GFG Resources (CVE:GFG) Shares Down 10.8% – What’s Next?

GFG Resources Inc (CVE:GFG)’s share price was down 10.8% during mid-day trading on Friday . The company traded as low as C$0.16 and last traded at C$0.17. Approximately 741,125 shares changed 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 Down 10.8 %

The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.98 and a current ratio of 1.66. The stock’s 50 day moving average price is C$0.16 and its 200-day moving average price is C$0.13. The company has a market cap of C$39.69 million, a PE 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.