Geomega Resources (CVE:GMA) Trading Up 23.5% – Time to Buy?

Geomega Resources Inc. (CVE:GMA)’s stock price rose 23.5% on Tuesday . The stock traded as high as C$0.11 and last traded at C$0.11. Approximately 329,284 shares changed hands during mid-day trading, an increase of 480% from the average daily volume of 56,766 shares. The stock had previously closed at C$0.09.

Geomega Resources Trading Up 5.6 %

The firm has a market capitalization of C$13.62 million, a price-to-earnings ratio of -9.50 and a beta of 1.88. The business’s 50 day moving average price is C$0.09 and its 200-day moving average price is C$0.09. The company has a debt-to-equity ratio of 62.12, a current ratio of 2.17 and a quick ratio of 6.08.

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.