January 18, 2017 - 10:24 PM EST
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Morning Mover: Raging River Exploration Inc. (RRX:CA) Loses 1.61% to Drag on TSX Composite Energy Stocks on January 18

Raging River Exploration Inc. (RRX:CA) is a clear laggard in the energy sector of the S&P/TSX Composite Index shortly after the opening bell on January 18. Shares of RRX:CA have fallen 1.61% early in the session to $9.75 after closing the day prior at $9.91. So far, the stock has traded as high as $9.77 and as low as $9.7 in morning action. Today's advance has come with about 142,306 shares changing hands, compared to an average 30-day volume of 946,758 for Raging River Exploration Inc.. The price is currently below the 30-day volume weighted average price of $9.75 for RRX:CA. The share depreciation gives the energy company a market capitalization of $2.29 billion based upon 231.12 million shares outstanding. It also means that Raging River Exp has a price-to-book ratio of 2.55:1 and a price-to-earnings ratio of 242.5:1. In the past 52 weeks, shares of RRX:CA have traded as low as $7.17 and as high as $11.87. Technical traders will take note that at $9.75, shares of RRX:CA are trading below their 200-day MA at $10.47 and below their 50-day MA at $10.33. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move beneath or holding under them is typically regarded as bearish. Who is Raging River Exp? Raging River Exploration Inc is a crude oil and natural gas exploration, development and production company based in Calgary, Alberta, Canada. The Company's operations are based in Western Canada in Southwest Saskatchewan. The company’s 35 employees are led by CEO Neil Roszell from the corporate headquarters at 1700, 605 - 5th Avenue S.W.. 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 Raging River Exp 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 FinancialPress.com today. All data provided by QuoteMedia, with stock data accurate as of 9:30 AM ET. FinancialPress.com is not responsible for inaccuracies in third-party supplied information. About FinancialPress.com FinancialPress.com 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. If you like this article, you can read more at FinancialPress.com


Source: Financial Press News (January 18, 2017 - 10:24 PM EST)

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