GoGold Resources (TSE:GGD) Trading Down 4.7% – Here’s Why

GoGold Resources Inc. (TSE:GGD) dropped 4.7% during trading on Friday . The company traded as low as C$3.15 and last traded at C$3.22. Approximately 3,288,489 shares were traded during mid-day trading, an increase of 56% from the average daily volume of 2,105,186 shares. The stock had previously closed at C$3.38.

Wall Street Analyst Weigh In

GGD has been the topic of a number of recent analyst reports. Stifel Nicolaus set a C$5.25 target price on shares of GoGold Resources and gave the company a “buy” rating in a research report on Monday, March 2nd. Desjardins set a C$5.50 target price on shares of GoGold Resources and gave the company a “buy” rating in a research report on Friday, April 24th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of C$5.38.

GoGold Resources Price Performance

The company has a debt-to-equity ratio of 0.20, a quick ratio of 8.30 and a current ratio of 9.29. The company has a market capitalization of C$1.40 billion, a PE ratio of 29.54 and a beta of 1.76. The company’s 50-day simple moving average is C$2.83 and its 200-day simple moving average is C$2.93.

GoGold Resources (TSE:GGD) last issued its quarterly earnings data on Wednesday, May 6th. The company reported C$0.05 earnings per share (EPS) for the quarter. GoGold Resources had a net margin of 52.19% and a return on equity of 12.12%. The company had revenue of C$42.17 million for the quarter. As a group, sell-side analysts anticipate that GoGold Resources Inc. will post 0.0349744 earnings per share for the current year.

About GoGold Resources

GoGold Resources (TSX: GGD) is a Canadian-based silver and gold producer focused on operating, developing, exploring and acquiring high quality projects in Mexico. The Company operates the Parral Tailings mine in the state of Chihuahua and has the Los Ricos South and Los Ricos North exploration and development projects in the state of Jalisco. Headquartered in Halifax, NS, GoGold is building a portfolio of low cost, high margin projects.