Velocity Minerals (CVE:VLC) Shares Down 6.3% – Here’s What Happened

Shares of Velocity Minerals Ltd. (CVE:VLC) traded down 6.3% during mid-day trading on Wednesday . The stock traded as low as C$0.15 and last traded at C$0.15. 55,000 shares were traded during mid-day trading, an increase of 77% from the average session volume of 31,050 shares. The stock had previously closed at C$0.16.

Velocity Minerals Price Performance

The company has a current ratio of 4.00, a quick ratio of 5.93 and a debt-to-equity ratio of 0.42. The company has a 50 day moving average of C$0.17 and a 200 day moving average of C$0.15. The firm has a market cap of C$29.45 million, a price-to-earnings ratio of -15.00 and a beta of 1.12.

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.