Paringa Resources (ASX:PNL) Stock Price Down 12.2%

Shares of Paringa Resources Ltd (ASX:PNL) dropped 12.2% during trading on Friday . The company traded as low as A$0.06 ($0.05) and last traded at A$0.07 ($0.05), approximately 416,471 shares changed hands during trading. A decline of 20% from the average daily volume of 521,846 shares. The stock had previously closed at A$0.07 ($0.05).

The company has a market capitalization of $29.98 million and a price-to-earnings ratio of -2.95. The business has a fifty day moving average price of A$0.08 and a 200 day moving average price of A$0.12. The company has a debt-to-equity ratio of 22.99, a current ratio of 0.91 and a quick ratio of 0.91.

About Paringa Resources (ASX:PNL)

Paringa Resources Limited, together with its subsidiaries, engages in the exploration and development of mineral resource properties in the United States. The company holds an interest in the Buck Creek Mine Complex located in the Illinois coal basin. As of June 30, 2018, it owned 40,751 gross acres of coal leases in Kentucky, the United States.

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