Velocity Minerals (CVE:VLC) Shares Down 5.6% – Should You Sell?

Velocity Minerals Ltd. (CVE:VLC)’s share price traded down 5.6% during trading on Thursday . The stock traded as low as C$0.17 and last traded at C$0.17. 3,500 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 33,984 shares. The stock had previously closed at C$0.18.

Velocity Minerals Trading Down 5.6 %

The company has a debt-to-equity ratio of 0.42, a current ratio of 4.00 and a quick ratio of 5.93. The firm has a fifty day simple moving average of C$0.17 and a two-hundred day simple moving average of C$0.13. The firm has a market capitalization of C$33.37 million, a P/E ratio of -15.00 and a beta of 1.12.

Velocity Minerals Company Profile

Velocity Minerals Ltd., a gold exploration and development company, engages in the acquisition, exploration, and evaluation of mineral resource properties in Bulgaria. It explores for gold and copper deposits. The company holds 70% interest in the Tintyava property, which includes the Rozino gold project located in the municipalities of Ivaylovgrad and Krumovgrad in southeast Bulgaria; the Momchil property, which includes the Obichnik gold project located within the municipality of Momchilgrad in southeast, Bulgaria; and a 100% interest in the Iglika property covering an area of 105 square kilometers located in southeast Bulgaria.