Globex Mining Enterprises (TSE:GMX) Share Price Crosses Above Fifty Day Moving Average – Should You Sell?

Globex Mining Enterprises Inc. (TSE:GMX)’s stock price crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$2.24 and traded as high as C$2.64. Globex Mining Enterprises shares last traded at C$2.54, with a volume of 33,766 shares traded.

Globex Mining Enterprises Stock Down 2.3%

The company has a market capitalization of C$143.22 million, a PE ratio of 28.22 and a beta of 1.40. The company has a 50-day moving average price of C$2.24 and a two-hundred day moving average price of C$1.82.

Insiders Place Their Bets

In other news, insider Carmelo Marrelli sold 6,600 shares of the stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of C$9.30, for a total value of C$61,380.00. Following the sale, the insider directly owned 41,100 shares of the company’s stock, valued at approximately C$382,230. This represents a 13.84% decrease in their ownership of the stock. Over the last ninety days, insiders sold 11,100 shares of company stock worth $103,280. 13.44% of the stock is owned by insiders.

About Globex Mining Enterprises

Globex Mining Enterprises Inc is a Canada based exploration company. The company is engaged in the acquisition, development, and exploration of mineral properties in North America. The company’s mineral portfolio consists of early to mid-stage exploration, development and royalty properties which contain Base Metals, Specialty Metals and Minerals and Industrial Minerals.