Phoenix Copper (LON:PXC) Shares Up 13% – Time to Buy?

Phoenix Copper Limited (LON:PXC)’s stock price rose 13% during mid-day trading on Thursday . The stock traded as high as GBX 1.30 and last traded at GBX 1.30. Approximately 293,813 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 3,818,479 shares. The stock had previously closed at GBX 1.15.

Phoenix Copper Stock Up 13.0%

The company has a quick ratio of 13.42, a current ratio of 1.55 and a debt-to-equity ratio of 12.96. The firm has a 50 day simple moving average of GBX 1.97 and a 200-day simple moving average of GBX 2.44. The stock has a market cap of £3.74 million, a P/E ratio of -0.39 and a beta of 0.42.

About Phoenix Copper

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.