Amarc Resources (CVE:AHR) Shares Down 19.1% – Here’s Why

Amarc Resources Ltd. (CVE:AHR)’s share price dropped 19.1% during trading on Saturday . The company traded as low as C$0.49 and last traded at C$0.55. Approximately 769,320 shares traded hands during trading, an increase of 45% from the average daily volume of 529,368 shares. The stock had previously closed at C$0.68.

Amarc Resources Price Performance

The company has a debt-to-equity ratio of 81.97, a quick ratio of 2.44 and a current ratio of 1.32. The firm has a fifty day simple moving average of C$0.50 and a two-hundred day simple moving average of C$0.29. The firm has a market cap of C$116.44 million, a PE ratio of -6.25 and a beta of 0.91.

Insider Activity

In other Amarc Resources news, Senior Officer Trevor Thomas bought 70,000 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were purchased at an average cost of C$0.71 per share, for a total transaction of C$49,700.00. Also, Director Terrance Barry Coughlan sold 50,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of C$0.64, for a total transaction of C$32,000.00. In the last ninety days, insiders sold 148,500 shares of company stock worth $91,395. 35.62% of the stock is currently owned by insiders.

About Amarc Resources

Amarc Resources Ltd. engages in the acquisition, exploration, and development of mineral properties in Canada. The company explores for copper, gold, silver, and molybdenum deposits. It holds 100% interest in the IKE project covering an area of 462 square kilometers located in the Gold Bridge, south-central British Columbia; the DUKE project covering an area of 678 square kilometers located northeast of Smithers, central British Columbia; and the JOY project covering an area of 492 square kilometers located in the Toodoggone region of north-central British Columbia.