Group Eleven Resources (CVE:ZNG) Trading Down 4.5% - Here's Why

Key Points

• Group Eleven Resources Corp. (CVE:ZNG) shares fell 4.5% to C$0.32, with a trading volume increase of 73% compared to the average session.
• The company's market cap is C$82.46 million and it has a PE ratio of -10.67, indicating potential financial instability.
• Group Eleven Resources is focused on mineral exploration in Ireland, primarily targeting zinc, lead, and silver deposits.

Shares of Group Eleven Resources Corp. (CVE:ZNG - Get Free Report) fell 4.5% during trading on Wednesday . The stock traded as low as C$0.31 and last traded at C$0.32. 276,499 shares traded hands during mid-day trading, an increase of 73% from the average session volume of 159,584 shares. The stock had previously closed at C$0.34.

Group Eleven Resources Stock Performance

The company's fifty day moving average price is C$0.34 and its 200 day moving average price is C$0.28. The company has a market cap of C$86.33 million, a PE ratio of -16.75 and a beta of 2.08. The company has a debt-to-equity ratio of 0.43, a current ratio of 6.66 and a quick ratio of 2.73.

Group Eleven Resources Company Profile

Group Eleven Resources Corp. engages in the acquisition, exploration, and evaluation of mineral properties in Ireland. The company primarily explores for zinc, lead, and silver deposits. It owns 100% interest in the Silvermines project comprising two prospecting licenses (PLs) covering an area of 43.0 square kilometers located in the northern County Tipperary; the PG West project that consists of 22 PLs covering an area of 650 square kilometers located in the Limerick region.