Geomega Resources (CVE:GMA) Trading 15.8% Higher – Here’s Why

Geomega Resources Inc. (CVE:GMA)’s stock price rose 15.8% on Thursday . The stock traded as high as C$0.11 and last traded at C$0.11. Approximately 15,500 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 49,852 shares. The stock had previously closed at C$0.10.

Geomega Resources Stock Performance

The stock has a market cap of C$15.77 million, a P/E ratio of -11.00 and a beta of 1.88. The stock has a fifty day simple moving average of C$0.09 and a 200-day simple moving average of C$0.09. The company has a quick ratio of 6.08, a current ratio of 2.17 and a debt-to-equity ratio of 62.12.

Geomega Resources Company Profile

Geomega Resources Inc engages in the acquisition, evaluation, and exploration of mining properties in Canada. The company primarily explores for rare earth elements and niobium deposits. It owns a 100% interest in the Montviel property comprising 106 mining claims covering an area of approximately 5,889 hectares located 100 km north of Lebel-surQuévillon and 45 km west of the Cree First Nation of Waswanipi.