Novo Resources Corp. (NVO.V) (CVE:NVO) Stock Price Down 0.4% – Here’s Why

Novo Resources Corp. (NVO.V) (CVE:NVO)’s stock price was down 0.4% on Wednesday . The stock traded as low as C$2.37 and last traded at C$2.38. 311,570 shares were traded during mid-day trading, an increase of 14% from the average daily volume of 273,252 shares. The stock had previously closed at C$2.39.

Novo Resources Corp. (NVO.V) Trading Down 0.4%

The company has a debt-to-equity ratio of 11.62, a quick ratio of 2.57 and a current ratio of 2.78. The stock has a market cap of C$548.24 million and a P/E ratio of -21.25. The stock has a 50-day moving average price of C$2.38 and a 200-day moving average price of C$2.38.

About Novo Resources Corp. (NVO.V)

Novo Resources Corp., together with its subsidiaries, engages in evaluating, acquiring, and exploring natural resource properties in Canada, Australia, and the United States. It primarily explores for gold deposits. The company primarily focuses on the Egina and Beatons Creek projects in the Pilbara region of Western Australia. It also holds interest in the Mt. Elsie project that consists of three exploration licenses covering an area of approximately 19 square kilometers located in the north-east of Nullagine, Western Australia.