Sunrise Resources (LON:SRES) Shares Down 15.8% – Here’s Why

Sunrise Resources plc (LON:SRES) fell 15.8% during mid-day trading on Monday . The company traded as low as GBX 0.02 ($0.00) and last traded at GBX 0.02 ($0.00). 20,132,318 shares changed hands during trading, an increase of 134% from the average session volume of 8,619,966 shares. The stock had previously closed at GBX 0.02 ($0.00).

Sunrise Resources Stock Performance

The business’s 50-day moving average is GBX 0.02 and its two-hundred day moving average is GBX 0.03. The company has a current ratio of 0.71, a quick ratio of 3.18 and a debt-to-equity ratio of 12.48.

Sunrise Resources (LON:SRES) last posted its earnings results on Monday, February 17th. The company reported GBX (0.02) ($0.00) earnings per share (EPS) for the quarter. Equities research analysts predict that Sunrise Resources plc will post -2 EPS for the current fiscal year.

Insider Activity

In other news, insider James Cole acquired 39,764,880 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was acquired at an average price of GBX 2 ($0.03) per share, for a total transaction of £795,297.60 ($1,028,180.48). Insiders own 21.11% of the company’s stock.

About Sunrise Resources

Sunrise Resources plc engages in the acquisition, exploration, and development of mineral projects in the United States and Western Australia. The company explores for gold, copper, silver, lead, zinc, precious metal, base metal, and industrial mineral projects. It mines at CS Pozzolan-Perlite project located in Nevada, the United States, as well as holds leases/option agreement in the Jackson Wash project located in Nevada, the United States.