Phoenix Copper (LON:PXC) Trading Down 5.7% – Should You Sell?

Phoenix Copper Limited (LON:PXC) dropped 5.7% on Thursday . The company traded as low as GBX 1.10 and last traded at GBX 1.18. Approximately 1,537,254 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 4,332,054 shares. The stock had previously closed at GBX 1.25.

Phoenix Copper Price Performance

The firm has a market capitalization of £3.27 million, a P/E ratio of -0.34 and a beta of 1.75. The business’s fifty day moving average is GBX 2.24 and its 200 day moving average is GBX 2.57. The company has a current ratio of 0.65, a quick ratio of 13.42 and a debt-to-equity ratio of 5.51.

Insider Buying and Selling at Phoenix Copper

In related news, insider Marcus Edwards-Jones purchased 1,000,000 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were bought at an average price of GBX 2 per share, with a total value of £20,000. Also, insider Richard Wilkins acquired 550,000 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were bought at an average price of GBX 2 per share, with a total value of £11,000. In the last ninety days, insiders have bought 3,520,719 shares of company stock worth $7,041,438. 3.14% of the stock is owned by corporate insiders.

Phoenix Copper Company Profile

Phoenix Copper Limited is a North American focused, base and precious metal explorer and developer, with operations near Mackay, Idaho in the Alder Creek mining district. This district includes the historical Empire, Horseshoe, White Knob and Blue Bird Mines, which produced copper at head grades of 6-8% prior to ceasing production in the 1940s. The focus of Phoenix is on bringing an open pit containing copper oxides at empire into production, and using the cashflow generated to progress exploration of the potentially significant copper sulphide deposit beneath.