Asiamet Resources (LON:ARS) Stock Crosses Below Fifty Day Moving Average – Here’s Why

Shares of Asiamet Resources Limited (LON:ARS) passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of GBX 1.68 and traded as low as GBX 1.44. Asiamet Resources shares last traded at GBX 1.49, with a volume of 3,231,400 shares trading hands.

Asiamet Resources Stock Down 5.1%

The company has a quick ratio of 4.32, a current ratio of 4.36 and a debt-to-equity ratio of 6.09. The firm’s 50-day moving average price is GBX 1.67 and its 200 day moving average price is GBX 1.46. The firm has a market cap of £47.51 million, a P/E ratio of -7.37 and a beta of 1.00.

About Asiamet Resources

Asiamet Resources Limited, together with its subsidiaries, engages in the exploration and development of mineral properties in Indonesia. The company explores for copper, gold, zinc, lead, and silver deposits. Its flagship project is the BKM copper project, which covers an area of 390 square kilometers located in Kalimantan. The company was formerly known as Kalimantan Gold Corporation Limited and changed its name to Asiamet Resources Limited in July 2015. The company was incorporated in 2017 and is headquartered in Jakarta, Indonesia.