Parallel Mining (CVE:PAL) Trading Up 7.1% – Still a Buy?

Parallel Mining Corp. (CVE:PAL) traded up 7.1% during trading on Wednesday . The company traded as high as C$0.15 and last traded at C$0.15. 180,200 shares traded hands during mid-day trading, an increase of 337% from the average session volume of 41,250 shares. The stock had previously closed at C$0.14.

Parallel Mining Stock Performance

The stock has a 50 day simple moving average of C$0.15 and a 200 day simple moving average of C$0.15. The company has a current ratio of 0.81, a quick ratio of 0.48 and a debt-to-equity ratio of 78.11. The stock has a market cap of C$3.02 million and a P/E ratio of -1.53.

Parallel Mining Company Profile

Parallel Mining Corp. acquires, explores for, develops, exploits, and evaluates base and precious metal properties in Canada and Africa. It holds an option to acquire a 100% interest in the Mane II gold property covering an area of 163 square kilometers located in the Kaya-Goren greenstone belt in Ouagadougou, Burkina Faso.