Torq Resources (CVE:TORQ) Hits New 1-Year Low – What’s Next?

Shares of Torq Resources Inc. (CVE:TORQ) hit a new 52-week low during trading on Thursday . The company traded as low as C$0.06 and last traded at C$0.06, with a volume of 75000 shares trading hands. The stock had previously closed at C$0.07.

Torq Resources Trading Down 7.7 %

The business has a 50 day moving average price of C$0.08 and a 200 day moving average price of C$0.09. The company has a market capitalization of C$8.34 million, a P/E ratio of -0.50 and a beta of 0.84. The company has a current ratio of 0.22, a quick ratio of 10.31 and a debt-to-equity ratio of 152.74.

Insider Buying and Selling at Torq Resources

In other Torq Resources news, Director Michael Kosowan bought 750,000 shares of Torq Resources stock in a transaction on Thursday, September 5th. The shares were purchased at an average cost of C$0.09 per share, for a total transaction of C$63,750.00. 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.