Geomega Resources (CVE:GMA) Trading 23.5% Higher – Should You Buy?

Geomega Resources Inc. (CVE:GMA) rose 23.5% on Tuesday . The stock traded as high as C$0.11 and last traded at C$0.11. Approximately 329,284 shares were traded during trading, an increase of 480% from the average daily volume of 56,766 shares. The stock had previously closed at C$0.09.

Geomega Resources Stock Up 5.6 %

The stock’s 50-day moving average price is C$0.09 and its 200-day moving average price is C$0.09. The company has a current ratio of 2.17, a quick ratio of 6.08 and a debt-to-equity ratio of 62.12. The company has a market cap of C$13.62 million, a P/E ratio of -9.50 and a beta of 1.88.

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.