Chesapeake Gold (CVE:CKG) Shares Cross Below Fifty Day Moving Average – Should You Sell?

Chesapeake Gold Corp. (CVE:CKG) shares crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$3.96 and traded as low as C$3.28. Chesapeake Gold shares last traded at C$3.28, with a volume of 126,450 shares trading hands.

Chesapeake Gold Stock Down 4.7%

The stock has a fifty day moving average of C$3.96 and a two-hundred day moving average of C$2.81. The stock has a market cap of C$252.19 million, a price-to-earnings ratio of -54.67 and a beta of 1.59.

Insider Activity

In related news, insider Alan Nigel Pangbourne sold 83,800 shares of the firm’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of C$4.09, for a total value of C$342,742.00. Following the completion of the sale, the insider owned 7,245,000 shares in the company, valued at C$29,632,050. This trade represents a 1.14% decrease in their ownership of the stock. In the last ninety days, insiders have sold 154,300 shares of company stock valued at $606,397. Company insiders own 32.91% of the company’s stock.

Chesapeake Gold Company Profile

Chesapeake Gold Corp., a mineral exploration and evaluation company, focuses on acquisition, evaluation, and development of precious metal deposits in North and Central America. The company primarily explores for gold and silver deposits. Its flagship project is the Metates project that includes 14 mining concessions covering an area of 14,727 hectares located in Durango State, Mexico. Chesapeake Gold Corp. was founded in 1993 and is headquartered in Vancouver, Canada.