Torq Resources (CVE:TORQ) Stock Price Up 16.7% – Time to Buy?

Torq Resources Inc. (CVE:TORQ)’s stock price was up 16.7% during mid-day trading on Monday . The company traded as high as C$0.08 and last traded at C$0.07. Approximately 337,016 shares changed hands during trading, an increase of 231% from the average daily volume of 101,802 shares. The stock had previously closed at C$0.06.

Torq Resources Stock Performance

The stock has a 50-day moving average of C$0.08 and a 200-day moving average of C$0.08. The company has a debt-to-equity ratio of 152.74, a quick ratio of 10.31 and a current ratio of 0.22. The firm has a market cap of C$9.73 million, a price-to-earnings ratio of -0.58 and a beta of 0.84.

Insider Activity at Torq Resources

In other news, Director Michael Kosowan bought 750,000 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were acquired at an average cost of C$0.09 per share, for a total transaction of C$63,750.00. 29.71% of the stock is owned by insiders.

About Torq Resources

Torq Resources Inc, a junior exploration company, engages in the acquisition and exploration of mineral properties in the Americas. It has an option to acquire 100% interests in the Margarita iron oxide-copper-gold project covering an area of approximately 1,445 hectares located in the city of Copiapo, Chile; Santa Cecilia gold-copper project, which covers an area of 3,250-hectares located in Chile; and Andrea copper porphyry project that covers an area of 1,200 hectares located in northern Chile.