Cardinal Resources (OTCMKTS:CRDNF) Coverage Initiated at BMO Capital Markets

Equities research analysts at BMO Capital Markets began coverage on shares of Cardinal Resources (OTCMKTS:CRDNF) in a research report issued on Tuesday, The Fly reports. The brokerage set an “outperform” rating on the stock.

Separately, ValuEngine downgraded Cardinal Resources from a “buy” rating to a “hold” rating in a report on Friday, September 6th.

Shares of OTCMKTS CRDNF traded up $0.02 during mid-day trading on Tuesday, hitting $0.28. The company had a trading volume of 750 shares, compared to its average volume of 4,978. Cardinal Resources has a 1 year low of $0.20 and a 1 year high of $0.38. The stock’s 50-day moving average price is $0.27 and its 200-day moving average price is $0.27.

About Cardinal Resources

Cardinal Resources Limited, together with its subsidiaries, engages in the exploration and development of mineral properties in Ghana. It primarily explores for gold deposits. The company's principal project is Namdini Gold project located in the Bolgatanga region. Cardinal Resources Limited is based in West Perth, Australia.

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