Phoenix Copper (LON:PXC) Stock Price Up 17.1% – Here’s Why

Phoenix Copper Limited (LON:PXC)’s share price traded up 17.1% during mid-day trading on Tuesday . The stock traded as high as GBX 1.30 and last traded at GBX 1.20. 28,717,563 shares changed hands during mid-day trading, an increase of 461% from the average session volume of 5,117,828 shares. The stock had previously closed at GBX 1.03.

Phoenix Copper Stock Performance

The stock has a market cap of £3.46 million, a P/E ratio of -0.36 and a beta of 1.75. The company has a debt-to-equity ratio of 5.51, a current ratio of 0.65 and a quick ratio of 13.42. The company has a fifty day moving average of GBX 2.46 and a 200 day moving average of GBX 2.79.

Insider Transactions at Phoenix Copper

In other news, insider Ryan McDermott bought 550,000 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were purchased at an average cost of GBX 2 per share, with a total value of £11,000. Also, insider Catherine Evans purchased 1,420,719 shares of the company’s stock in a transaction on Thursday, December 11th. The stock was acquired at an average price of GBX 2 per share, for a total transaction of £28,414.38. Over the last ninety days, insiders acquired 3,520,719 shares of company stock worth $7,041,438. Corporate insiders own 3.14% of the company’s stock.

About Phoenix Copper

Phoenix Copper Limited is a North American focused, base and precious metal explorer and developer, with operations near Mackay, Idaho in the Alder Creek mining district. This district includes the historical Empire, Horseshoe, White Knob and Blue Bird Mines, which produced copper at head grades of 6-8% prior to ceasing production in the 1940s. The focus of Phoenix is on bringing an open pit containing copper oxides at empire into production, and using the cashflow generated to progress exploration of the potentially significant copper sulphide deposit beneath.