Velocity Minerals (CVE:VLC) Trading 8.8% Higher – Here’s What Happened

Shares of Velocity Minerals Ltd. (CVE:VLC) shot up 8.8% during mid-day trading on Monday . The company traded as high as C$0.19 and last traded at C$0.19. 296,000 shares traded hands during mid-day trading, an increase of 344% from the average session volume of 66,648 shares. The stock had previously closed at C$0.17.

Velocity Minerals Trading Up 8.8%

The firm has a market capitalization of C$36.32 million, a P/E ratio of -15.00 and a beta of 1.12. The company has a quick ratio of 5.93, a current ratio of 4.00 and a debt-to-equity ratio of 0.42. The stock has a fifty day simple moving average of C$0.17 and a 200 day simple moving average of C$0.16.

About Velocity Minerals

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.