Sunrise Resources (LON:SRES) Shares Down 15.8% – Here’s Why

Sunrise Resources plc (LON:SRES)’s share price was down 15.8% on Monday . The company traded as low as GBX 0.02 ($0.00) and last traded at GBX 0.02 ($0.00). Approximately 20,132,318 shares were traded during mid-day trading, an increase of 134% from the average daily volume of 8,619,966 shares. The stock had previously closed at GBX 0.02 ($0.00).

Sunrise Resources Trading Down 11.1 %

The company has a 50 day simple moving average of GBX 0.02 and a two-hundred day simple moving average of GBX 0.03. The company has a debt-to-equity ratio of 12.48, a quick ratio of 3.18 and a current ratio of 0.71.

Sunrise Resources (LON:SRES) last issued its quarterly earnings data on Monday, February 17th. The company reported GBX (0.02) ($0.00) earnings per share for the quarter. As a group, analysts predict that Sunrise Resources plc will post -2 EPS for the current fiscal year.

Insider Activity

In other news, insider James Cole bought 39,764,880 shares of Sunrise Resources stock in a transaction on Wednesday, March 12th. The stock was acquired at an average price of GBX 2 ($0.03) per share, with a total value of £795,297.60 ($1,028,180.48). Insiders own 21.11% of the company’s stock.

About Sunrise Resources

Sunrise Resources plc engages in the acquisition, exploration, and development of mineral projects in the United States and Western Australia. The company explores for gold, copper, silver, lead, zinc, precious metal, base metal, and industrial mineral projects. It mines at CS Pozzolan-Perlite project located in Nevada, the United States, as well as holds leases/option agreement in the Jackson Wash project located in Nevada, the United States.