Galileo Resources (LON:GLR) Shares Down 11.1% – Here’s What Happened

Shares of Galileo Resources Plc (LON:GLR) fell 11.1% during mid-day trading on Monday . The stock traded as low as GBX 0.91 ($0.01) and last traded at GBX 0.91 ($0.01). 2,007,709 shares were traded during trading, an increase of 10% from the average session volume of 1,821,346 shares. The stock had previously closed at GBX 1.02 ($0.01).

Galileo Resources Trading Up 0.9 %

The company has a market capitalization of £10.24 million, a price-to-earnings ratio of -13.00 and a beta of 1.41. The firm has a 50-day moving average price of GBX 1.07 and a 200-day moving average price of GBX 1.07. The company has a current ratio of 1.03, a quick ratio of 12.53 and a debt-to-equity ratio of 0.07.

Insider Buying and Selling

In related news, insider Joel Silberstein bought 369,863 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average cost of GBX 1 ($0.01) per share, for a total transaction of £3,698.63 ($4,702.05). Insiders own 74.79% of the company’s stock.

About Galileo Resources

Galileo Resources Plc explores and develops mineral projects in South Africa, Botswana, Zambia, Zimbabwe, the United Kingdom, and the United States. It explores for zinc, iron, manganese, copper, lithium, and gold deposits, as well as rare earths and aggregates. The company was incorporated in 2006 and is based in London, the United Kingdom.