Gold stocks have been in focus among investors for quite a while amidst the significant turbulence in the global markets. There are plenty of companies that you could choose from and this morning, it could be a good move to perhaps look into the Fortitude Gold Corp (OTCMKTS:FTCO) stock.
Trading Data
On Tuesday, FTCO stock fell 2.92% to $6.07 with more than 42.32K shares, compared to volume of 36.69K shares. The stock moved within a range of $6.02 – 6.18 after opening trade at $6.13.
Fortitude Gold Intercepts 6.1 Meters Grading 15.18 G/T Gold Within 15.24 Meters Grading 7.66 G/T Gold at County Line
The company was in the news yesterday after it announced the drilling results from the inaugural drilling activities which had been conducted at its County Line property that is situated in Mineral and Nye counties in the state of Nevada. The company announced that it had managed to unearth a number of high-grade gold intercepts at the site.
That also included 6.10 meters grading with 15.8 grams per ton of gold in 15.24 meters grading. It goes without saying that the announcement was a significant one from the company and one that is going to be watched closely by investors over the course of the coming weeks. In this context, it could also be a good move for investors to have a bit of an idea about the Fortitude stock.
An investment in the stock not only gives investors exposure to the world of gold production but also gives them a holding in a stock with a high dividend yield.
Key Quote
“We are very pleased with these initial high-grade gold drill intercepts including impressive widths of mineralization close to the surface,” stated Mr. Barry Devlin, Vice President of Exploration for Fortitude Gold. “We are working to model this mineralization for tonnes, grade, and mineral resource expansion with the next drill program already underway.”
Technical Data
FTCO stock is below the 20-Day and 50-Day Moving averages of $6.29 and $6.17 respectively. Moreover, the stock is trading below the 200-Day moving average of $6.47. The stock is down 1% over the past 6 months.
