Moon River Moly (CVE:MOO) Shares Up 12.3% – Here’s Why

Shares of Moon River Moly Ltd. (CVE:MOO) rose 12.3% during trading on Friday . The company traded as high as C$0.82 and last traded at C$0.82. Approximately 137,585 shares changed hands during mid-day trading, an increase of 130% from the average daily volume of 59,826 shares. The stock had previously closed at C$0.73.

Moon River Moly Trading Up 13.7%

The company has a market cap of C$31.16 million, a price-to-earnings ratio of -19.76 and a beta of 3.13. The stock’s fifty day simple moving average is C$0.72 and its 200 day simple moving average is C$0.81.

About Moon River Moly

Moon River Capital Ltd., a resource company, focuses on the acquisition, exploration, and development of mineral projects. The company primarily explores for molybdenum deposit. It holds rights and interests in the Davidson Property, which includes six mineral leases covering approximately 1,631.8 hectares and seven mineral claims covering 2,202.02 hectares located near the town of Smithers, British Columbia. The company was incorporated in 2019 and is based in Toronto, Canada.