Phoenix Copper (LON:PXC) Shares Up 22% – Still a Buy?

Phoenix Copper Limited (LON:PXC) was up 22% during trading on Tuesday . The stock traded as high as GBX 1.25 and last traded at GBX 1.25. Approximately 2,586,297 shares changed hands during mid-day trading, a decline of 40% from the average daily volume of 4,318,350 shares. The stock had previously closed at GBX 1.03.

Phoenix Copper Stock Performance

The business’s fifty day moving average price is GBX 2.26 and its 200-day moving average price is GBX 2.59. The stock has a market capitalization of £3.60 million, a PE ratio of -0.38 and a beta of 1.75. The company has a debt-to-equity ratio of 5.51, a current ratio of 0.65 and a quick ratio of 13.42.

Insider Transactions at Phoenix Copper

In related news, insider Richard Wilkins acquired 550,000 shares of the stock in a transaction on Thursday, December 11th. The stock was purchased at an average price of GBX 2 per share, for a total transaction of £11,000. Also, insider Ryan McDermott acquired 550,000 shares of the stock in a transaction on Thursday, December 11th. The shares were bought at an average price of GBX 2 per share, with a total value of £11,000. Insiders have bought a total of 3,520,719 shares of company stock valued at $7,041,438 over the last quarter. 3.14% of the stock is owned by company insiders.

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.