GFG Resources (CVE:GFG) Shares Down 13.5% – Here’s What Happened

GFG Resources Inc (CVE:GFG)’s stock price was down 13.5% during trading on Thursday . The company traded as low as C$0.16 and last traded at C$0.16. Approximately 398,625 shares changed hands during mid-day trading, an increase of 147% from the average daily volume of 161,617 shares. The stock had previously closed at C$0.19.

GFG Resources Price Performance

The company has a current ratio of 1.66, a quick ratio of 2.98 and a debt-to-equity ratio of 0.19. The stock has a fifty day simple moving average of C$0.16 and a two-hundred day simple moving average of C$0.13. The company has a market cap of C$38.49 million, a PE ratio of -3.20 and a beta of 2.21.

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.