In the past week, the Alexco Resource Corp (NYSEAMERICAN:AXU) stock has garnered significant attention from investors and managed to clock gains of 3% during the period. Considering the price action in the stock in the past week, it might now be a good time to take a closer look at Alexco Resource.
Trading Data
On Monday, AXU stock moved up 1.20% to $1.70 with 768k shares, compared to its average volume of 845k shares. The stock has moved within a range of $1.6350 – 1.7200 after opening trade at $1.68.
Alexco Announces $8.0 Million Bought Deal Flow-Through Share Public Offering
As it happens, the company was actually in the news yesterday after it made an announcement with regards to the fact that it had signed an agreement with a consortium of underwriters. As per the terms of the agreement, the underwriters are going to pick up as many as 1851900 common shares in Alexco Resource which are going to be issued as flow through shares.
It was a major announcement from the company and it might be the right time to take a look at some of the important details. The company noted that the shares are going to be sold for C$2.70 each. In addition to that, as many as 1,287,600 common shares are also going to be issued by Alexco Resource for the purposes of ‘Canadian development expenses’. Those additional shares are going to be offered for C$2.33 by Alexco Resource.
Technical Data
AXU stock is trading below the 20-Day and 50-Day Moving averages of $1.71 and $1.84 respectively. Moreover, the stock is trading below the 200-Day moving average of $2.14.
