Shares of Ardea Resources Limited (ASX:ARL) dropped 2.3% during trading on Friday . The company traded as low as A$0.60 ($0.43) and last traded at A$0.63 ($0.44), approximately 87,144 shares changed hands during mid-day trading. The stock had previously closed at A$0.64 ($0.45).
The firm has a market capitalization of $66.34 million and a P/E ratio of -16.03.
In other news, insider Ian Buchhorn acquired 660,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were purchased at an average price of A$0.33 ($0.23) per share, for a total transaction of A$217,800.00 ($154,468.09).
Ardea Resources Limited engages in the exploration and development of mineral properties in Australia. The company explores for cobalt, nickel, scandium, gold, zinc, silver, and lead deposits. Its principal projects include the Kalgoorlie nickel project located in Kalgoorlie, Western Australia; and the Lewis Ponds project located in the Lachlan Fold Belt of New South Wales.
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