First Mexican Gold (CVE:FMG) Shares Down 2.5% – Here’s Why

First Mexican Gold Corp (CVE:FMG)’s stock price dropped 2.5% on Tuesday . The stock traded as low as C$0.39 and last traded at C$0.40. Approximately 58,211 shares traded hands during trading, an increase of 55% from the average daily volume of 37,447 shares. The stock had previously closed at C$0.41.

First Mexican Gold Price Performance

The stock’s 50 day moving average price is C$0.39 and its 200-day moving average price is C$0.40. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 20.62. The stock has a market capitalization of C$17.52 million and a PE ratio of -131.67.

About First Mexican Gold

First Mexican Gold Corp. through its subsidiary, Cornelius exploration S. de R.L. de C.V., engages in the acquisition, exploration, and development of mineral properties in Mexico. It explores for gold and silver deposits. The company holds interests in the Hilda Properties comprising the Hilda 30 property; the Hilda 37/38 property with two mining exploration concessions; and the Hilda 31/32 property with three mining exploration concessions comprising a total area of 1,350 hectares in the Yecora District, State of Sonora, Mexico.