Abcourt Mines (CVE:ABI) Shares Up 55.6% - Here's Why

Key Points

• Abcourt Mines Inc. experienced a substantial **55.6% increase** in stock price during trading, rising from C$0.05 to as high as C$0.08, with **7.49 million shares** traded, marking a **1,688% increase** in volume.
• The company's market capitalization stands at **C$59.96 million** with a P/E ratio of **-4.56**, and it primarily focuses on the **acquisition and exploration of gold, silver, and zinc mining properties** in Canada.
• Abcourt Mines has a **negative debt-to-equity ratio** of **-32.13**, suggesting a strong financial position due to low debt levels relative to equity.

Abcourt Mines Inc. (CVE:ABI - )'s stock price shot up 55.6% during trading on Friday . The stock traded as high as C$0.08 and last traded at C$0.07. 7,494,108 shares were traded during mid-day trading, an increase of 1,688% from the average session volume of 419,201 shares. The stock had previously closed at C$0.05.

Abcourt Mines Trading Up 66.7%

The company has a market capitalization of C$59.96 million, a P/E ratio of -4.56 and a beta of 1.57. The company has a debt-to-equity ratio of -32.13, a current ratio of 0.67 and a quick ratio of 0.44. The business's 50-day moving average price is C$0.05 and its two-hundred day moving average price is C$0.05.

Abcourt Mines Company Profile

Abcourt Mines Inc engages in the acquisition, exploration, evaluation, and exploitation of gold mining properties in Canada. It also explores for silver and zinc deposits. Abcourt Mines Inc was incorporated in 1971 and is headquartered in Rouyn-Noranda, Canada.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.