Abcourt Mines (CVE:ABI) Trading Up 66.7% - Still a Buy?

Key Points

• Abcourt Mines Inc. experienced a significant stock surge of 66.7%, trading at C$0.08 after closing at C$0.05 previously.
• The trading volume drastically increased to 8.8 million shares, reflecting a 1,957% rise compared to the average session volume.
• The company, which focuses on gold mining properties in Canada, has a current market capitalization of approximately C$59.96 million and a negative price-to-earnings ratio of -4.56.

Shares of Abcourt Mines Inc. (CVE:ABI - Get Free Report) were up 66.7% during mid-day trading on Saturday . The stock traded as high as C$0.08 and last traded at C$0.08. Approximately 8,814,002 shares changed hands during mid-day trading, an increase of 1,957% from the average daily volume of 428,392 shares. The stock had previously closed at C$0.05.

Abcourt Mines Trading Up 7.1%

The firm has a market cap of C$59.96 million, a price-to-earnings 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 firm's fifty day moving average is C$0.05 and its 200-day moving average is C$0.05.

About Abcourt Mines

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.