Minnova (CVE:MCI) Stock Price Down 20% – Here’s Why

Minnova Corp. (CVE:MCI) shares dropped 20% during trading on Friday . The stock traded as low as C$0.04 and last traded at C$0.04. Approximately 249,222 shares changed hands during mid-day trading, an increase of 40% from the average daily volume of 178,078 shares. The stock had previously closed at C$0.05.

Minnova Stock Performance

The firm’s 50-day moving average price is C$0.05 and its two-hundred day moving average price is C$0.05. The company has a quick ratio of 0.12, a current ratio of 0.02 and a debt-to-equity ratio of -3.33. The firm has a market capitalization of C$2.82 million, a PE ratio of -3.05 and a beta of 1.11.

Minnova Company Profile

Minnova Corp. engages in the exploration and evaluation of mineral properties. The company operates in two segments, Mineral Exploration and Renewable Energy. It primarily explores for gold. The company holds 100% interests in the PL Gold mine and the Nokomis property located in Manitoba. It also engages in the research and development of biomass gasification technology to produce renewable energy.