GFG Resources (CVE:GFG) Shares Down 7.1% – Here’s Why

Shares of GFG Resources Inc (CVE:GFG) fell 7.1% on Wednesday . The stock traded as low as C$0.13 and last traded at C$0.13. 252,679 shares traded hands during trading, an increase of 65% from the average session volume of 152,875 shares. The stock had previously closed at C$0.14.

GFG Resources Price Performance

The company has a market capitalization of C$34.13 million, a PE ratio of -34.79 and a beta of 2.21. The firm has a fifty day moving average of C$0.16 and a two-hundred day moving average of C$0.18. The company has a current ratio of 2.33, a quick ratio of 2.98 and a debt-to-equity ratio of 0.13.

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.