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

Novo Resources Corp. (NVO.V) (CVE:NVO) traded down 0.4% on Wednesday. The company traded as low as C$2.37 and last traded at C$2.38. 311,570 shares changed hands 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) Price Performance

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

Novo Resources Corp. (NVO.V) Company Profile

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.