GFG Resources (CVE:GFG) Stock Price Down 10.8% – Here’s Why

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

GFG Resources Stock Performance

The company has a 50-day moving average of C$0.16 and a 200-day moving average of C$0.13. The firm has a market capitalization of C$44.51 million, a price-to-earnings ratio of -3.70 and a beta of 2.21. The company has a current ratio of 1.66, a quick ratio of 2.98 and a debt-to-equity ratio of 0.19.

GFG Resources Company Profile

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.