Phoenix Copper (LON:PXC) Stock Price Up 17.1% – Still a Buy?

Phoenix Copper Limited (LON:PXC) rose 17.1% during mid-day trading on Tuesday . The company traded as high as GBX 1.30 and last traded at GBX 1.20. Approximately 28,717,563 shares were traded during mid-day trading, an increase of 461% from the average daily volume of 5,117,828 shares. The stock had previously closed at GBX 1.03.

Phoenix Copper Stock Performance

The stock has a market capitalization of £3.46 million, a P/E ratio of -0.36 and a beta of 1.75. The company has a debt-to-equity ratio of 5.51, a quick ratio of 13.42 and a current ratio of 0.65. The stock has a 50 day moving average of GBX 2.46 and a 200 day moving average of GBX 2.79.

Insider Activity

In other news, insider Richard Wilkins bought 550,000 shares of Phoenix Copper stock in a transaction on Thursday, December 11th. The stock was purchased at an average cost of GBX 2 per share, with a total value of £11,000. Also, insider Marcus Edwards-Jones bought 1,000,000 shares of the firm’s stock in a transaction on Thursday, December 11th. The stock was purchased at an average price of GBX 2 per share, with a total value of £20,000. Over the last 90 days, insiders bought 3,520,719 shares of company stock valued at $7,041,438. Company insiders own 3.14% of the company’s stock.

About Phoenix Copper

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.