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

Shares of Novo Resources Corp. (NVO.V) (CVE:NVO) fell 0.4% during mid-day trading on Wednesday . The stock traded as low as C$2.37 and last traded at C$2.38. Approximately 311,570 shares changed hands during 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 stock has a market capitalization of C$548.24 million and a P/E ratio of -21.25. The company’s 50 day simple moving average is C$2.38 and its two-hundred day simple moving average is C$2.38. The company has a debt-to-equity ratio of 11.62, a current ratio of 2.78 and a quick ratio of 2.57.

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.