Shares of New Millennium Iron Corp (TSE:NML) dropped 14.3% during trading on Friday . The stock traded as low as C$0.06 and last traded at C$0.06. Approximately 165,600 shares were traded during mid-day trading, a decline of 26% from the average daily volume of 223,660 shares. The stock had previously closed at C$0.07.
The firm has a market capitalization of $14.48 million and a PE ratio of 13.33.
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New Millennium Iron Corp. explores for, evaluates, and develops iron ore deposits in Canada. The company's principal property is the Millennium Iron Range project, which include interests in the KéMag and LabMag taconite properties located in the Labrador Trough covering the province of Newfoundland and Labrador, as well as in the Menihek Region around Schefferville, Québec.
Further Reading: What is Net Asset Value (NAV)?
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