Portofino Resources (CVE:POR) Stock Price Up 50% – Here’s Why

Portofino Resources Inc. (CVE:POR) shares shot up 50% on Wednesday . The stock traded as high as C$0.02 and last traded at C$0.02. 164,422 shares traded hands during trading, a decline of 12% from the average session volume of 187,131 shares. The stock had previously closed at C$0.01.

Portofino Resources Price Performance

The business’s fifty day moving average price is C$0.02 and its 200-day moving average price is C$0.02. The stock has a market capitalization of C$2.63 million, a PE ratio of -0.75 and a beta of 1.55.

Portofino Resources Company Profile

Portofino Resources Inc acquires, explores for, and develops mineral properties in the Americas. The company holds an option to acquire 100% interests in the Sapawe West property that comprises various claims totaling 1,147 hectares located in the Schwenger and McCaul Townships, Ontario; the Gold Creek property comprising various mining claims containing various contiguous cell units covering an area of approximately 4,036 hectares located primarily in the Duckworth Township, Ontario; and the Melema West gold property covering an area of 869 hectares located to the northeast of the town of Atikokan, Ontario.