Red Pine Exploration (CVE:RPX) Shares Up 10.9% - Still a Buy?

Key Points

• Red Pine Exploration shares rose 10.9% on Friday, trading as high as C$0.21 and closing near C$0.20, with volume jumping to 1.44 million shares, well above the average session volume.
• The company’s market cap is about C$75.65 million, and its stock is sitting near its 50-day moving average of C$0.20, above the 200-day moving average of C$0.18.
• Red Pine Exploration focuses on mining property acquisition, exploration, and development in Canada, with its main asset being the Wawa Gold Project in northern Ontario.

Red Pine Exploration Inc. (CVE:RPX - ) shot up 10.9% during trading on Friday . The stock traded as high as C$0.21 and last traded at C$0.20. 1,437,506 shares changed hands during mid-day trading, an increase of 65% from the average session volume of 868,645 shares. The stock had previously closed at C$0.18.

Red Pine Exploration Trading Up 10.9%

The firm has a market cap of C$75.65 million, a P/E ratio of -6.77 and a beta of 0.65. The company has a 50 day moving average of C$0.20 and a 200 day moving average of C$0.18. The company has a debt-to-equity ratio of 7.35, a quick ratio of 2.10 and a current ratio of 3.52.

Red Pine Exploration Company Profile

Red Pine Exploration Inc engages in the acquisition, exploration, and development of mining properties in Canada. Its flagship project is the Wawa Gold Project that covers an area of 7,182 hectares located to the east of the Town of Wawa in northern Ontario. The company was formerly known as Vencan Gold Corporation and changed its name to Red Pine Exploration Inc in March 2009. Red Pine Exploration Inc was incorporated in 1936 and is headquartered in Toronto, Canada.

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