Phoenix Copper (LON:PXC) Shares Up 18.2% – Time to Buy?

Phoenix Copper Limited (LON:PXC) shares shot up 18.2% during mid-day trading on Friday . The stock traded as high as GBX 1.30 and last traded at GBX 1.30. 754,648 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 2,897,028 shares. The stock had previously closed at GBX 1.10.

Phoenix Copper Stock Up 18.2%

The company has a current ratio of 1.55, a quick ratio of 13.42 and a debt-to-equity ratio of 12.96. The company has a market capitalization of £3.74 million, a price-to-earnings ratio of -0.39 and a beta of 0.42. The firm’s 50 day simple moving average is GBX 1.11 and its 200-day simple moving average is GBX 1.97.

Phoenix Copper Company Profile

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.