Phoenix Copper (LON:PXC) Shares Down 7% – Here’s Why

Phoenix Copper Limited (LON:PXC)’s stock price fell 7% on Wednesday . The company traded as low as GBX 0.99 and last traded at GBX 1. 1,079,664 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 3,397,563 shares. The stock had previously closed at GBX 1.08.

Phoenix Copper Trading Down 7.0%

The company has a fifty day simple moving average of GBX 1.64 and a 200-day simple moving average of GBX 2.34. The company has a current ratio of 1.55, a quick ratio of 13.42 and a debt-to-equity ratio of 12.96. The stock has a market cap of £2.88 million, a price-to-earnings ratio of -0.30 and a beta of 0.42.

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.