Shares of Parallel Mining Corp. (CVE:PAL – Get Free Report) rose 7.1% on Wednesday . The stock traded as high as C$0.15 and last traded at C$0.15. Approximately 180,200 shares were traded during mid-day trading, an increase of 337% from the average daily volume of 41,250 shares. The stock had previously closed at C$0.14.
Parallel Mining Price Performance
The firm has a market capitalization of C$3.02 million and a P/E ratio of -1.53. The company has a debt-to-equity ratio of 78.11, a current ratio of 0.81 and a quick ratio of 0.48. The stock’s fifty day simple moving average is C$0.15 and its 200 day simple moving average is C$0.15.
About Parallel Mining
Parallel Mining Corp. acquires, explores for, develops, exploits, and evaluates base and precious metal properties in Canada and Africa. It holds an option to acquire a 100% interest in the Mane II gold property covering an area of 163 square kilometers located in the Kaya-Goren greenstone belt in Ouagadougou, Burkina Faso.
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