Gold stocks have been popular among investors for some time due to the economic turmoil in large parts of the world in recent times and if you are looking into gold companies then you may do well to take a look at Fortitude Gold Corp (OTCMKTS:FTCO) this morning.
Trading Data
On Monday, FTCO stock moved up 1.08% to $5.60 with more than 28.63K shares, compared to its average volume of 32.54K shares. The stock moved within a range of $5.46 – 5.62 after opening trade at $5.60.
Fortitude Gold Reports Preliminary Third Quarter Gold Production, Maintains 2022 Gold Outlook
As it happens, the company was, in fact, in the news yesterday after it announced that it had produced as much as 9500 ounces of gold in the third quarter. More importantly, Fortitude also reiterated its annual production projection of 40000 ounces of gold. It should be noted that the projection is in the 36000 ounces to 40000 ounces range.
The company is involved exploration, development and production of gold and its operations are based out of the state of Nevada. Following the announcement that the preliminary production for the third quarter had come in at 9500 ounces, the total preliminary production for the first three quarters of the year now stands at 30555 ounces for Fortitude Gold. The mining operations of the company are currently focused on the Isabella Pearl phase two high grade open pit. It remains to be seen if the Fortitude Gold stock moves following the latest announcement.
Technical Data
FTCO stock is trading below the 20-Day and 50-Day Moving averages of $5.66 and $5.96 respectively. Moreover, the stock is trading below the 200-Day moving average of $6.30.
