Group Eleven Resources (CVE:ZNG) Trading 4% Higher – Still a Buy?

Group Eleven Resources Corp. (CVE:ZNG) shares shot up 4% during mid-day trading on Wednesday . The company traded as high as C$1.10 and last traded at C$1.05. 334,925 shares were traded during mid-day trading, a decline of 10% from the average session volume of 370,834 shares. The stock had previously closed at C$1.01.

Group Eleven Resources Price Performance

The firm has a market cap of C$288.52 million, a P/E ratio of -35.00 and a beta of 3.08. The company has a debt-to-equity ratio of 0.43, a current ratio of 6.66 and a quick ratio of 2.73. The stock’s 50-day simple moving average is C$0.88 and its two-hundred day simple moving average is C$0.63.

Group Eleven Resources Company Profile

Group Eleven Resources Corp. engages in the acquisition, exploration, and evaluation of mineral properties in Ireland. The company primarily explores for zinc, lead, and silver deposits. It owns 100% interest in the Silvermines project comprising two prospecting licenses (PLs) covering an area of 43.0 square kilometers located in the northern County Tipperary; the PG West project that consists of 22 PLs covering an area of 650 square kilometers located in the Limerick region. The company also holds 60% interest in the Ballinalack project, which comprises 5 PLs covering an area of 169.0 square kilometers located in northeast Ireland; and 76.56% interest in the Stonepark project comprising 6 PLs covering an area of 183.6 square kilometers located in County Limerick, Ireland.