Phoenix Copper (LON:PXC) Stock Price Up 1.7% – Here’s Why

Phoenix Copper Limited (LON:PXC) shares shot up 1.7% during mid-day trading on Wednesday . The stock traded as high as GBX 3.10 and last traded at GBX 3. 2,235,089 shares changed hands during trading, a decline of 25% from the average session volume of 2,998,217 shares. The stock had previously closed at GBX 2.95.

Phoenix Copper Price Performance

The company has a market cap of £7.24 million, a P/E ratio of -0.91 and a beta of 1.75. The stock has a 50-day simple moving average of GBX 2.52 and a 200 day simple moving average of GBX 2.99. The company has a debt-to-equity ratio of 5.51, a quick ratio of 13.42 and a current ratio of 0.65.

Insider Transactions at Phoenix Copper

In other news, insider Catherine Evans bought 1,420,719 shares of Phoenix Copper stock in a transaction that occurred on Thursday, December 11th. The stock was purchased at an average cost of GBX 2 per share, with a total value of £28,414.38. Also, insider Ryan McDermott purchased 550,000 shares of the firm’s stock in a transaction on Thursday, December 11th. The shares were acquired at an average price of GBX 2 per share, for a total transaction of £11,000. Insiders bought 3,520,719 shares of company stock valued at $7,041,438 in the last ninety days. 2.29% of the stock is owned by company insiders.

Phoenix Copper Company Profile

Phoenix Copper Limited is a North American focused, base and precious metal explorer and developer, with operations near Mackay, Idaho in the Alder Creek mining district. This district includes the historical Empire, Horseshoe, White Knob and Blue Bird Mines, which produced copper at head grades of 6-8% prior to ceasing production in the 1940s. The focus of Phoenix is on bringing an open pit containing copper oxides at empire into production, and using the cashflow generated to progress exploration of the potentially significant copper sulphide deposit beneath.