Great Atlantic Resources Corp. saw a significant increase in its share price, rising by 45.5% during mid-day trading on March 15, 2024. The stock peaked at C$0.17 before closing at C$0.16. This surge came with a notable trading volume of approximately 1,451,973 shares, marking a dramatic 478% increase from the average daily volume of 251,343 shares.
The stock’s previous closing price was C$0.11, indicating a robust market response. The company currently holds a market capitalization of C$10.38 million, with a price-to-earnings (PE) ratio of -4.00 and a beta of 2.42. Analysis of the stock reveals a 50-day simple moving average of C$0.08 and a 200-day simple moving average of C$0.11. Additionally, Great Atlantic Resources has a quick ratio of 0.84, a current ratio of 0.05, and a debt-to-equity ratio of -21.63.
Company Overview and Operations
Great Atlantic Resources Corp. is an exploration firm dedicated to the acquisition, exploration, and evaluation of mineral properties primarily in Canada. The company focuses on a diverse range of minerals, including gold, silver, lead, zinc, tungsten, antimony, copper, nickel, cobalt, and vanadium.
The firm holds interests in several key projects, including the Golden Promise project located in central Newfoundland. Additionally, it has a presence in various locations across Canada, with holdings in the Glenelg Vanadium, Kagoot Brook Cobalt, MacDougal Road, Keymet, Mascarene, Mount Raymond, and Porcupine properties in New Brunswick. Other properties include the Pilley’s Island and South Quarry sites in Newfoundland, as well as the Mitchell Brook property located in Nova Scotia.
As the market continues to respond to this rise in share price, investors and analysts will be closely monitoring the company’s next moves and the overall performance of its mineral exploration initiatives.
