iMetal Resources (CVE:IMR) Shares Down 8.3% – Here’s Why

iMetal Resources Inc. (CVE:IMR)’s stock price fell 8.3% during mid-day trading on Thursday . The company traded as low as C$0.22 and last traded at C$0.22. 170,296 shares traded hands during trading, an increase of 5% from the average session volume of 162,364 shares. The stock had previously closed at C$0.24.

iMetal Resources Stock Down 6.2%

The company’s fifty day moving average price is C$0.15 and its 200 day moving average price is C$0.11. The company has a market capitalization of C$9.08 million, a P/E ratio of -2.05 and a beta of 1.03.

iMetal Resources Company Profile

iMetal Resources Inc, a junior exploration company, focuses on the acquisition, exploration, development, and evaluation of resource properties in Ontario and Quebec in Canada. The company explores for precious and base metal resources. Its flagship property is the Gowganda West project covering an area of approximately 147 squares kilometers located in Ontario; Kerrs Gold property covering an area of 665 hectares located in Ontario; and Ghost Mountain property consists of eleven claim units covering an area of 220 hectares located in Ontario.