Galantas Gold (CVE:GAL) Stock Price Down 9.8% - Here's What Happened

Key Points

• Galantas Gold shares fell 9.8% on Friday, trading as low as C$0.54 before closing at C$0.55.
• Trading volume was unusually high, with nearly 5.0 million shares changing hands, about 23% above the average session volume.
• The company’s financial metrics show some pressure, including a debt-to-equity ratio of 76.55 and a current ratio of 0.08, while its market cap stood at C$252.38 million.

Galantas Gold Co. (CVE:GAL - ) shares fell 9.8% during trading on Friday . The company traded as low as C$0.54 and last traded at C$0.55. 4,992,433 shares changed hands during trading, an increase of 23% from the average session volume of 4,057,833 shares. The stock had previously closed at C$0.61.

Galantas Gold Trading Down 9.8%

The company has a debt-to-equity ratio of 76.55, a current ratio of 0.08 and a quick ratio of 0.65. The business has a 50 day moving average of C$0.25 and a 200 day moving average of C$0.18. The firm has a market capitalization of C$252.38 million, a price-to-earnings ratio of -7.86 and a beta of 1.23.

Galantas Gold Company Profile

Galantas Gold Corporation engages in the acquisition, exploration, and development of gold properties primarily in Omagh, Northern Ireland. It primarily explores for gold, silver, and lead deposits. The company owns and operates a producing open-pit gold mine near Omagh, which covers an area of 189 square kilometers; and the Gairloch project that covering an area of 217 square kilometers located in the Gairloch Schist Belt. The company was formerly known as European Gold Resources Inc and changed its name to Galantas Gold Corporation in May 2004.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.