Phoenix Copper (LON:PXC) Stock Falls 4.7% – Here’s What Happened

Phoenix Copper Limited (LON:PXC)’s share price fell 4.7% during mid-day trading on Friday. The company traded as low as GBX 0.50 and last traded at GBX 0.52. 1,159,440 shares changed hands during trading, a decline of 79% from the average daily volume of 5,481,745 shares. The stock had previously closed at GBX 0.55.

Phoenix Copper Stock Performance

The stock’s 50-day simple moving average is GBX 0.59 and its 200 day simple moving average is GBX 0.82. The stock has a market capitalization of £4.35 million, a P/E ratio of -0.26 and a beta of 0.33. The company has a debt-to-equity ratio of 16.31, a current ratio of 0.03 and a quick ratio of 13.42.

About Phoenix Copper

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.