Mirasol Resources (CVE:MRZ) Shares Down 21.4% – Should You Sell?

Mirasol Resources Ltd. (CVE:MRZ) shares dropped 21.4% during mid-day trading on Tuesday . The company traded as low as C$0.31 and last traded at C$0.33. Approximately 565,363 shares were traded during mid-day trading, an increase of 1,098% from the average daily volume of 47,207 shares. The stock had previously closed at C$0.42.

Mirasol Resources Stock Down 21.4%

The firm has a market capitalization of C$26.76 million, a price-to-earnings ratio of -2.76 and a beta of 1.48. The business has a 50 day simple moving average of C$0.38 and a 200-day simple moving average of C$0.43. The company has a debt-to-equity ratio of 2.23, a quick ratio of 8.86 and a current ratio of 2.84.

Insiders Place Their Bets

In other Mirasol Resources news, insider Glenn Pountney purchased 79,500 shares of the stock in a transaction dated Monday, April 21st. The stock was acquired at an average cost of C$0.37 per share, for a total transaction of C$29,017.50. Insiders purchased 314,000 shares of company stock valued at $116,740 in the last three months. 42.13% of the stock is currently owned by insiders.

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.