Independence Gold (CVE:IGO) Shares Up 10.5% – Should You Buy?

Shares of Independence Gold Corp. (CVE:IGO) were up 10.5% on Friday . The company traded as high as C$0.10 and last traded at C$0.10. 635,440 shares were traded during mid-day trading, an increase of 72% from the average daily volume of 368,751 shares. The stock had previously closed at C$0.10.

Independence Gold Price Performance

The company has a fifty day moving average of C$0.10 and a 200-day moving average of C$0.10. The firm has a market cap of C$27.71 million, a P/E ratio of -3.50 and a beta of 0.33. The company has a debt-to-equity ratio of 1.13, a current ratio of 4.62 and a quick ratio of 0.38.

Insider Buying and Selling at Independence Gold

In other news, insider Gestion Bouca Inc purchased 478,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were bought at an average cost of C$0.10 per share, with a total value of C$47,800.00. Following the completion of the transaction, the insider directly owned 3,357,500 shares of the company’s stock, valued at approximately C$335,750. This trade represents a 16.60% increase in their ownership of the stock. Insiders have bought 1,326,000 shares of company stock worth $133,840 over the last 90 days. 12.50% of the stock is owned by company 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.