Cantex Mine Development (CVE:CD) Shares Up 1.7% - Still a Buy?

Key Points

• Shares rose 1.7% to C$0.30 (intraday high C$0.31) on Friday, but trading volume was lower than usual at 66,700 shares versus an average of 121,438.
• Fundamentals show a market capitalization of C$81.55 million and a negative P/E of -14.75, with high leverage (debt-to-equity 6.38) offset by strong liquidity (quick ratio 2.53, current ratio 3.33).
• Cantex is a mineral exploration company targeting numerous metals and its main asset is the Yukon Metals Project, comprising 1,075 claim blocks (~21,500 hectares) in Canada.

Cantex Mine Development Corp. (CVE:CD - )'s stock price shot up 1.7% during mid-day trading on Friday . The company traded as high as C$0.31 and last traded at C$0.30. 66,700 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 121,438 shares. The stock had previously closed at C$0.29.

Cantex Mine Development Stock Up 1.7%

The company has a debt-to-equity ratio of 6.38, a quick ratio of 2.53 and a current ratio of 3.33. The company has a market capitalization of C$81.55 million, a price-to-earnings ratio of -14.75 and a beta of 1.35. The firm's 50-day simple moving average is C$0.25 and its 200-day simple moving average is C$0.20.

Cantex Mine Development Company Profile

Cantex Mine Development Corp. engages in acquiring, exploring, and developing mineral properties in Canada, Yemen, and the United States. The company explores gold, nickel, copper, lead, zinc, silver, manganese, cobalt, platinum, palladium, and rhodium deposits. Its primary project is the Yukon Metals Project with 1,075 claim blocks covering approximately 21,500 hectares. Cantex Mine Development Corp. is headquartered in Kelowna, Canada.

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