GFG Resources (CVE:GFG) Shares Down 13.5% – Here’s Why

Shares of GFG Resources Inc (CVE:GFG) were down 13.5% during trading on Thursday . The stock traded as low as C$0.16 and last traded at C$0.16. Approximately 398,625 shares were traded during mid-day trading, an increase of 147% from the average daily volume of 161,617 shares. The stock had previously closed at C$0.19.

GFG Resources Trading Up 12.1 %

The company has a debt-to-equity ratio of 0.19, a current ratio of 1.66 and a quick ratio of 2.98. The business’s 50-day moving average is C$0.16 and its 200 day moving average is C$0.13. The firm has a market capitalization of C$44.51 million, a P/E ratio of -3.70 and a beta of 2.21.

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.