Geomega Resources (CVE:GMA) Stock Price Down 5.3% – Here’s What Happened

Geomega Resources Inc. (CVE:GMA)’s stock price dropped 5.3% during trading on Friday . The company traded as low as C$0.09 and last traded at C$0.09. Approximately 49,513 shares traded hands during mid-day trading, a decline of 32% from the average daily volume of 73,147 shares. The stock had previously closed at C$0.10.

Geomega Resources Stock Down 5.3 %

The company has a current ratio of 2.17, a quick ratio of 6.08 and a debt-to-equity ratio of 62.12. The business has a 50-day moving average price of C$0.09 and a 200 day moving average price of C$0.10. The stock has a market capitalization of C$12.91 million, a P/E ratio of -9.50 and a beta of 1.88.

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.