August 9, 2016 - 2:05 PM EDT
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MEG Energy Corp. (MEG:CA) Gains 1.56% to lead TSX Composite Indrustrial Stocks in Early Trading on August 9

MEG Energy Corp. (MEG:CA) is one of the best performing stocks in the industrial sector in the S&P/TSX Composite Index shortly after the opening bell on August 9. Shares of MEG:CA have climbed 1.56% about 30 minutes into the session to $5.85 after closing the day prior at $5.76. It’s early, but the stock has traded as high as $5.87 and as low as $5.77 so far. Today's quick advance has come with about 217,076 shares changing hands, compared to an average 30-day volume of 1.89 million for MEG Energy Corp.. The price is currently below the 30-day volume weighted average price of $5.83 for MEG:CA. The share appreciation gives the industrial company a market capitalization of $1.3 billion based upon 226.36 million shares outstanding. It also means that MEG Energy Corp. has a price-to-book ratio of 0.35:1 and a price-to-earnings ratio of :1. In the past 52 weeks, shares of MEG:CA have traded as low as $3.46 and as high as $15.06. Technical traders will take note that at $5.85, shares of MEG:CA are trading below their 200-day MA at $7.01 and below their 50-day MA at $6.33. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish. Who is MEG Energy Corp.? MEG Energy Corp is an oil sands company engaged in the development of oil sands in Alberta. The Company has two commercial SAGD projects; the Christina Lake Project and the Surmont Project. The company’s 627 employees are led by CEO William J. McCaffrey from the corporate headquarters at 8th Floor. What is the S&P/TSX Composite Index? Developed and managed by S&P Dow Jones Indices and launched in January 1977, the S&P/TSX Composite is the headline index for the Canadian equity market. Generally, when investors refer to movement in the Canadian markets, they are referring to the S&P/TSX Composite, as it is the broadest index in the S&P/TSX franchise. The index includes more than 230 of the biggest companies traded on the Toronto Stock Exchange, with financials making up the most heavily weighted sector in the index, followed by energy and materials. The Toronto Stock Exchange serves as the distributor of both real-time and historical data for this index. For more information on MEG Energy Corp. and other companies trading on the major exchanges, as well as the over the counter markets, or to be considered for contributing content for our distribution network, visit today. All data provided by QuoteMedia, with stock data accurate as of 9:30 AM ET. is not responsible for inaccuracies in third-party supplied information. About is a leading publisher of market and investment news, commentary, proprietary research and videos from seasoned journalists, analysts and contributors covering the financial markets and global economies. Leveraging our extensive distribution network and social media presence, we have cultivated a valuable audience of engaged market enthusiasts, which in turn delivers a variety of unique opportunities for industry partnerships, corporate communications, market exposure and investment. A complete disclaimer can be viewed here.

Source: Financial Press News (August 9, 2016 - 2:05 PM EDT)

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