Calls Purchased on Northgate Minerals Corporation (NXG)

Shares of Northgate Minerals Corporation NXG are higher on the session by 1.12%, currently trading at $2.71. The stock has been moving largely lower over the past six months and is currently trading below the 50-day and 200-day moving averages.

Options traders are buying calls on the name today. A short while ago the March 2011 $2.50 call was purchased 1,500 times, on the offer, on open interest of 3,333 contracts.

Overall call volume is now running at 16.82x the daily average with 93% of all calls traded being purchases on the offer.

Northgate Minerals Corporation is a Canada-based gold and copper producing company with operations, development projects and exploration properties in Canada and Australia.