Galway Metals (CVE:GWM) Stock Price Down 13.8% - Here's What Happened

Key Points

• Galway Metals Inc. experienced a significant stock decline of 13.8%, closing at C$0.56 from a previous C$0.65.
• Trading volume surged to 949,736 shares, marking a 1,090% increase from the average session volume.
• The company holds a market capitalization of C$53.42 million and a PE ratio of -7.00, indicating it is unprofitable at this time.

Galway Metals Inc. (CVE:GWM - Get Free Report) was 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 traded 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 Up 17.9%

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 company has a 50 day simple moving average of C$0.41 and a two-hundred day simple moving average of C$0.42. The firm has a market capitalization of C$62.96 million, a P/E ratio of -8.25 and a beta of 2.44.

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.