First Andes Silver (CVE:FAS) Shares Down 20.5% – Here’s Why

First Andes Silver Ltd. (CVE:FAS) dropped 20.5% during mid-day trading on Wednesday . The company traded as low as C$0.18 and last traded at C$0.18. Approximately 1,547,719 shares changed hands during trading, an increase of 115% from the average daily volume of 718,484 shares. The stock had previously closed at C$0.22.

First Andes Silver Trading Down 20.5%

The company’s 50-day simple moving average is C$0.11 and its 200-day simple moving average is C$0.10. The stock has a market capitalization of C$11.89 million, a price-to-earnings ratio of -17.50 and a beta of 1.34.

About First Andes Silver

First Andes Silver Ltd., an exploration stage company, engages in the exploration of mineral properties in Peru. It explores for silver and gold properties. The company holds 100% interest in the Santas Gloria silver property covering an area of approximately 1,100 hectares located in Peru. The company was formerly known as Mantaro Precious Metals Corp. and changed its name to First Andes Silver Ltd. in April 2024. First Andes Silver Ltd. is headquartered in Vancouver, Canada.