GCM Resources Plc (LON:GCM – Get Free Report) shares shot up 23.1% on Friday. The company traded as high as GBX 17.50 and last traded at GBX 16. 9,417,006 shares changed hands during mid-day trading, an increase of 180% from the average session volume of 3,366,331 shares. The stock had previously closed at GBX 13.
GCM Resources Trading Up 23.1%
The firm has a market capitalization of £60.45 million, a price-to-earnings ratio of -32.00 and a beta of 0.71. The company has a 50 day moving average price of GBX 9.68 and a two-hundred day moving average price of GBX 7.17. The company has a debt-to-equity ratio of 17.40, a quick ratio of 0.11 and a current ratio of 0.09.
Insiders Place Their Bets
In other news, insider Keith Fulton sold 144,368 shares of the company’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of GBX 17, for a total transaction of £24,542.56. Insiders own 0.67% of the company’s stock.
About GCM Resources
GCM Resources Plc, together with its subsidiaries, operates as a resource exploration and development company in the United States. The company primarily engages in the development of the Phulbari coal and power project that relates to thermal coal and semi-soft coking coal located in Northwest, Bangladesh. GCM Resources Plc was incorporated in 2003 and is based in London, the United Kingdom.
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