Novo Resources Corp. (NVO.V) (CVE:NVO) Shares Down 0.4% – Time to Sell?

Novo Resources Corp. (NVO.V) (CVE:NVO)’s share price was down 0.4% during mid-day trading on Tuesday . The stock traded as low as C$2.37 and last traded at C$2.38. Approximately 311,570 shares changed hands during mid-day trading, an increase of 14% from the average daily volume of 273,252 shares. The stock had previously closed at C$2.39.

Novo Resources Corp. (NVO.V) Stock Performance

The company has a debt-to-equity ratio of 11.62, a quick ratio of 2.57 and a current ratio of 2.78. The business’s 50-day moving average is C$2.38 and its 200-day moving average is C$2.38. The company has a market capitalization of C$548.24 million and a PE ratio of -21.25.

About Novo Resources Corp. (NVO.V)

Novo Resources Corp., together with its subsidiaries, engages in evaluating, acquiring, and exploring natural resource properties in Canada, Australia, and the United States. It primarily explores for gold deposits. The company primarily focuses on the Egina and Beatons Creek projects in the Pilbara region of Western Australia.