GFG Resources (CVE:GFG) Shares Down 10.8% – Here’s What Happened

GFG Resources Inc (CVE:GFG) fell 10.8% during mid-day trading on Thursday . The stock traded as low as C$0.16 and last traded at C$0.17. 741,125 shares traded hands during trading, an increase of 359% from the average session volume of 161,617 shares. The stock had previously closed at C$0.19.

GFG Resources Stock Down 10.8 %

The stock has a market cap of C$39.69 million, a price-to-earnings ratio of -3.30 and a beta of 2.21. The company has a quick ratio of 2.98, a current ratio of 1.66 and a debt-to-equity ratio of 0.19. The stock has a fifty day moving average of C$0.16 and a two-hundred day moving average of C$0.13.

GFG Resources Company Profile

GFG Resources Inc engages in the acquisition, exploration, and development of mineral properties in Canada and the United States. The company primarily explores for gold deposits. It holds interests in the Montclerg gold project consisting of 5 patented and 110 unpatented mining claims located near the east of Timmins; the Pen gold project covers an area of approximately 475 square kilometers located near the southwest of the prolific gold district and town of Timmins; and the Dore gold project covers an area of approximately 212 square kilometers located in Ontario.