Phoenix Copper (LON:PXC) Shares Down 7% – Here’s What Happened

Phoenix Copper Limited (LON:PXC)’s stock price dropped 7% during trading on Wednesday . The stock traded as low as GBX 0.99 and last traded at GBX 1. Approximately 1,079,664 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 3,397,563 shares. The stock had previously closed at GBX 1.08.

Phoenix Copper Stock Down 7.0%

The company has a debt-to-equity ratio of 12.96, a quick ratio of 13.42 and a current ratio of 1.55. The stock has a market cap of £2.88 million, a price-to-earnings ratio of -0.30 and a beta of 0.42. The business’s 50 day moving average is GBX 1.64 and its 200 day moving average is GBX 2.34.

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.