Prairie Provident Resources (TSE:PPR) Trading Down 14.3% – Here’s Why

Prairie Provident Resources Inc. (TSE:PPR)’s share price was down 14.3% on Wednesday . The stock traded as low as C$0.03 and last traded at C$0.03. Approximately 105,649 shares were traded during mid-day trading, a decline of 13% from the average daily volume of 121,468 shares. The stock had previously closed at C$0.04.

Prairie Provident Resources Price Performance

The firm has a market cap of C$27.97 million, a price-to-earnings ratio of -0.88 and a beta of 2.52. The company has a current ratio of 0.15, a quick ratio of 0.28 and a debt-to-equity ratio of 892.89. The stock’s fifty day moving average price is C$0.04 and its 200-day moving average price is C$0.05.

About Prairie Provident Resources

Prairie Provident Resources Inc engages in the exploration, development, and production of oil and natural gas properties in Alberta. The company explores for light and medium oil, heavy crude oil, conventional natural gas, and natural gas liquids. It principally focuses on the Princess and Michichi areas targeting the Glauconite, Detrital, Ellerslie, Lower Cretaceous Mannville, and Mississippian Banff formations in southeastern Alberta; and the Evi areas targeting the Devonian Slave Point, Gilwood, and Granite Wash formations situated in the Peace River Arch area of northern Alberta.