GFG Resources (CVE:GFG) Stock Price Down 10.8% – Time to Sell?

GFG Resources Inc (CVE:GFG) shares dropped 10.8% during trading on Thursday . The stock traded as low as C$0.16 and last traded at C$0.17. Approximately 741,125 shares changed hands during mid-day trading, an increase of 359% from the average daily volume of 161,617 shares. The stock had previously closed at C$0.19.

GFG Resources Stock Down 10.8 %

The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.98 and a current ratio of 1.66. The firm has a 50 day simple moving average of C$0.16 and a two-hundred day simple moving average of C$0.13. The stock has a market cap of C$39.69 million, a P/E ratio of -3.30 and a beta of 2.21.

GFG Resources Company Profile

GFG Resources Inc engages in the acquisition, exploration, and development of mineral properties in Canada and the United States. The company primarily explores for gold deposits. It holds interests in the Montclerg gold project consisting of 5 patented and 110 unpatented mining claims located near the east of Timmins; the Pen gold project covers an area of approximately 475 square kilometers located near the southwest of the prolific gold district and town of Timmins; and the Dore gold project covers an area of approximately 212 square kilometers located in Ontario.