Dallas, Texas 07/17/2013 (Financialstrend) – Due to the delay in the filing of the Magnum Hunter Resources Corp (NYSE:MHR) 2012 annual disclosure documents, the company announced on Monday that it ceased trade orders related to securities issued by Alberta Securities Commission. On July 12, 2013 the company’s annual disclosure documents was revoked by the Alberta Securities Commission. Magnum Hunter Resources expects several cease trade orders for securities issued by the Ontario Securities Commission on May 15, 2013, Manitoba Securities Commission on May 7, 2013 and the Quebec Securities Commission on May 16, 2013. These will be revoked by the above mentioned commissions in the near future.
Recently Joseph C.Daches is appointed as the chief financial officer of Magnum Hunter Resources. Previously Ronald Ormand who served in that position is now the head of capital markets and executive vice president of finance of the company. The stock had just ended its rally of surge in share prices and had declined for the past two trading sessions. The recent developments around the company had not been highly promising to attract the investors to the stock.
Shares of Magnum Hunter Resources Corp. opened at $3.81 per share on Tuesday and thereafter declined by 1.31% to close at $3.76 for the day. There had been intraday price movements in the stock within the range of $3.70 as low price to $3.82 as high price. The stock has 52 week low at $2.37 and 52 week high at $5.24 per share. The company has 169.12 million shares outstanding in the market which gives it a market cap of $635.88 million and there is institutional ownership in the capital at 60% of the stock. MHR witnessed the trade of 2.86 million shares on Tuesday, while the average level is at 3.50 million shares per day.