Novo Resources Corp. (NVO.V) (CVE:NVO) Shares Down 0.4% – Time to Sell?

Novo Resources Corp. (NVO.V) (CVE:NVO)’s share price fell 0.4% during trading on Wednesday. The stock traded as low as C$2.37 and last traded at C$2.38. Approximately 311,570 shares changed hands during trading, an increase of 14% from the average session volume of 273,252 shares. The stock had previously closed at C$2.39.

Novo Resources Corp. (NVO.V) Price Performance

The company has a debt-to-equity ratio of 11.62, a current ratio of 2.78 and a quick ratio of 2.57. The firm has a market cap of C$548.24 million and a price-to-earnings ratio of -21.25. The business’s 50-day moving average price is C$2.38 and its two-hundred day moving average price is C$2.38.

About Novo Resources Corp. (NVO.V)

Novo Resources Corp., together with its subsidiaries, engages in evaluating, acquiring, and exploring natural resource properties in Canada, Australia, and the United States. It primarily explores for gold deposits. The company primarily focuses on the Egina and Beatons Creek projects in the Pilbara region of Western Australia. It also holds interest in the Mt. Elsie project that consists of three exploration licenses covering an area of approximately 19 square kilometers located in the north-east of Nullagine, Western Australia.