Ascendant Resources (TSE:ASND) Shares Pass Below Fifty Day Moving Average – Here’s Why

Ascendant Resources Inc. (TSE:ASND)’s stock price passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$0.05 and traded as low as C$0.05. Ascendant Resources shares last traded at C$0.06, with a volume of 40,200 shares.

Ascendant Resources Trading Up 10.0 %

The company has a quick ratio of 0.04, a current ratio of 0.05 and a debt-to-equity ratio of 301.82. The firm’s 50-day simple moving average is C$0.05 and its 200 day simple moving average is C$0.04. The stock has a market capitalization of C$10.27 million, a P/E ratio of -1.83 and a beta of 1.57.

About Ascendant Resources

Ascendant Resources Inc, a mining company, explores for and develops mineral properties. The company explores for zinc, copper, lead, tin, silver, gold, and other metals. It holds 50% interest in the Lagoa Salgada volcanogenic massive sulphide project, which covers an area of 10,700 hectares located on the Iberian Pyrite Belt in Portugal.