Galantas Gold (CVE:GAL) Trading Down 2.4% – Here’s Why

Shares of Galantas Gold Co. (CVE:GAL) dropped 2.4% during mid-day trading on Friday . The company traded as low as C$0.38 and last traded at C$0.40. Approximately 328,479 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 1,105,483 shares. The stock had previously closed at C$0.41.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group upgraded shares of Galantas Gold to a “moderate buy” rating in a research note on Monday, June 22nd. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy”.

Galantas Gold Stock Performance

The company has a 50-day simple moving average of C$0.44 and a two-hundred day simple moving average of C$0.33. The company has a quick ratio of 0.65, a current ratio of 1.74 and a debt-to-equity ratio of 11.03. The firm has a market cap of C$331.85 million, a PE ratio of -5.71 and a beta of 1.20.

About Galantas Gold

Galantas Gold Corporation engages in the acquisition, exploration, and development of gold properties primarily in Omagh, Northern Ireland. It primarily explores for gold, silver, and lead deposits. The company owns and operates a producing open-pit gold mine near Omagh, which covers an area of 189 square kilometers; and the Gairloch project that covering an area of 217 square kilometers located in the Gairloch Schist Belt. The company was formerly known as European Gold Resources Inc and changed its name to Galantas Gold Corporation in May 2004.