GCM Resources (LON:GCM) Trading 42.9% Higher – Still a Buy?

GCM Resources Plc (LON:GCM) rose 42.9% during mid-day trading on Friday . The company traded as high as GBX 4.40 ($0.06) and last traded at GBX 4 ($0.05). Approximately 11,307,676 shares changed hands during mid-day trading, an increase of 481% from the average daily volume of 1,944,845 shares. The stock had previously closed at GBX 2.80 ($0.04).

GCM Resources Price Performance

The company’s 50-day simple moving average is GBX 1.78 and its 200 day simple moving average is GBX 2.10. The company has a market capitalization of £11.98 million, a P/E ratio of -5.59 and a beta of 0.73. The company has a quick ratio of 0.11, a current ratio of 1.20 and a debt-to-equity ratio of 14.76.

GCM Resources Company Profile

GCM Resources Plc, together with its subsidiaries, operates as a resource exploration and development company in the United States. The company primarily engages in the development of the Phulbari coal and power project that relates to thermal coal and semi-soft coking coal located in Northwest, Bangladesh.