Phoenix Copper (LON:PXC) Stock Price Up 22% – Time to Buy?

Phoenix Copper Limited (LON:PXC) shares were up 22% on Tuesday . The company traded as high as GBX 1.25 and last traded at GBX 1.25. Approximately 2,586,297 shares changed hands during trading, a decline of 40% from the average daily volume of 4,318,350 shares. The stock had previously closed at GBX 1.03.

Phoenix Copper Stock Performance

The stock’s 50-day simple moving average is GBX 2.24 and its 200-day simple moving average is GBX 2.57. The stock has a market cap of £3.37 million, a price-to-earnings ratio of -0.35 and a beta of 1.75. The company has a current ratio of 0.65, a quick ratio of 13.42 and a debt-to-equity ratio of 5.51.

Insider Activity

In other Phoenix Copper news, insider Ryan McDermott acquired 550,000 shares of Phoenix Copper stock in a transaction that occurred on Thursday, December 11th. The shares were acquired at an average cost of GBX 2 per share, with a total value of £11,000. Also, insider Richard Wilkins bought 550,000 shares of the stock in a transaction on Thursday, December 11th. The shares were acquired at an average cost of GBX 2 per share, with a total value of £11,000. Over the last ninety days, insiders acquired 3,520,719 shares of company stock valued at $7,041,438. 3.14% of the stock is owned by insiders.

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.