BANRO CORPORATION (NYSEMKT:BAA) : Traders are bullish on BANRO CORPORATION (NYSEMKT:BAA) as it has outperformed the S&P 500 by a wide margin of 23.94% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 19.73%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 21.26% in the last 1 week, and is up 25.94% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The company shares have rallied 21.88% from its 1 Year high price. On Jul 8, 2016, the shares registered one year high at $0.39 and the one year low was seen on Jan 25, 2016. The 50-Day Moving Average price is $0.30 and the 200 Day Moving Average price is recorded at $0.27.
The stock has recorded a 20-day Moving Average of 25.2% and the 50-Day Moving Average is 22.61%.
BANRO CORPORATION (NYSEMKT:BAA): stock turned positive on Friday. Though the stock opened at $0.365, the bulls momentum made the stock top out at $0.385 level for the day. The stock recorded a low of $0.357 and closed the trading day at $0.385, in the green by 4.90%. The total traded volume for the day was 1,822,400. The stock had closed at $0.367 in the previous days trading.
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.