Prairie Provident Resources (TSE:PPR) Shares Down 12.5% – Here’s Why

Shares of Prairie Provident Resources Inc. (TSE:PPR) were down 12.5% during trading on Friday . The company traded as low as C$0.04 and last traded at C$0.04. Approximately 427,900 shares traded hands during mid-day trading, an increase of 114% from the average daily volume of 200,076 shares. The stock had previously closed at C$0.04.

Prairie Provident Resources Trading Down 12.5 %

The company’s fifty day simple moving average is C$0.05 and its two-hundred day simple moving average is C$0.04. The company has a quick ratio of 0.28, a current ratio of 0.15 and a debt-to-equity ratio of 892.89. The company has a market capitalization of C$32.63 million, a price-to-earnings ratio of -0.88 and a beta of 2.52.

About Prairie Provident Resources

Prairie Provident Resources Inc engages in the exploration, development, and production of oil and natural gas properties in Alberta. The company explores for light and medium oil, heavy crude oil, conventional natural gas, and natural gas liquids. It principally focuses on the Princess and Michichi areas targeting the Glauconite, Detrital, Ellerslie, Lower Cretaceous Mannville, and Mississippian Banff formations in southeastern Alberta; and the Evi areas targeting the Devonian Slave Point, Gilwood, and Granite Wash formations situated in the Peace River Arch area of northern Alberta.