Mirasol Resources (CVE:MRZ) Shares Down 31% – Should You Sell?

Shares of Mirasol Resources Ltd. (CVE:MRZ) dropped 31% during mid-day trading on Thursday . The company traded as low as C$0.35 and last traded at C$0.35. Approximately 431,820 shares traded hands during mid-day trading, an increase of 820% from the average daily volume of 46,956 shares. The stock had previously closed at C$0.50.

Mirasol Resources Stock Down 32.0%

The firm has a 50 day simple moving average of C$0.50 and a two-hundred day simple moving average of C$0.49. The company has a debt-to-equity ratio of 63.75, a quick ratio of 8.86 and a current ratio of 1.24. The stock has a market cap of C$30.12 million, a P/E ratio of -4.86 and a beta of 1.25.

Insider Buying and Selling at Mirasol Resources

In related news, insider Glenn Pountney acquired 66,500 shares of the business’s stock in a transaction that occurred on Friday, March 20th. The shares were acquired at an average cost of C$0.45 per share, for a total transaction of C$29,925.00. Following the completion of the purchase, the insider directly owned 14,931,000 shares in the company, valued at C$6,718,950. This trade represents a 0.45% increase in their ownership of the stock. Insiders have bought 256,500 shares of company stock worth $126,795 in the last quarter. 42.13% of the stock is 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. The company was incorporated in 2003 and is headquartered in Vancouver, Canada.