Novo Resources Corp. (NVO.V) (CVE:NVO) Stock Price Down 0.4% – Should You Sell?

Novo Resources Corp. (NVO.V) (CVE:NVO) fell 0.4% on Wednesday . The company traded as low as C$2.37 and last traded at C$2.38. 311,570 shares were traded 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) Stock Performance

The company has a debt-to-equity ratio of 11.62, a quick ratio of 2.57 and a current ratio of 2.78. The firm has a 50 day moving average price of C$2.38 and a two-hundred day moving average price of C$2.38. The company has a market capitalization of C$548.24 million and a P/E ratio of -21.25.

Novo Resources Corp. (NVO.V) Company Profile

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.