Novo Resources Corp. (NVO.V) (CVE:NVO) Shares Down 0.4% – Should You Sell?

Novo Resources Corp. (NVO.V) (CVE:NVO)’s stock price traded down 0.4% on Tuesday . The stock traded as low as C$2.37 and last traded at C$2.38. 311,570 shares traded hands during trading, an increase of 14% from the average session volume of 273,252 shares. The stock had previously closed at C$2.39.

Novo Resources Corp. (NVO.V) Stock Performance

The company has a current ratio of 2.78, a quick ratio of 2.57 and a debt-to-equity ratio of 11.62. The company’s 50-day moving average price is C$2.38 and its two-hundred day moving average price is C$2.38. The company has a market cap of C$548.24 million and a P/E ratio of -21.25.

Novo Resources Corp. (NVO.V) Company Profile

Novo Resources Corp., together with its subsidiaries, engages in evaluating, acquiring, and exploring natural resource properties in Canada, Australia, and the United States. It primarily explores for gold deposits. The company primarily focuses on the Egina and Beatons Creek projects in the Pilbara region of Western Australia.