Geomega Resources (CVE:GMA) Trading 23.5% Higher – What’s Next?

Geomega Resources Inc. (CVE:GMA) shot up 23.5% on Wednesday . The stock traded as high as C$0.11 and last traded at C$0.11. 329,284 shares traded 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 Trading Up 5.6 %

The company has a quick ratio of 6.08, a current ratio of 2.17 and a debt-to-equity ratio of 62.12. The firm has a market capitalization of C$13.62 million, a price-to-earnings ratio of -9.50 and a beta of 1.88. The business has a 50-day moving average of C$0.09 and a two-hundred day moving average of C$0.09.

About Geomega Resources

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.