Phoenix Copper (LON:PXC) Trading 26.7% Higher – Here’s Why

Phoenix Copper Limited (LON:PXC)’s stock price traded up 26.7% during trading on Tuesday . The company traded as high as GBX 3.20 and last traded at GBX 2.85. 5,980,536 shares traded hands during trading, an increase of 251% from the average session volume of 1,703,313 shares. The stock had previously closed at GBX 2.25.

Phoenix Copper Trading Up 8.2%

The company has a quick ratio of 13.42, a current ratio of 0.65 and a debt-to-equity ratio of 5.51. The firm has a market cap of £7.45 million, a price-to-earnings ratio of -0.93 and a beta of 1.75. The business has a 50 day moving average of GBX 2.44 and a 200 day moving average of GBX 3.17.

Insider Activity at Phoenix Copper

In other news, insider Richard Wilkins purchased 550,000 shares of the stock in a transaction on Thursday, December 11th. The stock was purchased at an average price of GBX 2 per share, with a total value of £11,000. Also, insider Catherine Evans acquired 1,420,719 shares of Phoenix Copper stock in a transaction dated Thursday, December 11th. The stock was purchased at an average cost of GBX 2 per share, for a total transaction of £28,414.38. In the last quarter, insiders purchased 3,520,719 shares of company stock worth $7,041,438. 2.29% of the stock is owned by insiders.

About Phoenix Copper

Phoenix Copper Limited is a North American focused, base and precious metal explorer and developer, with operations near Mackay, Idaho in the Alder Creek mining district. This district includes the historical Empire, Horseshoe, White Knob and Blue Bird Mines, which produced copper at head grades of 6-8% prior to ceasing production in the 1940s. The focus of Phoenix is on bringing an open pit containing copper oxides at empire into production, and using the cashflow generated to progress exploration of the potentially significant copper sulphide deposit beneath.