Which Is Better, Technology or Gold? Kofax Ltd (KFX) and Midway Gold Corp (MDW)
New York, NY – GDP INSIDER – 03/30/2015.
This articles discusses two companies: Kofax Ltd (NASDAQ:KFX) and Midway Gold Corp (USA) (NYSEMKT:MDW)
Kofax Ltd (NASDAQ:KFX) fell back slightly on Friday after its massive gains earlier in the week sliding 0.09% or $0.01 to close at $10.92 on very active trading of 6.752 million shares compared to its three month average trading volume of 1.003 million. The rally last week began after the smart process application provider announced that it is going to be bought out by Lexmark International Inc (NYSE:LXK), in a deal that is worth about $1 billion. In the agreement, Lexmark International Inc will buy all of Kofax Ltd’s shares at $11. The issue is now being muddied by several law firms that are investigating the deal as to whether it represents an equitable transaction for Kofax Ltd shareholders. The sticking point is that the purchase price of $11 per share has no premium over the recent 52 week high of $11.02 that was achieved just before the deal was announced making a better hold than buy for now.
Midway Gold Corp (USA) (NYSEMKT:MDW) continued its downward spiral on Friday with the stock losing another 6.61% or $0.0208 to close at $0.2940 with more than 3.275 million shares changing hands, compared to its three month average trading volume of 0.729 million. The Denver based precious metal company has been in steady decline so far this year, with the stock vastly underperforming the S&P 500. The shares have now lost 60.27% YTD and did not even gain a boost after Midway Gold Corp announced on Friday that it has completed its first 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 will start full production on Monday. If full production goes as planned and with an RSI of 19.87, the stock looks set for a significant upward swing this week.
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