Sparton Resources (CVE:SRI) Shares Down 16.7% – Here’s Why

Sparton Resources Inc. (CVE:SRI)’s share price dropped 16.7% on Tuesday . The stock traded as low as C$0.03 and last traded at C$0.03. Approximately 333,000 shares traded hands during mid-day trading, an increase of 184% from the average daily volume of 117,126 shares. The stock had previously closed at C$0.03.

Sparton Resources Trading Down 16.7%

The company has a market cap of C$4.39 million, a price-to-earnings ratio of -4.22 and a beta of 0.70. The firm has a 50-day moving average price of C$0.03 and a 200 day moving average price of C$0.03. The company has a current ratio of 0.40, a quick ratio of 0.19 and a debt-to-equity ratio of 25.38.

Sparton Resources Company Profile

Sparton Resources Inc, an exploration and development stage company, engages in the exploration and evaluation of properties in Canada. It has an option agreement to acquire interest in the Bruell Gold Property comprises 20 claims located in Vauquelin Township, Quebec; and Sir Harry Oakes Gold Property, including 46 mining claims and 3 mining leases in the Matachewan Gold Area; and Pens Polymetallic Property. The company also engages in the vanadium redox flow battery; Chebucto natural gas field located in the Sable Island area of offshore Nova Scotia; and provision of drilling services.