Shares of rare earth miner China Shen Zhou Mining & Resources ( SHZ) have rallied more than 21% on Friday to $4.28, after jumping to $4.40 earlier. The ticker continues to push to fresh highs as it lifts up to probe its mid-December range high near the $4.50/$4.63 area. Volume has been heavy. Just over halfway through the trading day, more than 4.1 million SHZ shares have already traded hands compared, with a three-month daily average of 4.3 million shares.
Technically speaking, SHZ has been moving largely higher over the past six months. Since late-October, SHZ’s shares have materially outperformed the market, gaining in the last 52-wks 167.42% vs. a same-period increase in the S&P 500 of 12.59%. The equity is currently trading below its 50-day moving average of $6.73 and above its 200-day moving average of $3.00.
At last check, China Shen Zhou Mining & Resourcess shares were up 78 cents, or 22.10%, to $4.32. The day’s trading range for the ticker, whose market cap currently stands at $120M, has been between $3.45 and $4.45 per share.
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