Phoenix Copper (LON:PXC) Trading Down 5.8% – Time to Sell?

Shares of Phoenix Copper Limited (LON:PXC) traded down 5.8% during trading on Wednesday . The stock traded as low as GBX 3.22 and last traded at GBX 3.39. 3,133,063 shares traded hands during trading, an increase of 80% from the average session volume of 1,738,930 shares. The stock had previously closed at GBX 3.60.

Phoenix Copper Price Performance

The company has a debt-to-equity ratio of 5.51, a current ratio of 0.65 and a quick ratio of 13.42. The stock’s 50 day moving average price is GBX 2.46 and its two-hundred day moving average price is GBX 3.16. The firm has a market capitalization of £7.38 million, a price-to-earnings ratio of -0.92 and a beta of 1.75.

Insider Activity

In other news, insider Marcus Edwards-Jones purchased 1,000,000 shares of the firm’s stock in a transaction on Thursday, December 11th. The stock was bought at an average cost of GBX 2 per share, for a total transaction of £20,000. Also, insider Richard Wilkins purchased 550,000 shares of the firm’s stock in a transaction on Thursday, December 11th. The shares were purchased at an average price of GBX 2 per share, with a total value of £11,000. Insiders bought 3,520,719 shares of company stock worth $7,041,438 in the last 90 days. Insiders own 2.29% of the company’s stock.

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.