Torq Resources (CVE:TORQ) Shares Up 16.7% – What’s Next?

Torq Resources Inc. (CVE:TORQ) shot up 16.7% on Monday . The stock traded as high as C$0.08 and last traded at C$0.07. 337,016 shares traded hands during mid-day trading, an increase of 231% from the average session volume of 101,802 shares. The stock had previously closed at C$0.06.

Torq Resources Price Performance

The stock has a market capitalization of C$9.73 million, a price-to-earnings ratio of -0.50 and a beta of 0.84. The company has a debt-to-equity ratio of 152.74, a current ratio of 0.22 and a quick ratio of 10.31. The company has a 50-day simple moving average of C$0.08 and a two-hundred day simple moving average of C$0.08.

Insider Activity

In other news, Director Michael Kosowan bought 750,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was acquired at an average price of C$0.09 per share, with a total value of C$63,750.00. Corporate insiders own 29.71% of the company’s stock.

About Torq Resources

Torq Resources Inc, a junior exploration company, engages in the acquisition and exploration of mineral properties in the Americas. It has an option to acquire 100% interests in the Margarita iron oxide-copper-gold project covering an area of approximately 1,445 hectares located in the city of Copiapo, Chile; Santa Cecilia gold-copper project, which covers an area of 3,250-hectares located in Chile; and Andrea copper porphyry project that covers an area of 1,200 hectares located in northern Chile.