Geomega Resources (CVE:GMA) Trading Down 1.6% – Should You Sell?

Geomega Resources Inc. (CVE:GMA)’s share price dropped 1.6% during mid-day trading on Thursday . The company traded as low as C$0.31 and last traded at C$0.32. Approximately 28,960 shares traded hands during trading, a decline of 84% from the average daily volume of 180,652 shares. The stock had previously closed at C$0.32.

Geomega Resources Stock Down 7.9%

The company’s 50 day moving average price is C$0.36 and its 200 day moving average price is C$0.33. The company has a quick ratio of 6.08, a current ratio of 2.17 and a debt-to-equity ratio of 62.12. The firm has a market capitalization of C$46.66 million, a price-to-earnings ratio of -72.50 and a beta of 3.19.

About Geomega Resources

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. The company was incorporated in 2008 and is headquartered in Boucherville, Canada.