Velocity Minerals (CVE:VLC) Sets New 52-Week High – Time to Buy?

Velocity Minerals Ltd. (CVE:VLC)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as C$0.21 and last traded at C$0.19, with a volume of 70026 shares trading hands. The stock had previously closed at C$0.18.

Velocity Minerals Stock Performance

The stock has a market cap of C$36.49 million, a PE ratio of -18.50 and a beta of 0.35. The stock has a fifty day moving average of C$0.18 and a 200-day moving average of C$0.18. The company has a quick ratio of 5.93, a current ratio of 4.00 and a debt-to-equity ratio of 0.42.

About Velocity Minerals

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.