GoGold Resources (TSE:GGD) Shares Down 4.7% – Here’s What Happened

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Desjardins set a C$5.50 price target on GoGold Resources and gave the stock a “buy” rating in a research note on Friday, April 24th. Stifel Nicolaus set a C$5.25 price target on GoGold Resources and gave the stock a “buy” rating in a research note on Monday, March 2nd. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of C$5.38.

GoGold Resources Stock 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 business has a 50 day moving average price of C$2.83 and a two-hundred day moving average price of C$2.93. The company has a market cap of C$1.40 billion, a P/E ratio of 29.54 and a beta of 1.76.

GoGold Resources (TSE:GGD) last released its earnings results on Wednesday, May 6th. The company reported C$0.05 earnings per share for the quarter. GoGold Resources had a return on equity of 12.12% and a net margin of 52.19%.The company had revenue of C$42.17 million during the quarter. On average, 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.