Robex Resources (CVE:RBX) Trading Down 4.2% – Here’s Why

Robex Resources Inc. (CVE:RBX)’s share price was down 4.2% during mid-day trading on Wednesday . The company traded as low as C$2.15 and last traded at C$2.30. Approximately 93,730 shares changed hands during mid-day trading, an increase of 266% from the average daily volume of 25,617 shares. The stock had previously closed at C$2.40.

Analyst Ratings Changes

Separately, Canaccord Genuity Group set a C$3.75 target price on Robex Resources and gave the company a “speculative buy” rating in a research note on Wednesday, December 11th.

Robex Resources Price Performance

The firm has a market cap of C$346.96 million and a price-to-earnings ratio of -4.34. The company’s fifty day moving average is C$2.41 and its 200 day moving average is C$2.61. The company has a quick ratio of 1.14, a current ratio of 0.92 and a debt-to-equity ratio of 17.79.

About Robex Resources

Robex Resources Inc operates as a gold production and development company in West Africa. The company operates the Nampala mining permit located in southern Mali; and the Kiniero Project in Guinea. It also holds five exploration permits, including Mininko, Kamasso, Gladié, Sanoula, and Diangouté in Mali.