Portofino Resources (CVE:POR) Trading Up 50% – Should You Buy?

Portofino Resources Inc. (CVE:POR)’s share price was up 50% on Wednesday . The stock traded as high as C$0.02 and last traded at C$0.02. Approximately 991,500 shares were traded during mid-day trading, an increase of 204% from the average daily volume of 326,261 shares. The stock had previously closed at C$0.01.

Portofino Resources Stock Performance

The stock has a market cap of C$1.75 million, a P/E ratio of -1.92 and a beta of 1.55. The firm’s fifty day moving average price is C$0.01 and its two-hundred day moving average price is C$0.01. The company has a debt-to-equity ratio of -17.88, a current ratio of 0.13 and a quick ratio of 0.28.

Portofino Resources Company Profile

Portofino Resources Inc acquires, explores for, and develops mineral properties in the Americas. The company holds an option to acquire 100% interests in the Sapawe West property that comprises various claims totaling 1,147 hectares located in the Schwenger and McCaul Townships, Ontario; the Gold Creek property comprising various mining claims containing various contiguous cell units covering an area of approximately 4,036 hectares located primarily in the Duckworth Township, Ontario; and the Melema West gold property covering an area of 869 hectares located to the northeast of the town of Atikokan, Ontario.