Torq Resources (CVE:TORQ) Shares Up 16.7% – Time to Buy?

Torq Resources Inc. (CVE:TORQ) shares shot up 16.7% on Monday . The stock traded as high as C$0.08 and last traded at C$0.07. 337,016 shares traded hands during mid-day trading, an increase of 231% from the average session volume of 101,802 shares. The stock had previously closed at C$0.06.

Torq Resources Stock Up 16.7 %

The firm has a market cap of C$9.73 million, a price-to-earnings ratio of -0.58 and a beta of 0.84. The business’s 50-day moving average is C$0.08 and its 200-day moving average is C$0.08. The company has a debt-to-equity ratio of 152.74, a quick ratio of 10.31 and a current ratio of 0.22.

Insiders Place Their Bets

In other Torq Resources news, Director Michael Kosowan purchased 750,000 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was acquired at an average cost of C$0.09 per share, with a total value of C$63,750.00. Insiders own 29.71% of the company’s stock.

Torq Resources Company Profile

Torq Resources Inc, a junior exploration company, engages in the acquisition and exploration of mineral properties in the Americas. It has an option to acquire 100% interests in the Margarita iron oxide-copper-gold project covering an area of approximately 1,445 hectares located in the city of Copiapo, Chile; Santa Cecilia gold-copper project, which covers an area of 3,250-hectares located in Chile; and Andrea copper porphyry project that covers an area of 1,200 hectares located in northern Chile.