Brookmount Gold Corp (OTCMKTS:BMXI) Stock Soars After Q3 Updates

On Tuesday, it was the Brookmount Gold Corp (OTCMKTS:BMXI) stock which had been one of the biggest movers in the market as it ended up with gains of as much as 52% amidst heavy interest. The gold exploration company with interests in Southeast Asia came into focus yesterday after it announced its financial results for the third fiscal quarter of 2022.

Trading Data

On Tuesday, BMXI stock jumped 51.79% to $0.0850 with more than 771.22K shares, compared to its average volume of 1.02 million shares. The stock moved within a range of $0.0591 – 0.0869 after opening trading at $0.0623.

Brookmount Gold Posts A 30% Sales Increase And Strong Asset Growth In The Third Quarter Of 2022.

The company announced that its sales went up by as much as 30% on a year on year basis and hence, the rally in the Brookmount stock was perhaps not a surprise. In the third quarter, the company managed to bring in revenues of as much as $4.53 million and that reflected a significant rise from the $3.49 million that it had generated in the prior year period.

In this regard, it is perhaps also important to point out that the EBITDA generated by the company stood at $7.64 million and that worked out to a year on year rise of as much as 39%. The company had been established back in 2017 and during the course of its existence it has emerged as one of the options for investor who may be looking for high growth gold exploration companies.

Key Quote

“We are very pleased with the results recorded this quarter and the strong growth of our assets. Brookmount Gold continues to focus on its strategy to become a strong player in the gold mining ecosystem”, said Nils Ollquist, the company’s CEO.

Technical Data

BMXI stock is trading below the 50-Day and 200-Day Moving averages of $0.1088 and $0.1053 respectively. However, the stock is trading above the 20-Day moving average of $0.0671.