Independence Gold (CVE:IGO) Shares Up 14.3% – Time to Buy?

Independence Gold Corp. (CVE:IGO)’s stock price traded up 14.3% during mid-day trading on Wednesday . The company traded as high as C$0.12 and last traded at C$0.12. Approximately 1,169,138 shares changed hands during trading, an increase of 214% from the average session volume of 372,542 shares. The stock had previously closed at C$0.10.

Independence Gold Trading Up 14.3%

The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.38 and a current ratio of 4.62. The firm has a 50-day moving average of C$0.10 and a 200-day moving average of C$0.10. The firm has a market capitalization of C$31.67 million, a P/E ratio of -4.00 and a beta of 0.29.

Insider Activity at Independence Gold

In other news, insider Gestion Bouca Inc bought 1,780,000 shares of the firm’s stock in a transaction that occurred on Saturday, June 27th. The shares were bought at an average cost of C$0.10 per share, with a total value of C$178,000.00. Following the completion of the purchase, the insider directly owned 31,771,000 shares in the company, valued at C$3,177,100. This represents a 5.94% increase in their ownership of the stock. Insiders have acquired 7,127,216 shares of company stock valued at $770,546 over the last quarter. 12.50% of the stock is owned by insiders.

Independence Gold Company Profile

Independence Gold Corp. engages in the acquisition, exploration, and evaluation of precious metal properties in Canada and North America. It explores for gold and silver deposits. The company holds 100% interest in the 3Ts Project comprising six claim groups and consist of seventy mineral claims covering an approximately 8,840 hectares located in the Nechako Plateau region of central British Columbia; and the Laidman Project comprising six mineral tenures covering an approximately 10,800 hectares located in the British Columbia.