Torq Resources (CVE:TORQ) Shares Down 14.3% – Here’s What Happened

Shares of Torq Resources Inc. (CVE:TORQ) were down 14.3% during mid-day trading on Thursday . The stock traded as low as C$0.06 and last traded at C$0.06. Approximately 174,500 shares traded hands during mid-day trading, an increase of 80% from the average daily volume of 96,691 shares. The stock had previously closed at C$0.07.

Torq Resources Stock Performance

The stock has a market capitalization of C$9.04 million, a P/E ratio of -0.54 and a beta of 0.84. The company has a current ratio of 0.22, a quick ratio of 10.31 and a debt-to-equity ratio of 152.74. The company has a 50-day moving average price of C$0.08 and a two-hundred day moving average price of C$0.09.

Insider Activity

In other news, Director Michael Kosowan purchased 750,000 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were purchased at an average price of C$0.09 per share, with a total value of C$63,750.00. 29.71% of the stock is currently owned by corporate insiders.

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.