Mirasol Resources (CVE:MRZ) Sets New 12-Month Low – Should You Sell?

Mirasol Resources Ltd. (CVE:MRZ)’s stock price hit a new 52-week low during trading on Tuesday. The company traded as low as C$0.30 and last traded at C$0.30, with a volume of 46,070 shares. The stock had previously closed at C$0.33.

Mirasol Resources Stock Performance

The business’s fifty day moving average price is C$0.32 and its two-hundred day moving average price is C$0.35. The company has a debt-to-equity ratio of 18,146.41, a quick ratio of 8.86 and a current ratio of 0.41. The stock has a market capitalization of C$26.58 million, a P/E ratio of -5.00 and a beta of 1.23.

Insider Buying and Selling

In related news, insider Glenn Pountney acquired 154,000 shares of Mirasol Resources stock in a transaction on Wednesday, August 19th. The shares were bought at an average cost of C$0.33 per share, with a total value of C$50,820.00. Following the completion of the purchase, the insider directly owned 16,151,000 shares of the company’s stock, valued at C$5,329,830. The trade was a 0.96% increase in their position. Insiders bought a total of 539,500 shares of company stock valued at $174,045 in the last ninety days. Company insiders own 42.13% of the company’s stock.

About Mirasol Resources

Mirasol Resources Ltd. engages in the acquisition and exploration of mineral properties primarily in Chile and Argentina. The company explores for gold, silver, and copper deposits. Its flagship projects include the Sobek Cu project, which covers an area of 11,100 hectares located in northern Chile; and the Inca Gold that covers an area of 16,300 hectares located on the Paleocene belt of Chile. The company was incorporated in 2003 and is headquartered in Vancouver, Canada.