Sunrise Resources (LON:SRES) Shares Down 15.8% – What’s Next?

Sunrise Resources plc (LON:SRES) shares dropped 15.8% on Monday . The company traded as low as GBX 0.02 ($0.00) and last traded at GBX 0.02 ($0.00). Approximately 20,132,318 shares were traded during mid-day trading, an increase of 134% from the average daily volume of 8,619,966 shares. The stock had previously closed at GBX 0.02 ($0.00).

Sunrise Resources Price Performance

The firm has a fifty day simple moving average of GBX 0.02 and a 200-day simple moving average of GBX 0.03. The company has a current ratio of 0.71, a quick ratio of 3.18 and a debt-to-equity ratio of 12.48.

Sunrise Resources (LON:SRES) last announced its earnings results on Monday, February 17th. The company reported GBX (0.02) ($0.00) EPS for the quarter. On average, sell-side analysts forecast that Sunrise Resources plc will post -2 EPS for the current fiscal year.

Insider Activity

In other news, insider James Cole bought 39,764,880 shares of the company’s stock in a transaction dated Wednesday, March 12th. The stock was bought at an average cost of GBX 2 ($0.03) per share, for a total transaction of £795,297.60 ($1,027,516.28). 21.11% of the stock is owned by company insiders.

About Sunrise Resources

Sunrise Resources plc engages in the acquisition, exploration, and development of mineral projects in the United States and Western Australia. The company explores for gold, copper, silver, lead, zinc, precious metal, base metal, and industrial mineral projects. It mines at CS Pozzolan-Perlite project located in Nevada, the United States, as well as holds leases/option agreement in the Jackson Wash project located in Nevada, the United States.