GFG Resources (CVE:GFG) Shares Down 10.8% – Time to Sell?

GFG Resources Inc (CVE:GFG)’s share price dropped 10.8% 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 Price Performance

The company’s 50-day moving average is C$0.16 and its 200-day moving average is C$0.13. The firm has a market cap of C$39.69 million, a price-to-earnings ratio of -3.30 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.