Max Resource (CVE:MXR) Shares Down 5.7% – Here’s Why

Max Resource Corp. (CVE:MXR)’s share price dropped 5.7% on Wednesday. The company traded as low as C$0.41 and last traded at C$0.41. Approximately 357,400 shares traded hands during mid-day trading, an increase of 25% from the average daily volume of 285,195 shares. The stock had previously closed at C$0.44.

Max Resource Stock Performance

The firm has a market capitalization of C$40.70 million and a price-to-earnings ratio of -6.69. The company has a 50 day moving average price of C$0.41 and a two-hundred day moving average price of C$0.41.

About Max Resource

Max Resource Corp. engages in the acquisition and exploration of mineral properties in Canada, Peru, and Colombia. The company holds interests in the Choco gold project covering 250 square kilometers; North Choco gold-copper project covering 250 square kilometers; Gachala copper project covering 164 square kilometers; Novita project covering 10,790 hectares located in Colombia; and Cesar copper silver project, which covers an area of approximately 2,000 hectares located in Colombia. It also holds 100% interest in the RT Gold property consists of two contiguous mineral concessions covering 1,983 hectares and sits along the Condor mountain chain of northern Peru.