Geomega Resources (CVE:GMA) Stock Price Up 23.5% – Time to Buy?

Geomega Resources Inc. (CVE:GMA) shares traded up 23.5% during trading on Tuesday . The company traded as high as C$0.11 and last traded at C$0.11. 329,284 shares changed hands during mid-day trading, an increase of 480% from the average session volume of 56,766 shares. The stock had previously closed at C$0.09.

Geomega Resources Stock Performance

The company has a fifty day moving average price of C$0.09 and a two-hundred day moving average price of C$0.09. The firm has a market cap of C$13.62 million, a price-to-earnings ratio of -9.50 and a beta of 1.88. The company has a debt-to-equity ratio of 62.12, a current ratio of 2.17 and a quick ratio of 6.08.

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.