Group Eleven Resources (CVE:ZNG) Shares Up 25.7% – Here’s Why

Group Eleven Resources Corp. (CVE:ZNG) rose 25.7% during mid-day trading on Monday . The stock traded as high as C$0.94 and last traded at C$0.88. Approximately 455,025 shares were traded during mid-day trading, an increase of 46% from the average daily volume of 311,780 shares. The stock had previously closed at C$0.70.

Group Eleven Resources Price Performance

The stock has a market capitalization of C$227.46 million, a P/E ratio of -29.00 and a beta of 2.88. The business’s 50 day simple moving average is C$0.60 and its two-hundred day simple moving average is C$0.43. The company has a quick ratio of 2.73, a current ratio of 6.66 and a debt-to-equity ratio of 0.43.

About Group Eleven Resources

Group Eleven Resources Corp. engages in the acquisition, exploration, and evaluation of mineral properties in Ireland. The company primarily explores for zinc, lead, and silver deposits. It owns 100% interest in the Silvermines project comprising two prospecting licenses (PLs) covering an area of 43.0 square kilometers located in the northern County Tipperary; the PG West project that consists of 22 PLs covering an area of 650 square kilometers located in the Limerick region. The company also holds 60% interest in the Ballinalack project, which comprises 5 PLs covering an area of 169.0 square kilometers located in northeast Ireland; and 76.56% interest in the Stonepark project comprising 6 PLs covering an area of 183.6 square kilometers located in County Limerick, Ireland.