Velocity Minerals (CVE:VLC) Trading 12.5% Higher – Should You Buy?

Velocity Minerals Ltd. (CVE:VLC) was up 12.5% during mid-day trading on Friday . The stock traded as high as C$0.18 and last traded at C$0.18. Approximately 206,000 shares traded hands during trading, an increase of 238% from the average daily volume of 60,885 shares. The stock had previously closed at C$0.16.

Velocity Minerals Stock Up 12.5 %

The stock has a market cap of C$35.33 million, a price-to-earnings ratio of -15.00 and a beta of 1.12. The company has a debt-to-equity ratio of 0.42, a quick ratio of 5.93 and a current ratio of 4.00. The firm’s 50-day simple moving average is C$0.16 and its two-hundred day simple moving average is C$0.17.

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.