Velocity Minerals (CVE:VLC) Trading Down 2.7% – Time to Sell?

Velocity Minerals Ltd. (CVE:VLC) dropped 2.7% on Wednesday . The company traded as low as C$0.18 and last traded at C$0.18. Approximately 51,000 shares traded hands during trading, an increase of 49% from the average daily volume of 34,312 shares. The stock had previously closed at C$0.19.

Velocity Minerals Stock Up 2.8 %

The company has a current ratio of 4.00, a quick ratio of 5.93 and a debt-to-equity ratio of 0.42. The company has a market capitalization of C$36.32 million, a P/E ratio of -15.00 and a beta of 1.12. The stock has a 50 day moving average price of C$0.16 and a 200 day moving average price of C$0.12.

Velocity Minerals Company Profile

Velocity Minerals Ltd., a gold exploration and development company, engages in the acquisition, exploration, and evaluation of mineral resource properties in Bulgaria. It explores for gold and copper deposits. The company holds 70% interest in the Tintyava property, which includes the Rozino gold project located in the municipalities of Ivaylovgrad and Krumovgrad in southeast Bulgaria; the Momchil property, which includes the Obichnik gold project located within the municipality of Momchilgrad in southeast, Bulgaria; and a 100% interest in the Iglika property covering an area of 105 square kilometers located in southeast Bulgaria.