Velocity Minerals (CVE:VLC) Reaches New 52-Week High – Should You Buy?

Velocity Minerals Ltd. (CVE:VLC)’s share price reached a new 52-week high on Wednesday . The company traded as high as C$0.21 and last traded at C$0.21, with a volume of 178000 shares changing hands. The stock had previously closed at C$0.20.

Velocity Minerals Price Performance

The company has a debt-to-equity ratio of 0.42, a current ratio of 4.00 and a quick ratio of 5.93. The stock has a market capitalization of C$39.44 million, a P/E ratio of -20.00 and a beta of 0.35. The stock’s fifty day moving average is C$0.19 and its 200-day moving average is C$0.18.

Velocity Minerals Company Profile

Velocity Minerals Ltd., a gold exploration and development company, engages in the acquisition, exploration, and evaluation of mineral resource properties in Bulgaria. It explores for gold and copper deposits. The company holds 70% interest in the Tintyava property, which includes the Rozino gold project located in the municipalities of Ivaylovgrad and Krumovgrad in southeast Bulgaria; the Momchil property, which includes the Obichnik gold project located within the municipality of Momchilgrad in southeast, Bulgaria; and a 100% interest in the Iglika property covering an area of 105 square kilometers located in southeast Bulgaria.