Portofino Resources (CVE:POR) Trading Down 50% – What’s Next?

Portofino Resources Inc. (CVE:POR)’s share price traded down 50% during mid-day trading on Wednesday . The company traded as low as C$0.01 and last traded at C$0.01. 109,500 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 252,562 shares. The stock had previously closed at C$0.01.

Portofino Resources Price Performance

The company has a quick ratio of 0.28, a current ratio of 0.13 and a debt-to-equity ratio of -17.88. The business’s 50-day simple moving average is C$0.01 and its 200-day simple moving average is C$0.01. The stock has a market cap of C$1.75 million, a PE ratio of -1.92 and a beta of 1.55.

Portofino Resources Company Profile

Portofino Resources Inc acquires, explores for, and develops mineral properties in the Americas. The company holds an option to acquire 100% interests in the Sapawe West property that comprises various claims totaling 1,147 hectares located in the Schwenger and McCaul Townships, Ontario; the Gold Creek property comprising various mining claims containing various contiguous cell units covering an area of approximately 4,036 hectares located primarily in the Duckworth Township, Ontario; and the Melema West gold property covering an area of 869 hectares located to the northeast of the town of Atikokan, Ontario.