GFG Resources (CVE:GFG) Trading Down 10.8% – Here’s Why

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

GFG Resources Price Performance

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’s fifty day moving average is C$0.16 and its 200-day moving average is C$0.13. The stock has a market capitalization of C$39.69 million, a PE ratio of -3.30 and a beta of 2.21.

GFG Resources Company Profile

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.