Independence Gold (CVE:IGO) Hits New 1-Year High – Here’s What Happened

Independence Gold Corp. (CVE:IGO) shares reached a new 52-week high on Friday . The company traded as high as C$0.21 and last traded at C$0.20, with a volume of 449977 shares. The stock had previously closed at C$0.20.

Independence Gold Price Performance

The company’s 50 day simple moving average is C$0.13 and its 200 day simple moving average is C$0.11. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.52 and a quick ratio of 0.38. The stock has a market cap of C$54.11 million, a P/E ratio of -6.83 and a beta of 0.29.

Insiders Place Their Bets

In other news, insider Gestion Bouca Inc bought 1,780,000 shares of the stock in a transaction on Saturday, June 27th. The stock was purchased at an average price of C$0.10 per share, for a total transaction of C$178,000.00. Following the acquisition, the insider owned 31,771,000 shares in the company, valued at approximately C$3,177,100. This trade represents a 5.94% increase in their ownership of the stock. Over the last three months, insiders have acquired 8,005,184 shares of company stock valued at $888,741. 12.50% of the stock is currently owned by corporate 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.