Group Eleven Resources (CVE:ZNG) Stock Falls 4.8% – Here’s Why

Group Eleven Resources Corp. (CVE:ZNG)’s stock price dropped 4.8% during mid-day trading on Thursday. The company traded as low as C$0.78 and last traded at C$0.79. 225,568 shares changed hands during trading, a decline of 3% from the average daily volume of 233,227 shares. The stock had previously closed at C$0.83.

Group Eleven Resources Price Performance

The firm has a 50-day moving average price of C$0.83 and a 200 day moving average price of C$0.94. The company has a debt-to-equity ratio of 0.43, a current ratio of 6.66 and a quick ratio of 2.73. The company has a market cap of C$224.19 million, a price-to-earnings ratio of -39.50 and a beta of 3.09.

Group Eleven Resources Company Profile

Group Eleven Resources Corp. engages in the acquisition, exploration, and evaluation of mineral properties in Ireland. The company primarily explores for zinc, lead, and silver deposits. It owns 100% interest in the Silvermines project comprising two prospecting licenses (PLs) covering an area of 43.0 square kilometers located in the northern County Tipperary; the PG West project that consists of 22 PLs covering an area of 650 square kilometers located in the Limerick region. The company also holds 60% interest in the Ballinalack project, which comprises 5 PLs covering an area of 169.0 square kilometers located in northeast Ireland; and 76.56% interest in the Stonepark project comprising 6 PLs covering an area of 183.6 square kilometers located in County Limerick, Ireland.