Riverside Resources (CVE:RRI) Trading Down 7.1% – Here’s Why

Riverside Resources Inc. (CVE:RRI) shares dropped 7.1% on Wednesday . The company traded as low as C$0.13 and last traded at C$0.13. Approximately 109,600 shares were traded during trading, an increase of 228% from the average daily volume of 33,402 shares. The stock had previously closed at C$0.14.

Riverside Resources Stock Performance

The firm has a market capitalization of C$9.72 million, a price-to-earnings ratio of -6.50 and a beta of 1.58. The stock’s fifty day moving average is C$0.13 and its two-hundred day moving average is C$0.14. The company has a quick ratio of 1.69, a current ratio of 3.97 and a debt-to-equity ratio of 0.31.

Riverside Resources Company Profile

Riverside Resources Inc engages in the acquisition, exploration, and evaluation of assets in Canada, the United States, and Mexico. It primarily explores for gold, silver, rare earth elements (REE), and copper deposits. The company holds 100% interests in the Oakes Gold project covering an area of approximately 5,600 hectares; the Pichette comprises 1,650 hectares; and the Longrose and Vincent projects in located northwestern Ontario, Canada, as well as Duc project covering an area of approximately 600 hectares located in Ontario, Canada; and the Revel project includes 1,100 hectares located in the north of Revelstoke, British Columbia.