Geomega Resources (CVE:GMA) Shares Up 10.6% – Here’s Why
by Kim Johansen · The Markets DailyGeomega Resources Inc. (CVE:GMA – Get Free Report)’s share price traded up 10.6% during mid-day trading on Wednesday . The stock traded as high as C$0.27 and last traded at C$0.26. 444,716 shares traded hands during mid-day trading, an increase of 259% from the average session volume of 123,814 shares. The stock had previously closed at C$0.23.
Geomega Resources Price Performance
The company has a market capitalization of C$43.80 million, a P/E ratio of -88.33 and a beta of 3.55. The firm’s fifty day moving average is C$0.25 and its 200 day moving average is C$0.27. The company has a debt-to-equity ratio of 62.12, a quick ratio of 6.08 and a current ratio of 2.17.
Geomega Resources Company Profile
Geomega Resources Inc engages in the acquisition, evaluation, and exploration of mining properties in Canada. The company primarily explores for rare earth elements and niobium deposits. It owns a 100% interest in the Montviel property comprising 106 mining claims covering an area of approximately 5,889 hectares located 100 km north of Lebel-surQuévillon and 45 km west of the Cree First Nation of Waswanipi. The company was incorporated in 2008 and is headquartered in Boucherville, Canada.