Eastmain Resources Inc. (ER.TO) (TSE:ER) Shares Up 12% – Here’s What Happened

Eastmain Resources Inc. (ER.TO) (TSE:ER)’s stock price shot up 12% during trading on Monday . The company traded as high as C$0.28 and last traded at C$0.28. 2,105,459 shares changed hands during mid-day trading, an increase of 333% from the average session volume of 486,551 shares. The stock had previously closed at C$0.25.

Eastmain Resources Inc. (ER.TO) Stock Performance

The stock has a market cap of C$81.37 million and a price-to-earnings ratio of -4.75. The firm’s fifty day simple moving average is C$0.28. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.90 and a quick ratio of 1.84.

Eastmain Resources Inc. (ER.TO) Company Profile

Eastmain Resources Inc, together with its subsidiary, Eastmain Mines Inc, engages in the acquisition and exploration of mineral resource properties in Canada. The company primarily explores for gold, silver, nickel, platinum, and copper deposits. Its flagship project is the Clearwater project, which hosts the Eau Claire gold deposit covering an area of 201 square kilometers located in the central portion of the Eastmain River Greenstone Belt within the James Bay Mining District of Québec.