Velocity Minerals (CVE:VLC) Trading Up 5.9% – Should You Buy?

Velocity Minerals Ltd. (CVE:VLC)’s stock price shot up 5.9% during trading on Friday . The stock traded as high as C$0.18 and last traded at C$0.18. 70,778 shares traded hands during mid-day trading, an increase of 26% from the average session volume of 56,063 shares. The stock had previously closed at C$0.17.

Velocity Minerals Stock Performance

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 company’s fifty day simple moving average is C$0.16 and its 200 day simple moving average is C$0.16. The stock has a market capitalization of C$35.33 million, a price-to-earnings ratio of -15.00 and a beta of 1.12.

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.