Group Eleven Resources (CVE:ZNG) Shares Up 9% - What's Next?

Key Points

• Shares jumped 9% intraday, trading as high as C$1.28 and last at C$1.21 after a C$1.11 close, on 266,642 shares (about 23% below average volume).
• Balance-sheet and technicals show a quick ratio of 2.73, current ratio of 6.66 and debt/equity of 0.43 with a market cap of C$313.7M; the stock has a negative P/E (-60) and a beta of 2.89, and its 50-/200-day SMAs (C$0.94/C$0.68) point to recent strength.
• Mineral explorer focused on zinc, lead and silver in Ireland, holding major interests in projects including Silvermines (100%), PG West, Ballinalack (60%) and Stonepark (76.56%).

Group Eleven Resources Corp. (CVE:ZNG - )'s share price shot up 9% during trading on Thursday . The stock traded as high as C$1.28 and last traded at C$1.21. 266,642 shares changed hands during trading, a decline of 23% from the average session volume of 346,129 shares. The stock had previously closed at C$1.11.

Group Eleven Resources Price Performance

The company has a quick ratio of 2.73, a current ratio of 6.66 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of C$313.74 million, a price-to-earnings ratio of -60.00 and a beta of 2.89. The company's 50-day simple moving average is C$0.94 and its 200 day simple moving average is C$0.68.

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. The company also holds 60% interest in the Ballinalack project, which comprises 5 PLs covering an area of 169.0 square kilometers located in northeast Ireland; and 76.56% interest in the Stonepark project comprising 6 PLs covering an area of 183.6 square kilometers located in County Limerick, Ireland.

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