Portofino Resources (CVE:POR) Trading Up 50% – Should You Buy?

Portofino Resources Inc. (CVE:POR)’s stock price shot up 50% during mid-day trading on Wednesday . The company traded as high as C$0.02 and last traded at C$0.02. 991,500 shares traded hands during trading, an increase of 204% from the average session volume of 326,261 shares. The stock had previously closed at C$0.01.

Portofino Resources Price Performance

The stock has a 50 day moving average price of C$0.01 and a 200-day moving average price of C$0.01. The stock has a market capitalization of C$1.75 million, a P/E ratio of -1.92 and a beta of 1.55. The company has a debt-to-equity ratio of -17.88, a current ratio of 0.13 and a quick ratio of 0.28.

Portofino Resources Company Profile

Portofino Resources Inc acquires, explores for, and develops mineral properties in the Americas. The company holds an option to acquire 100% interests in the Sapawe West property that comprises various claims totaling 1,147 hectares located in the Schwenger and McCaul Townships, Ontario; the Gold Creek property comprising various mining claims containing various contiguous cell units covering an area of approximately 4,036 hectares located primarily in the Duckworth Township, Ontario; and the Melema West gold property covering an area of 869 hectares located to the northeast of the town of Atikokan, Ontario.