Chesapeake Gold (CVE:CKG) Stock Passes Below Fifty Day Moving Average – Time to Sell?

Chesapeake Gold Corp. (CVE:CKG)’s stock price passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$4.03 and traded as low as C$3.00. Chesapeake Gold shares last traded at C$3.23, with a volume of 100,852 shares traded.

Chesapeake Gold Price Performance

The firm’s 50 day simple moving average is C$4.03 and its 200-day simple moving average is C$3.10. The company has a market cap of C$248.34 million, a price-to-earnings ratio of -53.83 and a beta of 1.82.

Insider Buying and Selling

In related news, insider Alan Nigel Pangbourne sold 28,500 shares of the stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of C$4.55, for a total transaction of C$129,675.00. Following the completion of the sale, the insider owned 7,216,500 shares in the company, valued at C$32,835,075. This represents a 0.39% decrease in their position. In the last ninety days, insiders have sold 154,300 shares of company stock valued at $606,397. 32.91% of the stock is owned by corporate insiders.

About Chesapeake Gold

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.