Geomega Resources (CVE:GMA) Reaches New 52-Week High - Here's Why

Key Points

• Geomega Resources Inc. reached a new 52-week high, trading at C$0.45, up significantly from its previous close of C$0.36.
• The company's share price has increased by 27.8%, indicating strong market performance, with a trading volume of over 1.2 million shares.
• Geomega specializes in the acquisition and exploration of mining properties, focusing on rare earth elements and niobium deposits, particularly in its Montviel property in Canada.

Geomega Resources Inc. (CVE:GMA - )'s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$0.45 and last traded at C$0.44, with a volume of 1218840 shares. The stock had previously closed at C$0.36.

Geomega Resources Stock Up 27.8%

The business's 50 day moving average is C$0.29 and its 200-day moving average is C$0.21. The company has a debt-to-equity ratio of 62.12, a current ratio of 2.17 and a quick ratio of 6.08. The company has a market cap of C$68.43 million, a PE ratio of -25.56 and a beta of 3.13.

About Geomega Resources

Geomega Resources Inc engages in the acquisition, evaluation, and exploration of mining properties in Canada. The company primarily explores for rare earth elements and niobium deposits. It owns a 100% interest in the Montviel property comprising 106 mining claims covering an area of approximately 5,889 hectares located 100 km north of Lebel-surQuévillon and 45 km west of the Cree First Nation of Waswanipi.

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