Velocity Minerals (CVE:VLC) Stock Price Up 10% – Still a Buy?

Velocity Minerals Ltd. (CVE:VLC)’s share price shot up 10% on Friday . The company traded as high as C$0.22 and last traded at C$0.22. 77,000 shares traded hands during mid-day trading, an increase of 27% from the average session volume of 60,823 shares. The stock had previously closed at C$0.20.

Velocity Minerals Trading Up 10.0%

The company has a quick ratio of 5.93, a current ratio of 4.00 and a debt-to-equity ratio of 0.42. The firm has a market cap of C$45.00 million, a P/E ratio of -22.00 and a beta of 0.79. The company’s 50 day simple moving average is C$0.20 and its 200-day simple moving average is C$0.21.

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.