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

GFG Resources Inc (CVE:GFG)’s share price dropped 10.8% during trading on Friday . The company traded as low as C$0.16 and last traded at C$0.17. Approximately 741,125 shares traded hands 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 Performance

The business has a fifty day moving average price of C$0.16 and a 200-day moving average price of C$0.13. The company has a quick ratio of 2.98, a current ratio of 1.66 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of C$39.69 million, a P/E ratio of -3.30 and a beta of 2.21.

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.