China Natural Resources Inc (CHNR) Stock Breakout Alert: What Next?
There has been no news in recent days about China Natural Resources Inc (NASDAQ:CHNR) but the stock has emerged as a notable gainer in the markets and on Monday, it jumped by as much as 13%.
Considering the fact that there has been no news, it might be a good idea for investors to rather look into some important developments from that past. That helps in getting a better idea about the company. Back in April the company announced its financial results for the year that ended on December 31, 2020.
At the time of the announcement, the Chief Executive Officer and Chairman of the company Wong Wah On Edward spoke about the situation at the company. He stated that like many other companies, China Natural Resources also suffered considerably due to the effects of the coronavirus pandemic.
The company’s revenues had suffered and in order to align the expenses commensurately, China Natural Resources took some decisions that helped in controlling its expenses. Hence, the company managed to actually improve its performance year on year and managed to generated earnings of CNY 0.90 a share in 2020. In, 2019, the company had actually suffered a loss of $0.23 a share.
Market Reaction:
On Monday, CHNR stock jumped 13.30% at $1.79 with more than 991k shares, compared to its average volume of 140k shares. The stock had moved within a range of $1.5900 – 1.8700 after opening the trade at $1.60. Over the past 52-week, the stock has been trading within a range of $1.0200 – 3.6500.
