Velocity Minerals (CVE:VLC) Hits New 1-Year High – Should You Buy?

Velocity Minerals Ltd. (CVE:VLC) reached a new 52-week high during trading on Monday. The company traded as high as C$0.24 and last traded at C$0.24, with a volume of 52,505 shares changing hands. The stock had previously closed at C$0.21.

Velocity Minerals Trading Up 14.3%

The company’s 50-day simple moving average is C$0.21 and its 200 day simple moving average is C$0.20. 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 firm has a market capitalization of C$49.11 million, a PE ratio of -24.00 and a beta of 0.71.

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.