Canstar Resources (CVE:ROX) Hits New 52-Week Low – Should You Sell?

Shares of Canstar Resources Inc. (CVE:ROX) hit a new 52-week low during mid-day trading on Tuesday. The stock traded as low as C$0.04 and last traded at C$0.04, with a volume of 79,000 shares trading hands. The stock had previously closed at C$0.04.

Canstar Resources Stock Performance

The company has a debt-to-equity ratio of 218.89, a quick ratio of 8.36 and a current ratio of 1.31. The stock has a market capitalization of C$6.50 million, a P/E ratio of -3.50 and a beta of 2.97. The company’s fifty day simple moving average is C$0.05 and its two-hundred day simple moving average is C$0.06.

Insider Activity at Canstar Resources

In other news, Director John Paul Austin purchased 500,000 shares of the business’s stock in a transaction on Monday, September 21st. The shares were acquired at an average price of C$0.06 per share, with a total value of C$30,000.00. Following the completion of the transaction, the director owned 8,326,000 shares of the company’s stock, valued at C$499,560. The trade was a 6.39% increase in their position. 28.71% of the stock is currently owned by corporate insiders.

About Canstar Resources

Canstar Resources Inc engages in the acquisition, exploration, and development of mineral properties in Canada. The company primarily explores for zinc, silver, lead, copper, and gold deposits. Its flagship project is the 100% owned Golden Baie project that comprises 52 mineral exploration licenses located in the south-central Newfoundland. The company is headquartered in Toronto, Canada.