The share price of Sumatra Copper & Gold (ASX: SUM) soared 41% to $0.29 in intra-day trading last Friday, from a low of $0.205 a day before on Thursday 18 February.
The company said it was not aware of any material information which may explain the sudden investor interest in the stock.
Sumatra Copper did however quote in a response back to the ASX:
'The company is aware that stock broking firm DJ Carmichael has initiated coverage of the company and issued a research note following market closure on Thursday 17 February 2011 containing a speculative buy recommendation and a valuation of A$0.91 per share.
'Further, DJ Carmichael has informed the company that more than 2.4 million shares were traded in the company directly by DJ Carmichael brokers on Friday 18 February 2011.'
In morning intra-day trade today, the stock last changed hands at $0.28.