News Spotlight: Maverix Metals Inc. (NYSE American:MMX, TSX:MMX)

Jeffery Knight

Maverix Metals Inc. (NYSE American:MMX, TSX:MMX) stock observed trading -12.73% off 52-week high price. On the other end, the stock has been noted 91.84% away from low price over the last 52-weeks. The stock disclosed a move of 6.56% away from 50 day moving average and 22.26% away from 200 day moving average. Moving closer, we can see that shares have been trading -0.96% off 20-day moving average. It has market cap of $737.26M.

On Aug. 16, 2019,  Maverix Metals Inc. (NYSE American:MMX, TSX:MMX) is pleased to notified that it has completed the acquisition of an additional net smelter return (NSR) royalty on the Hope Bay mine (Hope Bay) in Nunavut, Canada, owned and operated by TMAC Resources Inc. (TMAC). Maverix now holds a 2.75% NSR royalty on Hope Bay effective from August 1, 2019. The 2.75% NSR royalty will reduce to 2.5% upon registration of the royalty against the property.

TMAC continues to optimize the established operations and expects Hope Bay to produce over 160,000 ounces of gold in 2019.1

Maverix has drawn on its existing credit facility to fund the acquisition.

The Canada based company Maverix Metals Inc. moved with change of -2.04% to $4.8 with the total traded volume of 2157 shares in recent session versus to an average volume of 10.74K. The stock was observed in the 5 days activity at -3.61%. The one month performance of stock was 10.34%. MMX’s shares are at 23.63% for the quarter and driving a 70.33% return over the course of the past year and is now at 44.14% since this point in 2018. The average volatility for the week and month was at 5.03% and 6.91% respectively. There are 153.6M shares outstanding and 36.46M shares are floated in market.

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