Oroco Resource Corp. (CVE:OCO) experienced a notable increase in its stock price on March 4, 2024, rising by 13.3% to reach C$0.34. This surge comes as the company continues to focus on its mineral exploration projects in Mexico. Despite the uptick, trading volume declined to approximately 139,698 shares, which is 10% lower than the average daily volume of 154,594 shares. The stock had previously closed at C$0.30.
The stock’s performance is reflected in its moving averages, with the fifty-day simple moving average standing at C$0.33 and the 200-day simple moving average at C$0.31. This recent price movement may spark interest among investors considering whether to buy into Oroco Resource. The company holds a market capitalization of C$85.10 million, alongside a price-to-earnings (P/E) ratio of -33.00 and a beta of 0.27.
Company Overview and Financials
Oroco Resource Corp. operates as an exploration stage company primarily engaged in the acquisition and exploration of mineral properties in Mexico. Its primary focus is on the Santo Tomas porphyry copper project located in Sinaloa State. Additionally, the company possesses a 100% interest in the Xochipala project, which includes the Celia Gene and Celia Generosa mineral concessions covering 193 hectares in Guerrero. The Salvador property, also in Guerrero, spans 100 hectares.
The financial health of Oroco Resource is indicated by a debt-to-equity ratio of 0.54, a quick ratio of 5.79, and a current ratio of 0.78. These metrics suggest a relatively stable financial position, although the negative P/E ratio indicates that the company has not yet turned a profit.
Investors and analysts alike will be watching Oroco Resource closely as it navigates its exploration endeavors and evaluates future opportunities. The company’s daily news and ratings can be tracked through resources such as MarketBeat, providing timely updates for potential investors.
