Phoenix Copper (LON:PXC) Stock Price Up 7.8% – Time to Buy?

Phoenix Copper Limited (LON:PXC) shares traded up 7.8% on Wednesday . The stock traded as high as GBX 2.50 and last traded at GBX 2.16. 2,073,170 shares traded hands during trading, an increase of 23% from the average session volume of 1,682,420 shares. The stock had previously closed at GBX 2.

Phoenix Copper Price Performance

The business’s 50-day moving average price is GBX 2.45 and its 200 day moving average price is GBX 3.20. The company has a market capitalization of £5.77 million, a P/E ratio of -0.72 and a beta of 1.75. The company has a quick ratio of 13.42, a current ratio of 0.65 and a debt-to-equity ratio of 5.51.

Insider Activity

In other news, insider Ryan McDermott purchased 550,000 shares of the business’s stock in a transaction on Thursday, December 11th. The stock was purchased at an average cost of GBX 2 per share, with a total value of £11,000. Also, insider Marcus Edwards-Jones purchased 1,000,000 shares of the firm’s stock in a transaction dated Thursday, December 11th. The stock was purchased at an average cost of GBX 2 per share, for a total transaction of £20,000. Insiders bought 3,520,719 shares of company stock valued at $7,041,438 in the last quarter. 2.29% of the stock is currently owned by company insiders.

About Phoenix Copper

Phoenix Copper Limited is a North American focused, base and precious metal explorer and developer, with operations near Mackay, Idaho in the Alder Creek mining district. This district includes the historical Empire, Horseshoe, White Knob and Blue Bird Mines, which produced copper at head grades of 6-8% prior to ceasing production in the 1940s. The focus of Phoenix is on bringing an open pit containing copper oxides at empire into production, and using the cashflow generated to progress exploration of the potentially significant copper sulphide deposit beneath.