Geomega Resources (CVE:GMA) Stock Price Down 7.7% - Here's What Happened

Key Points

• Geomega Resources Inc. shares experienced a 7.7% decline, trading at C$0.42, with an increased trading volume of 675,113 shares.
• The company, which focuses on the exploration of rare earth elements and niobium deposits, has a market cap of C$62.48 million.
• Geomega Resources holds a 100% interest in the Montviel property, encompassing 106 mining claims over approximately 5,889 hectares in Canada.

Geomega Resources Inc. (CVE:GMA - ) shares fell 7.7% during mid-day trading on Wednesday . The company traded as low as C$0.42 and last traded at C$0.42. 675,113 shares traded hands during trading, an increase of 358% from the average session volume of 147,490 shares. The stock had previously closed at C$0.46.

Geomega Resources Stock Performance

The company has a quick ratio of 6.08, a current ratio of 2.17 and a debt-to-equity ratio of 62.12. The stock has a market cap of C$62.48 million, a P/E ratio of -23.33 and a beta of 3.13. The stock has a fifty day simple moving average of C$0.30 and a 200-day simple moving average of C$0.21.

Geomega Resources Company Profile

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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