Rusoro Mining (CVE:RML) Shares Up 2.6% – Here’s What Happened

Rusoro Mining Ltd. (CVE:RML)’s stock price was up 2.6% during mid-day trading on Thursday . The company traded as high as C$1.21 and last traded at C$1.20. 191,304 shares changed hands during trading, a decline of 63% from the average session volume of 522,884 shares. The stock had previously closed at C$1.17.

Rusoro Mining Stock Performance

The company’s fifty day moving average is C$1.13 and its 200-day moving average is C$1.13. The company has a market capitalization of C$768.33 million, a PE ratio of -3.00 and a beta of -0.23.

Insiders Place Their Bets

In other news, Director Andre Vladimir Agapov acquired 50,000 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were purchased at an average cost of C$1.10 per share, for a total transaction of C$55,000.00. Following the transaction, the director directly owned 61,180,367 shares of the company’s stock, valued at approximately C$67,298,403.70. This trade represents a 0.08% increase in their ownership of the stock. Also, insider L.P. Silver Point Capital bought 5,250,527 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were purchased at an average price of C$1.19 per share, for a total transaction of C$6,248,127.13. Following the purchase, the insider owned 87,137,870 shares in the company, valued at C$103,694,065.30. This represents a 6.41% increase in their position. Insiders bought a total of 6,900,700 shares of company stock worth $8,205,659 over the last three months. 29.16% of the stock is currently owned by company insiders.

About Rusoro Mining

Rusoro Mining Ltd. engages in the acquisition, exploration, development, and operation of gold mineral properties in Venezuela. It primarily holds 95% interests in the Choco 10 mine; and 50% interest in the Isidora mine located in the El Callao district in south-eastern Venezuela. The company was formerly known as Newton Ventures Inc and changed its name to Rusoro Mining Ltd. in November 2006. The company is headquartered in Vancouver, Canada.