Torq Resources (CVE:TORQ) Trading Down 14.3% – Here’s What Happened

Shares of Torq Resources Inc. (CVE:TORQ) were down 14.3% during mid-day trading on Wednesday . The stock traded as low as C$0.06 and last traded at C$0.06. Approximately 307,500 shares were traded during trading, an increase of 194% from the average daily volume of 104,770 shares. The stock had previously closed at C$0.07.

Torq Resources Stock Down 14.3 %

The company’s fifty day moving average price is C$0.08 and its 200-day moving average price is C$0.08. The stock has a market capitalization of C$8.34 million, a PE ratio of -0.58 and a beta of 0.84. The company has a quick ratio of 10.31, a current ratio of 0.22 and a debt-to-equity ratio of 152.74.

Insider Activity

In related news, Director Michael Kosowan bought 750,000 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was acquired at an average cost of C$0.09 per share, for a total transaction of C$63,750.00. Company insiders own 29.71% of the company’s stock.

Torq Resources Company Profile

Torq Resources Inc, a junior exploration company, engages in the acquisition and exploration of mineral properties in the Americas. It has an option to acquire 100% interests in the Margarita iron oxide-copper-gold project covering an area of approximately 1,445 hectares located in the city of Copiapo, Chile; Santa Cecilia gold-copper project, which covers an area of 3,250-hectares located in Chile; and Andrea copper porphyry project that covers an area of 1,200 hectares located in northern Chile.