Blencowe Resources (LON:BRES) Stock Price Down 9.1% – Should You Sell?

Shares of Blencowe Resources Plc (LON:BRES) dropped 9.1% during trading on Tuesday . The company traded as low as GBX 3.75 ($0.05) and last traded at GBX 3.75 ($0.05). Approximately 125,330 shares traded hands during trading, a decline of 74% from the average daily volume of 485,889 shares. The stock had previously closed at GBX 4.13 ($0.05).

Blencowe Resources Stock Down 9.1 %

The company’s 50-day simple moving average is GBX 3.90 and its two-hundred day simple moving average is GBX 4.48. The firm has a market capitalization of £8.49 million, a P/E ratio of -375.00 and a beta of 0.87. The company has a debt-to-equity ratio of 14.00, a current ratio of 0.45 and a quick ratio of 3.57.

Blencowe Resources Company Profile

Blencowe Resources Plc engages in the acquisition, development, and exploration of graphite properties in Northern Uganda. It holds a 100% interest in the Orom-Cross Graphite project covering an area of approximately 520,000 hectares located in Northern Uganda. The company was formerly known as Cora Gold Limited and changed its name to Blencowe Resources Limited in September 2017.