Novo Resources Corp. (NVO.V) (CVE:NVO) Shares Down 0.4% – Should You Sell?

Novo Resources Corp. (NVO.V) (CVE:NVO)’s share price was down 0.4% on Wednesday . The stock traded as low as C$2.37 and last traded at C$2.38. Approximately 311,570 shares traded hands during mid-day trading, an increase of 14% from the average session volume of 273,252 shares. The stock had previously closed at C$2.39.

Novo Resources Corp. (NVO.V) Stock Performance

The company’s 50-day moving average price is C$2.38 and its two-hundred day moving average price is C$2.38. The company has a debt-to-equity ratio of 11.62, a current ratio of 2.78 and a quick ratio of 2.57. The company has a market capitalization of C$548.24 million and a price-to-earnings ratio of -21.25.

Novo Resources Corp. (NVO.V) Company Profile

Novo Resources Corp., together with its subsidiaries, engages in evaluating, acquiring, and exploring natural resource properties in Canada, Australia, and the United States. It primarily explores for gold deposits. The company primarily focuses on the Egina and Beatons Creek projects in the Pilbara region of Western Australia. It also holds interest in the Mt. Elsie project that consists of three exploration licenses covering an area of approximately 19 square kilometers located in the north-east of Nullagine, Western Australia.