Sunrise Resources (LON:SRES) Stock Price Down 11.5% – Here’s Why

Sunrise Resources plc (LON:SRES) shares dropped 11.5% during mid-day trading on Wednesday . The stock traded as low as GBX 0.02 and last traded at GBX 0.02. Approximately 273,735 shares changed hands during mid-day trading, a decline of 99% from the average daily volume of 19,118,711 shares. The stock had previously closed at GBX 0.03.

Sunrise Resources Trading Up 4.2%

The company has a 50-day simple moving average of GBX 0.03 and a 200-day simple moving average of GBX 0.03. The company has a debt-to-equity ratio of 12.48, a quick ratio of 3.18 and a current ratio of 0.71. The stock has a market cap of £1.95 million, a P/E ratio of -4.17 and a beta of 0.88.

About Sunrise Resources

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.