Canagold Resources (TSE:CCM) Trading 18.2% Higher – Time to Buy?

Canagold Resources Ltd. (TSE:CCM)’s share price rose 18.2% during mid-day trading on Thursday . The company traded as high as C$0.69 and last traded at C$0.65. Approximately 190,597 shares traded hands during trading, an increase of 116% from the average daily volume of 88,202 shares. The stock had previously closed at C$0.55.

Wall Street Analyst Weigh In

Separately, Atrium Research raised shares of Canagold Resources to a “strong-buy” rating in a research note on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, Canagold Resources currently has an average rating of “Strong Buy”.

Canagold Resources Stock Up 18.2%

The company has a current ratio of 2.34, a quick ratio of 0.61 and a debt-to-equity ratio of 0.54. The firm has a market cap of C$138.69 million, a price-to-earnings ratio of -65.00 and a beta of 0.59. The firm’s 50 day simple moving average is C$0.55 and its two-hundred day simple moving average is C$0.49.

Canagold Resources Company Profile

Canagold owns a portfolio of Gold and Silver projects located in North America. The company’s flagship asset is New Polaris – an advanced and past-producing, high-grade gold project in northern British Columbia, Canada. The company has a fully funded work program underway at New Polaris, and is currently advancing the project to feasibility status. CanaGold is managed by an experienced team with a strong track record of exploration, development and finance.