GoviEx Uranium (CVE:GXU) Shares Down 23.1% – Here’s Why

Shares of GoviEx Uranium Inc. (CVE:GXU) dropped 23.1% during trading on Thursday . The stock traded as low as C$0.05 and last traded at C$0.05. Approximately 3,034,173 shares traded hands during trading, an increase of 85% from the average daily volume of 1,642,725 shares. The stock had previously closed at C$0.07.

GoviEx Uranium Stock Performance

The firm’s 50 day moving average price is C$0.04 and its two-hundred day moving average price is C$0.06. The company has a market cap of C$22.50 million, a P/E ratio of -0.33 and a beta of 1.50.

GoviEx Uranium Company Profile

GoviEx Uranium Inc, a mineral resources company, engages in the acquisition, exploration, and development of uranium properties in Africa. The company's principal asset is the Madaouela project which holds 80% interest located in north-central Niger. It also owns 100% interest in the Muntanga project that consists of 3 mining licenses situated to the south of Lusaka, Zambia; and the Falea project, which consists of three exploration licenses located in Mali.