Investors holding a stake in U.S. Precious metals, Inc. (OTC:USPR) have every right to rekindle their enthusiasm based on what USPR did during the latest trading session.
Closing trade at $0.315 per share, USPR advanced 14.55%, its highest percentage gain since Jan. 6. Moreover, USPR stock enjoyed increased investor interest as more than 1.12 million shares changed hands by the time trading came to a halt. Thus, USPR finally put an end to its rather sub-par recent market behaviour, hinting at a possible new upward trend.
The company’s latest surge comes hot on the heels of a relatively negative chart run, which was, on the other hand, preceded by a consistent uptrend which started in mid-January and continued till early-February. Now that USPR has jumped considerably, it might be in for a good ride again.
Based in Florida, U.S. Precious Metals is an exploration-stage company which specializes in researching Mexican properties for precious metal deposits. As a diligent SEC filer, the company has stuck to an open-door financial policy. According to USPR’s latest 10-Q report for the quarter ended Nov. 30, 2011, it had:
- cash reserves of approx. $30 thousand;
- negative working capital of $3.5 million, or a current ratio of 0.03;
- net quarterly loss of $796 thousand.
Needless to say, USPR is by no means safe and sound when it comes to financial strength. Although the company was founded 14 years ago, it has generated no revenue whatsoever. Moreover, the cumulative net loss since inception now exceeds $23 million and there are no signs of significant and quick improvement in the immediate future. Unless USPR comes across a real goldmine, of course.
