Minnova (CVE:MCI) Trading 38.5% Higher – Time to Buy?

Shares of Minnova Corp. (CVE:MCI) rose 38.5% during mid-day trading on Tuesday . The company traded as high as C$0.28 and last traded at C$0.27. Approximately 616,073 shares changed hands during mid-day trading, an increase of 166% from the average daily volume of 231,592 shares. The stock had previously closed at C$0.20.

Minnova Stock Performance

The company has a market cap of C$32.78 million, a P/E ratio of -13.50 and a beta of 3.01. The company has a quick ratio of 0.12, a current ratio of 0.02 and a debt-to-equity ratio of -3.33. The company has a 50 day moving average price of C$0.19 and a 200-day moving average price of C$0.15.

Minnova Company Profile

Minnova Corp. engages in the exploration and evaluation of mineral properties. The company operates in two segments, Mineral Exploration and Renewable Energy. It primarily explores for gold. The company holds 100% interests in the PL Gold mine and the Nokomis property located in Manitoba. It also engages in the research and development of biomass gasification technology to produce renewable energy. The company was formerly known as Auriga Gold Corp. and changed its name to Minnova Corp. in June 2014.