Abitibi Royalties (CVE:RZZ) Shares Down 0.6% – Here’s Why

Abitibi Royalties Inc. (CVE:RZZ) dropped 0.6% during mid-day trading on Monday . The stock traded as low as C$26.80 and last traded at C$27.00. Approximately 4,551 shares changed hands during mid-day trading, an increase of 22% from the average daily volume of 3,730 shares. The stock had previously closed at C$27.15.

Abitibi Royalties Price Performance

The company’s 50-day moving average is C$27.00 and its two-hundred day moving average is C$27.00. The company has a market cap of C$336.50 million and a P/E ratio of -168.75.

Abitibi Royalties Company Profile

Abitibi Royalties Inc engages in exploring, evaluating, and promoting mineral properties and other projects in Canada. Its flagship royalty is 3% net smelter return royalty located on the eastern portion of the Canadian Malartic mine that includes the East Malartic, Odyssey, Sladen, Sheehan, Jeffrey, Barnat Extension, Gouldie Zone, and the Charlie Zone.