Portofino Resources (CVE:POR) Shares Down 20% – Here’s Why

by · The Cerbat Gem

Portofino Resources Inc. (CVE:POR – Get Free Report)’s share price dropped 20% during trading on Wednesday . The company traded as low as C$0.02 and last traded at C$0.02. Approximately 133,000 shares traded hands during mid-day trading, a decline of 25% from the average daily volume of 176,294 shares. The stock had previously closed at C$0.03.

Portofino Resources Trading Down 20.0 %

The stock’s 50-day moving average price is C$0.02 and its 200-day moving average price is C$0.03. The company has a market capitalization of C$3.50 million, a P/E ratio of -1.00 and a beta of 1.55.

Portofino Resources Company Profile

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Portofino Resources Inc acquires, explores for, and develops mineral properties in the Americas. The company holds an option to acquire 100% interests in the Sapawe West property that comprises various claims totaling 1,147 hectares located in the Schwenger and McCaul Townships, Ontario; the Gold Creek property comprising various mining claims containing various contiguous cell units covering an area of approximately 4,036 hectares located primarily in the Duckworth Township, Ontario; and the Melema West gold property covering an area of 869 hectares located to the northeast of the town of Atikokan, Ontario.

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