Phoenix Copper (LON:PXC) Shares Up 9.3% – Time to Buy?

Phoenix Copper Limited (LON:PXC)’s stock price shot up 9.3% during mid-day trading on Wednesday . The company traded as high as GBX 1.30 and last traded at GBX 1.20. 3,000,445 shares traded hands during trading, an increase of 12% from the average session volume of 2,687,337 shares. The stock had previously closed at GBX 1.10.

Phoenix Copper Stock Down 5.8%

The company has a debt-to-equity ratio of 12.96, a quick ratio of 13.42 and a current ratio of 1.55. The business’s 50 day simple moving average is GBX 1.12 and its 200-day simple moving average is GBX 1.84. The company has a market cap of £3.38 million, a price-to-earnings ratio of -0.34 and a beta of 0.39.

About Phoenix Copper

Phoenix Copper Limited is a North American focused, base and precious metal explorer and developer, with operations near Mackay, Idaho in the Alder Creek mining district. This district includes the historical Empire, Horseshoe, White Knob and Blue Bird Mines, which produced copper at head grades of 6-8% prior to ceasing production in the 1940s. The focus of Phoenix is on bringing an open pit containing copper oxides at empire into production, and using the cashflow generated to progress exploration of the potentially significant copper sulphide deposit beneath.