYSEMKT:BAA): On Fridays trading session , Opening price of the stock was $0.42 with an intraday high of $0.4218. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $0.395. However, the stock managed to close at $0.398, a loss of 1.49% for the day. On the previous day, the stock had closed at $0.404. The total traded volume of the day was 1,759,843 shares.
Banro Corporation (Banro) is a gold mining company. The Company holds a 100% interest in its four gold properties (Twangiza, Namoya, Lugushwa and Kamituga) through four Democratic Republic of the Congo (DRC) subsidiaries. The Company is focused on production from the Twangiza gold mine in the DRC. Namoya is engaged in gold production. The Company is engaged in the development of two additional wholly owned gold projects, Lugushwa and Kamituga. The four projects are located along the Twangiza-Namoya gold belt in the South Kivu and Maniema provinces of the DRC. Its properties, totaling approximately 2,612 square kilometers, are covered by a total of 13 exploitation permits (or mining licenses). The Company also holds, through its DRC subsidiary (Banro Congo Mining S.A.), 14 exploration permits covering an aggregate of 2,638 square kilometers, including 10 of which are located in the vicinity of its Twangiza property and four are located in the vicinity of the Namoya property.