Sunrise Resources (LON:SRES) Trading Down 28.6% – Here’s Why

Sunrise Resources plc (LON:SRES) shares dropped 28.6% on Friday . The company traded as low as GBX 0.02 and last traded at GBX 0.02. Approximately 2,000,000 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 25,751,703 shares. The stock had previously closed at GBX 0.03.

Sunrise Resources Stock Down 14.3%

The stock’s 50-day moving average price is GBX 0.03 and its two-hundred day moving average price is GBX 0.03. The company has a current ratio of 0.71, a quick ratio of 3.18 and a debt-to-equity ratio of 12.48. The stock has a market capitalization of £1.87 million, a P/E ratio of -1.50 and a beta of 0.88.

Sunrise Resources Company Profile

Sunrise Resources plc engages in the acquisition, exploration, and development of mineral projects in the United States and Western Australia. The company explores for gold, copper, silver, lead, zinc, precious metal, base metal, and industrial mineral projects. It mines at CS Pozzolan-Perlite project located in Nevada, the United States, as well as holds leases/option agreement in the Jackson Wash project located in Nevada, the United States. The company was formerly known as Sunrise Diamonds plc and changed its name to Sunrise Resources plc in May 2010.