Galway Metals (CVE:GWM) Trading Down 13.8% - Here's Why

Key Points

• Galway Metals Inc. experienced a significant drop of 13.8% in its stock price, trading as low as C$0.55 during a mid-day session.
• Trading volume was exceptionally high with approximately 949,736 shares exchanged, marking an increase of 1,090% from its average daily volume.
• The company focuses on the acquisition and exploration of mineral resources, primarily gold, zinc, copper, silver, and lead, with notable projects in Canada.

Galway Metals Inc. (CVE:GWM - Get Free Report) shares were down 13.8% during trading on Saturday . The company traded as low as C$0.55 and last traded at C$0.56. Approximately 949,736 shares changed hands during mid-day trading, an increase of 1,090% from the average daily volume of 79,816 shares. The stock had previously closed at C$0.65.

Galway Metals Stock Performance

The company has a market cap of C$53.42 million, a PE ratio of -7.00 and a beta of 2.44. The company has a current ratio of 3.16, a quick ratio of 4.81 and a debt-to-equity ratio of 1.08. The stock has a 50 day moving average price of C$0.41 and a 200 day moving average price of C$0.42.

About Galway Metals

Galway Metals Inc engages in the acquisition, exploration, and development of mineral resource properties in Canada. The company primarily explores for gold, zinc, copper, silver, and lead deposits. It holds a 100% interest in the Clarence Stream project located in southwest New Brunswick, Canada; and Estrades mine, related Newiska concessions, and adjacent Casa Berardi claims located in western Quebec, Canada.