Galantas Gold (CVE:GAL) Shares Down 2.4% – Here’s Why

Shares of Galantas Gold Co. (CVE:GAL) traded down 2.4% during trading on Friday . The company traded as low as C$0.38 and last traded at C$0.40. 328,479 shares traded hands during trading, a decline of 70% from the average session volume of 1,105,483 shares. The stock had previously closed at C$0.41.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group raised shares of Galantas Gold to a “moderate buy” rating in a research report on Monday, June 22nd. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy”.

Galantas Gold Stock Down 2.4%

The company has a current ratio of 1.74, a quick ratio of 0.65 and a debt-to-equity ratio of 11.03. The company has a 50-day simple moving average of C$0.44 and a 200 day simple moving average of C$0.33. The company has a market cap of C$331.85 million, a P/E ratio of -5.71 and a beta of 1.20.

About Galantas Gold

Galantas Gold Corporation engages in the acquisition, exploration, and development of gold properties primarily in Omagh, Northern Ireland. It primarily explores for gold, silver, and lead deposits. The company owns and operates a producing open-pit gold mine near Omagh, which covers an area of 189 square kilometers; and the Gairloch project that covering an area of 217 square kilometers located in the Gairloch Schist Belt. The company was formerly known as European Gold Resources Inc and changed its name to Galantas Gold Corporation in May 2004.