Torq Resources (CVE:TORQ) Shares Down 20% – Here’s Why

Torq Resources Inc. (CVE:TORQ)’s share price dropped 20% on Wednesday . The company traded as low as C$0.06 and last traded at C$0.06. Approximately 104,074 shares were traded during mid-day trading, an increase of 32% from the average daily volume of 78,755 shares. The stock had previously closed at C$0.08.

Torq Resources Trading Down 20.0 %

The business has a fifty day simple moving average of C$0.06 and a 200-day simple moving average of C$0.07. The company has a debt-to-equity ratio of 152.74, a quick ratio of 10.31 and a current ratio of 0.22. The firm has a market cap of C$8.34 million, a price-to-earnings ratio of -0.50 and a beta of 0.84.

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.