Parallel Mining (CVE:PAL) Shares Up 7.1% – What’s Next?

Parallel Mining Corp. (CVE:PAL) rose 7.1% during mid-day trading on Friday . The company traded as high as C$0.15 and last traded at C$0.15. Approximately 180,200 shares traded hands during trading, an increase of 337% from the average daily volume of 41,250 shares. The stock had previously closed at C$0.14.

Parallel Mining Trading Up 7.1 %

The company has a quick ratio of 0.48, a current ratio of 0.81 and a debt-to-equity ratio of 78.11. The firm has a market cap of C$3.02 million and a P/E ratio of -1.53. The firm’s 50-day simple moving average is C$0.15 and its 200 day simple moving average is C$0.15.

Parallel Mining Company Profile

Parallel Mining Corp. acquires, explores for, develops, exploits, and evaluates base and precious metal properties in Canada and Africa. It holds an option to acquire a 100% interest in the Mane II gold property covering an area of 163 square kilometers located in the Kaya-Goren greenstone belt in Ouagadougou, Burkina Faso.