First Andes Silver (CVE:FAS) Shares Down 16% – Here’s Why

Shares of First Andes Silver Ltd. (CVE:FAS) were down 16% on Friday . The company traded as low as C$0.10 and last traded at C$0.11. Approximately 2,780,950 shares changed hands during trading, an increase of 1,820% from the average daily volume of 144,877 shares. The stock had previously closed at C$0.13.

First Andes Silver Price Performance

The stock has a 50 day simple moving average of C$0.09 and a 200-day simple moving average of C$0.07. The firm has a market cap of C$3.48 million, a PE ratio of -0.75 and a beta of 1.65.

First Andes Silver Company Profile

First Andes Silver Ltd., an exploration stage company, engages in the exploration of mineral properties in Peru. It explores for silver and gold properties. The company holds 100% interest in the Santas Gloria silver property covering an area of approximately 1,100 hectares located in Peru. The company was formerly known as Mantaro Precious Metals Corp.