GFG Resources (CVE:GFG) Shares Down 10.8% – Here’s What Happened

GFG Resources Inc (CVE:GFG) shares dropped 10.8% during trading on Friday . The company traded as low as C$0.16 and last traded at C$0.17. Approximately 741,125 shares changed hands during trading, an increase of 359% from the average daily volume of 161,617 shares. The stock had previously closed at C$0.19.

GFG Resources Stock Performance

The stock has a fifty day simple moving average of C$0.16 and a two-hundred day simple moving average of C$0.13. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.98 and a current ratio of 1.66. The stock has a market capitalization of C$39.69 million, a price-to-earnings ratio of -3.30 and a beta of 2.21.

About GFG Resources

GFG Resources Inc engages in the acquisition, exploration, and development of mineral properties in Canada and the United States. The company primarily explores for gold deposits. It holds interests in the Montclerg gold project consisting of 5 patented and 110 unpatented mining claims located near the east of Timmins; the Pen gold project covers an area of approximately 475 square kilometers located near the southwest of the prolific gold district and town of Timmins; and the Dore gold project covers an area of approximately 212 square kilometers located in Ontario.