Blencowe Resources (LON:BRES) Stock Price Up 8.7% – Time to Buy?

Blencowe Resources Plc (LON:BRES) shares were up 8.7% on Thursday . The stock traded as high as GBX 11.70 and last traded at GBX 11.42. Approximately 3,895,244 shares were traded during trading, a decline of 19% from the average daily volume of 4,821,238 shares. The stock had previously closed at GBX 10.50.

Blencowe Resources Trading Up 8.4%

The stock’s 50 day simple moving average is GBX 7.98 and its two-hundred day simple moving average is GBX 6.86. The stock has a market capitalization of £61.84 million, a PE ratio of -21.07 and a beta of 0.87. The company has a debt-to-equity ratio of 16.04, a current ratio of 0.12 and a quick ratio of 3.57.

Blencowe Resources (LON:BRES) last posted its quarterly earnings results on Friday, January 30th. The company reported GBX (0.36) EPS for the quarter.

About Blencowe Resources

Blencowe Resources Plc engages in the acquisition, development, and exploration of graphite properties in Northern Uganda. It holds a 100% interest in the Orom-Cross Graphite project covering an area of approximately 520,000 hectares located in Northern Uganda. The company was formerly known as Cora Gold Limited and changed its name to Blencowe Resources Limited in September 2017. Blencowe Resources Plc was incorporated in 2017 and is based in London, the United Kingdom.