Phoenix Copper (LON:PXC) Stock Price Down 12.8% – Here’s What Happened

Phoenix Copper Limited (LON:PXC)’s stock price was down 12.8% during trading on Thursday . The stock traded as low as GBX 1 and last traded at GBX 1. Approximately 14,796,809 shares traded hands during trading, an increase of 186% from the average daily volume of 5,168,665 shares. The stock had previously closed at GBX 1.15.

Phoenix Copper Stock Down 4.5%

The company has a market cap of £2.89 million, a PE ratio of -0.30 and a beta of 1.75. The company has a debt-to-equity ratio of 5.51, a quick ratio of 13.42 and a current ratio of 0.65. The firm has a fifty day simple moving average of GBX 2.40 and a 200 day simple moving average of GBX 2.75.

Insider Transactions at Phoenix Copper

In other news, insider Marcus Edwards-Jones purchased 1,000,000 shares of the stock in a transaction dated Thursday, December 11th. The stock was acquired at an average cost of GBX 2 per share, for a total transaction of £20,000. Also, insider Ryan McDermott purchased 550,000 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was bought at an average cost of GBX 2 per share, for a total transaction of £11,000. In the last 90 days, insiders purchased 3,520,719 shares of company stock worth $7,041,438. 3.14% of the stock is currently owned by corporate insiders.

Phoenix Copper Company Profile

Phoenix Copper Limited is a North American focused, base and precious metal explorer and developer, with operations near Mackay, Idaho in the Alder Creek mining district. This district includes the historical Empire, Horseshoe, White Knob and Blue Bird Mines, which produced copper at head grades of 6-8% prior to ceasing production in the 1940s. The focus of Phoenix is on bringing an open pit containing copper oxides at empire into production, and using the cashflow generated to progress exploration of the potentially significant copper sulphide deposit beneath.