Mirasol Resources (CVE:MRZ) Hits New 52-Week Low – Time to Sell?

Mirasol Resources Ltd. (CVE:MRZ)’s stock price reached a new 52-week low during trading on Thursday. The company traded as low as C$0.30 and last traded at C$0.30, with a volume of 2,068 shares changing hands. The stock had previously closed at C$0.31.

Mirasol Resources Stock Performance

The firm has a market capitalization of C$26.58 million, a PE ratio of -5.00 and a beta of 1.23. The business’s fifty day simple moving average is C$0.32 and its 200-day simple moving average is C$0.40. The company has a debt-to-equity ratio of 18,146.41, a quick ratio of 8.86 and a current ratio of 0.41.

Insider Buying and Selling at Mirasol Resources

In other news, insider Glenn Pountney bought 154,000 shares of Mirasol Resources stock in a transaction dated Wednesday, August 19th. The shares were purchased at an average cost of C$0.33 per share, with a total value of C$50,820.00. Following the completion of the acquisition, the insider owned 16,151,000 shares of the company’s stock, valued at C$5,329,830. This trade represents a 0.96% increase in their position. Insiders bought a total of 530,000 shares of company stock worth $171,005 in the last ninety days. Company insiders own 42.13% of the company’s stock.

Mirasol Resources Company Profile

Mirasol Resources Ltd. engages in the acquisition and exploration of mineral properties primarily in Chile and Argentina. The company explores for gold, silver, and copper deposits. Its flagship projects include the Sobek Cu project, which covers an area of 11,100 hectares located in northern Chile; and the Inca Gold that covers an area of 16,300 hectares located on the Paleocene belt of Chile. The company was incorporated in 2003 and is headquartered in Vancouver, Canada.