Wishbone Gold (LON:WSBN) Stock Passes Below 200-Day Moving Average – Should You Sell?

Wishbone Gold Plc (LON:WSBN) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 38.38 and traded as low as GBX 21.50. Wishbone Gold shares last traded at GBX 22.31, with a volume of 306,881 shares changing hands.

Wishbone Gold Stock Performance

The company has a market cap of £8.43 million, a P/E ratio of -555.00 and a beta of 1.66. The stock has a 50 day moving average price of GBX 23.36 and a 200 day moving average price of GBX 37.98.

Wishbone Gold (LON:WSBN) last released its earnings results on Tuesday, June 30th. The company reported GBX (0.04) earnings per share (EPS) for the quarter. Wishbone Gold had a negative return on equity of 12.39% and a negative net margin of 685.01%.

Wishbone Gold Company Profile

Wishbone Gold Plc is listed in London on the LSE AIM market and the AQUIS stock exchange.

It has three major exploration properties in Australia and three minor prospects. Two of these are located in the Pilbara region of Western Australia and the third is in the Mingela-Charters Towers region in Queensland.

The company’s flagship project is Red Setter located approximately 13km south west of Newcrest’s Telfer operations. Red Setter is a Havieron style gold prospect. Cottlesloe, 35km south east of Red Setter, has deposits visible at surface of silver and lead: metals which are essential for battery and electric car production.

In Queensland the Wishbone II project has almost doubled recently with the addition of Wishbone VI.