Oroco Resource (CVE:OCO) Shares Down 20% – Here’s Why

Oroco Resource Corp. (CVE:OCO) shares dropped 20% during mid-day trading on Wednesday . The stock traded as low as C$0.35 and last traded at C$0.38. Approximately 3,160,884 shares were traded during trading, an increase of 120% from the average daily volume of 1,438,970 shares. The stock had previously closed at C$0.48.

Oroco Resource Trading Down 20.0%

The company has a quick ratio of 5.79, a current ratio of 0.78 and a debt-to-equity ratio of 0.54. The firm’s 50 day simple moving average is C$0.33 and its two-hundred day simple moving average is C$0.31. The stock has a market cap of C$96.54 million, a P/E ratio of -33.00 and a beta of -0.28.

About Oroco Resource

Oroco Resource Corp., an exploration stage company, engages in the acquisition and exploration of mineral properties in Mexico. It explores for gold, silver, and copper deposits. The company primarily focuses on the Santo Tomas porphyry copper project located in Sinaloa State. It also holds 100% interests in the Xochipala project that includes Celia Gene and Celia Generosa contiguous mineral concessions covering an area of 193 hectares located in Guerrero; and the Salvador property that covers an area of 100 hectares located in Guerrero.