Phoenix Copper (LON:PXC) Stock Price Up 22% – Time to Buy?

Phoenix Copper Limited (LON:PXC) shares traded up 22% on Tuesday . The company traded as high as GBX 1.25 and last traded at GBX 1.25. 2,586,297 shares changed hands during trading, a decline of 40% from the average session volume of 4,318,350 shares. The stock had previously closed at GBX 1.03.

Phoenix Copper Price Performance

The company has a quick ratio of 13.42, a current ratio of 0.65 and a debt-to-equity ratio of 5.51. The stock has a market capitalization of £3.60 million, a P/E ratio of -0.38 and a beta of 1.75. The business’s 50 day simple moving average is GBX 2.26 and its two-hundred day simple moving average is GBX 2.59.

Insider Activity

In other news, insider Marcus Edwards-Jones acquired 1,000,000 shares of Phoenix Copper stock in a transaction on Thursday, December 11th. The stock was acquired at an average cost of GBX 2 per share, with a total value of £20,000. Also, insider Ryan McDermott bought 550,000 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were purchased at an average cost of GBX 2 per share, for a total transaction of £11,000. Over the last quarter, insiders acquired 3,520,719 shares of company stock valued at $7,041,438. 3.14% of the stock is currently owned by company insiders.

About Phoenix Copper

Phoenix Copper Limited is a North American focused, base and precious metal explorer and developer, with operations near Mackay, Idaho in the Alder Creek mining district. This district includes the historical Empire, Horseshoe, White Knob and Blue Bird Mines, which produced copper at head grades of 6-8% prior to ceasing production in the 1940s. The focus of Phoenix is on bringing an open pit containing copper oxides at empire into production, and using the cashflow generated to progress exploration of the potentially significant copper sulphide deposit beneath.