Velocity Minerals (CVE:VLC) Reaches New 52-Week High – Still a Buy?

Velocity Minerals Ltd. (CVE:VLCGet Free Report)’s share price hit a new 52-week high on Wednesday . The company traded as high as C$0.21 and last traded at C$0.21, with a volume of 178000 shares traded. The stock had previously closed at C$0.20.

Velocity Minerals Stock Performance

The stock has a fifty day simple moving average of C$0.18 and a two-hundred day simple moving average of C$0.18. The company has a debt-to-equity ratio of 0.42, a quick ratio of 5.93 and a current ratio of 4.00. The stock has a market cap of C$41.42 million, a price-to-earnings ratio of -21.00 and a beta of 0.35.

About Velocity Minerals

(Get Free Report)

Velocity Minerals Ltd., a gold exploration and development company, engages in the acquisition, exploration, and evaluation of mineral resource properties in Bulgaria. It explores for gold and copper deposits. The company holds 70% interest in the Tintyava property, which includes the Rozino gold project located in the municipalities of Ivaylovgrad and Krumovgrad in southeast Bulgaria; the Momchil property, which includes the Obichnik gold project located within the municipality of Momchilgrad in southeast, Bulgaria; and a 100% interest in the Iglika property covering an area of 105 square kilometers located in southeast Bulgaria.

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