Blencowe Resources (LON:BRES) Shares Down 17.3% – Time to Sell?

Blencowe Resources Plc (LON:BRES)’s share price fell 17.3% during mid-day trading on Wednesday . The stock traded as low as GBX 2.80 ($0.04) and last traded at GBX 3.10 ($0.04). 1,526,604 shares changed hands during trading, an increase of 122% from the average session volume of 686,910 shares. The stock had previously closed at GBX 3.75 ($0.05).

Blencowe Resources Stock Performance

The company has a quick ratio of 3.57, a current ratio of 0.12 and a debt-to-equity ratio of 16.04. The stock has a fifty day simple moving average of GBX 3.68 and a 200-day simple moving average of GBX 4.01. The company has a market capitalization of £8.71 million, a P/E ratio of -6.81 and a beta of 0.87.

Blencowe Resources (LON:BRES) last released its quarterly earnings results on Friday, January 31st. The company reported GBX (0.45) (($0.01)) EPS for the quarter.

About Blencowe Resources

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.