Chesapeake Gold (CVE:CKG) Shares Cross Below Fifty Day Moving Average – Should You Sell?

Chesapeake Gold Corp. (CVE:CKG)’s share price crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$3.96 and traded as low as C$3.28. Chesapeake Gold shares last traded at C$3.28, with a volume of 126,450 shares.

Chesapeake Gold Trading Down 4.7%

The company has a market capitalization of C$252.19 million, a price-to-earnings ratio of -54.67 and a beta of 1.59. The firm’s 50 day simple moving average is C$3.96 and its 200-day simple moving average is C$2.81.

Insider Activity

In related news, insider Alan Nigel Pangbourne sold 83,800 shares of the stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of C$4.09, for a total transaction of C$342,742.00. Following the completion of the transaction, the insider directly owned 7,245,000 shares of the company’s stock, valued at C$29,632,050. This represents a 1.14% decrease in their ownership of the stock. Insiders have sold 154,300 shares of company stock worth $606,397 in the last quarter. Insiders own 32.91% of the company’s stock.

Chesapeake Gold Company Profile

Chesapeake Gold Corp., a mineral exploration and evaluation company, focuses on acquisition, evaluation, and development of precious metal deposits in North and Central America. The company primarily explores for gold and silver deposits. Its flagship project is the Metates project that includes 14 mining concessions covering an area of 14,727 hectares located in Durango State, Mexico. Chesapeake Gold Corp. was founded in 1993 and is headquartered in Vancouver, Canada.