Geomega Resources (CVE:GMA) Trading 17.6% Higher – Here’s What Happened

Geomega Resources Inc. (CVE:GMA)’s share price shot up 17.6% during trading on Thursday . The company traded as high as C$0.10 and last traded at C$0.10. 108,000 shares traded hands during trading, an increase of 112% from the average session volume of 50,907 shares. The stock had previously closed at C$0.09.

Geomega Resources Trading Up 5.9 %

The company has a debt-to-equity ratio of 62.12, a current ratio of 2.17 and a quick ratio of 6.08. The business has a 50 day moving average of C$0.09 and a 200 day moving average of C$0.09. The firm has a market capitalization of C$12.91 million, a price-to-earnings ratio of -9.00 and a beta of 1.88.

Geomega Resources Company Profile

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.