Geomega Resources (CVE:GMA) Trading 45.5% Higher – Here’s Why

Geomega Resources Inc. (CVE:GMA)’s share price was up 45.5% on Wednesday . The company traded as high as C$0.17 and last traded at C$0.16. Approximately 1,006,071 shares changed hands during mid-day trading, an increase of 1,197% from the average daily volume of 77,591 shares. The stock had previously closed at C$0.11.

Geomega Resources Stock Up 45.5 %

The firm has a market cap of C$22.94 million, a PE ratio of -16.00 and a beta of 1.88. The company has a 50-day simple moving average of C$0.09 and a 200-day simple moving average of C$0.09. The company has a debt-to-equity ratio of 62.12, a current ratio of 2.17 and a quick ratio of 6.08.

About Geomega Resources

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.