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

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

Phoenix Copper Stock Down 15.1%

The firm has a 50 day moving average of GBX 2.46 and a 200-day moving average of GBX 3.16. 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 has a market capitalization of £7.38 million, a P/E ratio of -0.92 and a beta of 1.75.

Insider Transactions at Phoenix Copper

In other news, insider Richard Wilkins acquired 550,000 shares of the stock in a transaction dated Thursday, December 11th. The shares were acquired at an average cost of GBX 2 per share, for a total transaction of £11,000. Also, insider Ryan McDermott bought 550,000 shares of Phoenix Copper stock in a transaction that occurred on Thursday, December 11th. The stock was purchased at an average cost of GBX 2 per share, with a total value of £11,000. In the last ninety days, insiders have acquired 3,520,719 shares of company stock valued at $7,041,438. Company 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.