49 North Resources (CVE:FNR) Shares Up 50% – Should You Buy?

49 North Resources Inc. (CVE:FNR) shot up 50% during mid-day trading on Thursday . The company traded as high as C$0.03 and last traded at C$0.03. 152,017 shares traded hands during trading, an increase of 170% from the average session volume of 56,238 shares. The stock had previously closed at C$0.02.

49 North Resources Stock Performance

The company has a market cap of C$4.16 million, a price-to-earnings ratio of -1.25 and a beta of -0.37. The company has a debt-to-equity ratio of 70.34, a quick ratio of 1.26 and a current ratio of 0.79. The stock’s fifty day simple moving average is C$0.02 and its two-hundred day simple moving average is C$0.02.

49 North Resources Company Profile

49 North Resources Inc is a venture capital firm specializing in seed capital and early stage investments. The firm typically invests in a diversified portfolio of common shares and other securities of resource issuers including all sectors of mineral exploration as well as oil and gas exploration and production around the globe. It focuses on resource issuers with exploration programs in Saskatchewan. The firm also seeks to co-invest. 49 North Resources Inc was founded in 2005 and is based in Saskatoon, Canada.