Novo Resources Corp. (NVO.V) (CVE:NVO) Trading Down 0.4% – What’s Next?

Novo Resources Corp. (NVO.V) (CVE:NVO)’s stock price was down 0.4% on Tuesday . The company traded as low as C$2.37 and last traded at C$2.38. Approximately 311,570 shares changed hands during trading, an increase of 14% from the average daily volume of 273,252 shares. The stock had previously closed at C$2.39.

Novo Resources Corp. (NVO.V) Stock Performance

The stock has a market cap of C$548.24 million and a price-to-earnings ratio of -21.25. The company’s 50-day simple moving average is C$2.38 and its 200-day simple moving average is C$2.38. The company has a quick ratio of 2.57, a current ratio of 2.78 and a debt-to-equity ratio of 11.62.

About Novo Resources Corp. (NVO.V)

Novo Resources Corp., together with its subsidiaries, engages in evaluating, acquiring, and exploring natural resource properties in Canada, Australia, and the United States. It primarily explores for gold deposits. The company primarily focuses on the Egina and Beatons Creek projects in the Pilbara region of Western Australia.