Parex Resources Inc. (PXT:CA) Gains 1.74% to lead TSX Composite Indrustrial Stocks in Early Trading on August 9

Parex Resources Inc. (PXT: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 PXT:CA have climbed 1.74% about 30 minutes into the session to $13.72 after closing the day prior at $13.49. It’s early, but the stock has traded as high as $13.73 and as low as $13.51 so far. Today's quick advance has come with about 24,140 shares changing hands, compared to an average 30-day volume of 236,207 for Parex Resources Inc.. The price is currently below the 30-day volume weighted average price of $13.6 for PXT:CA. The share appreciation gives the industrial company a market capitalization of $2.05 billion based upon 152.27 million shares outstanding. It also means that Parex Resources has a price-to-book ratio of 2.06:1 and a price-to-earnings ratio of :1. In the past 52 weeks, shares of PXT:CA have traded as low as $7.16 and as high as $14.52. Technical traders will take note that at $13.72, shares of PXT:CA are trading above their 200-day MA at $11.2 and above their 50-day MA at $13.01. 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 Parex Resources ? Parex Resources Inc is engaged in exploration, development, production and marketing of oil and natural gas in South America. It is engaged in the Llanos Basin and Middle Magdalena Basin of Colombia. The company’s 279 employees are led by CEO Wayne K. Foo from the corporate headquarters at 585 - 8th Avenue SW. 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 Parex Resources 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.