Mirasol Resources (CVE:MRZ) Sets New 12-Month Low – Should You Sell?

Mirasol Resources Ltd. (CVE:MRZ)’s share price reached a new 52-week low during mid-day trading on Monday. The stock traded as low as C$0.30 and last traded at C$0.30, with a volume of 111800 shares changing hands. The stock had previously closed at C$0.32.

Mirasol Resources Price Performance

The firm has a market capitalization of C$26.58 million, a P/E ratio of -5.00 and a beta of 1.45. The stock’s 50 day simple moving average is C$0.32 and its 200 day simple moving average is C$0.36. The company has a debt-to-equity ratio of 18,146.41, a quick ratio of 8.86 and a current ratio of 0.41.

Insider Transactions at Mirasol Resources

In other news, insider Glenn Pountney acquired 154,000 shares of Mirasol Resources stock in a transaction on Wednesday, August 19th. The shares were bought at an average cost of C$0.33 per share, for a total transaction of C$50,820.00. Following the acquisition, the insider directly owned 16,151,000 shares of the company’s stock, valued at C$5,329,830. This trade represents a 0.96% increase in their position. Insiders purchased a total of 571,500 shares of company stock valued at $184,885 over the last quarter. 42.13% of the stock is owned by corporate insiders.

Mirasol Resources Company Profile

Mirasol Resources Ltd. engages in the acquisition and exploration of mineral properties primarily in Chile and Argentina. The company explores for gold, silver, and copper deposits. Its flagship projects include the Sobek Cu project, which covers an area of 11,100 hectares located in northern Chile; and the Inca Gold that covers an area of 16,300 hectares located on the Paleocene belt of Chile. The company was incorporated in 2003 and is headquartered in Vancouver, Canada.