Canstar Resources (CVE:ROX) Reaches New 52-Week Low – Should You Sell?

Canstar Resources Inc. (CVE:ROX) reached a new 52-week low on Friday. The stock traded as low as C$0.04 and last traded at C$0.04, with a volume of 10,040 shares changing hands. The stock had previously closed at C$0.04.

Canstar Resources Stock Performance

The stock has a market capitalization of C$7.03 million, a PE ratio of -3.50 and a beta of 2.26. The company has a debt-to-equity ratio of -145.54, a quick ratio of 8.36 and a current ratio of 0.49. The firm’s 50 day moving average is C$0.05 and its two-hundred day moving average is C$0.06.

Insider Activity

In related news, Director John Paul Austin acquired 500,000 shares of the stock in a transaction dated Monday, September 21st. The stock was acquired at an average cost of C$0.06 per share, with a total value of C$30,000.00. Following the completion of the transaction, the director owned 8,326,000 shares in the company, valued at C$499,560. This represents a 6.39% increase in their position. Insiders own 28.71% of the company’s stock.

Canstar Resources Company Profile

Canstar Resources Inc. engages in the acquisition, exploration, and development of mineral properties in Canada. The company primarily explores for zinc, silver, lead, copper, and gold deposits. Its flagship project is the 100% owned Golden Baie project that comprises 52 mineral exploration licenses located in the south-central Newfoundland. The company is headquartered in Toronto, Canada.