Geomega Resources (CVE:GMA) Stock Price Down 1.6% – Time to Sell?

Geomega Resources Inc. (CVE:GMA)’s share price dropped 1.6% during trading on Thursday . The company traded as low as C$0.31 and last traded at C$0.32. Approximately 28,960 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 180,652 shares. The stock had previously closed at C$0.32.

Geomega Resources Stock Down 1.6%

The stock’s fifty day simple moving average is C$0.36 and its two-hundred day simple moving average is C$0.32. The company has a debt-to-equity ratio of 62.12, a current ratio of 2.17 and a quick ratio of 6.08. The company has a market capitalization of C$50.69 million, a price-to-earnings ratio of -78.75 and a beta of 3.19.

Geomega Resources Company Profile

Geomega Resources Inc engages in the acquisition, evaluation, and exploration of mining properties in Canada. The company primarily explores for rare earth elements and niobium deposits. It owns a 100% interest in the Montviel property comprising 106 mining claims covering an area of approximately 5,889 hectares located 100 km north of Lebel-surQuévillon and 45 km west of the Cree First Nation of Waswanipi. The company was incorporated in 2008 and is headquartered in Boucherville, Canada.