Geomega Resources (CVE:GMA) Shares Down 1.6% – Here’s What Happened

Geomega Resources Inc. (CVE:GMA)’s share price traded down 1.6% on Friday . The stock traded as low as C$0.32 and last traded at C$0.32. 89,235 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 202,674 shares. The stock had previously closed at C$0.32.

Geomega Resources Trading Down 1.6%

The company has a debt-to-equity ratio of 62.12, a current ratio of 2.17 and a quick ratio of 6.08. The business has a fifty day moving average of C$0.35 and a 200-day moving average of C$0.34. The stock has a market capitalization of C$50.69 million, a price-to-earnings ratio of -78.75 and a beta of 3.01.

About Geomega Resources

Geomega Resources Inc engages in the acquisition, evaluation, and exploration of mining properties in Canada. The company primarily explores for rare earth elements and niobium deposits. It owns a 100% interest in the Montviel property comprising 106 mining claims covering an area of approximately 5,889 hectares located 100 km north of Lebel-surQuévillon and 45 km west of the Cree First Nation of Waswanipi. The company was incorporated in 2008 and is headquartered in Boucherville, Canada.