Forsys Metals (TSE:FSY) Stock Price Down 16.7% - Here's Why

Key Points

• Forsys Metals Corp. (TSE:FSY) shares dropped 16.7% on Monday, closing at C$0.55 after previously trading as low as C$0.53.
• The trading volume during midday was 506,639 shares, a significant increase of 129% compared to its average session volume.
• Forsys Metals focuses on the exploration and development of uranium and gold properties, with a principal aim to bring its wholly-owned Norasa Uranium Project into production.

Forsys Metals Corp. (TSE:FSY - ) shares fell 16.7% on Monday . The company traded as low as C$0.53 and last traded at C$0.55. 506,639 shares changed hands during mid-day trading, an increase of 129% from the average session volume of 221,435 shares. The stock had previously closed at C$0.66.

Forsys Metals Trading Down 16.7%

The company's 50 day moving average is C$0.55 and its 200 day moving average is C$0.56. The stock has a market capitalization of C$115.87 million, a price-to-earnings ratio of -55.00 and a beta of -0.41.

About Forsys Metals

Forsys Metals Corp is involved in the business of exploring, acquiring and developing mineral properties. The group has determined that it has one operating segment, the acquisition, exploration, and development of uranium and gold mineral properties. Its principal focus is on bringing its wholly-owned Norasa Uranium Project into production.

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.