Riverside Resources (CVE:RRI) Shares Climb 4.2% – Here’s Why

Riverside Resources Inc. (CVE:RRI)’s stock price traded up 4.2% during mid-day trading on Wednesday. The company traded as high as C$0.38 and last traded at C$0.38. 500 shares traded hands during trading, a decline of 99% from the average daily volume of 77,664 shares. The stock had previously closed at C$0.36.

Riverside Resources Price Performance

The company has a market cap of C$35.15 million, a PE ratio of 18.75 and a beta of 0.67. The company’s 50 day simple moving average is C$0.40 and its two-hundred day simple moving average is C$0.30.

Insider Activity

In other news, insider Jeffrey Dare sold 110,000 shares of the firm’s stock in a transaction dated Thursday, October 8th. The stock was sold at an average price of C$0.39, for a total transaction of C$42,900.00. Following the completion of the sale, the insider directly owned 25,500 shares in the company, valued at C$9,945. This trade represents a 81.18% decrease in their ownership of the stock. 5.12% of the stock is owned by insiders.

About Riverside Resources

Riverside Resources Inc engages in the acquisition, exploration, and evaluation of assets in Canada, the United States, and Mexico. It primarily explores for gold, silver, rare earth elements (REE), and copper deposits. The company holds 100% interests in the Oakes Gold project covering an area of approximately 5,600 hectares; the Pichette comprises 1,650 hectares; and the Longrose and Vincent projects in located northwestern Ontario, Canada, as well as Duc project covering an area of approximately 600 hectares located in Ontario, Canada; and the Revel project includes 1,100 hectares located in the north of Revelstoke, British Columbia.