Phoenix Copper (LON:PXC) Stock Price Up 9.4% – Still a Buy?

Phoenix Copper Limited (LON:PXC) rose 9.4% during trading on Thursday . The company traded as high as GBX 2 and last traded at GBX 1.91. Approximately 4,235,166 shares changed hands during mid-day trading, an increase of 152% from the average daily volume of 1,677,306 shares. The stock had previously closed at GBX 1.75.

Phoenix Copper Price Performance

The company has a market capitalization of £4.83 million, a PE ratio of -0.60 and a beta of 1.75. The company has a debt-to-equity ratio of 5.51, a quick ratio of 13.42 and a current ratio of 0.65. The stock has a 50 day moving average price of GBX 2.50 and a two-hundred day moving average price of GBX 3.24.

Insider Buying and Selling at Phoenix Copper

In other Phoenix Copper news, insider Ryan McDermott acquired 550,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was purchased at an average cost of GBX 2 per share, for a total transaction of £11,000. Also, insider Richard Wilkins bought 550,000 shares of the stock in a transaction on Thursday, December 11th. The shares were acquired at an average cost of GBX 2 per share, for a total transaction of £11,000. Over the last ninety days, insiders purchased 3,520,719 shares of company stock valued at $7,041,438. 2.29% of the stock is currently owned by insiders.

Phoenix Copper Company Profile

Phoenix Copper Limited is a North American focused, base and precious metal explorer and developer, with operations near Mackay, Idaho in the Alder Creek mining district. This district includes the historical Empire, Horseshoe, White Knob and Blue Bird Mines, which produced copper at head grades of 6-8% prior to ceasing production in the 1940s. The focus of Phoenix is on bringing an open pit containing copper oxides at empire into production, and using the cashflow generated to progress exploration of the potentially significant copper sulphide deposit beneath.