Providence Gold Mines (CVE:PHD) Trading 50% Higher – What’s Next?

Shares of Providence Gold Mines Inc. (CVE:PHD) were up 50% on Thursday . The company traded as high as C$0.09 and last traded at C$0.09. Approximately 394,000 shares changed hands during mid-day trading, an increase of 544% from the average daily volume of 61,188 shares. The stock had previously closed at C$0.06.

Providence Gold Mines Stock Performance

The company has a current ratio of 0.03, a quick ratio of 0.07 and a debt-to-equity ratio of 0.42. The company has a market cap of C$5.87 million, a P/E ratio of -2.25 and a beta of 1.10. The company has a 50 day moving average price of C$0.06 and a 200-day moving average price of C$0.05.

About Providence Gold Mines

Providence Gold Mines Inc, an exploration stage company, engages in the acquisition, exploration, and evaluation of mineral properties located in Canada and the United States. The company primarily explores for gold ores. It holds interests in the Providence Mines Property, consisting 7 patented staked mineral claims and 22 located claims, covering an area of approximately 324 acres located in the Summerville Mining District, Sonora, California. The company was formerly known as Red Hut Metals Inc and changed its name to Providence Gold Mines Inc in July 2017.