GFG Resources (CVE:GFG) Shares Down 10.8% – Here’s What Happened

Shares of GFG Resources Inc (CVE:GFG) dropped 10.8% during mid-day trading on Friday . The stock traded as low as C$0.16 and last traded at C$0.17. Approximately 741,125 shares were traded during mid-day trading, an increase of 359% from the average daily volume of 161,617 shares. The stock had previously closed at C$0.19.

GFG Resources Stock Down 10.8 %

The firm has a market cap of C$39.69 million, a price-to-earnings ratio of -3.30 and a beta of 2.21. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.66 and a quick ratio of 2.98. The stock has a 50-day moving average of C$0.16 and a 200-day moving average of C$0.13.

About GFG Resources

GFG Resources Inc engages in the acquisition, exploration, and development of mineral properties in Canada and the United States. The company primarily explores for gold deposits. It holds interests in the Montclerg gold project consisting of 5 patented and 110 unpatented mining claims located near the east of Timmins; the Pen gold project covers an area of approximately 475 square kilometers located near the southwest of the prolific gold district and town of Timmins; and the Dore gold project covers an area of approximately 212 square kilometers located in Ontario.