Shares of Cartier Resources Inc (CVE:ECR) dropped 12.1% during trading on Tuesday . The company traded as low as C$0.15 and last traded at C$0.15, approximately 2,021,500 shares traded hands during trading. An increase of 1,519% from the average daily volume of 124,870 shares. The stock had previously closed at C$0.17.

Separately, Fundamental Research initiated coverage on shares of Cartier Resources in a report on Tuesday, April 30th. They set a “buy” rating and a C$0.29 target price on the stock.

The firm has a market cap of $30.11 million and a PE ratio of -5.16. The company has a debt-to-equity ratio of 0.89, a quick ratio of 20.00 and a current ratio of 20.30. The firm’s fifty day simple moving average is C$0.14.

About Cartier Resources (CVE:ECR)

Cartier Resources Inc engages in the acquisition and exploration of mining properties in Canada. The company explores for gold deposits. Its flagship project is the Chimo mine property located in Val-d'Or. The company was founded in 2006 and is headquartered in Val-d'Or, Canada.

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