Are These Stocks Positioned For Success? Sophiris Bio Inc (SPHS) and Midway Gold Corp (MDW)
New York, NY – GDP INSIDER – 04/06/2015.
This article discusses two companies: Sophiris Bio Inc (NASDAQ:SPHS) and Midway Gold Corp (USA) (NYSEMKT:MDW)
Sophiris Bio Inc (NASDAQ:SPHS) reversed its recent decline on Thursday with the stock gaining 17.12% or $0.1010 to close at $0.6910 on very heavy trading of 2.538 million shares compared to its rather sedate three month average trading volume of 0.422 million. The clinical stage biopharmaceutical company focusing on products to treat urological diseases has been trading between $0.44 and $0.87 for the last three months, without showing any signs of breaking out. Overall, the stock is doing well so far this year up 27.96% YTD but despite Thursday’s strong gains, its RSI is still only at 58.88 and with diluted EPS of -$1.85 the stock is not performing well enough to make further significant gains. However, the company is well financed with a current ratio of 4.61 and any major breakthrough in its research could push the stock up fast making it a potential medium to long term hold.
Midway Gold Corp (USA) (NYSEMKT:MDW) reversed its recent downward spiral on Thursday with the stock gaining 15.97% or $0.0567 to close at $0.4117 with more than 2.529 million shares changing hands, compared to its three month average trading volume of 0.862 million. The Denver based precious metal company had been in steady decline so far this year, with the stock vastly underperforming the S&P 500. With Thursday’s gains, the shares are still down 44.35%, but the welcome boost came after Midway Gold Corp announced that it had completed its second gold pour at the Pan Mine in White Pine County, Nevada. Pan Mines is the first producing mine that Midway Gold Corp has set up in just over three years and has now begun steady production. With the stock just passing a bullish MACD crossover, it looks likely that may just be the start of its gains, making it a hold and potential buy.
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