Phoenix Copper (LON:PXC) Shares Down 5.7% – What’s Next?

Phoenix Copper Limited (LON:PXC) traded down 5.7% on Thursday . The company traded as low as GBX 1.10 and last traded at GBX 1.18. 1,537,254 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 4,332,054 shares. The stock had previously closed at GBX 1.25.

Phoenix Copper Price Performance

The firm has a market capitalization of £3.40 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 current ratio of 0.65 and a quick ratio of 13.42. The firm’s 50 day simple moving average is GBX 2.21 and its two-hundred day simple moving average is GBX 2.54.

Insider Activity at Phoenix Copper

In other Phoenix Copper news, insider Ryan McDermott acquired 550,000 shares of the stock in a transaction dated Thursday, December 11th. The shares were purchased at an average price of GBX 2 per share, for a total transaction of £11,000. Also, insider Richard Wilkins purchased 550,000 shares of Phoenix Copper stock in a transaction on Thursday, December 11th. The stock was bought at an average price of GBX 2 per share, for a total transaction of £11,000. Over the last ninety days, insiders have purchased 3,520,719 shares of company stock worth $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.